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THE GENOMIC REVOLUTION(ARKG)

WHY INVEST IN

www.ark-funds.com

Information is as of March 31, 2019 | For Informational Purposes Only

Approved for public use.

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Risks of Investing in Genomic Innovation

Please note, companies that ARK believes are capitalizing on disruptive innovation and developing technologies to displace older technologies or create new markets may not in fact do so. ARK aims to educate investors and seeks to size the potential investment opportunity of disruptive innovation in the genomic space, noting that risks and uncertainties may impact our projections and research models. Investors should use the content presented for informational purposes only, and be aware of market risk, disruptive innovation risk, regulatory risk, and risks related to certain innovation areas. Please read risk disclosure carefully.

à Aim to understand the regulatory, market, sector, and company risks. (See Risk Disclosure on page 14)

à Aim for a cross-sector understanding of technology and combine top down and bottom up research.

RISK FACTORS OF INVESTING IN GENOMIC INNOVATION

Disruptive Innovation

Rapid Pace of Change

Uncertainty and Unknowns

Exposure Across Sectors and Market Cap

Regulatory Hurdles

Competitive Landscape

Political or Legal Pressure

Cost of Research and Development Patent Protection and IP* Rights

* IP: Intellectual Property

WHY INVEST IN THE GENOMIC REVOLUTION?

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Forecasts are inherently limited and cannot be relied upon. [1] Wetterstrand KA. “DNA Sequencing Costs: Data.” National Human Genome Research Institute (NHGRI), 25 Apr. 2018, https://arkinv.st/2RDopym [2] ARK Investment Management LLC, 2018

WHY INVEST IN THE GENOMIC REVOLUTION?

1

10

100

1,000

10,000

100,000

1,000,000

10,000,000

100,000,000

1,000,000,000

Jul-98 Jan-04 Jul-09 Dec-14 Jun-20 Dec-25

Cum

ulat

ive

Num

ber

of

Sequ

ence

d G

enom

es

Whole Human Genomes Sequenced(Cumulative Number)

Today ~ 2 million whole human

genomes sequenced since 2003

Production Data Production Trend

THE COST CURVE FOR GENOMIC SEQUENCING SHOULD CAUSE SIGNIFICANT GROWTH IN UNIT DEMAND

ARK believes that the number of whole human genomes sequenced since 2003 should increase 50-fold from 2 million today to 100 million in the early 2020’s as next generation sequencing (NGS) expands into new clinical, diagnostic, and agricultural markets.1,2

ark-funds.com | 4Source: ARK Investment Management LLC, 2018; Image Source: Arup

WHY INVEST IN THE GENOMIC REVOLUTION?

CRISPR GENE-EDITING WILL REVOLUTIONIZE GENOMIC MEDICINE

• CRISPR enables cheap and rapid “write” capabilities to correct defects and cure diseases.• Genetic defects in the human code cause many diseases including cancer, heart disease, diabetes, cystic fibrosis,

and Alzheimer's.

CRISPR: Clustered Regularly Interspaced Short Palindromic Repeats

a “molecular swiss army knife” with a rapidly expanding number of tools that perform different functions:

Cut DNA/ RNA Insert DNA/RNA Activate/Silence Genes Record and Track Molecular Event Detect molecules

CRISPR

Monoclonal antibodies

CAR-T;T-Cell;Immunotherapies

Stem Cell Therapy;Restoration of gene function

READ WRITE

DNA Sequencing

Targeted Therapy

Cell Therapy

Gene Therapy

Genome Editing (e.g. CRISPR)

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CRISPR USE CASE: MONOGENIC DISEASE

• 1 in 100 live human births results in a monogenic disease.1

• CRISPR entered human trials in 2018

• If CRISPR were to address individuals already living with monogenic diseases, its one time global addressable market would be $2 trillion.

Forecasts are inherently limited and cannot be relied upon.Source: ARK Investment Management LLC, 2018; [1] Krimsky, Sheldon, and Jeremy Gruber, editors. Genetic Explanations: Sense and Nonsense. Harvard University Press, 2013.

WHY INVEST IN THE GENOMIC REVOLUTION?

$0

$500

$1,000

$1,500

$2,000

$2,500

CRISPR’s Initial Addressable Market: Monogenic Diseases(Prices Based on Cures, $USD billions)

US Rest of World

$75 Billion

$2 Trillion

Ongoing Annual Market Opportunity(Live Births Resulting in Monogenic Diseases)

One-Time Addressable Opportunity(Formerly Diagnosed Patients

Living with Monogenic Diseases)

Revenue

• Only 5% of the 10,000 monogenic diseases, conditions caused by an error in a single gene, respond to any treatment today.

• CRISPR should address all monogenic diseases, potentially generating $75 billion in global revenue per year.

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CRISPR USE CASE: CAR-T

Forecasts are inherently limited and cannot be relied upon.Source: ARK Investment Management LLC, 2018* CAR-T projections include TCR technologies. Estimated for future years.

WHY INVEST IN THE GENOMIC REVOLUTION?

§ Early stage cancer and solid tumor indications are the biggest value drivers for CAR-T therapy.

§ In the past year, CRISPR has increased the probability that CAR-T will be successful in addressing solid state tumors.

$- $50

$100 $150 $200 $250 $300 $350 $400 $450 $500

Liquid Tumors:Early Stage

Liquid Tumors:Late Stage

Solid Tumors:Early Stage

Solid Tumors:Late Stage

Total AnnualGlobal TAM

Estim

ated

Rev

enue

$U

SD, B

illio

ns

Global Addressable Market Estimate for CAR-T*

44 Billion134

Billion

26 Billion

229 Billion

433 Billion

• CRISPR should enhance the safety and efficacy of next generation CAR-T therapies.• Globally, CAR-T cancer immunotherapy could generate revenues of $433 billion per year in revenues, with

royalties payable to CRISPR companies.

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CRISPR’S TOOLBOX SHOULD DISRUPT MORE THAN MEDICINE

WHY INVEST IN THE GENOMIC REVOLUTION?

Source: ARK Investment Management LLC, 2018

Manufacturingand Materials

Diagnostics

Microbiome and Population Health

Biodefenseand Surveillance

Biofuels and Sustainability

DNA Storage

Hack living organisms to produce synthetic proteins and enzymes at scale.

Enable cheap, rapid point-of-care diagnostics.

Track infectious diseases and bio-attack threats.

Archive massive amounts of data in a nanogram of DNA.

Induce superbugs to “self-combust,” addressing antibiotic resistance issues.

Increase the efficiency of ethanol production by 2-fold.

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CRISPR USE CASE: AGRICULTURE

• Minimizes environmental footprint

• Avoids traditional GMO’s in which foreign DNA infiltrates genes

• Aids small, family-owned farms with breeding techniques that lower the risk of disease

• Meets global demand for a diversified diet

• Reduces energy consumption associated with inefficient farmed fishing methods

• Breed TB- and other disease-resistant cattle• Shift breeding practices from random to more scientific techniques• Raise pigs with lower fat content • Increase the milk yield of cows

• Yield more productive, pesticide-free, and weather/bug resistant crops • Enhance taste and nutritional value• Surface new seed variants for hard-to-modify crops like wheat and rice

• Cut gestation periods in half• Increase the conversion of feed into weight• Sterilize farmed fish to protect wildlife• Breed disease-resistant fish to avoid food poisoning

CRISPR

Source: ARK Investment Management LLC, 2018

WHY INVEST IN THE GENOMIC REVOLUTION?

• CRISPR should increase the yields of livestock, crops, and aquaculture in different ways:

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$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

$160.00

$180.00

Livestock Crops Aquaculture Total

Incr

emen

tal R

even

ues

$USD

bill

ions

Global Agriculture Market Expansion with CRISPR Technology(2016 to 2025)

CRISPR USE CASE: AGRICULTURE

CRISPR should have the first commercial impact in Agriculture:

• 2020: CRISPR could enable the first commercial waxy corn variety

• 2025: CRISPR may increase food yield by an estimated 585 trillion calories

• 2025: CRISPR may increase agricultural productivity enough to feed an additional 800 million people

Forecasts are inherently limited and cannot be relied upon.Source: ARK Investment Management LLC, 2018

169 Billion

21 Billion

35 Billion

113 Billion

WHY INVEST IN THE GENOMIC REVOLUTION?

• By 2025, CRISPR could expand the agricultural market by an estimated $170 billion, sustaining projected growth in the global population.

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1. Exposure To Innovation: Aims for thematic multi-cap exposure to innovative elements including gene therapy bio-informatics, bio-inspired computing, molecular medicine, and pharmaceutical innovations.

2. Growth Potential: Aims to capture long-term alpha+ with low correlation of relative returns to traditional growth strategies and negative correlation to value strategies.

3. Tool For Diversification: Offers a tool for diversification due to little overlap with traditional indices. It can be a complement to traditional value/growth strategies.

4. Grounded In Research: Combines top-down and bottom-up research in its portfolio management to identify innovative companies and convergence across markets.

5. Cost Effective: Provides a lower cost alternative to mutual funds with true active management in an exchange traded fund (ETF) that invests in rapidly moving themes.

5 REASONS WHY INVESTORS SHOULD CONSIDER ARKG

+Alpha is a measure of performance on a risk-adjusted basis. It takes the volatility (price risk) of a fund and compares its risk-adjusted performance to a benchmark index. The excess return of the fund relative to the return of the benchmark is a fund’s alpha. Beta is the current measure of a portfolio’s risk in relation to the market or a benchmark

ARK SEEKS TO CAPTURE THE GENOMIC REVOLUTION

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ARK’s INNOVATION ETFs

Holdings are subject to change and should not be considered as investment advice, or a recommendation to buy, sell or hold any particular security.

[1] Awarded by Fund Intelligence. For detailed award information see disclosure. Source: ARK Investment Management LLC; All data as of March 31, 2019

PORTFOLIO COMPOSITION

Gene Therapy 21.0%

Molecular Diagnostics 16.1%

Bioinformatics 14.9%

Beyond DNA 13.1%

Instrumentation 12.7%

Targeted Therapeutics 12.5%

Next Generation Oncology 7.4%

Stem Cells 1.9%

Agricultural Biology 0.3%

TOP 10 HOLDINGS WeightINVITAE CORP 10.8%ILLUMINA INC 8.9%INTELLIA THERAPEUTICS INC 7.4%EDITAS MEDICINE INC 6.5%VERACYTE INC 5.8%MEDIDATA SOLUTIONS INC 4.7%CRISPR THERAPEUTICS AG 4.4%NANOSTRING TECHNOLOGIES INC 4.4%BLUEBIRD BIO INC 4.0%CELLECTIS - ADR 3.5%

60.4%

MARKET CAPITALIZATION

Mega (100 B+) 5.9%Large (10-100 B) 17.2%Medium (2-10 B) 21.6%Small (300M-2B) 43.2%Micro (50-300M) 11.9%

SECTORS

Health Care 93.9%Information Technology 5.9%Funds 0.2%

ARK Genomic Revolution ETF (ARKG)“Where Health Care Meets Technology”

Genomic sequencing is changing the way biological information is collected, processed, and applied. ARKG is focused on the disruptive innovations that are increasing precision, restructuring health care, agriculture, pharmaceuticals, and enhancing the quality of life.

• All cap, cross-sector exposure• Conviction-weighted equities

• Ticker: ARKG• Fund AUM: $394 Million• Holdings: 30-50 U.S. Equities/U.S.-listed ADRs• Expense Ratio: 0.75%

“ETF Innovation” (2018)1

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ARK’s INNOVATION ETFs

THEMATIC STRATEGIES FOCUSED ON DISRUPTIVE INNOVATION

[+] Awarded by Fund Intelligence. [++] Awarded by ETF.com. [+++] Awarded by Fund Action. For detailed award information see disclosure.

ARK Innovation ETF1,2

Ticker: ARKK

ARK Web x.0 ETF3

Ticker: ARKW

ARK Industrial Innovation ETFTicker: ARKQ

ARK Genomic Revolution ETF4

Ticker: ARKG

Israel Innovative TechnologyTicker: IZRL

The 3D Printing ETFTicker: PRNT

(1) “Active ETF of the Year” (2017, 2018)+

(2) “ETF of the Year” (2017)++

(3) “ETF Innovative Product of the Year” (2015)+++

(4) “ETF Innovation” (2018)+

ARK Fintech Innovation ETFTicker: ARKF

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ARK Invest3 East 28th Street, 7th Floor

New York, NY 10011

©2019, ARK Investment Management LLC. No part of this material may be reproduced in any form, or referred to in any other publication, without the expresswritten permission of ARK Investment Management LLC (“ARK”).

The information provided is for informational purposes only and is subject to change without notice. This presentation does not constitute, either explicitly orimplicitly, any provision of services or products by ARK, and investors should determine for themselves whether a particular investment management service issuitable for their investment needs. All statements made regarding companies or securities are strictly beliefs and points of view held by ARK, and are notendorsements by ARK of any company or security or recommendations by ARK to buy, sell or hold any security. Historical results are not indications of futureresults.

Certain of the statements contained in this presentation may be statements of future expectations and other forward-looking statements that are based on ARK'scurrent views and assumptions, and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materiallyfrom those expressed or implied in such statements. The matters discussed in this presentation may also involve risks and uncertainties described from time to timein ARK's filings with the U.S. Securities and Exchange Commission. ARK assumes no obligation to update any forward-looking information contained in thispresentation. ARK and its clients as well as its related persons may (but do not necessarily) have financial interests in securities or issuers that are discussed.Certain information was obtained from sources that ARK believes to be reliable; however, ARK does not guarantee the accuracy or completeness of anyinformation obtained from any third party.

www.ark-funds.com

For information regarding ARK’s ETFs, please contact our sales partner, Resolute Investment Distributors at 1-800-679-7759 or send an email to etfs@ark-invest.com

Factsheet, prospectus, and latest performance reports at available for download on our website: ark-funds.com/investor-material

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DISCLOSURES 1/3

Investors should carefully consider the investment objectives and risks as well as charges and expenses of an ARK ETF beforeinvesting. This and other information are contained in the ARK ETFs’ prospectuses, which may be obtained by visiting www.ark-funds.com. The prospectus should be read carefully before investing.

Fund Risks: The principal risks of investing in ARKG: Equity Securities Risk. The value of the equity securities the Fund holds may falldue to general market and economic conditions. Foreign Securities Risk. Investments in the securities of foreign issuers involve risksbeyond those associated with investments in U.S. securities. Health Care Sector Risk. The health care sector may be adverselyaffected by government regulations and government health care programs, restrictions on government reimbursements for medicalexpenses, increases or decreases in the cost of medical products and services and product liability claims, among other factors. Manyhealth care companies are heavily dependent on patent protection and intellectual property rights and the expiration of a patentmay adversely affect their profitability. Biotechnology Company Risk. A biotechnology company’s valuation can often be basedlargely on the potential or actual performance of a limited number of products and can accordingly be greatly affected if one of itsproducts proves, among other things, unsafe, ineffective or unprofitable. Biotechnology companies are subject to regulation by, andthe restrictions of, the U.S. Food and Drug Administration, the U.S. Environmental Protection Agency, state and local governments, andforeign regulatory authorities. Pharmaceutical Company Risk. Companies in the pharmaceutical industry can be significantlyaffected by, among other things, government approval of products and services, government regulation and reimbursement rates,product liability claims, patent expirations and protection and intense competition. Detailed information regarding the specific risks ofARKG can be found in the ETF’s prospectus. Additional risks of investing in ARKG include Foreign Securities Risk, InformationTechnology Sector Risk, equity, market, management and non-diversification risks, as well as fluctuations in market value and NAV.

The Adviser expects to invest at least 80% of the Fund’s assets in Genomics Revolution Companies. However, certain of thesecompanies do not currently derive a substantial portion of their current revenues from genomic-focused businesses and there is noassurance that any company will do so in the future, which may adversely affect the ability of the Fund to achieve its investmentobjective.

An investment in an ETF is subject to risks and you can lose money on your investment in an ETF. There can be no assurance that the ETFwill achieve its investment objective. The ETF’s portfolio is more volatile than broad market averages. Shares of ARKG are bought andsold at market price (not NAV) and are not individually redeemed from the ETF. ETF shares may only be redeemed directly with theETF at NAV by Authorized Participants, in very large creation units. There can be no guarantee that an active trading market for ETFshares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on anexchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detractsignificantly from investment returns.

Portfolio holdings will change and should not be considered as investment advice or a recommendation to buy, sell or hold any particular security.Please visit www.ark-funds.com for the most current list of holdings for the ARK ETFs.

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DISCLOSURES 2/3

Index Descriptions: The S&P 500® Index is a widely recognized capitalization-weighted index that measures the performance of the large-capitalization sector of the U.S. stock market. The MSCI World Index represents large and mid-cap equity performance across 23 developedmarkets countries. Securities in the ETF’s portfolio will not match those in any index. The active ETFs are benchmark agnostic and correspondingportfolios may have significant non-correlation to any index. Index returns are generally provided as an overall market indicator. You cannotinvest directly in an index. Although reinvestment of dividend and interest payments is assumed, no expenses are netted against an index’sreturns. An indication of interest in response to this advertisement will involve no obligation or commitment of any kind.

The information herein is general in nature and should not be considered financial, legal or tax advice. An investor should consult a financialprofessional, an attorney or tax professional regarding the investor’s specific situation. Certain information was obtained from sources that ARKbelieves to be reliable; however, ARK does not guarantee the accuracy or completeness of any information obtained from any third party.

ARK Investment Management LLC is the investment adviser to the ARK ETFs.

Foreside Fund Services, LLC, distributor.

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Award Information“Women In Finance, Outstanding Contribution” 2016: Number of Nominees: Unknown. Ranking Entity: Markets Media; Length of the period: 12 MonthsCriteria on which the ranking is based: Markets Media’s editorial team identifies candidates via online submissions from market participants, including those across the institutional buyside and sell side. (Award Page: marketsmedia.com/announcing-the-2016-markets-choice-award-winners/)

“ETF Innovative Product of the Year” 2016— Number of Nominees: Four; Ranking Entity: Fund Action; Length of the period: 12 MonthsCriteria on which the ranking is based: 1. Positive inflows and performance – against an immediate peer group; 2. Genuine innovation in a number of areas – fees, distribution andnew investment ideas; 3. The market perception and the opinion of the analyst community; 4. Feedback from key investor representatives – intermediaries and distribution platforms(Award Page: eiseverywhere.com/ehome/148459/338713/?&)

“ETF Provider of the Year” and “Active ETF of the Year” 2018— Number of Nominees: Unknown. Ranking Entity: Fund Intelligence; Length of the period: 12 Months;

“ETF Suite of the Year”, “ETF Innovation”, and “Active ETF of the Year” 2019— Number of Nominees: See below. Ranking Entity: Fund Intelligence; Length of the period: 12 Months;Other Finalists “Active ETF of the Year” 2018: TrimTabs All Cap U.S. Free-Cash-Flow ETF (TTAC), WBI BullBear Yield 1000 ETF (WBIG), WisdomTree U.S. Quality Shareholder YieldFund (QSY); Other Finalists “ETF Suite of the Year” 2018: DWS’ Xtrackers ESG ETF suite, Global X Suite of Thematic Growth ETFs, IndexIQ’s Alternative ETF Suite, Invesco’s SmartBeta ETF Suite, WisdomTree’s Rising Rates Solutions Suite; Other Finalists “ETF Innovation” 2018: Global X MLP & Energy Infrastructure ETF (MLPX), Nationwide MaximumDiversification U.S. Core Equity ETF (MXDU, PPTY-U.S. Diversified Real Estate ETF (PPTY), Salt High truBeta™ US Market ETF (SLT), Vesper U.S. Large Cap Short-Term ReversalStrategy ETF (UTRN), WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) | Methodology: Ranking Entity: Fund Intelligence; Length of the period: 12 Months; Criteria onwhich the ranking is based: The winners are comprised of the individuals and firms who have been nominated via the online submission process and through recommendations frommarket participants. Judges will use the submitted application material, as well as any uploaded supplemental information, to make a determination on the firm, individual or productthey believe to be the most suitable and deserving winners for each category. The Judges’ Choice Awards are adjudicated by a panel of industry experts convened by the FundAction and Fund Directions editorial teams. The industry judges contribute their sector expertise to debate the merits of shortlist candidates to come to a decision on the winners.(Award Page: mutualfundindustryawards.awardstage.com/)

“ETF of the Year” 2017 — Other Finalists: iShares Core S&P 500 ETF (IVV), SPDR Portfolio Total Stock Market ETF (SPTM), U.S. Tax Reform Fund (TAXR), WisdomTree EmergingMarkets ex-State-Owned Enterprises Fund (XSOE), Vanguard Total Bond Market ETF (BND); Ranking Entity: ETF.com; Length of the period: 12 Months

“Most Innovative ETF Issuer of the Year” 2017 — Other Finalists: Alpha Architect, EventShares, Exchange Traded Concepts, iShares by BlackRock, State Street Global Advisors;Ranking Entity: ETF.com; Length of the period: 12 Months

ETF.com Awards Page: etf.com/sections/features-and-news/and-2017-etfcom-awards-winners-are | Methodology: ETF.com Award winners are selected in a three-part process designedto leverage the insights and opinions of leaders throughout the ETF industry. Step 1: The awards process began with an open nomination period running from Dec. 4, 2017, throughJan. 2, 2018. We received hundreds of nominations from participants in all corners of the ETF space. Step 2: Following the open nominations process, the ETF.com Awards NominatingCommittee—made up of senior leaders at ETF.com, Inside ETFs and FactSet—voted to select up to five finalists in each category. Votes were tallied on a majority basis. The membersof the 2017 Nominating Committee were: Matt Hougan, CEO, Inside ETFs (Chair); Paul Britt, Senior Analyst, FactSet; Elisabeth Kashner, Director of ETF Research, FactSet; DaveNadig, Managing Director, ETF.com; Drew Voros, Editor-in-Chief, ETF.com Step 3: Winners from these finalists were selected by a majority vote of the ETF.com Awards SelectionCommittee, a group of independent ETF experts. Committee members recused themselves from voting in any category in which they or their firms appeared as finalists. Ties weredecided where possible with head-to-head runoff votes. The members of the 2017 Awards Selection Committee were: Kim Arthur, Main Management; Eric Balchunas, BloombergIntelligence; Ben Blaisdell, US Trust; Rob Glownia, RiverFront; Tom Lydon, ETFtrends; Phil Mackintosh, Virtu; Tyler Mordy, Forstrong Global Asset Management; Jason Nicastro, LPLFinancial; Todd Rosenbluth, CFRA; Jim Wiandt, Industry Expert. Voting was completed by Jan. 20, 2018, but results were kept secret until their announcement at the ETF.com U.S.Awards Dinner on March 22, 2018

Past performance is not indicative of future performance. The Adviser did not pay a fee to be considered for or granted the awards. The Adviser did not pay any fee to the grantorof the awards for the right to promote the Adviser's receipt of the awards nor was the Adviser required to be a member of an organization to be eligible for the awards.

DISCLOSURES 3/3