Innovator Equity Defined Protection ETF - 1 Yr April (ZAPR US) - Portfolio Construction Methodology

Core Viewpoint - The Innovator Equity Defined Protection ETF – 1 Yr April aims to provide U.S. large-cap equity exposure while ensuring full downside protection and a capped upside through a structured options strategy [1] Group 1: Investment Strategy - The ETF invests at least 80% of its net assets in European-style FLEX options on SPY, targeting a common April expiration [1] - The strategy includes purchasing puts to absorb 100% of reference-ETF losses for investors holding for the full period [1] - Upside participation is achieved through purchased call options, financed by writing call options that define the cap [1] Group 2: Portfolio Management - Residual cash is maintained in short-term USD instruments to meet collateral and liquidity needs [1] - At each April outcome reset, SPY-linked FLEX positions are rolled into a new one-year structure to keep exposures, cap, and protection aligned [1]