Leading the Defined Outcome ETF Revolution™

Volatility is a measure of the dispersion of returns around the average. Beta is a measure of the sensitivity of a security's price to changes in a benchmark index. Risk/return is the relationship between the amount of return gained on an investment and the amount of risk undertaken in that investment. Max drawdown is the maximum observed loss from a portfolio's peak value to its trough, before a new peak value is attained.

This portfolio builder tool is issued by Innovator Capital Management, LLC, the issuer and responsible entity of the Innovator ETFs. Any person wishing to invest in an Innovator ETFs should obtain a copy of the relevant Product Disclosure Statement from https://www.innovatoretfs.com/ and obtain financial advice in light of their individual circumstances.

The information provided through this tool is general information only and does not take into account any person’s financial circumstances, investment time frame, risk tolerance level and investment goals. Investors should consider the appropriateness of the information taking into account such factors. Diversification does not eliminate the risk of experiencing investment losses. There is no assurance that investing in accordance with the provided tools will provide positive performance over any period of time. This tool is provided for information purposes only and is not a recommendation to make any investment or adopt any investment strategy. Investors should consult with their own advisors before engaging in any transaction.

Investments in Innovator ETFs are subject to investment risk and investors may not get back the full amount originally invested. Future outcomes are inherently uncertain. Actual outcomes may differ materially from those contemplated in any opinions, estimates or other forward-looking statements given through this tool or the portfolio summary. Innovator does not guarantee the performance of any fund or portfolio, or the repayment of capital or any rate of return.

Innovator does not recommend any specific asset allocations and this information should not be considered as an offer or solicitation with respect to the purchase or sale of any security. This tool should not be used as the primary basis for your investment decisions.

Any specific content included herein or relating to the Portfolio Builder provided by Innovator, including descriptions, allocations, fund details and disclosures, may not be altered in any way, and may not be reproduced, disseminated, sold, distributed, published, broadcast, circulated, or commercially exploited in any manner, except as shared by a financial advisor with its client in accordance with the financial advisor's own professional judgment in connection with investment advice provided by such financial advisor to such client and pursuant to an agreement by such financial advisor with its client whereby such financial advisor assumes responsibility for providing investment advisory services to such client, and the financial advisor and its client have read and understood any related disclosure documents.

FLEX Options Risk The Fund will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (OCC). In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the Fund could suffer significant losses. Additionally, FLEX Options may be less liquid than standard options. In a less liquid market for the FLEX Options, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices. The values of FLEX Options do not increase or decrease at the same rate as the reference asset and may vary due to factors other than the price of reference asset.

Shares are bought and sold at market price, not net asset value (NAV), and are not individually redeemable from the fund. NAV represents the value of each share's portion of the fund's underlying assets and cash at the end of the trading day. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where fund shares are listed.

Non-U.S. securities and Emerging Markets are subject to higher volatility than securities of domestic issuers due to possible adverse political, social or economic developments, restrictions on foreign investment or exchange of securities, lack of liquidity, currency exchange rates, excessive taxation, government seizure of assets, different legal or accounting standards, and less government supervision and regulation of securities exchanges in foreign countries.

Investors purchasing shares after an outcome period has begun may experience very different results than funds’ investment objective. Initial outcome periods are approximately 1-year beginning on the funds’ inception date. Following the initial outcome period, each subsequent outcome period will begin on the first day of the month the fund was incepted. After the conclusion of an outcome period, another will begin.

9% US Equity Buffer - (Month) Strategy:
represented by the MerQube US Large Cap (Month) Index. The Index provides an outcome in which the index participates equally in the downside of SPY with a buffer against losses up until 9%. The index provides upside participation in the returns of SPY up until a cap. The outcome is obtained by holding the index for a period of one year starting on the corresponding month. For the full calculation methodology pleaseclick here.

15% US Equity Buffer - (Month) Strategy:
represented by the Cboe S&P 500 (Month) 15% Buffer Protect Index (Month) Series. The Index measures the performance of a portfolio of hypothetical exchange traded Flexible Exchange® Options (“FLEX® Options”) that are based on the S&P 500® Index. The index is designed to track the returns of a hypothetical investment that over a period of approximately one year seeks to “buffer protect” against the first 15% of losses due to a decline in the S&P 500 Index while providing participation up to a capped level. The capped level is determined on each annual roll date such that there is no premium or discount to enter into the hypothetical investment compared to an investment in the Index. For the full calculation methodology pleaseclick here.

US Small-Cap 15% Buffer - (Month) Strategy:
represented by the MerQube US Large Cap (Month) Buffer Index. The index provides an outcome in which the index participates equally in the downside of the iShares Russell 2000 ETF (IWM) with protection against losses up to 15%. The index provides upside participation in the returns of the iShares Russell 2000 ETF (IWM) up to a “Cap”. The outcome is obtained by holding the index for a period of one year starting on the first day of the month. For the full calculation methodology pleaseclick here.

30% US Equity Buffer - (Month) Strategy:
represented by the Cboe S&P 500 30% (-5% to -35%) Buffer Protect Index (Month) Series. The Index measures the performance of a portfolio of hypothetical exchange traded Flexible Exchange® Options (“FLEX® Options”) that are based on the S&P 500® Index. The index is designed to track the returns of a hypothetical investment that over a period of approximately one year and seeks to “buffer protect” against losses of 30% after the first 5% of losses due to a decline in the S&P 500 Index while providing participation up to a capped level. The capped level is determined on each annual roll date such that there is no premium or discount to enter into the hypothetical investment compared to an investment in the Index. For the full calculation methodology pleaseclick here.

20% US Equity Quarterly Buffer Strategy:
represented by MerQube US Equity Protection Index. The index provides an outcome in which the index provides upside participation in the SPDR S&P 500 ETF (SPY) until a “Cap” of at least 60bps per quarter, and equally participates in the downside of SPY with protection against losses until a maximum of 20% for that quarter. In some cases, the quarterly buffer protection is lowered from 20% to provide a minimum cap of 60bps. For the full calculation methodology pleaseclick here.

Emerging Market 15% Buffer (Month) Strategy:
as represented by the MerQube Emerging Market buffer index. The index provides an outcome in which the index participates equally in the downside of the iShares MSCI Emerging Markets ETF (EEM) with protection against losses up until 15%. The index provides upside participation in the returns of the iShares MSCI Emerging Markets ETF (EEM) up until a “Cap”. The outcome is obtained by holding the index for a period of one year starting on the first day of the month. For the full calculation methodology pleaseclick here.

International Developed 15% (Month) Strategy:
represented by the MerQube Developed Ex. US Buffer index. The index provides an outcome in which the index participates equally in the downside of the iShares MSCI EAFE ETF (EFA) with protection against losses up until 15%. The index provides upside participation in the returns of the iShares MSCI EAFE ETF (EFA) up until a “Cap”. The outcome is obtained by holding the index for one year. For the full calculation methodology pleaseclick here.

20+ Year Treasury 9% (Month) Strategy:
represented by the MerQube US (Month) Long Term Treasury Index. The Index provides an outcome in which the index participates equally in the downside of the iShares 20+ Year Treasury Bond ETF (TLT) with protection against losses up until 9%. The index provides upside participation in the returns of the iShares 20+ Year Treasury Bond ETF (TLT) up until a “Cap”. For the full calculation methodology pleaseclick here.

20+ Year Treasury 5% Floor (Month) Strategy:
represented by the MerQube US (Month) Long Term Treasury Floor Index. The Index provides an outcome in which the index participates equally in the downside of the iShares 20+ Year Treasury Bond ETF (TLT) up to a loss of 5% and protects against any further losses. The index provides upside participation in the returns of the iShares 20+ Year Treasury Bond ETF (TLT) up until a “Cap”. For the full calculation methodology pleaseclick here.

2X Accelerated (Month) Strategy:
represented by the MerQube US (Month) Accelerated (2X Up, 1X Down) Index. The index provides an outcome in which the index participates fully in the downside of the SPDR S&P 500 ETF (SPY), and provides 2X upside participation in the returns of the SPDR S&P 500 ETF (SPY) up until a “Cap”, where the amount of upside participation is determined by current options prices. The outcome is obtained by holding the index for one year. For the full calculation methodology pleaseclick here.

2X Accelerated 9% Buffer (Month) Strategy:
represented by the MerQube US (Month) Accelerated (2x Up, 1x Dn) with 9% Buffer Indicex. The index provides an outcome in which the index participates equally in the downside of the SPDR S&P 500 ETF (SPY), with protection against losses up to 9%, and provides 2X upside participation up to a “Cap”, determined based on option prices at rebalance. The outcome is obtained by holding the index for one year. For the full calculation methodology pleaseclick here.

3X Accelerated Strategy (Month) Strategy:
represented by the MerQube US January Accelerated (3X Up, 1X Down) Index. The Index provides an outcome in which the index participates fully in the downside of the SPDR S&P 500 ETF (SPY), and provides 3X upside participation in the returns of the SPDR S&P 500 ETF (SPY) up until a “Cap”, where the amount of upside participation is determined by current options prices. The outcome is obtained by holding the index for one year. For the full calculation methodology pleaseclick here.

Uncapped Accelerated Strategy:
represented by the MerQube US Large Cap Uncapped Accelerated Index. MerQube Uncapped Accelerated indices participate fully in the downside of the reference asset and amplify upside participation in excess of the “Upside Threshold” by the upside “Multiplier”. The enhanced returns are achieved by foregoing upside participation up until the “Upside Threshold”. The “Multiplier” is determined at rebalancing based on options prices. For the full calculation methodology pleaseclick here.

Double Stacker 9% Buffer (Month) Strategy:
represented by the MerQube US (Month) Double Stacker Buffer Index. The index provides an outcome in which the index protects against any losses in the SPDR S&P 500 ETF (SPY) up to 9% and participates equally in the downside of SPY for losses of more than 9%. The index provides an upside participation in the returns of the SPDR S&P 500 ETF (SPY) and Invesco QQQ Trust (QQQ) up to a “Cap”. For the full calculation methodology pleaseclick here.

Double Stacker (Month) Strategy:
represented by the MerQube US (Month) Double Stacker Index provide an outcome in which the index participates fully in the downside of the SPDR S&P 500 ETF (SPY), and provides upside participation in the returns of the SPDR S&P 500 ETF (SPY) up until a “Cap”, as well as upside participation in the returns of the Invesco QQQ Trust (QQQ) up until the same “Cap”. For the full calculation methodology pleaseclick here.

Triple Stacker (Month) Strategy:
represented by the MerQube Triple Stacker indices provide an outcome in which the index participates fully in the downside of the SPDR S&P 500 ETF (SPY), and provides upside participation in the SPDR S&P 500 ETF (SPY), the Invesco QQQ Trust (QQQ), and the iShares Russell 2000 ETF (IWM), up to a “Cap” (which is the same for all three). For the full calculation methodology pleaseclick here.

Broad Index Definitions & Descriptions

US Equities:
represented by the S&P500 Index. The index is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

US Core Bonds:
represented by the Bloomberg US Agg Index. The index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate pass-throughs), ABS and CMBS (agency and non-agency).

US High Yield Bonds:
represented by the Bloomberg US Corporate High Yield Bond Index. The index measures the USD-denominated, high yield, fixed-rate corporate bond market. Securities are classified as high yield if the middle rating of Moody's, Fitch and S&P is Ba1/BB+/BB+ or below. Bonds from issuers with an emerging markets country of risk, based on Bloomberg EM country definition, are excluded.

US TIPS:
represented by the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). The Index measures the performance of the US Treasury Inflation Protected Securities (TIPS) market. Federal Reserve holdings of US TIPS are not index eligible and are excluded from the face amount outstanding of each bond in the index.

US 1-3 Year Treasuries:
represented by the Bloomberg US Treasury: 1-3 Year Index. The index measures US dollar-denominated, fixed-rate, nominal debt issued by the US Treasury with 1-2.999 years to maturity. Treasury bills are excluded by the maturity constraint, but are part of a separate Short Treasury Index. STRIPS are excluded from the index because their inclusion would result in double-counting.

US Treasury Bills:
represented by the Bloomberg US Treasury Bill Index. The index tracks the market for treasury bills issued by the US government. US Treasury bills are issued in fixed maturity terms of 4-, 13-, 26- and 52-weeks.

Municipal Bonds:
represented by the Bloomberg U.S. Municipal Index covers the USD-denominated long-term tax exempt bond market. The index has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds and pre-refunded bonds.

Preferred Stocks:
represented by the ICE Exchange-Listed Preferred & Hybrid Securities Index. The Index tracks a basket of market value weighted preferred securities.

S&P 500 Low Volatility Index:
is designed to measure the performance of the 100 least volatile stocks of the S&P 500 Index Volatility is defined as the standard deviation of the security computed using the daily price returns over 252 trading days.

S&P 500 Quality Index:
holds securities with the highest quality score, which is calculated based on three fundamental measures; return on equity, accruals ratio & financial leverage ratio.

S&P500 Dividend Index:
measure the performance of S&P 500 companies that have increased dividends every year for the last 25 consecutive years. The Index treats each constituent as a distinct investment opportunity without regard to its size by equally weighting each company.

S&P 500 Momentum Index:
designed to measure the performance of securities in the S&P 500 universe that exhibit persistence in their relative performance.

S&P 500 Value Index:
is a market capitalization weighted index. All the stocks in the underlying parent index are allocated into value or growth. Stocks that do not have pure value or pure growth characteristics have their market caps distributed between the value & growth indices.

S&P 500 Growth Index:
is a market capitalization weighted index. All the stocks in the underlying parent index are allocated into value or growth. Stocks that do not have pure value or pure growth characteristics have their market caps distributed between the value & growth indices.

Global REITs:
represented by the S&P Global REIT USD Total Return Index, the S&P Global REIT serves as a comprehensive benchmark of publicly traded equity REITs listed in both developed and emerging markets.

MSCI World Index:
captures large and mid-cap representation across 23 Developed Markets (DM) countries*. With 1,517 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country.

MSCI World ex-US Index:
captures large and mid-cap representation across 22 of 23 Developed Markets (DM) countries*-- excluding the United States. With 887 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country.

MSCI ACWI Index:
is a free-float weighted equity index. It was developed with a base value of 100 as of December 31 1987. The index includes both emerging and developed world markets.

MSCI EAFE Index:
s a free-float weighted equity index. The index was developed with a base value of 100 as of December 31, 1969. The MSCI EAFE region covers DM countries in Europe, Australasia, Israel, and the Far East

MSCI Emerging Markets Index:
is a free-float weighted equity index that captures large and mid-cap representation across Emerging Markets (EM) countries. The index covers approximately 85% of the free float-adjusted market capitalization in each country.

NASDAQ 100 Index:
is a modified capitalization-weighted index of the 100 largest and most active non-financial domestic and international issues listed on the NASDAQ. No security can have more than a 24% weighting. The index was developed with a base value of 125 as of February 1, 1985. Prior to December 21,1998 the Nasdaq 100 was a cap-weighted index.

The Russell 2000 Index:
measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 Index is a subset of the Russell 3000 Index representing approximately 8% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.

Fund shareholders are subject to an upside return cap (the “Cap”) that represents the maximum percentage return an investor can achieve from an investment in the funds’ for the Outcome Period, before fees and expenses. If the Outcome Period has begun and the Fund has increased in value to a level near to the Cap, an investor purchasing at that price has little or no ability to achieve gains but remains vulnerable to downside risks. Additionally, the Cap may rise or fall from one Outcome Period to the next. The Cap, and the Fund’s position relative to it, should be considered before investing in the Fund. The Funds’ website, www.innovatoretfs.com, provides important Fund information as well information relating to the potential outcomes of an investment in a Fund on a daily basis.

Defined Outcome funds which seek a buffer only seek to provide shareholders that hold shares for the entire Outcome Period with their respective buffer level against reference asset losses during the Outcome Period. You will bear all reference asset losses exceeding the buffer. Depending upon market conditions at the time of purchase, a shareholder that purchases shares after the Outcome Period has begun may also lose their entire investment. For instance, if the Outcome Period has begun and the Fund has decreased in value beyond the pre-determined buffer, an investor purchasing shares at that price may not benefit from the buffer. Similarly, if the Outcome Period has begun and the Fund has increased in value, an investor purchasing shares at that price may not benefit from the buffer until the Fund’s value has decreased to its value at the commencement of the Outcome Period.

The Funds' investment objectives, risks, charges and expenses should be considered before investing. The prospectus contains this and other important information, and it may be obtained at innovatoretfs.com. Read it carefully before investing.