BUFFER ETFs™

BUFFER ETFsTM

Innovator Defined Outcome ETFsTM Series

? Defined downside buffer levels ? Exposure to upside performance of major equity markets, to a cap ? Low-cost, flexible, liquid, and transparent ? Tax-efficient ? No credit risk ? Resets annually and can be held indefinitely

The Funds have characteristics unlike many other traditional investment products and may not be suitable for all investors. For more information regarding whether an investment in the Fund is right for you, please see "Investor Suitability" in the prospectus. Market Disruptions Resulting from COVID-19. The outbreak of COVID-19 has negatively affected the worldwide economy, individual countries, individual companies and the market in general. The future impact of COVID-19 is currently unknown, and it may exacerbate other risks that apply to the Fund.

Every once in a while, a revolutionary product comes along with the potential to change the way we invest. Today we are pleased to announce one of those products.

Innovator Defined Outcome ETFsTM is the first group of ETFs designed to provide investors with the growth of the equity markets, with built-in buffers.

This is truly innovative.

H. Bruce Bond

CEO, Innovator ETFs August 8th, 2018

ABOUT INNOVATOR

Innovator Capital Management, LLC has a legacy of innovative investment solutions. Formed in 2014, the firm is headed by ETF visionaries Bruce Bond and John Southard, founders of one of the largest ETF providers in the world. Innovation is our hallmark and acts as a guide to our company's principles. Our passion is to provide investors with investment opportunities they never considered or thought possible. We are driven by our commitment to help people better control their financial outcomes.

Innovator Buffer ETFsTM seek to provide:

REFERENCE ASSETS

Exposure to the price return of major equity markets

SPY

QQQ

IWM

EFA

EEM

DOWNSIDE BUFFERS

Defined downside buffer levels to help reduce risk

9%, 15%, or 30%1

15%

15%

15%

15%

UPSIDE PERFORMANCE

Exposure to a reference asset, to a cap

For current upside performance caps, visit define

OUTCOME PERIOD

ETFs can be held indefinitely, providing structured returns over each outcome period

1 Year

1 Year

1 Year

1 Year

1 Year

1 The Innovator U.S. Equity Ultra Buffer ETFTM seeks to shield investors against losses from -5% to -35%, over the outcome period. ETFs use creation units which allow for the purchase and sale of assets in the fund collectively consequently ETFs usually generate fewer capital gain distributions overall which can make them somewhat more tax efficient than mutual funds. Defined Outcome ETFsTM are not backed by the faith and credit of an issuing institution, so they are not exposed to credit risk. Investors purchasing shares in after an outcome period has begun may experience very different results than the fund's stated 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.

Why now?

? For the first time ever, defined outcome strategies are

available in an ETF.

? Many investors seek equity market growth, with reduced

downside risk. These ETFs provide known levels of both.

? People are living longer in retirement and require growth

with measurable downside risk mitigation.

? We believe many current risk management strategies rely

on the ability to time the market. These ETFs do not.

Most equity investments today target speculative returns, with uncertain levels of risk over an uncertain period of time. Through Innovator Defined Outcome ETFsTM, investors are now able to take advantage of market growth (to a cap) while maintaining a defined downside buffer, over a specified outcome period, removing much of the uncertainty associated with investing in the stock market.

Until now, defined outcome strategies like these have only been available through structured products and certain insurance products. The launch of Innovator Buffer ETFsTM marked the first time investors were able to access structured outcomes through the ETF vehicle, resulting in a remarkably efficient product suite with several benefits.

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What are Innovator Buffer ETFsTM?

Innovator Buffer ETFsTM seek to provide investors with equity market appreciation, up to a cap, and reliable downside buffer levels over a specified period. Innovator anticipates listing monthly series of each U.S. Equity Buffer ETFsTM, and quarterly series of the Growth-100, U.S. Small Cap, International Developed, and Emerging Markets Buffer ETFsTM.

Innovator U.S. Equity Buffer ETFTM Designed to track the return of the SPDR? S&P 500? ETF Trust (SPY), to a cap, while buffering investors against the first 9% of losses over the outcome period, before fees and expenses.

Innovator U.S. Equity Power Buffer ETFTM Designed to track the return of the SPDR? S&P 500? ETF Trust (SPY), to a cap, while buffering investors against the first 15% of losses over the outcome period, before fees and expenses.

Innovator U.S. Equity Ultra Buffer ETFTM Designed to track the return of the SPDR? S&P 500? ETF Trust (SPY), to a cap, while buffering investors against a decline of 30% of losses over the outcome period, from -5% to -35%, before fees and expenses. Investors are exposed to loss between 0% and -5%.

TICKER BJAN BFEB BMAR BAPR BMAY BJUN BJUL BAUG BSEP BOCT BNOV BDEC PJAN PFEB PMAR PAPR PMAY PJUN PJUL PAUG PSEP POCT PNOV PDEC UJAN UFEB UMAR UAPR UMAY UJUN UJUL UAUG USEP UOCT UNOV UDEC

REFERENCE ASSET SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY SPY

OUTCOME PERIOD

1/1/22 - 12/31/22 2/1/22 - 1/31/23 3/1/22 - 2/28/23 4/1/22 - 3/31/23 5/1/22 - 4/30/23 6/1/22 - 5/31/23 7/1/22 - 6/30/23 8/1/22 - 7/31/23 9/1/22 - 8/31/23 10/1/21 - 9/30/22 11/1/21 - 10/31/22 12/1/21 - 11/30/22 1/1/22 - 12/31/22 2/1/22 - 1/31/23 3/1/22 - 2/28/23 4/1/22 - 3/31/23 5/1/22 - 4/30/23 6/1/22 - 5/31/23 7/1/22 - 6/30/23 8/1/22 - 7/31/23 9/1/22 - 8/31/23 10/1/21 - 9/30/22 11/1/21 - 10/31/22 12/1/21 - 11/30/22 1/1/22 - 12/31/22 2/1/22 - 1/31/23 3/1/22 - 2/28/23 4/1/22 - 3/31/23 5/1/22 - 4/30/23 6/1/22 - 5/31/23 7/1/22 - 6/30/23 8/1/22 - 7/31/23 9/1/22 - 8/31/23 10/1/21 - 9/30/22 11/1/21 - 10/31/22 12/1/21 - 11/30/22

STARTING BUFFER 9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 15% 15% 15% 15% 15% 15% 15% 15% 15% 15% 15% 15% 30% 3 30% 3 30% 3 30% 3 30% 3 30% 3 30% 3 30% 3 30% 3 30% 3 30% 3 30% 3

STARTING CAP2

13.54% 14.82% 16.62% 16.30% 20.55% 19.70% 23.70% 22.45% 24.09% 13.69% 12.65% 14.97% 8.99% 10.19% 11.71% 11.59% 14.50% 14.30% 17.42% 15.59% 17.50% 9.16% 8.33% 10.25% 6.89% 7.91% 8.86% 9.41% 11.59% 11.90% 14.40% 13.15% 14.41% 6.49% 6.29% 7.37%

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Innovator Growth-100 Power Buffer ETFTM

Designed to track the price return of the Invesco QQQ Trust (QQQ), to a cap, while buffering investors against the first 15% of losses over the outcome period, before fees and expenses.

TICKER NJAN NAPR NJUL NOCT

REFERENCE ASSET QQQ QQQ QQQ QQQ

OUTCOME PERIOD

1/1/22 - 12/31/22 4/1/22 - 3/31/23 7/1/22 - 6/30/23 10/1/21 - 9/30/22

STARTING BUFFER 15% 15% 15% 15%

STARTING CAP2

10.85% 13.81% 19.83% 10.65%

Innovator U.S. Small Cap Power Buffer ETFTM

Designed to track the price return of the iShares Russell 2000 ETF (IWM), to a cap, while buffering investors against the first 15% of losses over the outcome period, before fees and expenses.

KJAN KAPR KJUL KOCT

IWM IWM IWM IWM

1/1/22 - 12/31/22

15%

4/1/22 - 3/31/23

15%

7/1/22 - 6/30/23

15%

10/1/21 - 9/30/22

15%

11.49% 14.62% 20.01% 13.06%

Innovator International Developed Power Buffer ETFTM

Designed to track the price return of the the iShares MSCI EAFE ETF (EFA) to a cap, while buffering investors against the first 15% of losses over the outcome period, before fees and expenses.

IJAN IAPR IJUL IOCT

EFA

1/1/22 - 12/31/22

15%

8.13%

EFA

4/1/22 - 3/31/23

15%

14.36%

EFA

7/1/22 - 6/30/23

15%

19.95%

EFA

10/1/21 - 9/30/22

15%

9.99%

Innovator Emerging Markets Power Buffer ETFTM

Designed to track the price return of the the iShares MSCI Emerging Markets ETF (EEM) to a cap, while buffering investors against the first 15% of losses over the outcome period, before fees and expenses.

EJAN EAPR EJUL EOCT

EEM

1/1/22 - 12/31/22

15%

EEM

4/1/22 - 3/31/23

15%

EEM

7/1/22 - 6/30/23

15%

EEM

10/1/21 - 9/30/22

15%

11.32% 14.01% 19.07% 13.89%

Innovator Defined Wealth Shield ETFTM

Designed to be a highly defensive investment that seeks to offer a built-in buffer against downside losses while providing upside potential of the SPDR S&P 500 ETF (SPY), to a cap, over each quarterly outcome period.

BALT

SPY

7/1/22 - 9/30/22

20%

2.39%

*2 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. The caps in the table represent the cap levels at the beginning of each respective fund's outcome period. 3 The Innovator U.S. Equity Ultra Buffer ETFTM seeks to shield investors against losses from -5% to -35%, over the outcome period. If the Outcome Period has begun and the Fund has increased in value to a level near the Cap, an investor purchasing at that price has little or no ability to achieve gains but remains vulnerable to downside risks. 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, , provides important Fund information as well information relating to the potential outcomes of an investment in a Fund on a daily basis.

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