Liquidation: Two Roads Shared Trust

Form Type: 497

Filing Date: 2025-05-21

Corporate Action: Liquidation

Type: Update

Accession Number: 000158064225003223

Filing Summary: The Board of Trustees of Two Roads Shared Trust has decided to liquidate the Foundations Dynamic Core ETF, Foundations Dynamic Growth ETF, Foundations Dynamic Value ETF, and Foundations Dynamic Income ETF, based on recommendations from Regents Park Funds, LLC and Foundations Investment Advisors, LLC. Each Fund will be liquidated on or about June 20, 2025, with the final trading day on June 13, 2025. Shareholders can sell their shares in the secondary market until the end of the trading day on the Closing Date. After this date, shareholders may only sell to certain broker-dealers with no assurance of market availability. Post-liquidation, shareholders will receive a cash redemption representing their share of net assets as of the Liquidation Date and may face taxes on the differences between their redemption amount and tax basis in their shares. No transaction fees will be charged upon the final Liquidating Distribution. Plan sponsors must inform participants about the liquidations and alternative investment options. Shares not sold before the Closing Date will be automatically redeemed on the Liquidation Date.