Innovator U.S. Equity Power Buffer ETF™ - January PJAN Strategy

The investment seeks to provide investors with returns that match the price return of the SPDR® S&P 500® ETF Trust, up to the upside cap of 12.03% while providing a buffer against the first 15% of SPDR® S&P 500® ETF Trust losses, over the period from January 1, 2025 to December 31, 2025. The fund has adopted a policy pursuant to Rule 35d-1 under the 1940 Act to invest, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in investments that provide exposure to the State Street® SPDR® S&P 500® ETF Trust. The fund is non-diversified.