Innovator U.S. Equity Ultra Buffer ETF - November UNOV Strategy

The investment seeks to provide investors with returns that match the return of the Underlying ETF, up to the upside cap of 12.00% (prior to taking into account management fees and other fees) while providing a buffer against Underlying ETF losses of between 5% and 35% (prior to taking into account management fees and other fees), over the period from November 1, 2025 to October 31, 2026. The fund invests, 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. It is non-diversified.