Innovator U.S. Equity Power Buffer ETF - January

Innovator U.S. Equity Power Buffer ETF - January is an actively managed exchange-traded fund designed to provide defined outcome exposure to U.S. large-cap equities. The fund seeks to mirror the price return of the SPDR S&P 500 ETF Trust over a one-year outcome period, subject to a predetermined upside cap and a buffer against the first 15% of losses before fees and expenses. It uses FLEX options and collateral to deliver this structure, with the cap and buffer resetting annually. The fund is part of Innovator Capital Management’s suite of defined outcome ETFs and is built for investors seeking broad U.S. equity market participation with a built-in risk-management framework. PJAN is the January series of the strategy and is centered on the S&P 500 Price Return Index through its underlying exposure.