DELEGATED SERVICES SUB-ADVISORY AGREEMENTSub-Advisory Agreement • September 18th, 2025 • 2023 ETF Series Trust • Delaware
This Delegated Services Sub-Advisory Agreement (the “Agreement”) is made as of this [ ] day of 2025 by and between Pictet Asset Management S.A., a corporation formed under the laws of Switzerland, with its principal place of business at 60 Route Des Acacias, Geneva, Switzerland (the “Adviser”), and Tidal Investments LLC, a Delaware limited liability company, with its principal place of business at 234 West Florida Street, Suite 203, Milwaukee, Wisconsin 53204 (the “Sub-Adviser”), with respect to the series of The 2023 ETF Series Trust (the “Trust”) identified on Schedule A to this Agreement, as may be amended from time to time (each, a “Fund,” and collectively, the “Funds”).
DELEGATED SERVICES SUB-ADVISORY AGREEMENTSub-Advisory Agreement • September 18th, 2025 • 2023 ETF Series Trust • Delaware
This Delegated Services Sub-Advisory Agreement (the “Agreement”) is made as of this [ ] day of 2025 by and between Pictet Asset Management Ltd., a limited company specializing in asset management services and organized under the laws of England and Wales with company number 03093489, with its principal place of business at Moor House, Level 11, 120 London Wall, London EC2Y 5ET, United Kingdom (the “Adviser”), and Tidal Investments LLC, a Delaware limited liability company, with its principal place of business at 234 West Florida Street, Suite 203, Milwaukee, Wisconsin 53204 (the “Sub-Adviser”), with respect to the series of The 2023 ETF Series Trust (the “Trust”) identified on Schedule A to this Agreement, as may be amended from time to time (each, a “Fund,” and collectively, the “Funds”).