Company: DEFI
Filing Date: 2025-02-21
Form Type: POS AM
Source: 0001839882-25-010345
Chunk: 215

Company: Tidal Commodities Trust I
Filing Date: 2025-02-21
Form: POS AM
Chunk 215
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 |  9.85 | %  |     – | %   |
| December              |  (3.77 | )% |  7.25 | %  |     – | %   |
| Annual Rate of Return | (16.47 | )% | 34.53 | %  |  4.66 | %   |

+ For the partial month ended September 5, 2024.

<div align='center'>125</div>

CNIC ICE US Carbon Neutral Power Futures Index ETF (TICKER: AMPD)

The CNIC ICE US Carbon Neutral Power Futures Index ETF commenced trading
and investment operations on May 9, 2023. The Fund is listed on NYSE Arca and is neither: (i) a privately offered pool pursuant to Section
4(a)(2) of the 1933 Act; (ii) a multi-advisor pool as defined in CFTC Regulation 4.10(d)(2); or (iii) a principal-protected pool as defined
in CFTC Regulation 4.10(d)(3).

Units of beneficial interest issued (from inception until December 29,
2024): 200,000

Aggregate gross sale price for units issued: $76,892,925

Pool NAV as of December 31, 2024: $4,023,213

NAV per Share as of December 31, 2024: $20.12

Worst monthly percentage drawdown*: -8.02% / May 2023

Worst peak to valley drawdown: **: -10.15% / October 2023 – December
2023

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS

| Rates of Return*      |       |    |       |    |
| Month                 |  2023 |    |  2024 |    |
| January               |       | %  |  2.39 | %  |
| February              |       | %  | (4.89 | )% |
| March                 |       | %  |  2.18 | %  |
| April                 |       | %  |  (.35 | )% |
| May                   | (8.02 | )% |  2.65 | %  |
| June                  |  2.74 | %  |  (.07 | )% |
| July                  |  1.