Company: EUO
Filing Date: 2025-03-28
Form Type: 424B3
Source: 0001193125-25-065647
Chunk: 100

Company: ProShares Trust II
Filing Date: 2025-03-28
Form: 424B3
Chunk 100
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 Fund’s average net assets annually. The Funds bear other transaction costs including the effects of trading spreads and financing costs/fees, if any, associated with the use of Financial Instruments, and costs relating to the purchase of U.S. Treasury securities or similar high credit quality short-term fixed-income or similar securities (such as shares of money market funds). MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS The following discussion describes the material U.S. federal (and certain state and local) income tax considerations associated with the purchase, ownership and disposition of Shares as of the date hereof by U.S. Shareholders (as defined below) and non-U.S. Shareholders (as defined below). Except where explicitly noted, this discussion deals only with Shares held as capital assets by shareholders who acquired Shares by purchase and does not address special situations, such as those of: • dealers in securities, currencies or commodities; • financial institutions; • regulated investment companies (“RICs”); • real estate investment trusts; • partnerships (including other entities or arrangements treated as partnerships for U.S federal income tax purposes) and persons in their capacity as partners; • tax-exempt organizations; • insurance companies; • persons holding Shares as a part of a hedging, integrated or conversion transaction or a straddle; • accrual method taxpayers subject to special tax accounting rules as a result of their use of financial statements;

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• traders in securities or commodities that elect to use a mark-to-market method of accounting for their securities or commodities holdings; or • persons liable for the federal alternative minimum tax. Furthermore, the discussion below is based upon the provisions of the Code, the Regulations, and administrative and judicial interpretations thereof, all as of the date hereof, and such authorities may be repealed, revoked, modified or subject to differing interpretations, possibly on a retroactive basis, so as to result in U.S. federal income tax consequences different from those described below and which may adversely affect each Fund and/or its shareholders. A “U.S. Shareholder” of Shares means a beneficial owner of Shares that is for U.S. federal income tax purposes: • an individual that is a citizen or resident of the United States; • a corporation (or other entity taxable as a corporation) created or organized in or under the laws of the United States, any state thereof or the District of Columbia; • an estate the income of which is subject to U.S. federal income taxation regardless of its source; or • a trust if it (1) is