Company Announcements

• American Opportunities and Focus Growth ETF share classes are now trading
• Expands investor access to Thornburg's actively managed strategies

SANTA FE, N.M. , April 1, 2026 /PRNewswire/ -- Thornburg Investment Management, Inc. ("Thornburg"), a global investment firm overseeing $57 billion¹ in assets, today announced the launch of two actively managed exchange-traded fund (ETF) share classes of its mutual funds: Thornburg American Opportunities Fund (Nasdaq: TAOZ) and Thornburg Focus Growth Fund (Nasdaq: TFGZ).

With these listings, Thornburg is helping advance the ETF landscape as one of the first firms to offer actively managed ETF share classes of mutual funds and is the first to list them on Nasdaq.

"We are pleased to offer clients a new and innovative way to access Thornburg's investment strategies," said Mark Zinkula, CEO of Thornburg. "Extending these mutual funds into ETF share classes underscores our commitment to meeting evolving client demand with actively managed, high-conviction strategies grounded in fundamental research."

Thornburg received ETF share-class exemptive relief earlier this year and subsequently filed to add ETF share classes to the Thornburg American Opportunities Fund and Thornburg Focus Growth Fund.

Since launching its first active ETFs in January 2025, Thornburg's ETF platform has grown to over $600 million in assets.

About Thornburg

Thornburg is an active, high-conviction manager of equities, fixed income, multi-asset and alternative solutions. As a privately owned firm with $57 billion¹ in client assets as of March 31, 2026, Thornburg serves institutions, financial professionals and investors worldwide. The firm offers mutual funds, ETFs, closed-end funds, separate accounts and UCITS funds. Thornburg was founded in 1982 and is headquartered in Santa Fe, New Mexico with an additional office in Hong Kong. For more information, visit www.thornburg.com or call 877 215 1330.

Media Inquiries
Michael Corrao
Director of Global Communications
Thornburg Investment Management
Tel: +1 505 467 5345
Email: mcorrao@thornburg.com

Important Information

Before investing, carefully consider the Fund's investment goals, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your financial advisor or visit thornburg.com. Read them carefully before investing.

The Fund offers both mutual fund share classes and an ETF class of shares. The ETF class shares are listed and traded on a national securities exchange and are not individually redeemable, unlike the mutual fund class shares. An investment in the ETF class shares is not an investment in a mutual fund, and an investment in the mutual fund class shares is not an investment in an ETF.

The Advisor and certain Portfolios have received an exemptive order from the Securities and Exchange Commission permitting these Portfolios to offer both a mutual fund share class and an exchange-traded share class that operates as an ETF. Under this structure, the ETF class shares are listed and traded on a national securities exchange and are generally bought and sold at market-determined prices, whereas the mutual fund share classes are purchased and redeemed at the Portfolio's net asset value next determined after receipt of the order. Because all of the classes of a multi-class Portfolio are based on the same portfolio, transactions through one class could generate portfolio transaction costs and tax consequences for shareholders in other classes. In addition, shareholders of the mutual fund and ETF classes of a multi-class Portfolio will have differing shareholder rights with respect to exchange privileges, how shares are purchased and redeemed, the timing of dividend declarations and payments, and the timing and ability to automatically reinvest dividends. For additional information regarding these differences, please see the applicable multi-class Portfolio's prospectus.

Each Fund's ETF Class shares are listed and traded on a national securities exchange and, unlike the Fund's mutual fund class shares, are not individually redeemable. In addition to ETF Class shares, the Fund offers one or more classes of mutual fund shares. An investment in the Fund's ETF Class shares is not an investment in a mutual fund.

Tax efficiency benefits associated with ETF Class shares are not guaranteed and may vary based on market conditions, portfolio activity, and shareholder transactions.

The Fund is actively managed and does not seek to replicate the performance of a specified index.

Expenses differ between the Fund's ETF Class shares and mutual fund share classes.

Risks associated with investing in the Fund's ETF Class shares may include, but are not limited to: (1) Investment Adviser Risk, which is the risk that the Adviser's investment decisions may not produce the intended results. (2) Derivatives Risk, as the Funds' use of derivatives—including futures, options, swaps, and forward contracts—may expose them to risks related to the underlying instruments as well as additional risks such as counterparty default, liquidity constraints, valuation difficulties, and potential delays in closing positions.

Investments carry risks, including possible loss of principal. Additional risks may be associated with investments outside the United States, especially in emerging markets, including currency fluctuations, illiquidity, volatility, and political and economic risks. Investments in small- and mid-capitalization companies may increase the risk of greater price fluctuations.

Additional risks associated with investing in TAOZ and TFGZ may include: (1) Equity Risk, (2) Risks Affecting Specific Countries or Regions, (3) Market and Economic Risk, and (4) Small and Mid-Cap Company Risk.

Additional risks associated with investing in TFGZ may include: (1) Growth Company Risk.

More information regarding the risks associated with investing in Thornburg ETFs can be found in the prospectus for each ETF.

Please see our glossary for a definition of terms.

The Fund's ETF Class shares are distributed by ALPS Distributors, Inc.

¹ Includes $56 billion in assets under management and $1 billion in assets under advisement as of March 31, 2026.

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SOURCE Thornburg Investment Management