VanEck Merk Gold ETF · AMEX:OUNZ
VanEck Merk Gold ETF — IPO Roadshow (April 2026)
20 slides from VanEck Merk Gold ETF's IPO roadshow presentation, Apr 28, 2026
Slide 1: The Gold ETF that Delivers
Free Writing Prospectus VanEck Merk Gold ETF 2026-04-23 VanEck OUNZ Presentation FP_March 2026 0001546652 Pursuant to 433/164 333-274643 1 vaneck.com The Gold ETF that Delivers March 2026 OUNZ | VanEck Merk Gold ETF For Financial Professional Use Only - Not for Retail Distribution
Slide 2: Table of Contents
2 Institutional Sales Material. Not for Distribution to the Public. The Gold ETF that Delivers Table of Contents 3 Seamless Delivery Process 10 For Financial Professional Use Only - Not for Retail Distribution Gold as a Safe Haven 8 15 Gold, the Original Diversifier 4 Risks to Consider 13 Appendix
Slide 3: Access the Opportunities: The Gold ETF that Delivers
3 Access the Opportunities 3 The Gold ETF that Delivers For Financial Professional Use Only - Not for Retail Distribution Efficient Exposure: OUNZ provides cost-effective, direct exposure to gold through an ETF, eliminating storage and security concerns Seamless Delivery: Unlike other gold ETFs, OUN
Slide 4: Gold is the Original Portfolio Diversifier
4 Access the Opportunities For Financial Professional Use Only - Not for Retail Distribution Gold is the Original Portfolio Diversifier Gold has exhibited low long- term correlation to major asset classes Gold has provided portfolio diversification through various market cycles 4 20 Years of Asset C
Slide 5: Gold Also Offers Long-Term Appreciation Potential
5 Access the Opportunities For Financial Professional Use Only - Not for Retail Distribution Gold Also Offers Long-Term Appreciation Potential Gold is more than a diversification and hedging tool Gold has outperformed many other asset classes since the beginning of the century Since the dotcom bubbl
Slide 6: Gold underperformed commodities in the first half of the 1970's and 2000's
6 Access the Opportunities 6 Gold underperformed commodities in the first half of the 1970's and 2000's... -50% 0% 50% 100% 150% 200% 250% 300% 350% 400% 450% 500% 0% 2% 4% 6% 8% 10% 12% 14% Dec-69 Jun-70 Dec-70 Jun-71 Dec-71 Jun- 72 Dec-72 Jun-73 Dec-73 Jun-74 Dec-74 Jun-75 Dec-75 Jun-76 Dec-76 Cum
Slide 7: Both Times Finishing Out Much Stronger In The Second Half
7 Access the Opportunities 7 Second Half of 1970's Inflation Regime Second Half of Mid-2000's Inflation Regime ...Both Times Finishing Out Much Stronger In The Second Half For Financial Professional Use Only - Not for Retail Distribution -100% 0% 100% 200% 300% 400% 500% 600% 700% 800% 0% 2% 4% 6% 8
Slide 8: Gold is a Safe Haven in Periods of Systemic Risk
8 Access the Opportunities Gold is a Safe Haven in Periods of Systemic Risk For Financial Professional Use Only - Not for Retail Distribution 8 Global Stocks and Bonds vs. Gold Periods of Heightened Risk Source: VanEck, World Gold Council. Data as of December 2025. Dates utilized: Dot-com bubble = M
Slide 9: The Gold ETF that Delivers
9 Access the Opportunities For Financial Professional Use Only - Not for Retail Distribution The Gold ETF that Delivers Deliverability OUNZ holds gold bullion in the form of allocated London Bars. It differentiates itself by providing investors with the option to take physical delivery of gold bulli
Slide 10: Seamless Delivery Process
10 Access the Opportunities Seamless Delivery Process • Investor files a Delivery Application • Investor instructs their broker to submit their ETF shares to take delivery of their gold • Gold sent to Investor For Financial Professional Use Only - Not for Retail Distribution 10 OUNZ Shareholder owns
Slide 11: Wide Selection of Gold Available
11 Access the Opportunities Wide Selection of Gold Available For Financial Professional Use Only - Not for Retail Distribution 11 Gold bars and coins available with their associated fees are regularly updated at merkgold.com/fees Sample of Gold Availability Exchange Fee1 Purity (%) Fee per Applicati
Slide 12: OUNZ was Designed with Crises in Mind
12 Access the Opportunities OUNZ was Designed with Crises in Mind • OUNZ facilitated ten delivery requests for bars and coins throughout 2020 when bars and coins were in short supply • A large delivery of 100 ounces was made in March 2020 as many areas of the world were in varying states of lockdown
Slide 13: Risks for Consideration
13 Access the Opportunities Risks for Consideration For Financial Professional Use Only - Not for Retail Distribution 13 • OUNZ shares fluctuate with gold prices, which can lead to potential losses regardless of holding period • The Trust does not actively trade gold to hedge against short-term mark
Slide 14: The Gold ETF that Delivers
14 Access the Opportunities 14 The Gold ETF that Delivers For Financial Professional Use Only - Not for Retail Distribution Efficient Exposure: OUNZ provides cost-effective, direct exposure to gold through an ETF, eliminating storage and security concerns Seamless Delivery: Unlike other gold ETFs, O
Slide 15: Appendix
Variek® Appendix 15 Appendix
Slide 16: OUNZ Performance History
16 Access the Opportunities OUNZ Performance History For Financial Professional Use Only - Not for Retail Distribution 16 Annualized Trailing Returns* (%) (As of 3/31/2026) QTD YTD 1 Year 3 Years 5 years 10 Years Since Inception OUNZ (NAV) 8.52 8.52 49.55 32.92 22.29 13.88 11.04 OUNZ (Share Price) 8
Slide 17: Important Disclosures
17 Access the Opportunities Important Disclosures For Financial Professional Use Only - Not for Retail Distribution 17 This material is for informational purposes only. The information presented does not involve the rendering of personalized investment, financial, legal, or tax advice. Certain state
Slide 18: Definitions and Descriptions
18 Access the Opportunities Definitions and Descriptions For Financial Professional Use Only - Not for Retail Distribution 18 Index returns assume reinvestment of all income and do not reflect any management fees or brokerage expenses associated with fund returns. Returns for actual fund investors m
Slide 19: and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates
express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors,
Slide 20: vaneck.com/subscribe
19 Access the Opportunities vaneck.com/subscribe