AMENDMENT TO THE LISTED FUNDS TRUST CUSTODY AGREEMENT

Certain identified information has been excluded from the exhibit because it is both not material and the type that the Registrant treats as private or confidential.

AMENDMENT TO THE

LISTED FUNDS TRUST CUSTODY AGREEMENT

THIS AMENDMENT to the Custody Agreement, dated as of April 25, 2019 (the “Agreement”), is entered into as of the last date on the signature block, by and between LISTED FUNDS TRUST, a Delaware statutory trust (the “Trust”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association (the “Custodian”).

RECITALS

WHEREAS, the parties have entered into the Agreement; and

WHEREAS, the parties desire to amend the Agreement to add the Opportunistic Trader ETF to its series and to add the respective fee schedule as Exhibit 26; and

WHEREAS, Article XV, Section 15.02 of the Agreement allows for its amendment by a written instrument executed by both parties.

NOW, THEREFORE, the parties agree to amend the Agreement as follows:

Exhibit 26 is hereby added to the Agreement and attached hereto.

This amendment will become effective upon the commencement of operations of the Fund. Except to the extent amended hereby, the Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year written below.

LISTED FUNDS TRUST						U.S. BANK N.A.
By: /s/ Xxxxxxx X. Xxxxxx						By: /s/ Xxxxxxx Xxxxxx
Name: Xxxxxxx X. Xxxxxx						Name: Xxxxxxx Xxxxxx
Title: President						Title: Sr. Vice President
Date: 2/7/2024						Date: February 7, 2024

EXHIBIT 26

to the Listed Funds Trust Custody Agreement

List of Funds and Fee Schedule

Name of Series

Opportunistic Trader ETF

Base Fee for Custody Services

The following reflects the greater of the basis point fee or annual minimum1 where OT Advisors LLC (the “Adviser”) acts as investment adviser to the fund(s) in the same registered investment company.

Annual Minimum per Fund2 Basis Points on Trust AUM2

See Appendix C for Services and Associated Fees in addition to Base Fee

See Appendix D for Global Sub-Custodial Services & Safekeeping Services in addition to the Base Fee

1 Each fund, regardless of asset size, will have fees allocated to it equal to the per fund minimum. Should the complex level basis point fee calculation exceed the complex level minimum fee level calculation, the fees in excess of the minimum will be allocated to each fund based on the percent on AUM.

2 Subject to annual CPI increase: All Urban Consumers – U.S. City Average” index, provided that the CPI adjustment will not decrease the base fees (even if the cumulative CPI rate at any point in time is negative).

Once a Fund is operational, should this service agreement with U.S. Bank be terminated prior to the end of the initial two-year period, Adviser will be responsible for the balance of the minimum fees for the remainder of the initial two-year period. Following the initial two-year period, this fee schedule will automatically renew (unless otherwise amended or terminated) for successive two-year periods, and should this service agreement with U.S. Bank be terminated prior to the end of such a two-year period, Adviser will be responsible for the balance of the minimum fees for the remainder of such two-year period.

Additional services not included herein shall be mutually agreed upon at the time of the service being added. In addition to the fees described above, additional fees may be charged to the extent that changes to applicable laws, rules or regulations require additional work or expenses related to services provided (e.g., compliance with new derivatives risk management and reporting requirements).

All annual fees described in this fee schedule (including appendices) are calculated pro rata and billed monthly.

APPENDIX C

Custody Services in addition to the Base Fee

Portfolio Transaction Fees1

– Book entry DTC transaction, Federal Reserve transaction, principal paydown

– Repurchase agreement, reverse repurchase agreement, time deposit/CD or other non-depository transaction

– Option/SWAPS/future contract written, exercised or expired

– Mutual fund trade, Margin Variation Wire and outbound Fed wire

– Physical security transaction

– Check disbursement (waived if U.S. Bank is Administrator)

Manual instructions fee. (Additional Per Securities and Cash Transactions)

Cancellation/Repair fee. (Additional Per Securities and Cash Transactions)

Per Non-USD wire.

Per Non-FX Executed at U.S. Bank

Monthly charge on zero valued securities (Per ISIN)

Per Proxy Vote cast.

Dormant account fee (one year no activity)

A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender or exchange.

Miscellaneous Expenses

All other miscellaneous fees and expenses, including but not limited to the following, will be separately billed as incurred: expenses incurred in the safekeeping, delivery and receipt of securities, shipping, transfer fees, deposit withdrawals at custodian (DWAC) fees, SWIFT charges, negative interest charges and extraordinary expenses based upon complexity.

Additional Services

Additional fees apply for global servicing. Fund of Fund expenses quoted separately.

- per custody sub – account per year (e.g., per sub –adviser, segregated account, etc.)

Class Action Services – $25 filing fee per class action per account, plus 3% of gross proceeds, up to a maximum per recovery not to exceed -.

No charge for the initial conversion free receipt.

Overdrafts – charged to the account at prime interest rate plus 2%, unless a line of credit is in place

Third Party lending - Additional fees will apply

1 “Sponsor trades” are defined as any trades put through the Portfolio, on behalf of the Fund by any portfolio manager/sub advisor and their affiliates authorized by the BOT to act on behalf of the Fund, outside of the create/redeem process. Cash-in-Lieu proceeds received as part of the create/redeem process, and their related transactions are not considered to be “Sponsor trades”.

APPENDIX D

Additional Global Sub-Custodial Services Annual Fee Schedule

Base Fee

A monthly base fee of $- per fund will apply. If no global assets are held within a given month, the monthly base charge will not apply for that month. In addition, the follow may apply. Safekeeping and transaction fees are assessed on security and currency transactions.

Plus:

Global Custody Transaction Fees1

Global Custody transaction fees associate with Sponsor Trades2. (See schedule below)

A transaction is defined as any purchase/sale, free receipt / free delivery, maturity, tender or exchange of a security.

Global Safekeeping and Transaction Fees

(See schedule below)

Global Custody Tax Reclamation Services:

Global Filing: - per annum

U.S. Domestic Filing: $- per annum (Only ADRs)

Any client who does not elect for tax services (and does them themselves, would be charged an out of pocket expense per the normal process).

Miscellaneous Expenses

Charges incurred by U.S. Bank, N.A. directly or through sub-custodians for account opening fees, local taxes, stamp duties or other local duties and assessments, stock exchange fees, foreign exchange transactions, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees, proxy services and other shareholder communications, recurring administration fees, negative interest charges, overdraft charges or other expenses which are unique to a country in which the client or its clients is investing will be passed along as incurred.

A surcharge may be added to certain miscellaneous expenses listed herein to cover handling, servicing and other administrative costs associated with the activities giving rise to such expenses. Also, certain expenses are charged at a predetermined flat rate.

SWIFT reporting and message fees.

1“Sponsor trades” are defined as any trades put through the Portfolio, on behalf of the Fund by any portfolio manager/sub advisor and their affiliates authorized by the BOT to act on behalf of the Fund, outside of the create/redeem process. Cash-in-Lieu proceeds received as part of the create/redeem process, and their related transactions are not considered to be “Sponsor trades.”

Additional Global Sub-Custodial Services Annual Fee Schedule

Country

Safekeeping (BPS)

Transaction fee

Country

Safekeeping (BPS)

Transaction fee

Country

Safekeeping (BPS)

Transaction fee

Argentina

Hong Kong

Poland

Australia

Hungary

Portugal

Austria

Iceland

Qatar

Bahrain

India

Romania

Bangladesh

Indonesia

Russia

Belgium

Ireland

Saudi Arabia

Bermuda

Israel

Serbia

Botswana

Italy

Singapore

Brazil

Japan

Slovakia

Bulgaria

Jordan

Slovenia

Canada

Kenya

South Africa

Chile

Kuwait

South Korea

China Connect

Latvia

Spain

China (B Shares)

Lithuania

Sri Lanka

Colombia

Luxembourg

Sweden

Costa Rica

Malaysia

Switzerland

Croatia

Malta

Taiwan

Cyprus

Mauritius

Tanzania

Czech Republic

Mexico

Thailand

Denmark

Morocco

Tunisia

Egypt

Namibia

Turkey

Estonia

Netherlands

UAE

Eswatini

New Zealand

Uganda

Euroclear (Eurobonds)

Nigeria

Ukraine

Euroclear (Non-Eurobonds)

Rates are available upon request

Rates are available upon request

Norway

United Kingdom

Finland

Oman

Uruguay

France

Pakistan

Vietnam

Germany

Panama

West African Economic Monetary Union (WAEMU)*

Ghana

Peru

Zambia

Greece

Philippines

Zimbabwe

*Transaction Fee includes: Receive Versus Payment (RVP), Delivery Versus Payment (DVP), FREE REC, and FREE DEL activity related to securities settlement within U.S. Bank sub-custodian network.

Signatures on Next Page

The Adviser’s signature below is an acknowledgment of the attached fee schedule.

OT Advisors LLC

By:			/s/ Xxxxx Xxxxxx
Title:			CCO
Date:			2/6/2024 3:14:30 PM CST