Investment Managers Series Trust II Milwaukee, Wisconsin 53212 Investment Managers Series Trust Milwaukee, Wisconsin 53212 Ladies and Gentlemen:Agreement and Plan of Reorganization • June 25th, 2019 • Investment Managers Series Trust
This opinion is furnished to you pursuant to paragraph 8.5 of the Agreement and Plan of Reorganization (the “Agreement”), dated as of [ ], 2019, by and among Investment Managers Series Trust II (the “IMST II Trust”), a Delaware statutory trust, on behalf of its series All Terrain Opportunity Fund (the “Acquired Fund”), and Investment Managers Series Trust (the “IMST Trust”), a Delaware statutory trust, on behalf of its series All Terrain Opportunity Fund (the “Acquiring Fund”). All capitalized terms not otherwise defined herein have the meanings ascribed to them in the Agreement.
