SCHEDULE A

to the

INVESTMENT ADVISORY AGREEMENT

Dated January 27, 2020 between

LISTED FUNDS TRUST

and

TRUEMARK INVESTMENTS, LLC

The Trust will pay to the Adviser as compensation for the Adviser’s services rendered, a fee, computed daily at an annual rate based on the average daily net assets of the respective Fund in accordance with the following fee schedule:

Fund	Rate
TrueShares AI & Deep Learning ETF	0.68%
TrueShares ESG Active Opportunities ETF	0.58%
TrueShares Structured Outcome ETFs (12 ETFs)	0.79%
TrueShares Nasdaq 100 Structured Outcome ETFs (4 ETFs)	0.79%
TrueShares Russell 2000 Structured Outcome ETFs (4 ETFs)	0.79%
TrueShares Low Volatility Equity Income ETF	0.65%

IN WITNESS WHEREOF, the parties hereto have caused this Schedule A to be signed on their behalf by their duly authorized officers as of December 10, 2020.

LISTED FUNDS TRUST, on behalf of each Fund listed on this Schedule A
By:	/s/ Kent Barnes
	Name: Kent Barnes
	Title: Secretary
TRUEMARK INVESTMENTS, LLC
By:	/s/ Michael N. Loukas
	Name: Michael N. Loukas
	Title: Chief Executive Officer