Faegre Drinker Biddle & Reath LLP 

One Logan Square 

Suite 2000 

Philadelphia, PA 19103-6996 

Telephone: (215) 988-2700

July 26, 2021

The RBB Fund, Inc. 

615 East Michigan Street 

Milwaukee, WI 53202

Re: Shares Registered by Post-Effective Amendment No. 281 to

Registration Statement on Form N-1A (File No. 33-20827)

Ladies and Gentlemen:

We have acted as counsel to The RBB Fund, Inc. (the “Company”) in connection with the preparation and filing with the Securities and Exchange Commission of Post-Effective Amendment No. 281 (the “Amendment”) to the Company’s Registration Statement on Form N-1A under the Securities Act of 1933, as amended. The Board of Directors of the Company has authorized the issuance and sale by the Company of the following classes and numbers of shares of common stock, $0.001 par value per share (collectively, the “Shares”), with respect to the following portfolios of the Company: YieldX High Income ETF and YieldX Short-Term Income ETF:

PORTFOLIO	CLASS	AUTHORIZED SHARES
YieldX High Income ETF	IIIIIII	100 million
YieldX Short-Term Income ETF	JJJJJJJ	100 million

The Amendment seeks to register an indefinite number of the Shares with respect to each Portfolio.

We have reviewed the Company’s Articles of Incorporation, ByLaws, resolutions of its Board of Directors, and such other legal and factual matters as we have deemed appropriate. This opinion is based exclusively on the Maryland General Corporation Law and the federal law of the United States of America.

Based upon and subject to the foregoing, it is our opinion that the Shares, when issued for payment as described in the Company’s Prospectus offering the Shares and in accordance with the Company’s Articles of Incorporation for not less than $0.001 per share, will be legally issued, fully paid and non-assessable by the Company.

We consent to the filing of this opinion as an exhibit to the Amendment to the Company’s Registration Statement.

Very truly yours,

/s/ Faegre Drinker Biddle & Reath LLP

Faegre Drinker Biddle & Reath LLP