Fund Description: HCM Defender 100 Index ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Northern Lights Fund Trust III, an open-end investment management company. INVESTMENT OBJECTIVE: The HCM Defender 100 Index ETF seeks to provide investment results that correspond, before fees and expenses, generally to the performance of the HCM Defender 100 Index. INDEX DESCRIPTION: The HCM Defender 100 seeks to outperform the Nasdaq 100 Index using a proprietary methodology. The Nasdaq 100 Index is comprised of the largest domestic and international non-financial se curities listed on the Nasdaq. The Index is comprised of securities in the Solactive US Technology 100 Index which are the largest and most liquid companies classified in the Technology sector, securities in the Solactive 1-3 month US T-Bill Index which are U.S. dollar denominated T-Bills with a time to maturity of 1 to 3 months, or a combination of both. The Index uses the HCM BuyLine, its proprietary quantitative investment model, to determine when the Fund should be in or out of the market. The BuyLine uses trend analysis to help identify the broad trend in the equity market. When the trend is down, the Index reduces exposure to equities, and when the trend is up, the Index increases exposure to equities. FUND STRATEGY: The Fund seeks to achieve its investment objective by investing at least 80% of its net assets, including borrowings for investment purposes but exclusive of collateral held from securities lending, in securities included in the Index. The Fund may also invest up to 20% of its net assets (including borrowings for investment purposes but exclusive of collateral held from securities lending) in index futures, options, options on index futures, swap contracts or other derivatives, cash equivalents, other investment companies, as well as in securities and other instruments not included in the Index. FUND MANAGEMENT: Howard Capital Management, Inc. serves as the Investment Adviser.