An investment in USO can be adversely impacted by various factors as disclosed in USO’s current prospectus, including disruptions in the markets for crude oil and regulatory and other limitations imposed on USO’s positions in the oil markets and other oil-related investments, such as the events that occurred during Spring of 2020. THE USO PROSPECTUS DESCRIBES THESE RISKS AND OTHER MATERIAL RISKS. INVESTORS SHOULD CAREFULLY READ THE USO PROSPECTUS AND CONSIDER ALL OF THE RISK FACTORS DESCRIBED THEREIN BEFORE MAKING AN INVESTMENT DECISION WITH RESPECT TO USO SHARES. USO’S CURRENT PROSPECTUS CAN BE FOUND HERE, AND USO’S CURRENT AND PERIODIC REPORTS FILED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION INCORPORATED THEREIN CAN BE FOUND HERE.