Teucrium Commodity Trust

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Sponsor and Shareholders

Teucrium Commodity Trust and each Fund listed in the table below

Opinions on the financial statements

We have audited the accompanying combined statements of assets and liabilities, including the combined schedule of investments, of Teucrium Commodity Trust (the “Trust”) as of December 31, 2025 and 2024; the statements of assets and liabilities, including the schedules of investments, of each Fund listed in the table below as of the respective date(s) listed below; the Trust’s related combined statements of operations, changes in net assets, and cash flows for each of the three years in the period ended December 31, 2025; the related statements of operations, changes in net assets, and cash flows of each Fund listed below for the respective period(s) ended listed below; and the related notes (collectively referred to as the “financial statements”).

Teucrium Commodity Trust is a series trust consisting of the following series (individually referred to as “Fund” or collectively referred to as “Funds”):

In our opinion, the financial statements present fairly, in all material respects, the combined financial position of the Trust as of December 31, 2025 and 2024; the financial position of each Fund listed in the table above as of the respective date(s) listed above; the combined results of operations and cash flows of the Trust for each of the three years in the period ended December 31, 2025; and the results of operations and cash flows for each Fund listed above for the respective period(s) ended listed above, in conformity with accounting principles generally accepted in the United States of America.

Basis for opinions

These financial statements are the responsibility of the Trust’s and Funds’ management. Our responsibility is to express an opinion on the Trust’s combined financial statements and each Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust and each Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust and each Fund are not required to have, nor were we engaged to perform, an audit of internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing opinions on the effectiveness of the Trust’s and each Fund’s internal control over financial reporting. Accordingly, we express no such opinions.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinions.

Critical audit matters

Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there are no critical audit matters in the audits of the Trust’s combined financial statements and each Fund’s financial statements.

/s/GRANT THORNTON LLP

We have served as auditor of one or more of the series of Teucrium Commodity Trust since 2014.

New York, New York

March 2, 2026