Horizons ETFs Announces Changes to Risk Rating of Horizons Active Cdn Dividend ETF

TORONTO, May 5, 2023

ETF	Ticker	Previous Risk Rating	New Risk Rating
Horizons Active Cdn Dividend ETF	HAL ARIVA.DE Börsen-Geflüster Kurse Halliburton Inc. 35,965 € -0,65%	Low to Medium	Medium

This change is the result of an annual review conducted in accordance with a standardized investment risk classification methodology, set out in National Instrument 81-102 Investment Funds, that is based on the historical volatility of the ETF as measured by the 10-year standard deviation of the returns of the ETF. If an ETF has less than 10 years of performance history, the investment risk level of the ETF is calculated using the return history of the ETF and, for the remainder of the 10-year period, the return history of a reference index that is expected to reasonably approximate the standard deviation of the ETF.

No changes have been made to the investment objectives or strategies of this ETF as a result of the changes to the risk rating. A summary of the risk rating classification methodology, investment objectives, and strategies of the ETF can be found in the ETF's most recently filed prospectus.

Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has more than $25 billion of assets under management and 108 ETFs listed on major Canadian stock exchanges. 

Commissions, management fees and expenses all may be associated with an investment in exchange traded products (the "Horizons Exchange Traded Products") managed by Horizons ETFs Management (Canada) Inc. The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the Horizons Exchange Traded Products. Please read the relevant prospectus before investing.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase the Horizons Exchange Traded Products managed by Horizons ETFs Management (Canada) Inc. and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.

SOURCE Horizons ETFs Management (Canada) Inc.