GDPY Guardian Directed Premium Yield Portfolio

Guardian Capital LP today announced that the Toronto Stock Exchange (“TSX”) is requiring it to amend the ex-dividend date for the November 2023 cash distributions for the Guardian Capital ETFs (as defined below) due to an administrative error in making a filing under the TSX rules. All other dates and information, including the applicable record date, relating to the November 2023 cash distributions for the Guardian Capital ETFs, previously communicated in Guardian Capital LP’s November 16, 2023 press release, remain unchanged. The amended ex-dividend date required by the TSX is November 27, 2023. Trading and capital activity with respect to the Guardian Capital ETFs on the previously announced ex-dividend dates was not impacted by this administrative error, and all purchases and sales reflected prices that were net of any dividend amounts. Furthermore, there is no impact to the trading prices of the Guardian Capital ETFs on November 27th or going forward. The amended ex-dividend date is applicable to the ETF series of Guardian Directed Equity Path Portfolio (TSX: GDEP, GDEP.B), Guardian Directed Premium Yield Portfolio (TSX: GDPY, GDPY.B), GuardPath™ Managed Decumulation 2042 Fund (TSX: GPMD), Guardian Ultra-Short Canadian T-Bill Fund (TSX: GCTB) and Guardian Ultra-Short U.S. T-Bill Fund (TSX: GUTB.U) (collectively, the “Guardian Capital ETFs”).

About Guardian Capital LPGuardian Capital LP is the manager and portfolio manager of the Guardian Capital Funds and Guardian Capital ETFs, with capabilities that span a range of asset classes, geographic regions and specialty mandates. Additionally, Guardian Capital LP manages portfolios for institutional clients such as defined benefit and defined contribution pension plans, insurance companies, foundations, endowments and investment funds. Guardian Capital LP is a wholly owned subsidiary of Guardian Capital Group Limited and the successor to its original investment management business, which was founded in 1962. For further information on Guardian Capital LP, please call 416-350-8899 or visit www.guardiancapital.com.

About Guardian Capital Group LimitedGuardian Capital Group Limited (Guardian) is a global investment management company servicing institutional, retail and private clients through its subsidiaries. As at September 30, 2023, Guardian had C$56.2 billion of total client assets while managing a proprietary investment portfolio with a fair market value of C$1.28 billion. Founded in 1962, Guardian’s reputation for steady growth, long-term relationships and its core values of authenticity, integrity, stability and trustworthiness have been key to its success over six decades. Its Common and Class A shares are listed on the Toronto Stock Exchange as GCG and GCG.A, respectively. To learn more about Guardian, visit www.guardiancapital.com.

For further information, please contact: Angela ShimAShim@guardiancapital.com

Unlike traditional exchange traded funds (“ETFs”), the GuardPath™ Managed Decumulation 2042 Fund (the “GuardPath ETF”) is a unique investment fund structure and investors should carefully consider whether their financial condition and investment objectives are aligned with this retirement-focused investment.  The GuardPath ETF may be suitable for an investor primarily concerned about having sufficient income in retirement, especially in the later years of their life. It may not be suitable for an investor whose primary objective is to leave capital behind for their estate. The GuardPath ETF is not an insurance company, nor an insurance or annuity contract and unitholders will not have the protections of insurance laws. Distributions provided by the GuardPath ETF are not guaranteed or backed by an insurance company or any third party.  The long-term total return and the sustainability of the rate of distributions of the GuardPath ETF may be impacted by volatility and sequence of returns risk. This is not a complete list of the risks associated with an investment in the GuardPath ETF. Please refer to the prospectus of the GuardPath ETF for details.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase Guardian Capital ETFs and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Commissions, management fees and expenses all may be associated with investments in the Guardian Capital ETFs. Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on the TSX. If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. ETF and mutual fund securities, including units of the Guardian Capital ETFs, are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the Guardian Ultra-Short Canadian T-Bill Fund or the Guardian Ultra-Short U.S. T-Bill Fund will be able to maintain the net asset value per unit of the mutual fund units at a constant amount or that the full amount of your investment in the Guardian Capital ETFs will be returned to you.

All trademarks, registered and unregistered, are owned by Guardian Capital Group Limited and are used under licence.