UTIL Global X Canadian Utility Services High Dividend Index ETF

TORONTO, Nov. 29, 2023 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") announced today the estimated non-cash distributions (the "Non-Cash Distributions") to unitholders of certain exchange traded funds (the "ETFs") it manages for the 2023 tax year as indicated in the table below. Those ETFs managed by Horizons ETFs not listed in the table are not expected to have Non-Cash Distributions for the 2023 tax year.

Please note that these are estimated amounts only as of November 28, 2023. Circumstances may arise which could cause these estimates to change before the ETFs' applicable tax year ends on December 15, 2023.

Each ETF is required to distribute any net income and capital gains it has earned during the year. The Non-Cash Distributions will be automatically reinvested in additional units of the respective ETFs and immediately consolidated so that the number of units held by the unitholder (the outstanding units of the ETFs) and the net asset value of the ETFs will not change as a result of the Non-Cash Distributions. The annual Non-Cash Distributions will be reported to unitholders as taxable distributions and will increase each unitholder's adjusted cost base for the respective ETF. The Non-Cash Distributions may be income and/or capital gains in nature. These estimated amounts are for the Non-Cash distributions only and do not include any estimates of the regular monthly or quarterly cash distributions, as applicable, including income and capital gains amounts that may form a part of the monthly and/or quarterly distributions.

Horizons ETFs expects to announce the final year-end Non-Cash Distribution amounts, as well as any regular monthly or quarterly cash distribution amounts, on or about December 20, 2023. The ex-dividend dates for all of these distributions (cash and non-cash) are anticipated to be December 28, 2023 and December 29, 2023^, for all unitholders of record on December 29, 2023. In early 2024, the tax characteristics of all distributions for 2023 for the ETFs will be reported to brokers via the Clearing and Depository Services Inc. (CDS) and will be posted on our website shortly thereafter.

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 $28 billion of assets under management and 119 ETFs listed on major Canadian stock exchanges. Horizons ETFs is a wholly owned subsidiary of the Mirae Asset Financial Group, which manages approximately $710 billion of assets across 13 countries around the world.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase exchange traded products managed by Horizons ETFs Management (Canada) Inc. (the "Horizons Exchange Traded Products") 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.

Commissions, management fees, and expenses all may be associated with an investment in the Horizons Exchange Traded Products. 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. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer.

Certain statements may constitute a forward-looking statement, including those identified by the expression "expect" and similar expressions (including grammatical variations thereof). The forward-looking statements are not historical facts but reflect the author's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. These and other factors should be considered carefully and readers should not place undue reliance on such forward looking statements. These forward-looking statements are made as of the date hereof and the authors do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.

SOURCE Horizons ETFs Management (Canada) Inc.