HORIZONS ETFS ANNOUNCES FEBRUARY 2023 DISTRIBUTIONS FOR ITS COVERED CALL ETFs

TORONTO, Feb. 21, 2023 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") is pleased to announce the distribution amounts per security (the "Distributions") for its suite of covered call exchange traded funds (the "ETFs"), for the period ending February 28, 2023, as indicated in the table below.

The ex-dividend date for the Distributions is anticipated to be February 27, 2023, for all securityholders of record on February 28, 2023. The Distributions for securities of each ETF will be paid in cash or, if the securityholder has enrolled in the respective ETF's dividend reinvestment plan, reinvested in additional securities of the applicable ETF, on or about March 7, 2023. 

Horizons ETFs has made an additional announcement regarding the February distributions for certain ETFs in a separate press release.

ETF Name	Ticker Symbol	Current Month Distribution Rate	NAV Change from Prior Month^(1)	Current Month Yield^(2)	Prior Month Yield^(3)	Absolute Change in Yield  from Prior Month^(4)
Horizons Canadian Large Cap Equity Covered Call ETF	CNCC	$0.10000	0.10 %	9.40 %	9.34 %	0.06 %
Horizons Canadian Oil and Gas Equity Covered Call ETF	ENCC	$0.13000	-4.56 %	14.06 %	13.27 %	0.79 %
Horizons Gold Producer Equity Covered Call ETF	GLCC	$0.22000	-12.43 %	11.17 %	9.71 %	1.46 %
Horizons Equal Weight Canadian Bank Covered Call ETF	BKCC	$0.10000	3.24 %	7.38 %	7.57 %	-0.19 %
Horizons NASDAQ-100 Covered Call ETF	QQCC	$0.10750	3.70 %	13.04 %	13.37 %	-0.33 %
Horizons US Large Cap Equity Covered Call ETF^(5)	USCC.U	$0.12000	1.18 %	11.48 %	11.50 %	-0.02 %
	USCC	$0.12000	1.94 %	11.48 %	11.50 %	-0.02 %
Horizons Gold Yield ETF	HGY	$0.05000	-4.11 %	6.32 %	6.03 %	0.29 %

⁽¹⁾ Based on the period from January 23, 2023 to February 17, 2023, where the prior month's NAV (net asset value) per security
is adjusted to include the prior month's distribution.

⁽²⁾ Annualized and based on the applicable February 17, 2023 NAV per security, which is available at www.HorizonsETFs.com.

⁽³⁾ Annualized and based on the applicable January 23, 2023 NAV per security, which is available at www.HorizonsETFs.com.

⁽⁴⁾ The absolute change of the prior month's previously announced annualized distribution yield, to the current month's annualized
distribution yield.

⁽⁵⁾ Distributions for the Horizons US Large Cap Equity Covered Call ETF are declared and paid in U.S. dollars, including those listed
under the Canadian dollar-traded ticker USCC. The approximate Canadian dollar equivalent distribution rate for USCC is $0.16172
per security. For securityholders who hold the Canadian dollar-traded USCC, distribution payments will typically be converted to
Canadian dollars by the securityholder's account holder.

Each ETF pays distributions monthly. The amount of monthly cash distributions may fluctuate from month to month, and there can be no assurance that an ETF will make any distributions in any particular month or months.

For further information regarding the Distributions, please visit www.HorizonsETFs.com.

About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)

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 $24 billion of assets under management and 107 ETFs listed on major Canadian stock exchanges.

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.

SOURCE Horizons ETFs Management (Canada) Inc.

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