NET ASSET VALUE ERROR OF HORIZONS CANADIAN LARGE CAP EQUITY COVERED CALL ETF

TORONTO, July 26, 2023 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs"), the manager of the Horizons Canadian Large Cap Equity Covered Call ETF (TSX: CNCC) (the "ETF"), announced today that the reported net asset value per unit ("NAV") of the Fund was misstated for July 20^th and 21^st, 2023. The actual NAVs were subsequently recalculated, and were higher than the reported NAVs for those two days, with the maximum difference being $0.1771 on the reported NAV of $12.1634, for a maximum difference of 1.46%. The recalculated NAVs are as follows:

Date	Original NAV	Recalculated NAV
July 20, 2023	$12.1211	$12.2924
July 21, 2023	$12.1634	$12.3405

There was one dealer subscription during the period of misstatement, and Horizons ETFs will reimburse the ETF for the underpayment by the dealer to the ETF.

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

Horizons ETFs Management (Canada) Inc. is an innovative financial services company with 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 currently has more than $27 billion of assets under management and 113 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.

SOURCE Horizons ETFs Management (Canada) Inc.

Naseem Husain, Senior Vice President, ETF Strategist at [email protected] or [phone].