An anonymous director reports

HORIZONS ETFS ANNOUNCES A CHANGE TO THE UNDERLYING INDEX EXPOSURE OF HOU AND HOD

Horizons ETFs Management (Canada) Inc. has changed the exposure of the Horizons Crude Oil Rolling Futures Index, the proprietary underlying index of the BetaPro Crude Oil Leveraged Daily Bull ETF and the BetaPro Crude Oil Inverse Leveraged Daily Bear ETF.

As a result of some stabilization of crude oil futures prices and negotiations with the exchange-traded funds counterparties, the manager is announcing that the exposure of the underlying index will not roll to the December crude oil futures contract today, which is the contract expiry date for the current front-month August crude oil futures contract. The underlying index is now expected to remain exposed to the November crude oil futures contract until Aug. 20, 2020, which is the contract expiry date for the September crude oil futures contract.

This change is in keeping with the underlying index's goal disclosed in the prospectus of the ETFs, which is to endeavour to provide exposure to as close to the front month crude oil futures contract as is deemed reasonable by the manager, based on the current market conditions for crude oil futures contracts and subject to negotiations with the counterparties.

The roll methodology for the underlying index (which includes roll dates, the primary and secondary futures contracts, and the allocation between the primary and secondary futures contract) may be changed at any time by the manager in its sole discretion based on, among other things, negotiations with the ETFs' counterparties, liquidity for the underlying primary and secondary futures contracts as the primary futures contract's expiry approaches. The manager posts the current roll methodology for the Horizons Crude Oil Rolling Futures Index on its website.

We seek Safe Harbor.