S&P
"Standard & Poor’s® ", "S&P®" and "S&P 500" are registered trademarks of The McGraw-Hill Companies, Inc. and "TSX®" is a registered trademark of the TSX Inc. These marks have been licensed for use by Horizons ETFs Management Canada Inc.. The Horizons ETFs are not sponsored, endorsed, sold, or promoted by Standard & Poor’s or TSX Group and its affiliated companies and neither party make any representation, warranty or condition regarding the advisability of investing in the Horizons ETFs.

Fund Disclaimer (Funds)
All BetaPro Funds use leveraged investment techniques that magnify gains and losses and result in greater volatility in value. All BetaPro Funds are subject to active investor risk. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing.

Fund Disclaimer (ETFs)
All BetaPro ETFs use leveraged investment techniques that magnify gains and losses and result in greater volatility in value. All BetaPro ETFs are subject to active investor risk. Commissions, management fees and expenses all may be associated with ETF investments. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing.

Fund Disclaimer (Funds and ETFs)
All BetaPro Funds and ETFs use leveraged investment techniques that magnify gains and losses and result in greater volatility in value. All BetaPro Funds and ETFs are subject to active investor risk. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund and ETF investments. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing.

S&P/TSX
"Standard & Poor's®" and "S&P®" are registered trademarks of The McGraw-Hill Companies, Inc. and "TSX®" is a registered trademark of the TSX Inc. These marks have been licensed for use by BetaPro Management Inc. The HBP ETFs are not sponsored, endorsed, sold, or promoted by Standard & Poor's or TSX Group and its affiliated companies and neither party make any representation, warranty or condition regarding the advisability of investing in the HBP ETFs

NASDAQ
Nasdaq®,Nasdaq-100®,and Nasdaq-100 Index®, are trademarks of The NASDAQ OMX Group, Inc.(which with its affiliates is referred to as the "Corporations") and are licensed for use by BetaPro Funds and BetaPro Management Inc.. The Fund(s)have not been passed on by the Corporations as to their legality or suitability. The Fund(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND(S).

Morningstar®
The Horizons Morningstar Hedge Fund ETF (the “ETF”) is not sponsored, endorsed, sold or promoted by Morningstar or any of its affiliates (collectively, the “Morningstar Group”). The Morningstar Group makes no representation or warranty, express or implied, to the ETF unitholders or any member of the public regarding the advisability of investing in securities generally or in the ETF in particular or the ability of the ETF to track general stock market performance. The Morningstar Group’s only relationship to Horizons ETFs Management (Canada) Inc. is the licensing of certain service marks and service names of the Morningstar Group, Morningstar® Broad Hedge Fund Index™ and the Morningstar® NEXUS Hedge Fund Replication Index™ which are determined, composed and calculated by Morningstar without regard to Horizons ETFs Management (Canada) Inc. or the ETF. The Morningstar Group has no obligation to take the needs of Horizons ETFs Management (Canada) Inc. or the ETF unitholders into consideration in determining, composing or calculating any index. The Morningstar Group is not responsible for and has not participated in the determination of the prices and amount of the ETF or the timing of the issuance or sale of ETF units or in the determination or calculation of the equation by which ETF units are converted into cash. The Morningstar Group has no obligation or liability in connection with the administration, marketing or trading of the ETF. The Morningstar Group does not guarantee the accuracy and/or the completeness of any index or any data included therein and the Morningstar Group shall have no liability for any errors, omissions, or interruptions therein. The Morningstar Group makes no warranty, express or implied, as to results to be obtained by Horizons ETFs Management (Canada) Inc., or the ETF unitholders, or any other person or entity from the use of any index or any data included therein. The Morningstar Group makes no express or implied warranties, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to any index or any data included therein. Without limiting any of the foregoing, in no event shall the Morningstar Group have any liability for any special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

Hang Seng High Dividend Yield Index
The mark and name “Hang Seng High Dividend Yield Index” (the “Index”) is proprietary to Hang Seng Data Services Limited (“HSDS”) which has licensed its compilation and publication to Hang Seng Indexes Company Limited (“HSIL”). HSIL and HSDS have agreed to the use of, and reference to, the Index by Horizons ETFs Management (Canada) Inc. (“the Issuer”) in connection with the Horizons China High Dividend Yield Index ETF (the “Product”). However, neither HSIL nor HSDS warrants, represents or guarantees to any person the accuracy or completeness of the Index, its computation or any information related thereto and no warranty, representation or guarantee of any kind whatsoever relating to the Index is given or may be implied. Neither HSIL nor HSDS accepts any responsibility or liability for any economic or other loss which may be directly or indirectly sustained by any person as a result of or in connection with the use of and/or reference to the Index by the Issuer in connection with the Product, or any inaccuracies, omissions or errors of HSIL in computing the Index. Any person dealing with the Product shall place no reliance whatsoever on HSIL and/or HSDS nor bring any claims or legal proceedings against HSIL and/or HSDS in any manner whatsoever. For the avoidance of doubt, this disclaimer does not create any contractual or quasi-contractual relationship between any broker or other person dealing with the Product and HSIL and/or HSDS and must not be construed to have created such relationship.

EURO STOXX 50® Futures Roll Index
The EURO STOXX 50® Futures Roll Index (Total Return) is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland (“STOXX”), Deutsche Börse Group or their licensors, which is used under license. Horizons EURO STOXX 50® Index ETF is neither sponsored nor promoted, distributed or in any other manner supported by STOXX, Deutsche Börse Group or their licensors, research partners or data providers and STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not give any warranty, and exclude any liability (whether in negligence or otherwise) with respect thereto generally or specifically in relation to any errors, omissions or interruptions in the relevant index or its data.

Solactive
The financial instrument is not sponsored, promoted, sold or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trade name or the Index Price at any time or in any other respect. The Index is calculated and published by Solactive AG. Solactive AG uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards the Issuer, Solactive AG has no obligation to point out errors in the Index to third parties including but not limited to investors and/or financial intermediaries of the financial instrument. Neither publication of the Index by Solactive AG nor the licensing of the Index or Index trade name for the purpose of use in connection with the financial instrument constitutes a recommendation by Solactive AG to invest capital in said financial instrument nor does it in any way represent an assurance or opinion of Solactive AG with regard to any investment in this financial instrument.

Official Partner of the Toronto Raptors

“Toronto Raptors” and associated word marks and logos are trademarks, designs and other forms of intellectual property of NBA Properties, Inc. and the Toronto Raptors and are used under licence (or with permission) by Maple Leaf Sports & Entertainment Partnership © 2017 NBA Properties, Inc. All rights reserved.

Horizons ETFs is a Member of Mirae Asset Global Investments. Commissions, trailing commissions, management fees and expenses all may be associated with an investment in exchange traded products managed by Horizons ETFs Management (Canada) Inc. (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.

The Horizons Exchange Traded Products consist of the Horizons Index ETFs ("Index ETFs"), 2x Daily Bull and -2x Daily Bear ETFs ("2x Daily ETFs"), Inverse ETFs ("Inverse ETFs"), VIX ETFs (defined below) and active ETFs. The 2x Daily ETFs and certain other Horizons Exchange Traded Products use leveraged investment techniques that can magnify gains and losses and may result in greater volatility of returns. These Horizons Exchange Traded Products are subject to leverage risk and may be subject to aggressive investment risk and price volatility risk, which, where applicable, are described in their respective prospectuses. Each 2x Daily ETF seeks a return, before fees and expenses, that is either 200% or -200% of the performance of a specified underlying index, commodity or benchmark (the "Target") for a single day. Each Index ETF or Inverse ETF seeks a return that is 100% or -100%, respectively, of the performance of a Target. Due to the compounding of daily returns, a 2x Daily ETF's or Inverse ETF's returns over periods other than one day will likely differ in amount and possibly direction from the performance of their respective Target(s) for the same period. The Horizons Exchange Traded Products whose Target is the S&P 500 VIX Short-Term Futures Index™ (the "VIX ETFs"), one of which is a 2x Daily ETF and one of which is an Index ETF, as described in their prospectus, are speculative investment tools that are not conventional investments. The VIX ETFs' Target is highly volatile. As a result, the VIX ETFs are not generally viewed as stand-alone long-term investments. Historically, the VIX ETFs' Target has tended to revert to a historical mean. As a result, the performance of the VIX ETFs' Target is expected to be negative over the longer term and neither the VIX ETFs nor their Target are expected to have positive long term performance. Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.

*The indicated rates of return are the historical annual compounded total returns including changes in per unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. The rates of return shown in the table are not intended to reflect future values of the ETF or returns on investment in the ETF. Only the returns for periods of one year or greater are annualized returns.