HORIZONS

CDN SELECT UNIVERSE

BOND ETF
HBB $50.12 Ticker:
HBB
Benchmark:
Solactive Canadian Select Universe Bond
CHANGE $0.00 +0.00% Index (Total Return)
Inception Date:
VOLUME1 25431
May 07, 2014 Bloomberg Index Ticker:
LAST CLOSE $50.12
SOLHBB
Net Assets2:
Prices delayed by 15 minutes.
1,542,170,157 (as at 2021-12-01) Management Fee:
Last trade: Dec 02, 2021 05:00 PM
0.09% (plus applicable sales tax)
Consolidated Prior Day Volume3:
23,490 (for 2021-12-01) Management Expense Ratio 4:
0.10% (AS AT 2021-06-30)
Average Daily Trading Volume Over A 12
Month Period5: Swap Fee:
123,458 (as at 2021-11-30) No more than 0.15%

Exchange: Currency:
Toronto Stock Exchange CAD

Investment Manager: Counterparty Exposure6:

Horizons ETFs Management (Canada) Inc. 1.19% (as at 2021-11-30)

Eligibility: LEI 7:
All Registered and Non-Registered Accounts 549300CHFSB2YD5VGF57

Horizons - CDN Select Universe Bond ETF (Timestamp: December 03, 2021) 1 of 4
Investment Objective
Horizons HBB seeks to replicate, to the extent possible, the performance of the Solactive Canadian Select Universe Bond PRICE AND NAV
as at December 1, 2021
Index (Total Return), net of expenses. The Solactive Canadian Select Universe Bond Index (Total Return) is designed to
measure the performance of the Canadian investment-grade fixed income market. Nav/Unit: $50.0288
Price: $50.01
Daily NAV (Since Inception) HBB Volume
Premium Discount: $-0.02

$50.00 Premium Discount Percentage: -0.04%

Outstanding Shares: 30,825,660
$40.00

$30.00 INDEX INVESTMENT METRICS

as at November 30, 2021

Weighted Average Duration 8: 8.31

Average Credit Quality: AA
2015 2016 2017 2018 2019 2020 2021
Weighted Average Coupon9: 2.77
The NAV chart above only shows the historical daily net asset value per unit (NAV) of the ETF, and identifies the various distributions made by the ETF,
if any. The distributions are not treated as reinvested, and it does not take into account sales, redemption, distribution or optional charges or income
Weighted Average Yield to Maturity10: 1.91
taxes payable by any securityholder. The NAV values do contemplate management fees and other fund expenses. The chart is not a performance
chart and is not indicative of future NAV values which will vary. Current Yield: 2.46

Growth Of 10K (Since Inception)

$14k SECTOR ALLOCATION
as at October 31, 2021

$13k

$12k

$11k

$10k
Governments (44.13%)
$9k Provincials (35.32%)
2015 2016 2017 2018 2019 2020 2021 Financial (6.71%)
Utilities (4.88%)
The Growth of 10K chart above is based on the historical daily net asset value per unit (NAV) of the ETF, and represents the value of an initial Energy (2.73%)
investment into the ETF of $10,000 since its inception, on a total return basis. Distributions, if any, are treated as reinvested, and it does not take into Communication service (1.99%)
account sales, redemption, distribution or optional charges or income taxes payable by any security holder. The NAV values do contemplate
management fees and other fund expenses where paid by the fund. The chart is not a performance chart and is not indicative of future value which will Industrial (1.45%)
vary. REI Ts (1.02%)
Municipals (1.01%)
Annualized Performance* Consumer Staple (0.59%)
Health Care (0.08%)
1 Mo 3 Mo 6 Mo YTD 1 Yr 3 Yr 5 Yr 10 Yr SIR**
Information Technology (0.08%)
Horizons CDN Select Universe Bond ETF 0.86 -1.67 0.09 -4.06 -3.78 3.70 2.43 -- 2.92
**Performance since inception on May 07, 2014, as at November 30, 2021

Calendar Year Performance*

2013 2014 2015 2016 2017 2018 2019 2020

ETF (HBB) -- -- 3.19 1.39 1.89 1.14 5.98 8.23

Solactive Canadian Select Universe Bond Index Total Return -- -- 3.53 1.73 2.19 1.41 6.25 8.50

Horizons - CDN Select Universe Bond ETF (Timestamp: December 03, 2021) 2 of 4
Top Index Holdings
as at November 30, 2021
CREDIT RATING
as at October 31, 2021
Security Name Coupon Weight

CANADIAN GOVERNMENT 01.12.2051 2.00% 2.36%

CANADIAN GOVERNMENT 01.09.2025 0.50% 2.06%

CANADIAN GOVERNMENT 01.06.2030 1.25% 1.93%

CANADIAN GOVERNMENT 01.06.2031 1.50% 1.86%

CANADIAN GOVERNMENT 01.09.2023 2.00% 1.85%

CANADIAN GOVERNMENT 01.11.2022 0.25% 1.64% AAA (48.24%)

AA (32.31%)
CANADIAN GOVERNMENT 01.12.2030 0.50% 1.63% A (11.87%)
CANADIAN GOVERNMENT 01.04.2024 0.25% 1.62% BBB (7.59%)

CANADIAN GOVERNMENT 01.03.2026 0.25% 1.45%

CANADIAN GOVERNMENT 01.02.2023 0.25% 1.42%

Horizons - CDN Select Universe Bond ETF (Timestamp: December 03, 2021) 3 of 4
 WWW.HORIZONSETFS.COM

1
Volume: Real-time volume on the Toronto Stock Exchange only.
2
Net Assets: The value of all assets, less the value of all liabilities, at a particular point in time. (Includes all classes of this ETF) .
3
Consolidated Prior Day Volume: The ETF’s aggregate volume traded on all Canadian exchanges.
4
Average Daily Trading Volume over 12 Month Period: The ETF’s aggregate average daily trading volume over a 12 month period traded on all Canadian exchanges.
5
Counterparty Exposure: represents a net amount owed to or owed from the ETF’s Bank Counterparty(ies), as a percentage of the total net assets of the ETF. If the
figure is negative, there is no counterparty risk as the ETF has more cash collateral than the net assets of the ETF and the ETF owes that net amount to its Bank
Counterparty(ies). If the figure is positive, there is counterparty risk for the net amount owed to the ETF by the Bank Counterparty(ies). Counterparty risk generally refers
to the credit risk with respect to the amount an ETF expects to receive from its Bank Counterparty(ies) to the financial instruments entered into by the ETF.
6
LEI: The Legal Entity Identifier (LEI) is the International ISO standard 17442. LEIs are identification codes that enable consistent and accurate identification of all
legal entities that are parties to financial transactions, including non-financial institutions.
7
Estimated Annualized Yield: An estimate of the annualized yield an investor would receive if the most recent distribution rate stayed the same for the next twelve
months, stated as a percentage of the net asset value per unit on the date before the ex-dividend date of the current distribution.
8
Weighted Average Coupon: Weighted Average coupon refers to the average coupon rate of the underlying bonds in the portfolio or index, as applicable, weighted by
the relative size of each bond in that portfolio or index.
9
Weighted Average Yield to Maturity: The yield to maturity of a bond is stated as an interest rate and represents the present value of a bonds future coupon payments
plus the difference between the bonds current market price and its par value receivable at maturity. The yield to maturity considers not only the coupon income, but any
capital gain or loss that the investor will realize by holding the bond to maturity. It also considers the reinvestment of the coupons. The Weighted Average Yield to
Maturity is the average yield to maturity of each of the underlying bonds in the portfolio or index, as applicable, weighted by the relative size of each bond in that
portfolio or index.
10
Index 12-month trailing yield: Sum of the weighted trailing dividend yields of index constituent securities over the previous 12 months. The trailing yield is defined
as the sum of distribution per share amounts that have gone ex-dividend over the prior 12 months, divided by the stock price as at the close on the last business day of
the last month end. Gross or net dividend amounts are used based on the local market convention. All cash dividend types are included in this yield calculation.

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 prospectus
beforeinvesting.

Solactive Indices
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.

*The indicated rates of return are the historical annual or annual compounded total returns (as indicated) 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 [the Index/Indices] or returns on investment in the ETF
[the Index/Indices is not/are not directly investable]. Only the returns for periods of one year or greater are annualized returns.

Horizons - CDN Select Universe Bond ETF (Timestamp: December 03, 2021) 4 of 4