HORIZONS

CRUDE OIL ETF

HUC $15.65 Ticker:
HUC
Eligibility:
All Registered and Non-Registered Accounts
CHANGE $0.39 +2.56%
Inception Date: Benchmark:
VOLUME1 7307
June 24, 2009 Solactive Light Sweet Crude Oil Winter MD
LAST CLOSE $15.26
Rolling Futures Index ER
Net Assets2:
Prices delayed by 15 minutes.
26,845,879 (as at 2021-09-14) Bloomberg Index Ticker:
Last trade: Sep 15, 2021 05:00 PM
SOLCCLZ1
Consolidated Prior Day Volume3:
5,088 (for 2021-09-14) Management Fee:
0.75% (plus applicable sales tax)
Average Daily Trading Volume Over A 12
Month Period5: Management Expense Ratio 4:
37,425 (as at 2021-08-31) 0.88% (AS AT 2021-06-30)

Exchange: Currency:
Toronto Stock Exchange CAD

Investment Manager: LEI 6:

Horizons ETFs Management (Canada) Inc. 5493002LS9WP283EI911

Horizons - Crude Oil ETF (Timestamp: September 16, 2021) 1 of 4

Investment Objective
Horizons HUC seeks investment results, before fees, expenses, distributions, brokerage commissions and other PRICE AND NAV
as at September 14, 2021
transaction costs, that endeavour to correspond to the performance of the Solactive Light Sweet Crude Oil Winter MD
Rolling Futures Index ER. Horizons HUC is denominated in Canadian dollars. Any U.S. dollar gains or losses as a result of Nav/Unit: $15.2895
the ETF’s investment will be hedged back to the Canadian dollar to the best of the ETF’s ability. Price: $15.26

Daily NAV (Since Inception) HUC Volume Premium Discount: $-0.03

Premium Discount Percentage: -0.19%
$20.00 Outstanding Shares: 1,755,840

$10.00

$0.00

2010 2012 2014 2016 2018 2020

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
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.

Growth Of 10K (Since Inception)

$15k

$10k

$5k

$0k
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

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
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
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
vary.

Annualized Performance*
1 Mo 3 Mo 6 Mo YTD 1 Yr 3 Yr 5 Yr 10 Yr SIR**

Horizons Crude Oil ETF -2.78 7.50 19.59 43.04 49.80 0.24 5.61 -3.49 -2.37
**Performance since inception on June 24, 2009, as at August 31, 2021

Calendar Year Performance*

2013 2014 2015 2016 2017 2018 2019 2020

- - - -
ETF (HUC) 4.90 23.28 -3.63 20.41
30.76 30.30 12.26 20.79

Solactive Light Sweet Crude Oil Winter MD Rolling Futures - - - -

5.63 26.75 -2.42 20.64
Index Excess Return 30.01 28.38 11.84 18.59

Horizons - Crude Oil ETF (Timestamp: September 16, 2021) 2 of 4

Commodity Rolls
as at September 15, 2021

Name Weighting

Winter-term Crude Oil December 2022 100.00%

Click here for more information on Crude Oil futures

Horizons - Crude Oil ETF (Timestamp: September 16, 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). Under National Instrument 81-
102, the net amount owed to the ETF’s Bank Counterparty(ies), which is also the positive mark-to-market value of the derivative instruments in the ETF, cannot generally
exceed 10% of the net assets of the ETF, therefore counterparty risk is limited to a maximum of 10% of the ETF’s net assets. 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
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.

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
before investing.

Solactive Indices
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 - Crude Oil ETF (Timestamp: September 16, 2021) 4 of 4