Mr. Rob MacNiven reports

FIRST ASSET ETFS ANNOUNCE DISTRIBUTIONS

First Asset Exchange Traded Funds has declared the tabulated distributions for the month ending May 31, 2013. In each case, the distribution will be paid on or before June 5, 2013, to unitholders of record on May 30, 2013. The ex dividend date in each case is May 28, 2013.

                                                                Distribution
                                                                      amount
                                          Trading symbol          (per unit)

First Asset Canadian Convertible Bond ETF            CXF      $       0.0417
                                                   CXF.A      $       0.0354
First Asset DEX All Canada Bond Barbell              AXF      $       0.0333                        
Index ETF                                          AXF.A      $       0.0292  
First Asset DEX Corporate Bond Barbell               KXF      $       0.0333                       
Index ETF                                          KXF.A      $       0.0292 
First Asset DEX Government Bond Barbell              GXF      $       0.0271                        
Index ETF                                          GXF.A      $       0.0229  
First Asset DEX Provincial Bond Index ETF            PXF      $       0.0333
                                                   PXF.A      $       0.0292
First Asset Morningstar Emerging Markets             EXM      $       0.0396                       
Composite Bond Index ETF                           EXM.A      $       0.0354  
                                                   

All of the distributions indicated in the attached table will be paid in cash unless the unitholder has enrolled in the applicable DRIP of the respective ETF. Under the respective exchange-traded fund. Under the DRIP, any distributions made by an ETF are automatically used to purchase additional units of the ETF making the distribution. Eligible unitholders are encouraged to contact the institution through which they hold their units to confirm enrolment procedures and timelines. A copy of the distribution reinvestment plan is available on the First Asset website.