An anonymous director reports

VANGUARD ANNOUNCES CASH DISTRIBUTIONS FOR THE VANGUARD ETFS (VBU AND VBG)

Vanguard Investments Canada Inc. has provided the final November, 2014, monthly cash distributions for certain Vanguard ETFs listed in the table that trade on the Toronto Stock Exchange. Unitholders of record on Dec. 3, 2014, will receive cash distributions payable on Dec. 8, 2014. Details of the per unit distribution amounts are as displayed in the table.

                                                                                                  
Vanguard ETF                                                   TSX     Distribution  Payment  
                                                               ticker  per unit ($)  frequency
                                                               symbol                         

Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged)            VBU     0.042800      Monthly  
Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)  VBG     0.042179      Monthly