Ms. Keera Hart reports

PURPOSE INVESTMENTS APPOINTS COINBASE AS ADDITIONAL SUB-CUSTODIAN FOR CRYPTO FUNDS

Purpose Investments Inc. today noted that Coinbase Custody Trust Company LLC, a New York State chartered limited purpose trust company, a subsidiary of Coinbase Global Inc. and one of the world's largest and most-trusted institutional digital asset custodians, will act as an additional subcustodian for the funds it manages, which hold digital assets (the crypto funds) effective as of May 15, 2023.

Purpose has entered into an agreement with Coinbase pursuant to which Coinbase will act as an additional subcustodian for the crypto funds. Coinbase is licensed by the New York State Department of Financial Services. Coinbase Global is a publicly traded company with assets in excess of $100-billion.

"Digital assets offer investors the potential to get early exposure to assets that might power the future of the finance sector, but as the asset class matures, finding safe and reputable ways to invest in cryptocurrency is critical," says Nick Kuriya, head of crypto at Purpose. "When we launched the world's first spot Bitcoin ETF, we did so to provide investors with a secure way to get exposure to this emerging asset class. Our engagement with Coinbase reflects our deep commitment to ensuring that our ETFs remain the best way to access the long-term returns of crypto safely."

Key benefits:

• Assets will continue to be held in segregated cold storage wallets;
• Assets will never be lent out or rehypothecated;
• Purpose offers a dual subcustody structure with two qualified institutional custody providers (Gemini and Coinbase).

Purpose is a global leader in digital asset management, offering four crypto funds, including the world's first spot Bitcoin ETF (Purpose Bitcoin ETF; TSX: BTCC), the first spot Ether ETF (Purpose Ether ETF; TSX: ETHH), and the first actively management covered call crypto ETFs (Purpose Bitcoin Yield ETF; TSX: BTCY, and Purpose Ether Yield ETF; TSX: ETHY). These funds are designed to provide investors with easy and secure ways to get exposure to digital assets. The AUM of the funds managed by Purpose that hold digital assets is approximately $1.2-billion.

About Purpose Investments Inc.

Purpose Investments is an asset management company with more than $16-billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation, offering a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent, technology-driven financial services platform that is reshaping the industry by connecting and creating opportunities across asset management, wealth management and small business financial services.