Horizons Alternative Asset Total Return Fund is completing a mandatory exchange at close of business on Friday, Dec. 12, 2025, where all subscription receipt shares of the fund currently held under the symbol and Cusip number in the attached table will be converted into regular common shares of the fund based on the ratio shown in the attached table.

For each subscription receipt share of the fund held, shareholders will receive 0.08883204 common share of the fund. Following the conversion, the HBGYF.B Neo Connect symbol will be removed from the platform.