Horizons Alternative Asset Total Return Fund is completing a mandatory exchange at close of business Tuesday, May 26, 2026, 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 ratios detailed in the attached table.

For each subscription receipt share of HBGYF.C held, shareholders will receive 0.08826125 common share of HBGYF. Following the conversion, the HBGYF.C NEO Connect symbol will be removed from the platform.