Ms. Hilary Bassett reports

MACKENZIE INVESTMENTS ANNOUNCES RISK RATING CHANGES FOR SELECT ETFS

IGM Financial Inc.'s Mackenzie Investments has made changes to the risk ratings of select exchange-traded funds (ETFs), effective on or about July 27, 2023. Mackenzie reviews and adjusts risk ratings in accordance with the risk classification methodology mandated by the Canadian securities regulators. The risk rating of the following ETFs will change as outlined in the attached table. There are no changes to the investment strategies of these ETFs.

About Mackenzie Investments

Mackenzie Investments is a leading investment management firm with $193-billion in assets under management as of June 30, 2023. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing. Mackenzie is a member of IGM Financial, one of Canada's premier financial services companies with approximately $261-billion in total assets under management and advisement as of June 30, 2023.