Mr. Jonathan McGuire reports

GLOBAL X LAUNCHES U.S. INFRASTRUCTURE DEVELOPMENT INDEX ETF FOR CANADIAN INVESTORS

Global X Investments Canada Inc. has launched the Global X U.S. Infrastructure Development Index ETF. Units of the exchange-traded fund begin trading today on the Toronto Stock Exchange.

The United States is in the middle of a generational buildout to lay the physical foundation for the next stage of its innovation economy, driven largely by the construction of new artificial intelligence infrastructure and next-generation manufacturing facilities. Between January, 2025, and mid-March, 2026, U.S. companies announced dozens of new or expanded manufacturing facilities totalling $1.4-trillion in potential investments.

"Infrastructure development remains a powerful long-term theme, driven by decades of deferred spending and a growing urgency to modernize transportation, energy and communications networks across the United States," said Chris McHaney, executive vice-president, investment management and strategy, at Global X. "PAVE gives Canadian investors a dedicated, cost-efficient way to access U.S.-listed companies that are central to this rebuilding and reshoring effort, from engineering and construction firms to the producers of the materials and machinery that make large-scale projects possible."

PAVE is the Canadian-listed version of the Global X U.S. Infrastructure Development ETF, which launched in the United States in 2017 and has grown to become one of the leading infrastructure-focused ETFs in North America. This Canadian launch leverages Mirae Asset Financial Group's global ETF platform to bring this established strategy to investors in Canada.

Key details for PAVE are outlined below.

PAVE seeks to replicate, to the extent possible and net of expenses, the performance of the Indxx U.S. Infrastructure Development Index, which measures the performance of United States-listed companies that provide exposure to infrastructure development in the United States. This includes companies involved in construction and engineering, the production of materials and composites, transportation of materials, and the manufacturing and distribution of heavy equipment.

To achieve its investment objective, PAVE expects to invest primarily in the Global X U.S. Infrastructure Development ETF, a U.S.-domiciled and listed exchange traded fund managed by the U.S. affiliate of the manager. No currency hedging is employed in respect of U.S.-dollar units or Canadian-dollar units of the ETF.

The base currency of the ETF is U.S. dollars. The ETF is available to investors in both Canadian dollars and U.S. dollars, offering flexibility for investors seeking to manage their currency exposure.

The ETF closed its initial offering of units to their designated broker and will begin trading today on the TSX.

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