Mr. Matt Gierasimczuk reports

VANGUARD INVESTMENTS CANADA ANNOUNCES ESTIMATED 2023 ANNUAL CAPITAL GAINS DISTRIBUTIONS FOR THE VANGUARD ETFS® - VGAB, VBG, VBU

Vanguard Investments Canada Inc. today estimated annual capital gains distributions for the Vanguard ETFs (exchange-traded funds) listed herein for the 2023 tax year. This is an update to the estimated annual capital gains distributions announced on Nov. 15, 2023. Please note that these are estimated amounts only, as of Dec. 15, 2023, and could change if the Vanguard ETFs experience subscriptions or redemptions prior to the ex dividend date .

These estimates are for the year-end capital gains distributions only, which will be reinvested and the resulting units immediately consolidated, so that the number of units held by each investor will not change. These estimates do not include estimates of ongoing monthly or quarterly cash distribution amounts, which are reported in a separate press release.

The ex dividend date for the 2023 year-end distributions for these ETFs is Dec. 22, 2023. The record date for the 2023 annual distributions will be Dec. 27, 2023, and payable on Jan. 4, 2024. The actual taxable amounts of reinvested capital gains distributions for 2023, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc.) in early 2024.

About Vanguard Investments Canada Inc.

Canadians own $87-billion in Vanguard assets, including Canadian and United States-domiciled ETFs and Canadian mutual funds. Vanguard Investments Canada manages $57-billion in assets (as of Sept. 30, 2023) with 37 Canadian ETFs and six mutual funds currently available. The Vanguard Group Inc. is one of the world's largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages $7.8-trillion (U.S.) ($10.8-trillion) in global assets, including over $2.2-trillion (U.S.) ($3-trillion) in global ETF assets (as of Sept. 30, 2023). Vanguard has offices in the United States, Canada, Mexico, Europe, Australia and Asia. The firm offers 430 funds, including ETFs, to its more than 30 million investors worldwide.

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