Mr. Matt Gierasimczuk reports

VANGUARD ANNOUNCES CASH DISTRIBUTIONS FOR THE VANGUARD ETFS (VAB, VSB, VSC, VLB, VCB, VGV, VRIF, VRE AND VDY)

Vanguard Investments Canada Inc. has declared the final April, 2023, cash distributions for certain Vanguard exchange-traded funds, listed in the attached table, that trade on the Toronto Stock Exchange. Unitholders of record on May 1, 2023, will receive cash distributions payable on May 8, 2023. Details of the per-unit distribution amounts are set out herein.

About Vanguard Investments Canada Inc.

Canadians own $80-billion in Vanguard assets, including Canada- and United States-domiciled ETFs and Canadian mutual funds. Vanguard manages $54-billion in assets (as of March 31, 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 $7.5-trillion (U.S.) ($10-trillion) in global assets, including over $2.1-trillion (U.S.) ($2.8-trillion) in global ETF assets (as of Feb. 28, 2023). Vanguard has offices in the United States, Canada, Mexico, Europe, Australia and Asia. The firm offers 431 funds, including ETFs, to its more than 30 million investors worldwide.

Vanguard operates under a unique operating structure. Unlike firms that are publicly held or owned by a small group of individuals, The Vanguard Group is owned by Vanguard's Unites States-domiciled funds and ETFs. Those funds, in turn, are owned by Vanguard clients. This unique mutual structure aligns Vanguard interests with those of its investors, and drives the culture, philosophy and policies throughout the Vanguard organization worldwide. As a result, Canadian investors benefit from Vanguard's stability and experience, low-cost investing, and client focus.

Important information

Commissions, management fees and expenses all may be associated with investment funds. Investment objectives, risks, fees, expenses and other important information are contained in the prospectus. Please read it before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Vanguard funds are managed by Vanguard and are available across Canada through registered dealers.