Mr. Matt Gierasimczuk reports

VANGUARD INVESTMENTS CANADA ANNOUNCES ESTIMATED 2023 ANNUAL CAPITAL GAINS DISTRIBUTIONS FOR THE VANGUARD ETFS

Vanguard Investments Canada Inc. has estimated annual capital gains distributions for the Vanguard exchange-traded funds listed in an attached table for the 2023 tax year. This is an update to the annual capital gains distributions estimated 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 continuing monthly or quarterly cash distribution amounts, which are reported in a separate press release.

Vanguard Investments Canada expects to declare the final year-end distribution amounts for all ETFs (with the exception of Vanguard U.S. Aggregate Bond Index ETF, Vanguard Global ex-U.S. Aggregate Bond Index ETF and Vanguard Global Aggregate Bond Index ETF, which were declared on Dec. 18, 2023) on or about Dec. 28, 2023. The ex dividend date for the 2023 year-end distributions for these ETFs will be Dec. 28, 2023. The record date will be Dec. 29, 2023, and payable on Jan. 8, 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.

We seek Safe Harbor.