Mr. Martin Fabregas reports

HORIZONS ETFS ANNOUNCES JANUARY 2021 DISTRIBUTIONS FOR ITS COVERED CALL ETFS

Horizons ETFs Management (Canada) Inc. has declared the distribution amounts per unit for its suite of covered-call exchange-traded funds, for the period ending Jan. 31, 2021, as indicated in the table below.

The ex dividend date for the distributions is anticipated to be Jan. 28, 2021, for all unitholders of record on Jan. 29, 2021. The distributions for units of each ETF will be paid in cash or, if the unitholder has enrolled in the respective ETF's dividend reinvestment plan, reinvested in additional units of the applicable ETF, on or about Feb. 10, 2021.

Horizons ETFs has made an additional announcement regarding the January distributions for certain ETFs in a separate press release.

Each ETF does not have a fixed distribution but pays distributions monthly. Distribution rates are generally based on the average current volatility of the securities held by the ETF, along with any dividend income received, less expenses payable by the ETF. The amount of monthly cash distributions are expected to fluctuate from month to month, and there can be no assurance that an ETF will make any distributions in any particular month or months. Monthly distributions will be paid in cash, unless the investor has chosen to participate in the ETF's reinvestment plan.

About Horizons ETFs Management (Canada) Inc.

Horizons ETFs Management (Canada) is an innovative financial services company and offers one of the largest suites of exchange-traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has more than $17-billion of assets under management and 93 ETFs listed on major Canadian stock exchanges.