Mr. Martin Fabregas reports

HORIZONS ETFS ANNOUNCES JANUARY 2021 DISTRIBUTIONS FOR CERTAIN ETFS

Horizons ETFs Management (Canada) Inc. has released the distribution amounts per unit for certain of its exchange-traded funds for the period ending Jan. 31, 2021, as indicated in the attached table.

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 (DRIP), 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 its family of covered-call ETFs in a separate press release.

                                        JANUARY DISTRIBUTIONS 

ETF name                                                  Ticker   Distribution   Annualized   Frequency
                                                          symbol       per unit        yield*

Horizons Active Corporate Bond ETF                           HAB       $0.02869         3.00%    Monthly  
Horizons Active Cdn Bond ETF                                 HAD       $0.01841         2.04%    Monthly  
Horizons Active Global Fixed Income ETF                      HAF       $0.01875         2.91%    Monthly  
Horizons Active Emerging Markets Bond ETF                   HEMB       $0.03300         3.95%    Monthly  
Horizons Active Floating Rate Preferred Share ETF            HFP       $0.03472         5.01%    Monthly  
Horizons Active Ultra-Short Term Investment Grade Bond ETF   HFR       $0.02101         2.48%    Monthly  
Horizons Active Cdn Municipal Bond ETF                       HMP       $0.01867         2.21%    Monthly  
Horizons Active Preferred Share ETF                          HPR       $0.03563         5.11%    Monthly  
Horizons Active Floating Rate Senior Loan ETF                HSL       $0.01882         2.41%    Monthly  
Horizons Active Ultra-Short Term U.S. Investment Grade
Bond ETF (1)                                               HUF.U       $0.02051         2.43%    Monthly  
                                                             HUF       $0.02051         2.43%    Monthly  
Horizons Active High Yield Bond ETF                          HYI       $0.04646         6.07%    Monthly  
Horizons Tactical Absolute Return Bond ETF (2)            HARB.J       $0.04162         5.00%    Monthly  

* Based on the applicable Jan. 21, 2021, net asset value per unit, which is available at the Horizons
ETFs website.
(1) Distributions for the Horizons Active Ultra-Short Term U.S. Investment Grade Bond ETF are 
declared and paid in U.S. dollars, including those listed under the Canadian-dollar-traded ticker HUF. 
The approximate Canadian-dollar-equivalent distribution rate for HUF is 2.591 cents per unit. For 
unitholders who hold the Canadian-dollar-traded HUF, distribution payments will typically be converted 
to Canadian dollars by the unitholder's account holder.
(2) The units of Horizons Tactical Absolute Return Bond ETF began trading on Dec. 8, 2020. 

Distributions for the ETFs will vary from period to period.