^††Target distribution rate is not indicative of investment performance or total return.

The Fund targets monthly distributions of 14% per annum, calculated on the net asset value per unit as at December 31 of the prior year. Distributions may change and are not guaranteed. They may be comprised of net income, net realized capital gains and/or return of capital, which may reduce the Fund’s net asset value. Changes in market conditions may result in a lower distribution rate or a greater return of capital. See the prospectus for details.

All distributions paid to an investor, other than on ETF Series securities, will be reinvested automatically in additional units of the same series of units of the Fund at the net asset value per unit of that series without any fee unless you ask us to be paid in cash rather than receive units of the Fund at least five business days in advance of the date on which distributions are payable.

The Fund is generally exposed to the following risks: Active management risk; Borrowing risk; Capital depletion risk; Collateral risk; Commodity risk; Concentration risk; Currency risk; Cybersecurity risk; Derivatives risk; Energy risk; Exchanged traded funds risk; Foreign investment risk; Inflation risk; Interest rate risk; Leverage risk; Liquidity risk; Market risk; Performance fee risk; Regulatory risk; Rule 144A and other exempted securities risk; Securities lending, repurchase and reverse repurchase transactions risk; Series risk; Short selling risk; Small capitalization natural resource company risk; Specific issuer risk; Tax risk; Absence of an active market for ETF Series risk; Halted trading of ETF Series risk; Trading price of ETF Series risk.

The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not a resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

© 2025 Morningstar Research Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; (3) and is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Morningstar Ranking/Number of Funds in Category displays the Fund’s actual rank within its Morningstar Category based on average annual total return and number of funds in that Category. The ranking is subject to change every month.

The Morningstar deciles divide the ranked returns of all funds in a category into ten groups with an equal number of funds in each (1 - 10). The decile measure shows how well a fund has performed compared to all other funds in the same category over the same time period and are updated monthly. Within a group, the top 10% of the funds are in the first decile, the next 10% are in the second decile, and so forth. The bottom 10% of funds with the poorest relative performance are in the tenth decile. For more details on the calculation of Morningstar percentile and fractional ranks please, visit morningstar.ca.

Effective September 3, 2024, Ninepoint High Interest Savings Fund changed its name to Ninepoint Cash Management Fund; and changed its investment strategies to follow the legal requirements for money market funds with respect to quality, liquidity and maturity of investments; and permitted the Fund to engage in securities lending as permitted by securities regulations. Effective March 4, 2019 the Ninepoint Short Term Bond Fund’s name was changed to the Ninepoint High Interest Savings Fund, and also changed its investment objective. Effective August 3, 2023 the Fund’s strategy was changed to include the option to invest in high-quality money market securities. The above is the performance for the Ninepoint Short Term Bond Fund up to March 4, 2019, the Ninepoint High Interest Savings Fund from March 8, 2019 to August 2, 2023 and that of the new strategy for the Ninepoint High Interest Savings Fund to September 2, 2024. All performance after September 3, 2024 is that of the Ninepoint Cash Management Fund.

The Fund is generally exposed to the following risks: Active management risk; Borrowing risk; Credit risk; Cybersecurity risk; Inflation risk; Interest rate risk; Leverage risk; Market risk; Securities lending, repurchase and reverse repurchase transactions risk; Series risk; Specific issuer risk; Tax risk; Absence of an active market for ETF Series risk; Halted trading of ETF Series risk; Trading price of ETF Series risk.

Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Past performance may not be repeated.

The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

The Fund is generally exposed to the following risks: Active management risk; Borrowing risk; Commodity risk; Currency risk; Cybersecurity risk; Derivatives risk; Exchange traded funds risk; Foreign investment risk; Inflation risk; Leverage risk; Liquidity risk; Market risk; Performance fee risk; Securities lending, repurchase and reverse repurchase transactions risk; Series risk; Short selling risk; Small capitalization natural resource company risk; Specific issuer risk; Tax risk; Uninsured losses risk. Additional risks specific to the ETF Series securities include the Absence of an Active Market for ETF Series Risk; Halted Trading of ETF Series Risk; and Trading Price of ETF Series Risk.

Ninepoint Partners LP is the investment manager to a number of funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The indicated rates of return for series F units of the Funds for the period ended 11/28/2025 are based on the historical annual compounded total returns including changes in unit value and reinvestment of all distributions or dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. This communication does not constitute an offer to sell or solicitation to purchase securities of the Funds.

The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not a resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.