harvest exchange traded funds investment products · hul hul.u equity income / us equity...

Income happens here.

March 2020

INVESTMENT PRODUCTSHarvest Exchange Traded Funds

Managed by Harvest Portfolios Group Inc.

TABLE OF CONTENTS

Harvest Brand Leaders Plus Income ETF

Harvest Energy Leaders Plus Income ETF

Harvest Global REIT Leaders Income ETF

Harvest Global Resource Leaders ETF

Harvest US Bank Leaders Income ETF

Harvest Healthcare Leaders Income ETF

About Harvest

Harvest ETFs Investment Snapshot

Why Invest Sheets

Call Option Writing Strategy

Contact Us

Harvest Tech Achievers Growth & Income ETF

Harvest US Equity Plus Income ETF

Harvest Global Gold Giants Index ETF

Harvest Equal Weight Global Utilities Income ETF

Blockchain Technologies ETF

0102

0305

2729

03

070911131517192123

Harvest US Investment Grade Bond Plus ETF25

OUR PRINCIPLES

INVESTMENT PHILOSOPHY INVESTMENT PROCESS

Consistent Income

Simplicity & Transparency

At Harvest, our guiding principles are premised on building wealth for our clients through ownership of strong businesses that have the potential to grow & generate steady income over time.

Our approach analyses profitability and dividend history and from that we select the best of the best. Monthly dividends are enhanced by a covered call writing strategy that reduces risk and generates additional income.

Harvest believes in providing investors with clear mandates that are easily understood and portfolios that are transparent and accessible to all. Know what you own.

We offer simple, easy to understand, income and growth orientated ETF portfolios.

Growth ThemesOur quantitative model selects leading companies with a long history of success. They dominate their industries, they innovate, they evolve and their consistent performance is measured by a long record of rising sales and profits.

GROWTH THEMES GLOBAL LEADERS INCOME

• Harvest ETFs focus on growth industries and secular trends• We own quality businesses• We deliver income

Investment Universe

Quantitative Screen

Fundamental Financials

Active Decisions

- 1 -

DistributionManagement

Fee

Monthly

Harvest Portfolios Group’s investment funds (each, a “Fund”) are not guaranteed; their values change frequently and past performance may not be repeated. Commissions, management fees and expenses all may be associated with investing in the Funds. Please consult your financial advisor and read a Fund’s prospectus before investing. Certain statements, such as each Fund’s monthly income, constitute forward-looking statements and reflect current expecta-tions and are subject to a number of risks and uncertainties that are set out in each Fund’s prospectus.

ARVEST

TSX SymbolETF Name

Covered Call

CAD Hedged

Risk Rating

Investment Style

Harvest Brand Leaders Plus Income ETF

Harvest Brand Leaders Plus Income ETF (US)

HBF

HBF.UEquity Income / Global Brand Leaders Active

√

√

√

-

Investment Thesis(Leaders Series denotes between 15 to 30

Large Cap stocks in the portfolio)

0.75%

MonthlyHarvest Energy Leaders Plus Income ETF

Harvest Energy Leaders Plus Income ETF (US)

HPF

HPF.UEquity Income / Global Energy Leaders

√

√

√

-Active 0.85%

MonthlyHarvest Global REIT Leaders Income ETF ActiveHGR Equity Income / Global REIT Leaders √ √ 0.85%

QuarterlyHarvest Global Resource Leaders ETF Active

Active

HRES Equity Income / Global Resource Leaders √ √ 0.75%

MonthlyHarvest US Bank Leaders Income ETF

Harvest US Bank Leaders Income ETF (US)

HUBL

HUBL.UEquity Income / US Bank Leaders

√

√

√

-Active 0.75%

MonthlyHarvest Healthcare Leaders Income ETF

Harvest Healthcare Leaders Income ETF (US)

HHL

HHL.U

Equity Income / Global Healthcare Leaders

√

√

√

-Active 0.85%

MonthlyHarvest Tech Achievers Growth & Income ETF

Harvest Tech Achievers Growth & Income ETF (US)

HTA

HTA.UEquity Income / Global Technology

√

√

√

-Active 0.85%

QuarterlyHarvest US Equity Plus Income ETF

Harvest US Equity Plus Income ETF (US)

HUL

HUL.UEquity Income / US Equity

√

-

-

-Active 0.75%

Blockchain Technologies ETF IndexHBLK Equity / Blockchain Large Cap & Emerging - - - 0.65%

Monthly

Monthly

Harvest Equal Weight Global Utilities Income ETF PassiveHUTL Equity Income / Global Utilities Leaders √ √

√

0.50%

Harvest Global Gold Giants Index ETF Index

Medium

Medium to High

Medium to High

Medium

High

Medium

Medium

Medium

High

Harvest US Investment Grade Bond Plus ETF HUIB Investment GradeUS Corporate Bonds - 0.48%Low

Low toMedium

HighHGGG Equity /Global Gold Leaders - - - 0.40%

Harvest ETFs Investment Snapshot

- 2 -

• Global: Global trends driving long-term growth

• Diversified: Portfolio of 20 large capitalization global healthcare leaders

• Attractive Income: Monthly income with opportunity for capital appreciation

• Covered Call Strategy: Enhance portfolio income and lower portfolio volatility

• Hedged: HHL unit currency hedged; HHL.U trades in USD and is unhedged

Healthcare Spending in Developing Markets

Increases with Income

Investment Highlights Fund FactsTSX Ticker:

CUSIP (HHL):

CUSIP (HHL.U):

Inception Date (HHL):

Inception Date (HHL.U):

Distribution Frequency:

Distribution Method

Management Fee:

Risk Rating:

HHL | HHL.U

41755F107

41755F206

11/19/2014

01/17/2017

Monthly

Cash or DRIP

0.85%

Medium

Portfolio Metrics*Average Market Capitalization:

Number of Equity Securities:

Current Yield (Class A):

Recent Distribution per unit:

Total Distribution (Class A - Since Inception):

Average Portfolio Dividend Yield:

Average Price to Earnings:

5 Year Average Return on Equity:

Permanent & Non-Cyclical Trends Driving Sector

Proportion of Population Over 60

$75 $420 $715 $893 $1,061

$4,135

$5,192

$9,403

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

2014 Health Expenditure per capita (US$)

Source: The World Bank, 2015

As at February 28, 2020

54 60 67 75 79 90 101 11260 70 84 96 115 134 169 209

536 556 568 579 575 587651

739649 686

719 750 768 811

920 1,060

2005 2010 2015 2020 2025

-

200

400

600

800

1,000

1,200

2 0 0 8 2 0 1 0 2 0 1 2 2 0 1 4 2 0 1 6 2 0 1 8 2 0 2 0 2 0 2 2

$

Worldwide Total Prescription Drug Sales, 2008-2022

GenericsOrphanPrescription excl. Generics & Orphan

Source: Deloitte, 2018 Global life sciences outlook, Evaluate Pharma 2017

Source: United Nations Population Division; World Population Prospects, June 2017

CA$177B

20

9.65%

$0.0583

$3.6146

2.38 %

14.9 X

20.98 %

- 3 -

World Class Portfolio of Healthcare Leaders

Sub-Sector Diversification Portfolio With Global Exposure

Performance (%)

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). The indicated rates ofreturn are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account income taxes payable by anysecurityholder that would have reduced returns. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance maynot be repeated. Tax, investment and all other decisions should be made with guidance from a qualified professional. Certain statements included in this communication constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. Theforward-looking statements are not historical facts but reflect the Fund’s, Harvest and the Manager of the Fund’s current expectations regarding future results or events. These forward lookingstatements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, Harvest and theManager of the Fund believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and,accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes noobligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect thisinformation, except as required by law. *Source: Bloomberg. Average statistics calculated based on portfolio weighted average. Dividend yield based on Bloomberg indicated 12 month yield ofportfolios positions and does not represent the distribution yield paid to investors. P/E calculated based on Bloomberg consensus 12 month forward earnings estimates. Return on Equity (ROE)based on 5 year trailing average ROE. The above information is for illustrative purposes only, is estimated and unaudited. Distributions are paid to you in cash unless you request, pursuant toyour participation in a distribution reinvestment plan, that they be reinvested into Class A or Class U units of the Fund. If the Fund earns less than the amounts distributed, the difference is areturn of capital.


As of February 29,

2020 1 Month 3 Month 6 Month YTD 1 Year 2 Year 3 Year 5 Year SI

HHL -5.23 -5.19 2.66 -8.58 -0.12 3.37 4.22 3.12 3.51

HHL.U -5.16 -5.00 2.97 -8.48 0.64 4.20 5.07 - 6.29

Foreign Currency Forwards

(2)% Health Care Equipment & Supplies

20%

Health Care Providers &

Services16%

Biotechnology22%

Pharmaceuticals44%


(2)% France5%

Switzerland5%

United Kingdom

10%United States82%

- 4 -

• Core US Large Cap Portfolio: Companies selected from the World’s Top 100 rated Brands

• Opportunity for Capital Appreciation: Long equity bias at all times

• Globally diversified: Dominant companies with operations in multiple continents



• Currency: Available in Canadian dollar hedged HBF and US dollar unhedged HBF.U units

Investment Highlights Fund Facts









Strength of Global Brands

TSX Ticker:

CUSIP (HBF):

CUSIP (HBF.U):

Inception Date (HBF):

Inception Date (HBF.U):


Distribution Method

Management Fee:

Risk Rating:

HBF | HBF.U

41753L106

41753L114

06/26/2014

06/26/2014

Monthly

Cash or DRIP

0.75%

Medium

Strong Dividend GrowthFree Cash Flow Growth

Source: Bloomberg, based on fiscal year end.

Change in Dividend / Share

0%

500%

1000%

1500%

2000%

2500%

3000%

3500%

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Adding Free Cash Flow With Dividend Yields Delivers Strong Outperformance

S&P 500 Dividend and Free Cash Flow Yield Index (USD) TR

S&P 500 Total Return Index

S&P 500 Dividend Aristocrats Total Return Index


Source: Bloomberg, February 28, 2020

PREMIUM PRICING:

- built on trust & loyalty

SURVIVORS:

- loyalty, endurance,

long operating history

DIVERSITY:

- across geographic & cultural barriers

GROWTH & STABILITY:

- long term growth and

dividend generators

CA$434B

20

7.45%

$0.0542

$3.6314

2.19 %

18.4 X

40.13 %

- 5 -

World Class Portfolio of Brand Leaders

Sub-Sector Diversification

Performance (%)

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). The indicated rates ofreturn are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account income taxes payable by anysecurityholder that would have reduced returns. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may notbe repeated. Tax, investment and all other decisions should be made with guidance from a qualified professional. Certain statements included in this communication constitute forward-lookingstatements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. The forward-lookingstatements are not historical facts but reflect the Fund’s, Harvest and the Manager of the Fund’s current expectations regarding future results or events. These forward looking statements aresubject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, Harvest and the Manager of the Fundbelieves that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers arecautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes no obligation to update publicly orotherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.*Source: Bloomberg. Average statistics calculated based on portfolio weighted average. Dividend yield based on Bloomberg indicated 12 month yield of portfolios positions and does not representthe distribution yield paid to investors. P/E calculated based on Bloomberg consensus 12 month forward earnings estimates. Return on Equity (ROE) based on 5 year trailing average ROE. Theabove information is for illustrative purposes only, is estimated and unaudited. Distributions are paid to you in cash unless you request, pursuant to your participation in a distribution reinvestmentplan, that they be reinvested into Class A or Class U units of the Fund. If the Fund earns less than the amounts distributed, the difference is a return of capital.


Cash and Other Assets and Liabilities

2%


(2)% Energy5%

Industrials10%

Consumer Discretionary

15%

Consumer Staples

11%Health Care

5%Financials

15%

Information Technology

29%

Communication Services

10%

As of February 29,

2020 1 Month 3 Month 6 Month YTD 1 Year 3 Year 5 Year SI

HBF -10.22 -7.91 -1.68 -10.55 4.25 7.11 6.91 6.36

HBF.U -10.13 -7.77 -1.37 -10.49 4.99 7.94 7.86 7.15

- 6 -

• Core Technology Portfolio: Unique portfolio of dynamic and growing businesses that are

diversified across the global technology sectors




• Currency: Available in Canadian dollar hedged HTA and US dollar unhedged HTA.U units


CUSIP (HTA):

CUSIP (HTA.U):

Inception Date (HTA):

Inception Date (HTA.U):


Distribution Method

Management Fee:

Risk Rating:

HTA | HTA.U

41755D102

41755D201

04/27/2015

06/14/2017

Monthly

Cash or DRIP

0.85%

Medium








5 Year Average Return on Equity: Compelling Valuations Metrics Amid Accelerating Earnings

US Tech sector is multiples larger than the entire TSX

0

100

200

300

400

500

600

700

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Trailing 12M Earnings per ShareNormalized As Of 04/30/1998

S&P 500 IndexS&P 500 Information Technology Sector GICS Level 1 Index

0

10

20

30

40

50

60

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Best P/E Ratio

S&P 500 Information Technology Sector GICS Level 1 Index

S&P 500 Index



Based on 12 month forward consensus P/E Based on 12m EPS normalized to 12/97


9.9%

Consumer Staples7.2%

Energy3.6%

Financials12.2%

Health Care14.0%

Industrials8.9%


24.4%

Materials2.5%

Real Estate3.1%

Communications Services10.7%

Utilities3.5%

S&P 500 Index


3.9%

Consumer Staples4.0%

Energy15.9%

Financials32.3%

Health Care1.1%

Industrials11.3%


6.3%

Materials10.8%

Real Estate3.7%

Communications Services

5.5%

Utilities5.2%

S&P TSX Composite

CA$403B

20

6.62%

$0.0583

$3.3231

1.30 %

25.0 X

30.01 %

Source: Bloomberg, February 28, 2020 Source: Bloomberg, February 28, 2020

- 7 -

Active Covered Call Strategy on a Quality Portfolio


Performance (%)

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). The indicated rates ofreturn are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account income taxes payable by anysecurityholder that would have reduced returns. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance maynot be repeated. Tax, investment and all other decisions should be made with guidance from a qualified professional. Certain statements included in this communication constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. Theforward-looking statements are not historical facts but reflect the Fund’s, Harvest and the Manager of the Fund’s current expectations regarding future results or events. These forward lookingstatements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, Harvest and theManager of the Fund believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and,accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes noobligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect thisinformation, except as required by law. *Source: Bloomberg. Average statistics calculated based on portfolio weighted average. Dividend yield based on Bloomberg indicated 12 month yield ofportfolios positions and does not represent the distribution yield paid to investors. P/E calculated based on Bloomberg consensus 12 month forward earnings estimates. Return on Equity (ROE)based on 5 year trailing average ROE. The above information is for illustrative purposes only, is estimated and unaudited. Distributions are paid to you in cash unless you request, pursuant toyour participation in a distribution reinvestment plan, that they be reinvested into Class A or Class U units of the Fund. If the Fund earns less than the amounts distributed, the difference is areturn of capital.


Cash and Other

Assets and Liabilities

4%


(2)%

IT Services19%

Software30%

Communications Equipment

5%

Technology Hardware, Storage & Peripherals

5%

Semiconductors & Semiconductor

Equipment29%

Interactive Media & Services

10%

As of February 29,

20201 Month 3 Month 6 Month YTD 1 Year 2 Year 3 Year 4 Year SI

HTA -6.17 -0.57 7.17 -4.02 14.59 9.06 15.49 17.77 11.22

HTA.U -6.05 -0.36 7.56 -3.92 15.54 9.95 - - 14.70

- 8 -

-3.0

-2.0

-1.0

0.0

1.0

2.0

3.0

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Day

s of

Sup

ply

min

us 5

Yr A

vg

Days Supply OECD Inventory -- Above/(Below) 5 Yr Avg

• Core Energy Portfolio: A Diversified Global Portfolio in Energy Leaders


• High Quality: Strong companies that have proven survival during adverse economic times


• Monthly Income: Monthly income $0.03 per unit

• Currency: Available in Canadian dollar hedged HPF and US dollar unhedged HPF.U units


CUSIP (HPF):

CUSIP (HPF.U):

Inception Date (HPF):

Inception Date (HPF.U):


Distribution Method

Management Fee:

Risk Rating:

HPF | HPF.U

41753Y108

41753Y116

09/24/2014

09/24/2014

Monthly

Cash or DRIP

0.85%

Medium to High







Crude Volatility

Inventory Levels Falling Supporting Higher Prices




CA$87B

20

11.18%

$0.03

$2.9954

4.50 %

$20

$25

$30

$35

$40

$45

$50

$55

$60

$65

$70

$75

US$

/bar

rel

WTI USD

- 9 -

World Class Portfolio of Energy Leaders

Sub-Sector Diversification Geographic Diversification

Performance (%)

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). The indicated rates of returnare the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account income taxes payable by any securityholder thatwould have reduced returns. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax,investment and all other decisions should be made with guidance from a qualified professional. Certain statements included in this communication constitute forward-looking statements, including,but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. The forward-looking statements are nothistorical facts but reflect the Fund’s, Harvest and the Manager of the Fund’s current expectations regarding future results or events. These forward looking statements are subject to a number ofrisks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, Harvest and the Manager of the Fund believes that the assumptionsinherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue relianceon such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes no obligation to update publicly or otherwise revise any forward-lookingstatement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. *Source: Bloomberg. Average statisticscalculated based on portfolio weighted average. Dividend yield based on Bloomberg indicated 12 month yield of portfolios positions and does not represent the distribution yield paid to investors.P/E calculated based on Bloomberg consensus 12 month forward earnings estimates. Return on Equity (ROE) based on 5 year trailing average ROE. The above information is for illustrativepurposes only, is estimated and unaudited. Distributions are paid to you in cash unless you request, pursuant to your participation in a distribution reinvestment plan, that they be reinvested intoClass A or Class U units of the Fund. If the Fund earns less than the amounts distributed, the difference is a return of capital.


Cash and Other

Assets and Liabilities

2%


(2)%

Oil & Gas Equipment & Services

5%

Integrated Oil & Gas

34%Oil & Gas Exploration &

Production35%

Oil & Gas Refining & Marketing

15%

Oil & Gas Storage &

Transportation11%


2%


(2)%

Canada22%

China5%

France5%

Netherlands5%

United Kingdom

5%

United States58%

As of February 29,

2020 1 Month 3 Month 6 Month YTD 1 Year 3 Year 5 Year SI

HPF -12.77 -15.76 -11.74 -20.23 -21.43 -9.33 -7.90 -9.21

HPF.U -12.94 -15.83 -11.67 -20.64 -20.96 -8.23 -6.51 -8.01

- 10 -

2.1%

3.3% 3.3%

4.4%4.8%

5.2%5.8%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%

5.5%

6.0%

6.5%

S&P 500 TSX US REITS Canada REITS Australia REITS Europe REITS Harvest GlobalREIT LeadersIncome ETF

(HGR)

Yiel

d

• Unique Global Portfolio: Large cap, dominant real estate issuers in key developed markets

• Diversification: Alternative source of REIT investments for Canadians

• Attractive income: Monthly Income with opportunity for capital appreciation

• Covered Call Strategy: Monthly call writing on select positions to generate additional income

• Exposure to Growth Sectors: Select REITs with exposure to Technology, Healthcare & E-commerce

• ETF: Trades on the TSX under the symbol HGR; Currency hedged to CAD


CUSIP:

Inception Date:


Distribution Method

Management Fee:

Risk Rating:

HGR

41754X109

06/14/2017

Monthly

Cash or DRIP

0.85%

Medium







Opportunities Outside Canada


CA$28B

30

5.79%

$0.0458

$1.4656

3.19 %


Global Scale & Quality

Income Diversification

Enhanced High Income

Consistent Cash flows

Attractive Income

Source: For illustrative purposes. Bloomberg, July 15, 2019.


S&P 500 REIT Index, S&P/ASX Property Index, S&P/TSX REIT Index, FTSE EPRA Nareit Developed Europe REITS Index

Access to Growth Sectors

Not Available in Canada

- 11 -

World Class Portfolio of REIT Leaders

Sub-Sector Diversification Geographic Diversification

Performance (%)

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). The indicated rates ofreturn are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account income taxes payable by anysecurityholder that would have reduced returns. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance maynot be repeated. Tax, investment and all other decisions should be made with guidance from a qualified professional. Certain statements included in this communication constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. The forward-looking statements are not historical facts but reflect the Fund’s, Harvest and the Manager of the Fund’s current expectations regarding future results or events. These forward looking statementsare subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, Harvest and the Manager of the Fundbelieves that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers arecautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes no obligation to update publicly orotherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.*Source: Bloomberg. Average statistics calculated based on portfolio weighted average. Dividend yield based on Bloomberg indicated 12 month yield of portfolios positions and does notrepresent the distribution yield paid to investors. P/E calculated based on Bloomberg consensus 12 month forward earnings estimates. Return on Equity (ROE) based on 5 year trailing averageROE. The above information is for illustrative purposes only, is estimated and unaudited. Distributions are paid to you in cash unless you request, pursuant to your participation in a distributionreinvestment plan, that they be reinvested into Class A Units of the Fund. If the Fund earns less than the amounts distributed, the difference is a return of capital.



2%


-1% Health Care Facilities

3%Diversified

REITs10%

Industrial REITs16%

Office REITs13%

Health Care REITs

8%

Residential REITs10%

Retail REITs11%

Specialized REITs17%

Real Estate Operating

Companies11%

As of February 29, 2020 1 Month 3 Month 6 Month YTD 1 Year 2 Year SI

HGR -7.72 -6.51 -4.08 -6.14 4.83 7.91 3.91


2%


(1)% Australia6%

France9%

Germany11%

Spain3%

United Kingdom

9%

United States58%

- 12 -

• Diversified portfolio of 25 US Large cap, dividend paying issuers included

in the S&P 500 Index

• Companies selected using a proven quantitative process

• Quarterly income with opportunity for capital appreciation

• Available in Canadian and US dollar units

• Currency Hedging: HUL hedged to CAD; HUL.U trades in USD unit and unhedged


CUSIP (HUL):

CUSIP (HUL.U):

Inception Date (HUL):

Inception Date (HUL.U):


Distribution Method

Management Fee:

Risk Rating:

HUL | HUL.U

41756A107

41756A206

02/25/2015

02/25/2015

Quarterly

Cash or DRIP

0.75%

Medium








S&P 500 Buyback Index

Corporate Balance Sheets Strong

0

200

400

600

800

1000

1200

0

50

100

150

200

250

300

350

400

450

500

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

S&P

500

Cas

h pe

r sha

re

S&P 500 Cash & Equivalents per share S&P 500 Net Debt per share (LHS)

Cash on US corporate balance sheets

continues to rise



0%

250%

500%

750%

1000%

1250%

1500%

1750%

2000%

2250%

2500%

2750%

3000%

3250%

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

S&P 500 Buyback Index S&P 500 Index

CA$185B

25

5.03%

$0.10

$1.9000

2.24 %

14.2 X

Source: Bloomberg, December 31, 2018

- 13 -

Portfolio of Harvest US Equity Plus Income ETF


Performance (%)

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). The indicated rates ofreturn are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account income taxes payable by anysecurityholder that would have reduced returns. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performancemay not be repeated. Tax, investment and all other decisions should be made with guidance from a qualified professional. Certain statements included in this communication constituteforward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund.The forward-looking statements are not historical facts but reflect the Fund’s, Harvest and the Manager of the Fund’s current expectations regarding future results or events. These forwardlooking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, Harvest andthe Manager of the Fund believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and,accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes noobligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect thisinformation, except as required by law. *Source: Bloomberg. Average statistics calculated based on portfolio weighted average. Dividend yield based on Bloomberg indicated 12 month yieldof portfolios positions and does not represent the distribution yield paid to investors. P/E calculated based on Bloomberg consensus 12 month forward earnings estimates. Return on Equity(ROE) based on 5 year trailing average ROE. The above information is for illustrative purposes only, is estimated and unaudited. Distributions are paid to you in cash unless you request,pursuant to your participation in a distribution reinvestment plan, that they be reinvested into Class A or Class U units of the Fund. If the Fund earns less than the amounts distributed, thedifference is a return of capital.


As of February 29,

20201 Month 3 Month 6 Month YTD 1 Year 2 Year 3 Year 4 Year SI

HUL -10.58 -11.58 -2.94 -14.29 -5.60 -2.76 2.68 7.15 1.53

HUL.U -10.46 -11.35 -2.52 -14.16 -4.69 -1.91 3.42 7.88 2.39

Cash and Other Assets

and Liabilities

2%


(1)% Energy8%

Industrials12%


16%

Consumer Staples

4%

Health Care16%

Financials19%


24%

- 14 -

• Core US Financials Portfolio: Focused on the dominant bank and

financial issuers in the United States

• Diversified: Portfolio of 15 large capitalization US Bank Leaders

• Opportunity for capital appreciation: Long equity bias at all times.



• Currency: Available in Canadian dollar hedged HUBL and US dollar unhedged

HUBL.U units


CUSIP (HUBL):

CUSIP (HUBL.U):

Inception Date (HUBL):

Inception Date (HUBL.U):


Distribution Method

Management Fee:

Risk Rating:

HUBL | HUBL.U

41755H103

41755H202

01/26/2018

01/26/2018

Monthly

Cash

0.75%

Medium to High

Market Correction Presents Valuation Opportunity









CA$120B

15

7.15%

$0.0833

$2.0825

2.94 %

10.0 X


Based on forward four quarter Price-Earnings estimates.Source: Bloomberg, February 28, 2020

8.50

9.50

10.50

11.50

12.50

13.50

14.50

15.50

16.50

US Banks Best P/E

Best PE

- 15 -

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). Please read therelevant prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions anddo not take into account income taxes payable by any securityholder that would have reduced returns. The funds are not guaranteed, their values change frequently and past performancemay not be repeated. Tax, investment and all other decisions should be made with guidance from a qualified professional. Certain statements included in this communication constituteforward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund.The forward-looking statements are not historical facts but reflect the Fund’s, Harvest and the Manager of the Fund’s current expectations regarding future results or events. These forwardlooking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, Harvest andthe Manager of the Fund believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and,accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes noobligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect thisinformation, except as required by law. *Source: Bloomberg. Average statistics calculated based on portfolio weighted average. Dividend yield based on Bloomberg indicated 12 month yieldof portfolios positions and does not represent the distribution yield paid to investors. P/E calculated based on Bloomberg consensus 12 month forward earnings estimates. Return on Equity(ROE) based on 5 year trailing average ROE. The above information is for illustrative purposes only, is estimated and unaudited. Distributions are paid to you in cash. If the Fund earns lessthan the amounts distributed, the difference is a return of capital.

Portfolio Allocation

Portfolio of Quality Large Cap US Bank Leaders As at February 28, 2020

Performance (%)


2%


(1)%

Banks79%

Capital Markets

13%

Insurance7%


HUBL -12.23 -14.71 -2.98 -16.97 -7.13 -9.86 -10.35

HUBL.U -12.11 -14.49 -2.60 -16.83 -6.39 -9.26 -10.04

- 16 -

15.0%

25.0%

35.0%

45.0%

55.0%

65.0%

75.0%

Chi

na/U

S %

of T

otal

Dem

and

Copper

Iron Ore

Steel

Nickel

40

45

50

55

60

65

Feb-

2017

Apr-2

017

Jun-

2017

Aug-

2017

Oct

-201

7

Dec

-201

7

Feb-

2018

Apr-2

018

Jun-

2018

Aug-

2018

Oct

-201

8

Dec

-201

8

Feb-

2019

Apr-2

019

Jun-

2019

Aug-

2019

Oct

-201

9

Dec

-201

9

Feb-

2020

Expa

nsio

n ab

ove

50(C

ontra

ctio

n be

low

50)

Global China EurozoneGermany Japan US

• Quality Global Portfolio: Companies focused on industrial metals, steels, chemicals, and other materials

• Complementary for Canadian Investors: Majority of companies listed on exchanges outside North America

• Portfolio Allocation: Movements between sub-sectors, commodity exposure and positions throughout the cycle

• Selective Covered Calls: Provide opportunity for increased income in relatively lower yielding sector

• Quarterly Income: Quarterly income with opportunity for capital appreciation

• ETF: Trades on the TSX under the symbol HRES; currency hedged to CAD


CUSIP:

Inception Date:


Distribution Method

Management Fee:

Risk Rating:

HRES

41754Q104

01/26/2018

Quarterly

Cash

0.75%

High

Diverging Global Demand Growth(Global Manufacturing PMIs)


Trade War Impact (Combined China & US Materials Annual Demand)

Supply Has Remained Tight – Prices Will be Sensitive to any Trade Resolution

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

Feb-

2008

May

-200

8

Aug-

2008

Nov

-200

8

Feb-

2009

May

-200

9

Aug-

2009

Nov

-200

9

Feb-

2010

May

-201

0

Aug-

2010

Nov

-201

0

Feb-

2011

May

-201

1

Aug-

2011

Nov

-201

1

Feb-

2012

May

-201

2

Aug-

2012

Nov

-201

2

Feb-

2013

May

-201

3

Aug-

2013

Nov

-201

3

Feb-

2014

May

-201

4

Aug-

2014

Nov

-201

4

Feb-

2015

May

-201

5

Aug-

2015

Nov

-201

5

Feb-

2016

May

-201

6

Aug-

2016

Nov

-201

6

Feb-

2017

May

-201

7

Aug-

2017

Nov

-201

7

Feb-

2018

May

-201

8

Aug-

2018

Nov

-201

8

Feb-

2019

May

-201

9

Aug-

2019

Nov

-201

9

Feb-

2020

mill

ion

tonn

es

Metal Stockpiles at Cycle Lows(Base Metal Inventories)



Source: Bloomberg, December 31, 2018

- 17 -

World Class Portfolio of Resource Leaders

Sub-Sector Diversification Broad Resource Exposure

Portfolio Metrics*

Geographic Diversification Estimated by Harvest using Bloomberg & Company Data; For illustrative purposes only

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). The indicated rates ofreturn are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account income taxes payable by anysecurityholder that would have reduced returns. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may notbe repeated. Tax, investment and all other decisions should be made with guidance from a qualified professional. Certain statements included in this communication constitute forward-lookingstatements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. The forward-lookingstatements are not historical facts but reflect the Fund’s, Harvest and the Manager of the Fund’s current expectations regarding future results or events. These forward looking statements aresubject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, Harvest and the Manager of the Fundbelieves that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers arecautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes no obligation to update publicly orotherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.*Source: Bloomberg. Average statistics calculated based on portfolio weighted average. Dividend yield based on Bloomberg indicated 12 month yield of portfolios positions and does notrepresent the distribution yield paid to investors. P/E calculated based on Bloomberg consensus 12 month forward earnings estimates. Return on Equity (ROE) based on 5 year trailing averageROE. The above information is for illustrative purposes only, is estimated and unaudited. Distributions are paid to you in cash. If the Fund earns less than the amounts distributed, the difference isa return of capital.


Performance (%)

Average Market Capitalization:







CA$34B

26

6.93%

$0.20

$1.5222

3.08 %

14.57 %


2% Foreign Currency Forwards

(1)%

Chemicals38%

Metals & Mining45%

Paper & Forest

Products8%

Construction Materials

8%


2%


(1)%Australia

11%Canada

4%

Chile11%

Finland4%

Germany4%

Ireland4%Japan

4%South Africa4%

Sweden8%

Switzerland8%

United Kingdom11%

United States26%

Rares, Li, Co, U3O8, UF6.

Bulks

Steels

Base Metals

Strategic Resources

PreciousDivers. Chems

Spec Chems

Gases

Forestry & Paper

Construction Materials

Other


HRES -8.74 -14.39 -7.93 -16.12 -17.81 -19.36 -18.94

- 18 -

2.1%

4.4%

3.3%3.8%

4.8%

6.0%

6.7%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%

5.5%

6.0%

6.5%

7.0%

7.5%

S&P 500 Avg Portfolio Yield(Net)

S&P/TSX MSCI WorldUtilities

MSCI WorldTeleCom

MSCI World Oil &Gas Storage &

Transport

Harvest EWGlobal UtilitiesIncome ETF

(HUTL)

Yiel

d

• Global utility and related sectors are considered defensive with attractive income streams

• Utilities have offered low correlations and lower volatility compared to broad markets

• Sectors offer sustainable cash flows driven by the necessity of every day consumer use

• Monopolistic industries reduce competitive threats and allow for consistent cash flows

• Opportunity for predictable and non-cyclical long-life income streams

• Equally weighted to reduce capitalization effect

• Globally diversified – reduces both regional / geographic and stock specific risks

• Covered call strategy to enhance income

Investment Highlights

Fund Facts

Portfolio Metrics*

TSX Ticker:

CUSIP:

Inception Date:


Distribution Method:

Management Fee:

Currency:

Risk Rating:

HUTL

41754C105

01/07/2019

Monthly

Cash

0.50%

Hedged to CAD

Low to Medium

The Harvest Equal Weight Global Utilities Income ETF invests in a portfolio of 30 Global Utilities

Issuers selected from a diverse universe of companies in the Utilities, Telecommunication

Services, Oil & Gas Storage and Transportation sub-sectors. The portfolio is equally weighted

and follows a systematic process in selecting the top 30 largest Global Utility Issuers measured

by market capitalization that meet specific dividend characteristics from the Universe. The Fund

uses a covered call strategy as a tool to generate additional income and pays a fixed monthly

distribution.

Harvest views the Global Utilities Issuers sectors as defensive and an opportunity for portfolio

and income diversification.

Global Utility Issuers Offer Attractive Income

Low Correlations with Markets

Consistent Cash Flows

Low Volatility Metrics

High Income


Average Market Capitalization: CA$66B

Number of Equity Securities: 30

Current Yield (Class A): 6.73%

Recent Distribution per unit: $0.117

Total Distribution (Class A - Since Inception): $1.3992

Average Portfolio Dividend Yield: 4.39 %


- 19 -

World Class Portfolio of Utility Companies

Sub-Sector Allocation

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). Please read the relevantprospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made withguidance from a qualified professional. Certain statements included in this communication constitute forward-looking statements, including, but not limited to, those identified by the expressions"expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. The forward-looking statements are not historical facts but reflect the Fund’s, Harvest and theManager of the Fund’s current expectations regarding future results or events. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results orevents to differ materially from current expectations. Although the Fund, Harvest and the Manager of the Fund believes that the assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherentuncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as aresult of new information, future events or other such factors which affect this information, except as required by law. *Source: Bloomberg. Average statistics calculated based on portfolio weightedaverage.


Geographic Allocation


2%


(1)%Oil, Gas &

Consumable Fuels16%

Diversified Telecommunication

34%

Wireless Telecommunication Services

3%

Electric Utilities

26%

Gas Utilities3%

Multi-Utilities17%

Performance (%)

As of February 29, 2020 1 Month 3 Month 6 Month YTD 1 Year SI

HUTL -7.08 -3.12 0.56 -4.04 7.35 9.49


2%


(1)%Canada

20%

France7%

Germany7%

Finland3%

Norway3%

Spain10%

Sweden3% Switzerland

3%

United Kingdom10%

United States33%

- 20 -

-40%

-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Dec

-15

Jan-

16Fe

b-16

Mar

-16

Apr-1

6M

ay-1

6Ju

n-16

Jul-1

6Au

g-16

Sep-

16O

ct-1

6N

ov-1

6D

ec-1

6Ja

n-17

Feb-

17M

ar-1

7Ap

r-17

May

-17

Jun-

17Ju

l-17

Aug-

17Se

p-17

Oct

-17

Nov

-17

Dec

-17

Jan-

18Fe

b-18

Mar

-18

Apr-1

8M

ay-1

8Ju

n-18

Jul-1

8Au

g-18

Sep-

18O

ct-1

8N

ov-1

8D

ec-1

8Ja

n-19

Feb-

19M

ar-1

9Ap

r-19

May

-19

Jun-

19Ju

l-19

Aug-

19Se

p-19

Oct

-19

Nov

-19

Dec

-19

Jan-

20Fe

b-20

Gold (USD) Solactive Global Gold Giants Index

• The top 20 dominant, large capitalization global gold companies

• Low cost, passively managed index

• Proven survivors & consolidators through the cycle

• Equally weighted to reduce capitalization effect

• Down cycle in gold has resulted in sector becoming more efficient & shareholder friendly

• Leverage to gold in both rising and flat commodity environment

• Mid-late cycle opportunity for inflation & downside protection

Investment Highlights Fund Facts

The Harvest Global Gold Giants Index ETF provides investors with a low-cost vehicle to access the world’s leading and largest gold

companies. Harvest believes these companies can maintain viable gold mining production in today’s gold price environment and are best

positioned to take advantage of higher gold prices in the future.

The Harvest Global Gold Giants Index ETF has been designed to replicate, to the extent possible, the performance of the Solactive Global

Gold Giants Index TR (the “Index”), net of expenses. The Fund intends to invest in and hold the Constituent Securities of the Index in the

same proportion as they are reflected in the Index.

Historical Index Performance amid Consolidating Gold Price


TSX Ticker:

CUSIP:

Inception Date:

Currency:

Management Fee:

Risk Rating:

Average Market Capitalization:


Security Weight:

HGGG

41755C104

01/07/2019

Unhedged

0.40%

High

CA$13B

20

Equally


- 21 -

Index Methodologies

World Class Portfolio of Gold Companies

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). Please read the relevantprospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made withguidance from a qualified professional. Certain statements included in this communication constitute forward-looking statements, including, but not limited to, those identified by the expressions"expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. The forward-looking statements are not historical facts but reflect the Fund’s, Harvest and theManager of the Fund’s current expectations regarding future results or events. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results orevents to differ materially from current expectations. Although the Fund, Harvest and the Manager of the Fund believes that the assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherentuncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as aresult of new information, future events or other such factors which affect this information, except as required by law. *Source: Bloomberg. Average statistics calculated based on portfolio weightedaverage.

Solactive IndicesThe financial instrument is not sponsored, promoted, sold or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either withregard to the results of using the Index and/or Index trade name or the Index Price at any time or in any other respect. The Index is calculated and published by Solactive AG. Solactive AG uses itsbest efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards the Issuer, Solactive AG has no obligation to point out errors in the Index to third parties includingbut not limited to investors and/or financial intermediaries of the financial instrument. Neither publication of the Index by Solactive AG northe licensing of the Index or Index trade name for thepurpose of use in connection with the financial instrument constitutes a recommendation by Solactive AG to invest capital in said financial instrument nor does it in any way represent an assuranceor opinion of Solactive AG with regard to any investment in this financial instrument.

Geographic Allocations

The Solactive Global Gold Giants Index TR intends to track the

price movements of the 20 largest gold mining companies by

company market capitalization that are listed on a regulated

stock exchange in North America, Australia or in certain

European countries.

The Index is reconstituted and rebalanced quarterly. Following each

reconstitution, the Index will be rebalanced to equal weight. The

Index is an Index of Solactive AG and is calculated and distributed by

Solactive AG.



1% United States10%

Canada54%

United Kingdom

15%

Australia20%

Performance(%)

As of February 29, 2020 1 Month 3 Month 6 Month YTD 1 Year SI

HGGG -6.77 1.94 -7.81 -3.07 17.35 17.59

- 22 -

• Unique Index Portfolio: Balance of Large Cap and Dedicated Blockchain issuers. Portfolio

rebalances quarterly and over time will formulaically adjust to heavier weighting in emerging

Blockchain issuers as market cap grows and industry evolves.

• Diversified: Established technology firms, payment providers, crypto miners, consultants and

financial areas.

• Capital Appreciation Opportunity: 100% long equity. Appreciation linked to the growth of the

Harvest Blockchain Technologies Index.

• Currency: Canadian dollar, unhedged.

• Fee: 0.65% management fee.


Fund Facts

Portfolio Metrics*

TSX Ticker:

CUSIP:

Inception Date:

Currency:

Management Fee:

Risk Rating:

HBLK

09369T102

01/31/2018

Unhedged

0.65%

High

Source: Acccenture Research

Blockchain is a decentralized and distributed digital ledger that facilitates recording data and

transactions in an unalterable database. It enables transactions to be validated without a

centralized intermediary while maintaining a high level of security. The technology is expected to

have a disruptive impact across global systems, transforming how governments, institutions,

businesses and individuals interact and transact.

HBLK tracks the Harvest Blockchain Technologies Index which invests in a cross section of Large

Cap established companies and Dedicated businesses that are primarily involved in blockchain

technology services.

Harvest Blockchain Technologies IndexThe primary stock index, the Harvest Blockchain Technologies Index, tracks the leading public companies

with business activities focused on the blockchain industry in North America. The Harvest Blockchain

Technologies Index is broken down into two separate segments: Large Cap Blockchain and Dedicated

Blockchain. The Index is intended to represent the broad landscape of publicly listed blockchain technology

companies. Given the developing nature of the technology, the Index is designed to transition from a

combination of both Large Cap Technology Blockchain and Dedicated Blockchain issuers into being

focused exclusively on the Dedicated Blockchain segment, as this sector evolves and gains critical mass.

Projected Blockchain Adoption Blockchain Is Changing Our World

Source: ACI Worldwide


Total portfolio holdings:

Dedicated Blockchain holdings:

Dedicated weight

(market cap weighted):

Dedicated weighted average

market cap:

Large cap holdings:

Large cap weight

(equally weighted):

Large cap weighted average

market cap:

Cash and other assets:

21

11

54%

CA$2.76B

10

45%

CA$363B

1%

- 23 -

Harvest Blockchain Technologies Index - Evolution

Technological Evolution

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). Please read the relevantprospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take intoaccount income taxes payable by any securityholder that would have reduced returns. The funds are not guaranteed, their values change frequently and past performance may not be repeated.Tax, investment and all other decisions should be made with guidance from a qualified professional. Certain statements included in this communication constitute forward-looking statements,including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. The forward-looking statements arenot historical facts but reflect the Fund’s, Harvest and the Manager of the Fund’s current expectations regarding future results or events. These forward looking statements are subject to a number ofrisks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, Harvest and the Manager of the Fund believes that the assumptionsinherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue relianceon such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes no obligation to update publicly or otherwise revise any forward-lookingstatement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. *Source: Bloomberg. Average statisticscalculated based on portfolio weighted average. The above information is for illustrative purposes only, is estimated and unaudited.


Blockchain Technologies ETF Holdings

Dedicated Established

Performance (%)


HBLK -5.13 -0.25 2.07 -0.75 -5.54 -20.53 -20.01

- 24 -


Fund Facts

Portfolio Metrics*

TSX Ticker:

CUSIP:

Inception Date:


Distribution Method:

Currency:

Risk Rating:

HUIB

41755K106

January 07, 2020

Monthly

Cash

CAD/Hedged

Low

The Harvest US Investment Grade Bond Plus ETF’s primarily invests in an actively managed

portfolio of US Investment Grade Bonds. Amundi Pioneer is a leading global fixed income

manager with a team of dedicated US fixed income specialists, an award winning ESG

screening approach and is the sub-advisor to the ETF. The ETF pays a monthly distribution

based on the Yield to Maturity.

Sub-Advisor Profile

• A Core Fixed Income Solution

• US Investment Grade Corporate Bonds with Low Equity Market Correlation

• Actively Managed by a Dominant Fixed Income Manager

• Leading Global ESG Screening (SRI Approach certified by Anfor)

• Focus on credit analysis versus duration bet

• BBB+ Average Portfolio Rating Required

• Low Risk Rating (ETF Facts)

Amundi*

Global AUM:

*Figures as of June 30,2019

Daily Market and Research MeetingsWeekly Fixed Income MeetingWeekly Sector ReviewsMonthly Group Meetings

Fixed Income PlatformPortfolio Management

Global Economic and StrategyGlobal Credit and Equity Research

Fundamental Credit ResearchQuantitative Analysis and Modeling

iPortal Platform

Communication Forums

Research

Global Investment

Team

Proven Asset Managers

US$1,693 B

US$51.5 B Amundi Pioneer

US Fixed Income AUM:

US Credit Analysts:

ESG Analysts:

US Credit

Portfolio Managers:4

10

18

The Harvest US Investment Grade Bond Plus ETF’s investment objective is to provide

Unitholders with monthly cash distributions and the opportunity for capital appreciation by

investing primarily in investment grade corporate debt issued by United States corporations.

* Initial monthly distribution to commence Feb 28, 2020 record date


HUIB Current Distribution Yield:* 3.18%

Distribution Frequency: Monthly

Portfolio Yield to Maturity: 2.89%

Portfolio Coupon: 4.18%

Duration: 8.2

Number of Securities: 127

Management Fee: 0.48%

Portfolio Average Rating BBB+

- 25 -

Portfolio & Credit Selection Process

Award Winning Proprietary ESG Screening

Commissions, management fees and expenses all may be associated with investing in HARVEST Exchange Traded Funds (managed by HarvestPortfolios Group Inc.). Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently andpast performance may not be repeated. Tax, investment and all other decisions should be made with guidance from a qualified professional.Certain statements included in this communication constitute forward-looking statements, including, but not limited to, those identified by theexpressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. The forward-looking statements arenot historical facts but reflect the Fund’s, Harvest and the Manager of the Fund’s current expectations regarding future results or events. Theseforward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially fromcurrent expectations. Although the Fund, Harvest and the Manager of the Fund believes that the assumptions inherent in the forward-lookingstatements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not toplace undue reliance on such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes noobligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future eventsor other such factors which affect this information, except as required by law.

Portfolio Statistics

Portfolio Breakdown by Sector

Portfolio Breakdown by Credit Rating

Portfolio Breakdown by Maturity


2%2%

25%64%

7%0%

0% 20% 40% 60% 80%

AAAAA

ABBB

BBB

% of Assets Portfolio

1%2%

13%1%1%

13%0%

3%3%

5%3%

4%10%

18%0%

7%3%

11%1%

2%0% 5% 10% 15% 20%

CashAgency - Gov't Owned

Financials - BankingFinancials - Brokerage

Financials - Finance CompaniesFinancials - Insurance

Financials - Other FinancialFinancials - REITs

Industrial - Basic IndustryIndustrial - Capital Goods

Industrial - CommunicationsIndustrial - Consumer Cyclical

Industrial - Consumer Non-CyclicalIndustrial - Energy

Industrial - Other IndustrialIndustrial - Technology

Industrial - TransportationUtility - Electric

Utility - Natural GasUtility - Other Utility


15%18%

13%19%

13%22%

0% 5% 10% 15% 20% 25%

0-3 years3-5 years5-7 years

7-10 years10-20 years

20+ years


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Harvest Portfolios Group

Call Option Writing Strategy

The Harvest option strategy draws upon years of extensive experience in option writing and equity investing. The number one purpose of the strategy is to create tax advantaged income for a fund through an active covered call writing process. The tax advantage is due to the premium income created by the call writing being treated as capital gains.

A second peripheral benefit of the call option writing strategy is a reduction of the fund’s volatility since the portion of equities that have been written on, have the downside protection of the premium collected. For example, when the fund buys a stock at $50 per share and sells a call option that pays a premium of $2 per share, if the stock price declines, the fund is $2 per share ��

1. Flexible Write Mandate: Harvest may choose to write on all names, a select few or none if market conditions warrant, which is rarely expected to be the case. Not all equities move in unison and at times ��news related to a corporate announcement or expected announcement can move an equity’s price. In speci�c sectors we observe this type of individual price movement and therefore can avoid writing on an equity if warranted.

2. Flexible Write Level: Harvest can write up to 33% on any individual equity in the fund. Harvest can choose to write less on an individual position, this ��gives the portfolio manager the ability to judge the current volatility of the individual equities in the portfolio.

3. Flexible Multiple Strike Levels: Harvest can write several options on an individual equity at ��strike prices through the month. This is usually implemented when an equity is experiencing strong short term upward price movement providing higher premium income and an opportunity for the fund to capitalize on a short term pull back on the price of the equity.

4. Flexible Timing: Harvest is not required to enter into new option positions immediately following the latest expiry. Instead, the strategy allows positions to be entered into, in whole or in part, at any time during the expiry period. In conjunction with the use of multiple strike levels this allows for a tactical approach to maximizing capital appreciation while receiving option premiums.

There are four components to the Harvest call writing strategy which are important in helping the fund achieve its income objective while leaving as much “upside” potential as possible for capital appreciation. It is Harvest’s objective to ensure the fund has a long bias at all times due to our underlying philosophy that wealth is created over the long term by owning great businesses, growing with them over time and collecting dividends. In order to generate attractive income, Harvest will write options to supplement the dividends being collected and pay that income out to the unitholders on a consistent basis.

Active and Flexible

Option Writing Strategy

Flexible write level

Flexible multiple strike levels

Flexible write mandate

Flexible timing

Active & FlexibleGenerate tax advantaged

income and maximize capital appreciation.

up to

33%

1.866.998.8298 www.harvestportfolios.com

2019

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Post expiry analytics

Daily monitoring

Broad sub sector analysis

Review of market metrics and market volatility analysis

Monthly review of option strategy Buy back opportunities

Stock level analysis

Catalyst calendar; S-T Technicals; Multiple Option Chain Analysis

Portfolio level analysis

Assessment of option metrics in the overall portfolio

Net income requirements

Assessment of required write level given current market conditions

$

1.866.998.8298 www.harvestportfolios.com

Schedule of Harvest ETF’s with Call Options Strategies:

• Harvest Brand Leaders Plus Income ETF (HBF, HBF.U)

• Harvest Healthcare Leaders Income ETF (HHL, HHL.U)

• Harvest Tech Achievers Growth & Income ETF (HTA, HTA.U)

• Harvest Energy Leaders Plus Income ETF (HPF, HPF.U)

• Harvest Global REIT Leaders Income ETF (HGR)

• Harvest US Bank Leaders Income ETF (HUBL, HUBL.U)

• Harvest Global Resource Leaders ETF (HRES)

• Harvest Equal Weight Global Utilities Income ETF (HUTL)

The objective of the Harvest covered call strategy is to provide the necessary income required to meet the monthly distribution obligations for the fund. The portfolio manager (PM), using proprietary models, will assess the cash ��needs based on the required monthly distribution less current dividend yields. At this point the PM will assess the various positions, events that are in play, the volatility on the individual positions and corresponding premiums in order to write the required amount of options to generate the premium income.

The positions will be monitored, in some cases bought back when short term ��can be attained, left to expire and in cases where the market is very strong, possibly get called away on a position. The offset to getting called away is that the underlying position has moved up considerably and the premium remains in the fund. If the position rolls back, the options will expire worthless allowing the fund to maintain both the stock position and premium received.

Harvest’s active covered call strategy generates attractive income by enhancing the natural dividend yield of the portfolio and may reduce some of the volatility associated with equity investing. The maximum 33% write level ensures that the majority of the portfolio remains exposed to the market and tethered to the growth of great businesses.

Monetizing Returns


Monthly Option Process

Commissions, management fees and expenses all may be associated with investing in Harvest investment funds. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the relevant prospectus before investing. Tax, investment and all other decisions would be made with guidance from a qualifed professional. The above is for general information purposes only and does not constitute advice or a solicitation to buy or sell the securities referred to within.

2019

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Darren GazdagVice President National [email protected]

Alberta & Saskatchewan Cliff Cassidy Managing Director403.710.1415 [email protected]

British ColumbiaJulie Wright Managing Director604.836.8051 [email protected]

National Canada

Ontario West & Manitoba David Wysocki Managing Director416.873.0055 [email protected]

QuebecRafael Turcotte Managing [email protected]

Ontario East & Atlantic Canada Jack Ng Managing Director416.712.0507 [email protected]


1.866.998.8298harvestportfolios.comHead Office610 Chartwell Rd, Suite 204 Oakville, Ontario L6J 4A5

Sales Support Michael Kapitan416.649.4541 ext 5122 [email protected]

Brad McMillan416.649.4541 ext 5120 [email protected]

Dan Mark416.649.4541 ext 5121 [email protected]

Matthew [email protected]

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HarvestETFs.com1.866.998.8298

harvest exchange traded funds investment products · hul hul.u equity income / us equity...

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