GUTB.U Guardian Ultra Short US T Bill Fund

Guardian Capital LP (Guardian Capital) is excited to announce the launch of the ETF series of Guardian Ultra-Short Canadian T-Bill Fund and Guardian Ultra-Short U.S. T-Bill Fund (the Guardian Funds), which are expected to commence trading on the Toronto Stock Exchange (TSX) when the market opens this morning.

These Guardian Funds are designed to provide investors with interest income and access to low-risk, high-quality cash alternatives by investing primarily in short-term Canadian and U.S. treasury bills, as applicable.

Guardian Fund	Investment Objective	Management Fee1	Administration Fee1	Distribution Frequency
Guardian Ultra-Short Canadian T-Bill Fund, ETF Units(TSX: GCTB)	To provide interest income to unitholders primarily through exposure to short-term treasury bills issued by the Government of Canada or a Canadian Province with remaining maturities of three months or less.	0.12%	0.02%	Monthly, if any
Guardian Ultra-Short U.S. T-Bill Fund, ETF Units2(TSX: GUTB.U)	To provide interest income to unitholders primarily through exposure to short-term treasury bills issued by the federal government of the U.S. with remaining maturities of three months or less.	0.12%	0.02%	Monthly, if any

1. Plus applicable taxes.
2. This Guardian Fund’s assets and liabilities, as well as its net asset value and distributions, are calculated in U.S. dollars. Units of this Guardian Fund are offered for purchase in U.S. dollars.

“With interest rates rising significantly over the past two years, cash and cash alternatives have once again become a very attractive asset class for investors looking to generate monthly income with low risk. One of the more efficient ways for investors to get this access is through ultra-short T-Bills, which currently pay attractive yields with low credit risk, as these are government-backed securities,” said Barry Gordon, Managing Director, Head of Retail Asset Management at Guardian Capital. “We’re excited to launch these two actively managed T-Bill funds, which provide exposure to ultra-short T-Bills with durations of generally less than six months, and will utilize the extensive depth of experience of our fixed income team with the goal of maximizing return opportunities within this asset class.”

Each Guardian Fund has closed its initial offering of ETF Units. In addition to ETF Units, each Guardian Fund offers Series A Mutual Fund Units, Series F Mutual Fund Units and Series I Mutual Fund Units (collectively, Units). Units of Guardian Ultra-Short Canadian T-Bill Fund are denominated in Canadian dollars, and Units of Guardian Ultra-Short U.S. T-Bill Fund are denominated in U.S. dollars.

For more details about the Guardian Funds, visit www.guardiancapital.com/investmentsolutions.

About Guardian Capital LP

Guardian Capital LP is the manager and portfolio manager of the Guardian Capital Funds and Guardian Capital ETFs, with capabilities that span a range of asset classes, geographic regions and specialty mandates. Additionally, Guardian Capital LP manages portfolios for institutional clients such as defined benefit and defined contribution pension plans, insurance companies, foundations, endowments and investment funds. Guardian Capital LP is a wholly owned subsidiary of Guardian Capital Group Limited and the successor to its original investment management business, which was founded in 1962. For further information on Guardian Capital LP, please call 416-350-8899 or visit www.guardiancapital.com.

About Guardian Capital Group Limited

Guardian Capital Group Limited (“Guardian”) is a global financial services company, which provides extensive investment management services to institutional, retail and private high and ultra-high-net worth clients through its subsidiaries. As at March 31, 2023, Guardian had C$56.3 billion of total client assets, while managing a proprietary investment portfolio with a fair market value of C$1.3 billion. Founded in 1962, Guardian’s reputation for steady growth, long-term relationships and its core values of trustworthiness, integrity and stability have been key to its success over six decades. Its Common and Class A shares are listed on the Toronto Stock Exchange as GCG and GCG.A, respectively. To learn more about Guardian, visit www.guardiancapital.com.

For further information, please contact:

Angela ShimAShim@guardiancapital.com

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase Guardian Funds and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Commissions, management fees and expenses all may be associated with investments in the Guardian Funds. Please read the prospectus before investing. You will usually pay brokerage fees to your dealer if you purchase or sell units of an exchange traded fund (“ETF”) on the Toronto Stock Exchange (“TSX”). If units of an ETF are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. ETF and mutual fund securities, including Units of the Guardian Funds, are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the Guardian Funds will be able to maintain the net asset value per unit of the Mutual Fund Units at a constant amount or that the full amount of your investment in the Guardian Funds will be returned to you. The values of ETF Units of the Guardian Funds change frequently. ETFs and mutual funds are not guaranteed and past performance may not be repeated.

All trademarks, registered and unregistered, are owned by Guardian Capital Group Limited and are used under licence.