ProShares Announces ETF Share Splits

ProShares, a premier provider of ETFs, announced today forward and reverse share splits on 22 of its ETFs. The splits will not change the total value of a shareholder’s investment.

Forward Splits

ProShares will implement forward splits for three ETFs at the following split ratios:

Ticker

ProShares ETF

Split Ratio

USD

ProShares Ultra Semiconductors

2:1

RXL

ProShares Ultra Health Care

2:1

YCS

ProShares UltraShort Yen

2:1

All forward splits will apply to shareholders of record as of market close on November 5, 2024, payable after market close on November 6, 2024. All forward splits will be effective prior to market open on November 7, 2024, when the funds will begin trading at their post-split prices. The ticker symbols and CUSIP numbers for the funds will not change.

The forward splits will decrease the price per share of each fund, with a proportionate increase in the number of shares outstanding. For example, for a two-for-one split, every pre-split share will result in the receipt of two post-split shares, which will be priced at one-half the net asset value (“NAV”) of a pre-split share.

Illustration of a Forward Split

The following table shows the effect of a hypothetical two-for-one forward split.

Period

# of Shares Owned

Hypothetical NAV

Value of Shares

Pre-Split

100

$120.00

$12,000.00

Post-Split

200

$60.00

$12,000.00

Reverse Splits

ProShares will implement reverse splits for 19 ETFs at the following split ratios:

Ticker

ProShares ETF

Split Ratio

Old CUSIP

New CUSIP

SMN

ProShares UltraShort Materials

1:2

74347G614

74347G226

SSG

ProShares UltraShort Semiconductors

1:5

74349Y860

74349Y779

EFU

ProShares UltraShort MSCI EAFE

1:2

74348A475

74349Y738

EPV

ProShares UltraShort FTSE Europe

1:5

74348A434

74349Y720

SDP

ProShares UltraShort Utilities

1:2

74347G721

74347G218

SQQQ

ProShares UltraPro Short QQQ

1:5

74347G432

74347G192

BITI

ProShares Short Bitcoin ETF

1:5

74347G291

74347G184

ZSL

ProShares UltraShort Silver

1:4

74347Y847

74347Y722

DUG

ProShares UltraShort Energy

1:4

74347G358

74347G176

TWM

ProShares UltraShort Russell2000

1:5

74347G689

74347G168

SEF

ProShares Short Financials

1:4

74347B185

74349Y761

EWV

ProShares UltraShort MSCI Japan

1:4

74348A459

74349Y712

SKF

ProShares UltraShort Financials

1:4

74347G382

74347G150

SH

ProShares Short S&P500

1:4

74347B425

74349Y753

SRS

ProShares UltraShort Real Estate

1:4

74347G556

74347G143

BOIL

ProShares Ultra Bloomberg Natural Gas

1:5

74347Y763

74347Y748

EUM

ProShares Short MSCI Emerging Markets

1:2

74347R396

74349Y746

VIXY

ProShares VIX Short-Term Futures ETF

1:4

74347Y789

74347Y730

SDOW

ProShares UltraPro Short Dow30

1:4

74347G648

74347G135

All reverse splits will be effective prior to market open on November 7, 2024, when the funds will begin trading at their post-split prices. The ticker symbols for the funds will not change. All funds undergoing a reverse split will be issued new CUSIP numbers, listed above.

The reverse splits will increase the price per share of each fund, with a proportionate decrease in the number of shares outstanding. For example, for a one-for-five reverse split, every five pre-split shares will result in the receipt of one post-split share, which will be priced five times higher than the NAV of a pre-split share.

Illustration of a Reverse Split

The following table shows the effect of a hypothetical one-for-five reverse split.

Period

# of Shares Owned

Hypothetical NAV

Value of Shares

Pre-Split

1,000

$10.00

$10,000.00

Post-Split

200

$50.00

$10,000.00

Fractional Shares from Reverse Splits

For shareholders who hold quantities of shares that are not an exact multiple of the reverse split ratios (for example, not a multiple of five for a one-for-five reverse split), the reverse splits will result in the creation of fractional shares. Post-reverse split fractional shares will be redeemed for cash and sent to your broker of record. This redemption may cause some shareholders to realize gains or losses, which could be a taxable event for those shareholders.

About ProShares

ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs, with over $75 billion in assets. The company is a leader in strategies such as crypto-linked, dividend growth, interest rate hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.

Some ProShares ETFs seek daily investment results that correspond, before fees and expenses, to a multiple (e.g., 2x or -2x) of the daily performance of its underlying benchmark (the “Daily Target”). While the Funds have a daily investment objective, you may hold a Fund’s shares for longer than one day if you believe it is consistent with your goals and risk tolerance. For any holding period other than a day, your return may be higher or lower than the Daily Target. These differences may be significant. Smaller index gains/losses and higher index volatility contribute to returns worse than the Daily Target. Larger index gains/losses and lower index volatility contribute to returns better than the Daily Target. The more extreme these factors are, the more they occur together, and the longer your holding period while these factors apply, the more your return will tend to deviate. Investors should consider periodically monitoring their geared fund investments in light of their goals and risk tolerance.

Investing involves risk, including the possible loss of principal. ProShares ETFs are generally non-diversified, and each entails certain risks, which may include risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Short positions lose value as security prices increase. Narrowly focused investments typically exhibit higher volatility. Investments in smaller companies typically exhibit higher volatility. Smaller company stocks also may trade at greater spreads or lower trading volumes, and may be less liquid than stocks of larger companies. Please see prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. Separate ProShares Trust II prospectuses are available for Volatility, Commodity, and Currency ProShares.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.

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MEDIA CONTACT Tucker Hewes 212-207-9451 [e-mail] INVESTOR CONTACT ProShares 866-776-5125