Evolve Announces Changes to Risk Rating for Evolve Global Materials & Mining Enhanced Yield Index ETF

TORONTO, July 21, 2022 /CNW/ - Evolve Funds Group Inc. ("Evolve") announces the following changes to the risk rating of the Evolve Global Materials & Mining Enhanced Yield Index ETF – Unhedged ETF Units (the "Evolve Fund") effective April 26, 2022, as indicated in the table below.

Evolve Fund	Ticker/Symbol	Previous Risk Rating	New Risk Rating
Evolve Global Materials & Mining Enhanced Yield Index ETF – Unhedged ETF Units	BASE.B	Medium to High	High

The investment risk level of an ETF and mutual fund (the "Fund") is determined in accordance with a standardized risk classification methodology, set out in National Instrument 81-102 Investment Funds, that is based on the historical volatility of the Fund, as measured by the 10-year standard deviation of the returns of the Fund. If a Fund has less than 10 years of performance history, the investment risk level of the Fund is calculated using the return history of the Fund, and, for the remainder of the 10-year period, the return history of a reference index that is expected to reasonably approximate the standard deviation of the Fund.

No changes have been made to the investment objectives or strategies of the Evolve Fund as a result of the changes to the risk rating. A summary of the risk rating classification methodology, and the investment objectives and strategies of the Evolve Fund, can be found in the most recently filed prospectus for the Evolve Fund, listed above.

For further information regarding the Evolve Fund, please visit www.evolveetfs.com

Commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds. ETFs and mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus for a complete description of risks relevant to ETFs and mutual funds. Investors may incur customary brokerage commissions in buying or selling ETF and mutual fund units. Please read the prospectus before investing.

About Evolve Funds Group Inc.

With over $2 billion in assets under management, Evolve is one of Canada's fastest growing ETF providers since launching its first ETF in September 2017.  Evolve is a leader in thematic ETFs and specializes in bringing disruptive innovation ETFs to Canadian investors.  Evolve's suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world's leading investment managers.  Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference.  For more information, please visit www.evolveetfs.com.

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