ProShares Announces ETF Share Splits

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

Forward Splits—Phase One

ProShares will implement forward splits for five ETFs in two phases, on two separate dates. Three ETFs will forward split shares at the following split ratios:

Ticker	ProShares ETF	Split Ratio
SPXE	ProShares S&P 500 Ex-Energy	2:1
SPXN	ProShares S&P 500 Ex-Financials	2:1
SPXV	ProShares S&P 500 Ex-Health Care	2:1

All forward splits in phase one will apply to shareholders of record as of market close on April 8, 2024, payable after market close on April 9, 2024. All forward splits will be effective prior to market open on April 10, 2024, when the funds will begin trading at their post-split prices. The ticker symbols and CUSIP numbers for the funds will not change.

Forward Splits—Phase Two

Two ETFs will forward split shares at the following split ratios:

Ticker	ProShares ETF	Split Ratio
KOLD	ProShares UltraShort Bloomberg Natural Gas	2:1
SVXY	ProShares Short VIX Short-Term Futures	2:1

Forward splits in phase two will apply to shareholders of record as of market close on April 9, 2024, payable after market close on April 10, 2024. All forward splits will be effective prior to market open on April 11, 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.