Arrow Capital Management Inc. Announces Unitholder Approval of Fund Merger

Toronto, ON

FOR IMMEDIATE RELEASE

Arrow Capital Management Inc. (the “Manager”) announced that at a special meeting of unitholders held on Tuesday, February 21, 2017, it received approval of the unitholders of Exemplar U.S. High Yield Fund, including the Series A unitholders voting separately as a class, to merge Exemplar U.S. High Yield Fund into Exemplar Growth and Income Fund (the “Merger”).