Arrow Capital Management Inc. Announces Upcoming Fund Merger

Toronto, ON

FOR IMMEDIATE RELEASE

Arrow Capital Management Inc. (the “Manager”), as the manager of the Exemplar Leaders Fund (the “Terminating Fund”) and the Exemplar Growth and Income Fund (the “Continuing Fund” and along with the Terminating Fund collectively referred to as the “Merging Funds”), today announced the planned merger of the funds, subject to receipt of all necessary regulatory and unitholder approvals (the “Merger”).