GUTB.U Guardian Ultra Short US T Bill Fund

Guardian Capital LP ("Guardian Capital") today announced a revision to the annual special year-end distributions (the "Special Distributions") for the 2023 tax year for the ETF series of Guardian Directed Equity Path Portfolio (TSX: GDEP, GDEP.B), Guardian Canadian Bond Fund (TSX: GCBD) and Guardian Ultra-Short U.S. T-Bill Fund (TSX: GUTB.U) (the “Guardian Capital ETFs”). Please note that this is an update to the annual special year-end distributions for the Guardian Capital ETFs and supersede the amounts previously announced on December 29, 2023.

Guardian Capital ETFs	Series of ETF Units	TSX Trading Symbol	Revised Special Distribution Amount (per ETF Unit)
Guardian Canadian Bond Fund	ETF Units	GCBD	CAD$0.0078
Guardian Directed Equity Path Portfolio	Hedged ETF Units	GDEP	CAD$0.1054
Guardian Directed Equity Path Portfolio	Unhedged ETF Units	GDEP.B	CAD$0.0562
Guardian Ultra-Short U.S. T-Bill Fund	ETF Units	GUTB.U	US$0.3802

All other dates and information, including the applicable record date, relating to the annual special year-end distributions previously communicated in Guardian Capital’s December 29, 2023 press release remain unchanged. The Special Distributions were not paid in cash, but were reinvested and the resulting ETF units immediately consolidated so that the number of ETF units held by each investor did not change. Investors holding their ETF units outside registered plans will have taxable amounts to report and will have an increase in the adjusted cost base of their investment.

The actual taxable amounts of all distributions for 2023, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") and will be posted on the Guardian Capital website in early 2024.

For further information regarding the Guardian Capital ETFs, please visit www.guardiancapital.com/investmentsolutions.

About Guardian Capital LPGuardian Capital LP is the manager and portfolio manager of the Guardian Capital Funds and Guardian Capital ETFs, with capabilities that span a range of asset classes, geographic regions and specialty mandates. Additionally, Guardian Capital LP manages portfolios for institutional clients such as defined benefit and defined contribution pension plans, insurance companies, foundations, endowments and investment funds. Guardian Capital LP is a wholly owned subsidiary of Guardian Capital Group Limited and the successor to its original investment management business, which was founded in 1962. For further information on Guardian Capital LP, please call 416-350-8899 or visit www.guardiancapital.com.

About Guardian Capital Group LimitedGuardian Capital Group Limited (“Guardian”) is a global investment management company servicing institutional, retail and private clients through its subsidiaries. As at September 30, 2023, Guardian had C$56.2 billion of total client assets while managing a proprietary investment portfolio with a fair market value of C$1.28 billion. Founded in 1962, Guardian’s reputation for steady growth, long-term relationships and its core values of authenticity, integrity, stability and trustworthiness have been key to its success over six decades. Its Common and Class A shares are listed on the Toronto Stock Exchange as GCG and GCG.A, respectively. To learn more about Guardian, visit www.guardiancapital.com.

For further information, please contact: Angela ShimAShim@guardiancapital.com

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase Guardian Capital ETFs and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Commissions, management fees and expenses all may be associated with investments in the Guardian Capital ETFs. Please read the prospectus before investing. For exchange-traded funds (“ETFs”) other than money market funds, unit values change frequently. ETFs are not guaranteed and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on the Toronto Stock Exchange (“TSX”). If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. ETF and mutual fund securities, including units of the Guardian Capital ETFs, are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the Guardian Ultra-Short Canadian T-Bill Fund or the Guardian Ultra-Short U.S. T-Bill Fund will be able to maintain the net asset value per unit of the mutual fund units at a constant amount or that the full amount of your investment in these money market funds will be returned to you.

All trademarks, registered and unregistered, are owned by Guardian Capital Group Limited and are used under license.