Purpose Investments Inc. Announces Conversion of Purpose Floating Rate Income Fund Into an Open-End Fund

Purpose Investments Inc. (“Purpose”) confirmed that the previously announced plan to convert Purpose Floating Rate Income Fund (TSX:FLOT.UN) (the “Fund”) from a closed-end fund to an exchange-traded mutual fund on August 7, 2018 will be completed as planned. As part of the conversion, the Fund’s Class A units and Class U units will be renamed “ETF units” and “ETF non-currency hedged USD units”, respectively, and the trading symbol for the Class A units will change from “FLOT.UN” to simply “FLOT”. A new class of units designated as “ETF non-currency hedged CAD units” also will commence trading on the Toronto Stock Exchange under the symbol “FLOT.B”, and other classes of mutual fund units will become available for purchase under the Fund’s prospectus.

Existing unitholders of the Fund are not required to take any action in respect of the changes described above. As a result of the conversion, existing unitholders automatically will become holders of ETF units or ETF non-currency hedged USD units, as applicable.