For standardized returns and performance data current to the most recent month end, see above. Current performance may be lower or higher than the performance quoted. Your brokerage commissions will reduce returns. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund.

Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. The performance quoted represents past performance and does not guarantee future results. Investors should consider periodically monitoring their geared fund investments in light of their goals and risk tolerance. The more extreme these factors are, the more they occur together, and the longer your holding period while these factors apply, the more your return will tend to deviate. Larger index gains/losses and lower index volatility contribute to returns better than the Daily Target. Smaller index gains/losses and higher index volatility contribute to returns worse than the Daily Target. For any holding period other than a day, your return may be higher or lower than the Daily Target. While the Fund has a daily investment objective, you may hold Fund shares for longer than one day if you believe it is consistent with your goals and risk tolerance. This ProShares ETF seeks daily investment results that correspond, before fees and expenses, to -1x the daily performance of its underlying benchmark (the “Daily Target”). For specific tax advice, we recommend you speak with a qualified tax professional. Registered Investment Companies are required by the IRS to distribute substantially all of their income and capital gains to shareholders at least annually. ProShares may invest in financial instruments (including derivatives) that, in combination, should have daily price return characteristics similar to the fund's benchmark. RUSSELL 2000 INDEX SWAP BARCLAYS CAPITAL CITIBANK NA RUSSELL 2000 INDEX SWAP GOLDMAN SACHS INTERNATIONAL

RUSSELL 2000 INDEX SWAP BANK OF AMERICA NA RUSSELL 2000 INDEX SWAP MORGAN STANLEY & CO. E-MINI RUSS 2000 EQUITY INDEX 15/DEC/2023 RTYZ3 INDEX

Russell 2000 index