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ProShares Leveraged and Inverse Treasury ETFs Change Benchmark

TTT, PST, TBF, UBT, TBT, TBX | October 13, 2016

ProShares Leveraged and Inverse Treasury ETFs Change Benchmark

ProShares, a premier provider of ETFs, announced today that eight of its Treasury ETFs will be changing their benchmarks from Bloomberg Barclays indexes to ICE indexes, effective after the market closes on or about Oct. 14, 2016. The components of each fund’s current and new index are substantially identical.

Index Change Details

Ticker	ProShares ETF Name	Current Index	New Index
TBF	Short 20+ Year Treasury	Bloomberg Barclays U.S. 20+ Year Treasury Bond Index	ICE U.S. Treasury 20+ Year Bond Index
UBT	Ultra 20+ Year Treasury
TBT	UltraShort 20+ Year Treasury
TTT	UltraPro Short 20+ Year Treasury
TBX	Short 7-10 Year Treasury	Bloomberg Barclays U.S. 7-10 Year Treasury Bond Index	ICE U.S. Treasury 7-10 Year Bond Index
UST	Ultra 7-10 Year Treasury
PST	UltraShort 7-10 Year Treasury
TBZ	UltraShort 3-7 Year Treasury	Bloomberg Barclays U.S. 3-7 Year Treasury Bond Index	ICE U.S. Treasury 3-7 Year Bond Index

About ProShares

ProShares helps investors to go beyond the limitations of conventional investing and face today's market challenges. ProShares strives to help investors build better portfolios by providing access to a wide variety of investment exposures and strategies delivered with the liquidity, transparency and cost effectiveness of ETFs. Our wide array of ETFs can help you reduce volatility, manage risk and enhance returns.

Investing involves risk, including the possible loss of principal. ProShares are generally non-diversified and entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Bonds generally will decrease in value as interest rates rise. Please see the summary and full prospectuses for a more complete description of risks.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.

“ICE U.S. Treasury 20+ Year Bond Index,” “ICE U.S. Treasury 7-10 Year Bond Index” and “ICE U.S. Treasury 3-7 Year Bond Index” are trademarks of Intercontinental Exchange, Inc. (“ICE”) and have been licensed for use by ProShares. ProShares have not been passed on by ICE as to their legality or suitability. ProShares based on ICE indexes are not sponsored, endorsed, sold or promoted by ICE or its affiliates, and they make no representation regarding the advisability of investing in ProShares, or the ability of the indexes to track general financial market performance. THIS ENTITY AND ITS AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE ICE INDEXES OR ANY DATA INCLUDED THEREIN. IN NO EVENT SHALL THIS ENTITY OR ITS AFFILIATES HAVE ANY LIABILITY FOR DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.”

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor.