Exchange Bulletin

Vanguard FTSE All-World ex Canada Index ETF (VXC) To Trade On Toronto Stock Exchange


July 8, 2014

Vanguard FTSE All-World ex Canada Index ETF (the "Vanguard ETF") - An application has been granted for the original listing in the Industrial category of 100,000 units (the "Units") of the Vanguard ETF, all of which will be issued and outstanding upon completion of an initial public offering (the "Offering").

Listing of the Units will become effective at 5:01 p.m. on Monday, July 7, 2014 in anticipation of the Offering closing prior to the opening of business on Tuesday July 8, 2014. The Units will be posted for trading at the opening of business on, Tuesday, July 8, 2014 upon confirmation of the closing.

The Vanguard ETF is authorized to issue an unlimited number of Units, each of which represents an equal, undivided interest in the net assets of the Vanguard ETF. Units of the Vanguard ETF are being issued and sold on a continuous basis and there is no maximum number of Units that may be issued.

Registration of interests in, and transfers of, the Units will be made only through the book-entry only system of CDS Clearing and Depository Services Inc ("CDS"). Units must be purchased, transferred and surrendered for exchange or redemption only through a CDS Participant. All rights of a beneficial holder of Units of the Vanguard ETF ("Unitholder") must be exercised through, and all payments or other property to which such Unitholder is entitled will be made or delivered by, CDS or the CDS Participant through which the Unitholder holds such Units.

Additional information on the Units may be found in the prospectus dated June 16, 2014 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the Prospectus.

Stock Symbol: "VXC" CUSIP: 92202Y 10 8 Trading Currency: CDN$



Designated Market Maker: National Bank Financial Inc.
Other Markets: None.
Head Office Address: 155 Wellington Street West
Suite 3720
Toronto, Ontario
M5V 3H1
Email Address: info-canada@vanguard.com
Website: www.vanguardcanada.ca
Head Office Telephone Number: (416) 263-7100
Fax Number: (416) 263-7124
Investor Relations: David Hoffman
Tel: (610) 503-4724
Email: david_r_hoffman@vanguard.com

Chief Financial Officer: Thomas J. Higgins
Corporate Secretary: Catherine Chamberlain
Incorporation: The Vanguard ETF was established under the laws of the Province of Ontario on June 13, 2014 pursuant to a master declaration of trust executed by Vanguard Investments Canada Inc., as trustee.
Manager and Trustee: Vanguard Investments Canada Inc.
Transfer Agent & Registrar: State Street Trust Company Canada
Fiscal Year End: December 31
Nature of Business: The Vanguard ETF seeks to track, to the extent reasonably possible and before fees and expenses, the performance of a broad global equity index that focuses on developed and emerging markets, excluding Canada. Currently, this Vanguard ETF seeks to track the FTSE All-World ex Canada Index (or any successor thereto). It invests directly or indirectly primarily in large- and mid-capitalization stocks of companies located in developed and emerging markets, excluding Canada.
Distributions: Income distributions, if any, will be paid in cash and are expected to be paid quarterly. Cash distributions may include a return of capital. Capital gain distributions, if any, will be paid annually and will be automatically reinvested in additional Units. Immediately following such reinvestment, the number of Units outstanding will be consolidated so that the NAV per Unit following the capital gains distribution and reinvestment is the same as it would have been if the distribution had not been paid.
Initial Issuance of Units: Pursuant to the terms of the Prospectus, Units will be issued and sold on a continuous basis and there will be no maximum number of Units that may be issued. Units sold in connection with the Offering for the Vanguard ETF will amount to 100,000 Units at a price of $25.00 per Unit.