SMA Disclosures Link to Product Disclosure Statement Horizon Managed Portfolios PDS Links to Target Market Determinations TMD – Horizon 100% Defensive Portfolio TMD – Horizon Accumulation 60% Growth Portfolio TMD – Horizon Accumulation 100% Growth Portfolio TMD – Horizon Pension 60% Growth Portfolio TMD- Horizon Pension 100% Growth Portfolio Monthly Returns Horizon 100% Defensive Portfolio Horizon Accumulation 60% Growth Portfolio Horizon Accumulation 100% Growth Portfolio Horizon Pension 60% Growth Portfolio Horizon Pension 100% Growth Portfolio