ProShares Announces Reverse Share Splits for UltraShort Gold and Ultra VIX Short-Term Futures ETFs

Summary

On November 4, 2025, ProShares Trust II announced reverse share splits for ProShares UltraShort Gold (GLL) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). The reverse splits will be effective prior to the market open on November 20, 2025. For ProShares UltraShort Gold, the split ratio is 1-for-2, and for ProShares Ultra VIX Short-Term Futures ETF, it is 1-for-5. The splits will increase the price per share with a proportionate decrease in the number of shares outstanding. Fractional shares resulting from the splits will be redeemed for cash. A press release with further details is attached as Exhibit 99.1.