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ProFunds Announces Mutual Fund and VP Fund Share Splits

Bethesda, MD – November 17, 2020 – ProFunds, a leader in leveraged and inverse fund investing, announced today forward and reverse splits on the ProFunds and VP funds listed below. The forward and reverse splits will not change the value of a shareholder’s investment.

ProFunds Mutual Fund Reverse Splits

Six funds will reverse split at the following split ratios:

Fund Name Investor Class Ticker Service Class Ticker Split Ratio
UltraShort Nasdaq-100 USPIX USPSX 1:8
Oil Equipment & Services UltraSector OEPIX OEPSX 1:4
UltraShort Dow 30 UWPIX UWPSX 1:4
UltraShort Emerging Markets UVPIX UVPSX 1:4
UltraShort International UXPIX UXPSX 1:4
UltraBear URPIX URPSX 1:4

ProFunds VP Fund Reverse Splits

Four funds will reverse split at the following split ratios:

Fund Name Split Ratio CUSIP
VP UltraBull 1:4 743185712
VP UltraShort Nasdaq-100 1:4 743185613
VP Short Small-Cap 1:4 74318A661
VP UltraShort Dow 30 1:5 74318X794

All reverse splits will apply to shareholders of record as of the close of the markets on December 11, 2020. The funds will trade at the post-split prices on December 14, 2020. The ticker symbols and CUSIP numbers for the funds will not change.

The reverse splits will increase the price per share of each fund with a proportionate decrease in the number of shares outstanding. For example, for a 1-for-5 reverse split, every five pre-split shares held by a shareholder will result in the receipt of one post-split share, which will be priced at five times the net NAV of a pre-split share.

Illustration of a Reverse Split

The following table shows an example of the effect or a hypothetical 1-for-5 split:

# of Shares Owned Hypothetical NAV per Share Value of Shares
Pre-Split 1,000 $6.00 $6,000.00
Post-Split 200 $30.00 $6,000.00

ProFunds Mutual Fund Forward Splits

Three funds will split at the following split ratios:

ProFund Investor Class Ticker Service Class Ticker Split Ratio
Internet UltraSector INPIX INPSX 2:1
UltraNasdaq-100 UOPIX UOPSX 2:1
Consumer Goods UltraSector CNPIX CNPSX 2:1

ProFunds VP Fund Forward Split

The following VP fund will split at the following ratio:

ProFund VP Split Ratio CUSIP
UltraNasdaq-100 2:1 743185647

The forward split will apply to shareholders of record as of the close of the markets on December 11, 2020. The fund will trade at its post-split price on December 14, 2020. The ticker symbol and CUSIP number for the fund will not change.

The split will decrease the price per share of the fund with a proportionate increase in the number of shares outstanding. For example, for a 3-for-1 split, every pre-split share held by a shareholder will result in the receipt of three post-split shares, which will be priced at one-third of the net asset value ("NAV") of a pre-split share.

Illustration of a Forward Split

The following table shows an example of the effect of a hypothetical 3-for-1 split:

# of Shares Owned Hypothetical NAV per Share Value of Shares
Pre-Split 100 $30.00 $3,000.00
Post-Split 300 $10.00 $3,000.00

About ProFunds

ProFunds, founded in 1997, is a premier provider of a diverse lineup of mutual funds offering trading flexibility to all shareholders. In addition to classic broad-market index funds, ProFunds offers leveraged and inverse funds that track a variety of broad market, sector and non-equity benchmarks. Together with ProShares, which launched the first U.S. leveraged and inverse exchange traded funds (ETFs) in 2006, ProFunds and its affiliates are global leaders in leveraged and inverse fund investing.

Media Contact:

Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com

Investor Contact

(888) 776-3637, ProFunds.com

Financial Professional Contact

(888) 776-5717, ProFunds.com