Estimated Daily Value (EDV)

Date EDV

Although the net asset value (NAV) for the HIT is calculated on the last business day of each month, a bank collective trust that is a Participant in the HIT is required to calculate its own NAV on a daily basis. As a practical expedient to facilitate this process, the HIT’s custodian calculates the value of HIT’s portfolio on a daily basis based on inputs and fair value modeling from various sources. This information is combined with expense and unit holdings information to produce the Estimated Daily Value (EDV) shown above. While this process is intended to approximate the NAV of the HIT for the particular day, there can be no assurance that the EDV thus generated is the same as or will predict the NAV calculated by the HIT in accordance with its monthly valuation process as described in the HIT’s prospectus (“Valuation Process”). In addition, the value of the HIT’s assets may vary materially over the course of a month, particularly in periods of market volatility. The value of a Participant’s Units and the price at which a Unit may be redeemed is determined solely through the HIT’s Valuation Process. The EDV shown above is presented for informational purposes only, is not binding in any way upon the HIT, and should not be relied upon by Participants as an indication of the value of their Units.