Frequently Asked Questions About Volatility Indexes

"Standard & Poor's,^®" "S&P,^®" "S&P 500,^®" "Standard & Poor's 500,^®" "S&P 500^® VIX^® Short-Term Futures IndexTM" and "S&P 500^® VIX^® Mid-Term Futures IndexTM" are products of S&P Dow Jones Indices LLC and its affiliates and have been licensed for use by ProShares. "S&P^®" is a registered trademark of Standard & Poor's Financial Services LLC ("S&P") and "Dow Jones^®" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. "VIX^®" is a trademark of the Chicago Board Options Exchange, Incorporated ("Cboe") and has been licensed for use by S&P Dow Jones Indices LLC. ProShares have not been passed on by S&P Dow Jones Indices, Cboe or their respective affiliates as to their legality or suitability. ProShares are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices, Cboe or their respective affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.