General Disclosure Statement

This is an illustration of a simulated investment and assumes the portfolio holding(s) were purchased on the first day of the period indicated. Sales charges, including those required in the event of transfers between assets, are taken into account at the rates shown and may be higher or lower than what an investor would have actually paid had the investments been purchased then or now. The performance data represents past performance and is not indicative of future results. Principal value and investment returns will fluctuate, and an investor's shares/units when redeemed may be worth more or less than the original investment. Funds and equity holdings and segregated fund products are not CDIC-insured and are not guaranteed by a bank or any other financial institution. The investment(s) returns do not reflect active trading and do not necessarily reflect the results that might have been achieved by active management of the account.

The investment returns of other clients of the adviser may differ materially from the investment portrayed. The investment(s) returns do not necessarily reflect the deduction of all investment advisory fees. Client investment returns(s) may be reduced if additional fees are incurred.

This illustration may reflect the results of systematic investments and/or withdrawals. Systematic investment does not ensure a profit, nor does it protect the investor against a loss in a declining market. Also, systematic investing will not keep an investor from losing money if shares are sold when the market is down.

Investment Summary Graph

The investment summary graph plots the approximate market value of the security or portfolio over the investing horizon. It may also include the total investment assumed in the illustration and/or a benchmark. Total investment includes dollar inflows and outflows, including inflows representing noted taxes and wrap fees paid out of pocket. If a benchmark index is included on a graph, it assumes a similar pattern of investment/withdrawal as for the security or portfolio. Taxes and transaction costs are not applied to the benchmark index. Note that direct investment in an index is not possible. Indexes are unmanaged portfolios representing different asset classes, with varying levels of associated risk. The benchmark index included in the graph may or may not represent an appropriate or accurate comparison with the security or portfolio illustrated.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The prospectus contains important information on each fund, including its investment objective, purchase options, and applicable charges. The indicated rates of return are historical annual compounded total returns including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. There can be no assurances that any fund will achieve its investment objectives, and its net asset value, yield and investment return will fluctuate from time to time with market conditions. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The historical information and data contained herein are not intended to represent the actual performance of your personal investment portfolio over any given time period and may not be used for this purpose. They are intended for illustration and comparison purposes only and should not be construed to be legal or tax advice. Please consult your own legal and tax advisor. Inflation and tax rates are not factored into these illustrations. Historical and benchmark trends are not necessarily reliable indicators of future trends and no comment herein is intended to portray future conditions or performance.

Portfolio Snapshot Report Disclosure Statement

Investment portfolios illustrated in this report have the user input the portfolio holdings, initial investment amount, start and end dates and amount for all subsequent investments into and withdrawals from each holding, as well as tax rates, loads, and other factors that would have affected portfolio performance.

The portfolios are theoretical and are for illustrative purposes only, and are not reflective of an investor's actual experience. The performance data given represents past performance and should not be considered indicative of future results. Average Fund MER is a weighted average calculation based on reported management expense ratios of the underlying retail, F-class, segregated, and exchange traded fund investments in the portfolio. All other non-applicable security types, as well as, funds for which management expense ratio data is not available, are excluded from the weighted calculation. Estimated Annual Fund Expense is the sum of all available calculated expenses paid for individual fund investments in the portfolio. Principal value and investment return of stocks and mutual funds will fluctuate, and an investor's shares/units when redeemed will be worth more or less than the original investment. Stocks, mutual funds, and variable annuity/life products are not CDIC-insured, may lose value, and are not guaranteed by a bank or other financial institution. Portfolio statistics change over time.

When used as supplemental sales literature, the Portfolio Snapshot report must be preceded or accompanied by the fund/policy's current prospectus or equivalent. In all cases, this disclosure statement should accompany the Portfolio Snapshot report. The information in this report contains or is derived from the most recent information available to Morningstar from publicly available sources, the fund, third party providers and/or account information provided by your financial advisor, and all such information may or may not be an accurate reflection of current data. There is no assurance that the information will remain the same. Morningstar cannot and does not verify any of the information and Morningstar does not provide any warranty, express or implied, regarding or assume any liability in respect of the correctness, completeness or accuracy of such information.