GWL Canadian Growth Equity II 75/100

September 30, 2026

This segregated fund invests primarily in Canadian stocks currently through the Counsel Canadian Growth mutual fund. On or about June 5, 2026, this fund's name changed to Canadian Growth Equity II from Canadian Small Cap Growth and Picton Mahoney Asset Management assumed portfolio management responsibilities from AGF Investments Inc.. With this change the segregated fund no longer invests directly in securities but invests in Counsel Canadian Growth fund and the risk rating changed from "Moderate to high" to "Moderate". The performance prior to the above dates were achieved under previous manager and/or investment strategy.

Is this fund right for you?

A person who is investing for the medium to longer term, seeking the growth potential of stocks and is comfortable with moderate risk.
Since the fund invests in stocks its value is affected by stock prices, which can rise and fall in a short period of time.

RISK RATING

How is the fund invested? (as of July 31, 2026)

Asset allocation (%)
	Name	Percent
	Canadian Equity	90.2
	Cash and Equivalents	6.3
	Income Trust Units	2.1
	US Equity	1.4

Geographic allocation (%)
	Name	Percent
	Canada	97.5
	United States	1.4
	Bermuda	1.2
	Other	-0.1

Sector allocation (%)
	Name	Percent
	Financial Services	30.5
	Energy	14.7
	Basic Materials	14.4
	Technology	7.3
	Industrial Services	7.2
	Cash and Cash Equivalent	6.3
	Consumer Services	6.1
	Industrial Goods	3.5
	Utilities	3.4
	Other	6.6

Growth of $10,000 (since inception)

Period:

For the period 10/05/2009 through 09/30/2026 tr.with $10,000 CAD investment, The value of the investment would be $20,834

Fund details

As of July 31, 2026

Top holdings (%)
Top holdings	Percent (%)
Royal Bank of Canada	9.0
Toronto-Dominion Bank	8.3
Canadian Dollars	6.4
Canadian Pacific Kansas City Ltd	3.9
Shopify Inc Cl A	3.8
Enbridge Inc	3.3
Canadian Natural Resources Ltd	3.0
National Bank of Canada	2.6
TC Energy Corp	2.5
Suncor Energy Inc	2.3
Total allocation in top holdings	45.1

As of July 31, 2026

Portfolio characteristics
Portfolio characteristics	Value
Standard deviation	10.88%
Dividend yield	1.91%
Yield to maturity	-
Duration (years)	-
Coupon	-
Average credit rating	Not rated
Average market cap (million)	$143,080.2

Understanding returns

Annual compound returns (%)

Short term
1 MO	3 MO	YTD	1 YR
-3.06	5.65	7.83	12.52

Long term
3 YR	5 YR	10 YR	INCEPTION
18.86	9.45	5.52	4.42

Calendar year returns (%)

2025 - 2022
2025	2024	2023	2022
29.59	14.02	8.42	-11.74

2021 - 2018
2021	2020	2019	2018
14.11	-3.16	15.66	-17.71

Range of returns over five years (November 01, 2009 - September 30, 2026)

Best return / Worst return
Best return	Best period end date	Worst return	Worst period end date
11.67%	Oct 2025	-5.23%	Feb 2016

Summary
Average return	% of periods with positive returns	Number of positive periods	Number of negative periods
2.39%	76	109	35

Fund category

Canadian Equity

Inception date

October 05, 2009

Management expense ratio (MER)*

3.36%

(December 31, 2024)

Fund management

Picton Mahoney Asset Management

Net assets (million)

$12.6

Price

$23.18

Number of holdings

104

Minimum Investment

$500

Fund codes

FEL — CLGM065E

DSC^ — CLGM065F

LSC — CLGM065H

Contact information

Customer service centre

Toll free: 1-800-665-5758

Corporate website

greatwestlife.com

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GWL Canadian Growth Equity II 75/100

Summary

For the period 10/05/2009 through 09/30/2026 with $10,000 CAD investment

Total returns performance

108.34%

Last price

$23.18 CAD

as of market close 09/30/2026

Value of $10,000 investment

$20,833.86 CAD

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ID	Effective date	Price ($)	Income	Capital gain	Total distribution

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