GWL Canadian Growth Equity II 75/100 (P)

July 31, 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 May 31, 2026)

Asset allocation (%)
	Name	Percent
	Canadian Equity	83.5
	Cash and Equivalents	8.5
	US Equity	6.9
	Income Trust Units	1.2
	Other	-0.1

Geographic allocation (%)
	Name	Percent
	Canada	89.0
	United States	9.8
	Bermuda	1.2

Sector allocation (%)
	Name	Percent
	Financial Services	29.3
	Basic Materials	14.3
	Energy	11.5
	Utilities	10.4
	Industrial Goods	8.6
	Cash and Cash Equivalent	8.5
	Industrial Services	5.8
	Technology	5.5
	Consumer Goods	3.5
	Other	2.6

Growth of $10,000 (since inception)

Period:

For the period 07/09/2018 through 07/31/2026 tr.with $10,000 CAD investment, The value of the investment would be $17,664

Fund details (as of May 31, 2026)

Top holdings (%)
Top holdings	Percent (%)
Royal Bank of Canada	10.5
Cash and Cash Equivalents	5.6
Suncor Energy Inc	5.3
Canadian Imperial Bank of Commerce	5.2
Shopify Inc Cl A	4.4
Canadian Pacific Kansas City Ltd	4.3
AltaGas Ltd	4.2
Manulife Financial Corp	3.8
National Bank of Canada	3.3
Goldman Sachs Group Inc	3.2
Total allocation in top holdings	49.8

Portfolio characteristics
Portfolio characteristics	Value
Standard deviation	10.95%
Dividend yield	1.59%
Yield to maturity	-
Duration (years)	-
Coupon	-
Average credit rating	Not rated
Average market cap (million)	$122,681.1

Understanding returns

Annual compound returns (%)

Short term
1 MO	3 MO	YTD	1 YR
0.85	7.33	9.72	25.26

Long term
3 YR	5 YR	10 YR	INCEPTION
18.96	10.80	-	7.31

Calendar year returns (%)

2025 - 2022
2025	2024	2023	2022
31.02	15.26	9.56	-10.79

2021 - 2018
2021	2020	2019	2018
15.34	-2.06	16.94	-

Range of returns over five years (August 01, 2018 - July 31, 2026)

Best return / Worst return
Best return	Best period end date	Worst return	Worst period end date
12.88%	Oct 2025	0.49%	Sep 2023

Summary
Average return	% of periods with positive returns	Number of positive periods	Number of negative periods
7.29%	100	37	0

Fund category

Canadian Equity

Inception date

July 09, 2018

Management expense ratio (MER)*

Fund management

Picton Mahoney Asset Management

Net assets (million)

Price

$17.66

Number of holdings

Minimum Investment

$100,000

Fund codes

FEL — CLGN065E

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 (P)

Summary

For the period 07/09/2018 through 07/31/2026 with $10,000 CAD investment

Total returns performance

76.64%

Last price

$17.66 CAD

as of market close 07/31/2026

Value of $10,000 investment

$17,664.01 CAD

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

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