EMPIRE LIFE EMBLEM BALANCED PORTFOLIO GIF

Class L Guaranteed Investment Funds as of December 31, 2021

INVESTMENT MANAGEMENT Empire Life Investment Team	WHY INVEST IN THIS FUND You are seeking growth and income by investing primarily in equity and fixed income securities, with a target equity allocation of 50%
FUND FACTS Asset Class Portfolio Funds Size (Mill) $225.31 MER 2.86 % Inception November 3, 2014 Total Holdings 373	RISK TOLERANCE low low to medium medium medium to high high
ASSET MIX Canadian Bonds 40.7 % Canadian Equities 29.0 % U.S. Equities 12.8 % International Equities 10.6 % Cash and Cash Equivalents 7.0 % SECTOR MIX Financials 26.9 % Information technology 12.8 % Industrials 11.7 % Energy 9.5 % Consumer staples 8.4 % Communication services 8.2 % Consumer discretionary 7.7 % Health care 5.2 % Materials 4.7 % Utilities 2.7 % Real Estate 2.3 %	GROWTH OF $10,000 For Illustration Purposes Only
TOP 10 HOLDINGS Royal Bank of Canada 2.2 % HYDRO ONE INC 15MAR22 DN 2.0 % Toronto-Dominion Bank 2.0 % ROYAL BK OF CANADA 0.20% 04JAN22 TD 1.8 % Bank of Nova Scotia 1.7 % Brookfield Asset Management Inc. 'A' 1.5 % Alphabet Inc. Cap Stk Cl C 1.1 % Province of Ontario 4.700% June 2, 2037 1.1 % Bank of Montreal 1.1 % Enbridge Inc. 1.0 % Total of Top 10 15.6 %	COMPOUND ANNUAL RETURNS 1 mo 3 mo YTD 1 yr 3 yr 5 yr 10 yr Inception 2.59 2.53 6.18 6.18 6.51 3.13   3.29 CALENDAR YEAR RETURNS 2014 2015 2016 2017 2018 2019 2020 2021   1.93 4.07 4.28 -7.39 10.30 3.16 6.18

Empire Life will endeavour to ensure the information presented is accurate and updated, but will not be held liable for inaccuracies. A description of the key features of the individual variable insurance contract is contained in the Information Folder for the product being considered. Any amount that is allocated to a Guaranteed Investment Fund is invested at the risk of the contract owner and may increase or decrease in value. *Fund positioning/holdings are reflective of Emblem Balanced Portfolio Series I mutual fund*. ** Annual Compound Returns: Returns under 1 year are simple rates of return. All others are annual compound rates of return. All returns are calculated after taking expenses, management and administration fees into account. Past performance is no guarantee of future performance. ^® Registered Trademark of The Empire Life Insurance Company. Policies are issued by The Empire Life Insurance Company.