EMPIRE LIFE ASSET ALLOCATION GIF

Class Q Guaranteed Investment Funds as of March 31, 2025

INVESTMENT MANAGEMENT Doug Cooper, CFA Ashley Misquitta, CFA Greg Chan, CFA Empire Life Investment Team	WHY INVEST IN THIS FUND You are seeking growth and income by investing in a tactical mix of primarily Canadian equity and fixed income securities, with a target equity allocation of 65%
FUND FACTS Asset Class Canadian Balanced Size (Mill) $1,166.91 MER 2.45 % Inception November 3, 2014 Total Holdings 539	RISK TOLERANCE low low to medium medium medium to high high
ASSET MIX Canadian Bonds 33.6 % Canadian Equities 29.0 % U.S. Equities 12.7 % International Equities 8.7 % U.S. Bonds 7.7 % Cash and Cash Equivalents 4.0 % Mutual Fund 3.9 % International Bonds 0.5 % SECTOR MIX Financials 25.0 % Industrials 15.7 % Information technology 14.6 % Energy 10.5 % Materials 7.8 % Consumer discretionary 7.0 % Consumer staples 6.7 % Communication services 4.3 % Health care 4.2 % Utilities 3.1 % Real Estate 1.1 %	GROWTH OF $10,000 For Illustration Purposes Only
TOP 10 HOLDINGS EMPIRE LIFE AMERICAN GROWTH GIF CLASS F 3.9 % Royal Bank of Canada 2.0 % ROYAL BK OF CAD 2.65% 01APR25 TD 1.9 % Brookfield Business Corporation Cl A Exchangeable Sub Vtg 1.3 % Lightspeed Commerce Inc. Sub Vtg Shs 1.2 % Toronto-Dominion Bank 1.2 % Agnico Eagle Mines Limited 1.1 % Gov. of Canada, 2%, 6/1/2032 1.0 % Microsoft Corporation 1.0 % Gov. of Canada, 2.75%, 6/1/2033 1.0 % Total of Top 10 15.7 %	COMPOUND ANNUAL RETURNS 1 mo 3 mo YTD 1 yr 3 yr 5 yr 10 yr Inception -2.35 -0.92 -0.92 5.07 3.28 8.73 3.85 4.55 CALENDAR YEAR RETURNS 2017 2018 2019 2020 2021 2022 2023 2024 6.14 -7.42 12.50 2.20 12.06 -6.08 7.39 9.19

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. ** 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.