EMPIRE LIFE MONTHLY INCOME GIF

Class L Guaranteed Investment Funds as of December 31, 2021

INVESTMENT MANAGEMENT Jennifer Law, CFA Ian Fung, CFA Empire Life Investment Team	WHY INVEST IN THIS FUND You are seeking growth and income by investing primarily in Canadian equity and fixed income securities.
FUND FACTS Asset Class Canadian Balanced Size (Mill) $35.66 MER 2.85 % Inception April 20, 2015 Total Holdings 192	RISK TOLERANCE low low to medium medium medium to high high
ASSET MIX Canadian Equities 50.5 % Canadian Bonds 33.4 % Cash and Cash Equivalents 8.5 % U.S. Equities 7.6 % International Equities 0.0 % SECTOR MIX Financials 34.3 % Energy 12.7 % Industrials 12.4 % Information technology 8.2 % Consumer staples 7.1 % Communication services 7.1 % Consumer discretionary 5.4 % Real Estate 5.3 % Utilities 4.5 % Materials 2.8 % Health care 0.2 %	GROWTH OF $10,000 For Illustration Purposes Only
TOP 10 HOLDINGS ROYAL BK OF CANADA 0.20% 04JAN22 TD 7.5 % Toronto-Dominion Bank 3.8 % Royal Bank of Canada 3.5 % Government of Canada 1.250% June 1, 2030 2.3 % Brookfield Asset Management Inc. 'A' 2.1 % Bank of Montreal 1.9 % Canadian Imperial Bank of Commerce 1.5 % Government of Canada 2.500% June 1, 2024 1.4 % Manulife Financial Corporation 1.4 % Alimentation Couche-Tard Inc. Multiple Vtg Sh 1.2 % Total of Top 10 26.8 %	COMPOUND ANNUAL RETURNS 1 mo 3 mo YTD 1 yr 3 yr 5 yr 10 yr Inception 3.20 4.58 12.31 12.31 8.44 4.52   3.84 CALENDAR YEAR RETURNS 2014 2015 2016 2017 2018 2019 2020 2021     6.71 4.33 -6.23 10.67 2.59 12.31

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.