EMPIRE LIFE EMBLEM GLOBAL BALANCED PORTFOLIO GIF

Class L Guaranteed Investment Funds as of December 31, 2020

INVESTMENT MANAGEMENT Empire Life Investment Team	WHY INVEST IN THIS FUND You are seeking growth and income by investing primarily in global equity and fixed income securities, with a target equity allocation of 50%
FUND FACTS Asset Class Portfolio Funds Size (Mill) $58.66 Estimated MER (%)* 2.97 % Inception May 28, 2018 Total Holdings 395	RISK TOLERANCE low low to medium medium medium to high high
ASSET MIX Canadian Bonds 25.3 % US Bonds 22.5 % US Equity 20.5 % International Equity 19.6 % Cash 6.7 % Canadian Equity 5.0 % International Bonds 0.4 % SECTOR MIX Information technology 17.7 % Financials 15.0 % Health care 13.4 % Industrials 13.3 % Consumer discretionary 12.8 % Consumer staples 8.1 % Communication services 6.7 % Materials 5.0 % Real Estate 3.9 % Utilities 2.4 % Energy 1.9 %	GROWTH OF $10,000 For Illustration Purposes Only
TOP 10 HOLDINGS Gov. of Canada, 2%, 6/1/2028 3.1 % Royal Bank of Canada (FRN), 0.02%, 6/30/2030 3.0 % Canada Housing Trust No.1, 2.35%, 3/15/2028 2.0 % Gov. of Canada, 1%, 6/1/2027 1.6 % ENBRIDGE PIPELINES INC 15JAN21 DN 1.6 % ONTARIO POWER GENERATION INC 11MAR21 DN 1.6 % Canada Housing Trust No.1, 0.03%, 3/15/2028 1.4 % DuPont de Nemours Inc., 2.17%, 5/1/2023 1.4 % Ford Credit Canada Co., 2.58%, 5/10/2021 1.3 % Province of Ontario, 2.9%, 6/2/2028 1.0 % Total of Top 10 17.8 %	COMPOUND ANNUAL RETURNS 1 mo 3 mo YTD 1 yr 3 yr 5 yr 10 yr Inception 1.13 3.25 6.43 6.43       4.15 CALENDAR YEAR RETURNS 2013 2014 2015 2016 2017 2018 2019 2020             9.37 6.43

^* On November 1, 2019 the insurance fee (which in recent years was not included in the MER) was incorporated into the MER. The MER shown above is an estimate calculated as if the insurance fee had been incorporated into the MER for the full 2019 year. 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.