EMPIRE LIFE GLOBAL ASSET ALLOCATION GIF

Class L Guaranteed Investment Funds as of March 31, 2024

INVESTMENT MANAGEMENT Ashley Misquitta, CFA Albert Ngo David Mann, CFA Empire Life Investment Team	WHY INVEST IN THIS FUND You are seeking growth and income by investing in a tactical mix of primarily global equity and fixed income securities, with a target equity allocation of 65%
FUND FACTS Asset Class Global Balanced Size (Mill) $210.13 MER 3.25 % Inception May 28, 2018 Total Holdings 273	RISK TOLERANCE low low to medium medium medium to high high
ASSET MIX U.S. Equities 35.6 % U.S. Bonds 20.8 % International Equities 20.2 % Cash and Cash Equivalents 8.3 % Canadian Bonds 7.2 % Canadian Equities 6.7 % International Bonds 1.3 % SECTOR MIX Financials 22.5 % Health care 16.0 % Information technology 13.4 % Consumer discretionary 12.5 % Energy 11.1 % Industrials 9.4 % Consumer staples 7.0 % Communication services 4.2 % Utilities 2.0 % Materials 1.9 %	GROWTH OF $10,000 For Illustration Purposes Only
TOP 10 HOLDINGS ROYAL BK OF CAD 4.95% 01APR24 TD 7.9 % Microsoft Corporation 2.6 % Cintas Corporation 1.9 % Pan Pacific International Holdings Corporation 1.8 % Novo Nordisk AS, Series 'B'. 1.7 % Canadian Natural Resources Limited 1.7 % PNC Financial Services Group Inc. (The) Com 1.6 % Ross Stores Inc. 1.6 % Visa Inc. 'A' 1.6 % UnitedHealth Group Inc. 1.5 % Total of Top 10 24.0 %	COMPOUND ANNUAL RETURNS 1 mo 3 mo YTD 1 yr 3 yr 5 yr 10 yr Inception 2.44 5.51 5.51 9.74 3.45 4.29   3.95 CALENDAR YEAR RETURNS 2016 2017 2018 2019 2020 2021 2022 2023       12.57 5.25 5.36 -4.48 5.14

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.