EMPIRE LIFE MULTI-STRATEGY GLOBAL BALANCED PORTFOLIO GIF

Class L Guaranteed Investment Funds as of June 30, 2022

INVESTMENT MANAGEMENT Dave Paterson, CFA Empire Life Investment Team	WHY INVEST IN THIS FUND You are seeking a balance between long-term capital growth and earning income by investing primarily in global equity securities and fixed income securities
FUND FACTS Asset Class Portfolio Funds Size (Mill) $33.74 MER 2.93 % Inception October 23, 2019 Total Holdings 8	RISK TOLERANCE low low to medium medium medium to high high
ASSET MIX (as at December 31, 2021) U.S. Equities 41.7 % U.S. Bonds 17.2 % Canadian Bonds 14.3 % International Equities 10.1 % Cash and Cash Equivalents 8.0 % Canadian Equities 5.8 % International Bonds 2.5 % Other Net Assets (Liabilities) 0.2 % SECTOR MIX (as at December 31, 2021) Information technology 22.7 % Health care 14.3 % Financials 13.3 % Consumer discretionary 13.2 % Industrials 10.7 % Consumer staples 8.5 % Communication services 7.9 % Materials 4.0 % Utilities 2.3 % Energy 1.6 % Real Estate 1.6 %	GROWTH OF $10,000 For Illustration Purposes Only
TOP 10 HOLDINGS (as at December 31, 2021) Empire Life Multi-Strategy Global Equity GIF 55.6 % Empire Life Bond Fund 8.5 % Empire Life Strategic Corporate Bond GIF 7.7 % Vanguard US Aggregate Bond Index ETF Cad Hedged 6.9 % Vanguard Canadian Short-Term Bond Index ETF 5.0 % PIMCO Monthly Income Fund 4.4 % BMO Aggregate Bond Index ETF 4.1 % iShares U.S. High Yield Bond Index ETF (CAD-Hedged) 3.9 % Total of Top 10 96.0 %	COMPOUND ANNUAL RETURNS 1 mo 3 mo YTD 1 yr 3 yr 5 yr 10 yr Inception -4.01 -8.64 -14.61 -12.19       -2.45 CALENDAR YEAR RETURNS 2014 2015 2016 2017 2018 2019 2020 2021             3.65 3.88

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.