EMPIRE LIFE MULTI-STRATEGY GLOBAL BALANCED PORTFOLIO GIF

Class L Guaranteed Investment Funds as of December 31, 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) $35.50 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 June 30, 2022) U.S. Equities 35.9 % U.S. Bonds 18.7 % Canadian Bonds 15.0 % International Equities 11.5 % Canadian Equities 10.3 % Cash and Cash Equivalents 6.8 % International Bonds 1.9 % SECTOR MIX (as at June 30, 2022) Information technology 18.6 % Health care 15.8 % Financials 15.7 % Industrials 11.9 % Consumer discretionary 11.3 % Consumer staples 10.0 % Materials 4.9 % Energy 3.8 % Communication services 3.4 % Utilities 2.9 % Real Estate 1.9 %	GROWTH OF $10,000 For Illustration Purposes Only
TOP 10 HOLDINGS (as at June 30, 2022) Empire Life Multi-Strategy Global Equity GIF 52.6 % Empire Life Strategic Corporate Bond GIF 10.1 % Vanguard US Aggregate Bond Index ETF Cad Hedged 7.6 % Empire Life Bond Fund 7.4 % BMO Aggregate Bond Index ETF 7.3 % Vanguard Canadian Short-Term Bond Index ETF 5.0 % PIMCO Monthly Income Fund 4.5 % iShares U.S. High Yield Bond Index ETF (CAD-Hedged) 1.5 % Total of Top 10 96.0 %	COMPOUND ANNUAL RETURNS 1 mo 3 mo YTD 1 yr 3 yr 5 yr 10 yr Inception -2.35 4.88 -11.83 -11.83 -1.72     -1.08 CALENDAR YEAR RETURNS 2015 2016 2017 2018 2019 2020 2021 2022           3.65 3.88 -11.83

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.