EMPIRE LIFE MULTI-STRATEGY GLOBAL CONSERVATIVE PORTFOLIO GIF

Class L Guaranteed Investment Funds as of December 31, 2021

INVESTMENT MANAGEMENT Dave Paterson, CFA Empire Life Investment Team	WHY INVEST IN THIS FUND You are seeking income and long-term capital growth by investing primarily in fixed income securities and in global equity securities.
FUND FACTS Asset Class Portfolio Funds Size (Mill) $27.40 MER 2.72 % Inception October 23, 2019 Total Holdings 7	RISK TOLERANCE low low to medium medium medium to high high
ASSET MIX (as at June 30, 2021) U.S. Equities 37.3 % U.S. Bonds 20.0 % Canadian Bonds 18.9 % Cash and Cash Equivalents 7.7 % Canadian Equities 6.1 % International Equities 5.2 % International Bonds 4.6 % SECTOR MIX (as at June 30, 2021) Information technology 19.6 % Financials 15.2 % Consumer discretionary 14.0 % Health care 12.9 % Industrials 11.7 % Consumer staples 9.4 % Communication services 8.8 % Materials 4.0 % Utilities 1.8 % Energy 1.5 % Real Estate 1.1 %	GROWTH OF $10,000 For Illustration Purposes Only
TOP 10 HOLDINGS (as at June 30, 2021) Empire Life Multi-Strategy Global Equity GIF 31.1 % Vanguard Canadian Short-Term Bond Index ETF 16.6 % Empire Life Strategic Corporate Bond GIF 16.2 % Vanguard US Aggregate Bond Index ETF Cad Hedged 13.3 % PIMCO Monthly Income Fund 10.7 % BMO Aggregate Bond Index ETF 5.0 % Empire Life Bond Fund 3.5 % Total of Top 10 96.4 %	COMPOUND ANNUAL RETURNS 1 mo 3 mo YTD 1 yr 3 yr 5 yr 10 yr Inception 0.99 1.37 1.24 1.24       2.64 CALENDAR YEAR RETURNS 2014 2015 2016 2017 2018 2019 2020 2021             3.45 1.24

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.