EMPIRE LIFE MULTI-STRATEGY GLOBAL CONSERVATIVE 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 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) $24.02 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 December 31, 2021) U.S. Bonds 27.2 % Canadian Bonds 25.4 % U.S. Equities 24.0 % Cash and Cash Equivalents 7.6 % International Equities 5.8 % Canadian Equities 5.8 % International Bonds 3.6 % Other Net Assets (Liabilities) 0.5 % SECTOR MIX (as at December 31, 2021) Information technology 22.7 % Health care 14.2 % 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 1.7 % 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 31.9 % Vanguard Canadian Short-Term Bond Index ETF 16.5 % Empire Life Strategic Corporate Bond GIF 15.0 % Vanguard US Aggregate Bond Index ETF Cad Hedged 13.5 % Empire Life Bond Fund 8.2 % PIMCO Monthly Income Fund 6.8 % BMO Aggregate Bond Index ETF 4.3 % Total of Top 10 96.2 %	COMPOUND ANNUAL RETURNS 1 mo 3 mo YTD 1 yr 3 yr 5 yr 10 yr Inception -3.05 -6.75 -12.07 -10.99       -2.63 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.