UEP Investment Holdings As of March 31, 2021

UEP Investment Holdings as of March 31, 2021

Security Description Asset Type Market Value ($CAD) 000's

GROWTH

PUBLIC EQUITY

Samsung Inc Public Equity 21,390 Taiwan Semiconductor Public Equity 21,295 Alphabet Inc‐Cl C Public Equity 14,487 Canadian National Railway Co Public Equity 12,914 Tencent Hldgs Ltd Public Equity 12,510 Booking Holdings Inc Public Equity 11,124 Novartis Ag Public Equity 11,087 Walt Disney Co Public Equity 10,869 Alimentation Couche‐Tard Inc Public Equity 10,318 Brookfield Asset Mgmt Inc Public Equity 9,600 Roche Holding Ag Public Equity 9,336 Bank Of Nova Scotia Public Equity 9,092 AIA Group Ltd Public Equity 8,905 Oracle Corp Public Equity 8,742 Microsoft Corp Public Equity 8,354 Enbridge Inc Public Equity 8,198 Alibaba Group Hldg Ltd ADR Public Equity 8,163 Naver Corp Public Equity 7,783 Rolls‐Royce Holdings Plc Public Equity 7,747 Manulife Financial Corp Public Equity 7,725 Sanofi Public Equity 7,671 Fanuc Corp Public Equity 7,416 Ashland Global Holdings Inc Public Equity 7,124 Essent Group Ltd Public Equity 6,956 Sabre Corp Public Equity 6,682 Magna Intl Inc Public Equity 6,628 Cognizant Technology Solutions Public Equity 6,600 Concentrix Corp Public Equity 6,462 Unicredit Spa Public Equity 6,269 Broadcom Inc Public Equity 6,257 Adobe Inc Public Equity 6,214 Takeda Pharmaceutical Co Ltd Public Equity 6,205 Fiserv Inc Public Equity 6,194 CCL Industries Inc Public Equity 6,184 Open Text Corporation Public Equity 6,099 Nutrien Ltd Public Equity 5,950 Mastercard Inc Public Equity 5,862 Shin‐Etsu Chemical Co Ltd Public Equity 5,821 Automatic Data Processing Inc Public Equity 5,759 BASF SE Public Equity 5,750 Keyence Corp Public Equity 5,741 Exelon Corp Public Equity 5,689 Leidos Holdings Inc Public Equity 5,684 Thomson Reuters Corp Public Equity 5,662 CGI Inc Public Equity 5,628

1 Restaurant Brands Intl Inc Public Equity 5,584 Edwards Lifesciences Corp Public Equity 5,572 L'Oreal Public Equity 5,502 CAE Inc Public Equity 5,474 Genpact Ltd Public Equity 5,432 Linde Plc Public Equity 5,392 Airbus Se Public Equity 5,390 Softcat Plc Public Equity 5,355 Novo Nordisk A/S Public Equity 5,171 Air Canada Public Equity 5,165 LVMH Moet Hennessy Public Equity 5,161 Amphenol Corp Public Equity 5,091 Cisco Systems Inc/Delaware Public Equity 5,056 CSL Ltd Public Equity 5,022 Toronto Dominion Bank Public Equity 5,014 Fastenal Co Public Equity 4,999 Nike Inc Public Equity 4,827 Jardine Matheson Hldgs. Public Equity 4,817 Gildan Activewear Inc Public Equity 4,791 Texas Instruments Inc Public Equity 4,774 Waters Corp Public Equity 4,750 IA Financial Corp Inc Public Equity 4,748 Las Vegas Sands Corp Public Equity 4,746 Shopify Inc Public Equity 4,705 Empire Co Ltd Public Equity 4,642 AXA SA Public Equity 4,640 SNC‐Lavalin Group Inc Public Equity 4,565 Nestle SA Public Equity 4,555 Intact Financial Corp Public Equity 4,540 Intuitive Surgical Inc Public Equity 4,532 Johnson & Johnson Public Equity 4,487 Stantec Inc Public Equity 4,431 TJX Cos Inc/The Public Equity 4,382 Carrier Global Corp Public Equity 4,239 Compass Group Plc Public Equity 4,149 Citigroup Inc Public Equity 4,108 Siemens Ag Public Equity 4,096 Stryker Corp Public Equity 4,072 Premium Brands Public Equity 4,025 De'Longhi Spa Public Equity 3,994 Industria De Diseno Textil Sa Public Equity 3,931 Electrocomponents Plc Public Equity 3,822 Conocophillips Public Equity 3,821 CIE Financiere Richemont Sa Public Equity 3,809 WSP Global Inc Public Equity 3,706 Atea Asa Public Equity 3,607 Dassault Systemes SE Public Equity 3,530 Reinsurance Group Of America Public Equity 3,488 Bravida Holding Ab Public Equity 3,441 SMC Corp Public Equity 3,438 Reckitt Benckiser Group Plc Public Equity 3,437 Saputo Inc Public Equity 3,386 Murata Manufacturing Co Ltd Public Equity 3,379 Colgate‐Palmolive Co Public Equity 3,343 Metro Inc Public Equity 3,343

2 Jones Lang Lasalle Inc Public Equity 3,254 Cognex Corp Public Equity 3,202 Mondelez International Inc Public Equity 3,163 Kone Oyj Public Equity 3,162 Sarana Menara Nus Public Equity 3,124 Ping An Insurance Public Equity 3,103 Brunswick Corp/De Public Equity 3,091 Diploma Plc Public Equity 3,074 Westrock Co Public Equity 3,063 Sempra Energy Public Equity 3,039 Experian Plc Public Equity 3,026 Alexandria Real Estate Equitie Public Equity 2,977 WD‐40 Co Public Equity 2,970 Illumina Inc Public Equity 2,945 Total SE Public Equity 2,921 Descartes Systems Group Inc Common Public Equity 2,917 RWE Ag Public Equity 2,913 Walmart Inc Public Equity 2,897 Grupo Aeroportuario Public Equity 2,894 LG Household & Health Care Ltd. Public Equity 2,891 Pushpay Holdings Ltd Public Equity 2,857 Hyundai Co Public Equity 2,846 Silicon Laboratories Inc Public Equity 2,828 IMCD Nv Public Equity 2,826 International Consolidated Air Public Equity 2,774 SGS Holding Public Equity 2,756 Vale S A ADR Public Equity 2,703 Wintrust Financial Corp Public Equity 2,684 Volkswagen Ag Public Equity 2,642 Quest Diagnostics Inc Public Equity 2,625 Pinduoduo Inc‐ ADR Public Equity 2,620 West Fraser Timber Co Ltd Public Equity 2,614 Advantech Co. Ltd. Public Equity 2,598 Baycurrent Consulting Inc Public Equity 2,522 Hill‐Rom Holdings Inc Public Equity 2,520 Mercadolibre Inc Com Public Equity 2,489 Fortinet Inc Public Equity 2,480 Enghouse Systems Ltd Public Equity 2,468 Kusuri No Aoki Holdings Co Ltd Public Equity 2,454 Tsuruha Holdings Inc. Public Equity 2,451 CSW Industrials Inc Public Equity 2,447 Telkom Indonesia Persero Tbk Pt ADR Public Equity 2,441 Paychex Inc Public Equity 2,427 Brooks Automation Inc Public Equity 2,414 AMN Healthcare Services Inc Public Equity 2,400 Insperity Inc Public Equity 2,383 Boyd Group Services Inc Public Equity 2,378 Yaoko Co Ltd Public Equity 2,372 Ascendas Public Equity 2,364 Aflac Inc Public Equity 2,354 Kinaxis Inc Public Equity 2,351 ENN Energy Comstk Public Equity 2,340 ING Groep Nv Public Equity 2,330 ABB Ltd Public Equity 2,319 Aramex PJSC Public Equity 2,296

3 Thule Group Ab Public Equity 2,286 Trelleborg Ab Public Equity 2,270 On The Beach Group Public Equity 2,265 Open House Co Ltd Public Equity 2,256 Jungheinrich Ag Public Equity 2,233 JD.Com Inc ADR Public Equity 2,228 CBIZ Inc Public Equity 2,221 ASM Pacific Technology Public Equity 2,218 PC Connection Inc Public Equity 2,203 Aalberts Nv Public Equity 2,192 SK Hynix Inc GDR Public Equity 2,186 Alten SA Public Equity 2,160 Wuxi Biologics (CA) Public Equity 2,147 Mediatek Inc Public Equity 2,129 HDFC Bank Ltd ADR Public Equity 2,075 Wex Inc Public Equity 2,048 Cogeco Communications Inc Public Equity 2,036 Silergy Corp Public Equity 2,020 Teck Resources Ltd Public Equity 2,003 Community Bank System Inc Public Equity 2,000 Transcontinental Inc Public Equity 1,973 Aptargroup Inc Public Equity 1,960 Gazprom PJSC Public Equity 1,945 Winmark Corporation Public Equity 1,928 Voltronic Power Technology Corp Public Equity 1,909 Eagle Materials Inc Public Equity 1,901 Bayer Ag Public Equity 1,896 National Bank Of Canada Public Equity 1,890 Koh Young Technology Inc Public Equity 1,865 Create SD Holdings Co. Ltd. Public Equity 1,850 Canadian Tire Corp Ltd Public Equity 1,819 Altus Group Ltd Public Equity 1,807 SCSK Corporation Public Equity 1,802 John Wiley & Sons Inc Public Equity 1,799 Clean Harbors Inc Public Equity 1,799 Burckhardt Compression Holding Public Equity 1,793 Bakkafrost Public Equity 1,782 TCF Financial Corp Public Equity 1,769 Vietnam Dairy Products Jsc Public Equity 1,762 New Work Se Public Equity 1,762 Diversified Gas & Oil Plc Public Equity 1,751 Grandvision Nv Public Equity 1,743 President Chain Store Corp. Public Equity 1,727 Totvs SA Com Npv Public Equity 1,725 ASE Technology Holding Co Ltd Public Equity 1,703 Waste Management Inc Public Equity 1,702 Medacta Group Sa Public Equity 1,694 Coca‐Cola Co Public Equity 1,689 Lundin Mining Corp Public Equity 1,683 Horiba Ltd Public Equity 1,666 Morneau Shepell Inc Public Equity 1,660 Winpak Ltd Public Equity 1,654 Banco Bilbao Vizcaya Argentari Public Equity 1,647 Cia Cervecerias Unidas SA Adr Public Equity 1,637 Oil Search Ltd Public Equity 1,625

4 Steris Plc Public Equity 1,611 CACI International Inc Public Equity 1,602 West Pharmaceutical Services Inc Public Equity 1,599 Sunny Friend Environmental Tech Co Public Equity 1,595 Yandex N V Public Equity 1,595 China Resources Gas Group Ltd. Public Equity 1,591 Vanguard FTSE Emerging Mkts AL Public Equity 1,588 Kimberly‐Clark Corp Public Equity 1,586 Glanbia Plc Public Equity 1,582 Huhtamaki Oyj Public Equity 1,576 Columbia Sportswear Co Public Equity 1,572 KH Neochem Co Ltd Public Equity 1,567 VZ Holdings Ag Public Equity 1,560 Dormakaba Holding Ag Public Equity 1,548 Spirit Aerosystems Holdings Inc Public Equity 1,538 BRP Inc Public Equity 1,536 Nifco Inc/Japan Public Equity 1,536 Bravura Solutions Ltd Public Equity 1,528 Retail Opportunity Investments Public Equity 1,526 Cembra Money Bank Ag Public Equity 1,523 Canadian Western Bank Public Equity 1,519 SM Investments Corp. Public Equity 1,494 National Instruments Corp Public Equity 1,494 Sunny Optical Technology Group Public Equity 1,493 Southern Copper Corp Com Public Equity 1,484 B2Gold Corp Public Equity 1,482 TFI International Inc Public Equity 1,470 RPM International Inc Public Equity 1,457 NICE Information Service Public Equity 1,447 Franco‐Nevada Corp Public Equity 1,445 Clicks Group Ltd Public Equity 1,440 Ansell Ltd Public Equity 1,439 Kirby Corp Public Equity 1,426 Central Asia Metals Plc Public Equity 1,426 Cerved Group Spa Public Equity 1,426 Terminix Global Holdings Inc Public Equity 1,420 Ace Hardware Indonesia Public Equity 1,412 Jollibee Foods Corp. Public Equity 1,411 BK Rakyat Public Equity 1,411 Public Service Public Equity 1,409 Bausch Health Cos Inc Public Equity 1,403 Altair Engineering Inc Public Equity 1,378 Procter & Gamble Co Public Equity 1,375 4Imprint Group Plc Public Equity 1,373 Centerra Gold Inc Public Equity 1,363 Bio‐Rad Laboratories Inc Public Equity 1,357 Broadleaf Co Ltd Public Equity 1,353 Itochu Corp Public Equity 1,349 KWS Saat Se & Co. Kgaa Public Equity 1,347 Dechra Pharmaceuticals Plc Public Equity 1,343 Cargurus Inc Public Equity 1,343 Linamar Corp Public Equity 1,341 Tata Consultancy Public Equity 1,340 Trip Com Group Ltd ADR Public Equity 1,338 Chase Corporation Public Equity 1,338

5 Technogym Spa Public Equity 1,328 Kalbe Farma Tbk PT Public Equity 1,327 XP Power Ltd Public Equity 1,325 Hardwoods Distribution Inc Public Equity 1,307 Knowit Ab Public Equity 1,302 Galp Energia SGPS Public Equity 1,299 Magazine Luiza Sa Public Equity 1,299 Livanova Plc Public Equity 1,297 British American Tobacco Plc Public Equity 1,281 Freightways Ltd Public Equity 1,271 Cascades Inc Public Equity 1,266 Enel Spa Public Equity 1,248 Petroleo Brasileiro SA Pet ADR Public Equity 1,248 Infosys Ltd ADR Public Equity 1,225 Infineon Technologies Ag Public Equity 1,218 Toyota Motor Corporation Public Equity 1,211 Republic Svcs. Public Equity 1,209 Orange Public Equity 1,201 Systemax Inc Public Equity 1,198 Paragon Banking Group Plc Public Equity 1,192 MDU Resources Group Inc Public Equity 1,187 Tourmaline Oil Corp Public Equity 1,184 United Microelectronics Corp Public Equity 1,181 Elisa Oyj Public Equity 1,178 Parex Resources Inc Public Equity 1,177 AAC Technologies Holdings Inc Public Equity 1,175 Pioneer Natural Resources Co Public Equity 1,156 Brown & Brown Inc Public Equity 1,154 Nextera Energy Inc. Public Equity 1,148 Swisscom Ag‐Reg Public Equity 1,138 Bolsa Mexicana De Valores Sab De Cv Public Equity 1,131 Merlin Properties Socimi Sa Public Equity 1,128 Noritsu Koki Co Ltd Public Equity 1,127 Soitec Public Equity 1,117 Wolters Kluwer Public Equity 1,114 Norway Royal Salmon ASA Public Equity 1,113 Hudbay Minerals Inc Public Equity 1,112 Admiral Group Plc Public Equity 1,108 Atmos Energy Corp Public Equity 1,096 SSP Group Plc Public Equity 1,089 Ameren Corporation Public Equity 1,084 Hiwin Tech Corp Public Equity 1,082 Marr Spa Public Equity 1,078 Hulic REIT Inc Public Equity 1,070 D&L Industries Public Equity 1,059 Celltrion Inc Public Equity 1,049 Celestica Inc Public Equity 1,047 Naspers 'N' Zar Public Equity 1,041 Verizon Communications Inc Public Equity 1,034 Morningstar Inc Public Equity 1,033 Givaudan‐Reg Public Equity 1,032 Ambev SA ‐ ADR Public Equity 1,030 AT&T Inc Public Equity 1,028 Restore Plc Public Equity 1,027 Abbott Laboratories Public Equity 1,026

6 Richelieu Hardware Ltd Public Equity 999 National Grid Plc Public Equity 998 JM Smucker Co/The Public Equity 993 Merck & Co. Public Equity 990 Hengan International Group Co Ltd Public Equity 985 Pepsico Inc Public Equity 981 Recordati Spa Public Equity 976 Red Electrica Corporacion Public Equity 974 TS Tech Co Ltd Public Equity 973 Japan Post Bank Co Ltd Public Equity 961 Eversource Energy Public Equity 956 Brembo Spa Public Equity 953 Swiss Prime Site Ag Public Equity 948 Applus Services SA Public Equity 938 Telia Co Ab Public Equity 936 CLP Holdings Public Equity 931 Palomar Holdings Inc Public Equity 920 Berkshire Hathaway Inc‐Cl Public Equity 917 First Solar Inc Public Equity 911 Heineken Malaysia Bhd Public Equity 910 Innolux Corp Public Equity 909 Sleep Country Cda Holdings Inc Public Equity 902 CI Financial Inc Public Equity 895 Nordic Waterproofing Holding Ab Public Equity 888 CT REIT Public Equity 875 Polaris Infrastructure Inc Public Equity 873 Netease Inc Sponsored ADR Public Equity 864 Woolwortgrp Ltd Public Equity 859 Fielmann Ag Public Equity 851 Zurich Insurance Group Ag Public Equity 843 Gallagher Arthur Public Equity 839 Pernod Ricard Sa Public Equity 836 Labrador Iron Ore Royalty Corp Public Equity 826 Telenor Asa Public Equity 823 Duke Energy Corp Public Equity 819 Bilia Ab Public Equity 815 Kirkland Lake Gold Ltd Public Equity 794 AU Optronics Corp Public Equity 788 Kumho Petrochemical Co Ltd Public Equity 787 High Liner Foods Public Equity 785 Eregli Demir Ve Celik Fabrik Public Equity 784 Orkla Asa Public Equity 783 B3 SA Com Npv Public Equity 783 LG Electronics Inc Public Equity 770 American Tower Corp Public Equity 764 Breedon Group Plc Public Equity 762 AGF Management Ltd Public Equity 759 BK Mandiri Public Equity 757 Air Liquide SA Public Equity 755 Japan Post Holdings Co Ltd Public Equity 751 PTT Public Company ADR Public Equity 748 Stella‐Jones Inc Public Equity 744 CMS Energy Corp Public Equity 736 WEC Energy Group Inc Public Equity 736 Zoomlion Heavy Industry ‐ H Public Equity 733

7 Corus Entertainment Inc Public Equity 729 Fleury SA Public Equity 728 Qisda Corp Public Equity 726 Secom Co Ltd Public Equity 722 Magnit PJSC Public Equity 717 Kakao Corp Public Equity 715 Intercontinental Exchange Public Equity 714 Rogers Sugar Inc Public Equity 711 Crown Castle International Public Equity 710 Wajax Corp Public Equity 701 Terna Spa Public Equity 689 CNOOC Ltd Npv Public Equity 689 CSPC Pharmaceutical Public Equity 687 Xcel Energy Inc. Public Equity 686 Singapore Exchange Public Equity 684 Largan Precision C Public Equity 683 Equitable Group Inc Public Equity 681 Exco Technologies Ltd Public Equity 680 North West Co Inc (The) Public Equity 679 S‐1 Corporation Public Equity 676 Harworth Group Plc Public Equity 672 Arcelik As Public Equity 668 Evolution Mining Ltd Public Equity 665 Korea Shipbuilding & Offshore Public Equity 665 Amsterdam Commodities NV Public Equity 664 China Petroleum & Chemical‐H Public Equity 659 Sands China Ltd Public Equity 656 Westshore Terminals Invt Corp Public Equity 650 Hon Hai Precision Industry Public Equity 645 Fuji Photo Film Co Ltd Public Equity 640 Yunnan Aluminium Co Ltd‐A (Sz Connect) Public Equity 640 Schoeller‐Bleckmann Oilfield E Public Equity 634 Want Want China Holdings Ltd. Public Equity 634 Koninklijke Ahold Nv Public Equity 627 Ausnet Services Public Equity 625 Kia Motors Corporation Public Equity 624 Jiangxi Copper Co Ltd‐H Public Equity 617 Canacol Energy Ltd Public Equity 616 IND & Comm Bk Of China‐H Public Equity 611 Acer Inc Public Equity 610 LG Display Co Ltd Public Equity 609 Beazley Plc Public Equity 605 Mcdonald's Corporation Public Equity 605 Dominion Energy Inc Public Equity 604 American Water Works Co I Public Equity 602 Artis REIT Public Equity 601 PTT Global Chemical Pcl Public Equity 598 Geberit Ag‐Reg Public Equity 597 Unilever Plc Public Equity 592 Tongling Nonferrous Metals‐A (Sz Connect) Public Equity 586 Enerplus Corp Public Equity 584 Steel Authority Of India Public Equity 583 WDB Holdings Co Ltd Public Equity 583 ATCO Ltd Public Equity 580 Chongqing Changan Auto‐A (Sz Connect) Public Equity 574

8 Sappi Limited Public Equity 573 Nisource Inc Public Equity 573 KDDI Corporation Public Equity 573 Shandong Nanshan Aluminum‐A (Sh Connect) Public Equity 567 Thai Oil Pcl ‐ Foreign Public Equity 564 PJSC Lukoil Sponsored ADR Public Equity 561 Kerry Group Public Equity 558 Douglas Dynamics Inc. Public Equity 557 Finning International Inc Public Equity 556 Tryg A/S Public Equity 556 OCI Co Ltd Public Equity 551 State Bank Of India Public Equity 546 Hormel Foods Corp Public Equity 546 GS Engineering & Construct Public Equity 545 CSG Holding Co Ltd‐ A (Sz Connect) Public Equity 543 Beiersdorf Ag Public Equity 543 Winbond Electronics Corp Public Equity 542 Hershey Co Public Equity 531 FDM Group Holdings Plc Public Equity 531 Irico Display Devices Co‐ A Public Equity 524 CITIC Securities Public Equity 518 Tongkun Group Co Ltd‐A (Sh Connect) Public Equity 517 Enerflex Ltd Public Equity 517 Marsh & Mclennan Cos Public Equity 516 Martinrea International Inc Public Equity 514 Wistron Corp Public Equity 509 Hannstar Display Corp Public Equity 506 Altagas Ltd Public Equity 505 Itau Unibanco Hldg Sa Spon ADR Public Equity 503 Yunnan Copper Co Ltd‐A (Sz Connect) Public Equity 503 Banque Cantonale Vaudois Public Equity 502 Turkcell Iletisim Hizmet AS Public Equity 500 Sagen MI Canada Inc Public Equity 500 KGHM Polska Miedz SA Public Equity 498 Glencore Plc Public Equity 495 Bechtle Ag Public Equity 490 China Construction Bank‐H Public Equity 489 China Railway Group Ltd‐H Public Equity 489 Capital Power Corp Public Equity 488 Hankook Tire & Technology Co Public Equity 485 Recipe Unlimited Corp Public Equity 480 Crombie Real Estate Inv Trust Public Equity 476 Dorel Industries Inc Public Equity 476 Agricultural Bank Of China‐H Public Equity 476 Sino Biopharmaceutical Public Equity 473 Bank Of Chengdu Co Ltd‐A (Sh Connect) Public Equity 471 Petkim Petrokimya Holding As Public Equity 471 W.R. Berkley Public Equity 471 Phison Electronics Corp Public Equity 466 CICC Beiqi Foton Motor Co Ltd‐A Public Equity 465 James Fisher & Sons Plc Public Equity 464 Globant S A Com Public Equity 464 Amerisourcebergen Corp Public Equity 462 Win Semiconductors Public Equity 460 Canon Inc. Public Equity 455

9 Nine Dragons Paper Holdings Npv Public Equity 454 South32 Ltd Npv Public Equity 452 KB Financial Group Inc Public Equity 448 Alrosa PJSC Public Equity 447 Rushydro PJSC Public Equity 446 Guangxi Liugong Machinery‐A (Sz Connect) Public Equity 445 Mitsubishi Corporation Public Equity 440 Beijing Yanjing Brewery Co‐A (Sz Connect) Public Equity 435 Bank Central Asia Tbk Pt Public Equity 430 Banco Bradesco SA Sp ADR Public Equity 428 Ennostar Inc Npv Public Equity 428 Polski Koncern Naftowy Orlen Public Equity 428 Nippon Telegraph & Teleph Public Equity 426 Aluminum Corp Of China Ltd‐H Public Equity 426 Kinsus Interconnect Tech Public Equity 425 Indian Oil Corporation Ltd Public Equity 425 Genscript Biotech Public Equity 421 Cominar REIT Public Equity 421 Laurentian Bank Of Canada Public Equity 420 MLS Co Ltd‐A (Sz Connect) Public Equity 418 Magellan Aerospace Corp Public Equity 418 Wuxi Taiji Indus Co Ltd‐A (Sh Connect) Public Equity 411 Banpu Public Co Ltd‐For Reg Public Equity 410 Lotte Chemical Corp Public Equity 407 Severn Trent Plc Public Equity 407 Bank Of Changsha Co Ltd‐A (Sh Connect) Public Equity 403 Chorus Aviation Inc Public Equity 402 Tal Ed Group Ads Repstg Co ADR Public Equity 401 ORG Technology Co Ltd‐A (Sz Connect) Public Equity 400 Greentown China Holdings Public Equity 399 Gilead Sciences Public Equity 396 Diageo Plc Public Equity 394 Rizhao Port Co Ltd Public Equity 394 Osaka Gas Co Ltd Public Equity 391 Japan Tobacco Inc Public Equity 390 Credit Suisse Group Ag Public Equity 389 Stingray Group Inc Public Equity 389 Daqin Railway Co Ltd ‐A (Sh Connect) Public Equity 386 Colruyt Sa Public Equity 381 China Galaxy Securities Co‐H Public Equity 379 Xuji Electric Co Ltd‐A (Sz Connect) Public Equity 379 Duke Realty Corp Public Equity 375 Faw Jiefang Group Co Ltd‐A (Sz Connect) Public Equity 373 Bank Of Baroda Public Equity 373 GPO Aero Del Pacifico Ser B Public Equity 370 Emlak Konut Gayrimenkul Yati Public Equity 369 APG SGA SA Public Equity 365 Credicorp Ltd Public Equity 363 Guangzhou R&F Properties ‐ H Public Equity 362 Bank Of China Ltd‐H Public Equity 362 Kansai Electric Public Equity 361 Inventec Corp Public Equity 359 CICC Triangle Tyre Co Ltd‐A Public Equity 356 Extra Space Storage Inc Public Equity 351 Beibuwan Port Co Ltd‐A (Sz Connect) Public Equity 351

10 Green Cross Corp Public Equity 345 Bank Of Communications Co‐H Public Equity 338 Airports Of Thailand (Nvdr) Public Equity 337 London Stock Exchange Group Public Equity 332 Chocoladefabriken Lindt‐P Public Equity 330 Fujian Star‐Net Communicat‐A (Sz Connect) Public Equity 327 Chongqing Department Store‐A (Sh Connect) Public Equity 325 Tupras‐Turkiye Petrol Rafine Public Equity 323 Pegatron Corp Public Equity 321 Relx Plc Public Equity 315 Uni‐Select Public Equity 314 Iamgold Corp Public Equity 313 Mitsui & Co Ltd Public Equity 312 Federal Grid Co Unified PJSC Public Equity 310 Yapi Ve Kredi Bankasi Public Equity 307 Bridgestone Corp Public Equity 302 Addcn Technology Public Equity 302 Turkiye Is Bankasi‐C Public Equity 298 DTE Energy Company Public Equity 296 CEMIG SA ‐Spons ADR Public Equity 296 WM Morrison Supermarkets Public Equity 294 Cia De Minas Buenaventur‐ADR Public Equity 293 SSE Plc Public Equity 292 Dongfang Electric Corp Ltd‐H Public Equity 292 IRPC Pcl ‐ Foreign Public Equity 290 Fomento Econ Mexico Public Equity 288 Tokio Marine Holdings Inc Public Equity 283 Rosseti PJSC Public Equity 282 Coloplast‐B Public Equity 280 Spark New Zealand Ltd Public Equity 279 Chugoku Electric Power Co Public Equity 279 Argonaut Gold Inc New Public Equity 278 Lupin Ltd Public Equity 276 Korea Electric Power Corp Public Equity 275 People's Insurance Co Group‐H Public Equity 274 Tricon Residential Inc Public Equity 274 HKT Trust / Hkt Ltd. Public Equity 272 Singapore Telecommunication Public Equity 271 HK Electric Investments Public Equity 271 Coretronic Corp Public Equity 270 Dollar General Corp Public Equity 269 Kellogg Co Public Equity 267 New Oriental Ed & Technolo ADR Public Equity 264 Sun Art Retail Group Ltd Npv Public Equity 263 Expeditors Intl Wash Inc Public Equity 263 Oversea‐Chinese Public Equity 262 Pizza Pizza Royalty Corp Public Equity 261 Novozymes A/S‐B Shares Public Equity 260 Lawson Inc. Public Equity 259 Ajinomoto Co Inc Public Equity 259 Clorox Company Public Equity 256 CLSA Jilin Sino‐Microelectronic‐A Public Equity 255 SK Networks Co Ltd Public Equity 253 Bank Hapoalim Ltd Public Equity 249 Cheng Shin Rubber Ind Co Ltd Public Equity 249

11 Costco Wholesale Corp Public Equity 248 Eurobank Ergasias Services And Holdings S.A. Public Equity 247 Zoetis Inc Public Equity 247 Shenzhen Laibao Hi‐Tech Co‐A (Sz Connect) Public Equity 245 National Bank Of Greece Public Equity 245 China Minsheng Banking‐H Public Equity 243 Tekfen Holding As Public Equity 235 Dogan Sirketler Grubu Hldgs Public Equity 227 Waste Connections Inc Public Equity 227 AGL Energy Ltd Public Equity 224 International CSRC Investment Hldgs Co Public Equity 222 Rostelecom PJSC Public Equity 220 China Petrochemical Dev Corp Public Equity 217 Hermes International Public Equity 215 Snam Spa Public Equity 214 Krka Dd Novo Mesto Public Equity 212 Daiwa House REIT Investment Public Equity 211 CME Group Inc. Public Equity 211 Xiamen King Long Motor Gr ‐A Public Equity 210 Equity Lifestyle Properties Public Equity 206 Storm Resources Ltd Public Equity 206 Alpha Bank AE Public Equity 204 Tehmag Foods Corp Public Equity 204 Embraer SA‐Spon ADR Public Equity 199 Mobile Telesystems PJSC Public Equity 193 Better Life Commercial CHA‐A (Sz Connect) Public Equity 193 Alliant Energy Corp Public Equity 192 Slate Office REIT Public Equity 191 Leon's Furniture Ltd Public Equity 186 Tauron Polska Energia SA Public Equity 180 Endesa S.A. Public Equity 179 Perusahaan Gas Public Equity 178 Shandong Haihua Co‐A Public Equity 173 Cosco Shipping Ports Ltd Public Equity 171 Koninklijke Vopak Nv Public Equity 166 J. Henry & Assoc Public Equity 166 Carrefour Sa Public Equity 164 Kinh Bac City Development Public Equity 163 Astrazeneca Plc Public Equity 161 PT Bank Negara IND Public Equity 160 PGE SA Public Equity 159 Eli Lilly & Co Public Equity 157 Nasdaq Omx Group (The) Public Equity 157 Everlight Electronics Co Ltd Public Equity 153 Groupe Bruxelles Public Equity 151 Poly Property Group Co Ltd Public Equity 151 Consolidated Edison Inc Public Equity 147 Air Products & Chemicals Public Equity 146 GPO Fin Banorte Public Equity 145 Mizuho Financial Group Public Equity 144 Direct Line Insurance Group Public Equity 141 Vivendi Public Equity 138 Intertek Group Plc Public Equity 134 Singapore Tech. Public Equity 134 Taseko Mines Ltd Public Equity 132

12 Tokyo Gas Co Public Equity 132 Seven & I Holdings Co Ltd Public Equity 131 SPDRS S&P 500 ETF Trust Public Equity 124 Bharat Heavy Electricals Public Equity 124 3SBio Inc Public Equity 124 Dynacor Gold Mines Inc Public Equity 124 High Arctic Energy Services Public Equity 122 Chesswood Group Ltd Public Equity 121 Vietnam National Petroleum G Public Equity 116 Livechat Software Sa Public Equity 114 HK & China Gas Public Equity 114 HTC Corp Public Equity 114 United Utilities Group Pl Public Equity 110 American Electric Power Public Equity 107 Ishares MSCI EAFE ETF Public Equity 107 Essity Aktiebolag‐B Public Equity 107 Medtronic Plc Public Equity 106 Japan Real Estate Invest Public Equity 105 TV18 Broadcast Ltd Public Equity 104 Yangarra Resources Ltd Public Equity 99 General Mills Inc Public Equity 99 Resmed Inc Public Equity 99 Tree Island Steel Ltd Public Equity 98 Sino‐Ocean Group Holding Ltd Npv Public Equity 98 Henkel KGAA Public Equity 97 Rinnai Public Equity 97 Glaxosmithkline Plc Public Equity 96 Supremex Inc Public Equity 94 KP Tissue Inc Public Equity 92 Amcor Plc Public Equity 86 Progressive Corp Public Equity 85 Beijing Hualian Hypermarket‐A Public Equity 85 Schindler Holdi Part Cert Public Equity 82 Power Assets Holdings Ltd Public Equity 81 Symrise Ag Public Equity 75 Southern Company Public Equity 74 Loews Corp Public Equity 74 Grifols SA Public Equity 71 Cerner Corporation Public Equity 70 Total Energy Services Inc Public Equity 69 ABC‐Mart Inc Public Equity 62 Barry Callebaut Ag‐Reg Public Equity 54 Lucara Diamond Corp Public Equity 49 MTR Corp Public Equity 46 Investor Ab‐B Shs Public Equity 45 Lundbergs AB‐B Public Equity 45 Italian‐Thai Develop ‐ Foreign Public Equity 28 Gemadept Corp Public Equity 27 Old Mutual Plc Public Equity 26 TVA Group Inc Cl B Public Equity 14 Proximus Public Equity 9 Ukrtelecom Public Equity 2 Iberdrola Public Equity 0 United Aircraft Corp PJSC Public Equity 0

13 Cash & Cash Equivalents Pool Fund Cash 31,287

Public Equity Total 1,215,825

PRIVATE EQUITY

Secondaries (4 Managers ‐ 7 Funds) Private Equity 38,100 Buyout (4 Managers ‐ 5 Funds) Private Equity 22,560 Growth (1 Manager ‐ 3 Funds) Private Equity 34,961 Venture Capital (3 Managers ‐ 6 Funds) Private Equity 16,492

Private Equity Total 112,113

GROWTH TOTAL 1,327,938

INFLATION SENSITIVE

REAL ESTATE

US Core Real Estate Real Estate 55,055 Canadian Core Real Estate Real Estate 32,114 Value Add Private Real Estate (3 Managers ‐ 4 Funds) Real Estate 13,468

Real Estate Total 100,637

NATURAL RESOURCE EQUITY

SPDR S&P Natural Resources ETF Public Equity 110,851

Natural Resource Equity Total 110,851

ENERGY & RENEWABLES

Private Energy & Renewables (4 Managers ‐ 5 Funds) Private Equity 50,795

Energy & Renewables Total 50,795

COMMODITIES

Commodities (1 Manager ‐ 1 Managed Account) Commodity Futures 16,907

Commodities Total 16,907

INFLATION SENSITIVE TOTAL 279,191

14 DEFLATION HEDGING

SOVEREIGN BONDS

Government Of Canada 1.000% 01‐JUN‐2027 Fixed Income 14,888 Government Of Canada 5.750% 01‐JUN‐2029 Fixed Income 14,695 Government Of Canada 2.750% 01‐JUN‐2022 Fixed Income 13,391 Government Of Canada 8.000% 01‐JUN‐2023 Fixed Income 12,830 Government Of Canada 2.500% 01‐JUN‐2024 Fixed Income 10,631 Government Of Canada 2.250% 01‐JUN‐2025 Fixed Income 10,613 Government Of Canada 1.500% 01‐JUN‐2023 Fixed Income 10,269 Government Of Canada 1.500% 01‐JUN‐2026 Fixed Income 10,255 Government Of Canada 3.250% 01‐JUN‐2021 Fixed Income 10,050

Sovereign Bonds Total 107,623

DEFLATION HEDGING TOTAL 107,623

DIVERSIFIERS

ABSOLUTE RETURN

Custom Hedge Fund Program (11 Managers ‐ 12 Funds) Absolute Return 106,810 Diversified Trend Following Program (6 Managers ‐ 6 Managed Accounts) Absolute Return 69,825

Absolute Return Total 176,635

Cash & Cash Equivalents Cash & Cash Equivalents 72,139

DIVERSIFIERS TOTAL 248,774

UEP TOTAL MARKET VALUE 1,963,526