CANADA LIFE PATHWAYS CANADIAN EQUITY FUND

Quarterly Portfolio Disclosure As of June 30, 2021 Summary of Investment Portfolio Top 25 Positions Portfolio Allocation % of NAV Issuer % of NAV Equities 98.8 Royal Bank of 7.7 Cash and short-term investments 1.1 The Toronto-Dominion Bank 5.5 Other assets (liabilities) 0.1 Bank of Montreal 5.5 Shopify Inc. 4.1 Regional Allocation % of NAV Brookfield Asset Management Inc. 3.2 Canadian National Railway Co. 3.2 Canada 93.6 Intact Financial Corp. 2.9 United States 5.2 Canadian Pacific Railway Ltd. 2.9 Cash and short-term investments 1.1 Constellation Software Inc. 2.7 Other assets (liabilities) 0.1 Boyd Group Services Inc. 2.5 Open Text Corp. 2.3 Sector Allocation % of NAV Canadian Natural Resources Ltd. 2.2 Financials 28.8 Tourmaline Oil Corp. 2.1 Information technology 15.1 Enbridge Inc. 2.0 Industrials 14.9 CGI Inc. 2.0 Energy 13.1 Boralex Inc. 1.6 Materials 8.2 Alimentation Couche-Tard Inc. 1.6 Consumer discretionary 6.2 Sun Life Financial Inc. 1.6 Communication services 4.1 1.6 Consumer staples 2.9 Parkland Fuel Corp. 1.5 Utilities 2.5 Nutrien Ltd. 1.4 Real estate 1.9 Suncor Energy Inc. 1.4 Cash and short-term investments 1.1 Wheaton Precious Metals Corp. 1.4 Health care 1.1 TC Energy Corp. 1.4 Other assets (liabilities) 0.1 Inc. 1.4

The Fund did not hedge its foreign currency exposure at the end of the period. Top long positions as a percentage of total net asset value 65.7

Total net asset value of the Fund $146.1 million

The Fund held no short positions at the end of the period. The investments and percentages may have changed since June 30, 2021, due to the ongoing portfolio transactions of the Fund. Quarterly updates of holdings are available within 60 days of the end of each quarter except for March 31, the Fund’s fiscal year‑end, when they are available within 90 days.

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