Re: Lower Fees for the Dell Canada Retirement Savings Program

[Date]

Re: Lower fees for the Dell Canada Retirement Savings Program

Dear Plan Participant,

The investment management fees (IMFs) for the Dell Canada Retirement Savings Program were reduced on September 4, 2015. An IMF is the fee collected by Manulife to cover the cost associated with investment management and administrative expenses. The fee is deducted from the fund before unit values are calculated.

Most IMFs were reduced on average by 0.246%, although some funds experienced a slightly different level of fee reduction.

The following table shows the new, lower IMFs for Dell’s retirement program. Fund Code Fund Name Previous IMF New IMF Difference (%) (%) 2321 – 2330 Manulife BlackRock LifePath Index Funds 0.550% 0.300% 0.250% 3132 Manulife Canadian Money Market Fund 0.450% 0.210% 0.240% Manulife Asset Management Canadian 4191 0.470% 0.215% 0.255% Bond Index Fund 5452 Manulife Mawer Canadian Balanced Fund 0.560% 0.410% 0.150% Manulife Asset Management Canadian 7132 0.480% 0.200% 0.280% Equity Index Fund Manulife Beutel Goodman Canadian Equity 7631 0.715% 0.425% 0.290% Fund Manulife Asset Management U.S. Equity 8131 0.480% 0.205% 0.275% Index Fund Manulife International Equity Fund 8192 0.750% 0.510% 0.240% (Templeton) Manulife BlackRock International Equity 8321 0.530% 0.290% 0.240% Index Fund 8362 Manulife Sprucegrove Global Equity Fund 0.970% 0.730% 0.240%

What do lower IMFs mean for your retirement savings? Less money is deducted, so more of your money remains in your account to grow for your retirement. The table below displays the long-term benefits of paying lower IMFs. It compares the value of a single investment of $10,000, earning a 5% annual rate of return (before and after the IMF reduction). Amount Length of Annual Rate of Estimated value after 25 Illustration Only IMF Invested Investment Return Years* Before IMF $10,000 25 years 5% 0.716% $28,296 Reduction After IMF Reduction $10,000 25 years 5% 0.470% $30,101 Difference: 0.246% $1,806

1 * This example is provided for illustrative purposes only.

Reducing the annual IMF by 0.246% can affect the value of your savings over the long term. In this example, with a lower IMF, the $10,000 investment would be worth an extra $1,806 after 25 years.

To see the IMFs applied to your account, go to www.manulife.ca/GRO and log in to your secure account using your email address and password. Select My Account, then Transaction Summary from the menu options.

Both on the secure site and on your next statement, you’ll see a transaction description called Investment Fee Change, which shows a sale and repurchase of your funds on the same day to reflect the new, lower IMF. You’ll also see two rows for your personal rates of return. One rate of return reflects the previous IMF while the other reflects the new IMF. Please note: Although the number of units and unit values are different, the total dollar amount of your savings has not changed.

Dell Canada and Manulife encourage you to take an active role in managing your retirement savings and making informed choices about your investment options. Take the time to review your account regularly to ensure you are on track to meet your retirement savings goals. Information about the funds offered through your program is available at manulife.ca/dell.

Questions? If you have questions about the program, please contact Manulife’s Customer Service Centre at 1-888-727-7766.  For questions about available investment options, you can speak to one of Manulife’s Financial Education Specialists from Monday to Friday, between 9 a.m. and 5 p.m. ET.  For questions about your plan or your account, contact a Customer Service Representative from Monday to Friday, between 8 a.m. and 8 p.m. ET.

Sincerely,

Dell Global Benefits Dell Canada