Mawer Global Small Cap Fund (Series A) As at March 31, 2018 Morningstar RatingTM:

Fund Details What Does The Fund Invest In? The Fund invests primarily in equity and equity-related securities of Fund Managers: Christian Deckart, CFA, Ph.D smaller companies around the world with less than $3 billion USD in Paul Moroz, CFA market cap at time of purchase. The amount invested in any one country will vary depending upon individual company by company opportunities Fund Inception Date: October 2, 2007 in each area. The Fund will diversify through currencies, industries, and Fund Net Asset Value: $2,628.4 million countries to increase safety, and to increase the growth and liquidity of Total Net Asset Value (Series A): $772.1 million the investments. Treasury bills or short-term investments, not Net Asset Value Per Unit: $16.10 exceeding three years to maturity, may also be used from time to time. Number of Holdings1: 72 Investor Suitability Number of Countries1: 24 Investors seeking long-term, above average growth who can tolerate significant volatility. High risk. RRSP Eligibility Yes Management Expense Ratio: 1.76% (as at Dec 31, 2017) Investment Strategy In order to achieve its investment strategy objectives, the Manager Trading Expense Ratio2: 0.11% (as at Dec 31, 2017) systematically creates a broadly diversified portfolio of wealth-creating Fund Code: MAW150 companies with excellent management teams bought at discounts to Minimum Investment: $5,000 their intrinsic values. The Manager employs a highly disciplined, research-driven, bottom-up process and long-term holding period to Net Performance* 1 Yr 3 Yr 5 Yr 10 Yr allow for investor recognition or corporate growth, and to minimize transaction costs. Mawer Global Small Cap Fund 16.9 11.8 19.5 14.6 Global Small Cap Benchmark** 12.3 10.1 14.8 9.3 Morningstar Rating 5 5 5 5 Number of Funds in Morningstar Category Global Small/Mid Cap Equity 148 148 98 56 Top 25 Holdings % Weight Equity Sector Weights % Cash & Cash Equivalents 9.0 Consumer Discretionary 11.3 n Plc 6.0 Consumer Staples 13.9 n TSURUHA Holdings, Inc. 3.9 Energy 0.9 n XP Power Ltd. 3.1 Financials 12.2 n Plc 3.0 Health Care 1.5 n 3.0 Industrials 23.9 n Bechtle AG 2.8 Information Technology 21.9 n Cembra Money Bank AG 2.7 Materials 4.8 n Constellation Software Inc. 2.6 Real Estate 0.6 n Jardine Lloyd Thompson Group plc 2.5 Telecommunication Services 0.0 n APN Outdoor Group Ltd. 2.2 Utilities 0.0 n VZ Holding AG 2.0 KWS SAAT SE Cash & Equivalents 9.0 n 1.9 Insperity, Inc. 1.8 Top 10 Countries % Hansen Technologies Limited 1.8 25.7 n MYOB Group Ltd. 1.7 Sweden 8.8 n Addtech AB Class B 1.7 United States 8.0 n KUSURI NO AOKI HOLDINGS 1.7 Germany 6.7 n Amsterdam Commodities N.V. 1.7 Japan 6.5 n Freightways Limited 1.6 5.8 n Group PLC 1.6 Switzerland 4.7 n Origin Enterprises Plc 1.6 New Zealand 3.2 n Oslo Bors VPS Holding ASA 1.4 India 3.1 n RPM International Inc. 1.3 Canada 2.6 n SYNNEX Corporation 1.3

Please see page 2 for disclosure

Fund Profiles – 1Q18 – Page 1 of 2 1 Equity holdings, excluding cash. 2 The trading expense ratio represents total commissions and other portfolio transaction costs expressed as an annualized percentage of daily average net assets during the year. * Mawer Fund returns are reported in Canadian dollars and calculated after management fees and operating expenses have been deducted. In comparison, index returns do not incur management fees or operating expenses. ** Mawer Global Small Cap Benchmark History (changes made prospectively): Oct 2007: Russell Global Small Cap Oct 2016: ACWI Small Cap (net) Total Return Index Rationale for Change: MSCI ACWI Small Cap (Net) Index is consistent with using MSCI benchmarks in other asset classes outside of Canada and the United States. In addition, the MSCI ACWI Small Cap (Net) Index follows the Global Investment Classification Standards (GICS) whereas the Russell Global Small Cap Index does not. Benchmark returns are rebalanced on a monthly basis. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts and the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Mawer Funds are managed by Mawer Investment Management Ltd. Additionally for money market funds, the performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. © 2018 Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The Morningstar Rating, commonly referred to as the Star Rating, relates how a fund has performed on a risk-adjusted basis against its Morningstar category peers and is subject to change every month. Funds are ranked by their Morningstar Risk-Adjusted Return scores with the top 10% of funds in a category receiving 5 stars, the top 22.5% receiving 4 stars; a fund in the middle 35% receiving 3 stars; and a fund in the bottom 22.5% receiving 2 stars. The Overall Star Rating for a fund is a weighted combination of its 3, 5 and 10 year ratings. Overall ratings are adjusted where a fund has less than 5 or 10 years of history. For greater detail see www.morningstar.ca.

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