dated April 22, 2021 to the Simplified Prospectus dated March 31, 2021

RESPECTING THE UNITS OF THE FOLLOWING FUNDS:

INCOME FUNDS Desjardins Short-Term Income Fund1 Desjardins Canadian Bond Fund1 GLOBAL AND INTERNATIONAL EQUITY FUNDS Desjardins Global Dividend Fund2

1 A-, I-, C-, F- and D-Class Units 2 A-, T-, I-, C-, R-, F-, S-, D- and W-Class Units

(the “Funds”) AMENDMENT NO. 1 DATED APRIL 22, 2021 TO THE SIMPLIFIED PROSPECTUS DATED MARCH 31, 2021

The Simplified Prospectus dated March 31, 2021 is hereby amended in respect of the Funds as indicated below. All of the defined terms have the meaning given in the Simplified Prospectus unless they are specifically defined in this Amendment No. 1.

GENERAL SUMMARY OF AMENDMENT

The amendment described in this document reflects the following changes made to the Funds.

1. Changes of Portfolios Sub-Managers

On or about May 25, 2021, the Manager will replace the portfolio sub-manager of the Desjardins Global Dividend Fund, Epoch Investment Partners, Inc., by Mondrian Investment Partners Limited.

2. Change to Investment Strategies

On or about May 25, 2021, the Manager will amend the investment strategies of the Desjardins Global Dividend Fund in order to reflect the investment philosophy of the new sub-manager.

3. Creation of W-Class Units for the Desjardins Short-Term Income Fund and the Desjardins Canadian Bond Fund The Manager intends to implement the above change on or about May 10, 2021. The Manager reserves the right to delay implementing all or part of the changes described in this Amendment or to refrain from implementing these changes at all.

1 AMENDMENT NO. 1 DATED APRIL 22, 2021 TO THE SIMPLIFIED PROSPECTUS DATED MARCH 31, 2021

SPECIFIC CHANGES

1. Changes of Portfolios Sub-Managers On or about May 25, 2021, the Manager will replace the portfolio sub-manager of the Desjardins Global Dividend Fund, Epoch Investment Partners, Inc., by Mondrian Investment Partners Limited. a) In the table forming the heading "Organization and Management of Desjardins Funds", the reference to "Epoch Investment Partners, Inc." is removed from the left column under the title "Portfolio Sub-Managers:". b) The following information is added to left column of the the table forming the heading "Organization and Management of Desjardins Funds", under the title "Portfolio Sub-Managers:": Mondrian Investment Partners Limited ("Mondrian") London, United Kingdom c) The third and fourth paragraphs of the second row, in the right column of the table forming the heading "Organization and Management of Desjardins Funds", are replaced by the following: d) Bernstein, ClearBridge, Impax, LSV, Wellington and Western are non-resident companies of Canada and Desjardins Global Inc. is liable for any advice provided by them to the Funds. Such liability cannot be waived by Desjardins Global Asset Management Inc. or Desjardins Trust. Altrinsic, Baillie Gifford, Comgest, First Sentier Investors, , Lombard, Mirova, Mondrian and PGIM are non-resident companies of Canada and provide advice in reliance on an exemption from the registration requirement. Desjardins Global Asset Management Inc. is liable for any advice provided by Altrinsic, Baillie Gifford, Comgest, First Sentier Investors, Lazard, Lombard, Mirova, Mondrian and PGIM to the Funds. Such liability cannot be waived by Desjardins Global Asset Management Inc. or Desjardins Trust. e) The introductory table "Fund Details" in Part B of the Desjardins Global Dividend Fund is amended to remove the reference to "Epoch Investment Partners, Inc." from section "Portfolio Sub-Manager" and add the reference to "Mondrian Investment Partners Limited".

2. Changes to Investment Strategies For the Desjardins Global Dividend Fund, on or about May 25, 2021, the Manager will amend the investment strategies in order to reflect the investment philosophy of the new sub-manager. The first four paragraphs of section "Investment Strategies" for the Fund are replaced by the following: Management of global securities is assigned to a sub-manager who combines a bottom-up approach for selecting securities with a top-down approach for evaluating countries and currencies. Added value comes mainly from the selection of securities. A robust evaluation of the fundamental value of the companies is conducted in order to identify good quality defensive securities that are undervalued on the markets. A key element of the sub-manager’s research is the use of a discount model using future dividends that are adjusted for inflation to determine the value of a company. The methodology is applied consistently to individual securities in all markets, sectors and industries. The sub-manager also conducts a detailed analysis of the companies’ financial statements in order to understand their earnings and cash flow mix as well as their ability to pay dividends. Lastly, the fundamental analysis includes meetings with company executives as well as attending industry conferences. In order to evaluate the level of risk associated with the securities, the sub-manager’s analysts develop base case, best-case and worst-case scenarios. The sub-manager believes that the most significant risk is the inability to achieve targeted returns, and, therefore, the sub-manager puts great emphasis on worst-case scenarios for equities to ensure that the portfolio’s defensive characteristics are observed. The sensitivity of companies to key variables such as interest rates and oil prices is taken into account when managing risk. The sub-manager may use equity-related securities such as American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs) to gain exposure to a particular or sector. The Fund may invest up to 100% of its assets in foreign securities and up to 10% in emerging markets securities.

2 AMENDMENT NO. 1 DATED APRIL 22, 2021 TO THE SIMPLIFIED PROSPECTUS DATED MARCH 31, 2021

3. Creation of W-Class Units for the Desjardins Short-Term Income Fund and the Desjardins Canadian Bond Fund

a) The information in the section "Total Fees Charged by the Manager" in the table "Fees and Expenses Payable by the Funds " under the heading "Fees and Expenses" is replaced by the following:

TOTAL FEES CHARGED BY THE MANAGER Management fee Fixed administration Total fees charged before taxes fees before taxes by the manager % % before taxes % (1) (2) (1) + (2) Desjardins Funds (A-, T-, I*-, C-, R-, Z- and W*-Class Units) Short-Term Income (A-, I*-, C- and W*-Class Units) 0.88 0.14 1.02 Canadian Bond (A-, I*-, C- and W*-Class Units) 1.10 0.14 1.24

b) Part B of the Desjardins Short-Term Income Fund is amended in order to add the W-Class Units: i) Rows “Date Established” and “Nature of the Securities Offered” of the introductory table “Fund Details” are replaced by the following:

Date Established A-Class Units: June 30, 1965 I-Class Units: March 23, 2010 C- and F-Class Units: November 25, 2013 D-Class Units: May 11, 2018 W-Class Units: May 10, 2021 Nature of the Securities A-, I-, C-, F-, D- and W-Class Units Offered

ii) The last sentence under section "Funds Expenses Indirectly Borne by Investors" is replaced by the following : Fees applicable to I- and W-Class Units are negotiated directly with each investor. c) Part B of the Desjardins Canadian Bond Fund is amended in order to add the W-Class Units: i) Rows “Date Established” and “Nature of the Securities Offered” of the introductory table “Fund Details” are replaced by the following:

Date Established A-Class Units: December 1, 1959 I-Class Units: January 25, 2008 C- and F-Class Units: November 25, 2013 D-Class Units: May 11, 2018 W-Class Units: May 10, 2021 Nature of the Securities A-, I-, C-, F-, D- and W-Class Units Offered

ii) The last sentence under section "Funds Expenses Indirectly Borne by Investors" is replaced by the following : Fees applicable to I- and W-Class Units are negotiated directly with each investor.

WHAT ARE YOUR LEGAL RIGHTS?

Securities legislation in some provinces and territories gives you the right to withdraw from an agreement to purchase securities within two business days of receiving the simplified prospectus or fund facts, or to cancel your purchase within 48 hours of receiving confirmation of your order. Securities legislation in some provinces and territories also allows you to cancel an agreement to purchase securities and get your money back, or to make a claim for damages if the simplified prospectus, annual information form, fund facts or financial statements misrepresent any facts. These rights must usually be exercised within certain time limits. For more information, see the applicable provisions of the securities legislation of your province or territory, or consult a legal advisor.

3 Desjardins Investments Inc. Desjardins Funds Customer Service 514 286-3499 (for the Montréal area) 1 866 666-1280 [email protected] desjardinsfunds.com