Fund Facts Booklet Dated December 31, 2020

RIDER TO THE ECOFLEX FUND FACTS BOOKLET DATED DECEMBER 31, 2020

Ecoflex Contract issued by Industrial Alliance Insurance and Financial Services Inc. 1080 Grande Allée West, PO Box 1907, Station Terminus Quebec City, Quebec G1K 7M3 1-844-442-4636 [email protected]

On August 31, 2021, the Fund Facts booklet (hereinafter the “Booklet”), which forms part of the Information Folder related to the Ecoflex Contract is amended to reflect the following change:

— The investment strategy of the following fund has been updated: - International Equity

LIST OF AMENDEMENTS

Effective August 31, 2021, this rider amends the Booklet in accordance with the following provisions:

1. The investment strategies have been updated as below:

1.1 International Equity: The Fund is composed of a selection of quality international equities with good growth potential and attractive value, in companies located outside North America.

CERTIFICATION

Industrial Alliance Insurance and Financial Services Inc. certifies that the Booklet, as amended by this rider, briefly and simply discloses all material facts relating to the variable nature of the Funds offered under the Individual Variable Annuity Contract – Ecoflex.

Denis Ricard Jennifer Dibblee President and Chief Executive Officer Vice-President, Legal Services Corporate Secretary

This rider, dated August 31, 2021, forms an integral part of the Fund Facts Booklet and the EcoflexInformation Folder.

iA Financial Group is a business name and trademark of

Industrial Alliance Insurance and Financial Services Inc. ia.ca ACC F14-3A-5(21-09) Ecoflex / As at December 31, 2020 Fund Facts INVESTMENT FUNDS

TABLE OF CONTENTS

FOCUS FUNDS CANADIAN EQUITY FUNDS Focus Prudent ...... 2 Strategic Equity Income ...... 48 Focus Moderate ...... 4 Dividend Growth ...... 50 Focus Balanced ...... 6 Dividend ...... 52 Focus Growth ...... 8 Canadian Equity Index ...... 54 Focus Aggressive ...... 10 Fidelity True North® ...... 56 Canadian Equity Growth ...... 58 SELECTION FUNDS Fidelity Canadian Opportunities ...... 60 Selection Prudent ...... 12 North American Equity ...... 62 Selection Moderate ...... 14 Selection Balanced ...... 16 U.S. & INTERNATIONAL EQUITY FUNDS Selection Growth ...... 18 Global Equity Index ACWI (BlackRock) ...... 64 Selection Aggressive ...... 20 Global Dividend (Dynamic) ...... 66 Global Equity ...... 68 INCOME FUNDS Global Opportunities (Loomis Sayles) ...... 70 Money Market ...... 22 Fidelity NorthStar® ...... 72 Short Term Bond ...... 24 Bond ...... 26 International Equity Index (BlackRock) ...... 74 Core Plus Bond (Wellington Square) ...... 28 International Equity ...... 76 Fidelity European Equity ...... 78 DIVERSIFIED FUNDS U .S . Equity Index (BlackRock) ...... 80 Diversified Security ...... 30 Thematic Innovation ...... 82 Diversified ...... 32 U .S . Equity ...... 84 Diversified Opportunity ...... 34 U .S . Dividend Growth ...... 86 SRI Moderate (Inhance) ...... 36 SRI Balanced (Inhance) ...... 38 SPECIALTY FUNDS SRI Growth (Inhance) ...... 40 Asian Pacific (Dynamic) ...... 88 Diversified Income ...... 42 Emerging Markets (Jarislowsky Fraser) ...... 90 Strategic Income ...... 44 Global Health Care (Renaissance) ...... 92 Global Diversified (Loomis Sayles) ...... 46 Real Estate Income ...... 94 U .S . DAQ Index ...... 96

1 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex FOCUS PRUDENT FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 30, 2002 Management Expense Ratio (MER)1: 3.19% Total Fund Value: $237.9 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $17.94 Portfolio Turnover Rate: 40.89% Number of Units Outstanding: 10,873,360 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which mainly invest in Canadian fixed-income securities. The underlying funds may invest in Canadian equities and foreign equities. Top investments of the Fund Investment segmentation of the Fund Industrial Alliance Bond Fund2 54.98% Fixed Income Funds 69.93% PIMCO Monthly Income Fund (Canada) 6.98% Global Equity Funds 14.77% Industrial Alliance Canadian Equity Growth Fund 6.44% Canadian Equity Funds 10.39% Dynamic Global Dividend Fund, Series O 4.89% U.S. Equity Funds 5.07% Industrial Alliance International Equity Fund 4.59% Short Term and others -0.16% IA Clarington Strategic Corporate Bond Fund, Series I 3.99% Total 100.00% IA Clarington Floating Rate Income Fund, Series I 3.98% Industrial Alliance Dividend Fund 3.95% Fidelity Global Concentrated Equity Institutional Trust 3.76% Industrial Alliance Thematic Innovation Fund 2.80% JF Emerging Markets Equity Fund 1.53% Industrial Alliance U.S. Equity Multifactor (iAIM) 1.26% IA Clarington U.S. Dividend Growth Fund, Series I 1.01% Other Assets -0.16% Total 100.00% Total investments: 13 WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks a regular long-term return Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,292. RISK LEVEL This works out to an average return of 2.60% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 9 years and down in value 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. % 7.5 7.42 The MER includes the insurance cost for the guarantees. For details, 6.08 5.33 please refer to the Information Folder and the contract. 5.0 3.14 2.86 2.5 1.81 1.49 1.39 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 0.99 and can terminate the waiver at any time without notice. For the period ending 0.0 December 31, 2020, the waiver was set at 0.05%. -2.5 2 For details on the Industrial Alliance Bond Fund top investments refer to the corresponding Fund facts included in this document. -5.0 -4.09 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

2 FOCUS PRUDENT FUND

HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the Fund. The ongoing fees and expenses are different according to the category of each fund. The following sales charge will apply, see Information Folder or contract for full details or discuss with your life insurance agent.

Sales Charge Option What You Pay How It Works

Surrender Fees The deferred sales charge is a fixed rate and is deducted from the amount you surrender. If you surrender within: When you invest in the fund, iA Financial Group pays a commission of up to 5.6% to your 1st and 2nd year 5% life insurance agent and his/her agency. rd Any deferred sales charges paid go to iA Financial Group. Deferred Sales Charge 3 year 4% 4th year 3% You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. 5th and 6th year 2% You may switch to units of another fund under the contract at any time without paying a After 6th year 0% deferred sales charge.

ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the guarantees. You don’t pay these expenses directly but they will reduce the return on your investment. For details about how the guarantees work, please refer to the Information Folder and the contract. MER* Guarantee Option Maturity Death (Annual rate as a % of the fund value) Full Guarantee 100% 100% 3.19%

*MER shown may differ from actual MER.

TRAILING COMMISSION Each month, iA Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in the fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees.

OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies then in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund.

WHAT IF I CHANGE MY MIND? For more information This summary may not contain all the You may change your mind within two business days of the earlier of: information you need. Please refer • the date you received confirmation or to the Information Folder and the • five business days after it is mailed. contract. You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: iA Financial Group 1080 Grande Allée West • the date you received confirmation of the transaction or PO Box 1907, Station Terminus • five business days after it is mailed. Quebec City, QC G1K 7M3 In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, 1 844 442-4636 by e-mail, fax or letter, that you want to cancel. The amount returned will be the lesser of: • the value of the premium invested or Website: ia.ca • the value of the investment on the valuation day following the day iA Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid.

3 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex FOCUS MODERATE FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 30, 2002 Management Expense Ratio (MER)1: 3.24% Total Fund Value: $284.6 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $19.39 Portfolio Turnover Rate: 34.21% Number of Units Outstanding: 12,342,499 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds that place a slight emphasis on Canadian fixed-income securities. The underlying funds may also invest in Canadian equities and foreign equities. Top investments of the Fund Investment segmentation of the Fund Industrial Alliance Bond Fund 41.40% Fixed Income Funds 54.82% Industrial Alliance Canadian Equity Growth Fund 9.15% Global Equity Funds 22.86% Dynamic Global Dividend Fund, Series O 8.19% Canadian Equity Funds 15.07% Industrial Alliance International Equity Fund 6.61% U.S. Equity Funds 7.34% Fidelity Global Concentrated Equity Institutional Trust 6.03% Short Term and others -0.09% Industrial Alliance Dividend Fund 5.92% Total 100.00% PIMCO Monthly Income Fund (Canada) 5.47% IA Clarington Strategic Corporate Bond Fund, Series I 3.98% IA Clarington Floating Rate Income Fund, Series I 3.97% Industrial Alliance Thematic Innovation Fund 3.56% JF Emerging Markets Equity Fund 2.03% IA Clarington U.S. Dividend Growth Fund, Series I 2.02% Industrial Alliance U.S. Equity Multifactor (iAIM) 1.76% Other Assets -0.09% Total 100.00% Total investments: 13 WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks a high long-term return Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,348. RISK LEVEL This works out to an average return of 3.03% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 8 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. % 10 The MER includes the insurance cost for the guarantees. For details, 9.02 6.95 6.48 please refer to the Information Folder and the contract. 5.14 5 4.12 2.66 2.73 1.00 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 0 and can terminate the waiver at any time without notice. For the period ending -1.62 December 31, 2020, the waiver was set at 0.05%. -5 -5.39

-10 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

4 FOCUS MODERATE FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

5 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex FOCUS BALANCED FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 30, 2002 Management Expense Ratio (MER)1: 3.27% Total Fund Value: $412.5 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $20.79 Portfolio Turnover Rate: 33.69% Number of Units Outstanding: 17,231,904 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds that favor a balance between Canadian equities, foreign equities and fixed-income securities. Top investments of the Fund Investment segmentation of the Fund Industrial Alliance Bond Fund 27.93% Fixed Income Funds 39.86% Industrial Alliance Canadian Equity Growth Fund 12.86% Global Equity Funds 29.72% Dynamic Global Dividend Fund, Series O 9.72% Canadian Equity Funds 20.75% Industrial Alliance International Equity Fund 8.90% U.S. Equity Funds 9.86% Fidelity Global Concentrated Equity Institutional Trust 8.04% Short Term and others -0.19% Industrial Alliance Dividend Fund 7.89% Total 100.00% Industrial Alliance Thematic Innovation Fund 5.08% PIMCO Monthly Income Fund (Canada) 3.98% IA Clarington Strategic Corporate Bond Fund, Series I 3.98% IA Clarington Floating Rate Income Fund, Series I 3.97% JF Emerging Markets Equity Fund 3.05% Industrial Alliance U.S. Equity Multifactor (iAIM) 2.51% IA Clarington U.S. Dividend Growth Fund, Series I 2.27% Other Assets -0.18% Total 100.00% Total investments: 13 WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to generate a superior long-term return Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,402. RISK LEVEL This works out to an average return of 3.43% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 8 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 15 11.17 10.62 10 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.82 5 5.08 4.91 and can terminate the waiver at any time without notice. For the period ending 3.90 3.69 1.04 December 31, 2020, the waiver was set at 0.05%. 0

-5 -4.66 -6.75 -10 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

6 FOCUS BALANCED FUND

Sales Charge Option What You Pay How It Works

The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the guarantees. You don’t pay these expenses directly but they will reduce the return on your investment. For details about how the guarantees work, please refer to the Information Folder and the contract.

MER* Guarantee Option Maturity Death (Annual rate as a % of the fund value) Full Guarantee 100% 100% 3.27%

*MER shown may differ from actual MER.

WHAT IF I CHANGE MY MIND? FOR MORE INFORMATION You may change your mind within two business days of the earlier of: This summary may not contain all the • the date you received confirmation or information you need. Please refer • five business days after it is mailed. to the Information Folder and the You may also change your mind about subsequent transactions you make under the contract within two contract. business days of the earlier of: iA Financial Group • the date you received confirmation of the transaction or 1080 Grande Allée West • five business days after it is mailed. PO Box 1907, Station Terminus In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, Quebec City, QC G1K 7M3 by e-mail, fax or letter, that you want to cancel. The amount returned will be the lesser of: 1 844 442-4636

• the value of the premium invested or • the value of the investment on the valuation day following the day iA Financial Group received your Website: ia.ca request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid.

7 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex FOCUS GROWTH FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 30, 2002 Management Expense Ratio (MER)1: 3.30% Total Fund Value: $145.3 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $22.18 Portfolio Turnover Rate: 35.45% Number of Units Outstanding: 5,759,398 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds that place a slight emphasis on Canadian and foreign equities. Top investments of the Fund Investment segmentation of the Fund Industrial Alliance Bond Fund 17.39% Global Equity Funds 37.21% Industrial Alliance Canadian Equity Growth Fund 15.77% Canadian Equity Funds 25.60% Dynamic Global Dividend Fund, Series O 12.24% Fixed Income Funds 24.82% Industrial Alliance International Equity Fund 10.90% U.S. Equity Funds 12.35% Fidelity Global Concentrated Equity Institutional Trust 10.02% Short Term and others 0.02% Industrial Alliance Dividend Fund 9.83% Total 100.00% Industrial Alliance Thematic Innovation Fund 6.84% JF Emerging Markets Equity Fund 4.05% Industrial Alliance U.S. Equity Multifactor (iAIM) 3.00% IA Clarington U.S. Dividend Growth Fund, Series I 2.51% PIMCO Monthly Income Fund (Canada) 2.48% IA Clarington Strategic Corporate Bond Fund, Series I 2.48% IA Clarington Floating Rate Income Fund, Series I 2.47% Other Assets 0.02% Total 100.00% Total investments: 13 WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to generate a superior long-term return Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,456. RISK LEVEL This works out to an average return of 3.83% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 8 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 20 15.50 12.16 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 10 7.37 and can terminate the waiver at any time without notice. For the period ending 6.03 5.13 December 31, 2020, the waiver was set at 0.05%. 4.67 4.66 1.07 0

-10 -7.66 -8.14 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

8 FOCUS GROWTH FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

9 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex FOCUS AGGRESSIVE FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 30, 2002 Management Expense Ratio (MER)1: 3.34% Total Fund Value: $47.0 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $23.48 Portfolio Turnover Rate: 34.68% Number of Units Outstanding: 1,803,179 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds that favor Canadian and foreign equities. Top investments of the Fund Investment segmentation of the Fund Industrial Alliance Canadian Equity Growth Fund 19.64% Global Equity Funds 44.32% Dynamic Global Dividend Fund, Series O 14.29% Canadian Equity Funds 30.91% Industrial Alliance International Equity Fund 13.44% U.S. Equity Funds 14.97% Fidelity Global Concentrated Equity Institutional Trust 12.03% Fixed Income Funds 9.93% Industrial Alliance Dividend Fund 11.27% Short Term and others -0.13% Industrial Alliance Bond Fund 6.96% Total 100.00% Industrial Alliance Thematic Innovation Fund 6.16% IA Clarington U.S. Dividend Growth Fund, Series I 5.06% JF Emerging Markets Equity Fund 4.56% Industrial Alliance U.S. Equity Multifactor (iAIM) 3.75% PIMCO Monthly Income Fund (Canada) 0.99% IA Clarington Strategic Corporate Bond Fund, Series I 0.99% IA Clarington Floating Rate Income Fund, Series I 0.99% Other Assets -0.13% Total 100.00% Total investments: 13 WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to maximize the long-term return Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,505. RISK LEVEL This works out to an average return of 4.17% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 8 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 30

20 20.01 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 13.73 10 and can terminate the waiver at any time without notice. For the period ending 6.97 6.39 7.57 4.34 5.59 December 31, 2020, the waiver was set at 0.05%. 1.06 0

-10 -10.60 -9.50 -20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

10 FOCUS AGGRESSIVE FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

11 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex SELECTION PRUDENT FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 2, 2013 Management Expense Ratio (MER)1: 2.98% Total Fund Value: $107.7 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $12.04 Portfolio Turnover Rate: 116.37% Number of Units Outstanding: 8,742,326 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests conservatively in units of a number of underlying funds which emphasize investments in Canadian fixed-income investments. The underlying funds also invest in Canadian equities and foreign equities. Top 10 investments of the Fund Investment segmentation of the Fund

Industrial Alliance Bond Fund2 52.02% Fixed Income Funds 70.06% IA Clarington Loomis Global Multifactor Bond Fund Class I 18.04% Canadian Equity Funds 13.76% Industrial Alliance Canadian Equity Growth Fund 10.42% U.S. Equity Funds 6.78% Industrial Alliance International Equity Fund 6.20% Global Equity Funds 6.20% Industrial Alliance Thematic Innovation Fund 5.28% Short Term and others 3.20% Industrial Alliance Money Market Fund 3.37% Total 100.00% IA Clarington Canadian Conservative Equity Fund, Series I 3.34% Fidelity Insights Investment Trust 1.50% Other Assets -0.17% Total 100.00%

Total investments: 14

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks a regular long-term return Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,204. RISK LEVEL This works out to an average return of 2.65% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 7 years. In this period, the fund was up in value 5 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 7.5 6.90 6.08

5.0 4.36 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 3.30 and can terminate the waiver at any time without notice. For the period ending 2.5 1.99 December 31, 2020, the waiver was set at 0.05%. 0.0 2 For details on the Industrial Alliance Bond Fund top investments refer to the corresponding -0.02 Fund facts included in this document. -2.5

-5.0 -3.75 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

12 SELECTION PRUDENT FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

13 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex SELECTION MODERATE FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 2, 2013 Management Expense Ratio (MER)1: 3.13% Total Fund Value: $187.0 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $12.18 Portfolio Turnover Rate: 128.99% Number of Units Outstanding: 14,950,431 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which slightly emphasize investments in Canadian fixed-income investments. The underlying funds also invest in Canadian equities and foreign equities. Top 10 investments of the Fund Investment segmentation of the Fund

Industrial Alliance Bond Fund 41.66% Fixed Income Funds 54.57% Industrial Alliance International Equity Fund 14.08% Canadian Equity Funds 15.59% IA Clarington Loomis Global Multifactor Bond Fund Class I 12.91% Global Equity Funds 14.08% Industrial Alliance Canadian Equity Growth Fund 11.26% U.S. Equity Funds 12.27% Industrial Alliance Thematic Innovation Fund 9.37% Short Term and others 3.49% IA Clarington Canadian Conservative Equity Fund, Series I 4.33% Total 100.00% Industrial Alliance Money Market Fund 3.32% Fidelity Insights Investment Trust 2.91% Other Assets 0.16% Total 100.00%

Total investments: 16

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks a high long-term return Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,218. RISK LEVEL This works out to an average return of 2.82% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 7 years. In this period, the fund was up in value 5 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 10 8.42

6.18 1 5.68 iA Financial Group is currently waiving a portion of the operating expenses for this fund 5

and can terminate the waiver at any time without notice. For the period ending 2.68 December 31, 2020, the waiver was set at 0.05%. 2.06 0 -0.15

-5 -4.91 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

14 SELECTION MODERATE FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

15 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex SELECTION BALANCED FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 2, 2013 Management Expense Ratio (MER)1: 3.27% Total Fund Value: $244.3 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $12.54 Portfolio Turnover Rate: 141.91% Number of Units Outstanding: 18,913,527 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which emphasize a balance between investments in Canadian fixed-income investments, Canadian equities and foreign equities. Top 10 investments of the Fund Investment segmentation of the Fund

Industrial Alliance Bond Fund 29.28% Fixed Income Funds 39.63% Industrial Alliance International Equity Fund 20.28% Canadian Equity Funds 21.05% Industrial Alliance Canadian Equity Growth Fund 15.51% Global Equity Funds 20.28% Industrial Alliance Thematic Innovation Fund 12.42% U.S. Equity Funds 15.77% IA Clarington Loomis Global Multifactor Bond Fund Class I 10.35% Short Term and others 3.27% IA Clarington Canadian Conservative Equity Fund, Series I 5.53% Total 100.00% Fidelity Insights Investment Trust 3.35% Industrial Alliance Money Market Fund 3.30% Other Assets -0.02% Total 100.00%

Total investments: 16

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to generate a superior long-term return Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,254. RISK LEVEL This works out to an average return of 3.25% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 7 years. In this period, the fund was up in value 5 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 15

10 10.05 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.38 7.01 5 and can terminate the waiver at any time without notice. For the period ending 3.39 December 31, 2020, the waiver was set at 0.05%. 2.20 0 -0.32 -5 -6.08 -10 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

16 SELECTION BALANCED FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

17 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex SELECTION GROWTH FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 2, 2013 Management Expense Ratio (MER)1: 3.45% Total Fund Value: $101.4 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $12.93 Portfolio Turnover Rate: 145.22% Number of Units Outstanding: 7,574,755 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which slightly emphasize investments in Canadian equities and foreign equities. The underlying funds also invest in Canadian fixed-income investments. Top 10 investments of the Fund Investment segmentation of the Fund

Industrial Alliance International Equity Fund 27.65% Canadian Equity Funds 27.84% Industrial Alliance Canadian Equity Growth Fund 21.40% Global Equity Funds 27.65% Industrial Alliance Thematic Innovation Fund 18.33% U.S. Equity Funds 22.49% Industrial Alliance Bond Fund 14.09% Fixed Income Funds 19.97% IA Clarington Canadian Conservative Equity Fund, Series I 6.44% Short Term and others 2.05% IA Clarington Loomis Global Multifactor Bond Fund Class I 5.88% Total 100.00% Fidelity Insights Investment Trust 4.16% Industrial Alliance Money Market Fund 1.91% Other Assets 0.14% Total 100.00%

Total investments: 16

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to generate a superior long-term return Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,293. RISK LEVEL This works out to an average return of 3.69% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 7 years. In this period, the fund was up in value 5 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 15 11.54 10 7.66 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.69 5 4.46 and can terminate the waiver at any time without notice. For the period ending 3.08 December 31, 2020, the waiver was set at 0.05%. 0 -0.43 -5

-7.18 -10 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

18 SELECTION GROWTH FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

19 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex SELECTION AGGRESSIVE FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 2, 2013 Management Expense Ratio (MER)1: 3.62% Total Fund Value: $26.0 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $13.14 Portfolio Turnover Rate: 169.00% Number of Units Outstanding: 1,900,590 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests aggressively in units of a number of underlying funds which emphasize investments in Canadian equities and foreign equities. The underlying funds also invest in Canadian fixed-income investments. Top 10 investments of the Fund Investment segmentation of the Fund

Industrial Alliance International Equity Fund 40.18% U.S. Equity Funds 44.98% Industrial Alliance Thematic Innovation Fund 35.51% Global Equity Funds 40.18% Fidelity Insights Investment Trust 9.47% Canadian Equity Funds 12.37% IA Clarington Canadian Conservative Equity Fund, Series I 7.19% Short Term and others 1.50% Industrial Alliance Canadian Equity Growth Fund 5.18% Fixed Income Funds 0.97% Industrial Alliance Money Market Fund 1.66% Total 100.00% Industrial Alliance Bond Fund 0.49% IA Clarington Loomis Global Multifactor Bond Fund Class I 0.48% Other Assets -0.16% Total 100.00%

Total investments: 14

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to maximize the long-term return Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,314. RISK LEVEL This works out to an average return of 3.93% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 7 years. In this period, the fund was up in value 5 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 15 12.82 10 8.30 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.95 4.64 and can terminate the waiver at any time without notice. For the period ending 5 3.64 December 31, 2020, the waiver was set at 0.05%. 0 -0.26 -5

-10 -8.53 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

20 SELECTION AGGRESSIVE FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

21 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex MONEY MARKET FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: February 1, 1994 Management Expense Ratio (MER)1: 1.66% Total Fund Value: $567.2 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $17.37 Portfolio Turnover Rate: - Number of Units Outstanding: 29,273,920 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in Canadian short-term securities guaranteed by Canadian governments and certain companies.

Top 10 investments of the Fund Investment segmentation of the Fund

Government of Canada, 0.109%, 2021-03-18 47.49% Treasury bills 100.07% Government of Canada, 0.131%, 2021-04-29 15.55% Cash and Cash Equivalents -0.07% Government of Canada, 0.169%, 2021-02-18 14.93% Total 100.00% Government of Canada, 0.125%, 2021-04-15 12.46% Government of Canada, 0.145%, 2021-05-06 3.85% Government of Canada, 0.153%, 2021-05-13 1.48% Government of Canada, 0.142%, 2021-06-10 0.89% Government of Canada, 0.170%, 2021-03-04 0.72% Government of Canada, 0.173%, 2021-02-11 0.69% Government of Canada, 0.174%, 2021-01-21 0.65% Total 98.71%

Total investments: 14

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks interest income and preservation of capital Returns shown are after the MER has been deducted. • invests with very low risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the short term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,028. RISK LEVEL This works out to an average return of 0.28% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 10 years and down in ARE THERE ANY GUARANTEES? value 0 year. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 0.8 0.70

1 0.6 iA Financial Group is currently waiving a portion of the operating expenses for this fund 0.52 and can terminate the waiver at any time without notice. For the period ending 0.46 December 31, 2020, the waiver was set at 0.05%. 0.4

0.20 0.19 0.2 0.16 0.17 0.14 0.12 0.12

0.0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

22 MONEY MARKET FUND

Sales Charge Option What You Pay How It Works

Surrender Fees* The deferred sales charge is a fixed rate and is deducted from the amount you surrender. If you surrender within: When you invest in the fund, iA Financial Group pays a commission of up to 5.6% to your 1st and 2nd year 5% life insurance agent and his/her agency. rd Any deferred sales charges paid go to iA Financial Group. Deferred Sales Charge 3 year 4% 4th year 3% You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. 5th and 6th year 2% You may switch to units of another fund under the contract at any time without paying a After 6th year 0% deferred sales charge. * Only apply if the investment results from a switch

*MER shown may differ from actual MER.

TRAILING COMMISSION Each month, iA Financial Group pays a trailing commission of up to 0.0292% of the monthly average market value of your investment in the fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees.

23 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex SHORT TERM BOND FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 31, 1997 Management Expense Ratio (MER)1: 2.41% Total Fund Value: $223.8 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $15.88 Portfolio Turnover Rate: 212.37% Number of Units Outstanding: 10,407,886 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund mainly invests in bonds issued and guaranteed by Canadian governments and corporations.

Top 10 investments of the Fund Investment segmentation of the Fund

Province of Ontario, 3.500%, 2024-06-02 4.60% Corporates 55.32% Province of Ontario, 2.600%, 2025-06-02 4.24% Provinces 24.88% Province of Ontario, 2.850%, 2023-06-02 3.18% Short Term and others 7.94% Province of Ontario, 1.750%, 2025-09-08 2.85% Municipalities and Subsidized 5.05% Province of Ontario, 2.400%, 2026-06-02 2.80% Canada 3.47% Canada Housing Trust, 1.900%, 2026-09-15 2.77% Foreign Bonds 3.34% Province of Ontario, 2.600%, 2023-09-08 2.59% Total 100.00% Bell Canada, 2.750%, 2025-01-29 2.05% Province of Manitoba, 2.450%, 2025-06-02 1.94% Bank of Montreal, 2.280%, 2024-07-29 1.57% Total 28.59%

Total investments: 179

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks a reasonably high return and capital protection Returns shown are after the MER has been deducted. • invests with low risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the medium to long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,067. RISK LEVEL This works out to an average return of 0.65% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 6 years and down in ARE THERE ANY GUARANTEES? value 4 years. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % 4 please refer to the Information Folder and the contract. 3.60

2.74 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 2 and can terminate the waiver at any time without notice. For the period ending 1.10 1.16 December 31, 2020, the waiver was set at 0.05%. 0.52 0.56 0 -0.24 -0.64 -0.77 -2 -1.46 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

24 SHORT TERM BOND FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

TRAILING COMMISSION Each month, iA Financial Group pays a trailing commission of up to 0.058% of the monthly average market value of your investment in the fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees.

25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex BOND FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: February 15, 1993 Management Expense Ratio (MER)1: 2.43% Total Fund Value: $3,471.7 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $31.68 Portfolio Turnover Rate: 219.90% Number of Units Outstanding: 28,926,515 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund is composed primarily of quality bond securities from Canadian governments and corporations.

Top 10 investments of the Fund Investment segmentation of the Fund

Industrial Alliance Canadian Corporate Bond Fund 36.51% Corporates 35.89% Government of Canada, 0.500%, 2030-12-01 4.13% Provinces 33.82% Government of Canada, 2.000%, 2051-12-01 2.96% Canada 10.77% Vanguard Short-Term Corporate Bond ETF 2.69% Investment Fund Units 5.95% Province of Ontario, 1.350%, 2030-12-02 2.19% Municipalities and Subsidized 5.68% Province of Ontario, 1.750%, 2025-09-08 1.98% Short Term and others 5.26% Province of Alberta, 2.900%, 2028-12-01 1.51% Foreign bonds 2.63% Province of British Columbia, 5.700%, 2029-06-18 1.48% Total 100.00% Province of Ontario, 3.500%, 2043-06-02 1.34% Province of Ontario, 1.050%, 2027-09-08 1.33% Total 56.12%

Total investments: 244

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to maximize the returns from interest income and capital Returns shown are after the MER has been deducted. appreciation Important: Past performance does not indicate how the fund will perform in the • invests with low risk tolerance future. Also, your actual return will depend on the guarantee option you choose, • is planning to invest for the medium to long term any changes you made to your investment and your personal tax situation. AVERAGE RETURN HOW RISKY IS IT? The value of your investment can go down. Please refer to the Information A person who invested $1,000 in the fund 10 years ago (or since the date Folder for further details. it was first offered under Ecoflex if less than 10 years) now has $1,279. This works out to an average return of 2.49% a year. RISK LEVEL YEAR-BY-YEAR RETURNS Low to Moderate Low moderate Moderate to high High This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 8 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. % The MER includes the insurance cost for the guarantees. For details, 8 7.70 6.37 6.59 please refer to the Information Folder and the contract. 6 4.92 4 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 2.00 2 1.25 and can terminate the waiver at any time without notice. For the period ending 0.85 December 31, 2020, the waiver was set at 0.05%. 0 0.19 -2 -1.09

-4 -3.26 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

26 BOND FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

27 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex CORE PLUS BOND (WELLINGTON SQUARE) FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 3, 2012 Management Expense Ratio (MER)1: 2.76% Total Fund Value: $40.6 million Portfolio Advisor: Wellington Square Net Asset Value per Unit: $11.26 Portfolio Turnover Rate: 14.38% Number of Units Outstanding: 3,513,035 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Core Plus Bond Fund, which mainly invests in bonds including government bonds, investment grade bonds and high yield bonds, as well as other income-producing securities such as asset-backed securities and senior floating rate loans. Top 10 investments of the underlying fund Investment segmentation of the underlying fund Harvest Health & Recreation, 0.000%, 2022-12-19 1.80% Canadian Investment Grade Corporate Bonds 35.00% Metropolitan Life Global Funding I, 3.394%, 2030-04-09 1.70% U.S. Investment Grade Corporate Bonds 14.80% National Australia Bank Limited, Fixed - Floating Rate, Asset-Backed Securities 12.20% 3.515%, 2030-06-12 1.60% Canadian High Yield Corporate Bonds 11.80% Air Canada, 4.750%, 2023-10-06 1.60% Senior Loans 10.70% Fore 8 Developments Inc., 0.000%, 2020-12-15 1.50% Foreign Investment Grade Corporate Bonds 7.40% Royal Bank of Canada, 4.500%, 2080-11-24 1.40% U.S. High Yield Corporate Bonds 3.60% Brookfield Porperty Finance, 3.926%, 2025-08-24 1.30% Short Term and others 2.90% Mcap Commercial Lp, 3.384%, 2027-11-26 1.30% Preferred Equity 1.60% Aviva Plc, 4.000%, 2030-10-02 1.30% Total 100.00% Athene Global Funding, 2.100%, 2025-09-24 1.20% Total 14.70% Total investments: 210

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks income and the potential for capital appreciation Returns shown are after the MER has been deducted. • invests with low risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the medium to long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,050. RISK LEVEL This works out to an average return of 0.60% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 8 years and how the underlying fund performed for 2 years before that. If the ARE THERE ANY GUARANTEES? segregated fund had existed during this period, its return would likely have This fund is offered under an insurance contract. It comes with guarantees been slightly lower. In this period, the funds were up in value 8 years and that may protect your investment if the markets go down. down in value 2 years. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 4 3.54 3.05 3.08 2.87

1 2 iA Financial Group is currently waiving a portion of the operating expenses for this fund 1.18 0.52 0.36 and can terminate the waiver at any time without notice. For the period ending 0.10 December 31, 2020, the waiver was set at 0.05%. 0 -0.89 Fund -2 -2.26 Underlying fund -4 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

28 CORE PLUS BOND (WELLINGTON SQUARE) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

29 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex DIVERSIFIED SECURITY FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 31, 1998 Management Expense Ratio (MER)1: 3.17% Total Fund Value: $668.1 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $22.82 Portfolio Turnover Rate: 291.66% Number of Units Outstanding: 22,523,464 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests through a careful selection of categories of fixed-income securities from the federal and provincial governments and corporations as well as Canadian and foreign equities of large capitalization companies. Top 10 investments of the Fund Investment segmentation of the Fund

Industrial Alliance Canadian Corporate Bond Fund 15.38% Canadian Bonds 46.59% Industrial Alliance Canadian Equity (iAIM) 9.50% Canadian Equity 19.16% Industrial Alliance International Equity Fund 6.47% Foreign Equity 17.02% iShares iBoxx $ Investment Grade Corporate Bond ETF 5.14% Foreign Bonds 10.76% iShares J.P. Morgan USD Emerging Markets Bond ETF 4.38% Short Term and others 6.47% Province of Ontario, 1.750%, 2025-09-08 4.35% Total 100.00% Industrial Alliance Dividend Fund 3.97% Government of Canada, 0.109%, 2021-03-18 3.70% Industrial Alliance Thematic Innovation Fund 3.45% Province of Ontario, 2.050%, 2030-06-02 3.44% Total 59.78%

Total investments: 219

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks regular long-term revenues as well as some capital protection Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,330. RISK LEVEL This works out to an average return of 2.90% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 9 years and down in ARE THERE ANY GUARANTEES? value 1 year. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 10 8.00 7.24

1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 5 4.79 4.49 and can terminate the waiver at any time without notice. For the period ending 2.97 2.53 December 31, 2020, the waiver was set at 0.05%. 2.06 0.79 0.98 0

-5 -4.36 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

30 DIVERSIFIED SECURITY FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

31 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex DIVERSIFIED FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: February 15, 1993 Management Expense Ratio (MER)1: 3.17% Total Fund Value: $2,160.3 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $46.16 Portfolio Turnover Rate: 167.56% Number of Units Outstanding: 37,639,058 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests through a balanced distribution of investments among the fund’s asset classes: fixed-income securities, Canadian equities and foreign equities. The equity portion is mainly invested in securities equities of large capitalization companies. Top 10 investments of the Fund Investment segmentation of the Fund

Industrial Alliance Canadian Equity (iAIM) 26.19% Canadian Equity 39.71% Industrial Alliance Canadian Corporate Bond Fund 10.03% Canadian Bonds 30.76% Industrial Alliance International Equity Fund 6.91% Foreign Equity 23.00% Industrial Alliance Thematic Innovation Fund 6.15% Short Term and others 5.29% Industrial Alliance Dividend Fund 5.96% Foreign Bonds 1.24% Industrial Alliance Canadian Equity Small Cap Fund 5.07% Total 100.00% Industrial Alliance Global True Conviction Fund 3.86% Province of Ontario, 1.750%, 2025-09-08 2.89% Industrial Alliance US Equity (Currency Unhedged) Fund 2.74% Government of Canada, 0.109%, 2021-03-18 2.72% Total 72.52%

Total investments: 214

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to maximize a long-term return with low risks Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,470. RISK LEVEL This works out to an average return of 3.93% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 8 years and down in ARE THERE ANY GUARANTEES? value 2 years. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 15

11.49 10.93 10 1 7.86 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.12 and can terminate the waiver at any time without notice. For the period ending 5 4.20 3.58 3.87 2.70 December 31, 2020, the waiver was set at 0.05%. 0

-5 -3.35

-6.70 -10 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

32 DIVERSIFIED FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

33 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex DIVERSIFIED OPPORTUNITY FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 31, 1998 Management Expense Ratio (MER)1: 3.16% Total Fund Value: $452.7 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $29.52 Portfolio Turnover Rate: 156.63% Number of Units Outstanding: 12,757,857 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests through careful diversification of Canadian fixed-income securities, Canadian equities and foreign equities. The fund mainly invests in equities of large capitalization companies and fixed-income securities. Top 10 investments of the Fund Investment segmentation of the Fund

Industrial Alliance Canadian Equity (iAIM) 40.04% Canadian Equity 56.20% Industrial Alliance Canadian Equity Small Cap Fund 8.80% Foreign Equity 24.19% Industrial Alliance Dividend Fund 7.36% Canadian Bonds 13.84% Industrial Alliance Thematic Innovation Fund 7.14% Short Term and others 5.12% Industrial Alliance International Equity Fund 7.05% Foreign Bonds 0.65% Industrial Alliance US Equity (Currency Unhedged) Fund 5.80% Total 100.00% Industrial Alliance Canadian Corporate Bond Fund 5.33% Industrial Alliance Global True Conviction Fund 4.10% Government of Canada, 0.109%, 2021-03-18 2.31% Government of Canada, 0.170%, 2021-03-04 1.33% Total 89.26%

Total investments: 193

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to maximize long-term returns while minimizes risks Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,484. RISK LEVEL This works out to an average return of 4.02% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 8 years and down in ARE THERE ANY GUARANTEES? value 2 years. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 15 13.93 13.59

10 9.36 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.37 and can terminate the waiver at any time without notice. For the period ending 5 4.61 4.11 4.65 December 31, 2020, the waiver was set at 0.05%. 1.37 0

-5

-6.69 -10 -8.59 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

34 DIVERSIFIED OPPORTUNITY FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

35 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex SRI MODERATE (INHANCE) FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: October 26, 2020 Management Expense Ratio (MER)1: 3.65% Total Fund Value: $11.2 million Portfolio Advisor: Vancity Net Asset Value per Unit: $10.38 Portfolio Turnover Rate: 9.06% Number of Units Outstanding: 1,075,087 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? The Fund invests in units of the IA Clarington Inhance Conservative SRI Portfolio, which follows the portfolio manager’s socially responsible investment principles, and whose portfolio is invested primarily in fixed-income and equity securities of Canadian and foreign companies. Moreover, fixed-income securities are preferred. Top investments of the underlying fund 3 Top investment of the IA Clarington Inhance Investment segmentation Bond SRI Fund of the underlying fund IA Clarington Inhance Bond SRI Fund, Canada Housing Trust, 2.900%, 2024-06-15 2.79% Fixed Income Funds 55.44% Series I3 55.44% Province of Ontario, 2.700%, 2029-06-02 2.61% Canadian Equity Funds 29.65% IA Clarington Inhance Monthly Income SRI Province of British Columbia, 4.950%, 2040-06-18 2.52% Global Equity Funds 14.10% Fund, Series I 19.70% Province of British Columbia, 4.700%, 2037-06-18 2.48% Short Term and others 0.81% IA Clarington Inhance Global Equity SRI Government of Canada, 1.500%, 2026-06-01 2.45% Total 100.00% Class, Series I 14.10% Province of Ontario, 4.700%, 2037-06-02 2.25% IA Clarington Inhance Canadian Equity SRI Canada Housing Trust, 1.800%, 2024-12-15 2.25% Class, Series I 9.95% Province of Quebec, 5.000%, 2038-12-01 2.25% Other Assets 0.81% Bank of Nova Scotia, 2.380%, 2023-05-01 2.17% Total 100.00% Government of Canada, 1.250%, 2025-03-01 2.09% Total investments: 4 Total 23.86%

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The Fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks regular long-term revenues as well as some capital appreciation Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the medium to long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. Performance data cannot be published for funds that have been in existence for less than 1 year. RISK LEVEL YEAR-BY-YEAR RETURNS Low to Moderate Low moderate Moderate to high High Performance data cannot be published for funds that have been in existence for less than 1 year.

ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, please refer to the Information Folder and the contract.

1 iA Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2020, the waiver was set at 0.05%.

36 SRI MODERATE (INHANCE) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

37 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex SRI BALANCED (INHANCE) FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: April 22, 2013 Management Expense Ratio (MER)1: 3.75% Total Fund Value: $104.2 million Portfolio Advisor: Vancity Net Asset Value per Unit: $17.43 Portfolio Turnover Rate: 32.63% Number of Units Outstanding: 5,674,447 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? The fund invests in units of the IA Clarington Inhance Balanced SRI Portfolio, which follows the portfolio manager’s socially responsible investment principles, and whose portfolio is invested primarily in fixed-income and equity securities of Canadian and foreign companies. Moreover, the portfolio is balanced between fixed-income and equity securities. Top investments of the underlying fund Investment segmentation of the underlying fund IA Clarington Inhance Bond SRI Fund, Series I 39.65% Income 39.65% IA Clarington Inhance Global Equity SRI Class, Series I 23.89% Canadian Equity 35.63% IA Clarington Inhance Monthly Income SRI Fund, Series I 17.82% Global Equity 23.89% IA Clarington Inhance Canadian Equity SRI Class, Series I 17.81% Others 0.83% Other Assets 0.83% Total 100.00% Total 100.00%

Total investments: 4

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks capital appreciation and income Returns shown are after the MER has been deducted. • is looking for socially responsible investment principles Important: Past performance does not indicate how the fund will perform in the • invests with below average risk tolerance future. Also, your actual return will depend on the guarantee option you choose, • is planning to invest for the medium to long term any changes you made to your investment and your personal tax situation. AVERAGE RETURN HOW RISKY IS IT? A person who invested $1,000 in the fund 10 years ago (or since the date The value of your investment can go down. Please refer to the Information it was first offered under Ecoflex if less than 10 years) now has $1,483. Folder for further details. This works out to an average return of 5.26% a year. RISK LEVEL YEAR-BY-YEAR RETURNS Low to Moderate Low moderate Moderate to high High This chart shows how the segregated fund has performed for the last 7 years and how the underlying fund performed for 3 years before that. If the segregated fund had existed during this period, its return would likely have ARE THERE ANY GUARANTEES? been slightly lower. In this period, the funds were up in value 8 years and This fund is offered under an insurance contract. It comes with guarantees down in value 2 years. that may protect your investment if the markets go down. % 15 The MER includes the insurance cost for the guarantees. For details, 13.14 11.85 please refer to the Information Folder and the contract. 10 10.16

6.18 5 5.12 5.34 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 2.66 and can terminate the waiver at any time without notice. For the period ending 0 0.04 December 31, 2020, the waiver was set at 0.05%. Fund -5 -2.55 -5.03 Underlying fund -10 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

38 SRI BALANCED (INHANCE) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

39 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex SRI GROWTH (INHANCE) FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: October 26, 2020 Management Expense Ratio (MER)1: 3.76% Total Fund Value: $6.8 million Portfolio Advisor: Vancity Net Asset Value per Unit: $10.63 Portfolio Turnover Rate: 14.54% Number of Units Outstanding: 641,920 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? The Fund invests in units of the IA Clarington Inhance Growth SRI Portfolio, which follows the portfolio manager’s socially responsible investment principles, and whose portfolio is invested primarily in fixed-income and equity securities of Canadian and foreign companies. Moreover, equity securities are preferred. Top investments of the underlying fund Investment segmentation of the underlying fund IA Clarington Inhance Global Equity SRI Class, Series I 31.88% Canadian Equity Funds 39.57% IA Clarington Inhance Bond SRI Fund, Series I 27.74% Global Equity Funds 31.88% IA Clarington Inhance Canadian Equity SRI Class, Series I 24.80% Fixed Income Funds 27.74% IA Clarington Inhance Monthly Income SRI Fund, Series I 14.77% Short Term and others 0.81% Other Assets 0.81% Total 100.00% Total 100.00%

Total investments: 4

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The Fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks long-term capital appreciation Returns shown are after the MER has been deducted. • has an average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. Performance data cannot be published for funds that have been in existence for less than 1 year. RISK LEVEL YEAR-BY-YEAR RETURNS Low to Moderate Low moderate Moderate to high High Performance data cannot be published for funds that have been in existence for less than 1 year.

40 SRI GROWTH (INHANCE) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

41 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex DIVERSIFIED INCOME FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 1, 2003 Management Expense Ratio (MER)1: 3.02% Total Fund Value: $289.6 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $29.81 Portfolio Turnover Rate: 131.72% Number of Units Outstanding: 8,449,207 Minimum Investment: $25

Industrial Alliance Canadian Equity (iAIM) 19.30% Canadian Equity 52.50% Industrial Alliance Dividend Fund 14.50% Canadian Bonds 16.02% Industrial Alliance Canadian Equity All Cap Value 11.37% U.S. Equity 13.37% Industrial Alliance Thematic Innovation Fund 7.00% Foreign Equity 10.88% Industrial Alliance International Equity Fund 6.97% Short Term and others 6.48% Industrial Alliance Canadian Equity Small Cap Fund 6.12% Foreign Bonds 0.75% Industrial Alliance Canadian Corporate Bond Fund 6.02% Total 100.00% IA Clarington U.S. Dividend Growth Fund, Series I 4.18% Industrial Alliance Global True Conviction Fund 3.91% Government of Canada, 0.170%, 2021-03-04 3.33% Total 82.70%

Total investments: 196

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks regular long-term return Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,516. RISK LEVEL This works out to an average return of 4.25% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 8 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 15 13.26 13.11

10 9.54 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.51 6.22 and can terminate the waiver at any time without notice. For the period ending 5 5.01 5.13 December 31, 2020, the waiver was set at 0.05%. 1.32 0

-5

-6.92 -10 -8.26 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

42 DIVERSIFIED INCOME FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

43 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex STRATEGIC INCOME FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: April 22, 2013 Management Expense Ratio (MER)1: 3.61% Total Fund Value: $206.4 million Portfolio Advisor: IA Clarington Investments Inc. Net Asset Value per Unit: $14.26 Portfolio Turnover Rate: 11.64% Number of Units Outstanding: 13,504,849 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Strategic Income Fund, which primarily invests in Canadian equity and fixed income investments.

Top 10 investments of the underlying fund Investment segmentation of the underlying fund Royal Bank of Canada 3.20% Equity 61.00% Apple Inc. 2.60% Fixed Income 26.10% Carrier Global Corp. 2.50% Short Term and others 12.90% Canadian Pacific Railway Co. 2.50% Total 100.00% Fortis Inc. 2.20% Brookfield Asset Management Inc. 2.20% The Toronto-Dominion Bank 2.20% Johnson & Johnson 2.00% Superior Plus LP 2.00% Microsoft Corp. 2.00% Total 23.40%

Total investments: 178

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks a flow of income and the potential for capital appreciation Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the medium to long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,280. RISK LEVEL This works out to an average return of 3.27% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 7 years and how the underlying fund performed for 1 year before that. If the ARE THERE ANY GUARANTEES? segregated fund had existed during this period, its return would likely have This fund is offered under an insurance contract. It comes with guarantees been slightly lower. In this period, the funds were up in value 5 years and down that may protect your investment if the markets go down. in value 3 years. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 15 12.31 11.65 10.68 10 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.07 and can terminate the waiver at any time without notice. For the period ending 5 4.07 December 31, 2020, the waiver was set at 0.05%. 0 Fund -1.77 -5 -4.61 Underlying fund -7.21 -10 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

44 STRATEGIC INCOME FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

45 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex GLOBAL DIVERSIFIED (LOOMIS SAYLES) FUND2 Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 20, 2006 Management Expense Ratio (MER)1: 3.39% Total Fund Value: $646.1 million Portfolio Advisor: Loomis, Sayles & Company Net Asset Value per Unit: $17.60 Portfolio Turnover Rate: 10.99% Number of Units Outstanding: 30,755,575 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Global Allocation Fund, which primarily invests in equity securities, fixed-income investments and money market instruments from around the world. Top 10 investments of the underlying fund Investment segmentation of the underlying fund Danaher Corp. 2.60% U.S. Equity 42.20% Amazon.com Inc. 2.60% Fixed Income 28.20% IQVIA 2.30% Foreign Equity 20.00% MasterCard Inc. 2.30% Short Term and others 6.60% Roper Technologies Inc. 2.20% Canadian Equity 3.00% Alphabet Inc. 2.20% Total 100.00% Linde PLC 2.10% UnitedHealth Group Inc. 2.10% Facebook Inc. 2.10% Taiwan Semiconductor Manufacturing Co. Ltd. 2.00% Total 22.50%

Total investments: 545

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks long-term capital appreciation Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the medium to long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,758. RISK LEVEL This works out to an average return of 5.81% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value 3 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 20 18.94

15 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 12.47 12.63 10.32 and can terminate the waiver at any time without notice. For the period ending 10 December 31, 2020, the waiver was set at 0.05%. 6.94 5 2 Fund closed to new investments. 2.28 1.09 0 -0.20 -2.40 -1.78 -5 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

46 GLOBAL DIVERSIFIED (LOOMIS SAYLES) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

47 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex STRATEGIC EQUITY INCOME FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 1, 2005 Management Expense Ratio (MER)1: 2.64% Total Fund Value: $164.8 million Portfolio Advisor: IA Clarington Investment Inc. Net Asset Value per Unit: $17.81 Portfolio Turnover Rate: 4.11% Number of Units Outstanding: 8,683,492 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Strategic Equity Income Fund which mainly invests in high-yield quality dividend common and preferred shares of Canadian companies. Top 10 investments of the underlying fund Investment segmentation of the underlying fund Apple Inc. 3.52% Canadian Equity 51.03% Royal Bank of Canada 3.44% U.S. Equity 30.24% Carrier Global Corp. 3.32% Short term and other 11.55% Enbridge Inc., 1.032%, 2021-01-05 3.04% Income Trust 5.17% Microsoft Corp. 2.78% Foreign Equity 2.01% Superior Plus Corp. 2.64% Total 100.00% Fortis Inc. 2.64% Canadian Pacific Railway Co. 2.59% Brookfield Asset Management Inc. 2.57% Johnson & Johnson 2.33% Total 28.87%

Total investments: 132

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks dividend income and potential for capital appreciation Returns shown are after the MER has been deducted. • invests with below average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the medium to long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,611. RISK LEVEL This works out to an average return of 4.88% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 6 years and down in value ARE THERE ANY GUARANTEES? 4 years. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 20 17.59 14.85

1 10.45 iA Financial Group is currently waiving a portion of the operating expenses for this fund 10 9.14 9.91 and can terminate the waiver at any time without notice. For the period ending 6.24 December 31, 2020, the waiver was set at 0.05%. 0

-2.45 -3.38 -5.11 -5.27 -10 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

48 STRATEGIC EQUITY INCOME FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

49 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex DIVIDEND GROWTH FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 1, 2005 Management Expense Ratio (MER)1: 2.90% Total Fund Value: $958.7 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $21.47 Portfolio Turnover Rate: 14.79% Number of Units Outstanding: 40,722,365 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Dividend Growth class which invests in stocks of Canadian blue chip style companies. Mainly invests in equities of large capitalization companies. Top 10 investments of the underlying fund Investment segmentation of the underlying fund The Toronto-Dominion Bank 5.75% Canadian Equity 78.23% Royal Bank of Canada 5.71% U.S. Equity 17.77% Brookfield Asset Management Inc. 5.21% Income Trust 2.35% Sun Life Financial Services of Canada Inc. 3.97% Short term and other 0.90% Enbridge Inc. 3.93% Foreign Equity 0.75% Bank of Nova Scotia 3.03% Total 100.00% Bank of Montreal 2.83% Waste Connections Inc. 2.48% Manulife Financial Corp. 2.41% BCE Inc. 2.39% Total 37.71%

Total investments: 61

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeking dividend income with the possibility of capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the medium to long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,595. RISK LEVEL This works out to an average return of 4.78% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 6 years and down in value ARE THERE ANY GUARANTEES? 4 years. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 20 17.33 17.70 14.30

1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 10 8.80 and can terminate the waiver at any time without notice. For the period ending 6.85 6.35 December 31, 2020, the waiver was set at 0.05%. 0

-2.36 -4.07 -4.95 -10 -8.21 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

50 DIVIDEND GROWTH FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

51 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex DIVIDEND FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 31, 1997 Management Expense Ratio (MER)1: 2.90% Fund offered to holders of contracts issued prior to: November 7, 2005 Portfolio Advisor: iA Investment Management Total Fund Value: $997.6 million Portfolio Turnover Rate: 44.93% Net Asset Value per Unit: $54.79 Minimum Investment: $25 Number of Units Outstanding: 12,535,349

WHAT DOES THIS FUND INVEST IN? This fund is composed of common and preferred shares in large Canadian blue chip style companies. Mainly invests in units of large capitalization companies. Top 10 investments of the Fund Investment segmentation of the Fund

The Toronto-Dominion Bank 5.78% Canadian Equity 80.48% Royal Bank of Canada 5.75% U.S. Equity 17.77% Brookfield Asset Management Inc. 5.26% Short Term and others 1.01% Sun Life Financial Services of Canada Inc. 3.97% Foreign Equity 0.74% Enbridge Inc. 3.92% Total 100.00% Bank of Nova Scotia 3.06% Bank of Montreal 2.77% Waste Connections Inc. 2.52% Manulife Financial Corp. 2.40% Canadian National Railway Co. 2.40% Total 37.83%

Total investments: 62

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks long-term capital growth Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,659. RISK LEVEL This works out to an average return of 5.19% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 6 years and down in value 4 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % 20 please refer to the Information Folder and the contract. 18.65 17.82 14.91

1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 10 9.22 7.49 and can terminate the waiver at any time without notice. For the period ending 6.14 December 31, 2020, the waiver was set at 0.05%. 0 -1.73 -3.64 -4.06

-10 -8.75 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

52 DIVIDEND FUND

HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different according to the category of each fund. The following sales charge will apply, see Information Folder or contract for full details or discuss with your life insurance agent.

Sales Charge Option What You Pay How It Works

Surrender Fees The deferred sales charge is a fixed rate and is deducted from the amount you surrender. If you surrender within: When you invest in the fund, iA Financial group pays a commission of up to 5.6% to your 1st and 2nd year 5% life insurance agent and his/her agency. rd Any deferred sales charges paid go to iA Financial group. Deferred Sales Charge 3 year 4% 4th year 3% You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. 5th and 6th year 2% You may switch to units of another fund under the contract at any time without paying a After 6th year 0% deferred sales charge.

*MER shown may differ from actual MER.

TRAILING COMMISSION Each month, iA Financial group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in the fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees.

• the value of the premium invested or • the value of the investment on the valuation day following the day iA Financial group received your Website: ia.ca request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid.

53 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex CANADIAN EQUITY INDEX FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: September 20, 2001 Management Expense Ratio (MER)1: 3.01% Total Fund Value: $477.1 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $25.01 Portfolio Turnover Rate: 48.98% Number of Units Outstanding: 11,424,346 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? The fund invests in units of an underlying fund, which is primarily composed of trust units of the S&P/TSX 60 Index.

Top 10 investments of the Fund Investment segmentation of the Fund

Shopify Inc. 7.63% Canadian Equity 94.84% Royal Bank of Canada 7.18% U.S. Equity 2.05% The Toronto-Dominion Bank 6.30% Foreign Equity 1.76% Horizon S&P/TSX 60 Index ETF 5.36% Short Term and others 1.35% Canadian National Railway Co. 4.80% Total 100.00% Bank of Nova Scotia 4.02% Enbridge Inc. 3.97% Brookfield Asset Management Inc. 3.56% Bank of Montreal 3.02% Canadian Pacific Railway Co. 2.86% Total 48.70%

Total investments: 64

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to obtain high long-term capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the medium to long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,356. RISK LEVEL This works out to an average return of 3.09% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value ARE THERE ANY GUARANTEES? 3 years. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 20 17.48 17.70

9.94 10 8.75 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.57 4.94 and can terminate the waiver at any time without notice. For the period ending 2.68 December 31, 2020, the waiver was set at 0.05%. 0

-10 -10.02 -11.46 -10.35 -20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

54 CANADIAN EQUITY INDEX FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

55 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex FIDELITY TRUE NORTH® FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: January 5, 1999 Management Expense Ratio (MER)1: 3.70% Total Fund Value: $251.5 million Portfolio Advisor: Fidelity Investments Net Asset Value per Unit: $40.49 Portfolio Turnover Rate: 4.48% Number of Units Outstanding: 5,067,612 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Fidelity True North® Fund, which invests mainly in equities of Canadian companies, across all market sectors and market capitalizations. Top 10 investments of the underlying fund Investment segmentation of the underlying fund Royal Bank of Canada Canadian Equity 89.78% The Toronto-Dominion Bank Foreign Equity 8.26% Shopify Inc. Short Term and others 1.95% Barrick Gold Corp. Canadian bonds 0.01% Canadian National Railway Co. Total 100.00% Brookfield Asset Management Inc. Dollarama Inc. Suncor Energy Inc. Canadian Natural Resources Ltd. Alimentation Couche-Tard Inc., Class B, SV Top 10 holdings represents 36.58% of the underlying fund’s net assets.

Total investments: 130

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks superior long-term capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,675. RISK LEVEL This works out to an average return of 5.29% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value 3 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 30

20.85 1 20 iA Financial Group is currently waiving a portion of the operating expenses for this fund 15.54 and can terminate the waiver at any time without notice. For the period ending 12.00 10 8.43 8.60 December 31, 2020, the waiver was set at 0.05%. 7.01 3.37 0

-3.26 -10 -6.40 -9.18 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

56 FIDELITY TRUE NORTH® FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

57 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex CANADIAN EQUITY GROWTH FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 1, 2001 Management Expense Ratio (MER)1: 3.01% Total Fund Value: $804.9 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $34.39 Portfolio Turnover Rate: 85.36% Number of Units Outstanding: 15,677,890 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund mainly invests in equities of large capitalization Canadian companies which demonstrate above-average growth potential.

Top 10 investments of the Fund Investment segmentation of the Fund

Royal Bank of Canada 5.37% Canadian Equity 82.95% The Toronto-Dominion Bank 5.28% U.S. Equity 11.70% Brookfield Asset Management Inc. 3.31% Foreign Equity 2.68% Bank of Nova Scotia 2.93% Short term and other 2.67% Industrial Alliance Thematic Innovation Fund 2.85% Total 100.00% Canadian National Railway Co. 2.84% Canadian Pacific Railway Co. 2.60% Shopify Inc. 2.44% Enbridge Inc. 2.41% Bank of Montreal 2.08% Total 32.11%

Total investments: 147

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • wishes to obtain an increase of capital over the long term Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,496. RISK LEVEL This works out to an average return of 4.11% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value 3 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 20 18.95 14.82 14.62

1 10 8.27 7.86 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.38 5.44 and can terminate the waiver at any time without notice. For the period ending December 31, 2020, the waiver was set at 0.05%. 0

-5.75 -10 -11.10 -12.93 -20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

58 CANADIAN EQUITY GROWTH FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

59 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex FIDELITY CANADIAN OPPORTUNITIES FUND2 Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: January 5, 1999 Management Expense Ratio (MER)1: 3.71% Total Fund Value: $304.3 million Portfolio Advisor: Fidelity Investments Net Asset Value per Unit: $56.48 Portfolio Turnover Rate: 3.48% Number of Units Outstanding: 4,072,456 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Fidelity Canadian Opportunities Fund, which invests mainly in the stocks of smaller and mid-size Canadian companies. A variable portion of the fund may be allocated to international assets to take advantage of geographic diversification. Top 10 investments of the underlying fund Investment segmentation of the underlying fund Dollarama Inc. Canadian Equity 88.86% Brookfield Renewable Partners LP Global Equity 8.76% National Bank of Canada Short Term and others 1.64% Quebecor Inc., Class B Canadian bonds 0.74% CGI Group Inc., Class A, SV Total 100.00% Alimentation Couche-Tard Inc., Class B, SV Franco-Nevada Corp. Restaurant Brands International Inc. Major Drilling Group International Inc. Methanex Corp. Top 10 holdings represents 35.35% of the underlying fund’s net assets.

Total investments: 105

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • pursues superior long-term return Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,973. RISK LEVEL This works out to an average return of 7.03% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value 3 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 30 25.92 22.91 20 20.03 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 14.66 and can terminate the waiver at any time without notice. For the period ending 10 8.60 7.89 December 31, 2020, the waiver was set at 0.05%. 1.40 0 2 Fund closed to new investments. -2.36 -10 -11.12 -10.17 -20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

60 FIDELITY CANADIAN OPPORTUNITIES FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

61 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex NORTH AMERICAN EQUITY FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: February 15, 1993 Management Expense Ratio (MER)1: 3.05% Total Fund Value: $115.9 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $52.52 Portfolio Turnover Rate: 104.66% Number of Units Outstanding: 2,145,789 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests mainly in equities of large capitalization companies from all economic sectors of the Canadian stock market.

Top 10 investments of the Fund Investment segmentation of the Fund

Royal Bank of Canada 2.63% Canadian Equity 49.88% The Toronto-Dominion Bank 2.59% U.S. Equity 45.82% Apple Inc. 2.39% Foreign Equity 3.21% Microsoft Corp. 2.37% Short Term and others 1.09% Amazon.com Inc. 2.06% Total 100.00% Canadian National Railway Co. 1.77% Brookfield Asset Management Inc. 1.76% Canadian Pacific Railway Co. 1.64% Bank of Nova Scotia 1.40% Shopify Inc. 1.38% Total 19.99%

Total investments: 241

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to obtain a high capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,345. RISK LEVEL This works out to an average return of 3.01% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value 3 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 20 16.74 13.26 10.95 1 10 8.39 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.14 4.63 and can terminate the waiver at any time without notice. For the period ending 2.61 December 31, 2020, the waiver was set at 0.05%. 0

-4.48 -10 -11.18 -12.53 -20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

62 NORTH AMERICAN EQUITY FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

63 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex GLOBAL EQUITY INDEX ACWI (BLACKROCK) FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: October 29, 2018 Management Expense Ratio (MER)1: 3.61% Total Fund Value: $76.2 million Portfolio Advisor: BlackRock Net Asset Value per Unit: $28.17 Portfolio Turnover Rate: 26.73% Number of Units Outstanding: 2,617,932 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? The fund aims to replicate the performance of the MSCI AWCI Ex Canada Index by investing in the units of an underlying fund, currently the BlackRock CDN MSCI ACWI Ex-Canada Index Fund. Top 10 investments of the Fund Investment segmentation of the Fund iShares MSCI Emerging Markets Index ETF 13.56% United States 70.43% Apple Inc. 3.91% Europe 18.72% Microsoft Corp. 3.10% Asia and Pacific 8.25% Amazon.com Inc. 2.56% Australia 1.76% Facebook Inc., Class A 1.21% Short Term and others 0.67% Tesla, Inc. 0.99% Mid-east and Africa 0.15% Alphabet Inc., Class A 0.97% Latin America 0.02% Alphabet Inc., Class C 0.94% Total 100.00% Berkshire Hathaway Inc., Class B 0.83% Johnson & Johnson 0.76% Total 28.83%

Total investments: 1,409

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to obtain high long-term capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information A person who invested $1,000 in the fund 10 years ago (or since the date Folder for further details. it was first offered under Ecoflex if less than 10 years) now has $1,155. RISK LEVEL This works out to an average return of 6.87% a year. Low to Moderate YEAR-BY-YEAR RETURNS Low moderate Moderate to high High This chart shows how the segregated fund has performed for the last 2 years and how the underlying fund performed for 8 years before that. If ARE THERE ANY GUARANTEES? the segregated fund had existed during this period, its return would likely This fund is offered under an insurance contract. It comes with guarantees have been slightly lower. In this period, the funds were up in value 8 years that may protect your investment if the markets go down. and down in value 2 years. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 30 25.53

1 20 iA Financial Group is currently waiving a portion of the operating expenses for this fund 16.03 13.92 and can terminate the waiver at any time without notice. For the period ending 12.17 9.97 December 31, 2020, the waiver was set at 0.05%. 10 9.65 8.71 Fund 0 0.39 Underlying fund -4.34 -10 -7.92 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

64 GLOBAL EQUITY INDEX ACWI (BLACKROCK) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

65 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex GLOBAL DIVIDEND (DYNAMIC) FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 20, 2006 Management Expense Ratio (MER)1: 3.54% Total Fund Value: $1,145.2 million Portfolio Advisor: Dynamic Funds Net Asset Value per Unit: $27.63 Portfolio Turnover Rate: 3.58% Number of Units Outstanding: 35,978,103 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Dynamic Global Dividend Value Fund, which primarily invests in equity securities of businesses located around the world.

Top 10 investments of the underlying fund Investment segmentation of the underlying fund Apple Inc. 5.10% United States 47.30% Microsoft Corp. 4.60% Europe 21.10% Taiwan Semiconductor Manufacturing Co. Ltd. 4.50% Asia and Pacific 20.00% HOYA Corporation. 4.40% Short Term and others 5.80% Keyence Corp 4.30% Mid-east and Africa 5.80% Cadence Design Systems, Inc. 4.30% Total 100.00% Morgan Stanley 4.10% Belimo Holding, AG 3.90% Parker Hannifin Corp. 3.80% L'Oreal SA 3.80% Total 42.80%

Total investments: 27

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks long-term capital growth Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $2,766. RISK LEVEL This works out to an average return of 10.71% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 8 years and down in value 2 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 30 27.86

22.18 20.97 20 20.43 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund

and can terminate the waiver at any time without notice. For the period ending 10.54 December 31, 2020, the waiver was set at 0.05%. 10 8.66 3.93 3.60 0 -1.22 -4.84 -10 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

66 GLOBAL DIVIDEND (DYNAMIC) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

67 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex GLOBAL EQUITY FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: October 25, 2005 Management Expense Ratio (MER)1: 3.52% Total Fund Value: $114.1 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $25.67 Portfolio Turnover Rate: 25.76% Number of Units Outstanding: 3,981,933 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Global Value Fund, which invests primarily in common stocks of companies throughout the world.

Top 10 investments of the underlying fund Investment segmentation of the underlying fund Microsoft Corp. 3.81% United States 63.84% Apple Inc. 3.57% Europe 20.75% Amazon.com Inc. 3.25% Asian & Pacific 14.72% Alphabet Holding Company Inc. 2.19% Short Term and others 0.69% UnitedHealth Group Inc. 1.60% Total 100.00% Facebook Inc. 1.35% Johnson & Johnson 1.29% JPMorgan Chase & Co. 1.16% NextEra Energy Inc. 1.10% Broadcom Inc. 1.05% Total 20.37%

Total investments: 167

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks long-term capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $2,190. RISK LEVEL This works out to an average return of 8.16% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value 3 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 40

31.28 30 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 20 19.00 and can terminate the waiver at any time without notice. For the period ending 16.63 December 31, 2020, the waiver was set at 0.05%. 13.20 10 10.69 9.97 10.50

-4.79 -10 -7.91 -9.95 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

68 GLOBAL EQUITY FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

69 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex GLOBAL OPPORTUNITIES (LOOMIS SAYLES) FUND2 Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: October 26, 2020 Management Expense Ratio (MER)1: 3.95% Total Fund Value: $18.3 million Portfolio Advisor: Loomis, Sayles & Company Net Asset Value per Unit: $10.31 Portfolio Turnover Rate: 4.34% Number of Units Outstanding: 1,768,695 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? The Fund invests in units of the IA Clarington Loomis Global Equity Opportunities Fund, which mainly invests in equity securities of companies around the world. Top investments of the underlying fund Investment segmentation of the underlying fund Danaher Corp. 3.80% U.S. Equity 61.50% Amazon.com Inc. 3.80% Foreign Equity 29.10% IQVIA 3.40% Short Term and others 5.10% MasterCard Inc. 3.40% Canadian Equity 4.30% Alphabet Inc. 3.30% Total 100.00% Roper Technologies Inc. 3.30% Linde PLC 3.10% Facebook Inc. 3.10% UnitedHealth Group Inc. 3.00% Taiwan Semiconductor Manufacturing Co. Ltd. 2.80% Total 33.00%

Total investments: 44

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The Fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks long-term capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. Performance data cannot be published for funds that have been in existence for less than 1 year. RISK LEVEL YEAR-BY-YEAR RETURNS Low to Moderate Low moderate Moderate to high High Performance data cannot be published for funds that have been in existence for less than 1 year.

70 GLOBAL OPPORTUNITIES (LOOMIS SAYLES) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

71 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex FIDELITY NORTHSTAR® FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 1, 2005 Management Expense Ratio (MER)1: 3.75% Total Fund Value: $126.2 million Portfolio Advisor: Fidelity Investments Net Asset Value per Unit: $22.17 Portfolio Turnover Rate: 3.15% Number of Units Outstanding: 4,974,124 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Fidelity NorthStar® Fund, which invests in a well diversified portfolio of equities of companies operating around the world. Top 10 investments of the underlying fund Investment segmentation of the underlying fund Ottogi Corp. Asia and Pacific 37.70% Imperial Brands PLC United States 32.09% Suncor Energy Inc. Europe 8.67% Microsoft Corp. Other countries 7.71% ITOCHU Corp. Short Term and others 7.52% Simplo Technology Canada 6.31% Anthem, Inc. Total 100.00% Canadian Natural Resources Ltd. Amazon.com Inc. Haitian International Holdings Top 10 holdings represents 18.42% of the underlying fund’s net assets.

Total investments: 130

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks long-term capital growth Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $2,175. RISK LEVEL This works out to an average return of 8.08% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value ARE THERE ANY GUARANTEES? 3 years. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 60

44.27 40 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending 23.13 20 18.42 December 31, 2020, the waiver was set at 0.05%. 12.01 6.89 2.69 3.42 0 -3.34 -6.47 -10.08 -20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

72 FIDELITY NORTHSTAR® FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

73 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex INTERNATIONAL EQUITY INDEX (BLACKROCK) FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 31, 1999 Management Expense Ratio (MER)1: 3.03% Total Fund Value: $180.0 million Portfolio Advisor: BlackRock Net Asset Value per Unit: $11.15 Portfolio Turnover Rate: 17.67% Number of Units Outstanding: 10,116,064 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the BlackRock CDN MSCI EAFE Equity Index Fund, which invests in the securities of large capitalization companies that operate in Europe, Australasia and the Far East. Top 10 investments of the underlying fund Investment segmentation of the underlying fund Nestlé SA 2.13% Europe 61.72% Roche Holdings AG 1.54% Asia and Pacific 30.02% Novartis AG, Registered 1.32% Australia 6.39% ASML Holding NV 1.30% Short Term and others 1.22% LVMH Moet Hennessy - Louis Vuitton SA 1.09% Mid-east and Africa 0.56% Toyota Motor Corp. 1.03% Latin America 0.09% Unilever PLC 0.99% Total 100.00% AIA Group Ltd. 0.93% SAP AG 0.86% AstraZeneca Group PLC 0.83% Total 12.02%

Total investments: 898

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to obtain high long-term capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,664. RISK LEVEL This works out to an average return of 5.22% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value 3 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 30 27.41

20 15.67 1 13.49 iA Financial Group is currently waiving a portion of the operating expenses for this fund 11.84 12.75 and can terminate the waiver at any time without notice. For the period ending 10 December 31, 2020, the waiver was set at 0.05%. 2.90 0 0.76

-5.24 -10 -8.63 -12.12 -20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

74 INTERNATIONAL EQUITY INDEX (BLACKROCK) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

75 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex INTERNATIONAL EQUITY FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: April 22, 2013 Management Expense Ratio (MER)1: 3.67% Total Fund Value: $577.8 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $21.85 Portfolio Turnover Rate: 35.17% Number of Units Outstanding: 19,386,230 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in a well-diversified portfolio of equities in primarily medium-and large-capitalization companies located outside North America.

Top 10 investments of the Fund Investment segmentation of the Fund

Nestlé SA 2.90% Europe 56.75% Chugai Pharmaceutical Co. Ltd. 2.42% Asian & Pacific 39.16% Iberdrola, S.A. 2.36% United States 2.73% Tencent Holdings Ltd. 2.27% Short Term and others 1.36% Vonovia SE 2.14% Total 100.00% Samsung Electronics Co. Ltd. 2.13% ASML Holding NV 2.06% Techtronic Industries Co. Ltd. 1.97% Rio Tinto Ltd. 1.93% Schneider Electric SA 1.90% Total 22.08%

Total investments: 77

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks added value in the long term Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,640. RISK LEVEL This works out to an average return of 6.65% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the underlying fund performed for the last 7 years and how the underlying fund performed for 3 years before that. If the segregated ARE THERE ANY GUARANTEES? fund had existed during this period, its return would likely have been slightly This fund is offered under an insurance contract. It comes with guarantees lower. In this period, the funds were up in value 7 years and down in value that may protect your investment if the markets go down. 3 years. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 30 26.17

19.82 20 17.23 1 15.46 iA Financial Group is currently waiving a portion of the operating expenses for this fund 12.08 10 and can terminate the waiver at any time without notice. For the period ending 6.02 December 31, 2020, the waiver was set at 0.05%. 0 0.39 Fund -10 -9.03 Underlying fund -12.86 -20 -15.38 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

76 INTERNATIONAL EQUITY FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

77 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex FIDELITY EUROPEAN EQUITY FUND2 Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: January 5, 1999 Management Expense Ratio (MER)1: 3.76% Total Fund Value: $42.8 million Portfolio Advisor: Fidelity Investments Net Asset Value per Unit: $13.14 Portfolio Turnover Rate: 2.33% Number of Units Outstanding: 2,769,536 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Fidelity Europe Fund, which invests in equities of large capitalization companies from continental Europe and the United Kingdom. Top 10 investments of the underlying fund Investment segmentation of the underlying fund Roche Holdings AG Other countries 24.74% Sanofi LLC United Kingdom 24.08% SAP AG France 18.80% Publicis Groupe SA Germany 15.43% Koninklijke Philips NV Netherlands 15.26% Axa SA Short Term and others 1.69% Legal & General Group PLC Total 100.00% Prosus NV Prudential PLC Fresenius Medical Care AG & Co. Top 10 holdings represents 37.98% of the underlying fund’s net assets.

Total investments: 58

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks capital growth potential Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,502. RISK LEVEL This works out to an average return of 4.15% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 5 years and down in value 5 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 30 29.67 23.78

20 17.46 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 14.52 13.43 and can terminate the waiver at any time without notice. For the period ending 10 December 31, 2020, the waiver was set at 0.05%. 0 2 Fund closed to new investments. -3.83 -10 -5.23 -9.98 -12.18 -20 -14.88 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

78 FIDELITY EUROPEAN EQUITY FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

79 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex U.S. EQUITY INDEX (BLACKROCK) FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 31, 1997 Management Expense Ratio (MER)1: 3.03% Total Fund Value: $322.9 million Portfolio Advisor: BlackRock Net Asset Value per Unit: $24.85 Portfolio Turnover Rate: 9.42% Number of Units Outstanding: 10,382,250 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? The fund invests in units of the BlackRock CDN U.S. Equity Index Fund, Class D, which comprises of U.S. equity investments.

Top 10 investments of the underlying fund Investment segmentation of the underlying fund Apple Inc. 6.64% U.S. Equity 96.26% Microsoft Corp. 5.27% International Equity 2.94% Amazon.com Inc. 4.35% Short Term and others 0.80% Facebook Inc., Class A 2.06% Total 100.00% Tesla, Inc. 1.68% Alphabet Inc., Class A 1.65% Alphabet Inc., Class C 1.59% Berkshire Hathaway Inc., Class B 1.41% Johnson & Johnson 1.30% JPMorgan Chase & Co. 1.21% Total 27.16%

Total investments: 512

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks medium and long-term capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the medium and long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $3,392. RISK LEVEL This works out to an average return of 12.99% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 10 years and down in value 0 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 40 36.00

30 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending 20 19.96 20.72 December 31, 2020, the waiver was set at 0.05%. 17.71 12.61 10 10.21 10.09 4.51 1.61 0.85

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

80 U.S. EQUITY INDEX (BLACKROCK) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

81 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex THEMATIC INNOVATION FUND2 Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: October 28, 2019 Management Expense Ratio (MER)1: 3.97% Total Fund Value: $629.2 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $21.24 Portfolio Turnover Rate: 197.63% Number of Units Outstanding: 28,030,427 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? The fund invests primarily in equity securities of large capitalization U.S. companies taking advantage of structural innovation themes in the economy.

Top 10 investments of the Fund Investment segmentation of the Fund

Apple Inc. 4.98% U.S. Equity 91.64% Microsoft Corp. 4.86% Foreign Equity 4.05% Amazon.com Inc. 4.85% Short Term and others 2.87% Alphabet Holding Company Inc. 2.66% Canadian Equity 1.44% Facebook Inc. 2.13% Total 100.00% Nanox Imaging 1.93% JPMorgan Chase & Co. 1.82% Government of Canada, 0.109%, 2021-03-18 1.69% Micron Technology Inc. 1.58% Johnson & Johnson 1.53% Total 28.03%

Total investments: 105

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks long-term capital growth Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information A person who invested $1,000 in the fund 10 years ago (or since the date Folder for further details. it was first offered under Ecoflex if less than 10 years) now has $1,335. RISK LEVEL This works out to an average return of 27.86% a year. Low to Moderate YEAR-BY-YEAR RETURNS Low moderate Moderate to high High This chart shows how the segregated fund has performed for the last year and how the underlying fund performed for 3 years before that. If the segregated ARE THERE ANY GUARANTEES? fund had existed during this period, its return would likely have been slightly This fund is offered under an insurance contract. It comes with guarantees lower. In this period, the funds were up in value 4 years and down in value 0 that may protect your investment if the markets go down. year. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 30 28.13

1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 20 and can terminate the waiver at any time without notice. For the period ending 16.83 December 31, 2020, the waiver was set at 0.05%. 13.74 2 Fund closed to new investments. 10 Fund Underlying fund 0.48 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

82 THEMATIC INNOVATION FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

83 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex U.S. EQUITY FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: September 20, 2001 Management Expense Ratio (MER)1: 3.40% Total Fund Value: $94.4 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $22.62 Portfolio Turnover Rate: 181.80% Number of Units Outstanding: 3,919,320 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests primarily in the equity securities of large-capitalization U.S. companies with solid financial statements.

Top 10 investments of the Fund Investment segmentation of the Fund

Microsoft Corp. 5.98% U.S. Equity 98.51% Apple Inc. 5.53% Foreign Equity 1.19% Amazon.com Inc. 5.10% Short Term and others 0.30% Alphabet Holding Company Inc. 3.44% Total 100.00% UnitedHealth Group Inc. 2.48% Facebook Inc. 2.13% Johnson & Johnson 1.97% JPMorgan Chase & Co. 1.83% NextEra Energy Inc. 1.73% Broadcom Inc. 1.66% Total 31.85%

Total investments: 90

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks above average returns over a long term Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $2,636. RISK LEVEL This works out to an average return of 10.18% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value 3 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % 40 please refer to the Information Folder and the contract. 36.49 30 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 20 20.23 20.62 and can terminate the waiver at any time without notice. For the period ending 16.18 December 31, 2020, the waiver was set at 0.05%. 13.39 9.70 10 7.82

0 -2.04 -4.27 -10 -8.86 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

84 U.S. EQUITY FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

85 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex U.S. DIVIDEND GROWTH FUND Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 1, 2005 Management Expense Ratio (MER)1: 3.53% Total Fund Value: $190.7 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $20.79 Portfolio Turnover Rate: 5.96% Number of Units Outstanding: 7,916,988 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington U.S. Dividend Growth Fund, which invests in stocks of high performing U.S. large capitalization companies.

Top 10 investments of the underlying fund Investment segmentation of the underlying fund Microsoft Corp. 5.41% U.S. Equity 92.79% Apple Inc. 4.80% Canadian Equity 4.40% Johnson & Johnson 2.72% Short term and other 1.98% Broadcom Inc. 2.63% Foreign Equity 0.83% UnitedHealth Group Inc. 2.39% Total 100.00% BlackRock Inc. 2.39% The Travelers Companies Inc. 2.29% MetLife Inc. 2.22% Fortis Inc. 2.22% Algonquin Power & Utilities Corp. 2.18% Total 29.25%

Total investments: 68

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $2,305. RISK LEVEL This works out to an average return of 8.71% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value ARE THERE ANY GUARANTEES? 3 years. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 30 27.83

20 19.82 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 18.31 18.23 and can terminate the waiver at any time without notice. For the period ending 10 9.70 December 31, 2020, the waiver was set at 0.05%. 7.74 5.21 0 -0.72 -4.84 -10 -8.44 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

86 U.S. DIVIDEND GROWTH FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

87 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex ASIAN PACIFIC (DYNAMIC) FUND2 Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 31, 1999 Management Expense Ratio (MER)1: 3.32% Total Fund Value: $171.0 million Portfolio Advisor: Dynamic Funds Net Asset Value per Unit: $14.55 Portfolio Turnover Rate: 12.81% Number of Units Outstanding: 25,717,050 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Dynamic Asia Pacific Equity Fund, which invests in a selection of equities of large capitalization companies located in the entire Pacific region including Japan. Top 10 investments of the underlying fund Investment segmentation of the underlying fund BYD Co. 5.30% China 66.30% Li Ning Co Ltd. 3.20% Other countries 10.00% Shenzhen Inovance Technology 2.80% Taiwan 7.20% Lepu Medical Technology 2.70% Japan 6.80% BeiGene 2.70% South Korea 4.40% Meituan-Dianping 2.70% Thailand 3.80% Alibaba Group Holding Ltd. 2.70% Short Term and others 1.50% Tencent Holdings Ltd. 2.60% Total 100.00% LG Household & Health Care Ltd. 2.50% Shandong Weigao Group Medical Polymer Co 2.50% Total 29.70%

Total investments: 52

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks long-term capital growth Returns shown are after the MER has been deducted. • invests with above average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $2,197. RISK LEVEL This works out to an average return of 8.19% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value 3 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 50 44.05

1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 25 26.14 25.79 and can terminate the waiver at any time without notice. For the period ending 16.79 12.24 December 31, 2020, the waiver was set at 0.05%. 7.95 7.26 2 Fund closed to new investments. 0

-6.43 -12.06

-25 -23.06 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

88 ASIAN PACIFIC (DYNAMIC) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

89 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex EMERGING MARKETS (JARISLOWSKY FRASER) FUND2 Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: October 28, 2019 Management Expense Ratio (MER)1: 4.41% Total Fund Value: $38.7 million Portfolio Advisor: Jarislowsky Fraser Limited Net Asset Value per Unit: $12.18 Portfolio Turnover Rate: 22.66% Number of Units Outstanding: 3,140,748 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Jarislowsky Fraser Emerging Markets Fund, which mainly invests in stocks of companies located around the world having commercial activities in emerging markets. Top 10 investments of the Fund Investment segmentation of the Fund

Samsung Electronics Co. Ltd., Sponsored GDR 7.80% Asia and Pacific 80.79% Taiwan Semiconductor Manufacturing ADR 7.50% Latin America 7.82% Alibaba Group Holding Ltd., Sponsored ADR 7.20% Europe 5.57% Tencent Holdings Ltd. 7.20% Mid-east and Africa 2.25% Ping An Insurance Group Co of China Ltd. 3.10% Short Term and others 2.10% Meituan-Dianping 3.10% North America 1.47% Tata Consultancy Services Ltd. 3.00% Total 100.00% Wuxi Biologics Cayman Inc. 2.80% Airtac International Goup 2.30% New Oriental Education & Technology Inc. 2.20% Total 46.20%

Total investments: 61

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks long-term capital growth Returns shown are after the MER has been deducted. • invests with above average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information A person who invested $1,000 in the fund 10 years ago (or since the date Folder for further details. it was first offered under Ecoflex if less than 10 years) now has $1,207. RISK LEVEL This works out to an average return of 17.34% a year. Low to Moderate YEAR-BY-YEAR RETURNS Low moderate Moderate to high High This chart shows how the segregated fund has performed for the last year and how the underlying fund performed for 4 years before that. If the segregated ARE THERE ANY GUARANTEES? fund had existed during this period, its return would likely have been slightly This fund is offered under an insurance contract. It comes with guarantees lower. In this period, the funds were up in value 3 years and down in value 2 that may protect your investment if the markets go down. years. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 30 22.47 20 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 15.28 10.88 and can terminate the waiver at any time without notice. For the period ending 10 December 31, 2020, the waiver was set at 0.05%. 0 2 Fund closed to new investments. -1.59 Fund -10 -10.88 Underlying fund -20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

90 EMERGING MARKETS (JARISLOWSKY FRASER) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

91 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex GLOBAL HEALTH CARE (RENAISSANCE) FUND2 Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: September 20, 2001 Management Expense Ratio (MER)1: 3.81% Total Fund Value: $273.8 million Portfolio Advisor: CIBC Asset Management Net Asset Value per Unit: $41.72 Portfolio Turnover Rate: 8.74% Number of Units Outstanding: 4,839,239 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Renaissance Global Health Care Fund, which mainly invests in medium and large capitalization companies engaged in the design, development, manufacturing and distribution of products or services in the healthcare sector. Top 10 investments of the underlying fund Investment segmentation of the underlying fund UnitedHealth Group Inc. 6.22% United States 68.77% Pfizer Inc. 4.85% Japan 7.44% Eli Lilly and Co. 4.79% United Kingdom 7.28% AstraZeneca Group PLC 4.57% Switzerland 5.55% Novartis AG, Sponsored ADR 4.46% Other countries 5.52% Thermo Fisher Scientific Inc. 4.19% Short Term and others 3.69% Bristol-Myers Squibb Co. 4.02% Ireland 1.75% Abbott Laboratories 3.31% Total 100.00% Danaher Corp. 2.93% Boston Scientific Corp. 2.90% Total 42.24%

Total investments: 95

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to obtain a high capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $3,725. RISK LEVEL This works out to an average return of 14.05% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 9 years and down in value ARE THERE ANY GUARANTEES? 1 year. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 60 51.31

40 1 33.46 iA Financial Group is currently waiving a portion of the operating expenses for this fund 30.18 and can terminate the waiver at any time without notice. For the period ending December 31, 2020, the waiver was set at 0.05%. 20 15.93 11.32 7.08 8.25 2 Fund closed to new investments. 4.52 5.46 0

-20 -14.07 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

92 GLOBAL HEALTH CARE (RENAISSANCE) FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

93 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex REAL ESTATE INCOME FUND2 Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: November 1, 2003 Management Expense Ratio (MER)1: 2.95% Total Fund Value: $72.1 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $33.59 Portfolio Turnover Rate: 44.32% Number of Units Outstanding: 1,802,197 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund mainly invests in trust units of Canadian companies and short-term fixed-income securities issued and guaranteed by the federal and provincial governments as well as Canadian corporations. Top 10 investments of the Fund Investment segmentation of the Fund

RioCan Real Estate Investment Trust 8.32% Canadian Equity 97.13% Granite Real Estate Investment Trust 7.62% Short Term and others 2.43% Canadian Apartment Properties Real Estate Investment Trust 7.42% U.S. Equity 0.44% Allied Properties Real Estate Investment Trust 7.16% Total 100.00% InterRent Real Estate Investment Trust 5.10% Smart Real Estate Investment Trust 3.97% CT Real Estate Investment Trust 3.89% Choice Properties Real Estate Investment Trust 3.71% H&R Real Estate Investment Trust 3.67% Dream Industrial Real Estate Investment Trust 3.62% Total 54.48%

Total investments: 43

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks to obtain a regular long-term income Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $1,732. RISK LEVEL This works out to an average return of 5.65% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 7 years and down in value 3 years. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 20 16.50 15.23 16.34 12.12

1 10 iA Financial Group is currently waiving a portion of the operating expenses for this fund 6.81 6.26

and can terminate the waiver at any time without notice. For the period ending 0.83 December 31, 2020, the waiver was set at 0.05%. 0 -1.94 -1.79 2 Fund closed to new investments. -10 -10.23

-20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

94 REAL ESTATE INCOME FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

95 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. Ecoflex U.S. DAQ INDEX FUND2 Information as at December 31, 2020 QUICK FACTS Date of first offer under Ecoflex: December 31, 1999 Management Expense Ratio (MER)1: 3.22% Total Fund Value: $564.8 million Portfolio Advisor: iA Investment Management Net Asset Value per Unit: $25.43 Portfolio Turnover Rate: 121.74% Number of Units Outstanding: 16,545,766 Minimum Investment: $25

WHAT DOES THIS FUND INVEST IN? This fund seeks to replicate the NASDAQ 100 Index®. This index is characterized by the securities of companies that offer promising products and services such as telecommunications equipment, computer services, high-technology products, etc. Top 10 investments of the Nasdaq 100 Index Investment segmentation of the Fund

Apple Inc. 10.90% U.S. Equity 95.96% Invesco Qqq Trust, Series 1 10.17% Foreign Equity 3.10% Microsoft Corp. 8.12% Short Term and others 0.94% Amazon.com Inc. 7.89% Total 100.00% Tesla, Inc. 4.00% Facebook Inc. 3.17% Alphabet Holding Company Inc., Class C 2.79% Alphabet Holding Company Inc. 2.55% Nvidia Corp. 2.38% PayPal Holdings Inc. 2.02% Total 53.99%

Total investments: 103

WHO IS THIS FUND FOR? HOW HAS THE FUND PERFORMED? The fund may be suitable for an investor who: This section tells you how the fund has performed over the past years. • seeks capital appreciation Returns shown are after the MER has been deducted. • invests with average risk tolerance Important: Past performance does not indicate how the fund will perform in the • is planning to invest for the medium to long term future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. HOW RISKY IS IT? AVERAGE RETURN The value of your investment can go down. Please refer to the Information Folder for further details. A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under Ecoflex if less than 10 years) now has $5,980. RISK LEVEL This works out to an average return of 19.58% a year. Low to Moderate Low moderate Moderate to high High YEAR-BY-YEAR RETURNS This chart shows how the segregated fund has performed for the last 10 years. In this period, the fund was up in value 10 years and down in value 0 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes the insurance cost for the guarantees. For details, % please refer to the Information Folder and the contract. 50

41.38 41.12 40 1 iA Financial Group is currently waiving a portion of the operating expenses for this fund 30 27.82 and can terminate the waiver at any time without notice. For the period ending 26.10 26.49 December 31, 2020, the waiver was set at 0.05%. 20 19.97 2 Fund closed to new investments. 12.13 10 5.56 2.72 0.79 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

96 U.S. DAQ INDEX FUND

Sales Charge Option What You Pay How It Works

*MER shown may differ from actual MER.

WHAT IF I CHANGE MY MIND? FOR MORE INFORMATION You may change your mind within two business days of the earlier of: This summary may not contain all the • the date you received confirmation or information you need. Please refer • five busines s days after it is mailed. to the Information Folder and the You may also change your mind about subsequent transactions you make under the contract within two contract. business days of the earlier of: iA Financial Group • the date you received confirmation of the transaction or 1080 Grande Allée West • five business days after it is mailed. PO Box 1907, Station Terminus In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, Quebec City, QC G1K 7M3 by e-mail, fax or letter, that you want to cancel. The amount returned will be the lesser of: 1 844 442-4636

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Industrial Alliance Insurance andFinancialServices Inc. iA FinancialGroupis abusinessnameandtrademarkof 1 844442-4636 Quebec City,QCG1K7M3 PO Box1907,StationTerminus 1080 GrandeAlléeWest iA FinancialGroup iA FinancialGroup,pleasecontacttheheadoffice: For anycommentsoradditionalinformationregarding

under theticker symbolIAG. listed onthe Toronto Stock Exchange country. iAFinancialGroupstock is publicly tradedcompaniesinthe in Canadaandoneofthelargest life andhealth insurance companies groups. Itisoneofthefour largest for bothindividualsand services and otherfinancialproducts insurance, mortgagesandcarloans RRSPs, securities,autoandhome funds, savings andretirementplans, products, mutual andsegregated offers life andhealthinsurance Founded in1892, iAFinancialGroup About iAFinancialGroup As at December 31,2020 Fund Facts respecting insurance(Quebec). Inc., whichisincorporatedunder Alliance InsuranceandFinancialServices The contractisadministeredbyIndustrial An Act ia.ca

F14A-3(21-05)