Mawer Global Small Cap Fund (Series A) As at June 30, 2017 Morningstar RatingTM:

Fund Details What Does The Fund Invest In? The Fund invests primarily in equity and equity-related securities of Fund Managers: Paul Moroz, CFA smaller companies around the world with less than $3 billion USD in Christian Deckart, CFA, Ph.D market cap at time of purchase. The amount invested in any one country will vary depending upon individual company by company opportunities Fund Inception Date: October 2, 2007 in each area. The Fund will diversify through currencies, industries, and Fund Net Asset Value: $2,283.0 million countries to increase safety, and to increase the growth and liquidity of Total Net Asset Value (Series A): $625.2 million the investments. Treasury bills or short-term investments, not Net Asset Value Per Unit: $15.19 exceeding three years to maturity, may also be used from time to time. Number of Holdings1: 76 Investor Suitability Number of Countries1: 23 Investors seeking long-term, above average growth who can tolerate significant volatility. High risk. RRSP Eligibility Yes Management Expense Ratio: 1.81% (as at Dec 31, 2016) Investment Strategy In order to achieve its investment strategy objectives, the Manager Trading Expense Ratio2: 0.07% (as at Dec 31, 2016) systematically creates a broadly diversified portfolio of wealth-creating Fund Code: MAW150 companies with excellent management teams bought at discounts to Minimum Investment: $5,000 their intrinsic values. The Manager employs a highly disciplined, research-driven, bottom-up process and long-term holding period to * allow for investor recognition or corporate growth, and to minimize Net Performance 1 Yr 3 Yr 5 Yr 10 Yr transaction costs. Mawer Global Small Cap Fund 18.6 13.8 22.0 - Global Small Cap Benchmark** 21.8 12.0 16.7 -

Equity Sector Weights % Top 25 Holdings % Weight Consumer Discretionary 11.1  Cash & Equivalents 7.8 Consumer Staples 13.8  Constellation Software Inc. 4.0 Energy 0.8  Amsterdam Commodities N.V. 3.2 Financials 12.8  Cembra Money Bank AG 3.2 Health Care 3.4  Plc 3.1 Industrials 24.0  Loomis AB Class B 2.9 Information Technology 16.8  VZ Holding AG 2.7 Materials 7.6  TSURUHA Holdings, Inc. 2.6 Real Estate 1.0  APN Outdoor Group Ltd. 2.6 Telecommunication Services 1.0  XP Power Ltd. 2.5 Utilities 0.0  PayPoint plc 2.5 Cash & Equivalents 7.8  Origin Enterprises Plc 2.5 Plc 2.3 Top 10 Countries % Diploma PLC 2.2 22.8  Bechtle AG 2.2 Sweden 8.5  LIC Housing Finance Ltd 2.2 United States 8.4  RPM International Inc. 2.0 Switzerland 5.9  Addtech AB Class B 1.9 5.7  Jardine Lloyd Thompson Group plc 1.7 India 5.3  Hansen Technologies Limited 1.7 Germany 4.6  Balkrishna Industries Limited 1.6 Japan 4.4  DCC Plc 1.6 Canada 4.0  Tikkurila Oyj 1.6 Netherlands 3.7  Indutrade AB 1.6 PC Jeweller Ltd. 1.5

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Fund Profiles – 2Q17 – Page 1 of 2 1 Equity holdings, excluding cash. 2 The trading expense ratio represents total commissions and other portfolio transaction costs expressed as an annualized percentage of daily average net assets during the year. * Mawer Fund returns are calculated after management fees and operating expenses have been deducted. In comparison, index returns do not incur management fees or operating expenses. ** Mawer Global Small Cap Benchmark History: Oct 2007: Russell Global Small Cap Oct 2016: ACWI Small Cap (net) Total Return Index Rationale for Change: MSCI ACWI Small Cap (Net) Index is consistent with using MSCI benchmarks in other asset classes outside of Canada and the United States. In addition, the MSCI ACWI Small Cap (Net) Index follows the Global Investment Classification Standards (GICS) whereas the Russell Global Small Cap Index does not. Mawer Funds are managed by Mawer Investment Management Ltd. This document is for information purposes only. Before investing, please consult the simplified prospectus, available at www.sedar.com, and the Fund Facts. Both documents provide additional information about the funds. Mutual funds are not guaranteed. Values can change frequently and past performance is not indicative of future performance. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. (Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per share or that the full amount of your investment will be returned to you.) Performance returns for the Mawer Mutual Funds are calculated by Mawer Investment Management Ltd. These returns are historical simple returns for the 1 year period and are annualized compounded total returns for periods after 1 year. They include changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Index returns are supplied by a third party – we believe the data to be accurate, however, cannot guarantee its accuracy. © 2016 Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) in not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Morningstar Ratings reflect performance as of 06/30/2017 and are subject to change monthly. The ratings are calculated from a fund’s 3,5,and 10-year returns measured against 91-day Treasury bill and peer group returns. The top 10% of the funds in a category get five stars. The Overall Rating is a weighted combination of the 3,5 and 10-year ratings. For greater detail see www. morningstar.ca

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