AS AT April 30, 2020 JUNE 2020 CORPORATE BOND TRUST

CBT.UN

INVESTMENT STRATEGY FUND OBJECTIVE

The June 2020 Corporate Bond Trust obtains exposure Return to holders of Units (“Unitholders”), including through to a portfolio comprised primarily of debt securities of Principal Distributions, the original issue price of $10.00 per Unit Canadian and U.S. corporate issuers. on or before June 30, 2020 Generate an average annual total return 6 of 3.00% (Class A Units) and 3.50% (Class T Units)

6. After fees and expenses

FUND DETAILS CREDIT RATING BREAKDOWN (%)

Trading Symbol CBT.UN (TSX) Rating Weight Portfolio Manager Fiera Capital Corporation A+ 10.3 Date of Inception October 31, 2016 A 24.0 Units Outstanding 1 2,772,198 A- 25.4 Total Net Assets 1 $25,633,182 BBB 27.7 Management Fee 0.70% BBB- 8.3 Issue Price (Class T) $10.00 B+ 4.3 Opening NAV per Unit (Class T) $9.98 C 0.0 Current NAV per Unit 2 (Class T) $9.38 Market Price per Unit (Class T) $9.10 SECTOR BREAKDOWN (%)

1. Sum of all Classes of the Fund Sector Weight 2. Not including distributions Financial 59.7 Energy 26.5 STATISTICS 3 Industrial 8.2 Weighted Average Credit Rating 4 BBB Communication 4.3 Weighted Average Term to Maturity 0.69 years Real Estate 1.4 Weighted Average Duration 0.67 years

3. Sourced from Bloomberg 4. Highest Rating from S&P, Moody’s and DBRS

DISTRIBUTIONS

Distribution Frequency Quarterly Latest Distribution $0.0875 (March 31, 2020) Distributions Since Inception (Class T) $1.2250 NAV plus Distributions (Class T) $10.60 Current Yield 5 (Class T) 3.85%

5. Based on Market Price as at April 30, 2020 AS AT April 30, 2020 JUNE 2020 CORPORATE BOND TRUST

CBT.UN

VALUE PROPOSITION

Direct Bonds Bond Funds CBT.UN Access to supply of bonds Challenging Yes Yes Reinvestment Risk No Yes No Diversification Challenging Yes Yes

PORTFOLIO HOLDINGS

Issuer Current Weight Maturity /Next Call Date Highest Rating 1. Toronto-Dominion Bank/The 13.76% 09/30/2020 A 2. Bank of Nova Scotia/The 13.01% 12/08/2020 A- 3. Bank of 12.35% 12/08/2020 A- 4. CIBC 10.27% 01/26/2021 A 5. Royal Bank of Canada 10.26% 01/20/2021 A+ 6. Capital Power Corp 9.83% 11/16/2020 BBB 7. TransAlta Corp 8.35% 11/25/2020 BBB- 8. Veresen Inc 8.30% 11/10/2021 BBB 9. Reliance LP 8.15% 09/15/2020 BBB 10. Sprint Communications Inc 4.30% 08/15/2020 BB+ 11. Morguard Corp 1.40% 11/18/2020 BBB 12. JC Penney Corp Inc 0.00% 06/01/2020 C

CLIENT SERVICES

Fiera Capital Corporation T 514 954-3725 1501 McGill College Avenue, Suite 800 T 1 866 323-5598 (Toll Free) Montreal, , Canada H3A 3M8 [email protected] fiera.com

The June 2020 Corporate Bond Trust (the “Fund”) is a non-redeemable investment fund. The information contained herein is an overview only and is qualified by more detailed information contained in the prospectus. You will usually pay brokerage fees to your dealer if you purchase or sell units of the the Fund on the TSX. If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of the Fund. An investment fund must prepare disclosure documents that contain key information about the Fund. You can find more detailed information about the Fund in these documents. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.