SUMMARY OF INVESTMENT PORTFOLIO As at March 31, 2021 The Summary of Investment Portfolio may change due to ongoing portfolio transactions. Updates are available quarterly on our website at www.dynamic.ca 60 days after quarter end, except for June 30, which is the fiscal year end, when they are available after 90 days. The total net asset value of the Fund as at March 31, 2021 was $646,062,000. Percentage of net Percentage of net By Asset Type asset value † Top 25 Holdings asset value † Equities 97.2 Intact Financial Corporation 5.6 Cash and Short Term Instruments (Bank Overdraft) 2.9 Canadian National Railway Company 5.4 Other Net Assets (Liabilities) -0.1 West Fraser Timber Co. Ltd. 5.0 Facebook, Inc., Class "A" 4.2 Microsoft Corporation 4.2 Percentage of net Canadian Pacific Railway Limited 4.1 By Country / Region (1) asset value † Alphabet Inc., Class "C" 4.0 Canada 57.2 National Bank of Canada 4.0 United States 40.0 Amazon.com, Inc. 3.7 Cash and Short Term Instruments (Bank Overdraft) 2.9 Trisura Group Ltd. 3.6 NVIDIA Corporation 3.5 Percentage of net Toronto-Dominion Bank (The) 3.1 By Industry (1)(2) asset value † Brookfield Asset Management Inc., Class "A" 3.1 Financials 26.4 Sherwin-Williams Company (The) 3.0 Information Technology 17.7 Apple Inc. 3.0 Consumer Discretionary 14.6 Visa Inc., Class "A" 2.9 Industrials 14.1 Cash and Short Term Instruments (Bank Overdraft) 2.9 Communication Services 8.2 Royal Bank of Canada 2.9 Materials 7.3 Nuvei Corporation, Subordinated Voting 2.5 Health Care 4.1 Danaher Corporation 2.4 Consumer Staples 3.9 CCL Industries Inc., Class "B" 2.3 Cash and Short Term Instruments (Bank Overdraft) 2.9 CGI Inc. 2.2 Energy 0.9 Dollarama Inc. 2.1 Alimentation Couche-Tard Inc., Class "B", Subordinated Voting 2.0 NIKE, Inc., Class "B" 2.0 (1) Excludes other net assets (liabilities) and derivatives. (2) Excludes bonds and debentures. † This refers to transactional net asset value. dynamic.ca Dynamic Funds · Dynamic Funds' ~ areg istered trademark ot its owner, used under license. and adivision ot 1831 Asset Management LP. Invest with advice. .