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Mastering the HNW Market

August 9, 2025

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Gifts = Trends in the Market Place by 2032

^{Aging Population}

^{Growth of the HNW Segment}

^{Intergenerational Wealth Transfer}

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A change in the demographic landscape

For aging and affluent investors, wealth transfer is on their minds.

4

²Population projections for Canada, Provinces and Territories: Interactive Dashboard. (Statistics Canada, June 24, 2024). Retrieved Oct. 1, 2024, from https://www150.statcan.gc.ca/n1/pub/71-607-x/71-607-x2022015-eng.htm. ^�32023 Household Balance Sheet Report – Canada. (Toronto: Investor Economics, 2023).

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

Aging population

22.1% of Canadians will be age 65 or older by 2032.²

Growth of the high end ($500K+) segment

By 2032, this segment will represent 18.5% of total households, controlling 91.5% of total financial wealth.³

Shifting demographic trends have cast a new light on the unique advantages segregated fund policies offer when it comes to intergenerational wealth transfer.

Intergenerational �wealth transfer

Canadian households are expected to transfer $1,275 billion from one generation to the next by 2032.³

CONFIDENTIAL 4

August 5, 2025

For aging and affluent investors, safeguarding the wealth they’ve accumulated as they transition to retirement, and passing on what they can to the next generation, is top of mind.
Aging population:

The last cohort of baby boomers – born in 1965 – will turn 65 in 2030. By 2032, more than 1 in 5 Canadians will be age 65 or older.
At this stage in their lives, many of your clients in this demographic have worked hard to build their savings. They’re now focused on preserving their wealth through retirement, and if possible, leaving a legacy.
Growth of the high end segment:
This segment represents both affluent ($1M+) and upscale ($500K-$1M) cohorts.
By 2032, they’ll represent 18.5% of total households, and they will control more than 90% of the total financial wealth
Because of their sizeable wealth, a smooth transition of wealth that maximizes what’s left behind is of utmost importance.
With $1,275 billion in assets expected to be transferred from one generation to the next by 2032, it’s an opportunity you don’t want to miss.
Segregated fund policies provide unique advantages when it comes to intergenerational wealth transfer. Offering them as a solution can help you differentiate yourself in a competitive environment.

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The Millionaire Next Door…

Divorce

Widowers

Intergenerational

$860 billion

$1.275 trillion

$1.648 trillion

Financial wealth by age

Wealth transfer 2022 -2032

Source: ISS MI Market Intelligence

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The trillion dollar opportunity – Intergenerational wealth transfer

6

$1,275T

2023

2032

Financial wealth $840B

Real estate $435B

Source: 2023 Household Balance Sheet Report – Canada. (Toronto: Investor Economics, 2023).

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

CONFIDENTIAL 6

August 5, 2025

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Segregated fund industry assets are expected to keep growing

Since their introduction more than 60 years ago, segregated funds have experienced growth in the Canadian market.

This growth is expected to continue �into 2032.

Clients and advisors continue to choose Canada Life as �a segregated fund provider.

We rank second in gross segregated fund sales (YTD).¹

7

¹ Source: Investor Economics as of Sept. 30, 2024 (year-to-date).

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

Since their introduction more than 60 years ago, segregated funds assets have experienced growth in the Canadian market.
Industry assets are expected to continue growing:

From 2012 to 2022, assets under management within Canada nearly doubled, growing grew from $189 billion to $345 billion.
From 2022 to 2032, the increase is projected to be even greater, with compound annual growth of 5% to bring assets up to $562 billion.

Clients and advisors are continuing to choose Canada Life as a top provider to meet their segregated fund needs. We continue to see growth in our own segregated fund sales, ranking second in gross sales as at Sept. 30, 2024 (year to date).
[Explanation of double counting note in graph] Adjustments have been made for double counting in the total: This means that assets captured are exclusively segregated fund assets; segregated funds that wrap mutual funds or ETFs have been excluded from the asset count to provide clean data.

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8

How segregated funds solve HNW client problems

1

Approaching the HNW client market

HNW Investment Strategies

Agenda

2

3

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Persistent market volatility and economic uncertainty

Volatility in the markets can be stressful, even for the most seasoned investors.

9

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

The maturity and death benefit guarantees of segregated fund policies offer your clients protection for their principal investment, helping to give them the confidence to stay invested.

CONFIDENTIAL 9

August 5, 2025

Persistent market volatility and economic uncertainty over the last few years has made some investors hesitant to invest in the markets. While it would be great to envision a world where the markets are always rising, that’s not the way the economy works.

So where can investors find a comforting amount of protection during times of financial instability? This is where seg fund policies come into the picture.

They help by providing investors with the ability to participate in the markets while providing maturity and death benefit guarantees to protect their principal investment, which can help give them the confidence to stay invested.
Plus, optional death benefit guarantee resets can lock in investment growth, helping to reflect the current market value of their investments going forward.
The impact of guarantees could be significant if the policy matures, or the annuitant passes away, during a period of market volatility. If time isn’t on your clients’ side, a significant market downturn has the potential to have a big impact on their savings, when it matters most.

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Where are we in the market cycle?

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Grow wealth by investing with a safety net

Segregated fund policies help give your clients the confidence to invest while offering insurance protection to preserve their savings.

Because they’re an insurance product, they offer unique advantages:

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Guaranteed savings protection

Maturity and death benefit guarantees help shield your clients’ contributions from market downturns.

^{4, 5, 6} See Footnotes and disclaimers slide.

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

Potential creditor protection

Segregated fund policies are generally protected from creditors.⁵

Guarantee resets

An optional death benefit guarantee reset locks in your clients’ investment growth each year when markets are favourable.⁴

Simplified estate planning

Money goes directly to beneficiaries, bypassing expensive and time-consuming estate settlement, all while keeping the details private.⁶

CONFIDENTIAL 11

August 5, 2025

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Guaranteed savings protection

Maturity and death benefit guarantees help shield your clients’ contributions from market downturns.

⁷ Guaranteed values will be reduced proportionally by any withdrawals.�⁸Certain segregated funds may not be available under all guarantee levels.

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

If the policy’s market value is less than its guaranteed amount – either at the policy maturity date or when the annuitant dies – the insurance protection will increase it to the chosen guaranteed amount: 75% or 100% of your contributions.⁷

Canada Life offers two guarantee levels, giving clients the flexibility to choose what best suits their needs.⁸

75% principal guarantee �at maturity and death

75% principal guarantee �at maturity, 100% at death

75/100

75/75

A segregated fund is a pool of money from many investors spread across different investments — with the underlying investments actively managed by a team of professional money managers.
You might think, “That sounds like a mutual fund to me”. But there’s a big difference.
A segregated fund policy is an insurance product offered exclusively by insurance companies. It combines the characteristics of mutual funds -- with the benefits of insurance. In other words, it provides the opportunity to invest with insurance protection to help preserve savings. Or… “investing with a safety net”, as we like to say.
This is where “maturity and death benefit guarantees” come in.
The policy owner’s contributions are protected in the form of guarantees. If the market value is less than the policy’s guaranteed amount - either at the policy’s maturity date or when the annuitant passes away - the insurer will top it up to the chosen guaranteed amount.
While there can be many client segments who can benefit from segregated fund policies, all share two common goals: capital preservation and estate planning. Maturity and death benefit guarantees help achieve these goals.
At Canada Life, we offer the choice of three guarantee levels: 75/75 and 75/100.
While guarantee levels can vary by the type of fund selected, we have options to give your clients flexibility to suit their needs.

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Guaranteed savings protection

13

A base policy with 75% maturity and death benefit guarantees.⁸

More protection with a 75% maturity guarantee and up to a 100% death benefit guarantee.⁸

Same protection as the 75/100 with an optional and automatic reset feature that increases the death benefit guarantee by locking-in gains when markets rise (additional fee applies).⁴

75 / 75

75 / 100

+ optional death benefit guarantee resets

⁸Canada Life segregated fund policies are available up to age 91 but with limitations on 75/100 guarantee after age 80 have a graded death benefit guarantee

⁴ The death benefit reset option is available on the 75/100 guarantee level and can only be added at time of application, for an additional fee. Once selected, reset options can’t be terminated. Reset fees vary based on fund selection and are collected annually from the policy. �For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

CONFIDENTIAL 13

August 5, 2025

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75/100 Segregated Fund - 100% death benefit guarantee

14

Deposits into the 75/100 contract after age 80 have a graded death benefit guarantee, starts at 75% and increases by 5% annually to 100% after 5 years.

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

CONFIDENTIAL 14

August 5, 2025

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Annual reset

X

Death benefit

Market value at death

Locked-in death benefit guarantee

*Hypothetical market values for illustrative purposes only.

Optional death benefit guarantee resets automatically lock in investment growth every year when markets are favourable.⁴

Guarantee resets

If the policy’s value grows, this feature locks in that growth by resetting the policy’s guaranteed amount.

Clients will get a higher guaranteed payout, which can help increase their long-term growth potential.

⁴ The death benefit reset option is available on the 75/100 guarantee level and can only be added at time of application, for an additional fee. Once selected, reset options can’t be terminated. Reset fees vary based on fund selection and are collected annually from the policy. For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

CONFIDENTIAL 15

August 5, 2025

Segregated fund guarantees become even more powerful when they’re reset.
This optional feature helps lock in investment growth, helping to reflect the current market value of their investments going forward.
How does it work?

If your client’s policy value grows, an automatic annual death benefit reset increases the guaranteed amount to lock in that growth. Their larger investment total becomes the amount protected by their chosen guarantees.

Here are a few other advantages of resets to consider:

Customizable to fit client needs: Clients can choose whether they see value in the optional reset. This flexibility allows them to benefit from a more customized policy and pricing; they’ll only pay for this benefit if they want or need it.
Set it and forget it: There are many things to keep track of when it comes to investments; guaranteed values don’t need to be one of them. With annual automatic resets, you don’t have to worry about keeping track of each client’s individual guaranteed values and policy anniversary dates or trying to optimally time resets with the markets. Resets are done automatically on an annual basis (when applicable), without any action required by you or your client.
Potential for higher growth: With the reset option, some clients may be able to tolerate more risk within their portfolios knowing there is the capital protection that may increase with the use of resets over time (when applicable). This may allow them to remain invested in funds with higher growth potential for longer, with the goal to provide beneficiaries a larger guaranteed amount in the event of the annuitant’s passing.

A death benefit guarantee reset option is an important feature of a segregated fund contract because it allows clients to grow and protect the value of their investments over time:

When markets rise and investments increase in value, an annual reset of the death benefit guarantee lets clients lock in that growth by increasing the death benefit guarantee of their policy to 100% of the higher market value.
This could provide security to clients knowing that upon their death their beneficiaries would receive a higher guaranteed amount that has kept pace with market growth.

Let’s look at an example:

If the client were to have passed at age 75 when the markets were in a downturn, their beneficiary would have received $149,000 guaranteed amount. This includes the market value of $132,000 plus a $17,000 top up to meet that guaranteed locked-in reset amount.
If the client had not selected the death benefit reset option, at time of death, their death benefit guarantee would be the market value of $132,000 without the $17,000 top up.

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Death Benefit Guarantee vs Death Benefit Reset Option

16

.

Ensures a minimum payout to the beneficiary upon the annuitant’s death, regardless of market performance.

Guarantees: 75% or 100% of original deposits (adjusted proportionately for withdrawals).

Age Restrictions:

75% Guarantee: Available for deposits up to age 90.
100% Guarantee: Only available immediately if deposits are made before age 80.
*Deposits into the 75/100 death benefit guarantee after age 80 have a graded death benefit guarantee that starts at 75%. (see appendix)

Death Benefit Guarantee:

.

Allows the death benefit guarantee to be automatically reset to the market value if it’s higher than the current guarantee annually on the policy anniversary date.

• Locks in market gains as the new death benefit guarantee.

• Availability: Only available for the 75/100 guarantee at the initial policy application stage and comes at an additional fee (see appendix)

• Age Restrictions: Resets stop at age 80 and must start before age 78

Optional Death Benefit Reset Option:

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

Please refer to representative guide or information folder for further information.

I wanted to take the time here to highlight the key features and limitations of the Death benefit guarantee and the optional death benefit reset feature

For the death benefit guarantee it will ensure a minimum payout to the beneficiary upon the annuitant’s death regardless of market performance

Clients can choose between 75% or 100% death benefit guarantee of the deposits which is adjusted proportionately for withdrawals.

The 75% guarantee is available immediately for deposits up to the clients 91^st birthday

The 100% guarantee is available immediately for deposits up to age 80, for deposits into the 75/100 guarantee after age 80 there is a graded death benefit that starts at 75% and increases annually by 5%; after 5 years the death benefit guarantee is 100%.

In terms of the optional death benefit guarantee reset option it will allow clients to automatically reset their death benefit guarantee to the higher market value annually on the policy anniversary date.

The reset option essentially locks in higher market gains as the new death benefit guarantee.

It is only available for the 75/100 guarantee at the initial policy application stage and comes at an additional fee between 11 and 21 bps depending on the fund. The reset option must start before age 78 and will stop at age 80 giving a final reset and the additional fee will drop off.

Please refer to the representative guide or information folder for further clarification.

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Segregated fund policies are generally �protected from creditors.⁵

Assets could be protected, even if the policyowner faces unexpected lawsuits or bankruptcy.
This helps ensure certain beneficiaries (like a spouse, child, parent or someone named irrevocably) are prioritized over creditors if the annuitant passes away.

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Potential creditor protection

⁵ Creditor protection depends on court decisions and applicable legislation, which can be subject to change and can vary from each province; it can never be guaranteed. Your client should talk to their lawyer to find out more about the potential for creditor protection for their specific situation.

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

CONFIDENTIAL 17

August 5, 2025

Many business owners overlook the fact that segregated funds can help shield their personal investments from creditors while still offering the potential for growth.
Consider the situation of a small business owner or sole proprietor whose business has begun to flourish:

Having maximized contributions to both RRSP and TFSA accounts, they find themselves looking for new avenues to grow their investments.
This raises concerns about protecting accumulated assets from potential liabilities or creditor claims.
Running a business can sometimes mean navigating risks such as lawsuits, business debts, and other personal liabilities.
This is where segregated fund policies become particularly valuable, if already in place. If the policyowner runs into tough financial times, like in the event of an unexpected lawsuit or bankruptcy, segregated fund policies can help protect their money.

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Segregated fund policies help make estate planning easy. Money goes directly to beneficiaries, bypassing expensive and time-consuming estate settlement, all while keeping the details private.⁶

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Beneficiaries receive a potentially higher payout.

Settlement can happen in as little as a few weeks.

Payout details are kept confidential

Efficiency

Privacy

Estate bypass

Simplified estate planning

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

CONFIDENTIAL 18

August 5, 2025

Segregated fund policies offer a simple and straightforward way to transfer wealth, simplifying the estate planning and settlement process.
There are a few ways they help achieve this:

Estate bypass:

Because the assets are held in an insurance policy, the policyowner can designate a named beneficiary directly, bypassing the estate. This is a powerful opportunity for non-registered assets in Canada, which must flow through the estate.
With a traditional estate, a significant portion of an estate’s value can be reduced by legal, executor and probate fees.
When assets are held in a segregated fund policy, the beneficiaries receive a potentially higher payout as these costs are eliminated. We will expand on this later.

Efficiency:

Can anyone tell me the average time it takes to settle an estate here in Canada?
By using a segregated fund policy, assets can be distributed in as little as a few weeks, avoiding the delays associated with traditional estate settlement through a will. This can help reduce stress for beneficiaries during a difficult and emotional time.

Privacy:

One of the most overlooked features of a segregated fund is Privacy something you just cant put a price on especially for high net worth individuals. In Ontario once the executor has filled for probate the Will is a matter of public knowledge and can be searched for at the courthouse.
Tensions can escalate when everyone has visibility to how the estate is divided among beneficiaries.
With a seg fund policy, payout details are kept confidential.
The death benefit will be paid out exactly as the policyowner chooses and they have the option to decide how that money is paid out – either as a lump sum or (one time) in an annuity (ongoing) – using the settlement option election form. Plus, the policyowner can easily make changes to beneficiaries when they want – and it won’t cost them a cent.
[See appendix slide re: Settlement option election form]

Together, these advantages can help make the estate settlement process much smoother for everyone involved.

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Traditional estates are often entangled in fees. Segregated fund policies aren’t.

When assets are held in a segregated fund policy, they bypass traditional estate fees that can bring down the estate’s value.⁶ With a segregated fund policy, more money is left behind for the beneficiaries.

19

^{6 ,11}See Footnotes and disclaimers slide.

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

Help your clients maximize their legacy

Costs that may impact a client’s legacy	Potential cost¹¹	Potential impact �on a $1,500,000 estate
Legal fees and settlement	2.5% to 5%	$37,500 to $75,000
Executor fees	5%	$75,000
Estate (Probate) fees	1.5% on the amount over $50,000	$21,750
Total cost of traditional estate	8.9% or more	$134,250 to $171,750

CONFIDENTIAL 19

August 5, 2025

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20

Settling the Estate - Traditional Assets vs Segregated Funds

All amounts shown above are estimates that apply to this specific example; we do not guarantee their accuracy or completeness. Estate fees vary by province and the example above is based on Ontario regulations. Legal and accounting fees vary depending on the complexity of estate settlement. Liquidator / Executor fees may vary and be waived.

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

CONFIDENTIAL 20

August 5, 2025

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21

How segregated funds solve HNW client problems

1

Approaching the HNW client market

HNW Investment Strategies

Agenda

2

3

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Best In Class Investment Managers

23

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

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Industry Recognition: FundGrade A+ Awards

31 of our Segregated Funds received FundGrade A+ awards = #1 in industry

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Canada Life + Primerica Segregated Fund Shelf

25

Fixed income funds

Diversified Fixed Income Allocation (PSG)
Canadian Core Bond (Mackenzie)
Global Multi-Sector Bond (Brandywine)

Managed solutions

Advanced Allocation (PSG)
Aggressive Allocation (PSG)
Balanced Allocation (PSG)
Conservative Allocation (PSG)
Risk-Managed Growth Portfolio (ILIM)
Risk-Managed Balanced Portfolio (ILIM)
Risk-Managed Conservative Income Portfolio (ILIM)

Cash and equivalent funds

Money Market (Mackenzie)

Balanced funds

Strategic Income (Mackenzie)
Canadian Stock Balanced (Mackenzie)
Fidelity Global Income Portfolio (Fidelity)
Fidelity Global Balanced Portfolio (Fidelity)
Canadian Value Balanced (Beutel Goodman)
Global Value Balanced (Beutel Goodman)
Global Growth Opportunities Balanced (Mackenzie)

Canadian equity funds

Canadian Dividend (Mackenzie)
Canadian Growth (Mackenzie)
Canadian Focused Growth (Mackenzie)
Fidelity True North® (Fidelity)
Canadian Dividend and Income (AGF)

U.S. equity funds

American Growth (AGF)
U.S. All Cap Growth (Putnam)
U.S. Value (Putnam)
U.S. Concentrated Equity (Aristotle)

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

Global equity funds

Global Dividend and Income (AGF)
Global Growth Opportunities (Mackenzie)
Fidelity Global Equity (Fidelity)
Global Founders (Beutel Goodman)

CONFIDENTIAL 25

August 5, 2025

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What are your HNW clients’ investment objectives?

“Give me money”�INCOME GENERATION

“Protect my money”�CAPITAL PRESERVATION

“Grow my money”�CAPITAL GROWTH

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Canada Life + Primerica Segregated Fund Shelf

28

Fixed income funds

Diversified Fixed Income Allocation (PSG)
Canadian Core Bond (Mackenzie)
Global Multi-Sector Bond (Brandywine)

Managed solutions

Advanced Allocation (PSG)
Aggressive Allocation (PSG)
Balanced Allocation (PSG)
Conservative Allocation (PSG)
Risk-Managed Growth Portfolio (ILIM)
Risk-Managed Balanced Portfolio (ILIM)
Risk-Managed Conservative Income Portfolio (ILIM)

Cash and equivalent funds

Money Market (Mackenzie)

Balanced funds

Strategic Income (Mackenzie)
Canadian Stock Balanced (Mackenzie)
Fidelity Global Income Portfolio (Fidelity)
Fidelity Global Balanced Portfolio (Fidelity)
Canadian Value Balanced (Beutel Goodman)
Global Value Balanced (Beutel Goodman)
Global Growth Opportunities Balanced (Mackenzie)

Canadian equity funds

Canadian Dividend (Mackenzie)
Canadian Growth (Mackenzie)
Canadian Focused Growth (Mackenzie)
Fidelity True North® (Fidelity)
Canadian Dividend and Income (AGF)

U.S. equity funds

American Growth (AGF)
U.S. All Cap Growth (Putnam)
U.S. Value (Putnam)
U.S. Concentrated Equity (Aristotle)

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public.

Global equity funds

Global Dividend and Income (AGF)
Global Growth Opportunities (Mackenzie)
Fidelity Global Equity (Fidelity)
Global Founders (Beutel Goodman)

CONFIDENTIAL 28

August 5, 2025

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Risk-Managed Portfolios

29

Risk-Managed

Conservative Income Portfolio

Fixed Income

Equity

Risk-Managed

Balanced Portfolio

Risk-Managed

Growth Portfolio

Pie chart graphic for illustrative purposes only. Refer to fund profiles on counselportfolios.ca for current asset allocations.

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30

3

funds

Sophisticated Portfolio Construction

+

Strategies identified by Canada Life’s Investment Manager Research team

Use to achieve growth

Use where markets are most efficient

active strategies

passive strategies

non-traditional strategies

Use for risk mitigation

Source of uncorrelated returns and added diversification

For wholesaler and advisor use only. Not to be shared with clients.

Canada Life

Risk-Managed

Conservative Income

Portfolio

Canada Life

Risk-Managed

Balanced

Portfolio

Canada Life

Risk-Managed

Growth

Portfolio

CONFIDENTIAL 30

August 5, 2025

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31

3

funds

Non-traditional approaches are layered in to manage risk

Non-traditional equity strategies

Non-

traditional fixed income strategies

Canada Life Risk Reduction Pool Fund

Canada Life Low Volatility Equity Fund
Canada Life Global Tactical Fund

Canada Life Global Multi-Sector Bond Fund
Mackenzie U.S. High Yield Bond Index ETF
Mackenzie Emerging Market Bond Index ETF

A solution that seeks to balance managing �risk with growing savings

For wholesaler and advisor use only. Not to be shared with clients.

Canada Life

Risk-Managed

Conservative Income

Portfolio

Canada Life

Risk-Managed

Balanced

Portfolio

Canada Life

Risk-Managed

Growth

Portfolio

Non-traditional alternative strategies

CONFIDENTIAL 31

August 5, 2025

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32

3

funds

Equity Option Collar Strategy

Options are used to create a protected corridor of returns

To help pay for this protection, the fund manager can sell call options (the option to buy a specific amount of a security at a pre-determined price within a certain period) on the same equities.

This effectively trades upside potential for income aiming to effectively limit downside.

For wholesaler and advisor use only. Not to be shared with clients.

Canada Life

Risk-Managed

Conservative Income

Portfolio

Canada Life

Risk-Managed

Balanced

Portfolio

Canada Life

Risk-Managed

Growth

Portfolio

The fund manager buys put options (an option to sell a specific amount of a security at a pre-determined price within a certain period) as a form of protection, aiming to effectively limit downside.

CONFIDENTIAL 32

August 5, 2025

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34

How segregated funds solve HNW client problems

1

Approaching the HNW client market

HNW Investment Strategies

Agenda

2

3

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Remarkable Client Experiences

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Remarkable Client Experiences

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The Experience Economy – The Birthday Cake

Extract

Make

Delivery

Stage

Commoditization

Personalization

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The Commodity Trap vs. The Value Chain

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The Value of Advice

Comprehensive Financial Planning

Retirement Planning

Tax & Estate Planning

Charitable Giving

Legacy Planning �& Wealth Transfer

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Do you have a HNW Client Experience Playbook?

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Customized Investment Proposal

41

August 5, 2025

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public as it does not comply with investor sales communication rules.

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We are an extension of your team…

Michel Monette, BAA, Pl. Fin,

Wealth Planning Strategist, Private Wealth

Mark Lu, CFA, CFP, FCSI

Wealth Planning Strategist, Private Wealth

Paul-Simon Ghoche, CFA, FCSI

Director, Private Wealth

Kelvin K.C. Wong, CFA

Director, Private Wealth

Richard Chang, CPA, CA�Director, Tax & Estate Planning

Wilmot George Jr., CFP, TEP, CLU, CHS, BA (Hons)

Managing Director, Tax & Estate Planning

Directors of Estate & Tax Planning

Wealth Planning Strategists

Directors of Private Wealth

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Create Value for HNW Clients – Executors/Family Meetings

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High-Net-Worth Cases in Action

	High-net-worth cases
	2024	2023	2022
$10M +	7	16	9
$5M < $10M	25	15	11
$1M < $5M	752	537	464
$500K < $1M	2,202	1,576	1,604
Total high-net-worth cases	2,986	2,144	2,088

For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public as it does not comply with investor sales communication rules.

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Gifts = Trends in the Market Place by 2032

^{Aging Population}

^{Growth of the HNW Segment}

^{Intergenerational Wealth Transfer}

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Mastering the HNW Market

August 9, 2025

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Footnotes and disclaimers (1)

¹ Source: Investor Economics as of Sept. 30, 2024.

² Population projections for Canada, Provinces and Territories: Interactive Dashboard. (Statistics Canada, June 24, 2024). Retrieved Oct. 1, 2024, from https://www150.statcan.gc.ca/n1/pub/71-607-x/71-607-x2022015-eng.htm.

³ 2023 Household Balance Sheet Report – Canada. (Toronto: Investor Economics, 2023).

⁴ The death benefit reset option is available on the 75/100 guarantee level and can only be added at time of application, for an additional fee. Once selected, reset options can’t be terminated. Reset fees vary based on fund selection and are collected annually from the policy.

⁵ Creditor protection depends on court decisions and applicable legislation, which can be subject to change and can vary from each province; it can never be guaranteed. Your client should talk to their lawyer to find out more about the potential for creditor protection for their specific situation.

⁶ As long as the policyowner has named a beneficiary who isn’t the estate. In Saskatchewan, executors need to share all known life insurance policies the deceased had, including segregated fund policies. This includes providing details such as the insurance company, policy number, designated beneficiaries and the value at the date of death.

⁷ Guaranteed values will be reduced proportionally by any withdrawals.

⁸Guarantee options vary by fund selection and values will be reduced proportionally by any withdrawals..

⁹ The youngest annuitant must be 68 years of age or younger at the time the application is complete.

¹⁰ The youngest annuitant must be 78 years of age or younger at the time the application is complete.

¹¹All costs are estimates provided for this example. We don’t guarantee their accuracy or completeness. Estate taxes vary across Canada and, in this example, they’re based on Ontario taxes. Legal and accounting fees vary based on the complexity of the estate settlement. Executor fees vary and may be waived.

¹²For illustrative purposes. Based on Standard series policy where the advisor fee is embedded into the MER. The fees associated with the segregated fund policy benefits can vary depending on the investment options and series chosen.

¹³For a full list of award-winning funds, see Canada Life wins at the annual Fundata FundGrade A+ awards (canadalife.com). Performance information applies to the overall Canada Life fund shelf and is not specific to those funds available to Primerica

¹⁴ Performance data as at Sept. 30, 2024 (Morningstar Direct). Industry peer shelves are internally created and to the best of our knowledge reflects the equivalent Canada Life 75/75 (P) series. Canada Life 75/75 (P) series achieved its 3-year number in July 2021. For a full list of 4- and 5-star funds, visit Positioned to win - Segregated Funds (canadalife.com).

Morningstar Star Ratings reflect performance of Series 75/75 (P) as of Sept. 30, 2024 and are subject to change monthly. The ratings are an objective, quantitative measure of a fund’s historical risk-adjusted performance relative to other funds in its category. Only funds with at least a three-year track record are considered. The overall star rating for a fund is a weighted combination calculated from a fund’s 3, 5, and 10-year returns, as available, measured against the 91-day treasury bill and peer group returns. A fund can only be rated if there are a sufficient number of funds in its peer group to allow comparison for at least three years. If a fund scores in the top 10% of its fund category, it gets 5 stars; if it falls in the next 22.5%, it receives 4 stars; a place in the middle 35% earns a fund 3 stars; those in the next 22.5% receive 2 stars; and the lowest 10% receive 1 star. For more details on the calculation of Morningstar Star Ratings, see www.morningstar.ca.

© 2024 Morningstar.  All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is 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.

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For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public

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Footnotes and disclaimers (2)

About Fundata Canada Inc.�Fundata Canada Inc. has been providing data aggregation and dissemination services to the Canadian media and financial marketplace since 1987. Fundata is a major provider in the distribution of fund and stock information in Canada.� �About the Fundata FundGrade A+ Rating�FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see http://www.fundgradeawards.com/. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata. FundGrade ratings are subject to change every month.

A description of the key features of the segregated fund policy is contained in the information folder. Any amount allocated to a segregated fund is invested at the risk of the policyowner and may increase or decrease in value. Canada Life segregated funds are available through a segregated funds policy issued by The Canada Life Assurance Company.

Canada Life and design and Canada Life Sustainable Portfolios are trademarks of The Canada Life Assurance Company (“Canada Life”). Other marks displayed in this piece are trademarks of a third party, and used with permission or under licence.

15 0%-5% for Standard Series and 0%-2% for Preferred Series 1

16 The commission rates are dealer gross.

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For wholesaler and advisor use only. No portion of this communication may be reproduced or distributed to the public

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Appendix

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*Graded death benefit guarantee for deposits into the 75/100 guarantee after age 80

Death Benefit Guarantee Reset Option Fee

0.11% for Fixed income, Balanced and Managed solutions

0.16% for Canadian or US equity funds

0.21% for Global equity funds