Canada Life Investment Management Ltd. announces proposed changes to certain mutual funds

Canada Life Investment Management Ltd. (CLIML) today announced a series of fund mergers and a change of investment objective effective on or about May 23, 2025, subject to unitholder approval, as applicable. The proposed changes are generally designed to enhance and streamline the fund lineups for advisors and their clients.

Proposed mergers

Terminating fund Continuing fund Event Vote RequiredCanada Life Canadian Core Plus Fixed Income Fund Canada Life Canadian Core Plus Bond Fund Tax-deferred NoCanada Life Global Multi-Sector Fixed Income Fund Canada Life Global Multi-Sector Bond Fund Taxable YesCanada Life Emerging Markets Equity Fund Canada Life Emerging Markets Large Cap Equity Fund Tax-deferred YesCounsel U.S. Value Counsel Global Dividend Tax-deferred YesCounsel International Value Counsel Global Dividend Tax-deferred YesCounsel Retirement Preservation Portfolio* Counsel Conservative Portfolio Tax-deferred YesCounsel Retirement Foundation Portfolio* Counsel Balanced Portfolio Tax-deferred YesCounsel Retirement Accumulation Portfolio* Counsel Growth Portfolio Tax-deferred Yes

*The Counsel Retirement Portfolio mergers were previously proposed by CLIML on Nov. 15, 2024and subsequently postponed on Dec. 13, 2024due to the uncertainty resulting from the Canada Post strike.

The Independent Review Committee of each of the terminating funds provided a positive recommendation or approval, as applicable, that each merger, if implemented, would achieve a fair and reasonable result for the funds.

Investment objective changeCLIML is also proposing to change the investment objective of Canada Life Global Low Volatility Fund, subject to unitholder approval. If approved, the fund will have a more diversified approach and focus on investing in equity securities of high-quality companies from around the world that offer above-average growth prospects. Along with this proposed change, the fund will be renamed Canada Life Global Equity Fund, Mackenzie Financial Corporation will replace Irish Life Investment Managers Ltd. as sub-advisor and the fund's risk rating will change from low-to-medium to medium.

With the exception of the merger involving Canada Life Canadian Core Plus Fixed Income Fund, a special meeting will be held on or about May 12, 2025, where unitholders will be asked to approve the mergers or investment objective change, as applicable.A notice-and-access letter and form of proxy will be mailed on or about March 28, 2025 to all investors of record as of March 19, 2025. Investors of record as of March 4, 2025 of Canada Life Canadian Core Plus Fixed Income Fund will be sent a written notice detailing changes related to the merger at least 60 days prior to the effective merger date.

About Canada Life Investment Management Ltd.Canada Life Investment Management Ltd. (CLIML) is an investment management firm offering wealth management products and services for individuals, families and business owners. The funds are sub-advised by leading asset managers, providing access to specialized investment expertise from around the world.CLIML is a subsidiary of The Canada Life Assurance Company.Learn more.

The funds are managed by Canada Life Investment Management Ltd. and the Canada Life Mutual Funds are offered exclusively through Quadrus Investment Services Ltd., IPC Investment Corporation and IPC Securities Corporation.Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

SOURCE Canada Life Investment Management Ltd. (CLIML)

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