As at January 31, 2026

NBI Jarislowsky Fraser Select Balanced Fund

E Series

Category: Canadian Equity Balanced

Investment Objective

To achieve moderate capital growth by investing in a diversified portfolio comprised mainly of Canadian fixed income and equity securities. The fund may invest approximately 25% of its assets in equity or fixed-income securities of foreign issuers.

Fund Details

Investment horizon

At least 3 years

Fund volatility

Low to Medium

Style: Blend, Sector Deviation: Moderate, Market cap: Large

Minimum Initial Investment:

$10,000

Subsequent Investment:

$1,000

Systematic Investment:

-

Distribution Frequency:

Quarterly

Assets Under Management ($M):

$144.1

Price per Unit:

$21.54

Inception Date:

October 7, 2010

Value of $10,000 over 10 years:

$20,358

Benchmark Index:

Morningstar Canada Liquid Bond (40%)

Morningstar Canada Large-Mid  (35%)

Morningstar Developed Markets Large-Mid Cap (25%)

Management Fee:

0.70%

MER:

0.91%

Portfolio Manager:

National Bank Investments Inc.

Sub-Advisor:

Jarislowsky, Fraser Limited

Available Fund Codes:

E Series NBC3901

Portfolio Asset Mix (% of Net Assets)

Canadian Equity 34.62%
Domestic Bonds 33.51%
US Equity 22.15%
International Equity 6.69%
Cash and Equivalents 2.86%
Foreign Bonds 0.17%
Sector Allocation %
Financial Services 26.61
Technology 22.36
Consumer Goods & Services 15.24
Industrial Goods & Services 11.57
Healthcare 9.82
Real Estate 5.42
Energy 5.40
Basic Materials 3.58
Dividend Yield (Trailing Yield) 1.33
Top Holdings %
Interactive Brokers Group Inc Cl 4.27
Alphabet Inc Cl 4.13
ASML Holding NV - ADR 2.78
Amazon.com Inc 2.41
Toronto-Dominion Bank 2.29
Brookfield Corp Cl 2.23
Mastercard Inc Cl 2.14
Boston Scientific Corp 1.91
Canadian National Railway Co 1.88
Microsoft Corp 1.81
Total of Top Holdings of the Fund
(% of Net Assets):		 25.85
Total Number of Securities Held: 217

Calendar Returns (%)

YTD 2025 2024 2023 2022 2021 2020
-0.60 8.07 16.86 16.13 -12.90 13.62 8.85

Annualized Returns (%)

1 M 3 M 6 M 1 Y 3 Y 5 Y 10 Y Incp.
-0.60 -1.52 4.18 3.44 11.46 7.85 7.37 7.39

As at January 31, 2026

NBI Jarislowsky Fraser Select Balanced Fund

E Series

Category: Canadian Equity Balanced

Disclosure

NBI Mutual Funds (the “Funds”) are offered by National Bank Investments Inc. an indirect wholly owned subsidiary of National Bank of Canada and sold by authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds. Please read the prospectus of the Funds before investing. The indicated rates of return are the historical annual compounded total returns which include changes in the value of securities and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. The Funds’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. For money market funds, there can be no assurances that a fund will be able to maintain its net asset value per security at a constant amount or that the full amount of the investment in a fund will be returned. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.