NBI Equity Income Private Portfolio

Investment Objective

To maximize the potential for long-term capital growth and to generate high dividend income. This fund invests directly, or through investments in securities of other mutual funds, in a portfolio primarily composed of equity securities of Canadian companies that pay dividends. It is expected that investments in foreign securities will not exceed approximately 30% of the fund’s assets.

Fund Details

Investment horizon

At least 5 year

Fund volatility

Medium

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

Style	Sector Deviation	Market Capitalization
Value	Minimal	Small
Blend	Moderate	Mid
Growth	Wide	Large

Minimum Initial Investment:

$500

Subsequent Investment:

$50

Systematic Investment:

$25

Distribution Frequency:

Monthly

Assets Under Management ($M):

$121.8

Price per Unit:

$16.40

Inception Date:

May 21, 2015

Value of $10,000 over 10 years:

$27,021

Benchmark Index:

S&P/TSX Composite

Management Fee:

0.45%

MER:

0.69%

Portfolio Manager:

National Bank Investments Inc.

Sub-Advisor:

Montrusco Bolton Investments Inc.

Available Fund Codes:

Advisor Series
Initial Sales Charge	NBC4241
F Series	NBC4041
F5 Series	NBC4141
O Series	NBC9041
T5 Series
Initial Sales Charge	NBC4341

Portfolio Asset Mix (% of Net Assets)

	Canadian Equity	92.82%
	US Equity	4.69%
	Income Trust Units	1.91%
	Cash and Equivalents	0.58%

Sector Allocation	%
Financial Services	33.37
Basic Materials	18.13
Energy	13.40
Technology	9.78
Industrial Goods & Services	7.91
Real Estate	5.55
Consumer Goods & Services	4.71
Telecommunications	3.90
Utilities	3.25

Dividend Yield (Trailing Yield)

2.26

Top Holdings	%
Royal Bank of Canada	9.11
Toronto-Dominion Bank	6.59
Agnico Eagle Mines Ltd	5.98
Bank of Montreal	5.04
Wheaton Precious Metals Corp	4.69
Suncor Energy Inc	4.34
Alamos Gold Inc Cl	3.92
Quebecor Inc Cl B	3.88
Brookfield Asset Management Ltd Cl	3.85
Microsoft Corp	3.63
Total of Top Holdings of the Fund (% of Net Assets):	51.03
Total Number of Securities Held:	35

Calendar Returns (%)

YTD	2025	2024	2023	2022	2021	2020
20.09	20.09	17.43	9.18	-8.33	26.77	-1.92

Annualized Returns (%)

1 M	3 M	6 M	1 Y	3 Y	5 Y	10 Y	Incp.
1.36	2.18	9.54	20.09	15.47	12.34	10.45	8.76

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.