As at January 31, 2026

Meritage Diversified Fixed Income Portfolio

F Series

Category: Global Core Plus Fixed Income

Investment Objective

To achieve a current income by investing primarily in a diverse mix of fixed income mutual funds.

Fund Details

Investment horizon

At least 1 year

Fund volatility

Low

Minimum Initial Investment:

$500

Subsequent Investment:

$50

Systematic Investment:

$25

Distribution Frequency:

Monthly

Assets Under Management ($M):

$26.1

Price per Unit:

$8.73

Inception Date:

October 29, 2013

Value of $10,000 over 10 years:

$12,295

Management Fee:

0.60%

MER:

0.92%

Management Fee Reduction Plan¹

For High Net Worth investors
Amount Applicable

Level to the level* Reduction
1 First $250,000 0.050%
2 Next $250,000 0.100%
3 In excess of $500,000 0.150%

¹ Subject to satisfying one of the Plan admissibility criteria.

* The levels apply according to the market value of the
   assets.

Available Fund Code:

Trust Portfolios Fund Code
Advisor Series
Initial Sales Charge NBC7420
Deferred Sales Charge NBC7520
Low Sales Charge NBC7620
F Series NBC7720

Portfolio Statistics

Alpha

0.01

Beta

0.71

R-squared

0.58

Standard Deviation

4.76

Sharpe

0.01

Portfolio Asset Mix* (% of Net Assets)

Canadian Government Bonds 37.18
Canadian Corporate Bonds 34.04
Foreign Corporate Bonds 17.63
Foreign Government Bonds 5.00
Other 2.42
Cash and Equivalents 1.88
Mortgages 1.85
Third-Party funds %
CI Canadian Bond Fund 32.54
TD Canadian Core Plus Bond Fund 32.36
Manulife Strategic Income Fund 15.04
RP Strategic Income Plus Fund Class 15.03
NBI Sustainable Canadian Short Term Bd ETF (NSSB) 5.02

Geographic Allocation*

Canada 73.57%
United States 20.36%
Other 2.08%
Australia 0.83%
Multi-National 0.70%
United Kingdom 0.63%
France 0.55%
New Zealand 0.49%
Europe 0.46%
Indonesia 0.33%

Sector Allocation*

Fixed Income 96.16%
Cash and Cash Equivalent 1.88%
Other 0.93%
Mutual Fund 0.61%
Technology 0.24%
Utilities 0.11%
Financial Services 0.04%
Industrial Goods 0.03%

Calendar Returns (%)

YTD 2025 2024 2023 2022 2021 2020
Portfolio 0.62 3.15 4.39 6.25 -10.74 -1.49 7.46

Annualized Returns (%)

Fixed Income 1 M 3 M 6 M 1 Y 3 Y 5 Y 10 Y Incp. Incp. Date
CI Canadian Bond Fund 0.71 -0.12 3.01 2.83 4.64 0.94 2.68 4.43 11-01-2001
NBI Sustainable Canadian Short Term Bd ETF (NSSB) 0.54 0.44 2.39 4.12 5.65 - - 3.92 02-10-2022
RP Strategic Income Plus Fund Class 0.42 -1.03 1.32 2.52 4.18 2.10 - 3.40 04-14-2016
Other 1 M 3 M 6 M 1 Y 3 Y 5 Y 10 Y Incp. Incp. Date
Manulife Strategic Income Fund 0.40 0.23 2.72 5.24 5.06 1.99 3.51 6.19 11-28-2005
TD Canadian Core Plus Bond Fund 0.56 -0.44 2.35 1.32 3.02 -0.80 1.16 2.90 09-04-2007
Portfolio 1 M 3 M 6 M 1 Y 3 Y 5 Y 10 Y Incp. Incp. Date
Portfolio 0.62 -0.17 2.57 2.59 3.83 0.41 2.09 2.46

*Underlying fund data are as of October 31, 2025.

As at January 31, 2026

Meritage Diversified Fixed Income Portfolio

F Series

Category: Global Core Plus Fixed Income

Disclosure

Meritage Portfolios® (the "Portfolios") are managed by National Bank Investments Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Portfolios. Please read the prospectus of the Portfolios before investing. The Portfolios’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Portfolios are not guaranteed, their values change frequently and past performance may not be repeated. The indicated rates of returns are based on the historical annual compounded total returns including changes in securities value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. "Meritage Portfolios®" and the Meritage Portfolios logo are trade-marks of National Bank of Canada, used under license by National Bank Investments Inc. All trade-marks and logos of the mutual funds companies are their property. National Bank Investments Inc. is an authorized user. Fidelity Investments is a registered trade-mark of FMR LLC. ® CI Investments and the CI Investments design are trade-marks of CI Investments Inc. Dynamic Funds® is a registered trademark of its owner, used under license, and a division of GCIC Ltd. TD Asset Management Inc. is a wholly owned subsidiary of The Toronto-Dominion Bank. The TD logo is a trade-mark of The TorontoDominion Bank. Invesco and all associated trade-marks are trade-marks of Invesco Holding Company Limited, used under licence. Trimark and all associated trade-marks are trade-marks of Invesco Canada Ltd. © Invesco Canada Ltd., 2019. Manulife Funds, Manulife Corporate Classes and Manulife Leaders Portfolios are managed by Manulife Mutual Funds. Manulife, Manulife Mutual Funds and the Manulife Mutual Funds For Your Future Logo are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.