NEI PRIVATE PORTFOLIOS. A one-decision investment designed for investors seeking an advanced portfolio solution.

A one-decision investment designed

for investors seeking an advanced

portfolio solution.

NEI

PRIVATE

As your wealth grows, so too does the

significance and complexity of financial

decision making. To protect and grow

your wealth, you need customized advice

from a trusted financial advisor. And an

investment portfolio that satisfies your

unique needs.

The solution:

an exclusive multi-manager, multi-asset

portfolio from NEI Investments.

This is no

ordinary solution.

This is more.

NEI Private Portfolios

• A complete, fully diversified portfolio through a single investment

• Advanced portfolio construction and active asset allocation strategies to

safeguard assets or capitalize on opportunities

• Exclusive access to industry-leading investment managers from around

the world

• Environmental, social and governance (ESG) principles incorporated into

the investment process by all managers

• Responsible screens excluding companies with negative social impact

such as tobacco and weapons, applied across all Portfolios

• Competitive pricing

More opportunity for success:

Strategic design.

Every NEI Private Portfolio is optimized to hold a specific mix of fixed income, Canadian equity, and global equity holdings, all tailored to a given risk profile. When market movements cause the asset allocation to shift, positions are rebalanced to maintain the original allocation—providing the beneficial effect of selling high and buying low.

Sometimes more means less:

Minimizing portfolio risk.

Various markets and types of investments may perform differently from year to year. To manage these changes, NEI Private Portfolios are well diversified by asset class, geographic market, industry sector, market capitalization, and investment style. This allows investors to gain exposure to the best performing asset classes while minimizing overall risk and managing portfolio volatility.

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IN THE LONG RUN:

An advanced portfolio solution.

Managed by industry leaders, including some of the largest

investment management firms in North America (including Desjardins

Global Asset Management, Amundi Asset Management, Wellington

Management, Jarislowsky Fraser, AllianceBernstein, and Columbia

Threadneedle), NEI Private Portfolios are built to deliver the highest

level of potential returns within an investor’s tolerance for risk.

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IN THE LONG RUN:

An advanced portfolio solution.

Getting more out of market opportunities:

Welcome to MAAP.

Our Managed Asset Allocation Pool (MAAP) is an innovative, tactical investment strategy that provides added diversification through a mix of exchange-traded funds (ETFs) diversified across fixed income securities, equity securities, geographic markets, and market capitalizations.

MAAP allows the portfolio managers to take advantage of short-term opportunities in the market by shifting the pool’s asset allocation with minimum disruption to the core investment strategy.

The NEI Investments team assesses market conditions, then adjusts the asset allocation accordingly to safeguard assets or capitalize on opportunities. Since MAAP holds a diverse portfolio of liquid, low cost ETFs, it allows for both a responsive and cost-effective way to implement the strategy.

Our portfolio

OF PORTFOLIOS

NEI Income

Private Portfolio

NEI Income & Growth

Private Portfolio

Private Portfolio

NEI Balanced

Private Portfolio

NEI Growth

65% 20% 7% 3% 5% 51% 20% 19% 6% 4% 37% 20% 30% 10% 3% 10% 20% 53% 17%

Target asset allocation

Fixed income: 80%

Equity: 20%

Target asset allocation

Fixed income: 65%

Equity: 35%

Target asset allocation

Fixed income: 50%

Equity: 50%

Target asset allocation

Fixed income: 20%

Equity: 80%

Designed for investors who seek capital preservation with some long-term growth. Holds primarily fixed income securities with some

global and Canadian equity investments.

Designed for investors who seek capital preservation with moderate long-term growth.

Holds mostly fixed income securities with some global and

Canadian equity investments.

Designed for investors who seek a balance of long-term growth and capital preservation. Holds

a mix of fixed income and global and Canadian equity

investments.

Designed for investors who seek long-term growth. Holds primarily global and Canadian equities with some fixed income

investments. Annual distribution:

4% paid monthly Annual distribution: 4% paid monthly Annual distribution: 5% paid monthly Annual distribution: 6% paid monthly

Risk: Low Risk: Low Risk: Low to medium Risk: Low to medium

NEI Fixed Income Pool1 _{— Desjardins Global Asset Management and Amundi Asset Management}

NEI Global Impact Bond Pool2 _{— Wellington Management}

NEI Canadian Equity Pool — Jarislowsky Fraser

NEI Global Equity Pool3 _{— AllianceBernstein and Columbia Threadneedle Investments}

NEI Income

Private Portfolio

NEI Income & Growth

Private Portfolio

Private Portfolio

NEI Balanced

Private Portfolio

NEI Growth

65% 20% 7% 3% 5% 51% 20% 19% 6% 4% 37% 20% 30% 10% 3% 10% 20% 53% 17%

Target asset allocation

Fixed income: 80%

Equity: 20%

Target asset allocation

Fixed income: 65%

Equity: 35%

Target asset allocation

Fixed income: 50%

Equity: 50%

Target asset allocation

Fixed income: 20%

Equity: 80%

Designed for investors who seek capital preservation with some long-term growth. Holds primarily fixed income securities with some

global and Canadian equity investments.

Designed for investors who seek capital preservation with moderate long-term growth.

Holds mostly fixed income securities with some global and

Canadian equity investments.

Designed for investors who seek a balance of long-term growth and capital preservation. Holds

a mix of fixed income and global and Canadian equity

investments.

Designed for investors who seek long-term growth. Holds primarily global and Canadian equities with some fixed income

investments. Annual distribution:

4% paid monthly Annual distribution: 4% paid monthly Annual distribution: 5% paid monthly Annual distribution: 6% paid monthly

Risk: Low Risk: Low Risk: Low to medium Risk: Low to medium

1_{NEI Fixed Income Pool has a 9% allocation to the NEI Global Total Return Fund} 2_{NEI Global Impact Bond Pool invests in I units of NEI Global Impact Bond Fund} 3_{NEI Global Equity Pool has a 9% allocation to the NEI Emerging markets Fund}

All managers are industry leaders, available

primarily to institutional investors, which makes

access to them through NEI Private Portfolios

an exclusive investment opportunity.

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RIGOROUS

SELECTION MEANS

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HIGHLY QUALIFIED

INVESTMENT MANAGERS.

NEI follows a rigorous process of

in-depth research and evaluation of

independent investment managers

from Canada and around the world.

NEI BRINGS THE EXPERTISE OF LEADING INDEPENDENT INVESTMENT

MANAGERS FROM AROUND THE WORLD. MANAGERS ARE CHOSEN FOR

THEIR RESPECTIVE ASSET CLASS SPECIALTY, ACTIVE INVESTMENT

MANAGEMENT AND PROVEN PERFORMANCE.”

Fixed income

NEI Fixed Income Pool

Desjardins Global Asset Management is a group of investment experts recognized for its value-added approach and innovation. Desjardins Global Asset Management earns competitive returns while ensuring the optimal balance between risk and return. The company manages more than $55 billion in assets, chiefly from the equity of insurance subsidiaries as well as management mandates from other Desjardins Group components. Desjardins Global Asset Management manages asset portfolios for clients in various sectors, such as life, health and general insurance companies; pension funds; charitable foundations; and trust companies.

Amundi Asset Management is a Paris-based institutional asset manager, with six management teams operating in major financial centers in the U.S., Europe and Asia. Amundi manages over $2.2 trillion and is ranked as the largest asset managers in Europe. Amundi Asset Management invests in all asset classes and major currencies with extensive investment expertise in global fixed income and active equity management. They are also recognized as a leading asset manager with respect to integrating environmental, social and governance (ESG) factors into their investment decision making process.

Global impact bonds

NEI Global Impact Bond Pool*

Tracing their history to 1928, Wellington Management is one of the world’s largest

independent investment management firms. With more than $1 trillion in client assets under management, they serve as a trusted adviser to clients in more than 60 countries. In addition to integrating ESG factors into their research and portfolio management processes, Wellington also manages a variety of impact investing strategies that have explicit sustainability objectives that align with UN Sustainable Development Goals and produce Key Performance Indicator (KPI) reporting.

Canadian equity

NEI Canadian Equity Pool

Jarislowsky Fraser Limited is one of Canada’s leading investment management firms. Founded in 1955 as a research boutique, Jarislowsky Fraser today manages the portfolios of pension funds, foundations and endowments, corporations and individuals in Canada and internationally — representing nearly $40 billion in assets under management. Its investment philosophy is built on a foundation of time-tested conservative principles and more than 60 years of fundamental research. Jarislowsky Fraser’s history and culture are rooted in investment stewardship, expressed through an adherence to high quality investing, a long-term investment horizon and the advancement of good governance and sustainable investing.

Global equity

NEI Global Equity Pool

AllianceBernstein is a leading global investment management and research firm with more than $700 billion of assets under management. With 47 locations in 21 countries, AllianceBernstein has a comprehensive range of research, portfolio management, wealth management and client service teams around the world. With expertise that spans all markets and asset classes, AllianceBernstein teams strive to provide global perspective and investment clarity, and to deliver better outcomes for investors.

Columbia Threadneedle Investments is a leading global asset manager that provides a broad range of investment strategies and solutions for individual, institutional and corporate clients around the world. With more than 450 investment professionals based in North America, Europe and Asia, Columbia manage $469 billion of assets across developed and emerging market equities, fixed income, asset allocation solutions and alternatives. Columbia believes that Responsible Investment (RI) principles are an important factor. They have developed proprietary tools that provide a robust RI framework and better analysis for portfolio managers to enhance their decision-making.

Tactical asset allocation

NEI Managed Asset Allocation Pool

NEI Investments manages approximately $8 billion in assets and is Canada’s leading provider of Responsible Investing (RI) solutions. Overseen by NEI’s highly experienced Investment Management, Asset Allocation and Environmental, Social and Governance (ESG) teams, NEI offers unique investment solutions advised by best-in-class, independent portfolio managers from around the world. NEI is a wholly owned subsidiary of Aviso Wealth, a national, integrated financial services company with more than $70 billion of assets under management and administration.

Signatory to:

Companies with negative social impact

such as tobacco and weapons are

excluded from all Portfolios. All external

investment managers incorporate

environmental, social and governance

(ESG) considerations into their investment

decisions and are signatories to the

United Nations-supported Principles for

Responsible Investment (PRI).

DOING

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FOR THE WORLD:

Integrating responsible investing.

As a leader in responsible investing, this is a key

consideration for NEI. What’s more, portfolios benefit from

NEI’s comprehensive ESG program, including corporate

engagement and proxy voting.

TO THE COUNTRY’S MOST COMPREHENSIVE ENVIRONMENTAL,

SOCIAL AND GOVERNANCE (ESG) PROGRAM.”

—Fred Pinto, Senior Vice President, Head of Asset Management, NEI Investments

A proactive, disciplined

investment process

Our proprietary active asset

allocation strategy optimizes long-term

investment horizons and takes advantage

of shorter-term market opportunities

while considering ESG factors.

1

Sourcing the best portfolio

managers from around the world

Our multi-manager structure, combined

with expertise in manager selection and

monitoring, delivers exceptional expertise,

unique mandates, and powerful alliances

managing $7 trillion globally.

2

The NEI Advantage

Helping you achieve your investment goals

WHILE MAKING A

Sourcing the best portfolio

managers from around the world

Our multi-manager structure, combined

with expertise in manager selection and

monitoring, delivers exceptional expertise,

unique mandates, and powerful alliances

managing $7 trillion globally.

30+ years of experience and leadership

in responsible investing

As Canada’s most committed and forward-thinking

ESG team, our corporate engagement approach

has been rated A+ every year by the Principles

for Responsible Investment (PRI).

NEI is a subsidiary of Aviso Wealth, a

national, integrated financial services

company serving the wealth management

needs of virtually all of Canada’s credit

unions as well as a range of independent

financial organizations.

THE

STRENGTH

OF ONE OF CANADA’S

LARGEST INDEPENDENT

WEALTH MANAGEMENT

FIRMS.

With over 30 years of wealth management experience, Aviso Wealth

has $70 billion of assets under management and administration.

Aviso was formed in April 2018, uniting the talents and resources of

three successful, industry-leading firms to provide Canadians with

a comprehensive range of integrated wealth management services

and solutions.

FORMED THROUGH THE MERGER OF THREE SUCCESSFUL,

INDUSTRY-LEADING FIRMS, AVISO DRAWS ON DECADES OF EXPERIENCE

AND NOTABLE STRENGTHS IN ALL AREAS OF WEALTH MANAGEMENT.”

wealth management strategy.

Financial advice is a key component of your investment success. A financial

advisor helps you define your goals, advises you of the investments best suited to

your personal situation and guides you through all types of market conditions.

»

To learn more about NEI Private Portfolios,

please speak to your financial advisor.

NEI Income Private Portfolio

NEI Income & Growth Private Portfolio NEI Balanced Private Portfolio NEI Growth Private Portfolio Series W Fund Code NWT2000 NWT2001 NWT2002 NWT2003

Management Fee % 1.20 1.50 1.55 1.60

Administration Fee % 0.15 0.15 0.15 0.20

Projected MER %

(pre-tax) 1.35 1.65 1.70 1.80

Series WF Fund Code NWT2900 NWT2901 NWT2902 NWT2903

Management Fee % 0.45 0.50 0.55 0.60

Administration Fee % 0.15 0.15 0.15 0.20

Projected MER %

(pre-tax) 0.60 0.65 0.70 0.80

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.

NEI Investments is a registered trademark of Northwest & Ethical Investments L.P. (“NEI LP”). Northwest & Ethical Investments Inc. is the general partner of NEI LP and a wholly-owned subsidiary of Aviso Wealth Inc. (“Aviso”). Aviso is the sole limited partner of the Manager. Aviso is a wholly-owned subsidiary of Aviso Wealth LP (“Aviso Wealth LP”), which in turn is owned 50% by Desjardins Financial Holding Inc. (“Desjardins”) and 50% by a limited partnership owned by the five Provincial Credit Union Centrals (the “Centrals”) and the CUMIS Group Limited.