University of Regina Charleen Turner | May 13, 2015 RETIREMENT PROGRAM UPDATE

Sponsor the program Plan design Making contributions Selecting Investment Managers Selecting funds Selecting the record keeper Monitoring the plan Member education Ongoing information & communication University of Regina Record keeping Preparing statements Developing saving and investment tools Provide member information sessions Rebalance asset mix of Life Cycle funds Member inquiries Sun Life Financial Investment Managers Funds Performing research Creating the fund Selecting the stocks or bonds Buying and selling You/member Your Account Making contributions Understanding investments Choosing investments Monitoring savings and investments Filing personal information updates Paying fund management fees Paying administration fee RESPONSIBILITIES 2

Compulsory for eligible new hires Eligibility 7.5% up to the maximum pensionable earnings limit (for 2015 is $140,944.50) 2015 maximum contribution per month $ Employee Contributions 7.5% up to the maximum pensionable earnings limit (for 2015 is $140,944.50) 2015 maximum contribution per month $ Employer Contributions Lumps sums and transfers in permitted Transferring in DEFINED CONTRIBUTION PENSION PLAN 3

HOW DO YOUR FEES COMPARE? Money Market Fixed Income Canadian Equity 0.81% 1.38% 2.25% Average Retail Fees* Highest fees in your plan** 0.25% 0.56% 0.58% US Equity 2.22% 0.25% Global Equity 2.58% 0.91% International Equity 2.43% 1.07% * As at January 31, 2014, Source: BMO fund facts, TD Asset Management, Scotiabank, RBC, CIBC Investorpos **Fund Management Fees as at March 31, Target Date 2.16% 0.60%

5 Fund asset mix Total plan assets (1) Canadian Equity includes company stock (2) Target date includes balanced funds and asset allocation funds Asset Category/Fund Balances as at Dec 31, 2013% of assetsBalances as at Dec 31, 2014% of assets SLF Overall as at Dec 31, 2014 Canadian Equity $5,371, % $6,451, % 30.3% (1) BLK ACTIVE CANADIAN EQ $1,885, % $2,287, % CC&L GRP CDN EQUITY FND $3,485, % $4,163, % Fixed Income $5,454, % $5,905, % 9.7% PH&N BOND FUND $5,454, % $5,905, % Foreign Equity $7,204, % $7,884, % 12.8% BLK US EQUITY INDEX REG $3,689, % $4,824, % MFS GLOBAL EQUITY $1,988, % $1,643, % TMPL INTL STOCK TRUST $1,526, % $1,416, % Guaranteed/Money Market $2,186, % $2,600, % 10.1% SLA 1YR GUARANTEED FUND $476, % $513, % SLA 3YR GUARANTEED FUND $338, % $217, % SLA 5YR GUARANTEED FUND $432, % $518, % SLF MONEY MARKET $939, % $1,350, % Target Date $74,965, % $90,625, % 37.1% (2) BLK LP INDEX 2015 FUND $9,038, % $ % BLK LP INDEX 2020 FUND $12,401, % $15,369, % BLK LP INDEX 2025 FUND $13,586, % $16,995, % BLK LP INDEX 2030 FUND $13,410, % $17,676, % BLK LP INDEX 2035 FUND $11,257, % $14,063, % BLK LP INDEX 2040 FUND $6,442, % $8,363, % BLK LP INDEX 2045 FUND $3,551, % $5,054, % BLK LP INDEX 2050 FUND $242, % $611, % BLK LP INDEX RETIREMENT $5,033, % $12,491, % Grand Total $95,183, % $113,466, % Data as at December 31, 2014 Please note that the BLK LP INDEX 2015 FUND has matured and it’s assets were swept into the BLK LP INDEX RETIREMENT FUND on December 11, 2014.

6 Number of funds used by members Balances (1,087 members in the DCPP only) Data as at December 31, 2014

7 100% of members in one fund Balances (905 members in 1 fund only, DCPP only) Data as at December 31, 2014

8 Number of funds used by members Investment Instructions (DCPP only) Data as at December 31, 2014

9 100% of members in one fund Investment Instructions (998 members in one fund only, DCPP only) Data as at December 31, 2014

10 Member average equity holdings by age Range of Typical Target Equity roll down Age vs. percent in equities DCPP ONLY (1,087 members) Data as at December 31, 2014

Built for you – Target Date Funds/Balanced Fund Built by you – Select funds from different asset classes to meet your risk profile Highlights – DC Component Two Investment Approaches 11

12 Understanding Risk vs Return Reward Risk LowHigh Low High Bond (Fixed Income) Funds Money Market Funds Guaranteed Funds Canadian, US, Global & International Equities Target Date Funds Balanced

Built for you BlackRock LifePath ® Index Funds (Passive Strategy) investments reflect the applicable index 5 year age bands (ie 2020, 2025, etc) Default fund: if you don’t elect, both your contributions and your employer contributions go into the Fund closest to when you turn 65 (but not over 65) Highlights – DC Component Two Investment Approaches 13

14 BUILT FOR ME *Fund Management Fees as at March 31, 2015 include but are not limited to fund management fees, administration fees and operating expenses. University of Regina Levy $60 per year plus.06% included in the fee quoted above

SUN LIFE BLACKROCK LIFEPATH INDEX FUNDS Allocations are for illustrative purposes only Year indicates target year for retirement Time horizon Short Long Risk % Return % The invention that changed the DC landscape LifePath Key Features: Investment objective is stable consumption through retirement. Strategic glidepath: no tactical bets. Static allocations at and through retirement with an equity landing point of 40%. How does it work? Glidepath of diversified portfolios that systematically reduces risk as participants move closer to retirement Early career portfolio allocation that provides growth through diversified equity exposure Retirement portfolio allocation that optimizes the probability of 30 years of successful retirement over a range of drawdowns and return assumptions Source: BlackRock 15

Source: BlackRock TARGET DATE FUNDS = LIFEPATH ® FUNDS 16

HOW TO CHOOSE YOUR TARGET DATE FUNDS LifePath 2020 LifePath 2025 LifePath 2030 LifePath 2035 LifePath 2040 LifePath 2050 LifePath 2045 Years until retirement Your retirement year 2045 : 17

18 DIVERSIFY Growth of $10,000 – December 2004 – December 2014 $11,877 $12,107 $16,798 $20,793

19 BUILT BY ME Fund Management fees as at March 31, 2015, include but are not limited to fund management fees, administration fees and operating expenses. University of Regina Levy $60 per year plus 0.06% included in the fee above.

SUN LIFE RESOURCES Call – For access to your account Account balances Rates of return Market information Transfer between funds Change investment instructions – For help understanding your plan Enrolment assistance Help available in 150 languages Automated Telephone System Mon-Fri. 5 a.m. – 5 p.m. PT Customer Care Centre 20

Tools mysunlife.ca InformationTransactions Asset allocation tool Retirement planner Financial and retirement planning tools Account balances On-line statements Personal rates of return Investment reports from Morningstar Transfer between funds Change investment instructions 21

Customer Care Centre – – ID and password – Or personal information Mysunlife.ca – ID and password – Change by $ or % MAKING CHANGES 22

WEB DEMO: mySunlife.ca 23

Changes to your payments (PRIF) Sun Life Customer Solutions Centre MAKING CHANGES 24

Resources available: Sun Life Financial: Bulletins, on-line newsletters, etc. On-line tools such as: Investment Risk Profiler and Retirement Calculator Customer Care Centre Financial Services Consultant (In Plan Advice) Consult a Financial Advisor: Sun Life Financial – Jennie Aldworth & Joe Moffat Certified Financial Planners website FINANCIAL PLANNING 25

26 University of Regina members approaching retirement have complimentary access to licensed Retirement Consultants by phone, who can provide: In addition, referrals to Sun Life Advisors are also available for members seeking holistic retirement planning support. Needs analysis Income needs, pros/cons and suitability of various income vehicles, including the University of Regina Group Retirement Fund Risk tolerance and pre- and post-retirement investing strategies Need for protection products Other circumstances, e.g., non-resident status, outside assets, DB pension, etc. Education & guidance Unlocking rules Minimum and maximum payments Basic tax considerations Illustrations showing the depletion of savings under various scenarios General information on government benefits, including CPP and OAS Setting up an income stream Determine the appropriate income solution and investments as applicable Assist with asset consolidation, inquiries on other products such as travel insurance Setting your retirement plan into action and starting income payments SPECIALIZED RETIREMENT SUPPORT

Your DC Benefit Options on Termination of service (if less than age 55) Sun Life Choices (i.e. Locked-In Retirement Account) Other Employer Pension Plan (if permitted) Other Personal Retirement Plan RSP / Cash (if considered a small benefit, less than $10,720) $75 fee for transfers outside of Sun Life Financial YOUR PENSION BENEFIT 27

Your DC Benefit Options at Retirement (if age 55 and over) Same as for Options on Termination Sun Life Financial Options: Group Retirement Income Plan (PRIF/RIF) sponsored by University of Regina or SLF Group CHOICES PRIF/RIF Annuity Outside of Sun Life Financial Other Prescribed Income Plan Annuity Note: transfer out fee ($75) if leaving Sun Life Financial YOUR PENSION BENEFIT 28

THANK YOU