Derek J. Green President December 2014

Industry Highlights * Annualized returns Sales and Assets  Total Industry assets of $1,116B, up 18.7% year over year.  YTD Industry net flow of $49.6B, up 49% from  Rolling 12 month industry net flows of $58.2B strongest on record. CI net flows of $4.1B during same time period represent 7% share.  Equity funds for the industry in YTD net positive flows of $4.82B, up $1.87B from last year. Source: IFIC, as at September 30, 2014

Sales Results: Year over year  Continue to see year over year sales growth, with gross flows up $611M / 6% and net sales up $438M / 15% over same period last year. YTD Year over Year to September 30 Purchases RedemptionsNet

Sales & Assets by Product: YTD * Managed Solutions is Portfolio Series, Portfolio Select Series, Private Client, Evolution, Optima Strategy and G5/20 Series. January 1 – September 30, 2014 YTD:  Managed solutions and PIM net flows (87.9%) continue to far outweigh their share of AUM (25.9%). YOY managed solutions and PIM have grown their share of net flows by 23% and 52%, respectively.  In contrast, traditional funds share of gross and net flows YOY has declined 11% and 41.6%, respectively.  Our flows to managed solutions and traditional funds are very consistent with the overall industry. Managed solutions represent 72% of YTD industry net flows, traditional funds 28%.

Sales & Assets by Channel: YTD January 1 – September 30, 2014 * Other is Discount, House and Default YTD:  Sun Life, Assante and the Planners / Credit Unions all with significant YOY growth in net sales – 40%, 29%, 15% respectively.  IIROC net still positive, however gross flows have slowed throughout the year resulting in a $74M or 50% drop in net from same period 2013.

Sales & Assets by Asset Class: YTD January 1 – September 30, 2014 * Other is Alternative, Index, non sub-advised CIIAM Segregated assets, PC Segregated assets and Structured products YTD:  Fund of funds, global and global balanced continue their trend of increased share of gross and net flows over same period last year.  Fund of funds from 18% gross / 38% net to 24.5% gross / 51.5% net  Global Balanced from 3.4% gross / 9.7% net to 8.2% gross / 21.4% net  Global from 6.1% gross / 1.0% net to 7.5% gross / 9.6% net  Income has grown share however still significantly lower than 73% share of net flows to end of Q3 last year.

Creating Advisor Partnership Enhancing our partnership with advisors continues to be an important focus for supporting continued growth in existing distribution channels. 1.Provide business solutions in addition to product solutions  Address changing landscape due to regulatory reform  Help advisors enhance the value of their business  Strategic Business Development, Advisor Toolkits, coaching and wholesaler support 2.Enhance coverage  Bigger emphasis on AUM to retain, and grow, assets  Segmentation of territories to support coverage model  Additional resources, training program and career path to retain the best and brightest

Creating Advisor Partnership (cont’d) 3.Enhance product solutions  PIM householding at $250k to meet needs of mass affluent  Private Client enhancements to support Assante Wealth Management HNW 4.Improve the ease of doing business  Creating a better understanding of the advisor’s business by providing a 360 o view across the organization  Simplify advisor interactions and make it seamless across the organization 5.Build our brand  Continue to focus on retirement market through golf properties with an advisor friendly message 6.Deliver premiere events  Las Vegas Leadership Forum for 1,400 advisors representing $14.4B in AUM, $1.9B in gross and $1.1B in net sales YTD  23 city Fall Roadshow featuring Cambridge Global Asset Management and Black Creek Investment Management