The Changing Landscape of Asset Management DEREK J. GREEN President, CI Investments January 2014 Canada’s Investment Company

CI Financial: record success CIX +4,486% Financial Services +1,365% TSX +410% 21% CAGR December 2013 June 1994 Total return to December 31, % CAGR

Industry highlights * Annualized returns Sales and Assets  Total industry assets of $986.4B, up 17.8% year over year.  Shift to managed money continues; Mutual Fund of Funds account for 26.6% of AUM, and 81.3% of 2013 YTD net sales.  YTD total industry flow of $39B; equity fund net inflow of $5.4B. Source: IFIC, as at November 30, 2013

Sales & assets by product: YTD * Managed Solutions is Portfolio Series, Portfolio Select Series, Private Client, Evolution, Optima Strategy and G5/20. January 1 – December 31, 2013  Managed solutions continue to deliver strong results, consistent with overall industry trends.  Traditional funds continue to see significant flows, along with solid growth in PIM offering.

Maintaining market share is winning

Source: Investor Economics, CI Independents are getting squeezed out

Maintaining is winning Source: Company websites, IFIC, Morningstar CI’s AUM versus other independents Change in AUM over 5 years ending September 30, 2013

“It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.” - Charles Darwin

A new client relationship model: NI-103 Preparation Runway RequirementsImplementation Date Now Regular quarterly account statements or monthly if requested 60 days notice of new or increased operating charges RDI must contain a complete description of operating and transaction charges July 15 th, Pre-trade disclosure of all charges Enhanced content of trade confirmations Additional Benchmark Information July 15 th, More thorough account statements Position cost information July 15 th, DSC information on trade confirmation Report summary on charges and other compensation Performance Reporting: money-weighted basis July 15 th, 2016

How to prepare right now Demonstrate your valueInform your clients Re-visit your Value Proposition Ensure you are providing a full Wealth Advisory service to your top clients Conduct the Value Test on your existing clients Prepare a Value Map for each of your clients Prepare for a conversation about the changes ahead Make clients aware of changes sooner rather than later (face to face, telephone or letter) Prioritize your top clients, customize an approach tailored to their communication style N / CRM 2 – How to prepare

N / CRM 2 – What is CI doing? CI’s Professional Development team is educating advisors about the challenges they face –See upcoming N / Client Relationship Model Presentation –N Article in May issue of CI Monthly Review –Participating Spring Roadshow –Webinars During the next 6 to 8 months the CI Sales and Marketing Team will be delivering content to help advisors with this transition Remember…this is a tremendous opportunity for strong advisors that deliver value to their clients

CI Investments Experience – Managing money since Size and scale – Resources to invest in top-quality investment management, service and innovative products. Financial strength – Parent company CI Financial Corp. (TSX:CIX) is the third-largest investment fund company in Canada. Reputation – Well-known brand: “ Canada’s Investment Company”.

The industry’s widest selection of investment funds on a variety of platforms Managed Solutions Tax-effective Solutions Guaranteed Solutions Introducing…

CI’s Corporate Class: An excellent tax-efficient solution CI Corporate Class: Oldest and largest structure in the industry Over $30 billion in AUM Over 50 funds offered Available in T-Class for monthly, tax-efficient cash flow A strong and diverse lineup of award-winning management teams

Top portfolio management teams lead to best-in-class solutions

Strong fund performance  Consistent outperformance on a risk-adjusted basis relative to index and industry peers Returns (%)Globefund quartiles YTD1y3y5y10y3y5y10y CANADIAN EQUITY Cambridge Canadian Equity Corporate Class *11- Signature Select Canadian Fund CI Canadian Investment Fund Signature Dividend Fund CANADIAN BALANCED Cambridge Canadian Asset Allocation Corp Cl *11- Signature Income & Growth Fund Signature Canadian Balanced Fund DIVERSIFIED INCOME Signature High Income Fund Cambridge High Income Fund *11- CI Portfolio Series Income Fund GLOBAL EQUITY Cambridge Global Equity Corporate Class *21- Black Creek Global Leaders Fund *11- Black Creek International Equity Fund *11- GLOBAL BALANCED Signature Global Income & Growth Fund *11- Black Creek Global Balanced Fund *11- CI Portfolio Series Balanced Growth Fund SPECIALTY CI Global Health Sciences Corp Class Globefund, as at November 30, 2013 *since inception return was used when 10-year was unavailable

CI’s marketing strategy and new initiatives Brand Marketing Continue to increase brand awareness for CI Investments and G520 RSP Media Plan targeting 30 million viewers through CBC, TSN, RDS, BNN, Global and CTV Networks. Golf Media Plan targeting 66 million viewers through the four majors, Ryder Cup and 20 PGA tournaments throughout the year on TSN, RDS, Global and regional stations. Event Marketing Digital Roadshow featuring 12 webcasts over three days CI Leadership Forum in Las Vegas on October 7-10 National Spring Roadshow featuring Signature Professional Development focused events Product Highlights G520 enhancements: added F, O and LL class, exploring immediate payout option and annual resets Launching 3 new mandates with Marret Asset Management –Global High Yield, Short Duration, Strategic Yield New Cambridge U.S. Dividend and Canadian Dividend Private Client 2014 enhancements

Thank you All charts and illustrations in this guide are for illustrative purposes only. They are not intended to predict or project investment results. ® CI Investments, the CI Investments design and Harbour Advisors are registered trademarks of CI Investments Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise indicated and except for returns for periods less than one year, the indicated rates of return are the historical annual compounded total returns including changes in security value. All performance data assume reinvestment of all distributions or dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.