1. Case study  Non-Registered account Name April XX, 2016

2. G5|20 Series Case Study Non-Registered Account

3. G5|20 Series brings together CI’s leading portfolio managers 3

4. 58 years old. Accumulated significant non-registered assets. Relying on these assets to supplement her company pension and government benefits (CPP and OAS) during retirement. Susan is retiring in about five years – she’s concerned about making investment choices

5. Susan’s annual cash flow requirement$50,000 Less company pension benefits$23,300 Less government benefits$14,200 Income gap (guaranteed cash flow required from her savings) $12,500 Where Susan stands today: filling the income gap

6. Susan needs a solution that provides: Predictable, sustainable guaranteed cash flow. An investment strategy that focuses on capital appreciation. Potential increases in her guaranteed cash flow. Reduced volatility. Tax efficiency for her non-registered assets. Liquidity in case she needs to fund any emergency expenses. A way to address sequence of return risk. The challenge: to secure certainty of sustainable, predictable cash flows without sacrificing potential capital appreciation

7. Total investment – G5|20 Series$250,000 Minimum guaranteed annual cash flow$12,500 The strategy: keeping upside potential intact while guaranteeing cash flow streams With G5|20 Series, Susan is guaranteed to receive this cash flow regardless of market conditions.

8. The result: a predictable, guaranteed and tax-efficient outcome with growth potential

9. Year 5: blended equity index falls 31%  that's what happened in 2008. Susan’s dilemma:  Live on less money than anticipated, or  Withdraw more than 5% to maintain her lifestyle  withdrawing a greater percentage than anticipated results in faster depletion of assets. G5|20 Series mitigates this risk through downside protection, and guaranteed, stable and predictable cash flows. Can Susan afford not to be invested in G5|20 Series for her retirement?

10. Summary: Susan's assets after 25 years Total invested $250,000 Total guaranteed cash flow received (22% increase in guaranteed cash flow due to locking in of a portion of fund gains) $305,152 Residual market value after receiving 20 years of guaranteed cash flow: $337,867 in G5|20 Series fund $62,575 in a conservative income mutual fund $400,442 Using an historical return scenario with a significant market downturn in Year 5 as illustrated in the CI Guaranteed Retirement Cash Flow Series calculator at www.ci.com/G520. Conservative income mutual fund returns assume a 1.5% annual compound rate of return. The hypothetical rates of return in the illustration for Mutual Fund and G5|20 Fund are compounded annual returns net of applicable MER over the illustration period.www.ci.com/G520

11. Guaranteed cash flow from non-registered accounts that is classified as return of capital does not result in clawback of Old Age Security. Product features cannot be changed and fees cannot be increased without consent from the fund’s unitholders. Flexibility to lock in accrued market gains by switching to new G5|20 Series tranches. Potential to transfer all of G5|20 Series’ benefits, including the guaranteed cash flow, to a beneficiary. G5|20 Series also offers additional benefits:

12. Thank you Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Except as described below, mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Bank of Montreal guarantees that at least the original amount you paid for the fund unit will be paid back to you over a 20-year period in equal monthly instalments. This guarantee does not apply to units redeemed before the end of that period. You will receive the net asset value per unit for any unit redeemed early. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. BMO Financial Group and Bank of Montreal are marketing names (also referred to as trade names or brand names) used by Bank of Montreal. “BMO”, “BMO Financial Group”, “BMO (M-bar roundel symbol) Financial Group”, “Bank of Montreal” and “BMO Capital Markets” are trademarks owned by Bank of Montreal. ®CI Investments, the CI Investments design, G5|20 Series, CI Guaranteed Retirement Cash Flow Series, Cambridge, Harbour Advisors and Harbour Funds are registered trademarks of CI Investments Inc.™G5|20 Series design, Signature Funds and Signature Global Asset Management are trademarks of CI Investments Inc. Cambridge Global Asset Management is a business name of CI Investments Inc. used in connection with its subsidiary, CI Global Investments Inc. Certain portfolio managers of Cambridge Global Asset Management are registered with CI Investments Inc.