1. Case study  RRIF account Name April XX, 2016

2. G5|20 Series Case Study RRIF account

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

4. Janet, 65, John, 67, married. Both recently retired. Need guaranteed, predictable and sustainable cash flow to:  help pay for basic living expenses  fulfill retirement lifestyle wishes. John and Janet are searching for an effective retirement plan

5. Annual cash flow requirements$60,000 Combined government benefits$28,400 Income gap (guaranteed cash flow shortfall)$31,600 Where John and Janet stand today Janet and John have each saved $500,000 in their RRSPs, which they will convert to RRIFs this year.

6. John and Janet need: Guaranteed predictable and sustainable cash flow. Cash flow to potentially increase. Capital appreciation potential. Reduced volatility of investment returns. To meet RRIF minimum annual payment requirements. To guarantee the same level of cash flow to the beneficiary in the event of death. To address sequence of return risk. The challenge: to secure guaranteed cash flow without sacrificing growth potential

7. JanetJohn G5|20i Fund$350,000 Conservative Balanced Mutual Fund$150,000 The strategy: guaranteeing cash flow requirements through mutual fund product allocation Allocation to G5|20i: guarantees a minimum annual cash flow of $17,500 from each RRIF account (exceeds annual cash flow shortfall by $3,400). Allocation to the conservative balanced mutual fund ensures:  liquidity for unforeseen expenses  ability to fund portion of RRIF MAP without having to redeem G5|20 Series units.

8. John and Janet’s combined government benefits $28,400 Guaranteed cash flow from John’s RRIF$17,500 Guaranteed cash flow from Janet’s RRIF$17,500 Total cash flow to meet living expenses$63,400 Annual cash flow requirement$60,000 Annual cash flow surplus$3,400 The result: cash flow during the first year The couple will have a guaranteed annual cash flow surplus of $3,400.

9. The result: a predictable, guaranteed cash flow with upside potential

10. Year 12: blended equity index is down 31%  that's what happened in 2008. John and Janet’s dilemma:  Live on less money than anticipated, or  Withdraw a greater percentage of their principal to maintain their 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 John and Janet afford not to be invested in G5|20 Series for their retirement?

11. G5|20i Fund Conservative Balanced Mutual Fund Total Initial investment: $1,000,000 (70% G5|20i Fund and 30% mutual fund) $700,000$300,000$1,000,000 Total cash flow received $752,342$268,613$1,020,955 Residual market value $389,758 (after receiving 20 years of guaranteed cash flow) $221,199$610,957 Summary: John and Janet’s combined assets after 20 years Using an historical return scenario with a significant market downturn in Year 12 as illustrated in the CI Guaranteed Retirement Cash Flow Series calculator at www.ci.com/G520.www.ci.com/G520

12. Product features cannot be changed. Fees cannot be increased. 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:

13. 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.