Mutual Fund Performance Fee Overview

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1 Certain Dynamic mutual funds may pay a performance fee to the Investment Manager. This document is intended to serve as a resource that will assist a Financial Advisor in discussing performance fees to clients. What is a performance fee? A performance fee is an expense paid by a Fund to its Investment Manager for outperforming its benchmark. Why are performance fees used? Performance fees are used to align the interests of the Investment Manager and investors. When a Fund outperforms its benchmark, it means growth is being generated and investors benefit from receiving above average returns while the Manager earns a performance fee. This performance fee represents 0% of the returns above the benchmark, with the investor retaining 90% of the overall performance difference. How are performance fees calculated? Performance fees for most funds are based on the average of the month-end NAVs during the calendar year multiplied by 0% of a measure of Fund performance relative to its benchmark. Fees are only payable if the Fund has positive returns and outperforms its benchmark. The Fund performance relative to the benchmark is tracked by two separate calculations and the lower of the two figures is used for calculating performance fees. The first calculation tracks the difference in returns of the Fund NAV and benchmark since the end of the period for which the last performance fee was paid. When the Fund outperforms the benchmark, the ending values of the NAV and benchmark are used for future year s calculations. The second calculation is a cumulative total of calendar year Fund versus benchmark performance. In years the Fund outperforms the benchmark, performance fees are payable. In years the Fund underperforms the benchmark, no fee is payable and the underperformance is carried forward to reduce performance fees in future years. If the performance of both the Fund and the benchmark are negative, no fee is payable, regardless of relative performance. See the performance fee calculation example. What if a Fund underperforms its benchmark? If a Fund underperforms its benchmark, no future performance fees are eligible to be paid until the negative performance is made up. This is implicit in the second calculation above, as any amount of underperformance is carried forward as a negative fee that must be made back before collecting a positive fee. How are performance fees paid? Performance fees are estimated and accrued daily to reflect in the Fund s NAV per Unit. With this method, investors pay performance fees based on the period of time that they have an investment in the fund. At the end of the calendar year, if the Fund has outperformed the benchmark, the performance fee is paid within thirty days. Can a Fund have a negative performance fee that lowers the overall MER? Yes, the Fund can have a negative incentive fee that lowers the overall MER. When performance fees in a series of the Fund accrue during the first half of the calendar year, they are included in the June 0 th fiscal year MER. If performance in the second half of the calendar year is negative, the accrued performance fees can be reversed. If these are not offset by performance fees in the first half of the subsequent year, it can result in a reduced or negative MER at the fiscal year-end. Is there a limit to performance fees if a Fund significantly outperforms its benchmark? Yes, the performance fees have a limit. To find the performance fee limit for your Fund, please see the Performance Fee Indices and Limits table. Are performance fees included in reported performance figures and metrics? Yes, reported figures and metrics based on fund performance do include performance fees. These statistics are based on the NAV per Unit, which accrues performance fees daily. Is the reported MER for Funds with performance fees an accurate representation of the fees and expenses an investor is currently paying to own the Fund? No, the MER is not an accurate depiction of current fees paid by investors. The MER is a backward-looking figure that is based on expenses and fees realized in the previous fiscal year. Since performance fees are dependent on performance, this component of the MER can vary greatly on a year-to-year basis. Which Funds have performance fees? See the attached tables for more information on specific funds. ADVISOR USE ONLY

2 Performance fee calculation example Year Year Year Year 4 Year 5 Average month-end NAV $65,000,000 $50,000,000 $80,000,000 $0,000,000 $00,000,000 0% of average month-ends $6,500,000 $5,000,000 $8,000,000 $0,00,000 $0,000,000 Performance fee limit $5,000 $50,000 $400,000 $50,000 $500,000 NAV return 8.0% -.0%.0%.% 9.0% Index return 0.0% -5.0% 8.5% 7.9% 9.5% Method A: Cumulative return since last time fees were paid NAV vs Index return difference -.0%.0%.5% 5.% -0.5% Performance fee $0 $50,000 $00,000 $540,600 $0 Method B: Current calendar year return NAV vs Index return difference -.0%.0%.5% 5.% -0.5% Current year performance fee $0 $0 $00,000 $540,600 $0 Negative performance fee carry forward -$0,000 -$0,000 -$0,000 $0 -$9,400 4 Performance fee after negative carry forwards $0 $0 $70,000 $540,600 $0 Performance fee adjusted for limit $0 $0 $70,000 $50,000 $0 HST 5 $0 $0 $9,00 $66,00 $0 Total performance fees paid $0 $0 $79,00 $576,00 $0 Positive performance fee carry forwards $0 $0 $0 $0,600 $0 Assumes performance fee limit is 0.5% of 0% of average month-end NAVs Cumulative return over years, resets going forward as fund outperformed benchmark in a given year Performance fees are not paid when fund has negative performance 4 Includes reduction of positive performance fee carry forwards 5 Uses HST rate of %

3 Management Expense Ratios (MERs) for June 0, 0 Fund MER including performance fees, MER excluding performance fees Dynamic Power Funds Dynamic Power American Growth Class.64%.4% Dynamic Power American Growth Fund.69%.45% Dynamic Power Balanced Class.%.% Dynamic Power Balanced Fund.0%.0% Dynamic Power Canadian Growth Class.44%.44% Dynamic Power Canadian Growth Fund.4%.4% Dynamic Power Global Balanced Class.97%.59% Dynamic Power Global Growth Class.4%.45% Dynamic Power Global Navigator Class.8%.8% Dynamic Power Managed Growth Class.66%.66% Dynamic Value Funds Dynamic Canadian Value Class.40%.40% Dynamic Far East Value Fund.56%.56% Dynamic Global Value Class.57%.57% Dynamic Equity Income Funds Dynamic Energy Income Fund.87%.6% Dynamic Small Business Fund.75%.75% Dynamic Fixed Income Funds Dynamic Corporate Bond Strategies Class 4 4 Dynamic Corporate Bond Strategies Fund.98%.98% Dynamic High Yield Bond Fund.8% 5.8% 5 Dynamic Strategic Global Bond Fund.07%.98% Dynamic Specialty Funds DMP Resource Class.84%.84% Dynamic Alternative Yield Class 4 4 Dynamic Alternative Yield Fund.49%.49% Dynamic Focus+ Resource Fund.4%.4% Dynamic Global Real Estate Fund.44%.44% Dynamic Strategic Energy Class.6%.6% Dynamic Strategic Resource Class.66%.66% For Series A units, as at June 0, 0 Inclusive of all expenses and performance fees, after absorption is applied Performance fees in this series of the Fund were accrued during the first half of the 0 calendar year and were included in the June 0, 0 fiscal year end MER. During the second half of the calendar year the accrued performance fees were reversed, resulting in a reduced or negative MER for June 0, 0. 4 MER information is not available because this is a new Fund 5 Performance fees on Series P and Series FP units only; MER for Series P units shown

4 Performance fee indices and limits Fund Performance fee index Performance fee limit Dynamic Power Funds Dynamic Power American Growth Class S&P 500 Index (C$).85% Dynamic Power American Growth Fund S&P 500 Index (C$).75% Dynamic Power Balanced Class 50% S&P/TSX Composite Index and 50% DEX Universe Bond Index.75% Dynamic Power Balanced Fund 50% S&P/TSX Composite Index and 50% DEX Universe Bond Index.75% Dynamic Power Canadian Growth Class S&P/TSX Composite Index.85% Dynamic Power Canadian Growth Fund S&P/TSX Composite Index.75% Dynamic Power Global Balanced Class 50% MSCI World Index (C$) and 50% JPM Gov t Bond Index (C$).75% Dynamic Power Global Growth Class MSCI World Index (C$).85% Dynamic Power Global Navigator Class MSCI World Index (C$).75% Dynamic Power Managed Growth Class S&P/TSX Composite Index.00% Dynamic Value Funds Dynamic Canadian Value Class S&P/TSX Composite Index.85% Dynamic Far East Value Fund MSCI AC Asia Pacific Free Index (C$).00% Dynamic Global Value Class MSCI World Index (C$).85% Dynamic Equity Income Funds Dynamic Energy Income Fund S&P/TSX Capped Energy Index Dynamic Small Business Fund BMO Small Cap Blended Weighted Index.5% Dynamic Fixed Income Funds Dynamic Corporate Bond Strategies Class Dynamic Corporate Bond Strategies Fund Dynamic High Yield Bond Fund 50% DEX All Corporate Bond Index and 50% BofA Merrill Lynch US Corporate Master Index (C$, hedged) 50% DEX All Corporate Bond Index and 50% BofA Merrill Lynch US Corporate Master Index (C$, hedged) 50% Merrill Lynch US High Yield Master II Index (C$, hedged) and 50% Merrill Lynch High Yield Canadian Issuers Index (C$, hedged) Dynamic Strategic Global Bond Fund Barclays Global Aggregate Bond Index (C$).50% Dynamic Specialty Funds DMP Resource Class See description below Dynamic Alternative Yield Class 5% FTSE NAREIT All Mortgage Capped Index (C$), 5% S&P 500 Dividend Aristocrats Index (C$), 5% First Trust Composite Closed-End Fund Total Return Index (C$), and 5% CBOE S&P 500 BuyWrite Index (C$) Dynamic Alternative Yield Fund 5% FTSE NAREIT All Mortgage Capped Index (C$), 5% S&P 500 Dividend Aristocrats Index (C$), 5% First Trust Composite Closed-End Fund Total Return Index (C$), and 5% CBOE S&P 500 BuyWrite Index (C$) Dynamic Focus+ Resource Fund S&P North American Natural Resources Sector Index (C$).00% Dynamic Global Real Estate Fund 0% BBC REIT Index and 70% FTSE Real Estate Index (C$) Dynamic Strategic Energy Class 75% S&P/TSX Capped Energy Index and 5% MSCI World Energy Index (C$) Dynamic Strategic Resource Class 50% S&P/TSX Capped Energy Index and 50% S&P/TSX Capped Materials Index No performance fees are payable on Series I, Series IT (except in the case of Dynamic Power Balanced Class, which charges a performance fee on its Seris IT shares on a per series basis) and Series O securities. Performance fees in respect of Series FH and Series H securities are calculated using the US dollar net asset values and Canadian dollar reference index. Dynamic Energy Income Fund received the approval of the Canadian securities regulator authorities to replace the benchmark applicable to the Fund from the S&P/TSX Capped Energy Trust Index (which has ceased) to the S&P/TSX Capped Energy Index effective January, 0. Dynamic High Yield Bond Fund only charges performance fees on Series FP, Series P, and Series OP units..50%.50%.00%

5 DMP Resource Class performance fee The performance fee applicable to DMP Resource Class is calculated differently from what is described above. For DMP Resource Class, we are entitled to a performance fee equal to 0% of the amount by which the net asset value of the Fund exceeds a threshold annualized increase of % (excluding the effect of distributions) calculated on the last day of each calendar year of the Fund. No performance fee will be payable in any calendar year unless: a) cumulative total returns exceed a % cumulative return since inception on the original net asset value per share of $5.00; and b) the total return for the Fund for such year exceeds the simple average of the annual total return of: i) the Peters JP Index; ii) the Peters SP Index; and iii) the weighted average of: the Oil & Gas Exploration and Production Subgroup of the S&P/TSX Composite Index TR; the Diversified Metals and Mining Subgroup of the S&P/TSX Composite Index TR; and the Gold Subgroup of the S&P/TSX Composite Index TR. 09DWD7_DF_PerformFeeOverview_0_EN_V_DOP_ MOE90 Customer Relations Centre Toll free: Tel: (English) (French) service@dynamic.ca advisor.dynamic.ca Dynamic Funds is a registered trademark of its owner, used under license, and a division of 8 Asset Management L.P. ADVISOR USE ONLY Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.