CCOERA Target Date Funds

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1 CCOERA Target Date Funds Fact Sheets One fund may be all that s needed. CCOERA Target Date Funds are designed to simplify the choices you have to invest your retirement savings. Simply select one (1) diversified target date fund based upon your projected retirement year. This relieves you of the need to select multiple individual funds and monitor and manage reallocations among those multiple funds. Each target date fund includes investments from the existing CCOERA core funds plus new asset classes, which provide additional diversification. * The date in a target date fund name represents an approximate date when an investor expects to retire. The principal value of the funds is not guaranteed at any time, including on the target date. SNAPSHOT OF TARGET DATE FUND FEATURES DIVERSIFICATION Each target date fund is a well-diversified mix of underlying stock and bond investments. The investment mix becomes more conservative (fewer stocks and more bonds) as the target date is approached. By choosing a target date fund for retirement savings, you gain the benefit of investment diversification in a single option. AUTOMATIC REALLOCATION Target date funds automatically reduce stock holdings and increase bond holdings over time to ensure the allocation remains on track to help you achieve your long-term investment strategy for your projected retirement year. PORTFOLIO REBALANCING Target date funds are automatically rebalanced quarterly to ensure they maintain their target asset allocations even as markets may shift. Here is an example of how a CCOERA Target Date Fund will change over time. 36 years old AGGRESSIVE TO CONSERVATIVE 74 years old 9% 91% 29% 71% 56% 44% 77% 23% SAMPLE CCOERA TARGET DATE FUND BONDS STOCKS 30 years to retirement 15 years to retirement Age 66, the year of retirement Age 74 and ongoing thereafter Percentages are subject to change based on the determinations of CCOERA s investment adviser. Empower Retirement is not responsible for the composition of CCOERA Target Date Funds. Please consider the investment objectives, risks, fees and expenses carefully before investing. Additional disclosure documents can be obtained from your plan website. Read them carefully before investing. * Diversification of an investment portfolio does not ensure a profit and does not protect against loss in declining markets. 1

2 CCOERA TDF INCOME Portfolio Investment Management Fees 0.36% CCOERA Book Value 55.00% Met West Total Return 12.00% Vanguard Inst 500 Index 2.50% American Beacon Intl Equity 2.00% American Funds EuroPac Growth 2.00% Dodge & Cox Stock 1.25% Harbor Capital Appreciation 1.25% Artisan Mid Cap Growth 0.67% Vanguard Mid Cap Index 0.67% American Beacon Small Cap Value 0.33% Vanguard Small Cap Index 0.33% MainStay 7.00% DFA Core 2.00% BlackRock Strategic Income Opps. 1.50% JPMorgan Strategic Income Opps. 1.50% US Fixed Income 1 55% 15% 10% 7% 5% 4% 2% 2% 0% CCOERA TDF 2010 Portfolio Investment Management Fees 0.43% CCOERA Book Value 45.00% Met West Total Return 6.40% Vanguard Inst 500 Index 5.00% American Beacon Intl Equity 4.00% American Funds EuroPac Growth 4.00% Dodge & Cox Stock 2.50% Harbor Capital Appreciation 2.50% Artisan Mid Cap Growth 1.33% Vanguard Mid Cap Index 1.33% American Beacon Small Cap Value 0.67% Vanguard Small Cap Index 0.67% MainStay 7.00% DFA Core 3.00% BlackRock Strategic Income Opps. 0.80% JPMorgan Strategic Income Opps. 0.80% US Fixed Income 1 45% 10% 10% 8% 8% 7% 5% 4% 3% CCOERA TDF 2015 Portfolio Investment Management Fees 0.45% CCOERA Book Value 41.00% Met West Total Return 6.40% Vanguard Inst 500 Index 6.00% American Beacon Intl Equity 4.50% American Funds EuroPac Growth 4.50% Dodge & Cox Stock 3.00% Harbor Capital Appreciation 3.00% Artisan Mid Cap Growth 1.67% Vanguard Mid Cap Index 1.67% American Beacon Small Cap Value 0.83% Vanguard Small Cap Index 0.83% MainStay 7.00% DFA Core 3.00% BlackRock Strategic Income Opps. 0.80% JPMorgan Strategic Income Opps. 0.80% US Fixed Income 1 41% 12% 10% 9% 8% 7% 5% 5% 3% 2

3 CCOERA TDF 2020 Portfolio Investment Management Fees 0.49% CCOERA Book Value 30.00% Met West Total Return 8.80% Vanguard Inst 500 Index 7.50% American Beacon Intl Equity 6.00% American Funds EuroPac Growth 6.00% Dodge & Cox Stock 3.75% Harbor Capital Appreciation 3.75% Artisan Mid Cap Growth 2.00% Vanguard Mid Cap Index 2.00% American Beacon Small Cap Value 1.00% Vanguard Small Cap Index 1.00% MainStay 7.00% DFA Core 4.00% BlackRock Strategic Income Opps. 1.10% JPMorgan Strategic Income Opps. 1.10% US Fixed Income 1 30% 15% 12% 11% 10% 7% 6% 5% 4% CCOERA TDF 2025 Portfolio Investment Management Fees 0.51% CCOERA Book Value 21.00% Vanguard Inst 500 Index 10.00% American Beacon Intl Equity 8.50% American Funds EuroPac Growth 8.50% Met West Total Return 6.40% Dodge & Cox Stock 5.00% Harbor Capital Appreciation 5.00% Artisan Mid Cap Growth 2.68% Vanguard Mid Cap Index 2.68% American Beacon Small Cap Value 1.32% Vanguard Small Cap Index 1.32% MainStay 7.00% DFA Core 6.00% JH Funds Global Absolute Return 4.00% Litman Gregory 4.00% BlackRock Strategic Income Opps. 0.80% JPMorgan Strategic Income Opps. 0.80% 21% 20% 17% 8% 8% 8% 7% 6% 5% CCOERA TDF 2030 Portfolio Investment Management Fees 0.52% CCOERA Book Value 15.00% Vanguard Inst 500 Index 12.00% American Beacon Intl Equity 9.50% American Funds EuroPac Growth 9.50% Dodge & Cox Stock 6.00% Harbor Capital Appreciation 6.00% Met West Total Return 5.60% Artisan Mid Cap Growth 3.35% Vanguard Mid Cap Index 3.35% American Beacon Small Cap Value 1.65% Vanguard Small Cap Index 1.65% DFA Core 7.00% MainStay 7.00% JH Funds Global Absolute Return 3.00% Litman Gregory 3.00% BlackRock Strategic Income Opps. 0.70% JPMorgan Strategic Income Opps. 0.70% US Fixed Income 1 24% 19% 15% 10% 7% 7% 7% 6% 5% 3

4 CCOERA TDF 2035 Portfolio Investment Management Fees 0.54% Vanguard Inst 500 Index 13.50% American Beacon Intl Equity 11.00% American Funds EuroPac Growth 11.00% CCOERA Book Value 10.00% Dodge & Cox Stock 6.75% Harbor Capital Appreciation 6.75% Met West Total Return 4.00% Artisan Mid Cap Growth 3.68% Vanguard Mid Cap Index 3.68% American Beacon Small Cap Value 1.82% Vanguard Small Cap Index 1.82% DFA Core 7.00% MainStay 7.00% JH Funds Global Absolute Return 3.00% Litman Gregory 3.00% BlackRock Strategic Income Opps. 0.50% JPMorgan Strategic Income Opps. 0.50% US Fixed Income 1 27% 22% 11% 10% 7% 7% 6% 5% 5% CCOERA TDF 2040 Portfolio Investment Management Fees 0.54% Vanguard Inst 500 Index 16.00% American Beacon Intl Equity 12.50% American Funds EuroPac Growth 12.50% Dodge & Cox Stock 8.00% Harbor Capital Appreciation 8.00% Met West Total Return 1.60% DFA Core 9.00% Opp. Steelpath MLP Alpha 6.00% MainStay 5.00% JH Funds Global Absolute Return 2.00% Litman Gregory 2.00% BlackRock Strategic Income Opps. 0.20% JPMorgan Strategic Income Opps. 0.20% 32% 25% 13% 9% 6% 5% 4% 4% 2% CCOERA TDF 2045 Portfolio Investment Management Fees 0.53% DFA Core 9.00% MainStay 5.00% 4

5 CCOERA TDF 2050 Portfolio Investment Management Fees 0.53% DFA Core 9.00% MainStay 5.00% CCOERA TDF 2055 Portfolio Investment Management Fees 0.53% DFA Core 9.00% MainStay 5.00% CCOERA TDF 2060 Portfolio Investment Management Fees 0.53% DFA Core 9.00% MainStay 5.00% 5

6 CCOERA TARGET DATE FUNDS (CONT.) Selecting a CCOERA Target Date Fund is easy. You will generally select a target date fund (see table below) based on birth year, age and projected retirement date at age 66. If you do not make an investment election in the CCOERA Plan, you will be enrolled in a target date fund based on data shown on the table below. DATE OF BIRTH PARTICIPANT AGE RANGE EXPECTED RETIREMENT DATE RANGE CCOERA TARGET DATE FUND (TDF) Prior to or older 2007 or before CCOERA TDF Income CCOERA TDF CCOERA TDF CCOERA TDF CCOERA TDF CCOERA TDF CCOERA TDF CCOERA TDF CCOERA TDF CCOERA TDF CCOERA TDF or after 25 or younger 2058 or after CCOERA TDF 2060 Custom Designed by Experienced Investment Professionals Innovest Portfolio Solutions LLC designed CCOERA Target Date Funds with the unique needs of CCOERA s participants in mind. Its investment professionals have applied more than 20 years of investment research experience across the capital markets in designing and maintaining an investment mix that makes sense for you no matter where you are on the retirement-savings path. Questions? Call CCOERA toll free at (800) Visit the website at 1 A bond fund s yield, share price and total return change daily and are based on changes in interest rates, market conditions, economic and political news, and the quality and maturity of its investments. In general, bond prices fall when interest rates rise and vice versa. 2 Specialty funds invest in a limited number of companies and are generally non-diversified. As a result, changes in market value of a single issuer could cause greater volatility than with a more diversified fund. 3 Foreign investments involve special risks, including currency fluctuations, taxation differences and political developments. 4 Equity securities of small and mid-size companies may be more volatile than securities of larger, more established companies. 5 Equity securities of companies located in emerging markets involve greater risks than investments in more established markets, including currency fluctuations, political developments and share lliquidity. FOR ILLUSTRATIVE PURPOSES ONLY. Asset Allocation and balanced investment options and models are subject to the risks of the underlying funds, which can be a mix of stocks/stock funds and bonds/bond funds. Asset allocations as of May 1, The CCOERA Target Date Fund allocations are based on an investment strategy relying on risk and return. This is not intended as financial planning or investment advice. The allocations for the funds are subject to change. Fund data sheets are available at Innovest Portfolio Solutions LLC is not affiliated with Great-West Life & Annuity Insurance Company Great-West Life & Annuity Insurance Company. All rights reserved BRO (15429) AM