INVESTMENT FUNDS. iag Savings and Retirement Plan. As at December 31, Fund Facts

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1 INVESTMENT FUNDS iag Savings and Retirement Plan As at December 31, 2017 Fund Facts

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3 TABLE OF CONTENTS List of Funds Offered by Industrial Alliance Insurance and Financial Services Inc...3 Professional Management of the Funds...6 Management Fees and Management Expense Ratio MER... 8 Investment Objectives and Risk Factors associated with Funds...11 Fund Facts FOCUS FUNDS Focus Prudent...28 Focus...30 Focus Balanced...32 Focus Growth Focus Aggressive...36 SELECTION FUNDS Selection Prudent...38 Selection...40 Selection Balanced...42 Selection Growth Selection Aggressive INCOME FUNDS Money Market...48 Short Term Bond...50 Bond...52 Canadian Corporate Bond...54 Strategic Corporate Bond...56 Fidelity American High Yield Currency Neutral...58 Tactical Bond...60 Real Return Bond Global Fixed Income (PIMCO) DIVERSIFIED FUNDS Diversified Security Diversified...68 Diversified Opportunity Canadian Balanced (QV) SRI Balanced (Inhance) Diversified Income...76 Strategic Income...78 Global Diversified (Loomis Sayles)...80 Tactical Income...82 Global Diversified Fixed Income (Forstrong) Global Diversified (Forstrong) Global Diversified Equity (Forstrong) Fidelity Global Monthly Income...90 CANADIAN HYBRID FUNDS Strategic Equity Income Hybrid 75/ Dividend Growth Hybrid 75/ Canadian Conservative Equity Hybrid 75/ Canadian Equity Index Hybrid 75/ Select Canadian Hybrid 75/ Canadian Equity Value Hybrid 75/ Canadian Equity (Taylor AM) Hybrid 75/ Fidelity True North Hybrid 75/ Canadian Equity Growth Hybrid 75/ Fidelity Canadian Opportunities Hybrid 75/ Canadian Equity Small Cap (QV) Hybrid 75/ GLOBAL HYBRID FUNDS Global Dividend (Dynamic) Hybrid 75/ Global Equity Hybrid 75/ Global Equity (Templeton) Hybrid 75/ Global Opportunities (Radin) Hybrid 75/ Global True Conviction Hybrid 75/ Fidelity NorthStar Hybrid 75/ U.S. Equity (Sarbit) Currency Neutral Hybrid 75/

4 CANADIAN EQUITY FUNDS Strategic Equity Income Dividend Growth Canadian Conservative Equity Canadian Equity Index Select Canadian Canadian Equity Value Canadian Equity (Taylor AM) Fidelity True North Canadian Equity Growth Fidelity Canadian Opportunities Canadian Equity Small Cap (QV) U.S. & INTERNATIONAL EQUITY FUNDS Global Dividend (Dynamic) Global Equity Global Equity (Templeton) Global Opportunities (Radin) Global True Conviction Fidelity Global concentrated Equity Fidelity NorthStar International Equity Index (BlackRock) International Equity International Equity (Templeton) Fidelity European Equity U.S. Equity Index (BlackRock) U.S. Equity U.S. Equity Currency Neutral U.S. Dividend Growth U.S. Equity (Sarbit) Currency Neutral SPECIALTY FUNDS Asian Pacific (Dynamic) Emerging Markets (Mackenzie) Global Health Care (Renaissance) Real Estate Income U.S. DAQ Index INDEXIA FUNDS Indexia Prudent Indexia Indexia Balanced Indexia Growth Indexia Aggressive FORLIFE SERIES FUNDS INCOME STAGE FORLIFE Guaranteed Maximum Income FORLIFE Guaranteed Income & Growth

5 List of Funds Offered by Industrial Alliance Insurance and Financial Services Inc. Industrial Alliance Insurance Fund Investment Inception and Financial Services Inc. Funds Manager Advisor Date FOCUS FUNDS Focus Prudent IA Industrial Alliance Investment Management Inc. OCT 2002 Focus IA Industrial Alliance Investment Management Inc. OCT 2002 Focus Balanced IA Industrial Alliance Investment Management Inc. OCT 2002 Focus Growth IA Industrial Alliance Investment Management Inc. OCT 2002 Focus Aggressive IA Industrial Alliance Investment Management Inc. OCT 2002 SELECTION FUNDS Selection Prudent IA Industrial Alliance Investment Management Inc. DEC 2013 Selection IA Industrial Alliance Investment Management Inc. DEC 2013 Selection Balanced IA Industrial Alliance Investment Management Inc. DEC 2013 Selection Growth IA Industrial Alliance Investment Management Inc. DEC 2013 Selection Aggressive IA Industrial Alliance Investment Management Inc. DEC 2013 INCOME FUNDS Money Market IA Industrial Alliance Investment Management Inc. SEP 1991 Short Term Bond IA Industrial Alliance Investment Management Inc. JAN 1998 Bond IA Industrial Alliance Investment Management Inc. MAY 1977 Canadian Corporate Bond IA Industrial Alliance Investment Management Inc. MAY 2016 Strategic Corporate Bond 1 IA IA Clarington Investments Inc. JAN 2012 Fidelity American High Yield Currency Neutral IA Fidelity Investments JUN 2015 Tactical Bond IA IA Clarington Investments Inc. JUL 2010 Real Return Bond 2 IA Industrial Alliance Investment Management Inc. JAN 2012 Global Fixed Income (PIMCO) IA PIMCO MAR 2013 DIVERSIFIED FUNDS Diversified Security IA Industrial Alliance Investment Management Inc. JAN 1999 Diversified IA Industrial Alliance Investment Management Inc. JAN 1987 Diversified Opportunity IA Industrial Alliance Investment Management Inc. JAN 1999 Canadian Balanced (QV) IA QV Investors Inc. DEC 2009 SRI Balanced (Inhance) IA Vancity Investment Management Ltd. DEC 2009 Diversified Income IA Industrial Alliance Investment Management Inc. OCT 2003 Strategic Income IA IA Clarington Investments Inc. JAN 2012 Global Diversified (Loomis Sayles) 2 IA Loomis Sayles & Company NOV 2006 Tactical Income IA IA Clarington Investments Inc. NOV 2008 Global Diversified Fixed Income (Forstrong) IA Forstrong Global Asset Management DEC 2017 Global Diversified (Forstrong) IA Forstrong Global Asset Management MAY 2016 Global Diversified Equity (Forstrong) IA Forstrong Global Asset Management DEC 2017 Fidelity Global Monthly Income IA Fidelity Investments DEC 2017 CANADIAN HYBRID FUNDS Strategic Equity Income Hybrid 75/25 IA IA Clarington Investments Inc. JAN 2011 Dividend Growth Hybrid 75/25 IA Industrial Alliance Investment Management Inc. JAN 2011 Canadian Conservative Equity Hybrid 75/25 IA IA Clarington Investments Inc. JAN 2011 Canadian Equity Index Hybrid 75/25 IA Industrial Alliance Investment Management Inc. JAN 2011 Select Canadian Hybrid 75/25 3 IA Industrial Alliance Investment Management Inc. JAN 2011 Canadian Equity Value Hybrid 75/25 IA Industrial Alliance Investment Management Inc. JAN 2011 Canadian Equity (Taylor AM) Hybrid 75/25 2 IA Taylor Asset Management Inc. JAN 2011 Fidelity True North Hybrid 75/25 IA Fidelity Investments JAN 2011 Canadian Equity Growth Hybrid 75/25 IA Industrial Alliance Investment Management Inc. JAN 2011 Fidelity Canadian Opportunities Hybrid 75/25 2 IA Fidelity Investments JAN 2011 Canadian Equity Small Cap (QV) Hybrid 75/25 2 IA QV Investors Inc. JAN

6 Industrial Alliance Insurance Fund Investment Inception and Financial Services Inc. Funds Manager Advisor Date GLOBAL HYBRID FUNDS Global Dividend (Dynamic) Hybrid 75/25 IA Dynamic Funds JAN 2011 Global Equity Hybrid 75/25 IA Industrial Alliance Investment Management Inc. JAN 2011 Global Equity (Templeton) Hybrid 75/25 IA Franklin Templeton Investments JAN 2011 Global Opportunities (Radin) Hybrid 75/25 2 IA Radin Capital Partners Inc. JAN 2012 Global True Conviction Hybrid 75/25 IA Industrial Alliance Investment Management Inc. JAN 2011 Fidelity NorthStar Hybrid 75/25 IA Fidelity Investments JAN 2011 U.S. Equity (Sarbit) Currency Neutral Hybrid 75/25 2 IA Sarbit Advisory Services Inc. JAN 2011 CANADIAN EQUITY FUNDS Strategic Equity Income IA IA Clarington Investments Inc. NOV 2005 Dividend Growth IA Industrial Alliance Investment Management Inc. NOV 2005 Canadian Conservative Equity IA IA Clarington Investments Inc. NOV 2004 Canadian Equity Index IA Industrial Alliance Investment Management Inc. SEP 2001 Select Canadian 3 IA Industrial Alliance Investment Management Inc. JAN 1998 Canadian Equity Value IA Industrial Alliance Investment Management Inc. MAY 1969 Canadian Equity (Taylor AM) IA Taylor Asset Management Inc. NOV 2001 Fidelity True North IA Fidelity Investments JAN 1999 Canadian Equity Growth IA Industrial Alliance Investment Management Inc. OCT 2001 Fidelity Canadian Opportunities IA Fidelity Investments JAN 1999 Canadian Equity Small Cap (QV) IA QV Investors Inc. NOV 2008 U.S. & INTERNATIONAL EQUITY FUNDS Global Dividend (Dynamic) IA Dynamic Funds NOV 2006 Global Equity IA Industrial Alliance Investment Management Inc. JUL 2009 Global Equity (Templeton) IA Franklin Templeton Investments SEP 2001 Global Opportunities (Radin) IA Radin Capital Partners Inc. JAN 2012 Global True Conviction IA Industrial Alliance Investment Management Inc. JAN 2011 Fidelity Global Concentrated Equity IA Fidelity Investments DEC 2017 Fidelity NorthStar IA Fidelity Investments NOV 2005 International Equity Index (BlackRock) IA BlackRock SEP 1999 International Equity IA Industrial Alliance Investment Management Inc. NOV 2008 International Equity (Templeton) IA Franklin Templeton Investments JAN 1996 Fidelity European Equity IA Fidelity Investments JAN 1999 U.S. Equity Index (BlackRock) IA BlackRock JAN 1998 U.S. Equity IA Industrial Alliance Investment Management Inc. DEC 2006 U.S. Equity Currency Neutral IA Industrial Alliance Investment Management Inc. MAY 2016 U.S. Dividend Growth IA Industrial Alliance Investment Management Inc. NOV 2005 U.S. Equity (Sarbit) Currency Neutral IA Sarbit Advisory Services Inc. DEC 2009 SPECIALTY FUNDS Asian Pacific (Dynamic) IA Dynamic Funds JAN 2000 Emerging Markets (Mackenzie) IA Mackenzie Investment Management Ltd. JAN 1997 Global Health Care (Renaissance) IA CIBC Asset Management SEP 2001 Real Estate Income IA Industrial Alliance Investment Management Inc. OCT 2003 U.S. DAQ Index IA Industrial Alliance Investment Management Inc. SEP Fund closed to new investments 2 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series. 3 Only available in nonregistered contracts 4

7 Industrial Alliance Insurance Fund Investment Inception and Financial Services Inc. Funds Manager Advisor Date INDEXIA FUNDS Indexia Prudent IA Industrial Alliance Investment Management Inc. DEC 2017 Indexia IA Industrial Alliance Investment Management Inc. DEC 2017 Indexia Balanced IA Industrial Alliance Investment Management Inc. DEC 2017 Indexia Growth IA Industrial Alliance Investment Management Inc. DEC 2017 Indexia Aggressive IA Industrial Alliance Investment Management Inc. DEC 2017 FORLIFE SERIES FUNDS INCOME STAGE FORLIFE Guaranted Maximum Income IA Industrial Alliance Investment Management Inc. NOV 2014 FORLIFE Guaranted Income & Growth IA Industrial Alliance Investment Management Inc. NOV

8 Professional Management of the Funds GLOBAL EQUITY (TEMPLETON) INTERNATIONAL EQUITY (TEMPLETON) GLOBAL EQUITY (TEMPLETON) HYBRID 75/25 INTERNATIONAL EQUITY INDEX (BLACKROCK) U.S. EQUITY INDEX (BLACKROCK) FIDELITY AMERICAN HIGH YIELD CURRENCY NEUTRAL FIDELITY TRUE NORTH FIDELITY CANADIAN OPPORTUNITIES FIDELITY NORTHSTAR FIDELITY EUROPEAN EQUITY FIDELITY TRUE NORTH HYBRID 75/25 FIDELITY CANADIAN OPPORTUNITIES HYBRID 75/25 2 FIDELITY NORTHSTAR HYBRID 75/25 FIDELITY GLOBAL MONTHLY INCOME FIDELITY GLOBAL CONCENTRATED EQUITY GLOBAL DIVIDEND (DYNAMIC) ASIAN PACIFIC (DYNAMIC) GLOBAL DIVIDEND (DYNAMIC) HYBRID 75/25 CANADIAN EQUITY SMALL CAP (QV) CANADIAN BALANCED (QV) CANADIAN EQUITY SMALL CAP (QV) HYBRID 75/25 2 EMERGING MARKETS (MACKENZIE) GLOBAL DIVERSIFIED (LOOMIS SAYLES) 2 U.S. EQUITY (SARBIT) CURRENCY NEUTRAL U.S. EQUITY (SARBIT) CURRENCY NEUTRAL HYBRID 75/25 2 SRI BALANCED (INHANCE) GLOBAL FIXED INCOME (PIMCO) Franklin Templeton Investments 5000 Yonge Street, Suite 900 Toronto, Ontario M2N 0A7 BlackRock 161 Bay Street, Suite 2500 PO Box 614 Toronto, Ontario M5J 2S1 Fidelity Investments Canada Limited 483 Bay Street, Suite 300 Toronto, Ontario M5G 2N7 Dynamic Funds 1 Adelaide Street East, 29 th Floor Toronto, Ontario M5C 2V9 QV Investors Inc. Livingston Place, South Tower rd Avenue SW, Suite 1008 Calgary, Alberta T2P 0B4 Mackenzie Financial Corporation 180 Queen Street West Toronto, Ontario M5V 3K1 Loomis, Sayles & Company One Financial Center 655 Atlantic Ave, Boston Boston, MA Sarbit Advisory Services Inc Evergreen Place Winnipeg, Manitoba R3L 0E9 Vancity Investment Management Ltd. 900 West Hastings Street, Suite 300 Vancouver, British Columbia V6C 1E5 PIMCO Canada Corp. 199, Bay Street, Suite 2050 Commerce Court Station P.O. Box 363 Toronto, Ontario M5L 1G2 6

9 Professional Management of the Funds GLOBAL HEALTH CARE (RENAISSANCE) TACTICAL INCOME TACTICAL BOND STRATEGIC CORPORATE BOND 1 STRATEGIC INCOME STRATEGIC EQUITY INCOME STRATEGIC EQUITY INCOME HYBRID 75/25 CANADIAN CONSERVATIVE EQUITY CANADIAN CONSERVATIVE EQUITY HYBRID 75/25 GLOBAL OPPORTUNITIES (RADIN) GLOBAL OPPORTUNITIES (RADIN) HYBRID 75/25 2 CANADIAN EQUITY (TAYLOR AM) CANADIAN EQUITY (TAYLOR AM) HYBRID 75/25 2 GLOBAL DIVERSIFIED (FORSTRONG) GLOBAL DIVERSIFIED FIXED INCOME (FORSTRONG) GLOBAL DIVERSIFIED EQUITY (FORSTRONG) CIBC Asset Management 1500 University Street, Suite 800 Montreal, Quebec H3A 3S6 IA Clarington Investments Inc. 522 University Avenue, Suite 700 Toronto, Ontario M5G 1Y7 Radin Capital Partners Inc Yonge Street, Suite 703 Toronto, Ontario M4T 1X3 Taylor Asset Management Inc. Bay Adelaide Centre 333 Bay Street, Suite 1230 Toronto, Ontario M5H 2R2 Forstrong Global Asset Management 26 Wellington Street East, Suite 920 Toronto, Ontario M5E 1S2 1 Fund closed to new investments 2 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 7

10 Management Fees and Management Expense Ratio MER as at December 31, 2017 Management Fees () 1 Management Expense Ratio (MER) () 1 Fund Fee Rate () 1 Classic Series 75/75 Classic Series 75/75 Prestige Ecoflex Series 100/100 FORLIFE Series Series 75/100 Series 75/100 Prestige Exchangetraded fund (ETF) fee () 2 Classic Series 75/75 Classic Series 75/75 Prestige Ecoflex Series 100/100 FORLIFE Series Series 75/100 Series 75/100 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series FOCUS FUNDS Focus Prudent Focus Focus Balanced Focus Growth Focus Aggressive SELECTION FUNDS Selection Prudent Selection Selection Balanced Selection Growth Selection Aggressive INCOME FUNDS Money Market Short Term Bond Bond Canadian Corporate Bond Strategic Corporate Bond Fidelity American High Yield Currency Neutral Tactical Bond Real Return Bond Global Fixed Income (PIMCO) DIVERSIFIED FUNDS Diversified Security Diversified Diversified Opportunity Canadian Balanced (QV) SRI Balanced (Inhance) Diversified Income Strategic Income Global Diversified (Loomis Sayles) Tactical Income Global Diversified Fixed Income (Forstrong) ** Global Diversified (Forstrong) Global Diversified Equity (Forstrong) ** Fidelity Global Monthly Income **

11 Management Fees (%) 1 Management Expense Ratio (MER) (%) 1 Fund Fee Rate (%) 1 Classic Series 75/75 Classic Series 75/75 Prestige Ecoflex Series 100/100 FORLIFE Series Series 75/100 Series 75/100 Prestige Exchangetraded fund (ETF) fee (%) 2 Classic Series 75/75 Classic Series 75/75 Prestige Ecoflex Series 100/100 FORLIFE Series Series 75/100 Series 75/100 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series CANADIAN HYBRID FUNDS Strategic Equity Income Hybrid 75/ Dividend Growth Hybrid 75/ Canadian Conservative Equity Hybrid 75/ Canadian Equity Index Hybrid 75/ Select Canadian Hybrid 75/ Canadian Equity Value Hybrid 75/ Canadian Equity (Taylor AM) Hybrid 75/ Fidelity True North Hybrid 75/ Canadian Equity Growth Hybrid 75/ Fidelity Canadian Opportunities Hybrid 75/ Canadian Equity Small Cap (QV) Hybrid 75/ GLOBAL HYBRID FUNDS Global Dividend (Dynamic) Hybrid 75/ Global Equity Hybrid 75/ Global Equity (Templeton) Hybrid 75/ Global Opportunities (Radin) Hybrid 75/ Global True Conviction Hybrid 75/ Fidelity NorthStar Hybrid 75/ U.S. Equity (Sarbit) Currency Neutral Hybrid 75/ CANADIAN EQUITY FUNDS Strategic Equity Income Dividend Growth Canadian Conservative Equity Canadian Equity Index Select Canadian Canadian Equity Value Canadian Equity (Taylor AM) Fidelity True North Canadian Equity Growth Fidelity Canadian Opportunities Canadian Equity Small Cap (QV)

12 Management Fees (%) 1 Management Expense Ratio (MER) (%) 1 Fund Fee Rate (%) 1 Classic Series 75/75 Classic Series 75/75 Prestige Ecoflex Series 100/100 FORLIFE Series Series 75/100 Series 75/100 Prestige Exchangetraded fund (ETF) fee (%) 2 Classic Series 75/75 Classic Series 75/75 Prestige Ecoflex Series 100/100 FORLIFE Series Series 75/100 Series 75/100 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series U.S. & INTERNATIONAL EQUITY FUNDS Global Dividend (Dynamic) Global Equity Global Equity (Templeton) Global Opportunities (Radin) Global True Conviction Fidelity Global Concentrated Equity ** Fidelity NorthStar International Equity Index (BlackRock) International Equity International Equity (Templeton) Fidelity European Equity U.S. Equity Index (BlackRock) U.S. Equity U.S. Equity Currency Neutral U.S. Dividend Growth U.S. Equity (Sarbit) Currency Neutral SPECIALTY FUNDS Asian Pacific (Dynamic) Emerging Markets (Mackenzie) Global Health Care (Renaissance) Real Estate Income U.S. DAQ Index INDEXIA FUNDS Indexia Prudent ** Indexia ** Indexia Balanced ** Indexia Growth ** Indexia Aggressive ** FORLIFE SERIES FUNDS INCOME STAGE FORLIFE Guaranteed Maximum Income FORLIFE Guaranteed Income & Growth ** MER is estimated since the fund is new and may vary at any time 1 For details on the Management Fees, MER and Fund Fee Rate, refer to Section 7.3 of the IAG Savings and Retirement Plan Information Folder. 2 ETFs are underlying funds in which segregated funds can invest. The ETF Fees, which are charged by the ETFs managers, cover the ETFs management fees and their expenses, which may include expenses for portfolio management, administration, audit, taxes and other fees. The ETF Fees are included in the MER. 3 Fund closed to new investments 4 Funds closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 5 Only available in nonregistered contracts 6 The MER includes the insurance fee associated with the Income Stage guarantee of the FORLIFE Series. The insurance fee included in the MER is

13 Investment Objectives and Risk Factors Associated with the Funds The following are investment objectives and risk factors associated with the Funds offered by Industrial Alliance Insurance and Financial Services Inc. For a complete description of each risk factor, please refer to Section 7.9 of the IAG Savings and Retirement Plan Information Folder. FOCUS FUNDS FOCUS PRUDENT FUND Risk: All risks Investment Objectives Invests in units of a number of underlying funds to generate a regular longterm return by favouring Canadian fixedincome securities. Maintains a certain diversity of the investments that make up the portfolio using different asset classes such as fixedincome securities issued by Canadian governments and corporations, Canadian equities and foreign equities, and the integration of several managers. Investment Strategy The target allocation is in fixed income funds, 15% in Canadian equity funds, and 10% in global equity funds. The Fund is composed of underlying fund units selected by the manager to reach the investment objectives while remaining in line with the Fund s risk profile. FOCUS MODERATE FUND Risk: All risks Investment Objectives Invests in units of a number of underlying funds to generate a high longterm return by placing a slight emphasis on Canadian fixedincome securities. Maintains a certain diversity of the investments that make up the portfolio using different asset classes such as fixedincome securities issued by Canadian governments and corporations, Canadian equities and foreign equities, and the integration of several managers. Investment Strategy The target allocation is 60% in fixed income funds, 25% in Canadian equity funds, and 15% in global equity funds. The Fund is composed of underlying fund units selected by the manager to reach the investment objectives while remaining in line with the Fund s risk profile. FOCUS BALANCED FUND Risk: All risks Investment Objectives Invests in units of a number of underlying funds to generate a superior longterm return by favouring a balance between Canadian equities, foreign equities and fixedincome securities. Maintains a certain diversity of the investments that make up the portfolio using different asset classes such as fixedincome securities issued by Canadian governments and corporations, Canadian equities, foreign equities and the integration of several managers. Investment Strategy The target allocation is 45% in fixed income funds, 35% in Canadian equity funds, and 20% in global equity funds. The Fund is composed of underlying fund units selected by the manager to reach the investment objectives while remaining in line with the Fund s risk profile. FOCUS GROWTH FUND Risk: All risks Investment Objectives Invests in units of a number of underlying funds to generate a superior longterm return by placing a slight emphasis on Canadian and foreign equities. Maintains a certain diversity of the investments that make up the portfolio using different asset classes such as fixedincome securities issued by Canadian governments and corporations, Canadian equities, foreign equities and the integration of several managers. Investment Strategy The target allocation is 30% in fixed income funds, 45% in Canadian equity funds, and 25% in global equity funds. The Fund is composed of underlying fund units selected by the manager to reach the investment objectives while remaining in line with the Fund s risk profile. FOCUS AGGRESSIVE FUND Risk: All risks Investment Objectives Invests in units of a number of underlying funds to maximize the longterm return by favouring Canadian and foreign equities. Maintains a certain diversity of the investments that make up the portfolio using different asset classes such as fixedincome securities issued by Canadian governments and corporations, Canadian equities, foreign equities and the integration of several managers. Investment Strategy The target allocation is 15% in fixed income funds, 55% in Canadian equity funds, and 30% in global equity funds. The Fund is composed of underlying fund units selected by the manager to reach the investment objectives while remaining in line with the Fund s risk profile. 11

14 SELECTION FUNDS SELECTION PRUDENT FUND Risk: All risks Investment Objectives This fund primarily seeks to generate regular income and to preserve the capital by investing conservatively and mainly in income funds while also investing in equity funds. Investment Strategy The target asset mix is composed of income funds and 25% equity funds. Also, in order to pursue the investment objectives, underlying funds in which this fund invests could be withdrawn, replaced or added. This fund will be rebalanced at least once a year in order to be in line with the target allocation. SELECTION MODERATE FUND Risk: All risks Investment Objectives This fund seeks to generate regular income and offer the potential for capital growth over the long term by slightly favouring income funds over equity funds. Investment Strategy The target asset mix is composed of 60% income funds and 40% equity funds. Also, in order to pursue the investment objectives, underlying funds in which this fund invests could be withdrawn, replaced or added. This fund will be rebalanced at least once a year in order to be in line with the target allocation. SELECTION BALANCED FUND Risk: All risks Investment Objectives This fund seeks a balance between generating regular income and providing capital growth over the medium to long term by investing in income and equity funds. Investment Strategy The target asset mix is composed of 45% income funds and 55% equity funds. Also, in order to pursue the investment objectives, underlying funds in which this fund invests could be withdrawn, replaced or added. This fund will be rebalanced at least once a year in order to be in line with the target allocation. SELECTION GROWTH FUND Risk: All risks Investment Objectives This fund primarily seeks to provide capital growth over the medium to long term with equity funds while trying to generate regular income through income funds. Investment Strategy The target asset mix is composed of 30% income funds and 70% equity funds. Also, in order to pursue the investment objectives, underlying funds in which this fund invests could be withdrawn, replaced or added. This fund will be rebalanced at least once a year in order to be in line with the target allocation. SELECTION AGGRESSIVE FUND Risk: All risks Investment Objectives This fund primarily seeks to provide capital growth in the short and medium term by investing aggressively and mainly in equity funds. Investment Strategy The target asset mix is composed of 15% income funds and 85% equity funds. Also, in order to pursue the investment objectives, underlying funds in which this fund invests could be withdrawn, replaced or added. This fund will be rebalanced at least once a year in order to be in line with the target allocation. 12

15 INCOME FUNDS MONEY MARKET FUND Risk: I D Investment Objectives Aims to maintain excellent capital protection and a high level of liquidity, by investing in Canadian shortterm securities guaranteed by Canadian governments and certain companies. Investment Strategy The Money Market Fund is composed of quality securities with maturities under one year guaranteed by federal, provincial and municipal governments and their agencies. SHORT TERM BOND FUND Risk: I C D Investment Objectives Provides a reasonably high return by reinvesting the interest income in the Fund while ensuring capital protection. Mainly invests in bonds issued and guaranteed by Canadian governments and corporations. Investment Strategy The Short Term Bond Fund is mainly composed of bonds and other highquality debt securities with short and mediumterm maturities from the federal and provincial governments, and from corporations offering good income and capital security potential. BOND FUND Risk: I C D Investment Objectives Aims to maximize the returns from interest income and capital appreciation through a diversified portfolio primarily invested in quality bond securities from Canadian governments and corporations. Investment Strategy The Bond Fund is primarily invested in bonds, coupons and other high quality debt securities from the private sector and the federal and provincial governments. The selection of securities is mostly based on forecasting the evolution of interest rates on the market. CANADIAN CORPORATE BOND FUND Risk: I C $ E D L Investment Objectives Aims to maximize returns from interest income and capital appreciation through a diversified portfolio mainly composed of quality bond securities issued by corporations. Investment Strategy Invests primarily in fixedincome securities issued by Canadian companies, and may invest in foreign securities. The manager uses fundamental analysis to select investments and reviews the values of the investments on an ongoing basis, paying particular attention to credit quality and diversification by geographic region, industry sector, size of issuer and credit rating. STRATEGIC CORPORATE BOND FUND 1 Risk: I C $ D L Investment Objectives Provides income and the potential for long term capital growth by investing primarily in fixed income securities with an emphasis on corporate and other higher yielding fixed income securities. Investment Strategy Invests in units of the IA Clarington Strategic Corporate Bond Fund, which invests primarily in fixed income securities of North American companies. The advisor uses fundamental analysis to select investments and reviews the values of the investments on an ongoing basis, paying particular attention to credit quality and diversification by geographic region, industry sector, size of issuer and credit rating. FIDELITY AMERICAN HIGH YIELD CURENCY NEUTRAL FUND Risk: A I C $ E D L Investment Objectives Aims to provide income and the potential for long term capital growth by investing primarily in fixed income securities with an emphasis on corporate and other higher yielding fixed income securities. Investment Strategy Invests in units of the Fidelity American High Yield Fund, which invests primarily in higher yielding, lower quality fixed income securities, preferred stocks and convertible securities issued by U.S. companies. The Fund also uses derivatives to try to minimize the exposure to currency fluctuations between the U.S. and Canadian dollars. Fidelity American High Yield Currency Neutral Fund aims to hedge foreign currency exposure back to Canadian dollars, thus providing the benefit of the U.S market while reducing currency. 1 Fund closed to new investments 13

16 TACTICAL BOND FUND Risk: I C D L Investment Objectives Provides monthly interest income by investing primarily in fixedincome security, allocated among Canadian and other North American governmental and corporate issuers, and between investmentgrade and higheryielding securities. Investment Strategy Units of the IA Clarington Tactical Bond Fund, which will generally allocate its investments between two classes of debt instruments: debt instruments issued or guaranteed by Canadian federal, provincial and municipal governments and their agencies and debt instruments issued by North American corporate issuers, with a weighted average credit rating of BBB or higher. The underlying fund may also invest in higheryielding securities including corporate bonds that have a BB or lower rate credit quality or that are not rated. REAL RETURN BOND FUND 1 Risk: I C $ D L Investment Objectives Seeks to provide a regular level of income that is hedged against inflation by investing primarily in Canadian federal and provincial real return bonds that are indexed to the Canadian inflation rate. Investment Strategy Invests in units of the IA Clarington Real Return Bond Fund, which invests primarily in debts securities with maturities in excess of 5 years. The advisor seeks to add value through active management of duration, asset mix and yield curve. Fundamental economic analysis takes into consideration economic growth, inflation and fiscal and monetary policy. GLOBAL FIXED INCOME (PIMCO) FUND Risk: I C $ E M L D Investment Objectives The Fund aims to optimize current income by investing primarily in a diversified portfolio of fixed income securities that are not denominated in Canadian dollars. It targets moderate longterm capital appreciation. Investment Strategy The Fund invests primarily in a diversified portfolio of fixedincome securities that are not denominated in Canadian dollars and with a variety of maturities. It can invest up to 50% of its total assets in highyield securities ( high risk bonds ) that have been rated or, if they are not rated, in securities of comparable quality. The Fund can invest up to 20% of its total assets in securities and instruments that are economically linked to emerging markets. The Fund limits its exposure to currencies (of securities denominated in currencies other than the Canadian dollar) to 10% of its total assets. The Fund can also resort to targeted derivatives, such as options, futures and forward contracts, and swaps. DIVERSIFIED FUNDS 2 DIVERSIFIED SECURITY FUND Risk: All risks Investment Objectives Generates regular longterm revenues as well as some capital appreciation. It focuses on reducing risk through a careful selection of different categories of fixedincome securities from the federal and provincial governments and corporations as well as Canadian and foreign equities of large capitalization companies. Investment Strategy The Diversified Security Fund s strategy is based on active and prudent management of the investment through careful diversification of the asset classes (equities and fixedincome securities). The Fund advisor pursues a balance between security and capital growth, and typically favours fixedincome securities. DIVERSIFIED FUND Risk: All risks Investment Objectives Maximizes the longterm returns and reduces the risk through a balanced distribution of investments among the Fund s asset classes: fixedincome securities, Canadian equities and foreign equities. The equity portion is mainly invested in securities equities of large capitalization companies. Investment Strategy The Diversified Fund s assets are distributed among Canadian and foreign equities and fixedincome securities to meet the Fund s longterm return objective. Active management is designed to target the ideal combination of growth and security based on trends in the economy and the financial markets. 1 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 2 Diversified Funds entail all risks because of the variety of securities that make up the Funds. However, the diversification of assets greatly limits the impact of such risks since these assets do not react in the same direction to financial market movements. Therefore, some securities will be negatively influenced while others will be positively influenced by particular market movements. 14

17 DIVERSIFIED OPPORTUNITY FUND Risk: All risks Investment Objectives Maximizes longterm returns while minimizing risks through careful diversification of the asset classes: Canadian fixedincome securities, Canadian equities and foreign equities. The fund mainly invests in equities of large capitalization companies and fixedincome securities. Investment Strategy The strategy focuses on a distribution of the assets between Canadian and foreign equities, and fixedincome securities. The advisor typically favours equities over fixedincome securities but has aboveaverage flexibility in terms of asset allocation in order to position the fund in a situation that will be beneficial given the trends in the economy and the financial markets. CANADIAN BALANCED (QV) FUND Risk: All risks Investment Objectives Aims to achieve capital appreciation and income with a focus on preserving the value of the original capital by investing primarily in a portfolio of Canadian equity and fixedincome investments. Investment Strategy Invests in units of the IA Clarington Canadian Balanced (QV) Fund, which normally invests in a mix of shortterm, high quality bonds, preferred shares and largercap common stocks to lower volatility in the portfolio and ensure longterm growth. The mix of bonds and stocks is adjusted to reflect the potential returns of the assets. The Fund may also invest in foreign securities. SRI BALANCED (INHANCE) FUND Risk: All risks Investment Objectives Generates interest and dividend income as well as capital appreciation by investing in an underlying fund that meets the advisor s socially responsible investment principles, with a balanced holding in bond and equity funds. Investment Strategy Invests in units of the IA Clarington Inhance Balanced SRI Portfolio, which normally invests in fixed income and also Canadian and global equity funds. The Fund advisor will consider the style employed by the underlying fund to determine whether it invests in companies with progressive social, environmental and governance practices. DIVERSIFIED INCOME FUND Risk: A I $ Investment Objectives Generates a regular longterm return by investing mostly in trust units, common stocks and fixedincome securities from Canadian corporations and Canadian governments. The common stock portion mainly invests in equities of large capitalization Canadian companies. Investment Strategy Invests primarily in a diversified portfolio of income trusts such as oil, gas and other commoditybased royalty trusts, real estate investment trusts, pipeline and power trusts, common stocks and fixedincome instruments. STRATEGIC INCOME FUND Risk: All risks Investment Objectives Provides a consistent stream of income and capital appreciation by investing primarily in Canadian equity and fixed income investments. Investment Strategy Invests in units of the IA Clarington Strategic Income Fund, which invests primarily in Canadian equity and fixed income securities. The advisor employs a rigorous bottomup strategy with a 12 to 18 month strategic outlook on the markets with a view to invest in a stable mix of income producing equity and fixed income securities demonstrating strong fundamentals while aiming to minimize volatility through all market conditions. GLOBAL DIVERSIFIED (LOOMIS SAYLES) FUND 1 Risk: All risks Investment Objectives Aims to provide longterm capital appreciation by investing primarily in equity securities, fixedincome investments and money market instruments from around the world. Investment Strategy Invests in units of the IA Clarington Global Tactical Income Fund, which mainly invests in global fixedincome and equity securities following a fundamental bottomup approach to investing. 1 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 15

18 TACTICAL INCOME FUND Risk: All risks Investment Objectives Aims to achieve a high longterm total investment return. The Fund s objective is to seek to achieve a steady flow of monthly income by investing primarily in trust units, equity securities and fixedincome securities of Canadian issuers. Investment Strategy Invests in units of the IA Clarington Tactical Income Fund. The Fund will generally seek to invest approximately twothirds of its portfolio in equity securities and trust units and approximately onethird of its portfolio in fixedincome securities, cash and cash equivalents. GLOBAL DIVERSIFIED FIXED INCOME (FORSTRONG) FUND Risk: All risks Investment Objectives Provides income and longterm capital appreciation primarily through diversified investments in both domestic and foreign incomeoriented and equity exchange traded funds ( ETF ). Fixed income securities are preferred. Investment Strategy The portfolio manager actively manages the Fund s asset mix based on its longterm macroeconomic outlook and shorterterm tactical strategies. The manager determines the relative desirability of asset classes and specific ETFs on an ongoing basis by grading them based on criteria such as, but not limited to, fundamental factors and conditions, quantitative ratings, qualitative assessments and risk/return characteristics. GLOBAL DIVERSIFIED (FORSTRONG) FUND Risk: All risks Investment Objectives Aims to provide longterm capital appreciation and modest income primarily through diversified investments in both domestic and foreign equity and incomeoriented exchange traded funds ( ETF ). Investment Strategy The portfolio manager actively manages the Fund s asset mix based on its longterm macroeconomic outlook and shorterterm tactical strategies. The manager determines the relative desirability of asset classes and specific ETFs on an ongoing basis by grading them based on criteria such as, but not limited to, fundamental factors and conditions, quantitative ratings, qualitative assessments and risk/return characteristics. GLOBAL DIVERSIFIED EQUITY (FORSTRONG) FUND Risk: All risks Investment Objectives Provides longterm capital appreciation and income primarily through diversified investments in both domestic and foreign equity and incomeoriented exchange traded funds ( ETF ). Equity securities are preferred. Investment Strategy The portfolio manager actively manages the Fund s asset mix based on its longterm macroeconomic outlook and shorterterm tactical strategies. The manager determines the relative desirability of asset classes and specific ETFs on an ongoing basis by grading them based on criteria such as, but not limited to, fundamental factors and conditions, quantitative ratings, qualitative assessments and risk/return characteristics. FIDELITY GLOBAL MONTHLY INCOME FUND Risk: All risks Investment Objectives Invests in units of an underlying fund that aims to achieve longterm capital growth and modest income. This fund invests primarily in fixedincome and equity securities of companies anywhere in the world. Investment Strategy The Fund invests in units of the Fidelity Global Monthly Income Fund. The Fund is invested in a well diversified portfolio of fixedincome securities and equities of companies operating around the world. 16

19 CANADIAN HYBRID FUNDS STRATEGIC EQUITY INCOME HYBRID 75/25 FUND Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Risk: A I C D Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. DIVIDEND GROWTH HYBRID 75/25 FUND Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Risk: A I C D Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. CANADIAN CONSERVATIVE EQUITY HYBRID 75/25 FUND Risk: A I M C D Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. CANADIAN EQUITY INDEX HYBRID 75/25 FUND Risk: A I C D R Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. SELECT CANADIAN HYBRID 75/25 FUND 1 Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Risk: A I C D Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. CANADIAN EQUITY VALUE HYBRID 75/25 FUND Risk: A I E $ C D Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. 1 Only available in nonregistered contracts 2 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 17

20 CANADIAN EQUITY (TAYLOR AM) HYBRID 75/25 FUND 2 Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Risk: A I C D Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. FIDELITY TRUE NORTH HYBRID 75/25 FUND Risk: A I E $ C D Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. CANADIAN EQUITY GROWTH HYBRID 75/25 FUND Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Risk: A I C D Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. FIDELITY CANADIAN OPPORTUNITIES HYBRID 75/25 FUND 1 Risk: A $ AS I C E D Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. CANADIAN EQUITY SMALL CAP (QV) HYBRID 75/25 FUND 1 Risk: A $ AS I C E D Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. GLOBAL HYBRID FUNDS GLOBAL DIVIDEND (DYNAMIC) HYBRID 75/25 FUND Risk: A $ I C E D Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. 1 Funds closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 18

21 GLOBAL EQUITY HYBRID 75/25 FUND Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Risk: All risks Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. GLOBAL EQUITY (TEMPLETON) HYBRID 75/25 FUND Risk: A $ E I C D Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. GLOBAL OPPORTUNITIES (RADIN) HYBRID 75/25 FUND 1 Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Risk: All risks Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. GLOBAL TRUE CONVICTION HYBRID 75/25 FUND Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Risk: All risks Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. FIDELITY NORTHSTAR HYBRID 75/25 FUND Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Risk: All risks Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. U.S. EQUITY (SARBIT) CURRENCY NEUTRAL HYBRID 75/25 FUND 1 Investment Objectives This Fund aims to achieve capital growth and interest income by investing in a combination of equity and bond funds. Risk: All risks Investment Strategy The investment strategy is to invest approximately of the Fund in a corresponding equity fund and the remaining 25% in the Bond Fund offered by Industrial Alliance Insurance and Financial Services Inc. A periodic rebalancing process will allow the Fund s assets to remain in proximity of the 25% target weighting. 1 Funds closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 19

22 CANADIAN EQUITY FUNDS STRATEGIC EQUITY INCOME FUND Risk: A D Investment Objectives Invests in an underlying fund which aims to generate modest longterm growth and regular dividend and interest income subject to the preferential tax treatment given to dividends. Invests mainly in highyield quality dividend common and preferred shares of Canadian companies. Investment Strategy Invest in units of the IA Clarington Strategic Equity Income Fund, which invests primarily in high quality dividendpaying common and preferred shares of Canadian and foreign corporations, income trust units and/or fixed income securities of Canadian and U.S. issuers. The investment advisor employs a rigorous bottomup strategy with a 12 to 18 month strategic outlook on the markets with a view to invest in income producing equities demonstrating strong fundamentals. The underlying fund may invest up to 49% of its assets in foreign securities. DIVIDEND GROWTH FUND Risk: A D Investment Objectives Invests in an underlying fund which aims to generate regular dividends that will be reinvested in the Fund while seeking longterm capital growth. The fund is mostly composed of stocks of Canadian blue chip style companies. Mainly invests in equities of large capitalization companies. Investment Strategy The Fund invests in units of the IA Clarington Dividend Growth Fund, which is mainly composed of common and preferred shares of large Canadian blue chip style companies with a substantial capital appreciation and good payment of dividends. CANADIAN CONSERVATIVE EQUITY FUND Risk: A I M Investment Objectives Invests in units of an underlying fund which aims to achieve longterm capital growth through investments in Canadian preferred and common shares. It is the policy of the Fund to provide its unitholders with diversification through investments in securities of companies representing many classes of industry. Securities are selected for the purpose of deriving income, protecting the value of investments and achieving longterm capital appreciation. Mainly invests in equities of large capitalization companies. Investment Strategy Units of the IA Clarington Canadian Conservative Equity Fund, which is actively managed by Leon Frazer & Associates Inc. The advisor selects the securities of companies based on strong financials, history of and prospects for increasing dividends and reasonable value. CANADIAN EQUITY INDEX FUND Risk: A D R Investment Objectives The fund aims to obtain high longterm capital appreciation by attempting to reproduce the return of the S&P/TSX 60 Index, which represents the 60 largest companies in Canada. Investment Strategy The Fund invests in units of an underlying fund, which is primarily composed of trust units of the S&P/TSX 60 Index. SELECT CANADIAN FUND 1 Risk: A D Investment Objectives Provides capital growth and maximum tax deferral by holding longterm stocks from mostly large capitalization Canadian companies. Investment Strategy The Select Canadian Fund is mainly composed of common stocks of attractively priced large Canadian companies, several of which are found on the S&P/TSX 60 Index. Sales transactions are limited to favour tax deferral, often called buy and hold. 1 Only available in nonregistered contracts 20

23 CANADIAN EQUITY VALUE FUND Risk: A $ E D Investment Objectives Aims to generate high capital appreciation over the long term mainly through diversified investments in Canadian equities. Moreover, the Fund mainly invests in equities of large capitalization companies. Investment Strategy The Canadian Equity Value Fund is actively managed in order to profit from the equity market sectors that have the best growth potential based on the major economic trends. The advisor selects the securities of companies that meet strict criteria of soundness, profitability and stability: an approach characterized by a valuebased investment style. CANADIAN EQUITY (TAYLOR AM) FUND Risk: A D Investment Objectives Achieve longterm capital appreciation by investing mainly in a welldiversified portfolio of equities of Canadian companies. Investment Strategy The Canadian Equity (Taylor AM) Fund is mainly composed of common stocks from solid, attractively priced Canadian companies that are well positioned in their respective industries. FIDELITY TRUE NORTH FUND Risk: A $ E D Investment Objectives Invests in units of an underlying fund to seek longterm capital growth by investing mainly in equities of Canadian companies, across all market sectors and market capitalizations. Investment Strategy Invests in units of the Fidelity True North Fund. The Fund invests in fundamentally sound companies that are undervalued by the market. The advisor seeks companies that consistently increase their revenues, operating cash flow and investment opportunities. CANADIAN EQUITY GROWTH FUND Risk: A D Investment Objectives Obtain an increase in capital over the long term by investing mainly in equities of large capitalization Canadian companies which demonstrate aboveaverage growth potential. Investment Strategy The investment strategy is to invest in a welldiversified portfolio of Canadian companies with good growth prospects. Therefore, the selection process favours companies that demonstrate characteristics such as good profit growth as well as superior growth of sales and superior return on equity. Moreover, risk management is an important component of the investment process. FIDELITY CANADIAN OPPORTUNITIES FUND Risk: A $ AS E D Investment Objectives Invests in units of an underlying fund that pursues longterm capital appreciation by investing mainly in the stocks of smaller and midsize Canadian companies that are poised for growth over a market cycle. A variable portion of the Fund may be allocated to international assets to take advantage of geographic diversification without affecting the foreign content limit for RRSPs. Mainly invests in small capitalization Canadian companies. Investment Strategy Invests in units of the Fidelity Canadian Opportunities Fund. The Fund advisor selects stocks using Fidelity s traditional bottomup investment approach. The advisor seeks fundamentally solid companies that continue to improve their value. These are typically strong, earningsbased companies that are just starting a growth phase or those that appear to have significant earnings potential. 21

24 CANADIAN EQUITY SMALL CAP (QV) FUND Risk: A $ E AS D Investment Objectives Aims to achieve longterm capital appreciation by primarily investing in the stocks of smaller and midsize Canadian companies. Investment Strategy Invests in units of the IA Clarington Canadian Small Cap Fund. The Fund invests primarily in equities of smaller and midsize Canadian companies. The fund may also invest in foreign securities, generally less than 30% of the Fund s book value. U.S. & INTERNATIONAL EQUITY FUNDS GLOBAL DIVIDEND (DYNAMIC) FUND Risk: A $ E D Investment Objectives Invests in units of an underlying fund to provide longterm capital growth through investments in a broadly diversified portfolio consisting primarily of equity securities of businesses located around the world. Investment Strategy Invests in units of the Dynamic Global Dividend Value Fund, which is primarily invested in equity securities of businesses located around the world that have current or anticipated dividend policies which the portfolio advisor believes are an indicator of longterm growth potential. GLOBAL EQUITY FUND Risk: All risks Investment Objectives Seeks to generate high longterm added value by investing primarily in a welldiversified portfolio of equities in companies located throughout the world. Investment Strategy Invests in units of the IA Clarington Global Value Fund. The Fund invests primarily in common stocks of companies throughout the world. The Fund is composed of a selection of company securities that offer good growth potential and attractive value, from various global financial markets. GLOBAL EQUITY (TEMPLETON) FUND Risk: A $ E D Investment Objectives Invests in units of an underlying fund to provide high longterm capital appreciation by investing mainly in equities of largemedium capitalization companies around the world. Investment Strategy Invests in units of the Templeton Master TrustSeries 1 Fund, invested primarily in common shares of companies located anywhere in the world. The Fund is composed of a selection of lowpriced, highquality securities from various global financial markets. GLOBAL OPPORTUNITIES (RADIN) FUND Investment Objectives Seeks long term capital appreciation by investing in equity securities of companies around the world. Risk: All risks Investment Strategy Invests in units of the IA Clarington Global Opportunities Fund. The advisor selects investments of any market capitalization from many different industries and countries to enhance returns and reduce risks with an emphasis for undervalued companies through fundamental, bottomup research, and typically holds those companies for three or four years. 22

25 GLOBAL TRUE CONVICTION FUND Risk: All risks Investment Objectives Invests in an equity portfolio that aims to achieve high total investment return by investing primarily in equity securities of companies of which approximately one third are located in Canada, one third in the United states and one third in the Europe/Asia region. Investment Strategy The Fund advisor will seek to build a fairly diversified portfolio of approximately 45 securities including roughly 15 securities in each of the 3 geographic regions it will invest in (Canada, United States, Europe/Asia). The 3 subportfolios will be managed by different portfolio managers that will aim to include their highest conviction investment ideas in each subportfolio. Risk management criterias will however ensure proper sector diversification. FIDELITY GLOBAL CONCENTRATED EQUITY FUND Risk: All risks Investment Objectives Invests in units of an underlying fund that aims to achieve longterm capital growth. This fund invests primarily in equity securities of companies anywhere in the world. Investment Strategy The Fund invests in units of the Fidelity Global Concentrated Equity Fund. The Fund is invested in a well diversified portfolio of equities of companies operating around the world. The Fund s active management aims to achieve an absolute positive return. FIDELITY NORTHSTAR FUND Risk: All risks Investment Objectives Invests in units of an underlying fund that aims to achieve longterm capital growth. This fund invests primarily in equity securities of companies anywhere in the world. Investment Strategy The Fund invests in units of the Fidelity NorthStar Fund. The Fund is invested in a well diversified portfolio of equities of companies operating around the world. The Fund s active management aims to achieve an absolute positive return. INTERNATIONAL EQUITY INDEX (BLACKROCK) FUND Risk: I $ E D R Investment Objectives Invests in units of an underlying fund that aims to provide high longterm capital appreciation by investing in securities in the index to reproduce the return of the Morgan Stanley Capital International EAFE Index (MSCI EAFE Index). Mainly invests in the securities of large capitalization companies that operate in Europe, Australasia and the Far East. Investment Strategy Invests in units of the BGICL Daily EAFE Equity Index Fund, which is made up of securities that are included in the MSCI EAFE Index. Passive management of this fund is designed to reproduce, as accurately as possible, the return of the index, converted into Canadian dollars, over a medium and longterm horizon. INTERNATIONAL EQUITY FUND Risk: All risks Investment Objectives The goal is to generate added value in the long term by investing in a welldiversified portfolio of equities in primarily medium and large capitalization companies located outside North America. Investment Strategy The Fund is composed of a selection of quality international equities with good growth potential and attractive value, in companies located outside North America. Active management of the Fund relies on a Growth at a Reasonable Price approach. INTERNATIONAL EQUITY (TEMPLETON) FUND Risk: A $ E D Investment Objectives Invests in units of an underlying fund that aims to ensure longterm capital appreciation through investments in stocks of large and medium capitalization companies located outside of North America. Investment Strategy Invests in units of Templeton International Stock Trust which is comprised of a selection of lowpriced, superior quality international equity securities from the financial markets of a large number of countries excluding North America. Active management of the fund is characterized by a valuebased investment strategy.. 23

26 FIDELITY EUROPEAN EQUITY FUND Risk: A $ E D Investment Objectives Invests in units of an underlying fund that aims to provide longterm capital appreciation by mainly investing in equities of large capitalization companies from continental Europe and the United Kingdom. Investments are made primarily in the member countries of the European Economic Community and the European Free Trade Association. Investment Strategy Invests in units of the Fidelity European Equity Fund invested primarily in companies from continental Europe and the United Kingdom. The advisor generally constructs the portfolio stock by stock and follows industries more closely than countries U.S. EQUITY INDEX (BLACKROCK) FUND Risk: A $ R Investment Objectives Investing in units of an underlying fund in order to grow the medium and longterm capital of a widelydiversified American equity portfolio which reproduces the returns of the Standard & Poor s 500 index. This index is comprised mainly of shares from largecap companies. Investment Strategy Units of the BlackRock CDN U.S. Equity Index Fund, category D, which comprises equity securities that reproduce the return of the Standard & Poor s index. The purpose of passive management is to reproduce as closely as possible the index return converted into Canadian dollars. U.S. EQUITY FUND Risk: All risks Investment Objectives Seeks to generate longterm capital growth by investing primarily in a diversified portfolio of equities in quality U.S. companies. Invests in companies of all capitalizations with an emphasis on largecapitalization companies. Investment Strategy The Fund invests primarily in the equity securities of largecapitalization U.S. companies with solid financial statements. The manager seeks to produce superior returns and looks for securities which can be purchased at a reasonable price and which he believes will offer a consistent increase in earnings. U.S. EQUITY CURRENCY NEUTRAL FUND Risk: All risks Investment Objectives Seeks to generate longterm capital growth by investing primarily in a diversified portfolio of equities in quality U.S. companies. Invests in companies of all capitalizations with an emphasis on largecapitalization companies and in derivatives to minimize currency exposure. Investment Strategy Invests in units of the U.S. Equity Fund, which invests primarily in the equity securities of largecapitalization U.S. companies with solid financial statements. The manager seeks to produce superior returns and looks for securities which can be purchased at a reasonable price and which he believes will offer a consistent increase in earnings. The Fund also uses derivatives to try to minimize exposure to currency fluctuations between developedmarket foreign currencies and the Canadian dollar. U.S. DIVIDEND GROWTH FUND Risk: A $ E D Investment Objectives Invests in units of an underlying fund which provides high longterm capital appreciation by primarily investing in stocks of high performing U.S. companies. Mainly invests in equities of large capitalization companies. Investment Strategy Invests in units of the IA Clarington U.S. Dividend Growth Fund, which mainly invests in large U.S. capitalization equity securities companies with solid financial statements. The advisor selects the securities he anticipates will provide consistent growth in profits. U.S. EQUITY (SARBIT) CURRENCY NEUTRAL FUND Risk: All risks Investment Objectives Invests in units of an underlying fund that aims to provide capital preservation and appreciation by investing primarily in a select number of U.S. equities. Investment Strategy Invests in units of the IA Clarington Sarbit U.S. Equity Fund which invests in a select number of publicly traded equity securities, mainly common shares of various U.S. companies. The advisor seeks to achieve the Fund s fundamental investment objective by investing in quality businesses. It will hold an investment as long as it expects the value of the business to increase at a satisfactory rate. 24

27 SPECIALTY FUNDS ASIAN PACIFIC (DYNAMIC) FUND Risk: A $ E M AS Investment Objectives Invests in units of an underlying fund to obtain maximum longterm capital growth by investing primarily in equities of companies located in the entire Pacific region including Japan. Mainly invests in equities of large capitalization companies. Investment Strategy Units of the Dynamic Asia Pacific Equity Fund which is comprised of a selection of equities of companies located in the entire Pacific region including Japan. Companies with a sustainable competitive advantage where growth is not fully reflected in the price are selected. EMERGING MARKETS (MACKENZIE) FUND Risk: A $ E M AS Investment Objectives Invests in units of an underlying fund which seeks longterm capital appreciation by investing primarily in equities of companies in emerging markets. The Fund may also invest in companies that trade in emerging markets or that trade elsewhere in the world and earn at least 50% of their revenue from production or sales in emerging markets. The fund may invest in companies of any size. Investment Strategy Units of Mackenzie Emerging Markets Opportunities Class Fund, which is mostly invested in a selection of companies located around the world having commercial activities in emerging markets. GLOBAL HEALTH CARE (RENAISSANCE) FUND Risk: A $ E D Investment Objectives Invests in units of an underlying fund to seek longterm capital appreciation by investing mainly in medium and large capitalization companies engaged in the design, development, manufacturing and distribution of products or services in the healthcare sector. Investment Strategy Units of the Renaissance Global Health Care Fund. The approach is to shift assets of the Fund into subsectors of the healthcare field with a better potential for future performance. Within each subsector, focus is on bottomup stock selection using value management filters to identify portfolio candidates. There is also a fundamental approach to understanding the science and technology behind a prospective company s products and services. REAL ESTATE INCOME FUND Risk: A I C M L D Investment Objectives Invests in units of an underlying fund to generate a regular longterm income by mainly investing in trust units of Canadian companies and shortterm fixedincome securities issued and guaranteed by the federal and provincial governments as well as Canadian corporations. Investment Strategy Invests primarily in trust units, mostly real estate trust units, preferred securities and some shortterm fixedincome securities. U.S. DAQ INDEX FUND Risk: A $ E D R Investment Objectives Invests in units of an underlying fund that provides high longterm capital appreciation through investments that reproduce the return of the NASDAQ 100 Index of the U.S. Stock Exchange. Investment Strategy The Fund invests in units of the PowerShares QQQ TM, which seeks to replicate the NASDAQ 100 Index of the U.S. Stock Exchange. Passive management of this Fund aims to reproduce, as accurately as possible, the return of the index, converted into Canadian dollars, over a medium and longterm horizon. This index is characterized by the securities of companies that offer promising products and services such as telecommunications equipment, computer services, hightechnology products, etc. INDEXIA FUNDS INDEXIA PRUDENT FUND Risk: All risks Investment Objectives Invests in units of a number of underlying index funds to generate a regular longterm return by favouring fixedincome securities. Maintains a certain diversity of the investments that make up the portfolio using different asset classes such as Canadian and foreign fixedincome securities, Canadian equities and foreign equities, and the integration of several managers. Investment Strategy The target allocation is 70% in fixed income funds and 30% in equity funds. The Fund is composed of underlying index fund units selected by the manager to reach the investment objectives while remaining in line with the Fund s risk profile. 25

28 INDEXIA MODERATE FUND Risk: All risks Investment Objectives Invests in units of a number of underlying index funds to generate a regular longterm return by favouring a balance between fixedincome securities and equities. Maintains a certain diversity of the investments that make up the portfolio using different asset classes such as Canadian and foreign fixedincome securities, Canadian equities and foreign equities, and the integration of several managers. Investment Strategy The target allocation is 55% in fixed income funds and 45% in equity funds. The Fund is composed of underlying index fund units selected by the manager to reach the investment objectives while remaining in line with the Fund s risk profile. INDEXIA BALANCED FUND Risk: All risks Investment Objectives Invests in units of a number of underlying index funds to generate a regular longterm return with a slight emphasis on equities. Maintains a certain diversity of the investments that make up the portfolio using different asset classes such as Canadian and foreign fixedincome securities, Canadian equities and foreign equities, and the integration of several managers. Investment Strategy The target allocation is 40% in fixed income funds and 60% in equity funds. The Fund is composed of underlying index fund units selected by the manager to reach the investment objectives while remaining in line with the Fund s risk profile. INDEXIA GROWTH FUND Risk: All risks Investment Objectives Invests in units of a number of underlying index funds to generate a regular longterm return with an emphasis on equities. Maintains a certain diversity of the investments that make up the portfolio using different asset classes such as Canadian and foreign fixedincome securities, Canadian equities and foreign equities, and the integration of several managers. Investment Strategy The target allocation is 25% in fixed income funds and in equity funds. The Fund is composed of underlying index fund units selected by the manager to reach the investment objectives while remaining in line with the Fund s risk profile. INDEXIA AGGRESSIVE FUND Risk: All risks Investment Objectives Invests in units of a number of underlying index funds to generate a regular longterm return with a strong emphasis on equities. Maintains a certain diversity of the investments that make up the portfolio using different asset classes such as Canadian and foreign fixedincome securities, Canadian equities and foreign equities, and the integration of several managers. Investment Strategy The target allocation is 10% in fixed income funds and 90% in equity funds. The Fund is composed of underlying index fund units selected by the manager to reach the investment objectives while remaining in line with the Fund s risk profile. FORLIFE SERIES FUNDS INCOME STAGE FORLIFE GUARANTEED MAXIMUM INCOME FUND Risk: I C M AS L D Investment Objectives This fund seeks to preserve capital and provide sustainable income by investing primarily in fixed income securities with an emphasis on corporate and other higher yielding private placements. Investment Strategy The fund employs a disciplined assetliability matching strategy to match the fund s investments to the expected future income needs of the fund s investors. The fund is monitored and rebalanced at the discretion of the Manager to ensure continuous alignment and to ensure that it remains consistent with its objectives. The Fund primarily invests in Canadian and US corporate debt securities with currency hedging, private placements, as well as government debt securities. FORLIFE GUARANTEED INCOME & GROWTH FUND Risk: A $ I C E R D Investment Objectives This fund seeks to provide sustainable income and achieve some longterm growth through a conservatively balanced distribution of investments among the fund s asset classes: Canadian fixedincome securities and equities, and foreign equities. Investment Strategy The fund s assets are distributed among Canadian fixedincome securities and equities, and foreign equities. The fund is monitored and rebalanced at the discretion of the Manager to ensure that it remains consistent with its objectives. The fund s equity exposure is primarily achieved through equity Index funds, and its fixedincome exposure is achieved by investing in units of a fund composed of bonds, coupons and other high quality debt securities from the private sector and the federal and provincial governments. 26

29

30 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $206.7 million Number of Units Outstanding: 11,030,760 Portfolio Turnover Rate: 11.29% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which mainly invest in Canadian fixedincome securities. The underlying funds may invest in Canadian equities and foreign equities. Top investments Industrial Alliance Bond Fund % Dynamic Value Fund of Canada, Series O 5.08% Industrial Alliance Canadian Equity Growth Fund 5.07% Industrial Alliance Global Equity Fund 4.18% Industrial Alliance Global Equity (Templeton) Fund 4.05% Industrial Alliance Canadian Equity Value Fund 2.56% Industrial Alliance Canadian Equity (Taylor AM) Fund 2.50% Industrial Alliance Global Equity Small Cap (Deutsche AWM) Fund 2.06% Other Assets 0.03% Total % Total investments: 8 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FOCUS PRUDENT FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $21.46 Classic Series 75/75 Prestige % $21.58 Series 75/ % $21.17 Series 75/100 Prestige % $21.36 Ecoflex Series 100/ % $21.17 FORLIFE Series 2.88% $21.17 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks a regular longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,225 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,225. This works out to an average return of 2.95% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 9 years and down in value 1 year. % For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 For details on the Industrial Alliance Bond Fund top investments refer to the corresponding Fund facts included in this document 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

31 FOCUS PRUDENT FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.56% 2.33% 2.76% 2.47% 2.88% 2.88% Fund Fee Rate 0.10% 0.10% 0.25% 0.10% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca 29

32 Date of first offer under IAG SRP: January 4, Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $288.5 million Number of Units Outstanding: 14,474,781 Portfolio Turnover Rate: 5.23% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which are placing a slight emphasis on Canadian fixedincome securities. The underlying funds may also invest in Canadian equities and foreign equities. Top investments Industrial Alliance Bond Fund % Dynamic Value Fund of Canada, Series O 8.43% Industrial Alliance Canadian Equity Growth Fund 8.42% Industrial Alliance Global Equity Fund 6.26% Industrial Alliance Global Equity (Templeton) Fund 6.06% Industrial Alliance Canadian Equity Value Fund 4.25% Industrial Alliance Canadian Equity (Taylor AM) Fund 4.14% Industrial Alliance Global Equity Small Cap (Deutsche AWM) Fund 3.08% Other Assets 0.03% Total % Total investments: 8 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FOCUS MODERATE FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $23.12 Classic Series 75/75 Prestige % $23.25 Series 75/ % $22.75 Series 75/100 Prestige % $22.95 Ecoflex Series 100/ % $22.74 FORLIFE Series 2.99% $22.74 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks a high longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 For details on the Industrial Alliance Bond Fund top investments refer to the corresponding Fund facts included in this document 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,268. This works out to an average return of 3.46% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. %

33 FOCUS MODERATE FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.61% 2.38% 2.81% 2.57% 2.99% 2.99% Fund Fee Rate 0.10% 0.10% 0.40% 0.10% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 31 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

34 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $477.3 million Number of Units Outstanding: 22,972,565 Portfolio Turnover Rate: 5.21% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which are favoring a balance between Canadian equities, foreign equities and fixedincome securities. Top investments Industrial Alliance Bond Fund % Dynamic Value Fund of Canada, Series O 11. Industrial Alliance Canadian Equity Growth Fund 11. Industrial Alliance Global Equity Fund 8.31% Industrial Alliance Global Equity (Templeton) Fund 8.05% Industrial Alliance Canadian Equity Value Fund 5.92% Industrial Alliance Canadian Equity (Taylor AM) Fund 5.78% Industrial Alliance Global Equity Small Cap (Deutsche AWM) Fund 4.09% Other Assets 0.03% Total % Total investments: 8 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FOCUS BALANCED FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $24.73 Classic Series 75/75 Prestige % $24.86 Series 75/ % $24.31 Series 75/100 Prestige % $24.54 Ecoflex Series 100/ % $24.29 FORLIFE Series 3.07% $24.29 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to generate a superior longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 For details on the Industrial Alliance Bond Fund top investments refer to the corresponding Fund facts included in this document 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,310. This works out to an average return of 3.94% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. %

35 FOCUS BALANCED FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.65% 2.43% 2.85% 2.62% 3.07% 3.07% Fund Fee Rate 0.10% 0.10% 0.40% 0.25% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca 33

36 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $157.1 million Number of Units Outstanding: 7,248,676 Portfolio Turnover Rate: 7.39% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FOCUS GROWTH FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $26.31 Classic Series 75/75 Prestige % $26.44 Series 75/ % $25.82 Series 75/100 Prestige % $26.03 Ecoflex Series 100/ % $25.80 FORLIFE Series 3.16% $25.80 WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which are placing a slight emphasis on Canadian and foreign equities. Top investments Industrial Alliance Bond Fund 29.45% Dynamic Value Fund of Canada, Series O 15.06% Industrial Alliance Canadian Equity Growth Fund 15.05% Industrial Alliance Global Equity Fund 10.35% Industrial Alliance Global Equity (Templeton) Fund 10.02% Industrial Alliance Canadian Equity Value Fund 7.58% Industrial Alliance Canadian Equity (Taylor AM) Fund 7.40% Industrial Alliance Global Equity Small Cap (Deutsche AWM) Fund 5.09% Total % Total investments: 8 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to generate a superior longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,351. This works out to an average return of 4.39% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. %

37 FOCUS GROWTH FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to Industrial Alliance. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.70% 2.52% 2.90% 2.72% 3.16% 3.16% Fund Fee Rate 0.10% 0.10% 0.50% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 35 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

38 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $60.6 million Number of Units Outstanding: 2,677,818 Portfolio Turnover Rate: 9.12% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which are favoring Canadian and foreign equities. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FOCUS AGGRESSIVE FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $27.96 Classic Series 75/75 Prestige % $28.11 Series 75/ % $27.39 Series 75/100 Prestige % $27.62 Ecoflex Series 100/ % $27.38 FORLIFE Series 3.21% $27.38 Top investments Dynamic Value Fund of Canada, Series O 18.33% Industrial Alliance Canadian Equity Growth Fund 18.31% Industrial Alliance Bond Fund 14.66% Industrial Alliance Global Equity Fund 12.37% Industrial Alliance Global Equity (Templeton) Fund 11.98% Industrial Alliance Canadian Equity Value Fund 9.23% Industrial Alliance Canadian Equity (Taylor AM) Fund 9.00% Industrial Alliance Global Equity Small Cap (Deutsche AWM) Fund 6.09% Other Assets 0.03% Total % Total investments: 8 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to maximize the longterm return invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,395. This works out to an average return of 4.87% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. % 40 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

39 FOCUS AGGRESSIVE FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.74% 2.54% 3.04% 2.84% 3.21% 3.21% Fund Fee Rate 0.20% 0.20% 0.65% 0.50% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 37 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

40 Date of first offer under IAG SRP: December 2, 2013 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $102.2 million Number of Units Outstanding: 8,923,620 Portfolio Turnover Rate: 34.52% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests conservatively in units of a number of underlying funds which emphasize investments in Canadian fixedincome investments. The underlying funds also invest in Canadian equities and foreign equities. Top 10 investments Industrial Alliance Bond Fund % Industrial Alliance Money Market Fund 7.37% IA Clarington Dividend Growth Class, Series I 6.98% IA Clarington Strategic Corporate Bond Fund, Series I 6.95% IA Clarington Canadian Conservative Equity Fund, Series I 6.33% Industrial Alliance International Equity Fund 4.39% IA Clarington Canadian Small Cap Fund, Series I 4.10% Industrial Alliance U.S. Equity Fund 2.74% IA Clarington Sarbit U.S. Equity Fund, Series I 1.58% IA Clarington Global Opportunities Fund, Series I 1.51% Other Assets 0.08% Total % Total investments: 10 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks a regular longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan SELECTION PRUDENT FUND Information as at December 31, 2017 QUICK FACTS HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,152. This works out to an average return of 3.54% a year. YEARBYYEAR RETURNS This chart shows how the segregated fund has performed for the last 4 years. In this period, the fund was up in value 4 years and down in value 0 year(s). % 8 Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $11.52 Classic Series 75/75 Prestige % $11.57 Series 75/ % $11.41 Series 75/100 Prestige % $11.51 Ecoflex Series 100/ % $11.41 FORLIFE Series 2.80% $11.41 Investment segmentation 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 For details on the Industrial Alliance Bond Fund top investments refer to the corresponding Fund facts included in this document 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

41 SELECTION PRUDENT FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.54% 2.38% 2.74% 2.38% 2.80% 2.80% Fund Fee Rate 0.10% 0.10% 0.25% 0.10% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 39 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

42 Date of first offer under IAG SRP: December 2, 2013 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $173.7 million Number of Units Outstanding: 14,901,086 Portfolio Turnover Rate: 32.04% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which slightly emphasize investments in Canadian fixedincome investments. The underlying funds also invest in Canadian equities and foreign equities. Top 10 investments Industrial Alliance Bond Fund % IA Clarington Dividend Growth Class, Series I 9.01% Industrial Alliance Money Market Fund 7.97% IA Clarington Canadian Conservative Equity Fund, Series I 7.81% IA Clarington Strategic Corporate Bond Fund, Series I 6.94% IA Clarington Canadian Small Cap Fund, Series I 6.12% Industrial Alliance International Equity Fund 6.09% Industrial Alliance U.S. Equity Fund 5.11% IA Clarington Sarbit U.S. Equity Fund, Series I 4.10% IA Clarington Global Opportunities Fund, Series I 2.76% Other Assets 0.06% Total % Total investments: 10 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks a high longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 For details on the Industrial Alliance Bond Fund top investments refer to the corresponding Fund facts included in this document 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan SELECTION MODERATE FUND Information as at December 31, 2017 QUICK FACTS HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,175. This works out to an average return of 4.03% a year. YEARBYYEAR RETURNS This chart shows how the segregated fund has performed for the last 4 years. In this period, the fund was up in value 4 years and down in value 0 year(s). % Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $11.75 Classic Series 75/75 Prestige % $11.80 Series 75/ % $11.61 Series 75/100 Prestige % $11.71 Ecoflex Series 100/ % $11.61 FORLIFE Series 2.90% $11.61 Investment segmentation

43 SELECTION MODERATE FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.61% 2.46% 2.81% 2.52% 2.90% 2.90% Fund Fee Rate 0.10% 0.10% 0.40% 0.10% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 41 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

44 Date of first offer under IAG SRP: December 2, 2013 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $222.0 million Number of Units Outstanding: 18,423,187 Portfolio Turnover Rate: 23.17% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which emphasize a balance between investments in Canadian fixedincome investments, Canadian equities and foreign equities. Top 10 investments Industrial Alliance Bond Fund 29.17% IA Clarington Dividend Growth Class, Series I 13.74% IA Clarington Canadian Conservative Equity Fund, Series I 9.95% Industrial Alliance U.S. Equity Fund 7.46% IA Clarington Canadian Small Cap Fund, Series I 7.29% Industrial Alliance Money Market Fund 7.28% IA Clarington Sarbit U.S. Equity Fund, Series I 7.08% IA Clarington Strategic Corporate Bond Fund, Series I 6.85% Industrial Alliance International Equity Fund 6.09% IA Clarington Global Opportunities Fund, Series I 4.97% Other Assets 0.12% Total % Total investments: 10 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to generate a superior longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan SELECTION BALANCED FUND Information as at December 31, 2017 QUICK FACTS HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,216. This works out to an average return of 4.90% a year. YEARBYYEAR RETURNS This chart shows how the segregated fund has performed for the last 4 years. In this period, the fund was up in value 4 years and down in value 0 year(s). % Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $12.16 Classic Series 75/75 Prestige % $12.21 Series 75/ % $12.01 Series 75/100 Prestige % $12.11 Ecoflex Series 100/ % $12.00 FORLIFE Series 3.00% $12.00 Investment segmentation

45 SELECTION BALANCED FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.69% 2.52% 2.89% 2.59% 3.00% 3.00% Fund Fee Rate 0.10% 0.10% 0.40% 0.25% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 43 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

46 Date of first offer under IAG SRP: December 2, 2013 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $94.1 million Number of Units Outstanding: 7,636,381 Portfolio Turnover Rate: 38.88% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of a number of underlying funds which slightly emphasize investments in Canadian equities and foreign equities. The underlying funds also invest in Canadian fixedincome investments. Top 10 investments IA Clarington Dividend Growth Class, Series I 16.62% Industrial Alliance Bond Fund 12.09% IA Clarington Canadian Conservative Equity Fund, Series I 12.07% Industrial Alliance U.S. Equity Fund 10. IA Clarington Sarbit U.S. Equity Fund, Series I 9.52% IA Clarington Canadian Small Cap Fund, Series I 9.47% Industrial Alliance International Equity Fund 9.13% Industrial Alliance Money Market Fund 8.31% IA Clarington Strategic Corporate Bond Fund, Series I 6.80% IA Clarington Global Opportunities Fund, Series I 5.19% Other Assets 0.05% Total % Total investments: 10 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to generate a superior longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan SELECTION GROWTH FUND Information as at December 31, 2017 QUICK FACTS HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,245. This works out to an average return of 5.52% a year. YEARBYYEAR RETURNS This chart shows how the segregated fund has performed for the last 4 years. In this period, the fund was up in value 4 years and down in value 0 year(s). % Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $12.45 Classic Series 75/75 Prestige % $12.50 Series 75/ % $12.28 Series 75/100 Prestige % $12.38 Ecoflex Series 100/ % $12.28 FORLIFE Series 3.12% $12.28 Investment segmentation

47 SELECTION GROWTH FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.78% 2.65% 2.98% 2.76% 3.12% 3.12% Fund Fee Rate 0.10% 0.10% 0.50% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 45 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

48 Date of first offer under IAG SRP: December 2, 2013 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $24.8 million Number of Units Outstanding: 1,979,687 Portfolio Turnover Rate: 60.62% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests aggressively in units of a number of underlying funds which emphasize investments in Canadian equities and foreign equities. The underlying funds also invest in Canadian fixedincome investments. Top 10 investments IA Clarington Dividend Growth Class, Series I 17.61% Industrial Alliance International Equity Fund 13.31% IA Clarington Sarbit U.S. Equity Fund, Series I 12.58% IA Clarington Canadian Small Cap Fund, Series I 12.14% Industrial Alliance U.S. Equity Fund 11.44% IA Clarington Canadian Conservative Equity Fund, Series I 11.29% IA Clarington Global Opportunities Fund, Series I 7.35% Industrial Alliance Bond Fund 6.72% Industrial Alliance Money Market Fund 4.55% IA Clarington Strategic Corporate Bond Fund, Series I 2.92% Other Assets 0.09% Total % Total investments: 10 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to maximize the longterm return invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan SELECTION AGGRESSIVE FUND Information as at December 31, 2017 QUICK FACTS HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,268. This works out to an average return of 5.99% a year. YEARBYYEAR RETURNS This chart shows how the segregated fund has performed for the last 4 years. In this period, the fund was up in value 4 years and down in value 0 year(s). % 10.0 Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $12.68 Classic Series 75/75 Prestige % $12.76 Series 75/ % $12.49 Series 75/100 Prestige % $12.60 Ecoflex Series 100/ % $12.49 FORLIFE Series 3.20% $12.49 Investment segmentation For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

49 SELECTION AGGRESSIVE FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.84% 2.56% 3.14% 2.85% 3.20% 3.20% Fund Fee Rate 0.20% 0.20% 0.65% 0.50% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 47 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

50 Date of first offer under IAG SRP: January 2, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $334.7 million Number of Units Outstanding: 16,861,833 Portfolio Turnover Rate: Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in Canadian shortterm securities guaranteed by Canadian governments and certain companies. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan MONEY MARKET FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $17.38 Classic Series 75/75 Prestige % $17.38 Series 75/ % $17.36 Series 75/100 Prestige % $17.37 Ecoflex Series 100/ % $17.36 FORLIFE Series 1.65% $17.36 Top 10 investments Government of Canada, 1.208%, % Government of Canada, 1.079%, % Government of Canada, 1.083%, % Government of Canada, 1.043%, % Government of Canada, 0.947%, % Government of Canada, 0.920%, % Government of Canada, 0.989%, % Government of Canada, 1.209%, % Government of Canada, 0.961%, % Government of Canada, 1.219%, % Total 99.53% Total investments: 13 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks interest income and preservation of capital invests with very low risk tolerance is planning to invest for the short term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,011. This works out to an average return of 0.16% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 10 years and down in value 0 year(s). % Investment segmentation

51 MONEY MARKET FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 1.38% 1.37% 1.58% 1.57% 1.65% 1.65% Fund Fee Rate 0.10% 0.10% 0.25% 0.10% TRAILING COMMISSION Each month, Industrial Alliance pays a trailing commission of up to 0.025% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 49 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

52 Date of first offer under IAG SRP: January 2, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $333.6 million Number of Units Outstanding: 15,291,773 Portfolio Turnover Rate: % Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund mainly invests in bonds issued and guaranteed by Canadian governments and corporations. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan SHORT TERM BOND FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $20.23 Classic Series 75/75 Prestige % $20.31 Series 75/ % $20.05 Series 75/100 Prestige % $20.16 Ecoflex Series 100/ % $20.05 FORLIFE Series 2.37% $20.05 Top 10 investments Province of Ontario, 4.200%, % Province of Quebec, 4.500%, % Canada Housing Trust, 2.000%, % Province of Quebec, 4.250%, % Province of Quebec, 3.500%, % HydroQuébec, Coupons, 0.000%, % Merrill Lynch, 1.366%, % Government of Canada, 1.000%, % Province of Ontario, 2., % Canada Housing Trust, 2.400%, % Total 39.12% Total investments: 131 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks a reasonably high return and capital protection invests with low risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,032. This works out to an average return of 0.46% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. % Investment segmentation 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

53 SHORT TERM BOND FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.17% 1.98% 2.37% 2.17% 2.37% 2.37% Fund Fee Rate 0.10% 0.10% 0.25% 0.10% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.04% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 51 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

54 Date of first offer under IAG SRP: January 2, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $ million Number of Units Outstanding: 29,250,352 Portfolio Turnover Rate: % Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund is composed primarily of quality bond securities from Canadian governments and corporations. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan BOND FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $34.10 Classic Series 75/75 Prestige % $34.24 Series 75/ % $33.78 Series 75/100 Prestige % $33.95 Ecoflex Series 100/ % $33.78 FORLIFE Series 2.38% $33.78 Top 10 investments Industrial Alliance Canadian Corporate Bond Fund % Province of Ontario, 4.200%, % Canada Housing Trust, 2.400%, % Province of Ontario, 6.500%, % Government of Canada, 1.000%, % Canada Housing Trust, 1.500%, % Government of Canada, Real Return Bond, 1.500%, % Province of Quebec, 4.250%, % Province of British Columbia, 5.700%, % Canada Housing Trust, 2.350%, % Total 64.09% Total investments: 105 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to maximize the returns from interest income and capital appreciation invests with low risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 For details on the Industrial Alliance Canadian Corporate Bond Fund top investments refer to the corresponding Fund facts included in this document 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,173. This works out to an average return of 2.30% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 9 years and down in value 1 year. % Investment segmentation

55 HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. BOND FUND Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.15% 1.98% 2.35% 2.15% 2.38% 2.38% Fund Fee Rate 0.10% 0.10% 0.25% 0.10% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.04% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 53 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

56 Date of first offer under IAG SRP: May 16, 2016 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $ million Number of Units Outstanding: 154,322,876 Portfolio Turnover Rate: % Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? The Fund invests primarily in fixedincome securities issued by Canadian and foreign companies. The FTSE TMX Canada Corporate Bond Index is used as a guide to structure the Fund and select investments. Top 10 investments CIBC Capital Trust, Fixed Floating Rate, 9.976%, % NBC Asset Trust, Fixed Floating Rate, 7.447%, % NBC Capital Trust, Fixed Floating Rate, 7.235%, % BMO Capital Trust, Fixed Floating Rate, %, % Royal Bank of Canada, 2.333%, % ishares iboxx $ Investment Grade Corporate Bond ETF 1.94% Enbridge Pipelines Inc., 4.490%, % Royal Bank of Canada, 1.650%, % Inter Pipeline Ltd., 3.448%, % Bank of Montreal, 1.610%, % Total 20.19% Total investments: 126 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN CORPORATE BOND FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $10.31 Classic Series 75/75 Prestige % $10.34 Series 75/ % $10.27 Series 75/100 Prestige % $10.32 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to maximize returns from interest income and capital appreciation invests with belowaverage risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,005. This works out to an average return of 0.29% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 7 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 6 years and down in value 1 year. % For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

57 CANADIAN CORPORATE BOND FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.12% 1.92% 2.32% 2.07% Fund Fee Rate 0.10% 0.10% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.04% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 55 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

58 Date of first offer under IAG SRP: January 16, 2012 Portfolio Advisor: IA Clarington Investments Inc. Total Fund Value: $245.4 million Number of Units Outstanding: 18,798,723 Portfolio Turnover Rate: 0.00% Minimum Investment: $25 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks income and the potential for capital appreciation invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high QUICK FACTS WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Strategic Corporate Bond fund, which primarily invests in fixed income securities with an emphasis on corporate and other higher yielding fixed income securities. Top 10 investments of the underlying fund Superior Plus LP, 6.500%, % Russel Metals Inc., 6.000%, % Great Canadian Gaming Corp., 6.625%, % Garda World Security Corp., Issued on November 2013, 7.250%, % Alliance Grain Traders Inc., 5.8, % Parkland Fuel Corp., 5.500%, % Dynagas LNG Partners LP, 6.250%, % First Quantum Minerals Ltd., 7.000%, % Quebecor Media Inc., 6.625%, % Mattamy Group Corp., 6.500%, % Total 20.47% Total investments: 132 High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 Fund closed to new investments 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan STRATEGIC CORPORATE BOND FUND 2 Information as at December 31, Investment segmentation of the underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,324. This works out to an average return of 4.83% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. % Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $13.24 Classic Series 75/75 Prestige % $13.29 Series 75/ % $13.06 Series 75/100 Prestige % $13.10 Ecoflex Series 100/ % $13.06 FORLIFE Series 2.47% $

59 STRATEGIC CORPORATE BOND FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.17% 2.02% 2.37% 2.22% 2.47% 2.47% Fund Fee Rate 0.10% 0.10% 0.25% 0.10% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.04% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 57 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

60 Date of first offer under IAG SRP: June 15, 2015 Portfolio Advisor: Fidelity Investments Total Fund Value: $21.8 million Number of Units Outstanding: 2,014,804 Portfolio Turnover Rate: 24.24% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FIDELITY AMERICAN HIGH YIELD CURRENCY NEUTRAL FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $10.80 Classic Series 75/75 Prestige % $10.85 Series 75/ % $10.72 Series 75/100 Prestige % $10.77 WHAT DOES THIS FUND INVEST IN? The Fund invests primarily in higher yielding, lower quality fixed income securities, preferred stocks and convertible securities issued by U.S. companies. Top 10 investments of the principal underlying fund APX Group Inc., 8.750%, Ally Financial Inc., 8.000%, Energy Finder Inc. Prime Securities Ltd. Ally Financial Inc., 5.750%, Intelsat Term B3, APX Group Inc., 7.8, Citigroup Inc. Dynegy Inc. Solera Capital LLC Top 10 holdings represents 11.21% of the principal underlying fund s net assets. Total investments: 518 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: plan to hold his investment for the longterm want to gain exposure to high yield securities is seeking income from his investment and the potential for capital gains. HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,083. This works out to an average return of 3.18% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. % 50 Investment segmentation of the underlying fund For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

61 FIDELITY AMERICAN HIGH YIELD CURRENCY NEUTRAL FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.59% 2.41% 2.79% 2.61% Fund Fee Rate 0.10% 0.10% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.04% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 59 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

62 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: IA Clarington Investments Inc. Total Fund Value: $76.2 million Number of Units Outstanding: 6,909,671 Portfolio Turnover Rate: 10.51% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan TACTICAL BOND FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $11.17 Classic Series 75/75 Prestige % $11.20 Series 75/ % $11.04 Series 75/100 Prestige % $11.09 Ecoflex Series 100/ % $11.03 FORLIFE Series 2.49% $11.03 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Tactical Bond Fund, which mainly invests in fixedincome security, allocated among Canadian and other North American governmental and corporate issuers, and between investmentgrade and higheryielding securities. Top 10 investments of the underlying fund IA Clarington Floating Rate Income Fund, Series I 9.24% TransAlta Corporation, 6.400%, % Wells Fargo & Co., 3.874%, % General Electric Co., Fixed Floating Rate, 5.000%, % Concentra Financial Services Association, 1.545%, % Reliance LP, 5.187%, Golub Capital Partners CLO 17 Ltd., Floating Rate, 3.416%, % Champion Diversified Bond Inc., %, % NBC Asset Trust, Fixed Floating Rate, 7.447%, % Royal Bank of Canada, 1.968%, % Total 35.17% Total investments: 63 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks regular monthly income invests with low risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,117. This works out to an average return of 1.59% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 7 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 6 years and down in value 1 year. % Investment segmentation of the underlying fund

63 TACTICAL BOND FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.23% 2.10% 2.43% 2.26% 2.49% 2.49% Fund Fee Rate 0.10% 0.10% 0.25% 0.10% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.04% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 61 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

64 Date of first offer under IAG SRP: January 16, 2012 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $8.5 million Number of Units Outstanding: 937,416 Portfolio Turnover Rate: 1.08% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Real Return Bond fund, which primarily invests in Canadian federal and provincial real return bonds that are indexed to the Canadian inflation rate. Top investments of the underlying fund Government of Canada, Real Return Bond, 2.000%, % Government of Canada, Real Return Bond, 1.500%, % Government of Canada, Real Return Bond, 4.250%, % Government of Canada, Real Return Bond, 4.250%, % Government of Canada, Real Return Bond, 4.000%, % Government of United States, Real Return Bond, 0.125%, % Government of Canada, 0.948%, % Total 99. Total investments: 20 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan REAL RETURN BOND FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $9.19 Classic Series 75/75 Prestige % $9.24 Series 75/ % $9.07 Series 75/100 Prestige % $9.14 Ecoflex Series 100/ % $9.07 FORLIFE Series % $9.07 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks regular income invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $919. This works out to an average return of 1.41% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 9 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 6 years and down in value 3 years. %

65 REAL RETURN BOND FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.19% 1.94% 2.39% 2.14% 2.48% 2.48% Fund Fee Rate 0.10% 0.10% 0.25% 0.10% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.04% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 63 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

66 Date of first offer under IAG SRP: October 20, 2014 Portfolio Advisor: PIMCO Total Fund Value: $312.3 million Number of Units Outstanding: 24,871,344 Portfolio Turnover Rate: 3.93% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? The fund invests in units of the PIMCO Monthly Income Fund (Canada) which invests primarily in a diversified portfolio of fixedincome securities that are not denominated in Canadian dollars and with a variety of maturities. Top 10 investments of the underlying fund U.S. Treasury Notes, 2.250%, % U.S. Treasury Notes, 2.130%, % U.S. Treasury Notes, 2.250%, % Japan Treasury Bills, (0.250%), % Energy Future Intermediate Holding Co. LLC (Coupon: 4.501% 4.569%), % Fannie Mae, TBA, 3.500%, % Brazil Letras do Tesouro Nacional, % Brazil Letras do Tesouro Nacional, % Fannie Mae, TBA, 4.000%, % Canada Treasury Bills, 0.950%, % Total % Total investments: 2,119 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL FIXED INCOME (PIMCO) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $12.02 Classic Series 75/75 Prestige % $12.09 Series 75/ % $11.93 Series 75/100 Prestige % $11.97 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks income and the potential for capital appreciation seeks to diversify a traditionally invested fixed income portfolio has a medium to longterm investment horizon HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,118. This works out to an average return of 3.55% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 6 years and down in value 0 year. %

67 GLOBAL FIXED INCOME (PIMCO) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.52% 2.25% 2.72% 2.58% Fund Fee Rate 0.10% 0.10% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.04% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 65 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

68 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $762.0 million Number of Units Outstanding: 28,971,521 Portfolio Turnover Rate: % Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests through a careful selection of different categories of fixedincome securities from the federal and provincial governments and corporations as well as Canadian and foreign equities of large capitalization companies. Top 10 investments Industrial Alliance Canadian Corporate Bond Fund 18.21% Industrial Alliance International Equity Fund 7.02% Government of Canada, 0.922%, % IA Clarington U.S. Dividend Growth Fund, Series I 5.97% ishares 13 Year Treasury Bond ETF 4.85% Industrial Alliance Short Term Bond Fund 4.82% Industrial Alliance Dividend Fund 3.97% Industrial Alliance Canadian Equity Growth Fund 3.47% BMO Laddered Preferred Share Index ETF 3.19% PowerShares DB Commodity Index Tracking Fund 3.01% Total 60.92% Total investments: 260 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan DIVERSIFIED SECURITY FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $30.51 Classic Series 75/75 Prestige % $30.65 Series 75/ % $29.99 Series 75/100 Prestige % $30.24 Ecoflex Series 100/ % $29.97 FORLIFE Series 3.01% $29.97 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks regular longterm revenues as well as some capital protection invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,278. This works out to an average return of 3.57% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 9 years and down in value 1 year. % For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

69 DIVERSIFIED SECURITY FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.62% 2.44% 2.82% 2.63% 3.01% 3.01% Fund Fee Rate 0.10% 0.10% 0.25% 0.10% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 67 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

70 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $ million Number of Units Outstanding: 46,852,729 Portfolio Turnover Rate: % Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests through a balanced distribution of investments among the fund s asset classes: fixedincome securities, Canadian equities and foreign equities. The equity portion is mainly invested in securities equities of large capitalization companies. Top 10 investments Industrial Alliance International Equity Fund 11.92% Industrial Alliance Canadian Corporate Bond Fund 10.77% Government of Canada, 0.922%, % Industrial Alliance Global True Conviction Fund 4.25% Industrial Alliance Short Term Bond Fund 3.98% Industrial Alliance Canadian Equity Small Cap Fund 3.79% IA Clarington U.S. Dividend Growth Fund, Series I 3.68% Industrial Alliance Dividend Fund 3.39% Industrial Alliance US Equity (Currency Unhedged) Fund 3.03% BMO Laddered Preferred Share Index ETF 2.91% Total 52.56% Total investments: 306 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan DIVERSIFIED FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $49.89 Classic Series 75/75 Prestige % $50.32 Series 75/ % $49.07 Series 75/100 Prestige % $49.64 Ecoflex Series 100/ % $49.05 FORLIFE Series 3.02% $49.05 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to maximize a longterm return with low risks invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,375. This works out to an average return of 4.66% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. % For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

71 HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. DIVERSIFIED FUND Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.64% 2.26% 2.84% 2.46% 3.02% 3.02% Fund Fee Rate 0.10% 0.10% 0.40% 0.25% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 69 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

72 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $628.8 million Number of Units Outstanding: 20,704,144 Portfolio Turnover Rate: % Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests through careful diversification of Canadian fixedincome securities, Canadian equities and foreign equities. The fund mainly invests in equities of large capitalization companies and fixedincome securities. Top 10 investments Industrial Alliance International Equity Fund 10.56% Industrial Alliance US Equity (Currency Unhedged) Fund 8.07% Industrial Alliance Canadian Corporate Bond Fund 6.86% Industrial Alliance Canadian Equity Growth Fund 6.21% Industrial Alliance Dividend Fund 5.95% Industrial Alliance Global True Conviction Fund 5.63% Industrial Alliance Thematic Selection Fund 5.37% Industrial Alliance Short Term Bond Fund 5.19% Government of Canada, 1.059%, % ishares S&P/TSX 60 Index Fund 4.45% Total 62.86% Total investments: 249 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan DIVERSIFIED OPPORTUNITY FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $38.58 Classic Series 75/75 Prestige % $38.93 Series 75/ % $37.97 Series 75/100 Prestige % $38.46 Ecoflex Series 100/ % $37.96 FORLIFE Series 3.02% $37.96 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to maximize longterm returns while minimizes risks invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,379. This works out to an average return of 4.70% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. %

73 DIVERSIFIED OPPORTUNITY FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.66% 2.25% 2.86% 2.42% 3.02% 3.02% Fund Fee Rate 0.10% 0.10% 0.50% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 71 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

74 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: QV Investors Inc. Total Fund Value: $189.8 million Number of Units Outstanding: 12,935,818 Portfolio Turnover Rate: 6.20% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Canadian Balanced Fund which normally invests in a portfolio of Canadian equity and fixedincome investments. Top 10 investments of the underlying fund Loblaw Companies Ltd. 3.15% Canadian Imperial Bank of Commerce 3.10% Power Financial Corp. 2.68% Province of Ontario, 2.600%, % SNCLavalin Group Inc. 2.42% Bank of Nova Scotia 2.42% Government of Canada, 1.059%, % CGI Group Inc., SV 2.21% Canadian Natural Resources Ltd. 2.20% The TorontoDominion Bank 2.03% Total 25.07% Total investments: 85 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN BALANCED (QV) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $15.12 Classic Series 75/75 Prestige % $15.20 Series 75/ % $14.73 Series 75/100 Prestige % $14.86 Ecoflex Series 100/ % $14.72 FORLIFE Series 3.16% $14.72 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks capital appreciation and income invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,341. This works out to an average return of 4.29% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. % 40 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

75 CANADIAN BALANCED (QV) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.56% 2.33% 2.76% 2.53% 3.16% 3.16% Fund Fee Rate 0.10% 0.10% 0.50% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 73 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

76 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Vancity Total Fund Value: $34.1 million Number of Units Outstanding: 2,308,155 Portfolio Turnover Rate: 6.44% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Inhance Balanced SRI portfolio which is normally a diversified portfolio of mutual funds that meet the manager s socially responsible investment principles, with a balanced holding of income, bond and equity funds. Top investments of the underlying fund IA Clarington Inhance Bond SRI Fund, Series I 39.89% IA Clarington Inhance Global Equity SRI Class, Series I 23.78% IA Clarington Inhance Canadian Equity SRI Class, Series I 17.98% IA Clarington Inhance Monthly Income SRI Fund, Series I 17.96% Other Assets 0.39% Total % Total investments: 4 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan SRI BALANCED (INHANCE) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $15.12 Classic Series 75/75 Prestige % $15.17 Series 75/ % $14.90 Series 75/100 Prestige % $15.06 Ecoflex Series 100/ % $14.89 FORLIFE Series 3.14% $14.89 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks capital appreciation and income is looking for socially responsible investment principles invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,372. This works out to an average return of 4.63% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 8 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 1 year. %

77 SRI BALANCED (INHANCE) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.77% 2.66% 2.97% 2.61% 3.14% 3.14% Fund Fee Rate 0.10% 0.10% 0.50% 0.25% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 75 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

78 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $453.4 million Number of Units Outstanding: 15,043,168 Portfolio Turnover Rate: % Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests mostly in trust units, common stocks and fixedincome securities from Canadian corporations and Canadian governments to generate a regular longterm return. The common stock portion mainly invests in equities of large capitalization Canadian companies. Top 10 investments Industrial Alliance Dividend Fund 14.13% Industrial Alliance International Equity Fund 10.03% Industrial Alliance Canadian Equity All Cap Value 9.33% Industrial Alliance Canadian Corporate Bond Fund 7.99% Government of Canada, 1.059%, % IA Clarington U.S. Dividend Growth Fund, Series I 5.25% Industrial Alliance Global True Conviction Fund 3.30% Industrial Alliance Thematic Selection Fund 3.26% BMO Laddered Preferred Share Index ETF 3.21% Industrial Alliance Canadian Equity Small Cap Fund 3.10% Total 65.45% Total investments: 280 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan DIVERSIFIED INCOME FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $33.81 Classic Series 75/75 Prestige % $34.15 Series 75/ % $33.17 Series 75/100 Prestige % $33.61 Ecoflex Series 100/ % $33.15 FORLIFE Series 3.10% $33.15 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks regular longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,409. This works out to an average return of 5.03% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. % For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

79 DIVERSIFIED INCOME FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.70% 2.24% 2.90% 2.44% 3.10% 3.10% Fund Fee Rate 0.10% 0.10% 0.50% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 77 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

80 Date of first offer under IAG SRP: January 4, 2012 Portfolio Advisor: IA Clarington Investments Inc. Total Fund Value: $119.4 million Number of Units Outstanding: 8,448,724 Portfolio Turnover Rate: 3.40% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan STRATEGIC INCOME FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $14.34 Classic Series 75/75 Prestige % $14.48 Series 75/ % $13.94 Series 75/100 Prestige % $14.10 Ecoflex Series 100/ % $13.92 FORLIFE Series 3.18% $13.92 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Strategic Income Fund, which primarily invests in Canadian equity and fixed income investments. Top 10 investments of the underlying fund Manulife Financial Corp. 2.55% Enbridge Gas Distribution Inc., 1.506%, % Canadian Imperial Bank of Commerce 2.32% Brookfield Asset Management Inc. 2.31% Unilever, NV 2.23% Waste Connections Inc. 2.21% Royal Bank of Canada 2.10% Loblaw Companies Ltd. 2.09% Enmax Corp., 1.351%, % TELUS Corp. 1.94% Total 22.04% Total investments: 143 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks a flow of income and the potential for capital appreciation invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. Investment segmentation of the underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,434. This works out to an average return of 6.24% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. %

81 STRATEGIC INCOME FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.53% 2.07% 2.73% 2.27% 3.18% 3.18% Fund Fee Rate 0.10% 0.10% 0.50% 0.25% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 79 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

82 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Loomis, Sayles & Company Total Fund Value: $102.1 million Number of Units Outstanding: 6,866,206 Portfolio Turnover Rate: 7.36% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL DIVERSIFIED (LOOMIS SAYLES) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $16.08 Classic Series 75/75 Prestige % $16.16 Series 75/ % $15.69 Series 75/100 Prestige % $15.83 Ecoflex Series 100/ % $15.68 FORLIFE Series % $15.68 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Global Tactical Income Fund, which primarily invests in equity securities, fixedincome investments and money market instruments from around the world. Top 10 investments of the underlying fund Alibaba Group Holding Ltd., Sponsored ADR 3.44% The SherwinWilliams Co. 3.12% AIA Group Ltd. 2.97% Roper Technologies Inc. 2.82% Facebook Inc. 2.80% Marriott International, Inc., Class A 2.78% Nestlé SA 2.26% Danaher Corp. 2.07% Alphabet Holding Company Inc. 2.04% Northrop Grumman Corp. 2.03% Total 26.33% Total investments: 357 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,415. This works out to an average return of 5.09% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. % Investment segmentation of the underlying fund

83 GLOBAL DIVERSIFIED (LOOMIS SAYLES) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.63% 2.42% 2.83% 2.62% 3.20% 3.20% Fund Fee Rate 0.10% 0.10% 0.50% 0.25% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 81 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

84 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: IA Clarington Investments Inc. Total Fund Value: $24.2 million Number of Units Outstanding: 1,288,325 Portfolio Turnover Rate: 11.10% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan TACTICAL INCOME FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $19.23 Classic Series 75/75 Prestige % $19.34 Series 75/ % $18.73 Series 75/100 Prestige % $18.88 Ecoflex Series 100/ % $18.71 FORLIFE Series 3.15% $18.71 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Tactical Income Fund, which primarily invests in trust units, equity securities and fixedincome securities of Canadian issuers. Top 10 investments of the underlying fund NovaCore Communities Corp., Pfd., Class C 3.10% HCA Inc., 5.3, % Loblaw Companies Ltd. 2.44% Waste Connections Inc. 2.39% Videotron Ltd., 5.750%, % Manulife Financial Corp. 2.22% Brookfield Asset Management Inc. 2.22% Unilever, NV 2.19% Fortis Inc. 2.14% Netflix Inc., 5.8, % Total 23.81% Total investments: 123 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks a flow of income and the potential for capital appreciation invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,230. This works out to an average return of 3.01% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 9 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 2 years. % 40 Investment segmentation of the underlying fund 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

85 TACTICAL INCOME FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.52% 2.29% 2.72% 2.49% 3.15% 3.15% Fund Fee Rate 0.10% 0.10% 0.50% 0.25% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 83 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

86 Date of first offer under IAG SRP: December 4, 2017 Portfolio Advisor: Forstrong Global Asset Management Total Fund Value: $1.9 million Number of Units Outstanding: 147,861 Portfolio Turnover Rate: 3.42% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? The Fund invests in an ETF portfolio to gain exposure to various asset classes including, but not limited to: global equities, investmentgrade fixedincome securities and higher yielding incomeoriented securities. Moreover, the Fund will typically maintain a bias towards fixed income securities. The Fund may also invest in ETFs to gain exposure to real estate, commodities, foreign currencies and other investment opportunities. Top 10 investments of the underlying fund Investment segmentation of the underlying fund Vanguard Total Bond Market ETF 15.64% SPDR Barclays Short Term International Treasury Bond ETF 7.57% ishares International Treasury Bond ETF 6.99% Vanguard FTSE Developed Markets ETF 6.42% SPDR Barclays Investment Grade Floating Rate ETF 6.34% ishares JP Morgan EM Local Currency Bond ETF 6.15% ishares J.P. Morgan USD Emerging Markets Bond ETF 6.14% Vanguard Global exu.s. Real Estate ETF 6.03% Powershares Senior Loan Portfolio 5.78% Vanguard High Dividend Yield ETF 5.54% Total 72.60% Total investments: 15 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks regular longterm revenues as well as some capital appreciation invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL DIVERSIFIED FIXED INCOME (FORSTRONG) Information as at December 31, 2017 QUICK FACTS High Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $9.91 Classic Series 75/75 Prestige % $9.91 Series 75/ % $9.91 Series 75/100 Prestige % $9.92 HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN Performance data cannot be published for funds that have been in existence for less than 1 year. YEARBYYEAR RETURNS Performance data cannot be published for funds that have been in existence for less than 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 84

87 GLOBAL DIVERSIFIED FIXED INCOME (FORSTRONG) HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.80% 2.64% 3.00% 2.84% Fund Fee Rate 0.10% 0.10% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 85 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

88 Date of first offer under IAG SRP: May 16, 2016 Portfolio Advisor: Forstrong Global Asset Management Total Fund Value: $57.8 million Number of Units Outstanding: 5,060,627 Portfolio Turnover Rate: 95.73% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL DIVERSIFIED (FORSTRONG) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $11.42 Classic Series 75/75 Prestige % $11.44 Series 75/ % $11.35 Series 75/100 Prestige % $11.40 WHAT DOES THIS FUND INVEST IN? The Fund invests in an ETF portfolio to gain exposure to various asset classes including, but not limited to: global equities, investmentgrade fixedincome securities and higher yielding incomeoriented securities. The Fund may also invest in ETFs to gain exposure to real estate, commodities, foreign currencies and other investment opportunities. Top 10 investments of the underlying fund ishares Core S&P 500 ETF 20.79% Vanguard Total Bond Market ETF 9.67% Vanguard FTSE Europe ETF 8.67% ishares International Treasury Bond ETF 8.33% Vanguard FTSE Pacific ETF 6.89% SPDR Barclays Investment Grade Floating Rate ETF 5.47% SPDR Barclays Short Term International Treasury Bond ETF 3.85% Vanguard FTSE Emerging Markets ETF 2.98% ishares MSCI Europe Imi Index 2.81% The Health Care Select Sector SPDR Fund (XLV) 2.13% Total 71.59% Total investments: 24 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation invests with a belowaverage risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,143. This works out to an average return of 8.56% a year. YEARBYYEAR RETURNS This chart shows how the segregated fund has performed for the last year. In this period, the fund was up in value 1 year and down in value 0 year(s). %

89 GLOBAL DIVERSIFIED (FORSTRONG) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.74% 2.60% 2.94% 2.80% Fund Fee Rate 0.10% 0.10% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 87 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

90 Date of first offer under IAG SRP: December 4, 2017 Portfolio Advisor: Forstrong Global Asset Management Total Fund Value: $1.5 million Number of Units Outstanding: 280,443 Portfolio Turnover Rate: 6.20% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? The Fund invests in an ETF portfolio to gain exposure to various asset classes including, but not limited to: global equities, investmentgrade fixedincome securities and higher yielding incomeoriented securities. Moreover, the Fund will typically maintain a bias towards equity securities. The Fund may also invest in ETFs to gain exposure to real estate, commodities, foreign currencies and other investment opportunities. Top 10 investments of the underlying fund Investment segmentation of the underlying fund ishares Core S&P 500 ETF 27.62% Vanguard FTSE Europe ETF 10.41% Vanguard FTSE Pacific ETF 8.49% Vanguard Total Bond Market ETF 3.71% Vanguard FTSE Emerging Markets ETF 3.67% SPDR Barclays Investment Grade Floating Rate ETF 3.51% ishares MSCI Europe Imi Index 3.46% ishares International Treasury Bond ETF 3.04% The Health Care Select Sector SPDR Fund (XLV) 2.99% SPDR S&P Emerging Asia Pacific ETF 2.45% Total 69.35% Total investments: 24 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation invests with average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL DIVERSIFIED EQUITY (FORSTRONG) Information as at December 31, 2017 QUICK FACTS High Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $9.94 Classic Series 75/75 Prestige % $9.94 Series 75/ % $9.94 Series 75/100 Prestige % $9.94 HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN Performance data cannot be published for funds that have been in existence for less than 1 year. YEARBYYEAR RETURNS Performance data cannot be published for funds that have been in existence for less than 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 88

91 GLOBAL DIVERSIFIED EQUITY (FORSTRONG) HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.82% 2.66% 3.12% 2.78% Fund Fee Rate 0.20% 0.20% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 89 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

92 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FIDELITY GLOBAL MONTHLY INCOME Information as at December 31, 2017 Date of first offer under IAG SRP: December 4, 2017 Portfolio Advisor: Fidelity Investments Total Fund Value: $2.8 million Number of Units Outstanding: 108,533 Portfolio Turnover Rate: 0.00% Minimum Investment: $25 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $9.87 Classic Series 75/75 Prestige % $9.87 Series 75/ % $9.87 Series 75/100 Prestige % $9.87 WHAT DOES THIS FUND INVEST IN? The Fund invests in units of the Fidelity Global Monthly Income Fund which invests in a well diversified portfolio primarily composed of foreign asset classes. Including, but not limited to: global fixed income securities and equities. Top 10 investments of the underlying fund Apple Inc. Chevron Corp. Microsoft Corp. JPMorgan Chase & Co. Micro Focus International PLC Bank of America Corp. Suncor Energy Inc. British American Tobacco PLC Amgen Inc. Wells Fargo & Co. Investment segmentation of the underlying fund Top 10 holdings represents 8.19% of the principal underlying fund s net assets. Total investments: 2,573 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation as well as some regular revenues invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN Performance data cannot be published for funds that have been in existence for less than 1 year. YEARBYYEAR RETURNS Performance data cannot be published for funds that have been in existence for less than 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 90

93 FIDELITY GLOBAL MONTHLY INCOME HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.89% 2.69% 3.09% 2.85% Fund Fee Rate 0.10% 0.10% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 91 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

94 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: IA Clarington Investments Inc. Total Fund Value: $33.0 million Number of Units Outstanding: 2,324,581 Portfolio Turnover Rate: 13.45% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Strategic Equity Income Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Top investments IA Clarington Strategic Equity Income Fund, Series I 75.06% Top 10 investments of the principal underlying fund Waste Connections Inc. 3.28% Brookfield Infrastructure Partners LP 3.13% Brookfield Asset Management Inc. 2.88% Manulife Financial Corp. 2.77% Canadian Imperial Bank of Commerce 2.77% TELUS Corp. 2. The TorontoDominion Bank 2.74% BCE Inc. 2.73% Loblaw Companies Ltd. 2.68% Royal Bank of Canada 2.56% Total 28.29% Industrial Alliance Bond Fund 24.90% Total 99.96% Total investments: 143 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks capital growth with lower volatility exposure invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan STRATEGIC EQUITY INCOME HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS 92 Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $14.27 Classic Series 75/75 Prestige % $14.41 Series 75/ % $14.15 Series 75/100 Prestige % $14.36 Ecoflex Series 100/ % $14.15 FORLIFE Series 2.64% $14.15 Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,427. This works out to an average return of 5.21% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. %

95 STRATEGIC EQUITY INCOME HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.48% 2.03% 2.64% 1.97% 2.64% 2.64% Fund Fee Rate 0.10% 0.10% 0.50% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.04% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 93 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

96 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $114.1 million Number of Units Outstanding: 7,957,054 Portfolio Turnover Rate: 8.76% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan DIVIDEND GROWTH HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $14.48 Classic Series 75/75 Prestige % $14.62 Series 75/ % $14.31 Series 75/100 Prestige % $14.50 Ecoflex Series 100/ % $14.31 FORLIFE Series 2.74% $14.31 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Dividend Growth Class and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Top investments IA Clarington Dividend Growth Class, Series I 75.45% Top 10 investments of the principal underlying fund Royal Bank of Canada 6.39% The TorontoDominion Bank 6.23% Enbridge Inc. 6.07% Bank of Montreal 4.60% Brookfield Asset Management Inc. 4.16% Sun Life Financial Services of Canada Inc. 4.02% TELUS Corp. 3.99% Suncor Energy Inc. 3.85% Canadian National Railway Co. 3.68% Bank of Nova Scotia 3.44% Total 46.43% Industrial Alliance Bond Fund 24.56% Total % Total investments: 57 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks dividend income and the possibility of capital appreciation with lower risk exposure invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,448. This works out to an average return of 5.44% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 94 %

97 DIVIDEND GROWTH HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.48% 2.05% 2.68% 2.13% 2.74% 2.74% Fund Fee Rate 0.10% 0.10% 0.50% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 95 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

98 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisors: IA Clarington Investments Inc. Total Fund Value: $39.5 million Number of Units Outstanding: 3,235,730 Portfolio Turnover Rate: 4.35% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Canadian Conservative Equity Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Top investments IA Clarington Canadian Conservative Equity Fund, Series I 75.13% Top 10 investments of the principal underlying fund The TorontoDominion Bank 6.11% Royal Bank of Canada 6.03% Sun Life Financial Services of Canada Inc. 5.46% Bank of Nova Scotia 4.94% Enbridge Inc. 4.81% Manulife Financial Corp. 3.08% Alimentation CoucheTard Inc., Class B, SV 2.85% Canadian Natural Resources Ltd. 2.82% Canadian Pacific Railway Co. 2.54% Suncor Energy Inc. 2.54% Total 41.18% Industrial Alliance Bond Fund 24.87% Total % Total investments: 43 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks income and the potential for longterm capital appreciation with lower volatility exposure invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN CONSERVATIVE EQUITY HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS 96 Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,249. This works out to an average return of 3.24% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. % Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $12.49 Classic Series 75/75 Prestige % $12.62 Series 75/ % $12.17 Series 75/100 Prestige % $12.31 Ecoflex Series 100/ % $12.16 FORLIFE Series 3.06% $

99 CANADIAN CONSERVATIVE EQUITY HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.46% 1.97% 2.66% 2.17% 3.06% 3.06% Fund Fee Rate 0.10% 0.10% 0.50% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 97 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

100 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $4.0 million Number of Units Outstanding: 320,290 Portfolio Turnover Rate: 13.32% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN EQUITY INDEX HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Industrial Alliance Canadian Equity Index Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Top investments Industrial Alliance Canadian Equity Index Fund 75.09% Top 10 investments of the principal underlying fund Royal Bank of Canada 8.21% The TorontoDominion Bank 7.46% Bank of Nova Scotia 5.34% Horizons S&P/TSX 60 Index ETF 4.47% Enbridge Inc. 4.44% Canadian National Railway Co. 4.28% Suncor Energy Inc. 4.20% Bank of Montreal 3.60% BCE Inc. 2.97% TransCanada Corp. 2.92% Total 47.89% Industrial Alliance Bond Fund 24.96% Total % Total investments: 69 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation with lower volatility exposure invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. % 25 0 Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $12.57 Classic Series 75/75 Prestige % $12.67 Series 75/ % $12.42 Series 75/100 Prestige % $12.57 Ecoflex Series 100/ % $12.41 FORLIFE Series 2.88% $12.41 Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,257. This works out to an average return of 3.33% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

101 CANADIAN EQUITY INDEX HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.51% 2.19% 2.81% 2.33% 2.88% 2.88% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 99 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

102 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $2.2 million Number of Units Outstanding: 195,931 Portfolio Turnover Rate: 6.40% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan SELECT CANADIAN HYBRID 75/25 FUND 2 Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $11.52 Classic Series 75/75 Prestige % $11.61 Series 75/ % $11.36 Series 75/100 Prestige % $11.52 Ecoflex Series 100/ % $11.36 FORLIFE Series 2.89% $11.36 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Industrial Alliance Select Canadian Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Top investments Industrial Alliance Select Canadian Fund 75.38% Top 10 investments of the principal underlying fund The TorontoDominion Bank 6.93% Royal Bank of Canada 6.55% Bank of Nova Scotia 4.82% Canadian National Railway Co. 4.05% Manulife Financial Corp. 3.71% Suncor Energy Inc. 3.22% Bank of Montreal 2.98% Canadian Natural Resources Ltd. 2. Canadian Pacific Railway Co. 2.47% Enbridge Inc. 2.45% Total 39.93% Industrial Alliance Bond Fund 24.62% Total % Total investments: 99 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to obtain capital growth with lower volatility exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. % Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,152. This works out to an average return of 2.04% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and 20 Retirement Plan Individual Variable Annuity Contract 2 Only available in nonregistered contracts 30 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

103 SELECT CANADIAN HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.55% 2.24% 2.85% 2.22% 2.89% 2.89% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 101 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

104 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $5.1 million Number of Units Outstanding: 429,400 Portfolio Turnover Rate: 8.54% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN EQUITY VALUE HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $12.12 Classic Series 75/75 Prestige % $12.21 Series 75/ % $11.92 Series 75/100 Prestige % $12.06 Ecoflex Series 100/ % $11.92 FORLIFE Series 2.99% $11.92 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Industrial Alliance Canadian Equity Value Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Top investments Industrial Alliance Canadian Equity Value Fund 75.56% Top 10 investments of the principal underlying fund Industrial Alliance U.S. Equity Fund 16.04% Industrial Alliance International Equity Fund 15.03% Industrial Alliance Canadian Equity All Cap Value 4.91% The TorontoDominion Bank 4.45% Royal Bank of Canada 4.19% Bank of Nova Scotia 3.08% Canadian National Railway Co. 2.65% Manulife Financial Corp. 2.39% Suncor Energy Inc. 2.07% Bank of Montreal 1.91% Total 56.72% Industrial Alliance Bond Fund 24.43% Total 99.99% Total investments: 103 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to obtain a high capital appreciation with lower volatility exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,212. This works out to an average return of 2.79% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. % For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 25 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

105 CANADIAN EQUITY VALUE HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.57% 2.26% 2.87% 2.49% 2.99% 2.99% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 103 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

106 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Taylor Asset Management Inc. Total Fund Value: $31.5 million Number of Units Outstanding: 2,872,754 Portfolio Turnover Rate: 4.85% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN EQUITY (TAYLOR AM) HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Industrial Alliance Canadian Equity (Taylor AM) Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Top investments Industrial Alliance Canadian Equity (Taylor AM) Fund 75.56% Top 10 investments of the principal underlying fund Labrador Iron Ore Royalty Corp. 8.90% Martinrea International Inc. 7.48% Paramount Resources Ltd. 7.39% Home Capital Group Inc. 6. OceanaGold Corp. 6.55% EnerCare Inc. 5.68% Whirlpool Corp. 5.12% McKesson Corp. 5.03% Element Financial Corp. 4.73% Allstate Corp. 4.69% Total 62.32% Industrial Alliance Bond Fund 24.45% Total % Total investments: 23 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation with lower volatility exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 104 % Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $11.11 Classic Series 75/75 Prestige % $11.17 Series 75/ % $10.95 Series 75/100 Prestige % $11.07 Ecoflex Series 100/ % $10.95 FORLIFE Series % $10.95 Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,111. This works out to an average return of 1.52% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 4 years and down in value 2 years

107 CANADIAN EQUITY (TAYLOR AM) HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.91% 2.70% 3.21% 2.63% 3.23% 3.23% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 105 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

108 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Fidelity Investments Total Fund Value: $33.2 million Number of Units Outstanding: 2,402,361 Portfolio Turnover Rate: 13.33% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Fidelity True North Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Top investments Fidelity True North Fund, Series O 75.24% Top 10 investments of the principal underlying fund The TorontoDominion Bank Canadian National Railway Co. Suncor Energy Inc. Royal Bank of Canada Alimentation CoucheTard Inc., Class B, SV Rogers Communications Inc., Class B CGI Group Inc., SV Restaurant Brands International Inc. Metro Inc. Constellation Software Inc. Total 39.37% Industrial Alliance Bond Fund 24.78% Total % Total investments: 114 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks high longterm capital appreciation with lower volatility exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FIDELITY TRUE NORTH HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS 20 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 30 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 106 Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,413. This works out to an average return of 5.07% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. % Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $14.13 Classic Series 75/75 Prestige % $14.20 Series 75/ % $13.73 Series 75/100 Prestige 1 2. $13.86 Ecoflex Series 100/ % $13.72 FORLIFE Series 3.31% $

109 FIDELITY TRUE NORTH HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.66% 2.45% 2.96% % 3.31% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 107 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

110 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $23.0 million Number of Units Outstanding: 1,761,559 Portfolio Turnover Rate: 7.26% Minimum Investment: $25 Top investments Industrial Alliance Canadian Equity Growth Fund 75.41% Top 10 investments of the principal underlying fund Royal Bank of Canada 6.67% The TorontoDominion Bank 6.04% Bank of Nova Scotia 4.66% Canadian National Railway Co. 3.25% Suncor Energy Inc. 2.98% Enbridge Inc. 2.87% Manulife Financial Corp. 2.77% Bank of Montreal 2.72% Canadian Natural Resources Ltd. 2.54% Canadian Imperial Bank of Commerce 2.53% Total 37.03% Industrial Alliance Bond Fund 24.60% Total % Total investments: 132 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: wishes to obtain an increase of capital over the long term with lower volatility exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN EQUITY GROWTH HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Industrial Alliance Canadian Equity Growth Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 40 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 108 % Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $13.23 Classic Series 75/75 Prestige % $13.34 Series 75/ % $13.07 Series 75/100 Prestige % $13.21 Ecoflex Series 100/ % $13.07 FORLIFE Series 2.86% $13.07 Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,323. This works out to an average return of 4.08% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year

111 CANADIAN EQUITY GROWTH HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.57% 2.21% 2.86% 2.35% 2.86% 2.86% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 109 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

112 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Fidelity Investments Total Fund Value: $10.9 million Number of Units Outstanding: 833,555 Portfolio Turnover Rate: 10.93% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Fidelity Canadian Opportunities Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Top investments Fidelity Canadian Opportunities Fund, Series O 75.18% Top 10 investments of the principal underlying fund Alimentation CoucheTard Inc., Class B, SV Restaurant Brands International Inc. Loblaw Companies Ltd. Constellation Software Inc. Metro Inc. GGP Inc. Precision Drilling Corp. Peyto Exploration & Development Corp. CGI Group Inc., SV TMX Group Inc. Total 38.18% Industrial Alliance Bond Fund 24.82% Total % Total investments: 83 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: pursues high longterm return with lower volatility exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FIDELITY CANADIAN OPPORTUNITIES HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS 110 Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,337. This works out to an average return of 4.25% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. % Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $13.37 Classic Series 75/75 Prestige % $13.45 Series 75/ % $12.99 Series 75/100 Prestige % $13.10 Ecoflex Series 100/ % $12.97 FORLIFE Series % $

113 FIDELITY CANADIAN OPPORTUNITIES HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.63% 2.36% 2.93% 2.66% 3.34% 3.34% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 111 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

114 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: QV Investors Inc. Total Fund Value: $51.4 million Number of Units Outstanding: 3,055,788 Portfolio Turnover Rate: 7.80% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Canadian Equity Small Cap Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Top investments IA Clarington Canadian Small Cap Fund, Series I 75.30% Top 10 investments of the principal underlying fund Canadian Western Bank 6.00% Lassonde Industries Inc., SV 4.83% Industrial Alliance Insurance and Financial Services Inc. 4. Parkland Fuel Corp. 4.71% AltaGas Ltd. 4.69% EL Financial Corp. Ltd. 4.46% Superior Plus Corp. 3.94% Government of Canada, 1.059%, % Secure Energy Services Inc. 3.27% Leon s Furniture Ltd. 3.08% Total 43.14% Industrial Alliance Bond Fund 24.71% Total % Total investments: 44 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital growth with lower volatility exposure invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN EQUITY SMALL CAP (QV) HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS 112 Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,701. This works out to an average return of 7.89% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. % Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $17.01 Classic Series 75/75 Prestige 1 2. $17.10 Series 75/ % $16.78 Series 75/100 Prestige % $16.95 Ecoflex Series 100/ % $16.78 FORLIFE Series % $

115 CANADIAN EQUITY SMALL CAP (QV) HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.96% % 2.81% 3.24% 3.24% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 113 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

116 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Dynamic Funds Total Fund Value: $35.0 million Number of Units Outstanding: 1,999,856 Portfolio Turnover Rate: 11.95% Minimum Investment: $25 Top investments Dynamic Global Dividend Fund, Series O 75.05% Top 10 investments of the principal underlying fund Frutarom Industries Ltd. 5.80% Keyence Corp. 5.30% McDonald s Corp. 5.00% Allstate Corp. 4.90% JPMorgan Chase & Co. 4.90% UnitedHealth Group Inc. 4.90% Raytheon Company 4.70% Elbit Systems Ltd. 4.60% Belimo Holding AG 4.40% Schweiter Technologies AC 4.20% Total 48.70% Industrial Alliance Bond Fund 24.91% Total 99.96% Total investments: 24 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital growth with lower volatility exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL DIVIDEND (DYNAMIC) HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Dynamic Global Dividend Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,768. This works out to an average return of 8.49% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. % Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $17.68 Classic Series 75/75 Prestige % $17.78 Series 75/ % $17.40 Series 75/100 Prestige % $17.57 Ecoflex Series 100/ % $17.39 FORLIFE Series 3.24% $ For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

117 GLOBAL DIVIDEND (DYNAMIC) HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.84% 2.63% 3.14% 2.79% 3.24% 3.24% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 115 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

118 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $41.4 million Number of Units Outstanding: 2,494,847 Portfolio Turnover Rate: 10.54% Minimum Investment: $25 Top investments IA Clarington Global Value Fund, Series I 75.34% Top 10 investments of the principal underlying fund Microsoft Corp. 2.34% Apple Inc. 2.33% Lowe s Companies Inc. 2.20% Citigroup Inc. 2.00% Morgan Stanley 1.97% Mondelez International Inc. 1.57% Bank of America Corp. 1.53% JPMorgan Chase & Co. 1.52% The Kraft Heinz Co. 1.40% Pfizer Inc. 1.38% Total 18.24% Industrial Alliance Bond Fund 24.67% Total % Total investments: 168 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks high longterm added value with lower volatility exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL EQUITY HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Global Value Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,683. This works out to an average return of 7.73% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. % Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $16.83 Classic Series 75/75 Prestige % $16.99 Series 75/ % $16.55 Series 75/100 Prestige % $16.78 Ecoflex Series 100/ % $16.55 FORLIFE Series 3.04% $ For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

119 GLOBAL EQUITY HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.62% 2.19% 2.92% 2.41% 3.04% 3.04% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 117 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

120 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Franklin Templeton Investments Total Fund Value: $19.9 million Number of Units Outstanding: 1,193,920 Portfolio Turnover Rate: 11.12% Minimum Investment: $25 Top investments Templeton Master Trust Fund, Series % Top 10 investments of the principal underlying fund Oracle Corp. 2.56% Samsung Electronics Co. Ltd. 2.50% BP PLC 2.36% Alphabet Inc. 2.26% Microsoft Corp. 2.25% Royal Dutch Shell PLC 2.21% Apple Inc. 2.19% Citigroup Inc. 2.17% JPMorgan Chase & Co. 2.13% HSBC Holdings PLC 2.06% Total 22.69% Industrial Alliance Bond Fund 24.65% Total 99.92% Total investments: 96 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation with lower volatility exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL EQUITY (TEMPLETON) HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Templeton Master Trust Fund, Series 1 and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,711. This works out to an average return of 7.99% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 6 years and down in value 0 year(s). % Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $17.11 Classic Series 75/75 Prestige % $17.18 Series 75/ % $16.62 Series 75/100 Prestige % $16.75 Ecoflex Series 100/ % $16.60 FORLIFE Series 3.37% $ For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

121 GLOBAL EQUITY (TEMPLETON) HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.69% 2.52% 2.99% 2.82% 3.37% 3.37% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 119 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

122 Date of first offer under IAG SRP: January 16, 2012 Portfolio Advisor: Radin Capital Partners Inc. Total Fund Value: $13.0 million Number of Units Outstanding: 821,286 Portfolio Turnover Rate: 4.00% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Global Opportunities Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Top investments Investment segmentation of the principal underlying fund IA Clarington Global Opportunities Fund, Series I 75.66% Top 10 investments of the principal underlying fund Foot Locker Inc. 3.59% De La Rue PLC 3.44% Standard Chartered PLC 3.25% Yue Yuen Industrial (Holdings) Ltd. 3.24% China Mobile Ltd. 3.24% Michael Kors Holdings Ltd. 3.20% Volkswagen AG, Pfd. 3.20% Ngk Spark Plug Co.Ltd 3.14% Top Glove Corporation Berhad 3.10% The Finish Line Inc. 2.95% Total 32.35% Industrial Alliance Bond Fund 24.35% Total % Total investments: 48 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks high longterm added value with lower volatility exposure invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL OPPORTUNITIES (RADIN) HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,615. This works out to an average return of 8.38% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. If the fund had been offered under this product during those years, its returns would likely have been similar. In this period, the fund was up in value 6 years and down in value 0 year(s). % Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $16.15 Classic Series 75/75 Prestige % $16.26 Series 75/ % $15.62 Series 75/100 Prestige % $15.75 Ecoflex Series 100/ % $15.60 FORLIFE Series % $ For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

123 GLOBAL OPPORTUNITIES (RADIN) HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.51% 2.21% 2.81% 2.51% 3.31% 3.31% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 121 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

124 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $11.5 million Number of Units Outstanding: 745,257 Portfolio Turnover Rate: 16.65% Minimum Investment: $25 Top investments Industrial Alliance Global True Conviction Fund 75.37% Top 10 investments of the principal underlying fund Ströer SE 6.02% Alibaba Group Holding Ltd., Sponsored ADR 4.97% Worldline SA /France 4.68% The TorontoDominion Bank 4.16% Mtu Aero Engines AG 3.91% Orpea 3.89% Virgin Money Holdings (UK) PLC 2.93% Cairn Energy PLC 2.73% Synchrony Financial 2.66% SNCLavalin Group Inc. 2.65% Total 38.60% Industrial Alliance Bond Fund 24.64% Total % Total investments: 42 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks high total investment return with lower volatility exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL TRUE CONVICTION HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Industrial Alliance Global True Conviction Fund and the Industrial Alliance Bond Fund. The underlying Funds are combined to remain in proximity of the 25% target weighting. 122 Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AAVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,563. This works out to an average return of 6.60% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. % Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $15.63 Classic Series 75/75 Prestige % $15.76 Series 75/ % $15.35 Series 75/100 Prestige % $15.56 Ecoflex Series 100/ % $15.34 FORLIFE Series 3.03% $

125 GLOBAL TRUE CONVICTION HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.58% 2.22% 2.88% 2.40% 3.03% 3.03% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 123 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

126 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Fidelity Investments Total Fund Value: $65.8 million Number of Units Outstanding: 3,870,586 Portfolio Turnover Rate: 8.07% Minimum Investment: $25 Top investments Fidelity NorthStar Fund, Series O 75.10% Top 10 investments of the principal underlying fund Anthem, Inc. Seria Co Ltd. Ottogi Corp. Gilead Sciences Inc. Imperial Brands PLC Advanced Accelerator Application SA Nxp Semiconductor NV Monsanto Co. Orbital ATK Inc. Akorn Inc. Total 20.45% Industrial Alliance Bond Fund 24.92% Total % Total investments: 673 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital growth with lower volatility exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FIDELITY NORTHSTAR HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Fidelity NorthStar Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Investment segmentation of the principal underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,733. This works out to an average return of 8.18% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. % Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $17.33 Classic Series 75/75 Prestige % $17.43 Series 75/ % $16.95 Series 75/100 Prestige % $17.11 Ecoflex Series 100/ % $16.94 FORLIFE Series 3.35% $ For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

127 FIDELITY NORTHSTAR HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.85% 2.60% 3.15% 2.90% 3.35% 3.35% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, Industrial Alliance pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 125 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

128 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Sarbit Advisory Services Inc. Total Fund Value: $71.2 million Number of Units Outstanding: 4,990,895 Portfolio Turnover Rate: 2.52% Minimum Investment: $25 Top investments IA Clarington Sarbit U.S. Equity Fund, Series I 74.81% Berkshire Hathaway Finance Corp., Class B 7.76% Lions Gate Entertainment Corp., Class B 7.16% Liberty SiriusXM Group 6.06% Lions Gate Entertainment Corp. 6.05% Imax Corp. 6.04% TMobile USA Inc. 5.26% Ituran Location and Control Ltd. 2.13% Total 40.46% Industrial Alliance Bond Fund 25.26% Total % Total investments: 21 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan U.S. EQUITY (SARBIT) CURRENCY NEUTRAL HYBRID 75/25 FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $14.54 Classic Series 75/75 Prestige % $14.63 Series 75/ % $14.23 Series 75/100 Prestige % $14.36 Ecoflex Series 100/ % $14.23 FORLIFE Series % $14.23 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Sarbit U.S. Equity Fund and the Industrial Alliance Bond Fund. The underlying funds are combined to remain in proximity of the 25% target weighting. Investment segmentation of the principal underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks capital preservation and appreciation with lower risk exposure invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 Fund closed to new investments in the Ecoflex Series 100/100 and FORLIFE Series 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 126 HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,454. This works out to an average return of 5.50% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 6 years and down in value 0 year(s). %

129 U.S. EQUITY (SARBIT) CURRENCY NEUTRAL HYBRID 75/25 FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.68% 2.41% 2.98% 2.71% 3.19% 3.19% Fund Fee Rate 0.20% 0.20% 0.65% 0.40% TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 127 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

130 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: IA Clarington Investments Inc. Total Fund Value: $215.9 million Number of Units Outstanding: 12,408,754 Portfolio Turnover Rate: 5.16% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Strategic Equity Income Fund which mainly invests in highyield quality dividend common and preferred shares of Canadian companies. Top 10 investments of the underlying fund Waste Connections Inc. 3.28% Brookfield Infrastructure Partners LP 3.13% Brookfield Asset Management Inc. 2.88% Manulife Financial Corp. 2.77% Canadian Imperial Bank of Commerce 2.77% TELUS Corp. 2. The TorontoDominion Bank 2.74% BCE Inc. 2.73% Loblaw Companies Ltd. 2.68% Royal Bank of Canada 2.56% Total 28.29% Total investments: 81 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan STRATEGIC EQUITY INCOME FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $18.97 Classic Series 75/75 Prestige % $19.16 Series 75/ % $18.78 Series 75/100 Prestige % $19.01 Ecoflex Series 100/ % $18.78 FORLIFE Series 2.77% $18.78 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks dividend income and potential for capital appreciation invests with below average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,517. This works out to an average return of 6.15% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. %

131 STRATEGIC EQUITY INCOME FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.56% 2.09% 2.77% 2.22% 2.77% 2.77% Fund Fee Rate 0.20% 0.20% % TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 129 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

132 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $878.6 million Number of Units Outstanding: 40,904,383 Portfolio Turnover Rate: 6.88% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Dividend Growth Class which invests in stocks of Canadian blue chip style companies. Mainly invests in equities of large capitalization companies. Top 10 investments of the underlying fund Royal Bank of Canada 6.39% The TorontoDominion Bank 6.23% Enbridge Inc. 6.07% Bank of Montreal 4.60% Brookfield Asset Management Inc. 4.16% Sun Life Financial Services of Canada Inc. 4.02% TELUS Corp. 3.99% Suncor Energy Inc. 3.85% Canadian National Railway Co. 3.68% Bank of Nova Scotia 3.44% Total 46.43% Total investments: 57 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan DIVIDEND GROWTH FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $23.64 Classic Series 75/75 Prestige % $23.88 Series 75/ % $23.35 Series 75/100 Prestige % $23.66 Ecoflex Series 100/ % $23.35 FORLIFE Series 2.84% $23.35 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: is seeking dividend income with the possibility of capital appreciation invests with average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,539. This works out to an average return of 6.36% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. %

133 DIVIDEND GROWTH FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.57% 2.12% 2.84% 2.24% 2.84% 2.84% Fund Fee Rate 0.20% 0.20% % TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 131 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

134 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisors: IA Clarington Investments Inc. Total Fund Value: $153.4 million Number of Units Outstanding: 7,688,409 Portfolio Turnover Rate: 1.13% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Canadian Conservative Equity Fund which invests in Canadian preferred and common shares with diversification through investments in securities of companies representing many classes of industry. Mainly invests in equities of large capitalization companies. Top 10 investments of the underlying fund The TorontoDominion Bank 6.11% Royal Bank of Canada 6.03% Sun Life Financial Services of Canada Inc. 5.46% Bank of Nova Scotia 4.94% Enbridge Inc. 4.81% Manulife Financial Corp. 3.08% Alimentation CoucheTard Inc., Class B, SV 2.85% Canadian Natural Resources Ltd. 2.82% Canadian Pacific Railway Co. 2.54% Suncor Energy Inc. 2.54% Total 41.18% Total investments: 43 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN CONSERVATIVE EQUITY FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $22.71 Classic Series 75/75 Prestige % $22.93 Series 75/ % $22.08 Series 75/100 Prestige % $22.35 Ecoflex Series 100/ % $22.06 FORLIFE Series 3.23% $22.06 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks income with the potential for longterm capital appreciation invests with average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,272. This works out to an average return of 3.50% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. %

135 CANADIAN CONSERVATIVE EQUITY FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee applies to the Series 75/100, the Series 75/100 Prestige, the Ecoflex Series 100/100 and the FORLIFE Series guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige Ecoflex Series 100/100 FORLIFE Series * MER shown may differ from actual MER. MER* (Annual rate as a % of the fund value) 2.57% 2.13% 2.87% 2.43% 3.23% 3.23% Fund Fee Rate 0.20% 0.20% % TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 133 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

136 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $341.6 million Number of Units Outstanding: 9,714,497 Portfolio Turnover Rate: 5.65% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN EQUITY INDEX FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER Net Asset Value per Unit Classic Series 75/ % $29.59 Classic Series 75/75 Prestige % $29.89 Series 75/ % $29.23 Series 75/100 Prestige % $29.58 WHAT DOES THIS FUND INVEST IN? The fund aims to replicate the performance of the S&P/TSX 60, by investing directly into the securities of the 60 biggest companies of the S&P/TSX. Top 10 investments Royal Bank of Canada 8.21% The TorontoDominion Bank 7.46% Bank of Nova Scotia 5.34% Horizons S&P/TSX 60 Index ETF 4.47% Enbridge Inc. 4.44% Canadian National Railway Co. 4.28% Suncor Energy Inc. 4.20% Bank of Montreal 3.60% BCE Inc. 2.97% TransCanada Corp. 2.92% Total 47.89% Total investments: 69 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to obtain high longterm capital appreciation invests with average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,271. This works out to an average return of 3.49% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. % Investment segmentation

137 CANADIAN EQUITY INDEX FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.59% 2.11% 2.89% 2.41% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 135 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

138 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $20.9 million Number of Units Outstanding: 653,413 Portfolio Turnover Rate: 16.53% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan SELECT CANADIAN FUND 2 Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 3 Net Asset Value per Unit Classic Series 75/ % $42.32 Classic Series 75/75 Prestige % $42.69 Series 75/ % $41.73 Series 75/100 Prestige % $42.20 WHAT DOES THIS FUND INVEST IN? This fund is mainly composed of common stocks of attractively priced large Canadian companies, several of which are found on the S&P/TSX 60 Index. Top 10 investments The TorontoDominion Bank 6.93% Royal Bank of Canada 6.55% Bank of Nova Scotia 4.82% Canadian National Railway Co. 4.05% Manulife Financial Corp. 3.71% Suncor Energy Inc. 3.22% Bank of Montreal 2.98% Canadian Natural Resources Ltd. 2. Canadian Pacific Railway Co. 2.47% Enbridge Inc. 2.45% Total 39.93% Total investments: 99 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to obtain capital growth invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 Only available in nonregistered contracts 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,139. This works out to an average return of 1.88% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. % Investment segmentation

139 SELECT CANADIAN FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.64% 2.31% 2.94% 2.52% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 137 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

140 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $240.4 million Number of Units Outstanding: 3,538,562 Portfolio Turnover Rate: 7.84% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN EQUITY VALUE FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $50.18 Classic Series 75/75 Prestige % $50.64 Series 75/ % $49.35 Series 75/100 Prestige % $49.93 WHAT DOES THIS FUND INVEST IN? This fund invests mainly in equities of large capitalization companies from all economic sectors of the Canadian stock market. Top 10 investments Industrial Alliance U.S. Equity Fund 16.04% Industrial Alliance International Equity Fund 15.03% Industrial Alliance Canadian Equity All Cap Value 4.91% The TorontoDominion Bank 4.45% Royal Bank of Canada 4.19% Bank of Nova Scotia 3.08% Canadian National Railway Co. 2.65% Manulife Financial Corp. 2.39% Suncor Energy Inc. 2.07% Bank of Montreal 1.91% Total 56.72% Total investments: 103 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to obtain a high capital appreciation invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,222. This works out to an average return of 2.90% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. % Investment segmentation

141 CANADIAN EQUITY VALUE FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.73% 2.32% 3.03% 2.60% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 139 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

142 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Taylor Asset Management Inc. Total Fund Value: $276.0 million Number of Units Outstanding: 99,942 Portfolio Turnover Rate: 38.06% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN EQUITY (TAYLOR AM) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $30.43 Classic Series 75/75 Prestige % $30.63 Series 75/ % $29.98 Series 75/100 Prestige % $30.23 WHAT DOES THIS FUND INVEST IN? This fund is mainly invests in common stocks from solid, attractively priced Canadian companies that are well positioned in their respective industries. Top 10 investments Labrador Iron Ore Royalty Corp. 8.90% Martinrea International Inc. 7.48% Paramount Resources Ltd. 7.39% Home Capital Group Inc. 6. OceanaGold Corp. 6.55% EnerCare Inc. 5.68% Whirlpool Corp. 5.12% McKesson Corp. 5.03% Element Financial Corp. 4.73% Allstate Corp. 4.69% Total 62.32% Total investments: 23 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,070. This works out to an average return of 0.98% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 6 years and down in value 4 years. % Investment segmentation

143 CANADIAN EQUITY (TAYLOR AM) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 3.04% 2.74% 3.34% 2.99% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 141 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

144 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Fidelity Investments Total Fund Value: $288.8 million Number of Units Outstanding: 7,258,043 Portfolio Turnover Rate: 3.45% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Fidelity True North Fund, which invests mainly in equities of Canadian companies, across all market sectors and market capitalizations. Top 10 investments of the underlying fund The TorontoDominion Bank Canadian National Railway Co. Suncor Energy Inc. Royal Bank of Canada Alimentation CoucheTard Inc., Class B, SV Rogers Communications Inc., Class B CGI Group Inc., SV Restaurant Brands International Inc. Metro Inc. Constellation Software Inc. Top 10 holdings represents 39.37% of the underlying fund s net assets. Total investments: 114 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FIDELITY TRUE NORTH FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $50.28 Classic Series 75/75 Prestige % $50.57 Series 75/ % $48.98 Series 75/100 Prestige % $49.45 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks superior longterm capital appreciation invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,494. This works out to an average return of 5.92% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. %

145 FIDELITY TRUE NORTH FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.83% 2.59% 3.13% 2.89% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 143 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

146 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $609.2 million Number of Units Outstanding: 14,204,260 Portfolio Turnover Rate: 78.49% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN EQUITY GROWTH FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $40.29 Classic Series 75/75 Prestige % $40.67 Series 75/ % $39.75 Series 75/100 Prestige % $40.25 WHAT DOES THIS FUND INVEST IN? This fund mainly invests in equities of large capitalization Canadian companies which demonstrate aboveaverage growth potential. Top 10 investments Royal Bank of Canada 6.67% The TorontoDominion Bank 6.04% Bank of Nova Scotia 4.66% Canadian National Railway Co. 3.25% Suncor Energy Inc. 2.98% Enbridge Inc. 2.87% Manulife Financial Corp. 2.77% Bank of Montreal 2.72% Canadian Natural Resources Ltd. 2.54% Canadian Imperial Bank of Commerce 2.53% Total 37.03% Total investments: 132 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: wishes to obtain an increase of capital over the long term invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,366. This works out to an average return of 4.56% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. % Investment segmentation

147 CANADIAN EQUITY GROWTH FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.69% 2.27% 2.99% 2.44% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 145 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

148 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Fidelity Investments Total Fund Value: $137.0 million Number of Units Outstanding: 3,177,486 Portfolio Turnover Rate: 3.47% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Fidelity Canadian Opportunities Fund, which invests mainly in the stocks of smaller and midsize Canadian companies. A variable portion of the fund may be allocated to international assets to take advantage of geographic diversification. Top 10 investments of the underlying fund Alimentation CoucheTard Inc., Class B, SV Restaurant Brands International Inc. Loblaw Companies Ltd. Constellation Software Inc. Metro Inc. GGP Inc. Precision Drilling Corp. Peyto Exploration & Development Corp. CGI Group Inc., SV TMX Group Inc. Top 10 holdings represents 38.18% of the underlying fund s net assets. Total investments: 83 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FIDELITY CANADIAN OPPORTUNITIES FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $55.92 Classic Series 75/75 Prestige % $56.30 Series 75/ % $54.33 Series 75/100 Prestige % $54.80 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: pursues superior longterm return invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,399. This works out to an average return of 4.92% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. %

149 FIDELITY CANADIAN OPPORTUNITIES FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.81% 2.50% 3.11% 2.80% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 147 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

150 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: QV Investors Inc. Total Fund Value: $165.3 million Number of Units Outstanding: 6,477,580 Portfolio Turnover Rate: 5.38% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Canadian Small Cap. Fund, which primarily invests in the stocks of smaller and midsize Canadian companies. Top 10 investments of the underlying fund Canadian Western Bank 6.00% Lassonde Industries Inc., SV 4.83% Industrial Alliance Insurance and Financial Services Inc. 4. Parkland Fuel Corp. 4.71% AltaGas Ltd. 4.69% EL Financial Corp. Ltd. 4.46% Superior Plus Corp. 3.94% Government of Canada, 1.059%, % Secure Energy Services Inc. 3.27% Leon s Furniture Ltd. 3.08% Total 43.14% Total investments: 44 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan CANADIAN EQUITY SMALL CAP (QV) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $23.62 Classic Series 75/75 Prestige % $23.79 Series 75/ % $23.28 Series 75/100 Prestige % $23.50 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation invests with above average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,927. This works out to an average return of 9.84% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. %

151 CANADIAN EQUITY SMALL CAP (QV) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 3.06% 2.74% 3.36% 2.97% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 149 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

152 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Dynamic Funds Total Fund Value: $187.7 million Number of Units Outstanding: 8,725,894 Portfolio Turnover Rate: 1.99% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL DIVIDEND (DYNAMIC) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $23.03 Classic Series 75/75 Prestige % $23.17 Series 75/ % $22.73 Series 75/100 Prestige % $22.95 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Dynamic Global Dividend Fund, which primarily invests in equity securities of businesses located around the world. Top 10 investments of the underlying fund Frutarom Industries Ltd. 5.80% Keyence Corp. 5.30% McDonald s Corp. 5.00% Allstate Corp. 4.90% JPMorgan Chase & Co. 4.90% UnitedHealth Group Inc. 4.90% Raytheon Company 4.70% Elbit Systems Ltd. 4.60% Belimo Holding AG 4.40% Schweiter Technologies AC 4.20% Total 48.70% Total investments: 24 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital growth invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $2,034. This works out to an average return of 10.69% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. % Investment segmentation of the underlying fund

153 GLOBAL DIVIDEND (DYNAMIC) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.97% 2.71% 3.27% 2.87% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 151 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

154 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $187.4 million Number of Units Outstanding: 7,334,882 Portfolio Turnover Rate: 3.76% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL EQUITY FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $23.03 Classic Series 75/75 Prestige % $23.25 Series 75/ % $22.67 Series 75/100 Prestige % $22.96 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Global Value Fund, which invests primarily in common stocks of companies throughout the world. Top 10 investments of the underlying fund Microsoft Corp. 2.34% Apple Inc. 2.33% Lowe s Companies Inc. 2.20% Citigroup Inc. 2.00% Morgan Stanley 1.97% Mondelez International Inc. 1.57% Bank of America Corp. 1.53% JPMorgan Chase & Co. 1.52% The Kraft Heinz Co. 1.40% Pfizer Inc. 1.38% Total 18.24% Total investments: 168 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks high longterm added value invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. Investment segmentation of the underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,867. This works out to an average return of 9.34% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 8 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 6 years and down in value 2 years. % For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

155 GLOBAL EQUITY FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.78% 2.36% 3.08% 2.51% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 153 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

156 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Franklin Templeton Investments Total Fund Value: $303.4 million Number of Units Outstanding: 11,323,005 Portfolio Turnover Rate: 10.57% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Templeton Master Trust Fund, Series 1, which mainly invests in equities of largemedium capitalization companies around the world. Top 10 investments of the underlying fund Oracle Corp. 2.56% Samsung Electronics Co. Ltd. 2.50% BP PLC 2.36% Alphabet Inc. 2.26% Microsoft Corp. 2.25% Royal Dutch Shell PLC 2.21% Apple Inc. 2.19% Citigroup Inc. 2.17% JPMorgan Chase & Co. 2.13% HSBC Holdings PLC 2.06% Total 22.69% Total investments: 96 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL EQUITY (TEMPLETON) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $25.06 Classic Series 75/75 Prestige % $25.18 Series 75/ % $24.38 Series 75/100 Prestige % $24.63 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,885. This works out to an average return of 9.49% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 6 years and down in value 4 years. %

157 GLOBAL EQUITY (TEMPLETON) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.85% 2.66% 3.15% 2.96% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 155 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

158 Date of first offer under IAG SRP: January 16, 2012 Portfolio Advisor: Radin Capital Partners Inc. Total Fund Value: $27.3 million Number of Units Outstanding: 1,544,415 Portfolio Turnover Rate: 19.17% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL OPPORTUNITIES (RADIN) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $17.93 Classic Series 75/75 Prestige % $18.02 Series 75/ % $17.43 Series 75/100 Prestige % $17.59 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Global Opportunities Fund, which mainly invests in equities securities of companies around the world. Top 10 investments of the underlying fund Foot Locker Inc. 3.59% De La Rue PLC 3.44% Standard Chartered PLC 3.25% Yue Yuen Industrial (Holdings) Ltd. 3.24% China Mobile Ltd. 3.24% Michael Kors Holdings Ltd. 3.20% Volkswagen AG, Pfd. 3.20% Ngk Spark Plug Co.Ltd 3.14% Top Glove Corporation Berhad 3.10% The Finish Line Inc. 2.95% Total 32.35% Total investments: 48 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation invests with above average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High Investment segmentation of the underlying fund HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,793. This works out to an average return of 10.30% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 6 years and down in value 0 year(s). This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. % For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

159 GLOBAL OPPORTUNITIES (RADIN) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.72% 2.52% 3.02% 2.82% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 157 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

160 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $172.5 million Number of Units Outstanding: 8,422,849 Portfolio Turnover Rate: 84.33% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in an equity portfolio of securities of companies located around the world. The geographic diversification of the portfolio corresponds to: one third in Canada, one third in the United States and one third in the Europe/Asia region. Top 10 investments Ströer SE 6.02% Alibaba Group Holding Ltd., Sponsored ADR 4.97% Worldline SA /France 4.68% The TorontoDominion Bank 4.16% Mtu Aero Engines AG 3.91% Orpea 3.89% Virgin Money Holdings (UK) PLC 2.93% Cairn Energy PLC 2.73% Synchrony Financial 2.66% SNCLavalin Group Inc. 2.65% Total 38.60% Total investments: 42 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL TRUE CONVICTION FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $17.08 Classic Series 75/75 Prestige % $17.24 Series 75/ % $16.81 Series 75/100 Prestige % $17.01 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks high total investment return invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,708. This works out to an average return of 7.96% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 6 years. In this period, the fund was up in value 5 years and down in value 1 year. This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. % For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

161 GLOBAL TRUE CONVICTION FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.77% 2.36% 3.07% 2.58% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 159 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

162 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FIDELITY GLOBAL CONCENTRATED EQUITY Information as at December 31, 2017 Date of first offer under IAG SRP: December 4, 2017 Portfolio Advisor: Fidelity Investments Total Fund Value: $1.1 million Number of Units Outstanding: 11,984,466 Portfolio Turnover Rate: 0.00% Minimum Investment: $25 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $10.05 Classic Series 75/75 Prestige % $10.05 Series 75/ % $10.05 Series 75/100 Prestige % $10.06 WHAT DOES THIS FUND INVEST IN? The Fund invests in units of the Fidelity Global Concentrated Equity Fund which invests in a well diversified portfolio primarily composed of equity securities of companies operating around the world. Top 10 investments of the underlying fund Vipshop Holdings Ltd. ADR Alphabet Inc., Class C Samsonite International SA AmerisourceBergen Corp. Julius Baer Gruppe AG Brenntag AG Compass Group PLC BT Group PLC Bunzl plc, 4.610%, Pandora A/S Investment segmentation of the underlying fund Top 10 holdings represents 22.94% of the principal underlying fund s net assets. Total investments: 64 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital growth invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN Performance data cannot be published for funds that have been in existence for less than 1 year. YEARBYYEAR RETURNS Performance data cannot be published for funds that have been in existence for less than 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 160

163 FIDELITY GLOBAL CONCENTRATED EQUITY HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 3.07% 2.84% 3.37% 3.05% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 161 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

164 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Fidelity Investments Total Fund Value: $274.1 million Number of Units Outstanding: 12,853,950 Portfolio Turnover Rate: 5.42% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Fidelity NorthStar Fund, which invests in a well diversified portfolio of equities of companies operating around the world. Top 10 investments of the underlying fund Anthem, Inc. Seria Co Ltd. Ottogi Corp. Gilead Sciences Inc. Imperial Brands PLC Advanced Accelerator Application SA Nxp Semiconductor NV Monsanto Co. Orbital ATK Inc. Akorn Inc. Top 10 holdings represents 20.45% of the underlying fund s net assets. Total investments: 673 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FIDELITY NORTHSTAR FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $24.01 Classic Series 75/75 Prestige % $24.15 Series 75/ % $23.55 Series 75/100 Prestige % $23.78 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital growth invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,965. This works out to an average return of 10.14% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. %

165 FIDELITY NORTHSTAR FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 3.02% 2.79% 3.32% 3.00% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 163 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

166 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: BlackRock Total Fund Value: $55.3 million Number of Units Outstanding: 3,843,127 Portfolio Turnover Rate: 11.07% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the BlackRock CDN MSCI EAFE Equity Index Fund, which invests in the securities of large capitalization companies that operate in Europe, Australasia and the Far East. Top 10 investments of the underlying fund Nestlé SA 1.76% HSBC Holdings PLC 1.37% Novartis AG, Registered 1.24% Roche Holdings AG 1.17% Toyota Motor Corp. 1.10% British American Tobacco PLC 1.02% Royal Dutch Shell PLC, Class A, Sponsored ADR 0.99% BP PLC 0.92% Total SA 0.86% Royal Dutch Shell PLC, Class B 0.84% Total 11.27% Total investments: 928 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan INTERNATIONAL EQUITY INDEX (BLACKROCK) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $14.44 Classic Series 75/75 Prestige % $14.50 Series 75/ % $14.27 Series 75/100 Prestige % $14.42 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to obtain high longterm capital appreciation invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,575. This works out to an average return of 6.72% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 6 years and down in value 4 years. %

167 INTERNATIONAL EQUITY INDEX (BLACKROCK) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.71% 2.55% 2.98% 2.47% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 165 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

168 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $568.6 million Number of Units Outstanding: 22,215,290 Portfolio Turnover Rate: 23.33% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan INTERNATIONAL EQUITY FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $21.32 Classic Series 75/75 Prestige % $21.51 Series 75/ % $20.96 Series 75/100 Prestige % $21.21 WHAT DOES THIS FUND INVEST IN? This fund invests in a welldiversified portfolio of equities in primarily mediumand largecapitalization companies located outside North America. Top 10 investments Royal Dutch Shell PLC 2.80% Credit Suisse Group AG 2.12% Glencore Xstrata PLC 2.03% Natixis 2.02% AIA Group Ltd. 1.98% LVMH Moet Hennessy Louis Vuitton SA 1.94% Daikin Industries Ltd. 1.81% Danske Bank A/S 1.78% Nitori Holdings Co. Ltd. 1.77% Lloyd s Banking Group PLC 1.74% Total 19.99% Total investments: 77 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks added value in the long term invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,598. This works out to an average return of 6.94% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 9 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 2 years. % Investment segmentation

169 INTERNATIONAL EQUITY FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.84% 2.44% 3.14% 2.70% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 167 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

170 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Franklin Templeton Investments Total Fund Value: $60.3 million Number of Units Outstanding: 2,836,036 Portfolio Turnover Rate: 10.61% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of Templeton International Stock Trust, which is comprised of a selection of lowpriced, superior quality international equity securities from the financial markets of a large number of countries excluding North America. Top 10 investments of the underlying fund Samsung Electronics Co. Ltd. 2.82% BP PLC 2.19% Royal Dutch Shell PLC 2.17% Standard Chartered PLC 1.95% Suntory Beverage & Food Ltd. 1.89% HSBC Holdings PLC 1.83% Roche Holdings AG 1.82% UBS Group AG 1.80% AXA SA 1.77% BNP Paribas 1. Total 19.99% Total investments: 65 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan INTERNATIONAL EQUITY (TEMPLETON) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $30.44 Classic Series 75/75 Prestige % $30.58 Series 75/ % $29.71 Series 75/100 Prestige % $29.96 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to obtain longterm capital appreciation invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,545. This works out to an average return of 6.42% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 5 years and down in value 5 years. %

171 INTERNATIONAL EQUITY (TEMPLETON) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.91% 2.73% 3.21% 3.03% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 169 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

172 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Fidelity Investments Total Fund Value: $78.3 million Number of Units Outstanding: 5,050,895 Portfolio Turnover Rate: 10.18% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Fidelity Europe Fund, which invests in equities of large capitalization companies from continental Europe and the United Kingdom. Top 10 investments of the underlying fund Unilever, NV SAP AG Kering SA SHIRE PLC Bayer AG British American Tobacco PLC Sanofi LLC Moncler SpA Kerry Group PLC Munich Reinsurance Top 10 holdings represents 29.19% of the underlying fund s net assets. Total investments: 52 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FIDELITY EUROPEAN EQUITY FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $19.59 Classic Series 75/75 Prestige % $19.70 Series 75/ % $19.11 Series 75/100 Prestige % $19.30 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks capital growth potential invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,586. This works out to an average return of 6.82% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 6 years and down in value 4 years. %

173 FIDELITY EUROPEAN EQUITY FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.90% 2.65% 3.20% 2.95% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 171 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

174 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: BlackRock Total Fund Value: $139.0 million Number of Units Outstanding: 6,809,655 Portfolio Turnover Rate: 6.24% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan U.S. EQUITY INDEX (BLACKROCK) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $26.16 Classic Series 75/75 Prestige % $26.28 Series 75/ % $25.83 Series 75/100 Prestige % $26.07 WHAT DOES THIS FUND INVEST IN? The fund invests in units of the BlackRock CDN U.S. Equity Index Fund, Class D, which comprises of U.S. equity investments. Top 10 investments of the underlying fund Apple Inc. 3.71% Microsoft Corp. 2.82% Amazon.com Inc. 2.00% Facebook Inc., Class A 1.80% Berkshire Hathaway Inc., Class B 1.63% Johnson & Johnson 1.60% JPMorgan Chase & Co. 1.59% Exxon Mobil Corp. 1.51% Alphabet Inc., Class C 1.35% Alphabet Inc., Class A 1.34% Total 19.35% Total investments: 505 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks medium and longterm capital appreciation invests with average risk tolerance is planning to invest for the medium and long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $2,476. This works out to an average return of 13.85% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 9 years and down in value 1 year. % Investment segmentation of the underlying fund

175 U.S. EQUITY INDEX (BLACKROCK) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.72% 2.53% 3.00% 2.59% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 173 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

176 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $252.2 million Number of Units Outstanding: 11,006,622 Portfolio Turnover Rate: % Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan U.S. EQUITY FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $19.69 Classic Series 75/75 Prestige % $19.87 Series 75/ % $19.39 Series 75/100 Prestige % $19.64 WHAT DOES THIS FUND INVEST IN? This fund invests primarily in the equity securities of largecapitalization U.S. companies with solid financial statements. Top 10 investments Microsoft Corp. 4.64% Apple Inc. 4.61% Lowe s Companies Inc. 4.38% Morgan Stanley 3.92% Bank of America Corp. 3.03% JPMorgan Chase & Co. 3.01% Mondelez International Inc. 2.99% Citigroup Inc. 2.97% The Kraft Heinz Co. 2.79% Pfizer Inc. 2.52% Total 34.86% Total investments: 98 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital growth invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $2,225. This works out to an average return of 12.13% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. % Investment segmentation

177 HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. U.S. EQUITY FUND Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to Industrial Alliance. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.81% 2.43% 3.11% 2.62% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 175 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

178 Date of first offer under IAG SRP: May 16, 2016 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $5.0 million Number of Units Outstanding: 434,265 Portfolio Turnover Rate: 38.02% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? Invests in units of the U.S. Equity Fund, which invests primarily in the equity securities of largecapitalization U.S. companies with solid financial statements. The Fund also uses derivatives to try to minimize the exposure to currency fluctuations between developedmarket foreign currencies and the Canadian dollar. Top 10 investments Microsoft Corp. 4.64% Apple Inc. 4.61% Lowe s Companies Inc. 4.38% Morgan Stanley 3.92% Bank of America Corp. 3.03% JPMorgan Chase & Co. 3.01% Mondelez International Inc. 2.99% Citigroup Inc. 2.97% The Kraft Heinz Co. 2.79% Pfizer Inc. 2.52% Total 34.86% Total investments: 11 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital growth wants to gain U.S. equity exposure while seeking to lower the risk of currency fluctuations between developedmarket foreign currencies and the Canadian dollar invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan U.S. EQUITY CURRENCY NEUTRAL FUND Information as at December 31, 2017 QUICK FACTS 20 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 40 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 176 Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $11.43 Classic Series 75/75 Prestige % $11.49 Series 75/ % $11.34 Series 75/100 Prestige % $11.44 Investment segmentation HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,152. This works out to an average return of 9.10% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. %

179 U.S. EQUITY CURRENCY NEUTRAL FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.76% 2.40% 3.06% 2.70% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 177 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

180 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $196.9 million Number of Units Outstanding: 9,825,680 Portfolio Turnover Rate: 6.64% Minimum Investment: $25 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan U.S. DIVIDEND GROWTH FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $22.50 Classic Series 75/75 Prestige % $22.72 Series 75/ % $21.85 Series 75/100 Prestige % $22.11 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington U.S. Dividend Growth Fund, which invests in stocks of high performing U.S. large capitalization companies. Top 10 investments of the underlying fund Apple Inc. 4.65% Microsoft Corp. 4.62% Lowe s Companies Inc. 4.42% Morgan Stanley 3.91% Citigroup Inc. 3.50% Mondelez International Inc. 3.15% Bank of America Corp. 3.02% JPMorgan Chase & Co. 3.00% The Kraft Heinz Co. 2.81% Pfizer Inc. 2.76% Total 35.84% Total investments: 89 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks capital appreciation invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $2,084. This works out to an average return of 11.08% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 8 years and down in value 2 years. % Investment segmentation of the underlying fund For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

181 U.S. DIVIDEND GROWTH FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.64% 2.23% 2.94% 2.53% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 179 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

182 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Sarbit Advisory Services Inc. Total Fund Value: $79.9 million Number of Units Outstanding: 3,704,087 Portfolio Turnover Rate: 3.32% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the IA Clarington Sarbit U.S. Equity Fund, which invests in a select number of publicly traded equity securities, mainly common shares of various U.S. companies. Top 10 investments of the underlying fund Berkshire Hathaway Finance Corp., Class B 7.76% Lions Gate Entertainment Corp., Class B 7.16% Liberty SiriusXM Group 6.06% Lions Gate Entertainment Corp. 6.05% Imax Corp. 6.04% TMobile USA Inc. 5.26% Ituran Location and Control Ltd. 2.13% Total 40.46% Total investments: 21 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan U.S. EQUITY (SARBIT) CURRENCY NEUTRAL FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $22.22 Classic Series 75/75 Prestige % $22.33 Series 75/ % $21.76 Series 75/100 Prestige % $21.95 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks capital preservation and appreciation invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,569. This works out to an average return of 6.66% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 8 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 1 year. %

183 U.S. EQUITY (SARBIT) CURRENCY NEUTRAL FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 2.83% 2.62% 3.13% 2.90% Fund Fee Rate 0.30% 0.30% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 181 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

184 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Dynamic Funds Total Fund Value: $60.5 million Number of Units Outstanding: 11,611,085 Portfolio Turnover Rate: 8.09% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Dynamic Asia Pacific Equity Fund, which invests in a selection of equities of large capitalization companies located in the entire Pacific region including Japan. Top 10 investments of the underlying fund Baidu Inc. 3.60% Fosun International Ltd. 3.60% Alibaba Group Holding Ltd. 3.50% The Swatch Group AG 3.50% Square Enix Holdings Co., Ltd. 3.30% Hengan International Group Company Ltd. 3.20% Li Ning Co Ltd. 3.20% Sony Corp. 3.20% Industrial & Commercial Bank of China Ltd. 3.10% Tsingtao Brewery Co., Ltd 3.10% Total 33.30% Total investments: 46 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan ASIAN PACIFIC (DYNAMIC) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $3.70 Classic Series 75/75 Prestige % $3.72 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital growth invests with above average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,357. This works out to an average return of 4.46% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. %

185 ASIAN PACIFIC (DYNAMIC) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige MER* (Annual rate as a % of the fund value) $3.10 $2.90 Fund Fee Rate * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 183 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

186 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Mackenzie Investments Total Fund Value: $33.9 million Number of Units Outstanding: 1,858,903 Portfolio Turnover Rate: 12.88% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Mackenzie Emerging Market Opportunities Class, which invests in equities of large capitalization companies in emerging markets located around the world. Top 10 investments of the underlying fund Tencent Holdings Ltd. 8.00% Taiwan Semiconductor Manufacturing Co. Ltd. 5.70% Samsung Electronics Co. Ltd., Sponsored GDR 5.30% Housing Development Finance Corp. 4.60% AIA Group Ltd. 4.10% Alibaba Group Holding Ltd. 4.10% HDFC Bank Ltd. 3.70% Ping An Insurance Group Co of China Ltd. 3.60% Sberbank of Russia PJSC 2.50% Kholdingovaya Kompaniya Sibirskiy Tsement AO 2.40% Total 44.00% Total investments: 75 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan EMERGING MARKETS (MACKENZIE) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $22.56 Classic Series 75/75 Prestige % $22.71 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks longterm capital appreciation invests with high risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $909. This works out to an average return of 1.36% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 6 years and down in value 4 years. % For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options

187 EMERGING MARKETS (MACKENZIE) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige MER* (Annual rate as a % of the fund value) 3.61% 3.35% Fund Fee Rate * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 185 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

188 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: CIBC Asset Management Total Fund Value: $126.7 million Number of Units Outstanding: 3,250,981 Portfolio Turnover Rate: 8.73% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of the Renaissance Global Health Care Fund, which mainly invests in medium and large capitalization companies engaged in the design, development, manufacturing and distribution of products or services in the healthcare sector. Top 10 investments of the underlying fund BristolMyers Squibb Co. 6.07% UnitedHealth Group Inc. 5.49% Novartis AG 4.35% Eli Lilly and Co. 4.30% Medtronic Inc. 4.30% AstraZeneca Group PLC 3.77% Allergan Inc. 3.76% Boston Scientific Corp. 3.35% Johnson & Johnson 2.84% Celgene Corp. 2.80% Total 41.03% Total investments: 63 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan GLOBAL HEALTH CARE (RENAISSANCE) FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $44.26 Classic Series 75/75 Prestige % $44.49 Investment segmentation of the underlying fund WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to obtain a high capital appreciation invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $2,826. This works out to an average return of 16.03% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. %

189 GLOBAL HEALTH CARE (RENAISSANCE) FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige MER* (Annual rate as a % of the fund value) 3.42% 3.21% Fund Fee Rate * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 187 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

190 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $40.4 million Number of Units Outstanding: 1,146,030 Portfolio Turnover Rate: 14.49% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund mainly invests in trust units of Canadian companies and shortterm fixedincome securities issued and guaranteed by the federal and provincial governments as well as Canadian corporations. Top 10 investments H&R Real Estate Investment Trust 7. Canadian Real Estate Investment Trust 7.11% Boardwalk Real Estate Investment Trust 6.86% Canadian Apartment Properties Real Estate Investment Trust 6.10% RioCan Real Estate Investment Trust 5.13% Allied Properties Real Estate Investment Trust 5.00% Granite Real Estate Investment Trust 3.84% InterRent Real Estate Investment Trust 3.70% Smart Real Estate Investment Trust 3.31% Chartwell Retirement Residences 3.19% Total 51.99% Total investments: 46 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan REAL ESTATE INCOME FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $38.93 Classic Series 75/75 Prestige % $39.32 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to obtain a regular longterm income invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,631. This works out to an average return of 7.25% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 7 years and down in value 3 years. %

191 REAL ESTATE INCOME FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige MER* (Annual rate as a % of the fund value) 2.77% 2.32% Fund Fee Rate * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 189 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

192 Date of first offer under IAG SRP: January 4, 2011 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $103.1 million Number of Units Outstanding: 6,260,380 Portfolio Turnover Rate: 1.11% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? This fund invests in units of PowerShares QQQ Trust, which seeks to replicate the NASDAQ 100 Index. This index is characterized by the securities of companies that offer promising products and services such as telecommunications equipment, computer services, hightechnology products, etc. Top 10 investments of the Nasdaq 100 Index Apple Inc % Microsoft Corp. 9.01% Amazon.com Inc. 7.69% Facebook Inc. 5. Alphabet Inc., Class C 4.99% Alphabet Inc., Class A 4.29% Intel Corp. 2.95% Cisco Systems Inc. 2.59% Comcast Corp. 2.55% Amgen Inc. 1.72% Total 53.40% Total investments: 106 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan U.S. DAQ INDEX FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $18.13 Classic Series 75/75 Prestige % $18.22 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks capital appreciation invests with average risk tolerance is planning to invest for the medium to long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $3,096. This works out to an average return of 17.55% a year. YEARBYYEAR RETURNS This chart shows how the fund has performed for the last 10 years. Had the fund been offered in the IAG SRP Classic Series 75/75 guarantee option prior to 2012, its return would likely have been similar. From 2012 onward, the chart shows how the fund has performed in the product and series aforementioned. During this period, the fund was up in value 9 years and down in value 1 year. %

193 U.S. DAQ INDEX FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige MER* (Annual rate as a % of the fund value) 2.91% 2.70% Fund Fee Rate * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.08% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 191 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

194 Date of first offer under IAG SRP: December, Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $1.0 million Number of Units Outstanding: 74,408 Portfolio Turnover Rate: 10.74% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? The Fund invests in underlying investments that aim to reproduce market indices of both domestic and foreign fixed income and equity markets. Moreover, the asset allocation of this Fund is more heavily oriented towards fixed income securities. The target allocation is 70% in fixed income funds and 30% in equity funds. Top 10 investments of the underlying fund Investment segmentation of the underlying fund TD Emerald Canadian Bond PFT 49.77% Vanguard Global excanada Fixed Income Index Pooled Fund (CADhedged) 20.26% Industrial Alliance Canadian Equity Index Fund 10.06% BlackRock CDN MSCI EAFE Equity Index Fund, Class D 8.97% BlackRock CDN US Equity Index Fund, Class D 8.86% BlackRock CDN MSCI Emerging Markets Index, Class D 2.04% Other Assets 0.04% Total % Total investments: 6 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan INDEXIA PRUDENT Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $9.95 Classic Series 75/75 Prestige % $9.95 Series 75/ % $9.95 Series 75/100 Prestige % $9.95 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks a regular longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN Performance data cannot be published for funds that have been in existence for less than 1 year. YEARBYYEAR RETURNS Performance data cannot be published for funds that have been in existence for less than 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 192

195 HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. INDEXIA PRUDENT Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 1.95% 1.90% 2.30% 2.25% Fund Fee Rate 0.10% 0.10% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.06% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 193 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

196 Date of first offer under IAG SRP: December 4, 2017 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $0.7 million Number of Units Outstanding: 116,127 Portfolio Turnover Rate: 1.81% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? The Fund invests in underlying investments that aim to reproduce market indices of both domestic and foreign fixed income and equity markets. Moreover, the asset allocation of this Fund is fairly balanced between fixed income and equity securities. The target allocation is 55% in fixed income funds and 45% in equity funds. Top 10 investments of the underlying fund Investment segmentation of the underlying fund TD Emerald Canadian Bond PFT 37.02% Industrial Alliance Canadian Equity Index Fund 15.15% Vanguard Global excanada Fixed Income Index Pooled Fund (CADhedged) 15.08% BlackRock CDN MSCI EAFE Equity Index Fund, Class D 11.13% BlackRock CDN US Equity Index Fund, Class D 10.99% Other Assets 8.11% BlackRock CDN MSCI Emerging Markets Index, Class D 2.52% Total % Total investments: 6 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan INDEXIA MODERATE Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $9.96 Classic Series 75/75 Prestige % $9.96 Series 75/ % $9.96 Series 75/100 Prestige % $9.96 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks a high longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN Performance data cannot be published for funds that have been in existence for less than 1 year. YEARBYYEAR RETURNS Performance data cannot be published for funds that have been in existence for less than 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 194

197 HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. INDEXIA MODERATE Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 1.95% 1.90% 2.30% 2.25% Fund Fee Rate 0.10% 0.10% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.06% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 195 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

198 Date of first offer under IAG SRP: December 4, 2017 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $1.2 million Number of Units Outstanding: 79,381 Portfolio Turnover Rate: 7.61% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? The Fund invests in underlying investments that aim to reproduce market indices of both domestic and foreign fixed income and equity markets. Moreover, the asset allocation of this Fund is fairly balanced between fixed income and equity securities. The target allocation is 40% in fixed income funds and 60% in equity funds. Top 10 investments of the underlying fund Investment segmentation of the underlying fund TD Emerald Canadian Bond PFT 25.07% Industrial Alliance Canadian Equity Index Fund 20.32% BlackRock CDN MSCI EAFE Equity Index Fund, Class D 17.82% BlackRock CDN US Equity Index Fund, Class D 17.65% Vanguard Global excanada Fixed Income Index Pooled Fund (CADhedged) 14.91% BlackRock CDN MSCI Emerging Markets Index, Class D 3.20% Other Assets 1.03% Total % Total investments: 6 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan INDEXIA BALANCED Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $9.95 Classic Series 75/75 Prestige % $9.95 Series 75/ % $9.95 Series 75/100 Prestige % $9.95 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to generate a superior longterm return invests with below average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN Performance data cannot be published for funds that have been in existence for less than 1 year. YEARBYYEAR RETURNS Performance data cannot be published for funds that have been in existence for less than 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 196

199 HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. INDEXIA BALANCED Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 1.95% 1.90% 2.30% 2.25% Fund Fee Rate 0.10% 0.10% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.06% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 197 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

200 Date of first offer under IAG SRP: December 4, 2017 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $0.8 million Number of Units Outstanding: 92,139 Portfolio Turnover Rate: 0.00% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? The Fund invests in underlying investments that aim to reproduce market indices of both domestic and foreign fixed income and equity markets. Moreover, the asset allocation of this Fund is more oriented towards equity securities. The target allocation is 25% in fixed income funds and in equity funds. Top 10 investments of the underlying fund Investment segmentation of the underlying fund Industrial Alliance Canadian Equity Index Fund 24.73% BlackRock CDN MSCI EAFE Equity Index Fund, Class D 21.33% BlackRock CDN US Equity Index Fund, Class D 21.17% TD Emerald Canadian Bond PFT 14.38% Vanguard Global excanada Fixed Income Index Pooled Fund (CADhedged) 9.58% BlackRock CDN MSCI Emerging Markets Index, Class D 4.83% Other Assets 3.98% Total % Total investments: 6 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan INDEXIA GROWTH Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $9.96 Classic Series 75/75 Prestige % $9.96 Series 75/ % $9.95 Series 75/100 Prestige % $9.96 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to maximize the longterm return invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN Performance data cannot be published for funds that have been in existence for less than 1 year. YEARBYYEAR RETURNS Performance data cannot be published for funds that have been in existence for less than 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 198

201 HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. INDEXIA GROWTH Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 1.95% 1.90% 2.30% 2.25% Fund Fee Rate 0.20% 0.20% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.06% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 199 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

202 Date of first offer under IAG SRP: December 4, 2017 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $0.9 million Number of Units Outstanding: 195,988 Portfolio Turnover Rate: 6.79% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? The Fund invests in underlying investments that aim to reproduce market indices of both domestic and foreign fixed income and equity markets. Moreover, the asset allocation of this Fund is more oriented towards equity securities. The target allocation is 10% in fixed income funds and 90% in equity funds. Top 10 investments of the underlying fund Investment segmentation of the underlying fund Industrial Alliance Canadian Equity Index Fund 30.36% BlackRock CDN MSCI EAFE Equity Index Fund, Class D 26.85% BlackRock CDN US Equity Index Fund, Class D 26.62% BlackRock CDN MSCI Emerging Markets Index, Class D 5.71% Vanguard Global excanada Fixed Income Index Pooled Fund (CADhedged) 4.99% TD Emerald Canadian Bond PFT 4.97% Other Assets 0.50% Total % Total investments: 6 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan INDEXIA AGGRESSIVE Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit Classic Series 75/ % $9.92 Classic Series 75/75 Prestige % $9.92 Series 75/ % $9.92 Series 75/100 Prestige % $9.92 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks to maximize the longterm return invests with average risk tolerance is planning to invest for the long term HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the Classic Series 75/75 guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN Performance data cannot be published for funds that have been in existence for less than 1 year. YEARBYYEAR RETURNS Performance data cannot be published for funds that have been in existence for less than 1 year. ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 For details on the Prestige Fee Reduction Series refer to Section 2.7 of the IAG Savings and Retirement Plan Individual Variable Annuity Contract 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. 200

203 INDEXIA AGGRESSIVE HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 5.6% to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Classic Series 75/75 guarantee. You don t pay these expenses directly but they will reduce the return on your investment. An additional fee appplies to the Series 75/100 and the Series 75/100 Prestige guarantee options and is paid out of the contract each year. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death Classic Series 75/75 Classic Series 75/75 Prestige Series 75/100 Series 75/100 Prestige MER* (Annual rate as a % of the fund value) 1.95% 1.90% 2.30% 2.25% Fund Fee Rate 0.20% 0.20% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.06% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 201 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

204 Date of first offer under IAG SRP: November 24, 2014 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $66.5 million Number of Units Outstanding: 6,260,877 Portfolio Turnover Rate: 21.46% Minimum Investment: $25 Elligible Income Stage Fund for the Minimum Income WHAT DOES THIS FUND INVEST IN? The fund primarily invests in corporate debt investments, private investments and government debt securities. FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FORLIFE GUARANTEED MAXIMUM INCOME FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 2 Net Asset Value per Unit FORLIFE Series % $10.61 Top 10 investments Province of Ontario, 2.900%, % Province of Ontario, 2.800%, % MaRS Phase 2 Investment Trust, 4.566%, % TransCanada PipeLines Ltd., 4.550%, % Coulonge Power & Co., 4.487%, % The TorontoDominion Bank, Fixed Floating Rate, 4.859%, % Powell River Energy Inc., 4.450%, % FortisAlberta Inc., 6.220%, % Iohkwahs S.E.C., 3.999%, % 407 International Inc., 6.470%, % Total 31.72% Total investments: 72 WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks recurring income with an emphasis on capital preservation HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high ARE THERE ANY GUARANTEES? High This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. 1 Fund offered for the FORLIFE Series Income Stage only. For details, refer to Section 6 of the IAG Savings and Retirement Plan Information Folder. 2 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the FORLIFE Series guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,060. This works out to an average return of 1.89% a year. YEARBYYEAR RETURNS This chart shows how the segregated fund has performed for the last 3 years. In this period, the fund was up in value 2 years and down in value 1 year. % Investment segmentation

205 FORLIFE GUARANTEED MAXIMUM INCOME FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 3. to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 3. to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Income Stage guarantee of the FORLIFE Series. The insurance fee included in the MER is 0.. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death MER* (Annual rate as a % of the fund value) Fund Fee Rate FORLIFE Series 2.84% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.04% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 203 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

206 Date of first offer under IAG SRP: November 24, 2014 Portfolio Advisor: Industrial Alliance Investment Management Inc. Total Fund Value: $8.8 million Number of Units Outstanding: 824,054 Portfolio Turnover Rate: 23.14% Minimum Investment: $25 WHAT DOES THIS FUND INVEST IN? The fund invests through careful diversification of bond securities from Canadian governments and corporations, Canadian equities and foreign equities. Top investments Industrial Alliance Bond Fund % Industrial Alliance Canadian Equity Index Fund 15.15% BlackRock CDN US Equity Index Fund, Class D 10.01% BlackRock CDN MSCI EAFE Equity Index Fund, Class D 4.97% Other Assets 0.06% Total % Total investments: 4 FUND FACTS Industrial Alliance Insurance and Financial Services Inc. IAG Savings and Retirement Plan FORLIFE GUARANTEED INCOME & GROWTH FUND Information as at December 31, 2017 QUICK FACTS Guarantee Option MER 3 Net Asset Value per Unit FORLIFE Series % $10.68 Investment segmentation WHO IS THIS FUND FOR? The fund may be suitable for an investor who: seeks recurring income with an emphasis on longterm growth HOW RISKY IS IT? The value of your investment can go down. Please refer to the information folder for further details. Very low Low RISK LEVEL Low to moderate to high High ARE THERE ANY GUARANTEES? This fund is offered under an insurance contract. It comes with guarantees that may protect your investment if the markets go down. You pay fees for the guarantees. The fees are summarized in the Ongoing Fund Expenses section. HOW HAS THE FUND PERFORMED? This section tells you how the fund has performed over the past years for a policyholder who chose the FORLIFE Series guarantee option. Returns shown are after the MER has been deducted. Important: Past performance does not indicate how the fund will perform in the future. Also, your actual return will depend on the guarantee option you choose, any changes you made to your investment and your personal tax situation. AVERAGE RETURN A person who invested $1,000 in the fund 10 years ago (or since the date it was first offered under IAG SRP if less than 10 years) now has $1,066. This works out to an average return of 2.07% a year. YEARBYYEAR RETURNS This chart shows how the segregated fund has performed for the last 3 years. In this period, the fund was up in value 3 years and down in value 0 year(s). 1 Fund offered for the FORLIFE Series Income Stage only. For details, refer to Section 6 of the IAG Savings and Retirement Plan Information Folder. 2 For details on the Industrial Alliance Bond Fund top investments refer to the corresponding Fund facts included in this document 3 ia Financial Group is currently waiving a portion of the operating expenses for this fund and can terminate the waiver at any time without notice. For the period ending December 31, 2017, the waiver was set at 0.05% for all guarantee options. %

207 FORLIFE GUARANTEED INCOME & GROWTH FUND HOW MUCH DOES IT COST? The following tables show the fees and expenses you could pay to buy, own and sell units of the fund. The ongoing fees and expenses are different for each guarantee option. One of the following sales charges will apply, see information folder or contract for full details or discuss with your life insurance agent. Sales Charge Option No Sales Charge Front End Sales Charge Deferred Sales Charge What You Pay There is no initial charge or surrender charge when you invest and if you surrender. Up to 5% of the amount to be invested in the fund. If you surrender within: 1 st year 5.5% 2 nd and 3 rd year 5.0% 4 th and 5 th year 4.0% 6 th year 3.0% 7 th year 2.0% After 7 years 0.0% How It Works When you invest in the fund, ia Financial Group pays a commission of up to 3. to your life insurance agent and his/her agency. You and your life insurance agent decide on the rate. This sales charge is deducted from the amount invested and is paid as a commission to your life insurance agent and his/her agency. When you invest in the fund, ia Financial Group pays a commission of up to 3. to your life insurance agent and his/her agency. Any deferred sales charges paid go to ia Financial Group. The deferred sales charge is a fixed rate and is deducted from the amount you surrender. You have the right to surrender up to 10% of the market value of your units each year, without a surrender fee. You may switch to units of another fund under the contract at any time without paying a deferred sales charge. ONGOING FUND EXPENSES The MER includes the management fee and operating expenses of the fund. It also includes the insurance fee associated with the Income Stage guarantee of the FORLIFE Series. The insurance fee included in the MER is 0.. For details about how the guarantees work, please refer to the information folder and contract. Guarantee Option Maturity Death MER* (Annual rate as a % of the fund value) Fund Fee Rate FORLIFE Series 3.10% * MER shown may differ from actual MER. TRAILING COMMISSION Each month, ia Financial Group pays a trailing commission of up to 0.04% of the monthly average market value of your investment in this fund. This commission is for the ongoing service and advice your life insurance agent and his/her agency provide. The trailing commission is included in the management fees. The rate depends on the sales charge option you choose. OTHER FEES You may have to pay other fees when you surrender or transfer investments in this fund. A transaction fee of $35 may be charged for a surrender or transfer in accordance with administrative policies in force. If you surrender or transfer an investment in the funds within 90 days of the investment date, you may have to pay a frequent trading fee equal to 2% of the market value of this investment. These fees are reinvested in the fund. WHAT IF I CHANGE MY MIND? You may change your mind within two business days of the earlier of: the date you received confirmation or You may also change your mind about subsequent transactions you make under the contract within two business days of the earlier of: the date you received confirmation of the transaction or In this case the right to cancel only applies to the new transaction. You have to tell the insurer in writing, by , fax or letter, that you want to cancel. The amount returned will be the lesser of: the value of the premium invested or the value of the investment on the valuation day following the day ia Financial Group received your request to cancel. The amount returned only applies to the specific transaction and will include a refund of any sales charges you paid. 205 FOR MORE INFORMATION This summary may not contain all the information you need. Please read the information folder and the contract. Industrial Alliance Insurance and Financial Services Inc Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M Website: ia.ca

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212 Fund Facts As at December 31, 2017 About ia Financial Group Founded in 1892, ia Financial Group offers life and health insurance products, mutual and segregated funds, savings and retirement plans, RRSPs, securities, auto and home insurance, mortgages and car loans and other financial products and services for both individuals and groups. It is one of the four largest life and health insurance companies in Canada and one of the largest publicly traded companies in the country. ia Financial Group stock is listed on the Toronto Stock Exchange under the ticker symbol IAG. F14A10(1805) For any comments or additional information regarding ia Financial Group, please contact the head office: ia Financial Group 1080 Grande Allée West PO Box 1907, Station Terminus Quebec City, QC G1K 7M The contract is administered by Industrial Alliance Insurance and Financial Services Inc., which is incorporated under An Act respecting insurance (Quebec). ia Financial Group is a business name and trademark of Industrial Alliance Insurance and Financial Services Inc. ia.ca