STATE STREET GLOBAL ADVISORS MULTI-ACCESS FUNDS. Financial Statements as at December 31, 2014

STATE STREET GLOBAL ADVISORS MULTI-ACCESS FUNDS Financial Statements as at 2014

March 23, 2015 Independent Auditor s Report To the Unitholders of SSgA MA Canadian Equity Index Plus Fund SSgA MA Canadian Long Term Bond Index Fund SSgA MA S&P/TSX Capped Composite Index Fund SSgA MA Canadian Universe Bond Index Fund SSgA MA Canadian Managed Volatility Fund SSgA MA Canadian Dividend Tilted Fund SSgA MA Global Managed Volatility Fund (collectively the Funds ) We have audited the accompanying financial statements of each of the Funds, which comprise the statements of financial position as at 2014, and January 1, or the date of inception for Funds with inception dates after January 1, as indicated in the statements of financial position of each of the Funds and the statements of comprehensive income, changes in net assets attributable to holders of redeemable units and cash flows for the years or periods ended 2014 and, as indicated in the statements of comprehensive income of each of the Funds, and the related notes, which comprise a summary of significant accounting policies and other explanatory information. Management s responsibility for the financial statements The Funds Manager and Trustee are responsible for the preparation and fair presentation of the financial statements of each of the Funds in accordance with International Financial Reporting Standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor s responsibility Our responsibility is to express an opinion on the financial statements of each of the Funds based on our audits. We conducted our audits in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. PricewaterhouseCoopers LLP/s.r.l./s.e.n.c.r.l. 1250 René-Lévesque Boulevard West, Suite 2800, Montréal, Quebec, Canada H3B 2G4 T: +1 514 205 5000, F: +1 514 876 1502, www.pwc.com/ca PwC refers to PricewaterhouseCoopers LLP/s.r.l./s.e.n.c.r.l., an Ontario limited liability partnership.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Manager, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained in each of our audits is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements of each of the Funds present fairly, in all material respects, the financial position of each of the Funds as at 2014, and January 1, or the date of inception for Funds with inception dates after January 1, as indicated in the statements of financial position of each of the Funds and the financial performance and cash flows of each of the Funds for the years or periods ended 2014 and as indicated in the statements of comprehensive income of each of the Funds in accordance with International Financial Reporting Standards. 1 CPA auditor, CA, public accountancy permit No. A123633 (2)

SSgA MA Canadian Equity Index Plus Fund Statements of financial position Assets As at 2014 As at As at January 1, Current assets Investments* 125,129,399 213,295,278 123,366,499 Cash 1,174,025 1,555,219 793,197 Receivable for investments sold - - 60,042 Dividends receivable 316,198 550,787 362,451 Total assets 126,619,622 215,401,284 124,582,189 Liabilities Current liabilities Payable for units redeemed 467,751 491,453 - Accrued expenses 2,258 13,483 8,330 Total liabilities 470,009 504,936 8,330 Net assets attributable to holders of redeemable units 126,149,613 214,896,348 124,573,859 Number of redeemable units outstanding 11,172,984 16,851,087 10,895,783 Net assets attributable to holders of redeemable units per unit 11.29 12.75 11.43 * Investments at cost 107,184,543 188,341,138 118,784,542 Approved by the Trustee, State Street Trust Company Canada Robert Baillie, President and CEO Stephen Baker, Vice President

SSgA MA Canadian Equity Index Plus Fund Statements of comprehensive income For the years ended 2014 Investment income Dividends 4,271,925 5,435,866 Interest for distribution purposes 65,920 177,365 Other changes in fair of investments and derivatives Net realized gain (loss) 22,436,725 (214,661) Net change in unrealized appreciation (depreciation) (7,008,952) 20,371,552 Total income (loss) 19,765,618 25,770,122 Expenses Audit fees 27,064 23,382 Custodial fees 40,650 48,854 Regulatory fees 1,134 203 Transaction costs 168,243 150,429 Total expenses 237,091 222,868 Increase (decrease) in net assets attributable to holders of redeemable units 19,528,527 25,547,254 Increase (decrease) in net assets attributable to holders of redeemable units per unit for the year 1.59 1.63

SSgA MA Canadian Equity Index Plus Fund Statements of changes in net assets attributable to holders of redeemable units For the years ended 2014 Increase (decrease) in net assets attributable to holders of redeemable units 19,528,527 25,547,254 Distributions to holders of redeemable units From net investment income (4,490,002) (5,365,526) From capital gains (21,114,379) - Total distributions to holders of redeemable units (25,604,381) (5,365,526) Redeemable unit transactions Proceeds from redeemable units issued 10,603,853 77,575,383 Reinvestment of distributions to holders of redeemable units 25,604,381 5,365,526 Redemption of redeemable units (118,879,115) (12,800,148) Increase (decrease) from redeemable unit transactions (82,670,881) 70,140,761 Net increase (decrease) in net assets attributable to holders of redeemable units (88,746,735) 90,322,489 Net assets attributable to holders of redeemable units Beginning of year 214,896,348 124,573,859 Net assets attributable to holders of redeemable units End of year 126,149,613 214,896,348 Number of redeemable units outstanding Beginning of year 16,851,087 10,895,783 Issued 767,318 6,589,477 Reinvested 2,208,949 453,182 Redeemed (8,654,370) (1,087,355) Number of redeemable units outstanding End of year 11,172,984 16,851,087

SSgA MA Canadian Equity Index Plus Fund Statements of cash flows For the years ended 2014 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units 19,528,527 25,547,254 Adjustments for: Net realized (gain) loss on investments (22,371,197) 252,185 Net change in unrealized (appreciation) depreciation on investments and derivatives 7,009,284 (20,372,183) Proceeds from sale of investments 187,222,653 107,163,623 Purchases of investments (83,694,861) (176,912,362) Dividends receivable 234,589 (188,336) Accrued expenses (11,225) 5,153 Net cash from (used in) operating activities 107,917,770 (64,504,666) Cash flows from (used in) financing activities Proceeds from redeemable units issued 10,603,853 77,575,383 Redemption of redeemable units (118,902,817) (12,308,695) Net cash from (used in) financing activities (108,298,964) 65,266,688 Net increase (decrease) in cash during the year (381,194) 762,022 Cash Beginning of year 1,555,219 793,197 Cash End of year 1,174,025 1,555,219 Interest received* 65,920 177,365 Dividends received, net of foreign withholding taxes* 4,506,514 5,247,530 * Included as part of cash flows from operating activities

SSgA MA Canadian Equity Index Plus Fund Schedule of investment portfolio As at 2014 (showing percentage of total fair of investments) Number of shares Description Average cost Fair Common stock 100.0% 29,977 Agnico-Eagle Mines Limited 1,047,740 866,935 4,297 Agrium Inc. 424,796 472,670 11,835 Aimia Inc. 225,122 172,909 83,515 Air Canada 843,961 991,323 216,303 Alacer Gold Corporation 512,186 503,986 48,680 Algonquin Power & Utilities Corp. 436,577 469,275 44,395 Alimentation Couche-Tard Inc. Cl. B Sub. Voting 1,173,615 2,161,593 42,991 ARC Resources Ltd. 1,289,190 1,081,654 49,641 Artis Real Estate Investment Trust 769,129 703,909 19,351 Avigilon Corporation 351,337 371,152 48,389 Bank of Montreal 2,923,682 3,976,608 73,871 Bank of Nova Scotia (The) 4,220,173 4,898,386 135,595 Bankers Petroleum Ltd. 491,558 442,040 121,201 Barrick Gold Corporation 3,390,227 1,517,437 47,564 BCE Inc. 2,006,301 2,534,210 20,224 BlackBerry Limited 207,116 257,654 9,356 Boardwalk Real Estate Investment Trust 555,744 575,768 12,141 Bombardier Inc. Cl. B 47,237 50,385 27,010 Brookfield Asset Management Inc. Cl. A Limited Voting 984,504 1,572,522 7,051 Canaccord Financial Inc. 72,195 55,068 18,863 Canadian Apartment Properties Real Estate Investment Trust 483,159 474,027 33,075 Canadian Imperial Bank of Commerce 2,625,171 3,302,208 63,499 Canadian National Railway Company 3,247,941 5,081,190 89,808 Canadian Natural Resources Ltd. 2,935,754 3,225,903 9,482 Canadian Pacific Railway Limited 1,106,064 2,121,597 9,199 Canadian Tire Corporation, Limited Cl. A 1,008,834 1,129,085 14,698 Canadian Utilities Limited Cl. A 520,708 601,295 29,163 Canfor Corporation 494,767 864,391 9,243 Capital Power Corp. 223,490 240,318 13,256 Catamaran Corporation 635,182 796,951 2,311 CCL Industries Inc. Cl. B 103,279 290,886 39,543 Cenovus Energy Inc. 1,294,911 947,846 33,700 CGI Group Inc. Cl. A Sub. Voting 1,164,212 1,492,573 11,584 CI Financial Corporation 306,121 374,047 11,567 Cogeco Cable Inc. 696,631 828,660 32,475 Cominar Real Estate Investment Trust 608,033 604,360 3,026 Corus Entertainment Inc. Cl. B Non-Voting 73,363 69,447 4,175 Cott Corporation 33,290 33,442 12,882 Crescent Point Energy Corp. 546,719 346,655 3,187 Dollarama Inc. 163,978 189,308 43,205 Dominion Diamond Corporation 628,896 901,688 26,014 Eldorado Gold Corporation 169,614 184,179 1,864 Element Financial Corporation 24,640 26,357 26,496 Emera Inc. 901,074 1,023,805 7,504 Empire Company Limited Cl. A 597,638 657,500 49,260 Enbridge Inc. 2,065,331 2,942,792 23,119 Enbridge Income Fund Holding Inc. 696,994 932,852 78,794 EnCana Corporation 1,681,704 1,274,099 35,272 Enerflex Ltd. 449,070 578,108 26,472 Enerplus Corp. 431,124 296,222 233 Fairfax Financial Holdings Limited, Sub. Voting 109,184 141,846 16,918 Finning International Inc. 475,266 426,841 13,022 First Quantum Minerals Ltd. 258,332 214,993 12,040 FirstService Corporation Sub. Voting 632,967 713,731 2,027 Fortis Inc. 77,857 78,972 20,438 Franco-Nevada Corporation 951,725 1,169,258 6,520 George Weston Limited 535,204 654,282 28,808 Gibson Energy Inc. 912,080 783,290

SSgA MA Canadian Equity Index Plus Fund Schedule of investment portfolio... continued As at 2014 (showing percentage of total fair of investments) Number of shares Description Average cost Fair Common stock... continued 29,734 Goldcorp Inc. 1,135,862 639,578 92,051 Gran Tierra Energy, Inc. 724,489 410,547 36,273 Great-West Lifeco Inc. 907,278 1,218,410 45,958 H&R Real Estate Investment Trust 947,462 998,667 15,724 Home Capital Group Inc. 441,655 754,595 38,589 Husky Energy Inc. 1,197,888 1,061,197 26,222 Imperial Oil Ltd. 1,366,597 1,312,411 7,123 Innergex Renewable Energy Inc. 78,917 80,917 1,085 Intact Financial Corporation 83,442 90,977 5,386 Inter Pipeline Ltd. 186,926 193,573 78,800 ishares S&P/TSX 60 Index Fund 1,676,727 1,691,836 10,440 Keyera Corp. 969,888 846,371 138,400 Kinross Gold Corp. 1,151,284 451,184 14,758 Laurentian Bank of Canada 739,845 737,457 3,915 Linamar Corporation 134,662 277,769 4,935 Loblaw Companies Limited 249,520 306,809 56,935 Lundin Mining Corporation 311,207 325,668 2,379 MacDonald, Dettwiler and Associates Ltd. 203,415 225,886 19,785 Magna International Inc. 1,002,641 2,490,734 766 Manitoba Telecom Services Inc. 22,430 20,751 118,810 Manulife Financial Corporation 1,810,133 2,635,206 2,631 Maple Leaf Foods Inc. 51,115 51,226 15,428 Methanex Corporation 767,605 823,392 8,852 Metro Inc. 648,392 825,892 34,362 National Bank of Canada 1,360,062 1,698,857 87,983 Nevsun Resources Ltd. 333,281 394,164 242,854 OceanaGold Corporation 617,157 490,565 18,031 Open Text Corporation 645,774 1,219,076 73,495 Parex Resources Inc. 882,884 557,092 25,183 Pason Systems Inc. 391,257 551,256 7,393 Pembina Pipeline Corporation 265,709 313,020 38,195 Penn West Petroleum Ltd. 398,721 92,814 54,722 Potash Corporation of Saskatchewan Inc. 2,325,611 2,247,433 25,384 Power Corporation of Canada 669,898 806,196 32,583 Power Financial Corporation 995,737 1,178,853 26,869 Quebecor Inc. Cl. B 754,841 858,196 84,130 Raging River Exploration Inc. 721,423 617,514 6,781 Restaurant Brands International Inc. 283,310 308,536 25,492 RMP Energy Inc. 167,755 116,753 11,309 Rogers Communications, Inc. Cl. B 484,077 510,828 93,687 Royal Bank of Canada 5,621,232 7,517,445 8,622 Russel Metals Inc. 270,231 223,310 766 Saputo Inc. 24,022 26,749 5,593 Shaw Communications Inc. Cl. B Non-Voting 151,657 175,341 14,499 ShawCor Ltd. 866,597 614,758 2,265 Silver Wheaton Corp. 60,902 53,522 23,206 Stantec Inc. 534,298 740,968 57,024 Sun Life Financial Inc. 1,553,620 2,390,446 114,857 Suncor Energy, Inc. 3,742,420 4,238,223 49,332 Teck Resources Ltd. Cl. B Sub-Voting 1,470,031 783,392 56,169 TELUS Corporation 1,859,580 2,352,919 8,787 Thomson Reuters Corporation 326,996 411,847 1,182 TMX Group Ltd. 66,796 59,809 114,353 Toronto-Dominion Bank (The) 4,737,014 6,347,735 44,108 TransCanada Corporation 2,019,761 2,518,567 44,323 Transcontinental Inc. Cl. A 573,614 733,989 13,292 TransForce, Inc. 328,448 393,310 21,483 Valeant Pharmaceuticals International, Inc. 1,366,167 3,573,267

SSgA MA Canadian Equity Index Plus Fund Schedule of investment portfolio... continued As at 2014 (showing percentage of total fair of investments) Number of shares Description Average cost Fair Common stock... continued 14,961 Vermilion Energy, Inc. 958,822 852,777 6,235 West Fraser Timber Co. Ltd. 251,541 414,440 8,678 WestJet Airlines Ltd. 249,576 289,498 8,445 WSP Global Inc. 261,315 294,393 107,244,214 125,129,399 Adjustment for transaction costs (59,671) - Total investments 100.0% 107,184,543 125,129,399

Notes to financial statements of SSgA MA Canadian Equity Index Plus Fund 2014 and Investment strategy As indicated in the Fund Declaration, the Fund acquires common stock or other securities representing an equity interest or share in publicly traded companies principally domiciled or organized in Canada. The Fund also acquires, from time to time, high-quality short-term debt securities issued or guaranteed by Canadian governments or agencies thereof or issued by Canadian chartered banks, loan and trust companies or Canadian corporations, and with remaining maturities of one year or less. These may include call deposits, time deposits, asset-backed securities and repurchase agreements. Fair hierarchy The following tables illustrate the classification of the Fund s financial assets and financial liabilities measured at fair within the fair hierarchy as at 2014, and January 1, : As at 2014 Level 1 Level 2 Level 3 Total Equities 125,129,399 - - 125,129,399 As at Level 1 Level 2 Level 3 Total Equities 213,295,278 - - 213,295,278 As at January 1, Level 1 Level 2 Level 3 Total Equities 123,366,499 - - 123,366,499 Currency risk As at 2014, and January 1,, the majority of the Fund s financial assets and financial liabilities are denominated in Canadian dollars. As a result, the Fund is not significantly exposed to currency risk. Interest rate risk As at 2014, and January 1,, the majority of the Fund s financial assets and financial liabilities are non-interest bearing. As a result, the Fund is not subject to significant amounts of risk due to fluctuations in the prevailing levels of market interest rates.

Notes to financial statements of SSgA MA Canadian Equity Index Plus Fund 2014 and Price risk The most significant exposure to price risk arises from the Fund s investment in equity securities. As at 2014, had the prices of the securities on the Fund s benchmark increased or decreased by 10%, with all other variables held constant using a predicted tracking method, net assets attributable to holders of redeemable units would have increased or decreased by approximately 13,789,000 or 11,237,000 ( 23,420,000 or 19,239,000 and January 1, 13,570,000 or 11,103,000). In practice, actual trading results may differ from this sensitivity analysis, and the difference could be significant. Credit risk As at 2014, and January 1,, the Fund had no significant investments in either debt securities or derivative financial instruments. As a result, the Fund is not significantly exposed to credit risk. Liquidity risk As at 2014, and January 1,, the majority of the Fund s financial assets and financial liabilities are considered realizable and highly liquid. As a result, the Fund is not significantly exposed to liquidity risk. Concentration risk The following is a summary of the Fund s concentration risk as a percentage of investments: Sector 2014 % % January 1, % Consumer discretionary 6 6 4 Consumer staples 2 1 2 Energy 22 25 24 Financials 36 36 34 Health care 4 3 2 Industrials 10 9 5 Information technology 2 2 1 Materials 12 12 20 Telecommunication services 4 5 5 Utilities 2 1 3 100 100 100

Notes to financial statements of SSgA MA Canadian Equity Index Plus Fund 2014 and Financial instruments by category The following table presents the carrying amounts of the Fund s financial assets by category as at 2014. All of the Fund s financial liabilities as at 2014 were carried at amortized cost. HFT Financial assets at FVTPL designated at inception Total Financial assets at amortized cost Total Assets Non-derivative financial assets - 125,129,399 125,129,399-125,129,399 Cash - - - 1,174,025 1,174,025 Dividends receivable - - - 316,198 316,198 Total - 125,129,399 125,129,399 1,490,223 126,619,622 The following table presents the carrying amounts of the Fund s financial assets by category as at. All of the Fund s financial liabilities as at were carried at amortized cost. HFT Financial assets at FVTPL designated at inception Total Financial assets at amortized cost Total Assets Non-derivative financial assets - 213,295,278 213,295,278-213,295,278 Cash - - - 1,555,219 1,555,219 Dividends receivable - - - 550,787 550,787 Total - 213,295,278 213,295,278 2,106,006 215,401,284

Notes to financial statements of SSgA MA Canadian Equity Index Plus Fund 2014 and The following table presents the carrying amounts of the Fund s financial assets by category as at January 1,. All of the Fund s financial liabilities as at January 1, were carried at amortized cost. HFT Financial assets at FVTPL designated at inception Total Financial assets at amortized cost Total Assets Non-derivative financial assets - 123,366,499 123,366,499-123,366,499 Cash - - - 793,197 793,197 Receivable for investments sold - - - 60,042 60,042 Dividends receivable - - - 362,451 362,451 Total - 123,366,499 123,366,499 1,215,690 124,582,189 The following table presents the net realized gain (loss) and net change in unrealized appreciation (depreciation) on financial instruments at FVTPL by category for the years ended 2014 and. Net realized gain (loss) Net change in unrealized appreciation (depreciation) 2014 2014 Category Financial instruments at FVTPL HFT 190 (740) - - Designated at inception 22,436,535 (213,921) (7,008,952) 20,371,552 Total 22,436,725 (214,661) (7,008,952) 20,371,552 Increase (decrease) in net assets attributable to holders of redeemable units per unit The increase (decrease) in net assets attributable to holders of redeemable units per unit for the years ended 2014 and is calculated as follows: 2014 Increase (decrease) in net assets attributable to holders of redeemable units 19,528,527 25,547,254 Average units outstanding during the year 12,307,939 15,645,779 Increase (decrease) in net assets attributable to holders of redeemable units per unit 1.59 1.63

Notes to financial statements of SSgA MA Canadian Equity Index Plus Fund 2014 and Transition to IFRS The effect of the Fund s transition to IFRS is summarized in this note as follows: Transition elections The only voluntary exemption adopted by the Fund upon transition was the ability to designate a financial asset or financial liability at FVTPL upon transition to IFRS. All financial assets designated at FVTPL upon transition were previously carried at fair under Canadian GAAP as required by Accounting Guideline 18, Investment Companies. Statement of cash flows Under Canadian GAAP, the Fund was exempt from providing a statement of cash flows. IAS 1 requires that a complete set of financial statements include a statement of cash flows for the current and comparative periods, without exception. Reconciliation of equity and comprehensive income as previously reported under Canadian GAAP to IFRS January 1, Equity Equity as reported under Canadian GAAP 214,689,263 124,335,601 Revaluation of investments at FVTPL 207,085 238,258 Net assets attributable to holders of redeemable units 214,896,348 124,573,859 Comprehensive income For the year ended Comprehensive income as reported under Canadian GAAP 25,578,427 Revaluation of investments at FVTPL (31,173) Increase (decrease) in net assets attributable to holders of redeemable units 25,547,254

Notes to financial statements of SSgA MA Canadian Equity Index Plus Fund 2014 and Classification of redeemable units issued by the Fund Under Canadian GAAP, the Fund accounted for its redeemable units as equity. Under IFRS, IAS 32 requires that units or shares of an entity which include a contractual obligation for the issuer to repurchase or redeem them for cash or another financial asset be classified as financial liability. The Fund s units do not meet the criteria in IAS 32 for classification as equity and therefore, have been reclassified as financial liabilities on transition to IFRS. Revaluation of investments at FVTPL Under Canadian GAAP, the Fund measured the fair s of its portfolio investments in accordance with Section 3855, Financial Instruments Recognition and Measurement, which required the use of bid prices for long positions and ask prices for short positions, to the extent such prices are available. Under IFRS, the Fund measure the fair s of its portfolio investments using the guidance in IFRS 13, Fair Value Measurement, which requires that if an asset or a liability has a bid price and an ask price, then its fair is to be based on a price within the bid-ask spread that is most representative of fair. It also allows the use of mid-market pricing or other pricing conventions that are used by market participants as a practical expedient for fair measurements within a bid-ask spread.

SSgA MA Canadian Long Term Bond Index Fund Statements of financial position Assets As at 2014 As at As at January 1, Current assets Investments* 451,545,986 402,087,241 358,283,186 Cash 97,698 58,056 94,017 Receivable for investments sold - - 202,067 Interest receivable 2,696,808 2,721,402 2,187,682 Total assets 454,340,492 404,866,699 360,766,952 Liabilities Current liabilities Payable for units redeemed 184,458 162,163 135,167 Payable for investments purchased - - 264,128 Accrued expenses 14,606 37,676 42,262 Total liabilities 199,064 199,839 441,557 Net assets attributable to holders of redeemable units 454,141,428 404,666,860 360,325,395 Number of redeemable units outstanding 38,945,035 39,121,576 31,369,335 Net assets attributable to holders of redeemable units per unit 11.66 10.34 11.49 * Investments at cost 421,083,370 419,956,716 340,955,837 Approved by the Trustee, State Street Trust Company Canada Robert Baillie, President and CEO Stephen Baker, Vice President

SSgA MA Canadian Long Term Bond Index Fund Statements of comprehensive income For the years ended 2014 Investment income Interest for distribution purposes 18,745,523 17,818,901 Other changes in fair of investments and derivatives Net realized gain (loss) 3,774,661 (10,378,406) Net change in unrealized appreciation (depreciation) 48,332,098 (35,196,819) Total income (loss) 70,852,282 (27,756,324) Expenses Audit fees 27,064 23,382 Custodial fees 100,857 92,021 Regulatory fees 660 167 Total expenses 128,581 115,570 Increase (decrease) in net assets attributable to holders of redeemable units 70,723,701 (27,871,894) Increase (decrease) in net assets attributable to holders of redeemable units per unit for the year 1.74 (0.72)

SSgA MA Canadian Long Term Bond Index Fund Statements of changes in net assets attributable to holders of redeemable units For the years ended 2014 Increase (decrease) in net assets attributable to holders of redeemable units 70,723,701 (27,871,894) Distributions to holders of redeemable units From net investment income (18,582,699) (17,708,242) Redeemable unit transactions Proceeds from redeemable units issued 127,798,523 197,237,184 Reinvestment of distributions to holders of redeemable units 18,582,699 17,708,242 Redemption of redeemable units (149,047,656) (125,023,825) Increase (decrease) from redeemable unit transactions (2,666,434) 89,921,601 Net increase (decrease) in net assets attributable to holders of redeemable units 49,474,568 44,341,465 Net assets attributable to holders of redeemable units Beginning of year 404,666,860 360,325,395 Net assets attributable to holders of redeemable units End of year 454,141,428 404,666,860 Number of redeemable units outstanding Beginning of year 39,121,576 31,369,335 Issued 11,575,671 18,006,550 Reinvested 1,666,731 1,659,175 Redeemed (13,418,943) (11,913,484) Number of redeemable units outstanding End of year 38,945,035 39,121,576

SSgA MA Canadian Long Term Bond Index Fund Statements of cash flows For the years ended 2014 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units 70,723,701 (27,871,894) Adjustments for: Amortization income - (348) Net realized (gain) loss on investments (3,774,661) 10,378,406 Net change in unrealized (appreciation) depreciation on investments and derivatives (48,332,091) 35,196,824 Proceeds from sale of investments 715,106,089 948,295,936 Purchases of investments (712,458,082) (1,037,736,934) Interest receivable 24,594 (533,720) Accrued expenses (23,070) (4,586) Net cash from (used in) operating activities 21,266,480 (72,276,316) Cash flows from (used in) financing activities Proceeds from redeemable units issued 127,798,523 197,237,184 Redemption of redeemable units (149,025,361) (124,996,829) Net cash from (used in) financing activities (21,226,838) 72,240,355 Net increase (decrease) in cash during the year 39,642 (35,961) Cash Beginning of year 58,056 94,017 Cash End of year 97,698 58,056 Interest received* 18,770,117 17,284,833 * Included as part of cash flows from operating activities

SSgA MA Canadian Long Term Bond Index Fund Schedule of investment portfolio As at 2014 (showing percentage of total fair of investments) Par Description Coupon rate/yield % Maturity date Average cost Fair Corporate 24.0% Corporate bonds 23.6% 102,000 407 East Development Group General Partnership 4.47 June 23, 2045 102,000 107,145 440,000 407 International Inc. 3.98 Sept. 11, 2052 428,438 449,485 358,000 407 International Inc. 4.19 Apr. 25, 2042 375,755 381,341 338,000 407 International Inc. 4.45 Nov. 15, 2041 359,948 375,363 321,000 407 International Inc. 4.68 Oct. 7, 2053 334,998 371,562 565,000 407 International Inc. 5.75 Feb. 14, 2036 650,914 702,734 416,000 407 International Inc. 5.96 Dec. 3, 2035 483,933 552,822 403,000 407 International Inc. 6.47 July 27, 2029 515,002 539,600 269,312 407 International Inc. 6.75 July 27, 2039 322,905 356,445 181,378 Access Recherche Montreal LP 7.07 Dec. 31, 2042 208,704 253,837 285,000 Aeroports de Montreal 3.92 Sept. 26, 2042 271,884 292,859 377,000 Aeroports de Montreal 5.17 Sept. 17, 2035 404,846 453,833 274,000 Aeroports de Montreal 5.47 Apr. 16, 2040 309,520 350,663 349,000 Aeroports de Montreal 5.67 Oct. 16, 2037 438,647 450,968 156,000 Aeroports de Montreal 6.55 Oct. 11, 2033 198,749 215,731 24,117 Aeroports de Montreal 6.61 Oct. 11, 2033 26,711 30,454 330,655 Aeroports de Montreal 6.95 Apr. 16, 2032 397,712 430,943 229,000 AGT Limited 8.80 Sept. 22, 2025 329,294 331,182 99,531 Alliance Pipeline LP 6.77 Dec. 31, 2025 113,063 117,625 179,163 Alliance Pipeline LP 7.22 Dec. 31, 2025 217,259 216,161 348,000 AltaGas Ltd. 3.84 Jan. 15, 2025 347,899 352,800 320,000 AltaGas Ltd. 4.50 Aug. 15, 2044 319,792 309,944 169,000 AltaGas Ltd. 5.16 Jan. 13, 2044 186,611 182,084 525,000 AltaLink, LP 3.99 June 30, 2042 522,068 545,111 297,000 AltaLink, LP 4.05 Nov. 21, 2044 299,438 310,511 100,000 AltaLink, LP 4.27 June 6, 2064 100,000 108,476 398,000 AltaLink, LP 4.45 July 11, 2053 402,812 443,561 305,000 AltaLink, LP 4.46 Nov. 8, 2041 323,036 339,668 138,000 AltaLink, LP 4.87 Nov. 15, 2040 156,173 162,940 289,000 AltaLink, LP 4.92 Sept. 17, 2043 302,228 345,455 194,000 AltaLink, LP 5.25 Sept. 22, 2036 217,667 237,416 106,000 AltaLink, LP 5.38 Mar. 26, 2040 127,874 133,247 125,000 Arrow Lakes Power 5.52 Apr. 5, 2041 125,000 147,650 640,000 Asian Development Bank 4.65 Feb. 16, 2027 720,225 758,632 765,000 Bank of Montreal 4.61 Sept. 10, 2025 830,168 881,350 87,000 Bank of Nova Scotia (The) 8.90 June 20, 2025 123,096 131,702 572,000 Bell Canada 4.75 Sept. 29, 2044 566,846 588,686 350,000 Bell Canada 6.10 Mar. 16, 2035 406,857 425,711 307,000 Bell Canada 6.17 Feb. 26, 2037 369,244 376,430 250,000 Bell Canada 6.55 May 1, 2029 298,775 312,318 271,000 Bell Canada 7.00 Sept. 24, 2027 322,403 348,749 391,000 Bell Canada 7.30 Feb. 23, 2032 476,883 519,559 558,000 Bell Canada 7.85 Apr. 2, 2031 718,003 771,570 160,000 British Columbia Ferry Services Inc. 4.29 Apr. 28, 2044 160,000 173,248 306,000 British Columbia Ferry Services Inc. 4.70 Oct. 23, 2043 329,568 353,301 290,000 British Columbia Ferry Services Inc. 5.02 Mar. 20, 2037 316,501 342,510 267,000 British Columbia Ferry Services Inc. 5.58 Jan. 11, 2038 304,096 337,976 168,000 British Columbia Ferry Services Inc. 6.25 Oct. 13, 2034 199,060 225,107 115,762 Broadcast Centre Trust 7.53 May 1, 2027 148,871 152,281 658,000 Brookfield Asset Management Inc. 4.82 Jan. 28, 2026 657,704 699,030 560,000 Brookfield Asset Management Inc. 5.95 June 14, 2035 538,876 619,764 121,000 BRP Finance ULC 5.84 Nov. 5, 2036 121,012 132,885 150,000 Cameco Corporation 5.09 Nov. 14, 2042 149,931 151,090 86,000 Canada Life Assurance Company (The) 6.40 Dec. 11, 2028 95,631 110,854 44,000 Canada Life Capital Trust 7.53 June 30, 2052 50,371 60,660

SSgA MA Canadian Long Term Bond Index Fund Schedule of investment portfolio... continued As at 2014 (showing percentage of total fair of investments) Par Description Coupon rate/yield % Maturity date Average cost Fair Corporate bonds... continued 470,000 Canadian Pacific Railway Company 6.45 Nov. 17, 2039 530,691 635,555 165,897 Canadian Pacific Railway Company 6.91 Oct. 1, 2024 196,517 197,876 250,000 Canadian Tire Corporation, Limited 5.61 Sept. 4, 2035 249,982 288,722 63,000 Canadian Tire Corporation, Limited 6.25 Apr. 13, 2028 66,493 76,261 203,000 Canadian Tire Corporation, Limited 6.32 Feb. 24, 2034 227,190 251,942 497,000 Capital City Link General Partnership 4.39 Mar. 31, 2046 504,455 527,415 19,823 CBC Monetization Trust 4.69 May 15, 2027 19,876 22,711 378,000 CIBC Capital Trust 10.25 June 30, 2108 536,858 548,768 81,000 Clarica Life Insurance Co. 6.30 May 15, 2028 85,041 102,975 510,449 Comber Wind Financial Corp. 5.13 Nov. 15, 2030 510,408 537,659 35,590 CSS FSCC Partnership 6.92 July 31, 2042 38,286 47,434 375,000 CU Inc. 3.81 Sept. 10, 2042 361,307 376,580 170,000 CU Inc. 3.83 Sept. 11, 2062 170,000 167,849 250,000 CU Inc. 3.86 Nov. 14, 2052 218,175 249,715 1,026,000 CU Inc. 4.09 Sept. 2, 2044 1,027,598 1,081,168 525,000 CU Inc. 4.54 Oct. 24, 2041 565,629 592,482 273,000 CU Inc. 4.56 Nov. 7, 2053 281,157 310,384 60,000 CU Inc. 4.59 Oct. 24, 2061 60,000 69,165 700,000 CU Inc. 4.72 Sept. 9, 2043 700,000 813,816 124,000 CU Inc. 4.95 Nov. 18, 2050 131,494 150,112 181,000 CU Inc. 5.03 Nov. 20, 2036 202,923 215,567 243,000 CU Inc. 5.18 Nov. 21, 2035 264,804 293,646 60,000 CU Inc. 5.56 May 26, 2028 69,819 73,809 210,000 CU Inc. 5.56 Oct. 30, 2037 237,115 267,793 387,000 CU Inc. 5.58 May 26, 2038 453,702 496,926 239,000 CU Inc. 5.90 Nov. 20, 2034 293,968 311,998 269,000 CU Inc. 6.50 Mar. 7, 2039 363,926 383,838 43,527 Edmonton Regional Airports Authority 7.21 Nov. 1, 2030 53,520 57,074 282,000 Enbridge Gas Distribution Inc. 4.00 Aug. 22, 2044 282,210 290,224 202,000 Enbridge Gas Distribution Inc. 4.50 Nov. 23, 2043 201,867 225,294 250,000 Enbridge Gas Distribution Inc. 4.95 Nov. 22, 2050 260,992 299,505 344,000 Enbridge Gas Distribution Inc. 5.21 Feb. 25, 2036 389,906 415,033 79,000 Enbridge Gas Distribution Inc. 6.10 May 19, 2028 95,208 100,502 75,000 Enbridge Gas Distribution Inc. 6.16 Dec. 16, 2033 92,241 98,761 406,000 Enbridge Gas Distribution Inc. 6.65 Nov. 3, 2027 538,442 546,418 38,000 Enbridge Gas Distribution Inc. 6.90 Nov. 15, 2032 46,742 53,643 14,000 Enbridge Gas Distribution Inc. 7.60 Oct. 29, 2026 17,824 19,720 791,000 Enbridge Inc. 4.24 Aug. 27, 2042 756,833 739,579 195,000 Enbridge Inc. 4.56 Mar. 28, 2064 194,848 183,632 510,000 Enbridge Inc. 4.57 Mar. 11, 2044 514,005 502,789 70,000 Enbridge Inc. 5.12 Sept. 28, 2040 70,852 74,511 213,000 Enbridge Inc. 5.57 Nov. 14, 2035 237,194 238,500 139,000 Enbridge Inc. 5.75 Sept. 2, 2039 160,808 160,499 83,000 Enbridge Inc. 6.10 July 14, 2028 95,765 99,648 231,000 Enbridge Inc. 7.20 June 18, 2032 306,523 299,571 156,000 Enbridge Inc. 7.22 July 24, 2030 195,858 200,155 300,000 Enbridge Income Fund 4.87 Nov. 21, 2044 299,718 315,566 408,000 Enbridge Pipelines Inc. 4.55 Aug. 17, 2043 407,735 452,801 111,000 Enbridge Pipelines Inc. 5.08 Dec. 19, 2036 118,663 130,355 383,000 Enbridge Pipelines Inc. 5.33 Apr. 6, 2040 468,359 468,481 181,000 Enbridge Pipelines Inc. 5.35 Nov. 10, 2039 197,107 222,166 9,000 Enbridge Pipelines Inc. 6.05 Feb. 12, 2029 9,972 11,346 179,000 Enersource Corporation 5.30 Apr. 29, 2041 200,548 222,164 334,000 EPCOR Utilities Inc. 4.55 Feb. 28, 2042 346,931 370,978 197,000 EPCOR Utilities Inc. 5.65 Nov. 16, 2035 210,456 246,965 233,000 EPCOR Utilities Inc. 5.75 Nov. 24, 2039 259,673 301,849 155,000 EPCOR Utilities Inc. 6.65 Apr. 15, 2038 200,652 220,666 92,000 EPCOR Utilities Inc. 6.80 June 28, 2029 115,010 125,325

SSgA MA Canadian Long Term Bond Index Fund Schedule of investment portfolio... continued As at 2014 (showing percentage of total fair of investments) Par Description Coupon rate/yield % Maturity date Average cost Fair Corporate bonds... continued 210,000 Finning International Inc. 5.08 June 13, 2042 211,551 235,190 253,000 First Capital Realty Inc. 4.32 July 31, 2025 254,120 263,200 289,000 Fortis Inc. 6.51 July 4, 2039 363,009 403,482 125,000 FortisAlberta Inc. 3.98 Oct. 23, 2052 124,925 127,560 62,000 FortisAlberta Inc. 4.11 Sept. 29, 2044 61,989 65,577 210,000 FortisAlberta Inc. 4.54 Oct. 18, 2041 224,678 236,703 112,000 FortisAlberta Inc. 4.80 Oct. 27, 2050 122,447 131,631 133,000 FortisAlberta Inc. 4.85 Sept. 11, 2043 144,551 157,400 70,000 FortisAlberta Inc. 4.99 Jan. 3, 2047 76,375 85,170 158,000 FortisAlberta Inc. 5.37 Oct. 30, 2039 167,591 197,790 152,000 FortisAlberta Inc. 5.40 Apr. 21, 2036 170,046 188,289 162,000 FortisAlberta Inc. 5.85 Apr. 15, 2038 193,598 213,830 285,000 FortisAlberta Inc. 6.22 Oct. 31, 2034 361,542 384,250 147,000 FortisAlberta Inc. 7.06 Feb. 14, 2039 192,483 222,003 33,000 FortisBC Energy (Vancouver Island) Inc. 5.20 Dec. 6, 2040 31,991 40,249 259,000 FortisBC Energy (Vancouver Island) Inc. 6.05 Feb. 15, 2038 325,567 345,966 216,000 FortisBC Energy Inc. 4.25 Dec. 9, 2041 208,655 233,349 75,000 FortisBC Energy Inc. 5.55 Sept. 25, 2036 79,455 94,697 367,000 FortisBC Energy Inc. 5.80 May 13, 2038 446,025 480,868 244,000 FortisBC Energy Inc. 5.90 Feb. 26, 2035 298,257 317,848 45,000 FortisBC Energy Inc. 6.00 Oct. 2, 2037 58,867 60,173 134,000 FortisBC Energy Inc. 6.50 May 1, 2034 166,526 184,596 163,000 FortisBC Energy Inc. 6.55 Feb. 24, 2039 215,859 233,779 61,000 FortisBC Energy Inc. 6.95 Sept. 21, 2029 78,755 84,988 217,000 FortisBC Inc. 4.00 Oct. 28, 2044 218,755 224,424 75,000 FortisBC Inc. 5.00 Nov. 24, 2050 77,949 91,213 151,000 FortisBC Inc. 5.60 Nov. 9, 2035 161,645 189,246 45,000 FortisBC Inc. 5.90 July 4, 2047 49,840 61,762 120,000 FortisBC Inc. 6.10 June 2, 2039 161,176 163,205 55,000 Gaz Metro Inc. 5.70 July 10, 2036 67,838 70,549 41,000 Gaz Metro Inc. 6.30 Oct. 31, 2033 51,838 55,071 141,000 Gaz Metro Inc. 7.05 Oct. 30, 2030 187,144 198,144 7,000 Gaz Metro Inc. 7.20 Nov. 19, 2027 8,549 9,661 173,000 Gaz Metro Inc. 9.00 May 16, 2025 254,966 262,033 1,471,000 GE Capital Canada Funding Company 5.73 Oct. 22, 2037 1,713,358 1,897,291 194,000 George Weston Limited 6.69 Mar. 1, 2033 217,451 236,883 129,000 George Weston Limited 7.10 Feb. 5, 2032 146,599 163,517 108,000 GrandLinq GP 4.77 Mar. 31, 2047 108,000 115,875 555,000 Greater Toronto Airports Authority 5.30 Feb. 25, 2041 629,332 695,845 368,000 Greater Toronto Airports Authority 5.30 Feb. 25, 2041 387,489 414,948 473,000 Greater Toronto Airports Authority 5.63 June 7, 2040 544,084 616,321 359,000 Greater Toronto Airports Authority 6.45 Dec. 3, 2027 447,839 476,256 227,274 Greater Toronto Airports Authority 6.45 July 30, 2029 263,184 286,977 621,000 Greater Toronto Airports Authority 6.47 Feb. 2, 2034 802,178 859,178 550,000 Greater Toronto Airports Authority 6.98 Oct. 15, 2032 741,545 786,964 790,000 Greater Toronto Airports Authority 7.05 June 12, 2030 1,031,268 1,112,475 557,000 Greater Toronto Airports Authority 7.10 June 4, 2031 747,935 796,637 330,000 Great-West Lifeco Inc. 6.00 Nov. 16, 2039 391,940 430,650 374,000 Great-West Lifeco Inc. 6.67 Mar. 21, 2033 453,900 501,218 196,000 Great-West Lifeco Inc. 6.74 Nov. 24, 2031 234,007 262,683 77,000 Halifax International Airport Authority 4.89 Nov. 15, 2050 77,529 92,976 167,000 Halifax International Airport Authority 5.50 July 19, 2041 206,666 215,005 1,705,000 Health Montreal Collective LP 6.72 Sept. 30, 2049 2,072,954 2,254,793 690,000 Hospital Infrastructure 5.44 Jan. 31, 2045 779,971 829,143

SSgA MA Canadian Long Term Bond Index Fund Schedule of investment portfolio... continued As at 2014 (showing percentage of total fair of investments) Par Description Coupon rate/yield % Maturity date Average cost Fair Corporate bonds... continued 205,000 IGM Financial Inc. 6.00 Dec. 10, 2040 230,314 258,073 103,000 IGM Financial Inc. 6.65 Dec. 13, 2027 112,571 131,271 93,000 IGM Financial Inc. 7.00 Dec. 31, 2032 103,603 125,053 125,000 IGM Financial Inc. 7.11 Mar. 7, 2033 144,062 170,518 109,000 IGM Financial Inc. 7.45 May 9, 2031 129,190 150,529 270,000 Inpower B.C. General Partnership 4.47 Mar. 31, 2033 268,375 288,069 333,000 Intact Financial Corporation 5.16 June 16, 2042 343,475 381,877 265,000 Intact Financial Corporation 6.40 Nov. 23, 2039 283,989 344,720 100,000 Integrated Team Solutions PCH Partnership 4.88 May 31, 2046 100,000 111,229 265,000 Integrated Team Solutions SJHC Partnership 5.95 Nov. 30, 2042 302,157 330,171 645,000 Inter Pipeline Ltd. 4.64 May 30, 2044 655,320 665,965 1,019,000 Inter-American Development Bank 4.40 Jan. 26, 2026 1,126,015 1,173,327 836,000 Labrador-Island Link Funding Trust 3.76 June 1, 2033 858,558 959,530 1,079,000 Labrador-Island Link Funding Trust 3.85 Dec. 1, 2053 1,096,987 1,322,578 585,000 Labrador-Island Link Funding Trust 3.86 Dec. 1, 2045 604,416 704,942 314,000 Loblaw Companies Limited 5.90 Jan. 18, 2036 332,677 367,976 196,000 Loblaw Companies Limited 6.05 June 9, 2034 223,444 232,183 289,000 Loblaw Companies Limited 6.15 Jan. 29, 2035 326,577 345,828 79,000 Loblaw Companies Limited 6.45 Feb. 9, 2028 84,060 96,372 118,000 Loblaw Companies Limited 6.45 Mar. 1, 2039 128,878 148,065 208,000 Loblaw Companies Limited 6.50 Jan. 22, 2029 242,812 254,886 102,000 Loblaw Companies Limited 6.54 Feb. 17, 2033 120,083 126,248 87,000 Loblaw Companies Limited 6.65 Nov. 8, 2027 91,060 107,585 189,000 Loblaw Companies Limited 6.85 Mar. 1, 2032 204,932 239,302 370,000 Lower Mattagami Energy LP 4.18 Feb. 23, 2046 365,279 391,968 334,000 Lower Mattagami Energy LP 4.18 Apr. 23, 2052 341,157 350,609 151,000 Lower Mattagami Energy LP 4.94 Sept. 21, 2043 151,000 179,840 298,000 Lower Mattagami Energy LP 5.14 May 18, 2041 314,356 362,662 634,000 Manulife Finance Delaware LP 5.06 Dec. 15, 2041 574,314 702,556 1,365,000 Maritime Link Financing Trust 3.50 Dec. 1, 2052 1,366,312 1,484,909 24,773 Mars Development Trust 6.40 Feb. 4, 2035 30,510 32,328 323,000 Metro Inc. 5.03 Dec. 1, 2044 326,040 331,736 404,000 Metro Inc. 5.97 Oct. 15, 2035 429,269 462,580 752,000 Muskrat Falls and Labrador Transmission Assets Funding 3.63 June 1, 2029 770,297 846,473 700,000 Muskrat Falls and Labrador Transmission Assets Funding 3.83 June 1, 2037 735,459 816,151 1,295,000 Muskrat Falls and Labrador Transmission Assets Funding 3.86 Dec. 1, 2048 1,333,690 1,571,589 153,000 NAV CANADA 7.40 June 1, 2027 210,651 219,720 81,250 NAV CANADA 7.56 Mar. 1, 2027 97,690 104,468 817,636 North Battleford Power LP 4.96 Dec. 31, 2032 817,693 918,550 587,000 North West Redwater Partnership / NWR Financing Co. Ltd. 4.05 July 22, 2044 588,726 609,771 174,822 Northland Power Solar Finance One LP 4.40 June 30, 2032 174,847 179,975 304,606 Northwestconnect Group Partnership 5.95 Apr. 30, 2041 342,499 380,580 90,000 NOVA Gas Transmission Ltd. 6.30 May 27, 2030 98,485 111,967 47,000 NOVA Gas Transmission Ltd. 8.46 June 5, 2026 65,133 67,554 22,000 NOVA Gas Transmission Ltd. 8.88 May 27, 2026 29,519 32,581 19,000 NOVA Gas Transmission Ltd. 8.90 May 27, 2025 25,257 27,638 44,000 NOVA Gas Transmission Ltd. 9.90 Dec. 16, 2024 67,435 67,243 240,000 Nova Scotia Power Inc. 4.15 Mar. 6, 2042 237,790 249,504 358,000 Nova Scotia Power Inc. 4.50 July 20, 2043 355,841 394,204 359,000 Nova Scotia Power Inc. 5.61 June 15, 2040 415,470 456,136 224,000 Nova Scotia Power Inc. 5.67 Nov. 14, 2035 246,894 280,957 197,000 Nova Scotia Power Inc. 5.95 July 27, 2039 254,299 259,908 234,000 Nova Scotia Power Inc. 6.95 Aug. 25, 2033 305,591 330,152 238,000 Nova Scotia Power Inc. 8.85 May 19, 2025 350,054 350,870

SSgA MA Canadian Long Term Bond Index Fund Schedule of investment portfolio... continued As at 2014 (showing percentage of total fair of investments) Par Description Coupon rate/yield % Maturity date Average cost Fair Corporate bonds... continued 167,000 OPB Finance Trust 3.89 July 4, 2042 166,883 174,256 220,536 Ornge Issuer Trust 5.73 June 11, 2034 245,703 254,363 26,546 Ottawa MacDonald-Cartier International Airport Authority 6.97 May 25, 2032 33,914 34,846 4,429 Pearson International Fuel Facilities Corp. 5.09 Mar. 9, 2032 4,085 4,741 220,000 Pembina Pipeline Corporation 4.75 Apr. 30, 2043 219,476 222,811 664,000 Pembina Pipeline Corporation 4.81 Mar. 25, 2044 671,855 678,207 87,056 Plenary Health Bridgepoint LP 7.25 Aug. 31, 2042 106,625 123,210 154,000 Plenary Health Care Partnerships Humber LP 4.82 Nov. 30, 2044 158,167 175,285 551,000 Plenary Health Care Partnerships Humber LP 4.90 May 31, 2039 582,633 614,457 348,286 Plenary Health Hamilton LP 5.80 May 31, 2043 391,491 434,653 822,000 Plenary Properties LTAP LP 6.29 Jan. 31, 2044 977,930 1,083,474 180,000 Power Corporation of Canada 8.57 Apr. 22, 2039 255,996 288,456 325,000 Power Financial Corporation 6.90 Mar. 11, 2033 389,994 435,138 175,000 PowerStream Inc. 3.96 July 30, 2042 175,000 178,544 34,000 Queen s University 6.10 Nov. 19, 2032 42,098 44,686 841,000 Rogers Communications, Inc. 6.11 Aug. 25, 2040 961,212 1,012,538 430,000 Rogers Communications, Inc. 6.56 Mar. 22, 2041 505,321 547,232 542,000 Rogers Communications, Inc. 6.68 Nov. 4, 2039 620,607 695,207 815,000 Royal Bank of Canada 4.93 July 16, 2025 899,791 959,413 1,375,265 Royal Office Finance LP 5.21 Nov. 12, 2032 1,558,406 1,696,237 725,000 Scotiabank Capital Trust 5.65 Dec. 31, 2056 824,997 913,033 1,516,000 Shaw Communications Inc. 6.75 Nov. 9, 2039 1,676,597 1,881,911 994,000 SNC-Lavalin Innisfree McGill Finance Inc. 6.63 June 30, 2044 1,205,411 1,294,663 100,000 Sobeys Inc. 5.79 Oct. 6, 2036 100,625 112,185 288,000 Sobeys Inc. 6.06 Oct. 29, 2035 283,066 325,642 197,000 Sobeys Inc. 6.64 June 7, 2040 230,024 249,347 157,000 South Coast British Columbia Transportation Authority 3.05 June 4, 2025 156,315 159,270 239,000 South Coast British Columbia Transportation Authority 3.85 Feb. 9, 2052 238,422 254,715 178,000 South Coast British Columbia Transportation Authority 4.45 June 9, 2044 177,587 207,369 125,000 South Coast British Columbia Transportation Authority 4.65 June 20, 2041 127,912 148,654 207,000 Sun Life Capital Trust 7.09 June 30, 2052 251,181 275,215 467,000 Sun Life Financial Inc. 5.40 May 29, 2042 446,798 544,224 733,000 Suncor Energy, Inc. 5.39 Mar. 26, 2037 787,823 840,336 43,000 TCHC Issuer Trust 4.88 May 11, 2037 45,072 50,673 88,000 TCHC Issuer Trust 5.40 Feb. 22, 2040 95,249 112,587 443,000 TD Capital Trust IV 10.00 June 30, 2108 643,697 626,945 788,000 TELUS Corporation 3.75 Jan. 17, 2025 788,881 808,075 750,000 TELUS Corporation 4.40 Apr. 1, 2043 734,167 736,773 326,000 TELUS Corporation 4.75 Jan. 17, 2045 327,137 339,064 535,000 TELUS Corporation 4.85 Apr. 5, 2044 534,326 564,805 417,000 TELUS Corporation 5.15 Nov. 26, 2043 414,915 459,722 405,000 Teranet Holdings LP 5.75 Dec. 17, 2040 420,285 457,218 315,000 Teranet Holdings LP 6.10 June 17, 2041 343,967 372,204 181,000 THP Partnership 4.39 Oct. 31, 2046 181,000 192,823 321,000 Toronto Hydro Corporation 3.96 Apr. 9, 2063 320,653 325,421 55,000 Toronto Hydro Corporation 4.08 Sept. 16, 2044 54,971 57,681 172,000 Toronto Hydro Corporation 5.54 May 21, 2040 213,572 221,513 100,000 Toronto-Dominion Bank (The) 9.15 May 26, 2025 152,050 152,811 134,000 TransAlta Corporation 6.90 Nov. 15, 2030 136,470 145,004 179,000 TransAlta Corporation 7.30 Oct. 22, 2029 188,708 202,283

SSgA MA Canadian Long Term Bond Index Fund Schedule of investment portfolio... continued As at 2014 (showing percentage of total fair of investments) Par Description Coupon rate/yield % Maturity date Average cost Fair Corporate bonds... continued 627,000 TransCanada PipeLines Limited 4.55 Nov. 15, 2041 655,394 668,138 337,000 TransCanada PipeLines Limited 6.28 May 26, 2028 399,921 421,873 56,000 TransCanada PipeLines Limited 6.50 Dec. 9, 2030 62,291 70,682 104,000 TransCanada PipeLines Limited 6.89 Aug. 7, 2028 121,147 136,621 190,000 TransCanada PipeLines Limited 7.31 Jan. 15, 2027 253,854 256,129 34,000 TransCanada PipeLines Limited 7.34 July 18, 2028 41,066 46,370 239,000 TransCanada PipeLines Limited 7.90 Apr. 15, 2027 331,165 332,002 415,000 TransCanada PipeLines Limited 8.05 Feb. 17, 2039 637,448 641,136 4,000 TransCanada PipeLines Limited 8.21 Apr. 25, 2030 5,273 5,795 63,000 TransCanada PipeLines Limited 8.23 Jan. 16, 2031 87,904 91,336 414,000 TransCanada PipeLines Limited 8.29 Feb. 5, 2026 566,105 596,287 200,004 Trillium Windpower LP 5.80 Feb. 15, 2033 200,004 216,703 41,739 UMH Energy Partnership 7.59 May 8, 2041 49,191 61,319 200,000 Union Gas Limited 4.20 June 2, 2044 199,864 210,734 425,000 Union Gas Limited 4.88 June 21, 2041 464,042 496,608 299,000 Union Gas Limited 5.20 July 23, 2040 339,936 361,962 194,000 Union Gas Limited 5.46 Sept. 11, 2036 220,667 238,396 255,000 Union Gas Limited 6.05 Sept. 2, 2038 331,432 340,500 63,000 Union Gas Limited 8.65 Nov. 10, 2025 89,870 93,199 293,000 Vancouver International Airport Authority 7.43 Dec. 7, 2026 406,326 414,027 165,000 Westcoast Energy Inc. 4.79 Oct. 28, 2041 182,068 183,041 325,000 Westcoast Energy Inc. 6.75 Dec. 15, 2027 397,083 420,825 274,000 Westcoast Energy Inc. 7.15 Mar. 20, 2031 354,049 378,094 99,000 Westcoast Energy Inc. 7.30 Dec. 18, 2026 118,644 133,078 67,000 Westcoast Energy Inc. 8.85 July 21, 2025 94,354 96,922 90,000 Windsor Canada Utilities Ltd. 4.13 Nov. 6, 2042 90,000 90,907 116,427 Winnipeg Airport Authority Inc. 5.21 Sept. 28, 2040 115,146 130,191 199,449 Winnipeg Airport Authority Inc. 6.10 Nov. 20, 2040 240,149 245,431 41,000 Yukon Development Corp. 5.00 June 29, 2040 41,441 50,242 99,054,679 106,948,390 Term deposit 0.4% 1,600,000 Royal Bank of Canada 0.95 Jan. 2, 2015 1,600,000 1,600,000 Government 76.0% Federal 24.2% 2,086,000 Canada Housing Trust No. 1 2.55 Mar. 15, 2025 2,086,255 2,127,664 542,000 Canada Post Corporation 4.08 July 16, 2025 584,268 629,224 597,000 Canada Post Corporation 4.36 July 16, 2040 701,112 755,348 7,812,000 Government of Canada 2.25 June 1, 2025 7,875,352 8,067,691 2,571,000 Government of Canada 2.75 Dec. 1, 2048 2,616,185 2,814,520 2,845,000 Government of Canada 2.75 Dec. 1, 2064 2,844,802 3,202,524 12,684,000 Government of Canada 3.50 Dec. 1, 2045 14,899,686 15,923,969 14,404,000 Government of Canada 4.00 June 1, 2041 17,261,581 19,113,057 11,878,000 Government of Canada 5.00 June 1, 2037 16,528,255 17,454,114 9,346,000 Government of Canada 5.75 June 1, 2029 13,378,405 13,587,209 11,380,000 Government of Canada 5.75 June 1, 2033 16,685,368 17,408,553 3,146,000 Government of Canada 8.00 June 1, 2027 4,927,691 5,227,756 1,755,000 Government of Canada 9.00 June 1, 2025 2,861,983 2,940,601 103,250,943 109,252,230

SSgA MA Canadian Long Term Bond Index Fund Schedule of investment portfolio... continued As at 2014 (showing percentage of total fair of investments) Par Description Coupon rate/yield % Maturity date Average cost Fair Provincial 49.7% 370,000 55 School Board Trust (The) 5.90 June 2, 2033 432,725 491,752 4,000 Alberta Capital Finance Authority 4.45 Dec. 15, 2025 4,023 4,673 33,000 Concordia University 6.55 Sept. 2, 2042 38,424 46,304 1,521,000 Financement-Quebec 5.25 June 1, 2034 1,791,526 1,937,120 76,000 Hospital for Sick Children 5.22 Dec. 16, 2049 77,073 94,383 326,000 Hydro One Inc. 3.79 July 31, 2062 313,778 322,482 256,000 Hydro One Inc. 4.00 Dec. 22, 2051 259,453 265,318 307,000 Hydro One Inc. 4.17 June 6, 2044 307,398 328,362 400,000 Hydro One Inc. 4.39 Sept. 26, 2041 423,558 442,951 425,000 Hydro One Inc. 4.59 Oct. 9, 2043 458,553 486,680 440,000 Hydro One Inc. 4.89 Mar. 13, 2037 482,495 517,371 197,000 Hydro One Inc. 5.00 Oct. 19, 2046 229,943 240,025 622,000 Hydro One Inc. 5.36 May 20, 2036 722,358 773,461 528,000 Hydro One Inc. 5.49 July 16, 2040 636,604 677,677 364,000 Hydro One Inc. 6.03 Mar. 3, 2039 449,699 494,552 396,000 Hydro One Inc. 6.35 Jan. 31, 2034 509,433 540,993 497,000 Hydro One Inc. 6.93 June 1, 2032 670,478 708,268 411,000 Hydro One Inc. 7.35 June 3, 2030 580,997 594,187 155,000 Hydro Ottawa Holding Inc. 3.99 May 14, 2043 155,000 158,846 438,000 Hydro-Quebec 4.00 Feb. 15, 2055 473,220 502,371 1,457,000 Hydro-Quebec 5.00 Feb. 15, 2045 1,696,069 1,915,133 2,038,000 Hydro-Quebec 5.00 Feb. 15, 2050 2,484,346 2,736,392 649,000 Hydro-Quebec 6.00 Aug. 15, 2031 787,196 884,608 1,275,000 Hydro-Quebec 6.00 Feb. 15, 2040 1,668,305 1,848,686 130,000 Hydro-Quebec 6.50 Jan. 16, 2035 181,660 189,410 1,585,000 Hydro-Quebec 6.50 Feb. 15, 2035 2,175,434 2,328,657 196,000 McGill University 6.15 Sept. 22, 2042 246,730 272,651 101,000 McGill University Health Centre 5.36 Dec. 31, 2043 102,243 126,363 213,825 New Brunswick FM Project Inc. 6.47 Nov. 30, 2027 256,546 263,695 239,000 Newfoundland & Labrador Hydro 3.60 Dec. 1, 2045 237,172 251,686 40,000 Newfoundland & Labrador Hydro 5.70 July 14, 2033 45,910 53,737 83,000 Newfoundland & Labrador Hydro 6.65 Aug. 27, 2031 109,530 120,853 154,000 Newfoundland & Labrador Hydro 8.40 Feb. 27, 2026 219,338 235,775 618,000 Ontario Electricity Financial Corporation 8.25 June 22, 2026 905,167 943,309 174,000 Ontario Electricity Financial Corporation 8.50 May 26, 2025 248,385 263,746 202,000 Ontario Electricity Financial Corporation 9.00 May 26, 2025 308,465 315,498 161,000 Ontario Infrastructure Projects Corp. 4.70 June 1, 2037 152,585 188,534 76,552 Ontario School Boards Financing Corp. 4.79 Aug. 8, 2030 80,935 82,814 19,687 Ontario School Boards Financing Corp. 5.07 Apr. 18, 2031 19,727 22,364 247,017 Ontario School Boards Financing Corp. 5.38 June 25, 2032 275,536 288,246 262,377 Ontario School Boards Financing Corp. 5.48 Nov. 26, 2029 281,080 307,217 126,755 Ontario School Boards Financing Corp. 5.80 Nov. 7, 2028 139,023 151,041 121,133 Ontario School Boards Financing Corp. 5.90 Oct. 11, 2027 135,592 144,163 100,934 Ontario School Boards Financing Corp. 6.55 Oct. 19, 2026 114,384 123,488 79,001 Ontario School Boards Financing Corp. 7.20 June 9, 2025 92,961 98,831 1,605,000 Province of Alberta 2.90 Sept. 20, 2029 1,515,490 1,610,339 2,136,000 Province of Alberta 3.45 Dec. 1, 2043 2,052,210 2,253,197 1,342,000 Province of Alberta 3.50 June 1, 2031 1,347,707 1,433,860 1,231,000 Province of Alberta 3.90 Dec. 1, 2033 1,250,656 1,379,100 719,000 Province of Alberta 4.50 Dec. 1, 2040 818,943 888,742 615,000 Province of British Columbia 2.85 June 18, 2025 615,798 630,949 4,445,000 Province of British Columbia 3.20 June 18, 2044 4,066,631 4,489,605 3,296,000 Province of British Columbia 4.30 June 18, 2042 3,716,228 3,989,819 1,383,000 Province of British Columbia 4.70 June 18, 2037 1,562,225 1,730,872 1,838,000 Province of British Columbia 4.95 June 18, 2040 2,167,885 2,413,065