FUND FACTS Co-operators Very Conservative Portfolio December 31, 2014

Transcription

1 Co-operators Very Conservative Portfolio December 31, 2014 Quick Facts Date fund created: December 31, 2003 Total value on December 31, 2014: $70,579,000 Net Asset Value per Unit: $ Number of Units Outstanding: 486,448 Management Expense Ratio (MER): 3.00% Portfolio Turnover Rate at December 31, 2014: 48.40% Minimum Investment: $25 Portfolio Manager: Co-operators Life Insurance Company What does the Fund invest in? This fund invests in Canadian government and corporate bonds and equities of medium to large sized Canadian and foreign companies. CO-OPERATORS CANADIAN FIXED INCOME FUND 30.07% CO-OPERATORS BLACKROCK CANADA UNIVERSE BOND INDEX FUND 30.07% CO-OPERATORS FIDELITY CANADIAN BOND FUND 20.04% CO-OPERATORS CANADIAN EQUITY FUND 4.98% CO-OPERATORS MAWER CANADIAN EQUITY FUND 4.97% CO-OPERATORS MAWER INTERNATIONAL EQUITY FUND 4.96% CO-OPERATORS BLACKROCK U.S. EQUITY INDEX FUND 4.91% How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 2.98% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 9 year(s) and down in value 1 year(s) of the % +5% 0% -5% -10% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. The top 10 investments make up % of the fund. Total number of investments: 7 Investment Segmentation At December 31, 2014 Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Fixed Income 77.58% Canadian Equity 9.68% U.S. Equity 4.86% International Equity 4.73% Cash & Other Net Assets 1.64% Foreign Fixed Income 1.51%

2 Co-operators Very Conservative Portfolio December 31, 2014 Who is this Fund for? For investors seeking a diversifi ed portfolio with a strong weighting towards income-producing Canadian bonds. Investors should be comfortable with small ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.00% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

3 Co-operators Conservative Portfolio December 31, 2014 Quick Facts Date fund created: December 31, 2003 Total value on December 31, 2014: $94,375,000 Net Asset Value per Unit: $ Number of Units Outstanding: 603,239 Management Expense Ratio (MER): 3.06% Portfolio Turnover Rate at December 31, 2014: 42.42% Minimum Investment: $25 Portfolio Manager: Co-operators Life Insurance Company What does the Fund invest in? This fund invests in Canadian government and corporate bonds and debentures and equities of medium to large sized Canadian and foreign companies. CO-OPERATORS BLACKROCK CANADA UNIVERSE BOND INDEX FUND 25.13% CO-OPERATORS CANADIAN FIXED INCOME FUND 25.11% CO-OPERATORS FIDELITY CANADIAN BOND FUND 10.04% CO-OPERATORS CANADIAN EQUITY FUND 9.98% CO-OPERATORS MAWER CANADIAN EQUITY FUND 9.97% CO-OPERATORS MAWER INTERNATIONAL EQUITY FUND 9.93% CO-OPERATORS BLACKROCK U.S. EQUITY INDEX FUND 9.84% How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 3.46% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 8 year(s) and down in value 2 year(s) of the % +10% +5% 0% -5% -10% -15% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. The top 10 investments make up % of the fund. Total number of investments: 7 Investment Segmentation At December 31, 2014 Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Fixed Income 58.48% Canadian Equity 19.41% U.S. Equity 9.73% International Equity 9.48% Cash & Other Net Assets 1.90% Foreign Fixed Income 1.00%

4 Co-operators Conservative Portfolio December 31, 2014 Who is this Fund for? For investors seeking a diversifi ed portfolio with a slight weighting towards income-producing Canadian bonds. Investors should be comfortable with some ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.06% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

5 Co-operators Moderate Portfolio December 31, 2014 Quick Facts Date fund created: December 31, 2003 Total value on December 31, 2014: $121,791,000 Net Asset Value per Unit: $ Number of Units Outstanding: 735,280 Management Expense Ratio (MER): 3.17% Portfolio Turnover Rate at December 31, 2014: 38.41% Minimum Investment: $25 Portfolio Manager: Co-operators Life Insurance Company What does the Fund invest in? This fund invests in Canadian government and corporate bonds and debentures and equities of medium to large sized Canadian and foreign companies. CO-OPERATORS BLACKROCK CANADA UNIVERSE BOND INDEX FUND 20.13% CO-OPERATORS CANADIAN FIXED INCOME FUND 20.12% CO-OPERATORS CANADIAN EQUITY FUND 14.99% CO-OPERATORS MAWER INTERNATIONAL EQUITY FUND 14.92% CO-OPERATORS FIDELITY TRUE NORTH FUND 9.99% CO-OPERATORS MAWER CANADIAN EQUITY FUND 9.99% CO-OPERATORS BLACKROCK U.S. EQUITY INDEX FUND 9.86% How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 3.78% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 7 year(s) and down in value 3 year(s) of the % % % % % % How risky is it? The value of your investments can go down. Please see the Information Folder for further details. The top 10 investments make up % of the fund. Total number of investments: 7 Investment Segmentation At December 31, 2014 Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Fixed Income 39.26% Canadian Equity 32.89% International Equity 14.43% U.S. Equity 10.23% Cash & Other Net Assets 2.69% Foreign Fixed Income 0.50%

6 Co-operators Moderate Portfolio December 31, 2014 Who is this Fund for? For investors seeking a diversifi ed portfolio with a slight weighting towards Canadian and foreign equities. Investors should be comfortable with moderate ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.17% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

7 Co-operators Aggressive Portfolio December 31, 2014 Quick Facts Date fund created: December 31, 2003 Total value on December 31, 2014: $67,844,000 Net Asset Value per Unit: $ Number of Units Outstanding: 396,110 Management Expense Ratio (MER): 3.28% Portfolio Turnover Rate at December 31, 2014: 36.35% Minimum Investment: $25 Portfolio Manager: Co-operators Life Insurance Company What does the Fund invest in? This fund invests in Canadian government and corporate bonds and debentures and equities of medium to large sized companies anywhere in the world. CO-OPERATORS CANADIAN EQUITY FUND 20.04% CO-OPERATORS MAWER CANADIAN EQUITY FUND 15.02% CO-OPERATORS MAWER INTERNATIONAL EQUITY FUND 14.96% CO-OPERATORS CANADIAN FIXED INCOME FUND 10.09% CO-OPERATORS BLACKROCK CANADA UNIVERSE BOND INDEX FUND 10.09% CO-OPERATORS FIDELITY TRUE NORTH FUND 10.02% CO-OPERATORS FIDELITY GLOBAL FUND 9.90% CO-OPERATORS BLACKROCK U.S. EQUITY INDEX FUND 9.88% The top 10 investments make up % of the fund. Total number of investments: 8 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 3.89% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 7 year(s) and down in value 3 year(s) of the % +10% 0% -10% -20% -30% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Equity 42.72% Canadian Fixed Income 19.69% International Equity 18.39% U.S. Equity 16.07% Cash & Other Net Assets 2.88% Foreign Fixed Income 0.25%

8 Co-operators Aggressive Portfolio December 31, 2014 Who is this Fund for? For investors seeking a diversifi ed portfolio with a strong weighting towards Canadian and foreign equities. Investors should be comfortable with moderate ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.28% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

9 Co-operators Very Aggressive Portfolio December 31, 2014 Quick Facts Date fund created: December 31, 2003 Total value on December 31, 2014: $22,798,000 Net Asset Value per Unit: $ Number of Units Outstanding: 124,747 Management Expense Ratio (MER): 3.34% Portfolio Turnover Rate at December 31, 2014: 26.92% Minimum Investment: $25 Portfolio Manager: Co-operators Life Insurance Company What does the Fund invest in? This fund invests in equities of small, medium and large sized companies located anywhere in the world. CO-OPERATORS CANADIAN EQUITY FUND 20.08% CO-OPERATORS FIDELITY TRUE NORTH FUND 15.05% CO-OPERATORS MAWER CANADIAN EQUITY FUND 15.05% CO-OPERATORS MAWER INTERNATIONAL EQUITY FUND 14.99% CO-OPERATORS BLACKROCK U.S. EQUITY INDEX FUND 14.85% CO-OPERATORS BLACKROCK CANADIAN EQUITY INDEX FUND 10.06% CO-OPERATORS FIDELITY GLOBAL FUND 9.92% How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 4.27% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 8 year(s) and down in value 2 year(s) of the % +20% 0% -20% -40% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. The top 10 investments make up % of the fund. Total number of investments: 7 Investment Segmentation At December 31, 2014 Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Equity 57.07% U.S. Equity 21.24% International Equity 18.52% Cash & Other Net Assets 3.14% Canadian Fixed Income 0.03%

10 Co-operators Very Aggressive Portfolio December 31, 2014 Who is this Fund for? For investors seeking a diversifi ed portfolio of Canadian and foreign equities. Investors should be comfortable with moderate ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.34% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

11 Co-operators Ethical Select Income Portfolio December 31, 2014 Quick Facts Date fund created: November 1, 2012 Total value on December 31, 2014: $1,032,000 Net Asset Value per Unit: $ Number of Units Outstanding: 9,772 Management Expense Ratio (MER): 3.11% Portfolio Turnover Rate at September 30, 2014: 22.92% Minimum Investment: $25 Portfolio Manager: NEI Investments What does the Fund invest in? This fund invests in primarily government and corporate bonds along with equities of small, medium, and large sized Canadian & foreign companies that fi t the fund s view of socially responsible investing. NEI CANADIAN BOND FUND 30.18% NEI GLOBAL TOTAL RETURN BOND FUND 27.24% NEI INCOME FUND 15.04% NEI ETHICAL GLOBAL DIVIDEND FUND 7.93% NEI ETHICAL GLOBAL EQUITY FUND 7.93% NEI ETHICAL CANADIAN EQUITY FUND 7.72% NEI ETHICAL AMERICAN MULTI-STRATEGY FUND 3.96% The top 10 investments make up % of the fund. Total number of investments: 7 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 2 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 2 year(s) ago now has $1, This works out to an average of 2.31% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 2 year(s). In the last 2 year(s) the fund was up in value 1 year(s) and down in value 1 year(s) of the 2. +5% +4% +3% +2% +1% 0% -1% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Fixed Income 38.84% Foreign Fixed Income 27.56% U.S. Equity 9.30% International Equity 8.80% Cash & Other Net Assets 8.50% Canadian Equity 7.00%

12 Co-operators Ethical Select Income Portfolio December 31, 2014 Who is this Fund for? For investors seeking a diversifi ed portfolio of socially responsible investments with a strong weighting towards incomeproducing fi xed income securities. Investors should be comfortable with small ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.11% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

13 Co-operators Ethical Select Conservative Portfolio December 31, 2014 Quick Facts Date fund created: November 1, 2012 Total value on December 31, 2014: $1,159,000 Net Asset Value per Unit: $ Number of Units Outstanding: 10,380 Management Expense Ratio (MER): 3.17% Portfolio Turnover Rate at September 30, 2014: 7.83% Minimum Investment: $25 Portfolio Manager: NEI Investments What does the Fund invest in? This fund invests in primarily government and corporate bonds along with equities of small, medium, and large sized Canadian & foreign companies that fi t the fund s view of socially responsible investing. NEI CANADIAN BOND FUND 22.03% NEI GLOBAL TOTAL RETURN BOND FUND 21.03% NEI INCOME FUND 12.03% NEI ETHICAL BALANCED FUND 9.91% NEI ETHICAL CANADIAN EQUITY FUND 9.81% NEI ETHICAL AMERICAN MULTI-STRATEGY FUND 8.09% NEI ETHICAL GLOBAL EQUITY FUND 6.07% NEI ETHICAL GLOBAL DIVIDEND FUND 5.97% NEI ETHICAL INTERNATIONAL EQUITY FUND 5.06% The top 10 investments make up % of the fund. Total number of investments: 9 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 2 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 2 year(s) ago now has $1, This works out to an average of 5.26% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 2 year(s). In the last 2 year(s) the fund was up in value 2 year(s) and down in value 0 year(s) of the 2. +6% +5% +4% +3% +2% +1% 0% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Fixed Income 33.15% Foreign Fixed Income 21.85% U.S. Equity 14.00% Canadian Equity 12.20% International Equity 11.60% Cash & Other Net Assets 7.20%

14 Co-operators Ethical Select Conservative Portfolio December 31, 2014 Who is this Fund for? For investors seeking a diversifi ed portfolio of socially responsible investments with a slight weighting towards incomeproducing fi xed income securities. Investors should be comfortable with small ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.17% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

15 Co-operators Ethical Select Balanced Portfolio December 31, 2014 Quick Facts Date fund created: November 1, 2012 Total value on December 31, 2014: $4,469,000 Net Asset Value per Unit: $ Number of Units Outstanding: 37,449 Management Expense Ratio (MER): 3.28% Portfolio Turnover Rate at September 30, 2014: 38.44% Minimum Investment: $25 Portfolio Manager: NEI Investments What does the Fund invest in? This fund invests in primarily government and corporate bonds along with equities of small, medium, and large sized Canadian & foreign companies that fi t the fund s view of socially responsible investing. NEI GLOBAL TOTAL RETURN BOND FUND 25.15% NEI ETHICAL AMERICAN MULTI-STRATEGY FUND 12.88% NEI ETHICAL CANADIAN EQUITY FUND 10.06% NEI ETHICAL BALANCED FUND 9.96% NEI ETHICAL GLOBAL EQUITY FUND 9.96% NEI ETHICAL GLOBAL DIVIDEND FUND 9.96% NEI ETHICAL INTERNATIONAL EQUITY FUND 6.94% NEI ETHICAL SPECIAL EQUITY FUND 5.03% NEI CANADIAN BOND FUND 5.03% NEI INCOME FUND 5.03% The top 10 investments make up % of the fund. Total number of investments: 10 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 2 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 2 year(s) ago now has $1, This works out to an average of 8.62% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 2 year(s). In the last 2 year(s) the fund was up in value 2 year(s) and down in value 0 year(s) of the % +10% +8% +6% +4% +2% 0% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Foreign Fixed Income 25.25% U.S. Equity 21.30% International Equity 17.90% Canadian Equity 17.30% Canadian Fixed Income 10.75% Cash & Other Net Assets 7.50%

16 Co-operators Ethical Select Balanced Portfolio December 31, 2014 Who is this Fund for? For investors seeking a diversifi ed portfolio of socially responsible investments with a slight weighting towards Canadian and foreign equities. Investors should be comfortable with some ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.28% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

17 Co-operators Ethical Select Growth Portfolio December 31, 2014 Quick Facts Date fund created: November 1, 2012 Total value on December 31, 2014: $1,860,000 Net Asset Value per Unit: $ Number of Units Outstanding: 14,920 Management Expense Ratio (MER): 3.50% Portfolio Turnover Rate at September 30, 2014: 20.35% Minimum Investment: $25 Portfolio Manager: NEI Investments What does the Fund invest in? This fund invests in primarily government and corporate bonds along with equities of small, medium, and large sized Canadian & foreign companies that fi t the fund s view of socially responsible investing. NEI ETHICAL AMERICAN MULTI-STRATEGY FUND 18.32% NEI ETHICAL CANADIAN EQUITY FUND 15.19% NEI ETHICAL GLOBAL DIVIDEND FUND 14.79% NEI ETHICAL BALANCED FUND 12.07% NEI ETHICAL GLOBAL EQUITY FUND 11.87% NEI GLOBAL TOTAL RETURN BOND FUND 9.86% NEI ETHICAL INTERNATIONAL EQUITY FUND 9.15% NEI ETHICAL SPECIAL EQUITY FUND 8.75% The top 10 investments make up % of the fund. Total number of investments: 8 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 2 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 2 year(s) ago now has $1, This works out to an average of 10.65% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 2 year(s). In the last 2 year(s) the fund was up in value 2 year(s) and down in value 0 year(s) of the % +15% +10% +5% 0% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. U.S. Equity 27.90% Canadian Equity 25.80% International Equity 22.10% Foreign Fixed Income 14.75% Cash & Other Net Assets 6.70% Canadian Fixed Income 2.75%

18 Co-operators Ethical Select Growth Portfolio December 31, 2014 Who is this Fund for? For investors seeking a diversifi ed portfolio of socially responsible investments with a strong weighting towards Canadian and foreign equities. Investors should be comfortable with moderate ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.50% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

19 Co-operators Canadian Fixed Income Fund December 31, 2014 Quick Facts Date fund created: January 7, 2003 Total value on December 31, 2014: $130,404,000 Net Asset Value per Unit: $ Number of Units Outstanding: 890,628 Management Expense Ratio (MER): 2.73% Portfolio Turnover Rate at December 31, 2014: 98.00% Minimum Investment: $25 Portfolio Manager: Addenda Capital Inc. What does the Fund invest in? This fund invests in Canadian government and corporate bonds and debentures that fi t the fund s view of sustainable investing. PROVINCE OF ONTARIO 4.65% JUN 02/ % CANADA HOUSING TRUST 2.95% MAR 15/ % CANADA HOUSING TRUST 2.05% JUN 15/ % CANADA HOUSING TRUST 2.40% DEC 15/ % PROVINCE OF QUEBEC 3.00% SEP 01/ % GOVERNMENT OF CANADA 1.25% SEP 01/ % GOVERNMENT OF CANADA 3.50% DEC 01/ % PROVINCE OF QUEBEC 6.25% JUN 01/ % CANADA HOUSING TRUST 1.70% DEC 15/ % GOVERNMENT OF CANADA T-BILLS DUE JUN 04/ % The top 10 investments make up 30.54% of the fund. Total number of investments: 167 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 2.87% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 9 year(s) and down in value 1 year(s) of the % +6% +4% +2% 0% -2% -4% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Corporate Bonds 32.72% Canadian Federal Bonds 29.87% Canadian Provincial Bonds 28.91% Canadian Municipal Bonds 3.91% Foreign Corporate Bonds 2.48% Cash & Other Net Assets 2.11%

20 Co-operators Canadian Fixed Income Fund December 31, 2014 Who is this Fund for? For investors seeking a fi xed income investment with the potential for interest income and a medium to long-term investment horizon. Investors should be comfortable with small ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 2.73% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

21 Co-operators Fidelity Canadian Bond Fund December 31, 2014 Quick Facts Date fund created: December 31, 2003 Total value on December 31, 2014: $27,053,000 Net Asset Value per Unit: $ Number of Units Outstanding: 198,338 Management Expense Ratio (MER): 3.11% Portfolio Turnover Rate at June 30, 2014: 49.00% Minimum Investment: $25 Portfolio Manager: Fidelity Investments Canada ULC What does the Fund invest in? This fund invests in primarily Canadian government and corporate bonds and debentures. PROVINCE OF ONTARIO 2.85% JUN 02/ % CANADA HOUSING TRUST 2.00% DEC 15/ % GOVERNMENT OF CANADA 3.50% DEC 01/ % PROVINCE OF ONTARIO 4.20% JUN 02/ % CANADA HOUSING TRUST 2.35% SEP 15/ % PROVINCE OF QUEBEC 4.25% DEC 01/ % PROVINCE OF QUEBEC 5.00% DEC 01/ % CANADA HOUSING TRUST 2.65% MAR 01/ % GOVERNMENT OF CANADA 2.50% JUN 01/ % GOVERNMENT OF CANADA 1.75% SEP 01/ % The top 10 investments make up 18.53% of the fund. Total number of investments: 499 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 2.62% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 9 year(s) and down in value 1 year(s) of the % +6% +4% +2% 0% -2% -4% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Corporate Bonds 50.53% Canadian Provincial Bonds 22.93% Canadian Agency Bonds 10.66% Canadian Federal Bonds 7.02% Foreign Bonds 3.79% Canadian Municipal Bonds 3.32% Cash & Other Net Assets 1.75%

22 Co-operators Fidelity Canadian Bond Fund December 31, 2014 Who is this Fund for? For investors seeking a fi xed income investment with the potential for interest income and a medium to long-term investment horizon. Investors should be comfortable with small ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.11% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

23 Co-operators Money Market Fund December 31, 2014 Quick Facts Date fund created: February 4, 2003 Total value on December 31, 2014: $10,048,000 Net Asset Value per Unit: $ Number of Units Outstanding: 85,958 Management Expense Ratio (MER): 1.09% Portfolio Turnover Rate at December 31, 2014: % Minimum Investment: $25 Portfolio Manager: Addenda Capital Inc. What does the Fund invest in? This fund invests in short-term Canadian investments in the Government of Canada, the provinces, or high grade Canadian companies that fi t the fund s view of sustainable investing. GOVERNMENT OF CANADA T-BILLS DUE APR 09/ % MERIT TRUST DISCOUNT NOTE DUE DEC 18/ % GOVERNMENT OF CANADA T-BILLS DUE JUN 04/ % MANULIFE FINANCIAL CORPORATION 5.161% JUN 26/ % VW CREDIT CANADA FLOATING RATE NOTE DUE AUG 19/ % BANK OF MONTREAL FLOATING RATE NOTE DUE JUN 19/ % ZEUS TRUST DISCOUNT NOTE DUE JAN 08/ % CONCENTRA FINANCIAL CANADA DISCOUNT NOTE DUE SEP 25/ % NATIONAL BANK OF CANADA 4.03% MAY 26/ % BMW CANADA INC. 2.64% AUG 10/ % The top 10 investments make up 66.74% of the fund. Total number of investments: 19 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 0.55% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 7 year(s) and down in value 3 year(s) of the % % % % -1% % How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Cash & Short Term %

24 Co-operators Money Market Fund December 31, 2014 Who is this Fund for? For investors seeking interest income and a high level of liquidity with a short to medium-term investment horizon. Investors should be comfortable with small ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 1.09% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

25 Co-operators Aggressive Balanced Fund December 31, 2014 Quick Facts Date fund created: January 14, 2003 Total value on December 31, 2014: $15,580,000 Net Asset Value per Unit: $ Number of Units Outstanding: 77,888 Management Expense Ratio (MER): 2.73% Portfolio Turnover Rate at December 31, 2014: 77.80% Minimum Investment: $25 Portfolio Manager: Co-operators Life Insurance Company What does the Fund invest in? This fund invests in Canadian government and corporate bonds and debentures and equities of medium to large sized Canadian and U.S. companies. CO-OPERATORS CANADIAN FIXED INCOME FUND 36.22% CO-OPERATORS CANADIAN EQUITY FUND 34.98% CO-OPERATORS U.S. EQUITY FUND 18.71% CO-OPERATORS CANADIAN RESOURCE FUND 8.09% CO-OPERATORS MONEY MARKET FUND 2.00% How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 4.47% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 8 year(s) and down in value 2 year(s) of the % +10% 0% -10% -20% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. The top 10 investments make up % of the fund. Total number of investments: 5 Investment Segmentation At December 31, 2014 Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Equity 42.51% Canadian Fixed Income 34.56% U.S. Equity 18.37% Cash & Other Net Assets 3.66% Foreign Fixed Income 0.90%

26 Co-operators Aggressive Balanced Fund December 31, 2014 Who is this Fund for? For investors seeking both growth and income through a combination of equities and fi xed income securities and who have a medium to long-term investment horizon. Investors should be comfortable with some ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 2.73% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

27 Co-operators Balanced Fund December 31, 2014 Quick Facts Date fund created: January 7, 2003 Total value on December 31, 2014: $118,580,000 Net Asset Value per Unit: $ Number of Units Outstanding: 440,998 Management Expense Ratio (MER): 2.74% Portfolio Turnover Rate at December 31, 2014: 61.60% Minimum Investment: $25 Portfolio Manager: Addenda Capital Inc. What does the Fund invest in? This fund invests in Canadian government and corporate bonds and debentures and equities of medium to large sized Canadian and U.S. companies that fi t the fund s view of sustainable investing. TORONTO-DOMINION BANK 3.83% BANK OF NOVA SCOTIA 2.73% MANULIFE FINANCIAL CORPORATION 2.18% CANADA HOUSING TRUST 2.95% MAR 15/ % GOVERNMENT OF CANADA T-BILLS DUE APR 09/ % BROOKFIELD ASSET MANAGEMENT INC. 1.99% CANADIAN NATIONAL RAILWAY COMPANY 1.96% ROYAL BANK OF CANADA 1.87% BANK OF MONTREAL 1.76% TRANSCANADA CORPORATION 1.52% The top 10 investments make up 22.01% of the fund. Total number of investments: 274 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 4.56% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 8 year(s) and down in value 2 year(s) of the % +10% 0% -10% -20% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Equity 44.06% Canadian Fixed Income 34.43% U.S. Equity 17.50% Cash & Other Net Assets 3.17% Foreign Fixed Income 0.84%

28 Co-operators Balanced Fund December 31, 2014 Who is this Fund for? For investors seeking both growth and income through a combination of equities and fi xed income securities and who have a medium to long-term investment horizon. Investors should be comfortable with some ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 2.74% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

29 Co-operators Conservative Balanced Fund December 31, 2014 Quick Facts Date fund created: January 14, 2003 Total value on December 31, 2014: $11,109,000 Net Asset Value per Unit: $ Number of Units Outstanding: 64,222 Management Expense Ratio (MER): 2.73% Portfolio Turnover Rate at December 31, 2014: 83.74% Minimum Investment: $25 Portfolio Manager: Co-operators Life Insurance Company Investment Segmentation At December 31, 2014 Canadian Fixed Income 51.77% Canadian Equity 29.60% U.S. Equity 11.59% Cash & Other Net Assets 5.69% Foreign Fixed Income 1.35% What does the Fund invest in? This fund invests in Canadian government and corporate bonds and debentures and equities of medium to large sized Canadian and U.S. companies. CO-OPERATORS CANADIAN FIXED INCOME FUND 54.26% CO-OPERATORS CANADIAN EQUITY FUND 29.95% CO-OPERATORS U.S. EQUITY FUND 11.80% CO-OPERATORS MONEY MARKET FUND 3.99% The top 10 investments make up % of the fund. Total number of investments: 4 CO-OPERATORS CANADIAN FIXED INCOME FUND held the following top 10 investments: PROVINCE OF ONTARIO 4.65% JUN 02/ % CANADA HOUSING TRUST 2.95% MAR 15/ % CANADA HOUSING TRUST 2.05% JUN 15/ % CANADA HOUSING TRUST 2.40% DEC 15/ % PROVINCE OF QUEBEC 3.00% SEP 01/ % GOVERNMENT OF CANADA 1.25% SEP 01/ % GOVERNMENT OF CANADA 3.50% DEC 01/ % PROVINCE OF QUEBEC 6.25% JUN 01/ % CANADA HOUSING TRUST 1.70% DEC 15/ % GOVERNMENT OF CANADA T-BILLS DUE JUN 04/ % How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 3.86% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 8 year(s) and down in value 2 year(s) of the % +10% +5% 0% -5% -10% -15% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy.

30 Co-operators Conservative Balanced Fund December 31, 2014 Who is this Fund for? For investors seeking both growth and income through a combination of equities and fi xed income securities and who have a medium to long-term investment horizon. Investors should be comfortable with some ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 2.73% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

31 Co-operators Ethical Balanced Fund December 31, 2014 Quick Facts Date fund created: November 1, 2012 Total value on December 31, 2014: $611,000 Net Asset Value per Unit: $ Number of Units Outstanding: 5,672 Management Expense Ratio (MER): 3.17% Portfolio Turnover Rate at September 30, 2014: % Minimum Investment: $25 Portfolio Manager: NEI Investments What does the Fund invest in? This fund invests in government and corporate bonds and debentures along with equities of medium to large sized companies that fi t the fund s view of socially responsible investing. GOVERNMENT OF CANADA 1.50% JUN 01/ % GOVERNMENT OF CANADA 4.00% JUN 01/ % U.S. TREASURY BONDS 2.75% FEB 15/ % CVS HEALTH CORPORATION 2.90% ROYAL BANK OF CANADA 2.98% MAY 07/ % JOHNSON & JOHNSON 2.60% COVANTA HOLDING CORPORATION 2.30% BANK OF MONTREAL 2.24% DEC 11/ % BLACKROCK INC. 2.20% TORONTO-DOMINION BANK 2.171% APR 02/ % The top 10 investments make up 37.30% of the fund. Total number of investments: 64 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 2 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 2 year(s) ago now has $1, This works out to an average of 4.32% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 2 year(s). In the last 2 year(s) the fund was up in value 2 year(s) and down in value 0 year(s) of the 2. +6% +5% +4% +3% +2% +1% 0% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Fixed Income 35.86% Canadian Equity 34.01% U.S. Equity 19.16% Foreign Fixed Income 8.56% International Equity 1.48% Cash & Other Net Assets 0.93%

32 Co-operators Ethical Balanced Fund December 31, 2014 Who is this Fund for? For investors seeking both growth and income through a combination of socially responsible equities and fi xed income securities and who have a medium to long-term investment horizon. Investors should be comfortable with some ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.17% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

33 Co-operators Mawer Balanced Fund December 31, 2014 Quick Facts Date fund created: November 1, 2012 Total value on December 31, 2014: $23,427,000 Net Asset Value per Unit: $ Number of Units Outstanding: 176,283 Management Expense Ratio (MER): 2.95% Portfolio Turnover Rate at December 31, 2014: 5.82% Minimum Investment: $25 Portfolio Manager: Mawer Investment Management Ltd. What does the Fund invest in? This fund invests in Canadian government and corporate bonds and debentures and equities of small, medium, and large sized companies throughout the world. MAWER CANADIAN BOND FUND 30.81% MAWER U.S. EQUITY FUND 20.56% MAWER INTERNATIONAL EQUITY FUND 16.25% MAWER CANADIAN EQUITY FUND 13.18% MAWER GLOBAL SMALL CAP FUND 6.76% MAWER NEW CANADA FUND 4.44% GOVERNMENT OF CANADA T-BILLS DUE MAR 12/ % GOVERNMENT OF CANADA T-BILLS DUE MAR 26/ % GOVERNMENT OF CANADA T-BILLS DUE JAN 15/ % GOVERNMENT OF CANADA T-BILLS DUE FEB 12/ % The top 10 investments make up 99.50% of the fund. Total number of investments: 13 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 2 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 2 year(s) ago now has $1, This works out to an average of 13.62% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 2 year(s). In the last 2 year(s) the fund was up in value 2 year(s) and down in value 0 year(s) of the % +15% +10% +5% 0% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Fixed Income 30.81% International Equity 21.66% U.S. Equity 21.24% Canadian Equity 18.30% Cash & Other Net Assets 7.99%

34 Co-operators Mawer Balanced Fund December 31, 2014 Who is this Fund for? For investors seeking both growth and income through a combination of equities and fi xed income securities and who have a medium to long-term investment horizon. Investors should be comfortable with some ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 2.95% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

35 Co-operators Bissett Canadian Dividend Fund December 31, 2014 Quick Facts Date fund created: November 1, 2012 Total value on December 31, 2014: $18,943,000 Net Asset Value per Unit: $ Number of Units Outstanding: 420,324 Management Expense Ratio (MER): 3.06% Portfolio Turnover Rate at December 31, 2014: 27.90% Minimum Investment: $25 Portfolio Manager: Franklin Templeton Investments Corp. What does the Fund invest in? This fund invests in primarily dividend paying or income producing Canadian securities. CANADIAN IMPERIAL BANK OF COMMERCE 5.91% POWER FINANCIAL CORPORATION 5.58% ROYAL BANK OF CANADA 5.07% TORONTO-DOMINION BANK 4.81% BANK OF NOVA SCOTIA 4.62% THOMSON REUTERS CORPORATION 4.57% BANK OF MONTREAL 4.57% ENBRIDGE INCOME FUND HOLDINGS INC. 4.57% NATIONAL BANK OF CANADA 4.17% ENBRIDGE INC. 3.99% The top 10 investments make up 47.86% of the fund. Total number of investments: 44 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 2 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 2 year(s) ago now has $1, This works out to an average of 6.90% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 2 year(s). In the last 2 year(s) the fund was up in value 1 year(s) and down in value 1 year(s) of the % +15% +10% +5% 0% -5% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Financials 39.13% Energy 30.81% Industrials 10.40% Materials 5.11% Utilities 4.64% Consumer Discretionary 4.56% Telecommunications 2.74% Cash & Other Net Assets 1.48% Consumer Staples 1.13%

36 Co-operators Bissett Canadian Dividend Fund December 31, 2014 Who is this Fund for? For investors seeking income and growth provided by capital appreciation of Canadian equities and with a medium to longterm investment horizon. Investors should be comfortable with moderate ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.06% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

37 Co-operators Canadian Equity Fund December 31, 2014 Quick Facts Date fund created: January 7, 2003 Total value on December 31, 2014: $125,722,000 Net Asset Value per Unit: $ Number of Units Outstanding: 554,430 Management Expense Ratio (MER): 2.74% Portfolio Turnover Rate at December 31, 2014: 56.10% Minimum Investment: $25 Portfolio Manager: Addenda Capital Inc. What does the Fund invest in? This fund invests in Canadian equities of medium to large sized companies. TORONTO-DOMINION BANK 8.57% BANK OF NOVA SCOTIA 6.14% MANULIFE FINANCIAL CORPORATION 4.90% BROOKFIELD ASSET MANAGEMENT INC. 4.44% CANADIAN NATIONAL RAILWAY COMPANY 4.40% ROYAL BANK OF CANADA 4.20% BANK OF MONTREAL 3.94% TRANSCANADA CORPORATION 3.40% CANADIAN NATURAL RESOURCES LTD. 2.86% SUNCOR ENERGY INC. 2.81% The top 10 investments make up 45.66% of the fund. Total number of investments: 58 Investment Segmentation At December 31, 2014 Financials 38.15% Energy 21.25% Industrials 9.89% Materials 8.79% Consumer Discretionary 7.25% Information Technology 6.19% Consumer Staples 4.78% Telecommunications 2.51% Cash & Other Net Assets 1.19% How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 4.36% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 8 year(s) and down in value 2 year(s) of the % +20% 0% -20% -40% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy.

38 Co-operators Canadian Equity Fund December 31, 2014 Who is this Fund for? For investors seeking growth provided by capital appreciation of Canadian equities and with a long-term investment horizon. Investors should be comfortable with above average ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 2.74% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

39 Co-operators Canadian Resource Fund December 31, 2014 Quick Facts Date fund created: December 31, 2003 Total value on December 31, 2014: $28,061,000 Net Asset Value per Unit: $ Number of Units Outstanding: 126,044 Management Expense Ratio (MER): 2.74% Portfolio Turnover Rate at December 31, 2014: % Minimum Investment: $25 Portfolio Manager: Addenda Capital Inc. What does the Fund invest in? This fund invests in equities of businesses involved in natural resources that fi t the fund s view of sustainable investing. TRANSCANADA CORPORATION 8.39% ALTAGAS LTD. 7.87% CANADIAN NATURAL RESOURCES LTD. 6.11% PEMBINA PIPELINE CORPORATION 5.81% ENBRIDGE INC. 5.72% CANADIAN PACIFIC RAILWAY COMPANY 5.71% CANADIAN NATIONAL RAILWAY COMPANY 5.12% CCL INDUSTRIES INC. 5.11% GOLDCORP INC. 4.80% KEYERA CORPORATION 3.66% The top 10 investments make up 58.30% of the fund. Total number of investments: 38 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 4.72% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 5 year(s) and down in value 5 year(s) of the % % +20% 0% -20% -40% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Energy 61.31% Materials 23.19% Industrials 13.69% Cash & Other Net Assets 1.81%

40 Co-operators Canadian Resource Fund December 31, 2014 Who is this Fund for? For investors seeking growth provided by capital appreciation of Canadian equities focused on the energy and materials sectors and with a long-term investment horizon. Investors should be comfortable with large ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 2.74% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

41 Co-operators Ethical Canadian Equity Fund December 31, 2014 Quick Facts Date fund created: November 1, 2012 Total value on December 31, 2014: $1,519,000 Net Asset Value per Unit: $ Number of Units Outstanding: 11,023 Management Expense Ratio (MER): 3.28% Portfolio Turnover Rate at September 30, 2014: 19.17% Minimum Investment: $25 Portfolio Manager: NEI Investments What does the Fund invest in? This fund invests in primarily dividend paying or income producing Canadian securities that fi t the fund s view of socially responsible investing. ATCO LTD. 5.50% CGI GROUP INC. 5.10% TORONTO-DOMINION BANK 5.00% SUNCOR ENERGY INC. 4.80% CANADIAN NATURAL RESOURCES LTD. 4.30% SCOTIABANK 4.30% OPEN TEXT CORPORATION 4.20% CANADIAN TIRE CORPORATION 3.90% EMPIRE COMPANY 3.50% INDUSTRIAL ALLIANCE INSURANCE AND FINANCIAL SERVICES 3.40% The top 10 investments make up 44.00% of the fund. Total number of investments: 31 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 2 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 2 year(s) ago now has $1, This works out to an average of 14.57% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 2 year(s). In the last 2 year(s) the fund was up in value 2 year(s) and down in value 0 year(s) of the % +20% +15% +10% +5% 0% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Equity 87.20% Cash & Other Net Assets 9.70% U.S. Equity 3.10%

42 Co-operators Ethical Canadian Equity Fund December 31, 2014 Who is this Fund for? For investors seeking income and growth provided by capital appreciation of socially responsible Canadian equities and with a medium to long-term investment horizon. Investors should be comfortable with moderate ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.28% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

43 Co-operators Fidelity True North Fund December 31, 2014 Quick Facts Date fund created: December 31, 2003 Total value on December 31, 2014: $45,318,000 Net Asset Value per Unit: $ Number of Units Outstanding: 212,562 Management Expense Ratio (MER): 3.28% Portfolio Turnover Rate at June 30, 2014: 27.00% Minimum Investment: $25 Portfolio Manager: Fidelity Investments Canada ULC What does the Fund invest in? This fund invests in Canadian equity securities of small, medium and large sized companies. May invest up to 30% outside Canada. TORONTO-DOMINION BANK 7.58% LOBLAW COMPANIES LTD. 4.63% CANADIAN NATIONAL RAILWAY COMPANY 3.88% CGI GROUP INC. 3.79% MANULIFE FINANCIAL CORPORATION 3.69% ALIMENTATION COUCHE-TARD INC. 3.62% SUNCOR ENERGY INC. 3.14% ENBRIDGE INC. 2.75% POWER CORPORATION OF CANADA 2.64% VALEANT PHARMACEUTICALS INTERNATIONAL INC. 2.61% The top 10 investments make up 38.33% of the fund. Total number of investments: 93 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 7.09% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 8 year(s) and down in value 2 year(s) of the % +20% 0% -20% -40% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Canadian Equity 85.26% Cash & Other Net Assets 7.80% U.S. Equity 4.79% International Equity 1.92% Canadian Fixed Income 0.23%

44 Co-operators Fidelity True North Fund December 31, 2014 Who is this Fund for? For investors seeking growth provided by capital appreciation of Canadian equities and with a long-term investment horizon. Investors should be comfortable with above average ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.28% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

45 Co-operators Mawer Canadian Equity Fund December 31, 2014 Quick Facts Date fund created: November 1, 2012 Total value on December 31, 2014: $50,023,000 Net Asset Value per Unit: $ Number of Units Outstanding: 345,338 Management Expense Ratio (MER): 2.95% Portfolio Turnover Rate at December 31, 2014: 11.31% Minimum Investment: $25 Portfolio Manager: Mawer Investment Management Ltd. What does the Fund invest in? This fund invests in Canadian equities of medium to large sized companies. BROOKFIELD ASSET MANAGEMENT INC. 4.73% CANADIAN NATIONAL RAILWAY COMPANY 4.72% TORONTO-DOMINION BANK 4.64% CONSTELLATION SOFTWARE INC. 4.62% ROYAL BANK OF CANADA 4.05% BANK OF NOVA SCOTIA 3.90% TELUS CORPORATION 3.22% SAPUTO INC. 3.10% LOBLAW COMPANIES LTD. 3.06% ROGERS COMMUNICATIONS INC. 2.79% The top 10 investments make up 38.83% of the fund. Total number of investments: 50 Investment Segmentation At December 31, 2014 Financials 35.62% Industrials 16.23% Energy 12.65% Consumer Discretionary 7.93% Consumer Staples 6.18% Telecommunications 6.01% Information Technology 4.62% Materials 4.53% Cash & Other Net Assets 4.27% Health Care 1.96% How has the Fund performed? This section tells you how the fund has performed over the past 2 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 2 year(s) ago now has $1, This works out to an average of 18.33% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 2 year(s). In the last 2 year(s) the fund was up in value 2 year(s) and down in value 0 year(s) of the % +20% +15% +10% +5% 0% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy.

46 Co-operators Mawer Canadian Equity Fund December 31, 2014 Who is this Fund for? For investors seeking growth provided by capital appreciation of Canadian equities and with a long-term investment horizon. Investors should be comfortable with moderate ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 2.95% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

47 Co-operators Ethical International Equity Fund December 31, 2014 Quick Facts Date fund created: November 1, 2012 Total value on December 31, 2014: $328,000 Net Asset Value per Unit: $ Number of Units Outstanding: 2,516 Management Expense Ratio (MER): 3.61% Portfolio Turnover Rate at September 30, 2014: % Minimum Investment: $25 Portfolio Manager: NEI Investments What does the Fund invest in? This fund invests in equity securities of medium to large sized companies generally located outside of Canada and the United States that fi t the fund s view of socially responsible investing. FRESENIUS SE & COMPANY 3.80% PRUDENTIAL FINANCIAL INC. 3.40% NIDEC CORPORATION 3.40% ARYZTA AG 3.30% LONZA GROUP 2.90% SMITH & NEPHEW PLC 2.80% DIAGEO PLC 2.60% RAKUTEN 2.60% AIR WATER 2.60% WPP GROUP PLC 2.60% The top 10 investments make up 30.00% of the fund. Total number of investments: 50 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 2 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 2 year(s) ago now has $1, This works out to an average of 11.64% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 2 year(s). In the last 2 year(s) the fund was up in value 2 year(s) and down in value 0 year(s) of the % +20% +15% +10% +5% 0% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. United Kingdom 22.60% France 20.90% Switzerland 15.70% Japan 15.50% Germany 9.70% Netherlands 7.80% Cash & Other Net Assets 2.10% United States 2.10% Denmark 2.00% Spain 1.60%

48 Co-operators Ethical International Equity Fund December 31, 2014 Who is this Fund for? For investors seeking growth over a long-term investment horizon and who want to invest in a broad range of socially responsible equities in countries primarily outside of North America. Investors should be comfortable with above moderate ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.61% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

49 Co-operators Fidelity Global Fund December 31, 2014 Quick Facts Date fund created: December 31, 2003 Total value on December 31, 2014: $13,424,000 Net Asset Value per Unit: $ Number of Units Outstanding: 101,676 Management Expense Ratio (MER): 3.67% Portfolio Turnover Rate at March 31, 2014: 59.00% Minimum Investment: $25 Portfolio Manager: Fidelity Investments Canada ULC What does the Fund invest in? This fund invests in equities of small, medium and large sized companies located anywhere in the world. MICROSOFT CORPORATION 2.76% AETNA INC. 2.71% LOWE S COMPANIES INC. 2.66% COMCAST CORPORATION 2.61% JPMORGAN CHASE & COMPANY 2.52% WALT DISNEY COMPANY 2.35% KDDI CORPORATION 2.32% MORGAN STANLEY 2.25% JOHNSON & JOHNSON 2.10% GOOGLE INC. 2.05% The top 10 investments make up 24.33% of the fund. Total number of investments: 94 Investment Segmentation At December 31, 2014 United States 58.82% Japan 11.56% Other Countries 7.54% Netherlands 5.01% United Kingdom 4.59% Switzerland 3.49% France 3.28% China 2.19% Ireland 1.90% Cash & Other Net Assets 1.62% How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 1.54% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 7 year(s) and down in value 3 year(s) of the % % % -20% -40% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy.

50 Co-operators Fidelity Global Fund December 31, 2014 Who is this Fund for? For investors seeking growth in a broad range of foreign equities in countries around the world and with a long-term investment horizon. Investors should be comfortable with moderate ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.67% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

51 Co-operators Mawer International Equity Fund December 31, 2014 Quick Facts Date fund created: November 1, 2012 Total value on December 31, 2014: $51,326,000 Net Asset Value per Unit: $ Number of Units Outstanding: 489,683 Management Expense Ratio (MER): 3.11% Portfolio Turnover Rate at December 31, 2014: 21.07% Minimum Investment: $25 Portfolio Manager: Mawer Investment Management Ltd. What does the Fund invest in? This fund invests in equity securities of medium to large sized companies generally located outside of Canada and the United States. AON PLC 3.79% ROCHE HOLDING AG 2.96% INTERTEK GROUP PLC 2.91% AIR LIQUIDE SA 2.90% JARDINE MATHESON HOLDINGS LTD. 2.88% CRODA INTERNATIONAL PLC 2.75% CHINA MOBILE LTD. 2.63% ANHEUSER-BUSCH INBEV N.V. 2.60% DEUTSCHE BOERSE AG 2.48% BMW AG 2.39% The top 10 investments make up 28.29% of the fund. Total number of investments: 70 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 2 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 2 year(s) ago now has $1, This works out to an average of 13.63% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 2 year(s). In the last 2 year(s) the fund was up in value 2 year(s) and down in value 0 year(s) of the % +20% +15% +10% +5% 0% How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. United Kingdom 28.56% Other Countries 28.11% Germany 7.90% Switzerland 7.56% United States 5.96% Japan 4.83% Cash & Other Net Assets 4.54% France 4.51% Singapore 4.11% Sweden 3.92%

52 Co-operators Mawer International Equity Fund December 31, 2014 Who is this Fund for? For investors seeking growth in a broad range of primarily non-north American equities and with a long-term investment horizon. Investors should be comfortable with above average ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 3.11% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]

53 Co-operators U.S. Equity Fund December 31, 2014 Quick Facts Date fund created: February 4, 2003 Total value on December 31, 2014: $26,979,000 Net Asset Value per Unit: $ Number of Units Outstanding: 157,098 Management Expense Ratio (MER): 2.75% Portfolio Turnover Rate at December 31, 2014: 29.40% Minimum Investment: $25 Portfolio Manager: Addenda Capital Inc. What does the Fund invest in? This fund invests in equities of medium to large sized companies located in the United States that fi t the fund s view of sustainable investing. APPLE INC. 4.64% GILEAD SCIENCES INC. 3.77% THERMO FISHER SCIENTIFIC INC. 3.05% EXPRESS SCRIPTS HOLDINGS 2.95% TJX COMPANIES INC. 2.74% NIKE INC. 2.68% WALT DISNEY COMPANY 2.43% JOHNSON & JOHNSON 2.35% WELLS FARGO & COMPANY 2.30% CVS HEALTH CORPORATION 2.25% The top 10 investments make up 29.16% of the fund. Total number of investments: 66 Investment Segmentation At December 31, 2014 How has the Fund performed? This section tells you how the fund has performed over the past 10 year(s). Returns are after the MER has been deducted. It is important to note that this does not tell you how the fund will perform in the future. Average Return A person who invested $1,000 in the fund 10 year(s) ago now has $1, This works out to an average of 4.60% per year. Year-by-year Returns This chart shows how the fund has performed in each of the past 10 year(s). In the last 10 year(s) the fund was up in value 8 year(s) and down in value 2 year(s) of the % % % % -20% % How risky is it? The value of your investments can go down. Please see the Information Folder for further details. Are there any guarantees? This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect a policyholder s investment if the markets go down. The Management Expense Ratio (MER) includes the insurance cost for the guarantee. For details please refer to the Information Folder and Policy. Information Technology 23.75% Financials 15.36% Health Care 15.18% Consumer Discretionary 13.39% Industrials 12.08% Consumer Staples 10.04% Energy 4.16% Cash & Other Net Assets 3.85% Materials 2.19%

54 Co-operators U.S. Equity Fund December 31, 2014 Who is this Fund for? For investors seeking growth with a long-term investment horizon and who want to invest primarily in equities of large companies based in the United States. Investors should be comfortable with moderate ups and downs of the market. How much does it cost? The following table shows the fees and expenses you could pay to buy, own and sell units of the fund. 1. Surrender Charges Surrender Charge Option What you Pay If you sell all of your funds in: Less than 2 years 5% 2, but less than 3 4% 3, but less than 4 3% 4, but less than 5 2% 5, but less than 6 1% After 6 years 0% How it Works The deferred sales charge is a set rate. It is deducted from the amount that you sell. When you make a deposit, Co-operators pays your fi nancial advisor a commission of 3%. If you have an RRSP or non-registered account you can withdraw 10% of the value of the units of your segregated funds at December 31 without paying a deferred sales charge. You can switch to units of other funds under the policy without paying a deferred sales charge. No-load There are no deferred sales charges. 2. Ongoing fund expense The Management Expense Ratio (MER) includes the management fee and operating expenses of the fund. The MER includes the insurance cost for the guarantee. You do not pay these expenses directly. They affect you because they reduce the return you get on your investment. For details about how the guarantee works, see your Policy and Information Folder. For details on the MER, please see the Information Folder. Surrender Charge Option MER (annual rate as a % of the fund value) 2.75% Trailing Commission Co-operators Life Insurance Company pays your fi nancial advisor a trailing commission for as long as you own segregated funds. It is for the services and advice your fi nancial advisor provides you. The trailing commission is paid out of the management fee. The rate depends on the sales charge option you choose: 0.038% of the monthly value of your investment 3. Other Fees You may pay other fees when you sell or transfer units of the fund. Withdrawal service fee Interfund transfer fee $25 after the fi rst withdrawal each calendar year $20 after the fourth interfund transfer each calendar year What if I change my mind? You can change your mind within two business days of the earlier of the date you received confi rmation or fi ve business days after it is mailed. You have to tell us in writing ( , fax, or letter) that you want to cancel. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specifi c transaction. You can also change your mind about subsequent transactions you make under the policy within two business days from the date you received confi rmation. In this case, the right to cancel only applies to the new transaction. For more information The summary may not contain all the information you need. Please read the Policy and Information Folder. Co-operators Life Insurance Company 1920 College Avenue Regina, SK S4P 1C4 Service Centre: address: [email protected]