Printed on 12-23-2014 Pyramis Select International Equity Fund Fund Category International Equity Morningstar Return Above Average General Information Performance Analysis as at 11-30-2014 Fund Code Fund Inception Underlying Inception Registered Plan Eligibility Fund Assets ($Mil) Underlying Assets ($Mil) 285 March 2010 February 2003 100% 15.34 666.77 Investment Fees % Operating Expenses % Underlying Operating Expenses % 0.80 0.02 0.10 Management Company Pyramis Global Advisors, LLC www.desjardinslife insurance.com Web Site 20 Growth of $10,000 18 Fund 16 Underlying Fund 14 Benchmark 12 10 8 Volatility Analysis Investment Low Morningstar Risk Average Moderate High Category Investment Objective — — — — — — * * * ( 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 YTD Calendar Year 12.1 11.5 11.2 10.7 27.8 25.9 -1.3 -5.7 -29.2 -29.2 7.0 11.9 3.9 2.1 -9.7 -10.0 18.8 14.7 30.9 31.0 5.7 5.7 Fund Return % Benchmark % Annualized Returns % 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 10 Yr Fund Benchmark 8.0 7.7 19.8 19.7 17.2 16.4 11.8 10.6 9.1 8.1 5.6 4.8 Disclosure The above data represents past performance returns, which is not indicative of future results. These are gross performance returns, calculated after the fund's operating expenses, but before investment fees. For more information, please contact Desjardins Insurance's Customer Contact Centre at 1-800-968-3587. Portfolio Analysis as at 10-31-2014 Composition % Assets Investment Strategy Equity Style 4.3 0.0 0.0 0.4 94.5 0.8 Market Cap Mid Small Cash Fixed Income Canadian Equity US Equity International Equity Other Benchmark MSCI EAFE Net The investments are actively managed in order to provide long-term capital appreciation by investing in a diversified portfolio of international equities. The approach combines active stock selection with quantitative risk control. The firm's fundamental research focuses on two key factors: expected earnings and relative valuation. Quartile as at 11-30-2014 Large The Fund targets an annualized return of 2.0% higher than the MSCI EAFE Net Index, expressed in Canadian dollars, over four-year moving periods. — % Giant 60.3 Large Medium Small 32.4 7.1 0.3 Micro 0.0 Value Blend Growth Top Ten Holdings % Assets MSCI EAFE Index Future Dec14 29-12-2014 Roche Holding AG Dividend Right Cert. Nestle SA Total SA Royal Dutch Shell PLC Class A 2.4 2.2 1.9 1.8 1.6 Toyota Motor Corp Bayer AG Novartis AG Australia And New Zealand Banking Gr Anheuser-Busch Inbev SA 1.5 1.5 1.5 1.3 1.2 Total Number of Portfolio Holdings Total Number of Underlying Holdings Total Number of Stock Holdings Total Number of Bond Holdings 2 246 233 0 Top Five Countries Japan United Kingdom France Germany Switzerland Global Equity Sectors Utilities Energy Financials Materials Consumer Discretionary Consumer Staples Telecommunication Services Industrials Health Care Information Technology Unclassified ©2014. Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Morningstar is not responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. This fund is an investment product offered under an insurance contract issued by Desjardins Financial Security. Desjardins Insurance refers to Desjardins Financial Security Life Assurance Company. % Assets 20.2 19.2 9.4 9.2 9.0 % Equity 3.2 6.2 26.0 5.8 12.3 11.0 6.3 12.2 12.3 4.7 0.0 ?