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Mackenzie Investments and Canada Life Investment Management Ltd. Announce Proposed Fund Reorganizations

November 12, 2021

TORONTO, November 12, 2021 - Mackenzie Financial Corporation ("Mackenzie Investments" or "Mackenzie") and Canada Life Investment Management Ltd. ("CLIML") today announced proposals to reorganize the funds outlined below (each, a "Reorganization") on a tax deferred basis, subject to regulatory approval and investor approval at special meetings to be held on January 11, 2022.

If approved, the Reorganizations will result in investors who hold Canada Life series units of the applicable Mackenzie mutual funds (the "Funds") to be transitioned to corresponding and substantially similar mutual funds managed by CLIML.

These Reorganizations follow a larger set of transactions which occurred on December 31, 2020 whereby Mackenzie transitioned its responsibilities as manager and trustee of the Canada Life Mutual Funds (formerly the Quadrus Group of Funds) and the Canada Life Pathways Funds to CLIML.

The proposed Reorganizations were not able to be initiated until the wind-up of Mackenzie’s mutual fund corporation, Mackenzie Financial Capital Corp., which occurred on July 30, 2021.

Mackenzie Fund Canada Life Fund Reorganization Date
Mackenzie Global Growth Fund Canada Life Global Growth Opportunities Fund January 28, 2022
Mackenzie US Small-Mid Cap Growth Fund Canada Life U.S. Small-Mid Cap Growth Fund January 28, 2022
Mackenzie Emerging Markets Fund II Canada Life Emerging Markets Equity Fund January 28, 2022
Mackenzie Ivy European Fund Canada Life European Equity Fund March 11, 2022
Mackenzie Precious Metals Fund Canada Life Precious Metals Fund March 11, 2022

The proposals outlined above will have no impact on Mackenzie series investors. Investors who hold the Canada Life series will receive additional information within an information circular to be made available in December, 2021 at www.mackenzieinvestments.com - Opens in a new window and www.canadalife.com - Opens in a new window and at www.sedar.com - Opens in a new window .

About Mackenzie Investments

Mackenzie Investments is a leading investment management firm with approximately $207.4 billion in assets under management as of October 31, 2021. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing. Mackenzie is a member of IGM Financial Inc. (TSX: IGM), one of Canada's premier financial services companies. For more information, visit mackenzieinvestments.com - Opens in a new window .

About Canada Life Investment Management Ltd.

CLIML is the fund management subsidiary of The Canada Life Assurance Company, a leading insurance, wealth management and benefits provider focused on improving the financial, physical and mental well-being of Canadians. For more than 170 years, individuals, families and business owners across Canada have trusted us to provide sound guidance and deliver on the promises we've made.

For further information, please contact:

Court Elliott
IGM Financial
6 4 7 9 3 8 3 5 4 8
court.elliott@igmfinancial.com

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