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Mackenzie Investments and Canada Life Investment Management Ltd. Announce Special Meetings Results for Proposed Fund Reorganizations

March 23, 2021

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Toronto, March 23, 2021 – Mackenzie Financial Corporation (“Mackenzie Investments” or “Mackenzie”) and Canada Life Investment Management Ltd. (“CLIML”) announced that investors approved the proposed fund reorganizations outlined below (each, a “Reorganization”) at special meetings held earlier today.

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. As a result of the Funds being offered under multiple prospectuses, the Reorganizations were scheduled at a later date.

Mackenzie Funds Canada Life Fund Reorganization Date
Mackenzie US All Cap Growth Fund Canada Life US All Cap Growth Fund March 26, 2021
Mackenzie Ivy Foreign Equity Fund Canada Life Foreign Equity Fund April 16, 2021
Mackenzie Canadian Dividend Fund Canada Life Canadian Dividend Fund April 16, 2021
Mackenzie Canadian Growth Fund Canada Life Canadian Focused Growth Fund April 16, 2021
Mackenzie Ivy Global Balanced Fund Canada Life Global Balanced Fund April 16, 2021
Mackenzie Strategic Income Fund Canada Life Strategic Income Fund April 16, 2021
Mackenzie Floating Rate Income Fund Canada Life Floating Rate Income Fund April 16, 2021

The changes outlined above will have no impact on Mackenzie series investors.

For more information on the Reorganizations, please refer to the management information circular dated February 19, 2021, which is available on the Mackenzie and Canada Life websites and at www.sedar.comOpens a new website in a new window - Opens in a new window .

About Mackenzie Investments

Mackenzie Investments Opens a new website in a new window - Opens in a new window is a leading investment management firm with approximately $187 billion in assets under management as of February 28, 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.comOpens a new website in a new window - 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.

As of January 1, 2020, Great-West Life, London Life and Canada Life became one company – Canada Life, and today, we proudly serve more than 13 million customer relationships from coast to coast to coast.

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For further information, please contact:

Becky Caisie
Mackenzie Investments
6 4 7 9 6 9 3 4 3 1
becky.caissie@mackenzieinvestments.com

Liz Kulyk
Canada Life
2 0 4 3 9 1 8 5 1 5
Media.relations@canadalife.com

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