Maple Leaf Funds - Group of Companies

FLOW-THROUGH

Jim Huang's Past Performance⁽¹⁾

Jim Huang has managed 13 National and 3 Quebec flow-through funds since 2004.

AVERAGE NAV

$21.41

AVERAGE AFTER-TAX RETURN

27.36%

(1) The above net asset value and after-tax returns are at time of rollover and represent the average of 13 prior National flow-through funds (excluding the Quebec flow-through funds) managed by Jim Huang, Portfolio Manager.

ENERGY INCOME

Delivering Monthly Cash Distributions while Managing Risk

As at March 2013

After-Tax Return⁽¹⁾

2011 FUND

102.7%

2012 FUND

83.6%

(1) After-tax return assumes tax savings of $45, total cash distributions to date and estimated NAVs. The 2011 Fund NAV has been calculated at PV8 using the December 31, 2011, independent reserves evaluation plus other net assets. The 2012 Fund NAV is shown at draw down (original issue price less issue expenses) until such time as an independent reserves evaluation report has been completed. An assumed marginal tax rate of 45% has been used. Tax savings do not take into account the tax payable on any capital gain arising on the eventual disposition of units.

MUTUAL FUNDS

How do we compare to the Indexes?

Maple Leaf Income Class
Maple Leaf Resource Class

Performance comparison as at February 28, 2013, Mutual Fund inception date.