Bond Basket - March 2019 - Finance & Financial Services

1 Building your Financial futureBond BasketWhat is a Basket ?It is an investment model that is managed by a professionalportfolio manager on a discretionary basis in your brokerageaccount. You directly own its underlying securities and receivethe dividends and/or interest StrategyThe bond Basket is mainly composed of investment gradebonds. The portfolio manager will adjust his strategy accordingto the direction of interest rates, generally shortening durationwhen interest rates go up and increasing it when rates go portfolio manager will also look for the best corporatebonds and take advantage of spreads between government andcorporate bonds.

2 In addition, the manager will look forcompanies with credit ratings that can improve. Your InvestmentAdvisor may provide you with the complete investment Basket will be invested in investment grade bonds, with acredit rating of BBB or better. The duration of the portfolio willbe maintained within a spread of years, relative to theduration of the HorizonThe investment horizon is short to medium term, therefore 1 yearor characteristicsInception Date: January 29, 1998 Initial minimum investment : $58,663*Subsequent investments: $29,331*Portfolio Manager: Fiera Capital CorporationBenchmark.

3 FTSE TMX Canada Universe bond Index*Contingent on the market value of the Basket and accrued interests/dividends at the timeof Performance as at February 28, 2019 BasketBenchmark**1 years* years* years* years* inception* *Annualized.**FTSE TMX Canada Universe bond IndexReturns presented in Canadian dollars before management feesBasket Value: $29,331 Average Duration (Years): Mix by Maturity (%) Short Medium Long BasketWho is this investment for?This Basket is suitable for investors who: want to receive interest income regularly.

4 Are willing to tolerate a low level of risky is it?This investment is not guaranteed and its value can go down aswell as up. National Bank Financial rates this investment s riskas toModerateModerateModerate toHighHigh How much does it cost?The fees you pay depend on the type of agreement you signedwith your investment advisor. This agreement prevails over thefollowing table. Should you have no such signed agreement, thefollowing charges $1 or more informationThis summary may not contain all the information you to the Discretionary Management Agreement for moredetailed information.

5 Should you require further information,please contact your National Bank Financial investment can have access to this summarized fact sheet and theDisclosure Statement at word about taxIn general, you ll have to pay income tax on any gain andrevenue generated from your investment . How much you paydepends on the tax laws that are applicable in the area you livein and whether or not you hold the investment in a registeredplan, such as a Registered Retirement Savings Plan or a Tax-FreeSavings Account.

6 Keep in mind that if you hold your investmentin a non-registered account, fund distributions or capital gainsare included in your taxable income; whether they are paid,accrued or Content as at February 28, 2019 DescriptionQuantityDBRSS&PCouponMaturity PriceMarket valueWeightCurrent YieldAccruedinterestYield toMaturityDurationCanadian Imperial Bank 26,2021$ $1, $ of 1, 2033$ $1, $ Corporate Bond900A+A+ $ $9, $ of Alberta710 AAA+ 1,2048$ $ $ of Ontario3500 AALA+ 2, 2037$ $4, $ of Ontario3140 AALA+ 2, 2026$ $3, $ of 1,2038$ $1, $ of , 2023$ $3, $ Bank of 21,2022$ $1, $ Bank of 9,2019$ $ $ 24,2025$ $1, $ $29.

7 $ Baskets are offered in the context of the Discretionary Management Program offered by National Bank Financial Inc. and National Bank Financial Ltd.(collectively, NBF ), subsidiaries of National Bank of Canada. Please read the terms of the Discretionary Management Agreement to be entered into betweenyou and NBF before investing. An investment in a Basket is not guaranteed, its value changes frequently and past performance may not be document may not be copied or distributed, either in whole or in part, without the prior written consent of NBF.