Canadian Fundamental Equity Strategy

The Strategy seeks to provide a total investment return in excess of the performance of its benchmark index (the "Index") over the long term.

BENCHMARK: S&P^®/TSX^® Capped Composite Index

This Strategy has no limitations on its investment universe, but will, under normal circumstances, primarily hold equities included in the S&P®/TSX® Capped Composite Index. The Strategy also may invest in ETFs, bonds, notes, debentures, cash and cash equivalents, commingled funds investing in cash and cash equivalents, short-term repurchase agreements with U.S. banks and broker-dealers, and short-term instruments or collective investment accounts.

The Strategy uses a fundamental research-driven investment process to build a high-conviction portfolio of equities that we believe offer sustainable growth prospects at a reasonable valuation. After screening the investment universe, our analysts perform detailed company due-diligence, including quantitative forecasts of financial metrics, and a rigorous assessment of quality scored on proprietary metrics. Portfolio construction is based on choosing the companies that we believe offer the best combination of quality, sustainable growth, and valuation, while managing portfolio risk. The investment approach is disciplined and takes a long-term perspective.

In general, SSGA Canada intends to manage the Portfolio in accordance with the following guidelines, although the Portfolio may exceed any of such guidelines at any point in time and for indeterminate periods of time should the Team believe such action to be in the best interest of the Portfolio:

• Number of Equity Issuer Holdings: 30 - 50
• Maximum position in equity securities of an issuer: 10% and ± 5% relative
• Sector* weight versus the Index: +/- 6%

Note:

S&P® is a registered trademark of Standard & Poor's Financial Services LLC and has been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by SSGA. TSX® is a trademark of TSX Inc. ("TSX") and has been licensed for use by S&P Dow Jones Indices LLC and SSGA. The S&P®/TSX® Capped Composite Index is a product of S&P Dow Jones Indices LLC, and has been licensed for use by SSGA. SSGA's investment products are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC or its affiliates or TSX and none of S&P Dow Jones Indices LLC, its affiliates or TSX makes any representation regarding the advisability of investing in such investment products and none of such parties makes any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P®/TSX® Capped Composite Index.

*Sector reporting based on the Global Industry Classification Standard ("GICS") which was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. ("S&P") and is licensed for use by State Street.

There are risks involved with investing, including possible loss of principal. You should refer to the Strategy's Disclosure Document (SDD) for a complete description of the risks of investing in the Strategy. Please contact SSGA's relationship management team for a copy of the SDD.