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Phil ClarkHead marketingPicton Mahoney Asset ManagementTel: (416) 955-4462www.pictonmahoney.com service@pictonmahoney.com To learn more about the Picton Mahoney family of Fortified Funds and get performance information until the end of the last month, please visit: www.pictonmahoney.com/Performance/Fortified-Funds.aspx. Thank you very much for your request. A sales agent will contact you with your personalized offer. The Picton Mahoney Fortified Multi-Asset Fund (Class F) received a 5-star Morningstar RatingTM as of October 31, 2020. The rating is based on the risk-adjusted monthly returns of 316 funds in the Tactical Balanced category as of October 31, 2020. The Picton Mahoney Fortified Income Fund (Class F) achieved a 5-star overall rating as of October 31, 2020. The rating is based on the risk-adjusted monthly returns of 416 funds in the „High Yield Fixed Income“ category as of October 31, 2020. 1 Based on the number of liquid alternative investment funds available in Canada in a single family of funds as of October 31, 2020 „We are very pleased that Michael has entered our business to deepen our turnover with his highly effective expertise at a critical time,“ said David Picton, President, CEO and Portfolio Manager at Picton Mahoney, in a statement. „Five years ago, we established a number of investment funds to provide investors and consultants with access to our unique alternative investment management capabilities in an investment fund structure,“ said David Picton, President, CEO and Portfolio Manager, Picton Mahoney.

„Our Mutual Fortified Funds use our proven approach to managing volatility, reducing downside risks and improving the quality of returns for investors. We are pleased to celebrate this milestone and remain focused on our stated mission to help investors achieve their financial goals with greater certainty. Let us know if we don`t have recognition in the workplace or industry – Add the source version of the prices to businesswire.com: www.businesswire.com/news/home/20201119005439/en/ Please carefully consider each fund`s investment objectives, risks, fees and expenses before investing. If you have not submitted your request, please check to see if you have entered your first name, email address and phone number. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA Commissions, Trailing Commissions, Management Taxes, Performance Fees and Expenses all may be associated with investment fund investments. Please read the prospectus before investing. Reported returns are historical aggregate annual returns, including changes in unit value and reinvestment of all distributions, and do not take into account sales, withdrawals, distributions or discretionary taxes or income taxes payable by a shareholder who would have reduced returns. Mutual funds are not guaranteed, their values often change and the results of the past must not be repeated. Hedge funds can only be purchased through a registered distributor and are only available in countries where they can be legally put up for sale.

Source: Morningstar Direct as of October 31, 2020. 2In terms of the amount at which the fund`s returns exceeded the average Tactical Balanced return for the periods posted. The Morningstar RatingTM, commonly known as „Star Rating,“ reports how a fund has evolved, based on risk, vis-à-vis its Morningstar colleagues and can change each month. Funds are ranked according to their Morningstar Risk-Adjusted return scores with the best 10% of funds in a 5-star category, the best 22.5% with 4 stars. A fund in the middle of 35% receives 3 stars, a fund in the next 22.5% receives 2 stars and a fund in the bottom 10% receives 1 star.