Currency Exposure_____________________

0% 5% 10% 15% 20%

Financials

Health Care

Consumer Discretionary

Information Technology

Energy

Consumer Staples

Industrials

Utilities

Other / Alternative

REITs

Materials

Telecom

Cash

ST Fixed Income

Infrastructure

Rare Metals

Commodities

USD $ Exposure 9%

CAD $ Exposure 91%

Trailing Returns Through May 31st, 2015

1 Mo 3 Mo 6 Mo YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr Since Inception

1.34% 0.09% 4.94% 5.07% 12.60% 15.74% 15.08% 9.05% 9.72% 9.58% 10.16%

Global Risk Controlled Equity

The Morton Group Maximizing Return Through the Control of Risk

Investment Strategy________________________ We consider a 40% portion of the portfolio equally split between Canada and the USA “core”, which give us exposure to multiple factors that drive return ranging from

Market Capitalization Momentum

Value Low Volatility Dividend Growth

Each of these factors behave differently throughout changing market environments. By combining these factors together the goal is to achieve a higher rate of return with lower volatility, than any one factor on it’s own over a market cycle. The remaining 60% of the portfolio is allocated to tactical ETF positions based on a quantitative risk adjusted return screening process. We seek to own what is working in the world, and avoid what is not. In a prolonged declining equity market, we have the ability to reduce equity exposure and allocate to short term fixed income to protect capital.

Portfolio Facts________________________

Portfolio Manager – Tim Morton, CFA Portfolio Manager – James Morton, CIM Return Objective – Growth Portfolio Inception Date – May 2009 Base Currency – Dual Portfolio Yield – 1.30%

Investment Objective_______________________ Global Risk Controlled Equity seeks to provide growth of capital by investing in Canadian and U.S. listed equity ETFs. The strategy monitors portfolio risk on a daily basis; protection of capital may take precedent over growth of capital in response to changing market conditions.

Global Sector Allocation________________

Growth of $100,000 ____________________

Risk Statistics % (2 Year) __ ____________ Vs Benchmark: Canadian Focused Global Growth Equity Index (30% S&P/TSX+20% S&P 500+15% MSCI EAFE+15% MSCI Emerging Mkts+10% FTSE TMX Canada 91-Day T-Bill+10% FTSE TMX Canada)

Std Dev 6.20

Sharpe 2.40

Beta 0.86

Up-Market Capture 106%

Down-Market Capture 82%

*Performance results in this document are based on a composite of CIBC Wood Gundy Advisor Managed Account (“AMA”) retail accounts with more than $75,000 invested in the “Global Risk Controlled Equity”. The composite includes open fee-paying discretionary managed accounts where the Strategy has been held for at least two months, through a purchase or a switch from another investment or a different AMA strategy. Also included in the composite are closed accounts that held the Strategy, up to the last full month the Strategy was held. The composite was created in March 2009 and includes AMA performance data from May 2009, two months after the Strategy’s inception in the AMA program. Composite performance returns are geometrically linked and calculated by weighting each account’s monthly performance, including changes in securities’ values, and accrued income (i.e. dividends and interest), against its market value at the beginning of each month, as represented by the market value at the opening of the first business day of each month. This Strategy can be purchased either in U.S. or Canadian dollars. Performance returns in this document are expressed in Canadian dollars and are calculated by converting U.S. dollar accounts into Canadian dollars using the month-end Bank of Canada noon rate. Performance returns are gross of AMA investment management fees, and other expenses, if any. Each individual account’s performance returns will be reduced by these fees and expenses. Individual Advisor Managed Account performance results may materially differ from those in this document due to the above and other factors such as an account’s size, the length of time an AMA Strategy has been held, cash flows in and out of the individual account, trade execution timing, market conditions and movements, trading prices, foreign exchange rates, specific client constraints, and constraints against purchasing securities of related and connected issuers to CIBC Wood Gundy. Past performance may not be repeated and is not indicative of future results. This document is prepared for informational purposes only and is subject to change without notice.

This document is not to be construed as an offer to sell, or solicitation for, or an offer to buy any AMA strategy or other securities. Consideration of individual circumstances and current events is critical to sound investment planning. All investments carry a certain degree of risk. It is important to review objectives, risk tolerance, liquidity needs, tax consequences and any other considerations before choosing an AMA strategy. If you are currently a CIBC Wood Gundy client, please contact your Investment Advisor. CIBC Wood Gundy is a division of CIBC World Markets Inc., a subsidiary of CIBC and a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada.

The Morton Group

Tim Morton, CFA, First Vice-President, Investment Advisor, Portfolio Manager

James Morton, CIM, Investment Advisor, Portfolio Manager

150 Bloor St. W., Suite 501, Toronto, ON M5S 2X9

1 800 387-1865

tim.morton@cibc.ca • 416 369-8792

james.morton@cibc.ca • 416 369-8166

www.TheMortonGroup.ca

Global Risk Controlled Equity

The Morton Group Maximizing Return Through the Control of Risk