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Investments snapshot Fixed income securities portfolio (Hedging positions excluded) Supra-National and Foreign, 2% Canadian provincial and municipal, 20% Preferred shares Fixed-rate perpetual. 28% Corporate, 43% Canadian federal government and agency, 35% Approx. 99% of fixed-income securities are rated 'A-' or better Our common share holdings consist of high- quality, dividend paying Canadian and U.S. companies. * As of June 30, 2015 Intact Financial Corporation Other perpetual 66% Retractable. 6% 86% of preferred shares are rated at least 'P2L' Geographic exposure of portfolio (Foreign currency exposure in the fixed-income portfolio is hedged using currency forwards) Other 2%. US 11% Canada 87% [ 20 ]

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