Invested in performance.

Morningstar Star Ratings reflect performance of Series F as of March 31, 2025, and are subject to change monthly. The ratings are an objective, quantitative measure of a fund’s historical risk-adjusted performance relative to other funds in its category. Only funds with at least a three-year track record are considered. The overall star rating for a fund is a weighted combination calculated from a fund’s 3, 5, and 10-year returns, as available, measured against the 91-day treasury bill and peer group returns. A fund can only be rated if there are a sufficient number of funds in its peer group to allow comparison for at least three years. If a fund scores in the top 10% of its fund category, it gets 5 stars; if it falls in the next 22.5%, it receives 4 stars; a place in the middle 35% earns a fund 3 stars; those in the next 22.5% receive 2 stars; and the lowest 10% receive 1 star. For more details on the calculation of Morningstar Star Ratings, see www.morningstar.ca.

Mackenzie Precious Metals Fund Series F, Precious Metals Equity category: overall rating – 4 stars (58 funds), 3 years – 3 stars (58 funds), 5 years – 4 stars (56 funds), 10 years – 5 stars (43 funds).

Mackenzie Strategic Income Fund Series F, Canadian Neutral Balanced category: overall rating – 5 stars (367 funds), 3 years – 5 stars (367 funds), 5 years – 4 stars (336 funds), 10 years – 5 stars (262 funds).

Mackenzie Emerging Markets Fund Series F, Emerging Markets Equity category: overall rating – 5 stars (254 funds), 3 years – 5 stars (254 funds), 5 years – 5 stars (215 funds), 10 years – n/a stars (117 funds).

Mackenzie Global Resource Fund Series F, Natural Resources Equity category: overall rating – 5 stars (95 funds), 3 years – 5 stars (95 funds), 5 years – 5 stars (89 funds), 10 years – 4 stars (71 funds).

Mackenzie Global Dividend Fund Series F, Global Equity category: overall rating – 5 stars (1550 funds), 3 years – 5 stars (1550 funds), 5 years – 4 stars (1287 funds), 10 years – 5 stars (658 funds).

Mackenzie Enhanced Global Balanced Fund Series F, Global Neutral Balanced category: overall rating – 5 stars (1482 funds), 3 years – 5 stars (1482 funds), 5 years – n/a stars (1221 funds), 10 years – n/a stars (724 funds).

Mackenzie Growth Allocation ETF Series F, Global Equity Balanced category: overall rating – 5 stars (1103 funds), 3 years – 5 stars (1103 funds), 5 years – n/a stars (916 funds), 10 years – n/a stars (532 funds).

Mackenzie US Large Cap Equity Index ETF Series F, US Equity category: overall rating – 5 stars (1023 funds), 3 years – 4 stars (1023 funds), 5 years – 5 stars (902 funds), 10 years – n/a stars (556 funds).

Mackenzie Global Infrastructure Index ETF Series F, Global Infrastructure Equity category: overall rating – 5 stars (100 funds), 3 years – 5 stars (100 funds), 5 years – n/a stars (77 funds), 10 years – n/a stars (39 funds).

Mackenzie Developed Markets Real Estate Index ETF Series F, Real Estate Equity category: overall rating – 5 stars (106 funds), 3 years – 5 stars (106 funds), 5 years – n/a stars (95 funds), 10 years – n/a stars (68 funds).

Mackenzie International Equity Index ETF (CAD-Hedged) Series F, International Equity category: overall rating – 5 stars (597 funds), 3 years – 4 stars (597 funds), 5 years – 5 stars (545 funds), 10 years – n/a stars (299 funds).

FundGrade A+^® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+^® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+^® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+^® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+^® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.

Mackenzie Emerging Markets Fund Series A was recognized for outstanding fund performance at the 2024 Fundata FundGrade A+^® Awards in the Emerging Markets Equity category out of a total of 74 funds. Performance for the fund for the period ended December 31, 2024 is as follows: 17.6% (1 year), 4.6% (3 years), 6.8% (5 years) and 4.0% (since inception- June 2018).

Mackenzie Enhanced Global Balanced Fund Series A was recognized for outstanding fund performance at the 2024 Fundata FundGrade A+^® Awards in the Global Neutral Balanced category out of a total of 224 funds. Performance for the fund for the period ended December 31, 2024 is as follows: 16.9% (1 year), 4.0% (3 years) and 3.1% (since inception- November 2021).

Mackenzie Global Resource Fund II Series A was recognized for outstanding fund performance at the 2024 Fundata FundGrade A+^® Awards in the Natural Resources Equity category out of a total of 28 funds. Performance for the fund for the period ended December 31, 2024 is as follows: 9.8% (1 year), 9.8% (3 years), 14.5% (5 years), 8.0% (10 years) and 5.8% (since inception- May 2002).

Mackenzie Precious Metals Fund Series A was recognized for outstanding fund performance at the 2024 Fundata FundGrade A+^® Awards in the Precious Metals Equity category out of a total of 17 funds. Performance for the fund for the period ended December 31, 2024 is as follows: 28.6% (1 year), 6.4% (3 years), 10.4% (5 years), 13.2% (10 years) and 10.4% (since inception- October 2000).

Mackenzie Balanced Allocation ETF (MBAL) was recognized for outstanding fund performance at the 2024 Fundata FundGrade A+^® Awards in the Global Neutral Balanced category out of a total of 224 funds. Performance for the fund for the period ended December 31, 2024 is as follows: 16.7% (1 year), 5.4% (3 years) and 7.8% (since inception- September 2020).

Mackenzie Conservative Allocation ETF (MCON) was recognized for outstanding fund performance at the 2024 Fundata FundGrade A+^® Awards in the Global Fixed Income Balanced category out of a total of 126 funds. Performance for the fund for the period ended December 31, 2024 is as follows: 12.1% (1 year), 3.3% (3 years) and 4.8% (since inception- September 2020).

Mackenzie Global Infrastructure Index ETF (QINF) was recognized for outstanding fund performance at the 2024 Fundata FundGrade A+^®  Awards in the Global Infrastructure Equity category out of a total of 27 funds. Performance for the fund for the period ended December 31, 2024 is as follows: 27.8% (1 year), 10.6% (3 years) and 11.4% (since inception- September 2020).

Mackenzie Growth Allocation ETF (MGRW) was recognized for outstanding fund performance at the 2024 Fundata FundGrade A+^® Awards in the Global Equity Balanced category out of a total of 187 funds. Performance for the fund for the period ended December 31, 2024 is as follows: 21.3% (1 year), 7.6% (3 years) and 10.8% (since inception- September 2020).

Mackenzie International Equity Index ETF (CAD-Hedged) (QDXH) was recognized for outstanding fund performance at the 2024 Fundata FundGrade A+^® Awards in the International Equity category out of a total of 154 funds. Performance for the fund for the period ended December 31, 2024 is as follows: 12.3% (1 year), 7.9% (3 years), 8.2% (5 years) and 7.0% (since inception- January 2018).

Mackenzie US Large Cap Equity Index ETF (QUU) was recognized for outstanding fund performance at the 2024 Fundata FundGrade A+^® Awards in the U.S. Equity category out of a total of 237 funds. Performance for the fund for the period ended December 31, 2024 is as follows: 35.8% (1 year), 13.1% (3 years), 16.7% (5 years) and 15.2% (since inception- January 2018).