As at July 31, 2025

NBI Active U.S. Equity Fund

Advisor Series

Category: U.S. Equity

Investment Objective

To provide long-term capital growth. It invests, directly or indirectly through investments in securities of other mutual funds, in a portfolio comprised primarily of commun shares of U.S. companies.

Fund Details

Investment horizon

At least 5 years

Fund volatility

Medium

Style

Sector
Deviation

Market
Capitalization

Style: Growth
Sector Deviation: Moderate
Market Capitalization: Large

Minimum Initial Investment:

$500

Subsequent Investment:

$50

Systematic Investment:

$25

Distribution Frequency:

Quarterly

Assets Under Management ($M):

$0.9

Price per Unit:

$10.17

Inception Date:

February 3, 2025

Value of $10,000 since inception:

-

Benchmark Index:

S&P 500 (CAD)

Management Fee:

1.55%

Portfolio Manager:

National Bank Investments Inc.

Sub-Advisor:

Montrusco Bolton Investments Inc.

Available Fund Codes:

Advisor Series
Initial Sales Charge NBC5441
F Series NBC5741
FH Series NBC5041
H Series
Initial Sales Charge NBC5141

Portfolio Asset Mix

(% of Net Assets)

US Equity 94.52%
Canadian Equity 4.15%
Cash and Equivalents 1.33%
Sector Allocation %
Technology 46.15
Consumer Goods & Services 16.76
Financial Services 14.26
Healthcare 9.40
Industrial Goods & Services 6.65
Energy 2.82
Real Estate 2.07
Basic Materials 1.89
Dividend Yield (Trailing Yield) 0.76
Top Holdings %
Microsoft Corp 9.53
NVIDIA Corp 9.25
Amazon.com Inc 6.96
JPMorgan Chase & Co 5.34
Alphabet Inc Cl 5.12
Meta Platforms Inc Cl 4.89
Apple Inc 4.60
Waste Connections Inc 4.15
BlackRock Inc 4.14
Danaher Corp 3.63
Total of Top Holdings of the Fund
(% of Net Assets):
57.61
Total Number of Securities Held: 30

Calendar Returns (%)

Regulations restrict the presentation of performance figures until a fund reaches its one - year
anniversary.

Annualized Returns (%)

Regulations restrict the presentation of performance figures until a fund reaches its one - year
anniversary.

Disclosure

NBI Mutual Funds (the “Funds”) are offered by National Bank Investments Inc. an indirect wholly owned subsidiary of National Bank of Canada and sold by authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds. Please read the prospectus of the Funds before investing. The indicated rates of return are the historical annual compounded total returns which include changes in the value of securities and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. The Funds’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. For money market funds, there can be no assurances that a fund will be able to maintain its net asset value per security at a constant amount or that the full amount of the investment in a fund will be returned. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.