Mackenzie Investments Announces Proposed Changes to Its Mutual Fund and ETF Lineups

TORONTO, June 20, 2024 – As part of its ongoing efforts to streamline its product shelf for investors and advisors, Mackenzie Investments (“Mackenzie”) today announced a series of mutual fund and ETF mergers, subject to votes by unitholders. Additionally, Mackenzie announced an ETF termination and a management change to one mutual fund.

Mergers

Mackenze has proposed the following mergers:

Mutual Fund Mergers

Merging Fund	To be merged into (Continuing Fund)
Mackenzie Maximum Diversification All World Developed Index Fund	Mackenzie World Low Volatility Fund
Mackenzie Maximum Diversification Canada Index Fund	Mackenzie Canadian Equity Fund
Mackenzie Maximum Diversification US Index Fund	Mackenzie World Low Volatility Fund

ETF Mergers

Merging ETF	To be merged into (Continuing ETF)
Mackenzie Maximum Diversification All World Developed Ex North America Index ETF (ticker: MXU)	Mackenzie World Low Volatility ETF (ticker: MWLV)
Mackenzie Maximum Diversification All World Developed ETF (ticker: MWD)	Mackenzie World Low Volatility ETF (ticker: MWLV)
Mackenzie Maximum Diversification Emerging Markets Index ETF (ticker: MEE)	Mackenzie Emerging Markets Equity Index ETF (ticker: QEE)
Mackenzie Maximum Diversification Canada Index ETF (ticker: MKC)	Mackenzie Canada Low Volatility ETF (ticker: MCLV)
Mackenzie Maximum Diversification US Index ETF (ticker: MUS)	Mackenzie US Low Volatility ETF (ticker: MULV)

Investors of record on or about July 16, 2024 will receive a notice of meeting prior to a special meeting of investors to be held on or about September 6, 2024. If approved, the mergers of the Merging Funds and Merging ETFs are expected to be executed on or about September 27, 2024.

ETF Termination

In addition, Mackenzie announced the termination of the Mackenzie Maximum Diversification Developed Europe Index ETF (the “Terminating ETF”) effective on or about September 27, 2024 (the “ETF Termination Date”)

No action is required by unitholders. Unitholders in the Terminating ETF will be sent a notice of termination at least 60 days prior to the ETF Termination Date. Effective today, no further direct subscriptions for units of the Terminating ETF will be accepted by Mackenzie. The rights of unitholders to exchange or redeem units of the Terminating ETF will cease as of the ETF Termination Date.

The ETF will cease trading and be voluntarily delisted from the Toronto Stock Exchange at the request of Mackenzie following market close on or about September 26, 2024.

At market close on the ETF Termination Date, all units of the Terminating ETF will be cancelled, and Mackenzie will distribute to unitholders the net proceeds from the liquidation of the Terminating ETF's assets together with a final distribution of any income from the Terminating ETF, if required.

Mackenzie will issue a press release on or about September 30, 2024 that will confirm details of the termination of the Terminating ETF.

Portfolio Management Change

Further, Mackenzie also announced that it will make a change to the portfolio management of the Mackenzie Maximum Diversification Global Multi-Asset Fund by replacing current sub-advisor, TOBAM, with the Mackenzie Multi-Asset Strategies Team. There will be no change to the investment objective of the fund. The change will take place on or about July 30, 2024.

TOBAM Maximum Diversification All World Developed ex North America Index, TOBAM Maximum Diversification All World Developed Index, TOBAM Maximum Diversification Emerging Index, TOBAM Maximum Diversification Canada Index, TOBAM Maximum Diversification USA Index and TOBAM Maximum Diversification Developed Europe Index data copyright ©2024, TOBAM S.A.S. All rights reserved. “TOBAM” and “Maximum Diversification” are each a registered trademark and service mark of TOBAM S.A.S. or its affiliates (“TOBAM”) and are used under license for certain purposes by Mackenzie Financial Corporation. Reproduction of the TOBAM data and information in any form is prohibited except with the prior written permission of TOBAM S.A.S. Mackenzie Maximum Diversification All World Developed Index Fund, Mackenzie Maximum Diversification Canada Index Fund, Mackenzie Maximum Diversification US Index Fund, Mackenzie Maximum Diversification Global Multi-Asset Fund, Mackenzie Maximum Diversification All World Developed Ex North America Index ETF, Mackenzie Maximum Diversification All World Developed ETF, Mackenzie Maximum Diversification Emerging Markets Index ETF, Mackenzie Maximum Diversification Canada Index ETF, Mackenzie Maximum Diversification US Index ETF and Mackenzie Maximum Diversification Developed Europe Index ETF are not sponsored, endorsed, sold or promoted by TOBAM and TOBAM makes no representation regarding the advisability of investing in such funds/ETFs. TOBAM does not guarantee the accuracy or completeness of any data and information and is not responsible for any error or omission or for the results obtained from the use of such data and information. TOBAM GIVES NO EXPRESS OR IMPLIED WARRANTY, INCLUDING, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

About Mackenzie Investments

Mackenzie Investments is a leading investment management firm with $201.8 billion in assets under management as of May 31, 2024. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing. Mackenzie is a member of IGM Financial Inc. (TSX: IGM), one of Canada's premier financial services companies with approximately $251 billion in total assets under management and advisement as of May 31, 2024. For more information, visit mackenzieinvestments.com.