Each Russell Sovereign Portfolio is Unique Because each Russell Sovereign Portfolio is customized to reflect individual investor needs and goals, there is an infinite number of portfolios. The samples that follow reflect possible allocations for Conservative, Moderate and Aggressive portfolios. The performance is based on the returns of the underlying pools (see below) and take into consideration periodic rebalancing. It is not representative of a unitholder's historical performance. Model Portfolios (Annualized to 04/30/2012, Net of all fees, Series A units*)     3 Months   YTD   1 Year   3 Years   5 Years   10 Years   Inception Conservative   0.80   2.42   7.83   1.26   2.67   3.70   5.99 Moderate   -1.37   0.23   7.89   -2.58   1.40   2.18   6.03 Aggressive   -2.81   -1.30   7.78   -5.72   0.23   0.79   5.95 Note: Your portfolio may differ from that of the sample portfolios. As a result, actual investor portfolio returns often vary. This difference is compounded by variables such as date of purchase and frequency of rebalancing to the original asset allocation. The sample portfolios are rebalanced on a quarterly basis. For a list of the historical allocations, please contact your investment professional. Portfolio Performance - Calendar Year (Calendar Years ending December 31, Net of all fees, Series A units*)     2011   2010   2009   2008   2007   2006   2005   2004   2003   2002   2001 Conservative   --   --   13.22   -11.64   0.88   8.1   8.58   6.71   9.63   -0.95   1.43 Moderate   --   --   17.52   -21.11   -0.06   11.9   11.3   7.74   12.18   -7.41   -2.3 Aggressive   --   --   20.25   -27.94   -0.98   14.88   13.33   8.41   13.93   -12.49   -5.55 Pool Performance Summary Annualized Returns (As of 04/30/2012, Net of fees, Series A units*) RUSSELL SOVEREIGN POOL   3 Months   YTD   1 Year   3 Years   5 Years   10 Years   Inception Money Market**   0.17   0.22   0.76   0.30   1.23   1.72   2.39 Fixed Income   -0.05   0.92   6.49   7.36   5.92   5.93   5.88 Core Plus Fixed Income   -0.45   0.30   6.06   --   --   --   5.48 Global High Income Bond Pool   3.22   --   --   --   --   --   5.61 Canadian Dividend   1.54   5.13   -12.16   --   --   --   1.90 Canadian Equity   -0.43   4.22   -12.85   9.37   -2.77   4.00   7.84 Smaller Companies   0.76   7.21   -11.26   --   --   --   0.26 US Equity   5.16   9.10   4.90   10.20   -3.15   -1.89   3.45 Overseas Equity   1.50   4.43   -9.84   4.54   -8.41   -1.59   2.72 Global Equity   4.52   8.20   -3.32   8.42   -5.51   -1.68   -1.61 Emerging Markets   -0.08   8.93   -12.26   8.88   -2.18   6.22   1.75 **Current Yield: %, Effective Yield: % Annual Returns (Calendar Years ending December 31, Net of all fees, Series A units*) RUSSELL SOVEREIGN POOL       2011   2010   2009   2008   2007   2006   2005   2004   2003   2002 Money Market       0.63   0.03   0.21   2.56   3.66   3.11   1.89   1.56   2.12   1.68 Fixed Income       5.92   6.90   10.00   3.78   2.86   3.09   5.35   5.72   6.91   8.81 Core Plus Fixed Income       6.48   5.98   9.70   0.43   --   --   --   --   --   -- Global High Income Bond       --   --   --   --   --   --   --   --   --   -- Canadian Dividend       13.40   --   --   --   --   --   --   --   --   -- Canadian Equity       -14.06   14.41   34.49   -38.37   6.91   16.36   22.25   12.07   19.86   -15.05 Smaller Companies       -15.61   --   --   --   --   --   --   --   --   -- US Equity       -0.23   8.08   11.80   -28.34   -10.06   10.83   2.42   0.48   7.09   -25.3 Overseas Equity       -9.69   1.92   10.35   -33.63   -6.81   23.68   8.2   7.5   8.31   -16.43 Global Equity       -7.54   6.99   11.00   -28.84   -10.31   16   5.37   3.91   8.81   -22.34 Emerging Mkts       -20.28   8.31   60.60   -47.19   12.75   27.14   27   18.74   29.68   -10.21 Unless otherwise noted, all the rates shown are for the period ending 04/30/2012. The rates shown are compounded yearly. They also include changes in unit value and all money that has been re-invested. Note: The statement of investment portfolio may change due to ongoing portfolio transactions of the Pool. This list will be updated within 60 days of each quarter end. Money Market Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the money market fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment will be returned to you. **The Current Yield is an annualized historical yield based on the seven-day period ended on 04/30/2012 and does not represent an actual one-year return. Effective Yield: % Effective Yield is an annualized historical yield based on the seven-day period ended on 04/30/2012 annualized by compounding the seven-day return and does not represent an actual one-year return. Last updated: 04/30/2012

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