National Bank Investments Announces a Risk Change to Meritage Global Conservative Portfolio

National Bank Investments Inc., manager of the Meritage Portfolios®, announced a change in the risk rating of the Meritage Global Conservative Portfolio. The change will be reflected in the Meritage Portfolios’® updated simplified prospectus, which will be filed with Canadian Securities Administrators on or about August 17, 2017.

The level of risk associated with the Meritage Global Conservative Portfolio has been lowered from “Low to Medium” to “Low”. This modification follows the introduction of a new methodology to classify risks by the Canadian Securities Administrators. No changes have been made to the investment objective, strategies or management of this portfolio.

About Meritage Portfolios®

Meritage Portfolios® (the “Portfolios”) are managed by National Bank Investments Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Portfolios. Please read the prospectus of the Portfolios before investing. The Portfolios’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Portfolios are not guaranteed, their values change frequently and past performance may not be repeated. “Meritage Portfolios^®” and the Meritage Portfolios^® logo are trade-marks of National Bank of Canada, used under license by National Bank Investments Inc.