OUR VISION OUR MISSION ABOUT EMPIRE LIFE. Canada s most convenient insurance and investment company. Insurance & Investments Simple. Fast. Easy.

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1 PUBLIC ACCOUNTABILITY STATEMENT 2016

2 OUR VISION Canada s most convenient insurance and investment company. OUR MISSION Insurance & Investments Simple. Fast. Easy. ABOUT EMPIRE LIFE The Empire Life Insurance Company (Empire Life) is a proud Canadian company that has been in business since We offer individual and group life and health insurance, investment and retirement products, including mutual funds through our wholly-owned subsidiary Empire Life Investments Inc. Empire Life is among the top 10 life insurance companies in Canada 1 and is rated A (Excellent) by A.M. Best Company 2. This statement contains information about Empire Life and Empire Life Investments Inc. All data is reported for the financial year ending December 31, OUR CORE VALUES We are honest and fair and we honour our commitments to our customers and to each other. We treat each other with respect. We hold ourselves and each other accountable. 2 EMPIRE LIFE PUBLIC ACCOUNTABILITY STATEMENT Based on general fund and segregated fund assets in Canada as at December 31, 2016 as reported in regulatory filings 2 As at May 27, 2016

3 COMMUNITY INVESTMENT PROGRAM In 2016, we continued our community investment in four key areas: community well-being, health and medical research, education, and arts and culture Community Investment TOTAL CONTRIBUTIONS: $361,402 IN-KIND $2,640 EMPLOYEE VOLUNTEERISM $45,492 COMMUNITY SPONSORSHIPS $71,543 CHARITABLE DONATIONS $241,727 Financial Contributions by Sector COMMUNITY WELL-BEING 57% HEALTH & MEDICAL RESEARCH 23% EDUCATION 11% ARTS & CULTURE 9% EMPIRE LIFE PUBLIC ACCOUNTABILITY STATEMENT

4 OUR COMMUNITY PARTNERS WRITE Thank you for your leadership gift towards Hospice Kingston s The Time is Now residential hospice campaign. Your compassion and commitment to the philosophy of hospice care is greatly appreciated. With your continued generosity, we are taking the important next step to build a residential hospice that will emphasize a human touch for all of us and the generations to follow. Thank you again for your compassionate support. Allen Prowse, Chair, Board of Directors, Hospice Kingston, and Peter Kingston, Chair, Capital Campaign, Hospice Kingston I m writing to express my gratitude for your generosity and long-time commitment to our program. Your belief in the power of youth and education is truly inspiring. On behalf of the students, staff and volunteers at Pathways to Education and Kingston Community Health Centres, thank you for helping the youth of Kingston achieve their full potential. Quinn Bingham, Vice-President and Chief Development Officer, Pathways to Education It is a pleasure and a privilege to thank you for your continued and generous support. You have made such a positive impact on our programs and in the Kingston community. Thank you! Ronda Candy, Executive Director, Martha s Table 4 EMPIRE LIFE PUBLIC ACCOUNTABILITY STATEMENT 2016

5 Thank you for being a part of Community Rocks and for celebrating International Day of Persons with Disabilities with us. Know that your support goes far beyond the value of the sponsorship. With the help of people like you, Community Living Toronto is able to reach out and provide support to many individuals in need. Credit: Louis Thomas Photography Brad Saunders, CEO, Community Living Toronto Through contributions like yours, our students are being provided with the opportunity to acquire knowledge, skills and attitudes for a lifetime of practice, learning and discovery. Your gift to the Empire Life Public Health Sciences Fellowship enables our students to pursue excellence. Dr. Richard K. Reznick, Dean, Faculty of Health Sciences, Queen s University Thank you for your generous contribution to our 2016 Season as the production sponsor for Assassinating Thomson. We feel truly honoured and privileged that you decided to invest in the local arts community. Know that your support has made the Playhouse reputation what it is. Brett Christopher, General Manager, Thousand Islands Playhouse EMPIRE LIFE PUBLIC ACCOUNTABILITY STATEMENT

6 INVESTING IN OUR COMMUNITIES For 94 years, Empire Life has been helping Canadians and their families achieve financial security. During that time, we ve also supported those in need in our community. From donations to agencies and foundations, to sponsorships of festivals and fundraisers, the funds we provide help enrich the lives of individuals in communities across Canada and help make our communities stronger. Here are just a few of the events and organizations we supported in 2016: EDUCATION ARTS & CULTURE Pathways to Education Canada opened its doors in Kingston in 2010, and Empire Life has been a key supporter ever since. In 2016, we made a $25,000 donation to the program which helps youth in lowincome communities graduate from high school. Seventy-four percent of Pathways to Education students have gone on to post-secondary education. Girls E-Mentorship, also known as GEM, is a charitable organization in Toronto that connects high-achieving diverse young women with successful professional women. This mentorship program helps female youth facing multiple barriers reach their full potential, develop skills for their future, and engage in influential and beneficial relationships. Our $10,000 donation will help female youth emerge as empowered young women and future leaders. Built in 1832, Fort Henry protected the naval dockyard at Point Frederick and Kingston, a major point along the supply route between Montreal and Ottawa. Designated a UNESCO World Heritage Site in 2007, it is now a museum and historic site offering tours, scenic views, musical performances and precision military demonstrations. Our sponsorship of the annual Tattoo performance is an opportunity for Kingstonians and visitors to journey back in time and experience the excitement of history in modern times. As the performance sponsor for Assassinating Thompson at the Thousand Islands Playhouse, we were delighted to be part of a unique play that intertwined art, politics, murder and laughter in a one-man investigation of Canadian icon and Group of Seven artist Tom Thomson. Visual artist and performer Bruce Horak regaled the audience with personal stories that paralleled the life of Tom Thomson. While he spoke, he painted a picture of the audience how he saw them through his limited 9% vision. 6 EMPIRE LIFE PUBLIC ACCOUNTABILITY STATEMENT 2016

7 COMMUNITY WELL-BEING HEALTH & MEDICAL RESEARCH When disaster struck in Fort McMurray, Alberta in May 2016, our employees responded immediately to help those affected by the tragedy. As fire swept through the small town, a company-wide fundraiser for the Canadian Red Cross Alberta Fires Appeal raised more than $3,300 in individual employee donations, along with a corporate donation of $10,000. Community Rocks is the bi-annual fundraiser for Community Living Toronto, an organization dedicated to giving people with intellectual disabilities the freedom to choose where they live, learn, work and play. We were proud to sponsor their 2016 rock n roll event which brought together business and community leaders in Toronto to raise funds and celebrate individuals with an intellectual disability. In 2016, we completed a 10-year, $1 million pledge to the University Hospitals Kingston Foundation Campaign, with much of the funds supporting the construction of the new Providence Care Hospital. Opening in the spring of 2017, tremendous care and thought has gone into creating an environment that inspires and instills hope, and enhances treatment, rehabilitation and recovery for patients of the new facility. With 270 private rooms, plenty of natural light, outdoor courtyards and rooftop terraces, the hospital is a warm and comfortable patient-centred approach to health and mental wellness. Hospice Kingston s The Time is Now campaign is dedicated to providing innovative opportunities for education and teaching, enhancing local and regional system approaches, and transforming how we care for the terminally ill. Our donation will give community members access to the full range of healthcare options, while understanding and respecting that living and dying well helps to create a healthy culture and a strong community. EMPIRE LIFE PUBLIC ACCOUNTABILITY STATEMENT

8 EMPLOYEES MAKING A DIFFERENCE We re proud that our employees share the same passion and commitment to helping in the community. Empire Life employees volunteered more than 1,000 hours in 2016, participating in dozens of events, including the United Way Day of Caring and Success by 6 Children s Corner, the Big Brothers Big Sisters Bowl for Kids, the Rose of Hope golf tournament in support of the Cancer Centre of Southeastern Ontario, and the Big Bike for Heart & Stroke Foundation. We re honoured to recognize two of our many employees who helped make a difference this year during their personal time and on behalf of the company. Michelle Reynolds, Service Representative For seven years, Michelle had no idea she had epilepsy. It was only after a major seizure that she was finally diagnosed. Michelle believes that long period of not knowing was in part due to a lack of public awareness and the stigma surrounding epilepsy. It was also the reason Michelle decided to share her struggles and story with others. Being able to act as an ambassador with Epilepsy South Eastern Ontario, and being supported by Empire Life through various stages including a successful brain surgery have given me so much positivity. I m grateful to have such an incredible work place and fantastic co-workers who are willing to hear me speak about my experiences, and who are excited to be part of the epilepsy Pull Together fundraiser. It has been heart-warming. Michelle and her team celebrate their successful firetruck pull at the Epilepsy South Eastern Ontario Pull Together for Epilepsy fundraiser. 8 EMPIRE LIFE PUBLIC ACCOUNTABILITY STATEMENT 2016

9 Geoff Gibson, Director, Investment Marketing and Product Development Geoff s passion for United Way was ignited in 2009 when he joined our Kingston United Way committee as a workplace campaign co-chair. It s no coincidence that it was also the year we crossed the $200,000 mark for money raised. For the next two years, he helped lead the campaign by inspiring his co-workers to participate and donate. Once his term as co-chair was over, he was approached by the President of United Way Kingston, Frontenac, Lennox and Addington (KFL&A) to build their NextGen committee, a group dedicated to getting the younger generation engaged in community volunteering. Geoff helped build the committee from the ground up, and was the NextGen Cabinet Chair until October The launch and first events were successful, and the committee has continued to attract younger people getting involved and giving back to the community. Geoff also represented Empire Life on the city-wide campaign cabinet for KFL&A. When Geoff took on a new opportunity in our Toronto office in 2012, United Way in Oakville got wind of his NextGen success and recruited him to launch the Oakville GenNext campaign. Geoff was a co-chair until February 2016 and remained on the campaign cabinet, as well as on Oakville s city-wide campaign cabinet, to provide support and advice. Asked why he has been such a staunch supporter of United Ways across Canada, Geoff says, United Way is the most efficient way to donate your time, energy and money. Giving back to the community through United Way is the easiest way to make a difference in the lives of those around you. Geoff received the 2015 Outstanding Campaign Cabinet Volunteer Award from Jennifer Loker, Director, Resource Development, United Way Oakville. EMPIRE LIFE PUBLIC ACCOUNTABILITY STATEMENT

10 Employees in Canada (2016) Province Number of Employees Full-Time Part-Time Alberta British Columbia Manitoba New Brunswick Ontario Quebec Saskatchewan Total Improving access to our services We are committed to respecting the dignity and independence of people with disabilities by preventing and removing barriers to accessibility. As part of our commitment: we have policies and procedures to ensure we meet the accessibility requirements under the Accessibility for Ontarians with Disabilities Act and we apply them across Canada; we ensure persons living with disabilities can access areas of our company that are open to the public. we have telephone services available to our customers using a relay service; our customer service employees are trained on how to communicate with and accommodate people with various types of disabilities; and, we have a feedback process to ensure we meet the accessibility expectations of our customers. We are making our websites accessible, applying Web Content Accessibility Guidelines (WCAG) 2.0 Level A requirements into new external websites and current external websites that undergo a significant refresh. All of our employees complete accessibility training so they can help identify, remove and prevent barriers to accessibility. For more information about how we are improving access to our services, read our Accessibility Policies. 10 EMPIRE LIFE PUBLIC ACCOUNTABILITY STATEMENT 2016

11 Taxes paid (2016, in thousands of dollars) Taxes by Jurisdiction Premium Taxes Income Taxes Other Taxes Total Taxes Newfoundland & Labrador $82 $74 $1 $158 Prince Edward Island $55 $74 $1 $131 Nova Scotia $238 $317 $8 $562 New Brunswick $86 $112 $3 $201 Quebec $8,005 $6,108 $1,328 $15,441 Ontario $7,141 $10,112 $3,711 $20,964 Manitoba $251 $317 $47 $614 Saskatchewan $466 $503 $5 $974 Alberta $1,661 $2,030 - $3,691 British Columbia $1,539 $2,123 $73 $3,735 Yukon $2 - - $2 Northwest Territories $2 - - $2 Nunavut $1 - - $1 Federal - $31,931 $5,393 $37,324 Total Taxes $19,529 $53,701 $10,570 $83,800 EMPIRE LIFE PUBLIC ACCOUNTABILITY STATEMENT

12 Contact us King St. East Kingston, ON K7L 3A8 For more information about our Community Investment program, visit our website or us @EmpireLifeInv Empire Life Empire Life Insurance Empire Life Empire Life Registered trademark of The Empire Life Insurance Company. Policies are issued by The Empire Life Insurance Company. Insurance & Investments Simple. Fast. Easy. info@empire.ca