Tax Savings Calculator Disclaimers

GrowthWorks Canadian Fund

GrowthWorks Atlantic Venture Fund

GrowthWorks Commercialization Fund

Commissions, trailing commissions, management fees and expenses all may be associated with investments in retail venture capital funds (RVCs). RVCs are not guaranteed, their values change frequently and past performance may not be repeated. Read the Fund’s prospectus before investing. Consult your investment advisor for more information on the suitable mix of investments for your investment portfolio. GrowthWorks Capital Ltd. is the Fund’s principal distributor. †The Fund has offered, and expects to continue to offer, a new Series of Commercialization Shares each calendar year, with each offering ceasing four to six months after March 1 of the applicable year. For more information on the Fund including income allocation rules, see the Fund’s prospectus. (1) Based on income tax rates for 2010 as at April 30, 2010 and assumes investor is within his or her 2010 RRSP contribution limit. RRSP tax savings are subject to certain conditions, are not unique to the Fund and amounts are taxable when withdrawn. No provision has been made for payment of taxes upon withdrawal. (2) Tax credits are subject to certain conditions, including repayment if shares are not held for eight years, federal and provincial maximum credits and having tax payable against which to claim the credits. The Ontario provincial tax credit available on purchases of the Fund is 15% for the 2010 tax year and 10% for the 2011 tax year. For amounts invested in RVCs each tax year, federal tax credits are available on the first $5,000 invested and provincial tax credits are available on the first $7,500 invested in Ontario and $5,000 in Saskatchewan. (3) The Fund’s board has adopted a dividend policy for each Series listed to pay cash dividends of approximately 25% of the purchase price over a three year period. The Fund expects to adopt similar policies on future Series. The precise timing of any dividend payments during that time period is not fixed. The timing of dividends shown is for illustration purposes only. Actual timing may vary. Year 1 period commences at the end of the 2011 selling season and ends the following March 31, 2012. Dividends are expected to be paid during the first calendar quarter. Dividends are not guaranteed. In keeping with the asset allocation rules, the 06 Series Shares and 07 Series Shares were converted into 05 Series Shares at their relative NAV per Series Share effective April 17, 2009 and February 26, 2010 respectively. (4) Figures in brackets are cash outflows and figures not in brackets are cash inflows or reductions in taxes otherwise payable. The information herein is entirely subject to the more detailed information contained in the prospectus. The chart is for illustrative purposes only.

Working Opportunity Fund - Venture Series

Commissions, trailing commissions, management fees and expenses all may be associated with investments in retail venture capital funds (RVCs). RVCs are not guaranteed, their values change frequently and past performance may not be repeated. Read the Fund’s prospectus before investing. Consult your investment advisor for more information on the suitable mix of investments for your investment portfolio. GrowthWorks Capital Ltd. is the Fund’s principal distributor. (1) Based on income tax rates for 2010 as at April 30, 2010 and assumes investor is within his or her 2010 RRSP contribution limit. RRSP tax savings are subject to certain conditions, are not unique to the Fund and amounts are taxable when withdrawn. No provision has been made for payment of taxes upon withdrawal. (2) Tax credits are subject to certain conditions, including repayment if shares are not held for five years (shares must generally be held for eight years), federal and provincial maximum credits and having tax payable against which to claim the credits. For BC residents, the maximum annual provincial tax credit is $2,000, reached on a $13,333 purchase. Federal tax credits are available on the first $5,000 invested in RVCs each year. (3) Figures in brackets are cash outflows and figures not in brackets are cash inflows or reductions in taxes otherwise payable. The information herein is entirely subject to the more detailed information contained in the prospectus. The chart is for illustrative purposes only. (4)This includes the annual, compounded rate of return of 4.56% related to investment of the tax credits over the typical 8 year hold period on shares (assumes that the tax credits were fully claimed and allowed at the same time as the purchase was made). In simple terms, a share is purchased for $1; the cost is reduced by 30 cents of tax credit, for net capital invested of 70 cents. At year 8 if Pricing NAV has not changed, the share can be redeemed for $1. Thus, 70 cents growing to $1 over 8 years provides a 4.56 % annual, compounded growth over that period. See note (2) above regarding tax credits. Returns for Growth Series 1 to April 30, 2010 were: 1 yr: 5.1%; 3yr: -5.4%; 5yr: -0.2%; 10yr; -4.4; since inception: -3.2%. For Growth Series 2: 1 yr: 4.4%; 3yr: -6.2%; 5yr: -0.9%; since inception: -2.0%. For Balanced Series 1: 1 yr: 1.3%; 3yr: -4.1%; 5yr: -2.2%; 10yr: -4.4%; since inception: 1.8%. For Balanced Series 2: 1 yr: 0.3%; 3yr: -5.3%; 5yr: -3.2%; since inception: -4.3%. For Income Series: 1 yr: 2.0%; 3yr: -5.2%; since inception: -3.1%. For Financial Series: 1 yr: 0.8%; 3yr: -6.1%; since inception: -2.7%. For Resources Series: 1 yr: -1.8%; 3yr: -5.3%; since inception: -3.1%. For Diversified Series: 1 yr: 1.2%; 3yr: -5.3%; since inception: -2.9%. For GIC Series: 1 yr: -4.0%; since inception: -2.8%.The indicated returns do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced gains.

Working Opportunity Fund - Commercialization Series

Commissions, trailing commissions, management fees and expenses all may be associated with investments in retail venture capital funds (RVCs). RVCs are not guaranteed, their values change frequently and past performance may not be repeated. Read the Fund’s prospectus before investing. Consult your investment advisor for more information on the suitable mix of investments for your investment portfolio. GrowthWorks Capital Ltd. is the Fund’s principal distributor. †The Fund has offered, and expects to continue to offer, a new Series of Commercialization Shares each calendar year, with each offering ceasing four to six months after March 1 of the applicable year. For more information on asset and income allocations, see the Fund’s prospectus. (1) Based on income tax rates for 2010 as at April 30, 2010 and assumes investor is within his or her 2010 RRSP contribution limit. RRSP tax savings are subject to certain conditions, are not unique to the Fund and amounts are taxable when withdrawn. No provision has been made for payment of taxes upon withdrawal. (2) Tax credits are subject to certain conditions, including repayment if shares are not held for five years (shares must generally be held for eight years), federal and provincial maximum credits and having tax payable against which to claim the credits. For BC residents, the maximum annual provincial tax credit is $2,000, reached on a $13,333 purchase. Federal tax credits are available on the first $5,000 invested in RVCs each year. (3) The Fund’s board has adopted a dividend policy for each Series listed to pay cash dividends of approximately 25% of the purchase price over a three year period. The Fund expects to adopt similar policies on future Series. The precise timing of any dividend payments during that time period is not fixed. The timing of dividends shown is for illustration purposes only. Actual timing may vary. Year 1 period commences at the end of the 2011 selling season and ends the following March 31, 2012. Dividends are expected to be paid during the first calendar quarter. Dividends are not guaranteed. (4) Figures in brackets are cash outflows and figures not in brackets are cash inflows or reductions in taxes otherwise payable. The information herein is entirely subject to the more detailed information contained in the prospectus. The chart is for illustrative purposes only. (5) This includes the annual, compounded rate of return of 4.56% related to investment of the tax credits over the typical 8 year hold period on shares (assumes that the tax credits were fully claimed and allowed at the same time as the purchase was made). In simple terms, a share is purchased for $1; the cost is reduced by 30 cents of tax credit, for net capital invested of 70 cents. At year 8 if Pricing NAV has not changed, the share can be redeemed for $1. Thus, 70 cents growing to $1 over 8 years provides a 4.56 % annual, compounded growth over that period. See Notes (2) and (3) above. Returns for the 05 Series to April 30, 2010, were: 1 yr: -0.2%; 3yr: 7.1%; 5yr: 5.0%; since inception: 4.8%. For the 08 Series: 1 yr: 11.3%; since inception: 3.0%. For the 09 Series: 1 yr: 2.8%; since inception: 1.7%.See † above regarding asset allocation rules among Series. The indicated returns do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced gains. Returns do not assume reinvestment of dividends because the applicable Series was not available for sale when dividends were paid.

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