Blossom Weekly Buzz - June 8, 2025

(1) In comparison to current yields of cashable GICs from the 6 largest Canadian banks and the 5 largest high interest savings account (HISAs) ETFs, as published by each on June 3, 2025.

(2) A bond that trades below its par or face value is referred to as a “discount bond”. As the bond gets closer to maturity, its price increases to eventually converge to par value. When a discount bond matures at par value the price appreciation is treated as a capital gain, which is taxed more favorably than interest income. Tax efficiency is dependent upon the proportion of discount bonds held by a GuardBonds fund, which cannot be predicted and is expected to fluctuate over time depending on prevailing market conditions as well as the impact and timing of subscriptions and redemptions.

(3) The high probability of the GuardBonds portfolio of short-term investment grade bonds maturing at par means investors are less likely to experience capital losses. Assumes investor holds their investment in the GuardBonds fund until its maturity date. The value of the GuardBonds fund will fluctuate from day to day, and may be impacted by subscriptions and redemptions, and an investor will be subject to market risks if they sell their units prior to the defined maturity date.

Disclaimer: (to appear at the bottom of the newsletter after all the content)

This communication is for informational purposes only and does not constitute investment, financial, legal, accounting, tax advice or a recommendation to buy, sell or hold a security and should not be considered an offer or solicitation to deal in any product mentioned herein. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. It is only intended for the audience to whom it has been distributed and may not be reproduced or redistributed without the consent of Guardian Capital LP. This information is not intended for distribution into any jurisdiction where such distribution is restricted by law or regulation.

Please read the prospectus, Fund Facts or ETF Facts before investing. Important information, including a summary of the risks, about each Guardian Capital mutual fund and exchange traded fund (“ETF”) is contained in its respective prospectus. Commissions, trailing commissions, management fees and expenses all may be associated with investments in mutual funds and ETFs. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on a stock exchange. If the units are purchased or sold on a stock exchange, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. Mutual fund and ETF securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated.

Assumptions, opinions and estimates are provided for illustrative purposes only and are subject to significant limitations. Reliance upon this information is at the sole discretion of the reader. This information is subject to change at any time, without notice, and without update. This document may also include forward looking statements concerning anticipated results, circumstances, and expectations regarding future events. Forward-looking statements require assumptions to be made and are, therefore, subject to inherent risks and uncertainties. There is significant risk that predictions and other forward-looking statements will not prove to be accurate. Investing involves risk. Bond markets and fixed-income securities are sensitive to interest rate movements. Inflation, liquidity, call, credit and default risks are all associated with fixed income securities. Bonds also entail issuer and counterparty credit risk, and the risk of default. Diversification may not protect against market risk and loss of principal may result. Certain information contained in this document has been obtained from external parties which we believe to be reliable, however we cannot guarantee its accuracy.

Guardian Capital LP is the Manager of the GuardBondsTM Funds. Guardian Capital LP is wholly-owned subsidiary of Guardian Capital Group Limited, which is a publicly traded firm listed on the Toronto Stock Exchange. For further information on Guardian Capital LP and its affiliates, please visit www.guardiancapital.com. All trademarks, registered and unregistered, are owned by Guardian Capital Group Limited and are used under license.