CALGARY, Alberta, June 30, 2022 (GLOBE NEWSWIRE) —

Canoe Financial LP (“Canoe Financial”)

is pleased to announce that it has obtained securityholder approval for the proposed fund merger (the “

Merger

”) described in the table below. The Merger is expected to be completed after the close of business on or about July 8, 2022.

More information about the Merger is set out in the Notice of Special Meeting and Management Information Circular, each dated May 30, 2022, which are available on SEDAR at www.sedar.com and Canoe Financial’s website at

www.canoefinancial.com

Additionally, the risk rating for Canoe Canadian Small Mid Cap Portfolio Class will be lowered to “Medium” from “Medium- high”, effective June 30, 2022.

This change is in accordance with the investment risk classification methodology set forth in National Instrument 81-102 – Investment Funds and will be reflected in the fund’s simplified prospectus and the applicable fund facts, which will be filed with Canadian securities regulators in connection with the fund’s 2022 annual renewal. There are no changes to the investment objective or strategy of the fund.

About Canoe Financial

Canoe Financial is one of Canada’s fastest growing independent mutual fund companies managing $12.0B in assets across a diversified range of award-winning investment solutions. Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe Financial has a significant presence across Canada, including offices in Calgary, Toronto and Montreal.

Further Information

Investor Relations

1–877–434–2796

www.canoefinancial.com

[email protected]

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.

Certain statements included in this news release constitute forward-looking statements, which reflect Canoe Financial’s current expectations regarding future results or events. Words such as “may,” “will,” “should,” “could,” “anticipate,” “believe,” “expect,” “intend,” “plan,” “potential,” “continue” and similar expressions have been used to identify these forward-looking statements. In addition, any statement regarding future performance, strategies, prospects, action or plans is also a forward-looking statement. Market predictions and forward-looking statements are subject to known and unknown risks and uncertainties and other factors that may cause actual results, performance, events, activity and achievements to differ materially from those expressed or implied by such statements. Forward looking statements involve significant risks and uncertainties and a number of factors could cause actual results to materially differ from expectations discussed in the forward-looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements are based on what Canoe Financial believes to be reasonable assumptions, we cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the current date and we assume no obligation to update or revise them to reflect new events or circumstances.