Growth of $10,000 Invested

Compound Returns as of March 31, 2021

	1 Year	3 Year	5 Year	Annualized since Inception¹
FUND	413.3%	1.9%	-3.0%	2.5%
INDEX²	101.0%	-9.8%	-4.6%	0.59%

Ninepoint Energy Fund All funds

¹ Inception date of Ninepoint Energy Fund (Series F) is April 14, 2004. All returns and fund details are a) based on Series F units; b) net of fees; c) annualized if period is greater than one year; d) as at March 31, 2021. The index is 100% S&P/TSX Capped Energy TRI and is computed by Ninepoint Partners LP based on publicly available index information.

² Where applicable, all figures are annualized and based on monthly returns since inception. Risk-free rate and minimum acceptable rate calculated using rolling 90-day CDN Tbill rate. The rate of return or mathematical table shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the mutual fund or returns on investment in the mutual fund.

The Fund is generally exposed to the following risks. See the prospectus of the Fund for a description of these risks: concentration risk; credit risk; currency risk; cybersecurity risk; derivatives risk; exchange traded funds risk; foreign investment risk; inflation risk; interest rate risk; liquidity risk; market risk; regulatory risk; securities lending, repurchase and reverse repurchase transactions risk; series risk; short selling risk; small capitalization natural resource company risk; specific issuer risk; tax risk.

Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The indicated rate of return for series F units of the Fund for the period ended March 31, 2021 is based on the historical annual compounded total return including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein does not constitute an o er or solicitation by anyone in the United States or in any other jurisdiction in which such an o er or solicitation is not authorized or to any person to whom it is unlawful to make such an o er or solicitation. Prospective investors who are not resident in Canada should contact their nancial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.