Amendment No. 1 dated November 12, 2018 to the Annual Information Form dated June 18, 2018

are to the version of the annual information form filed with the Canadian securities regulatory authorities on SEDAR on June 18, 2018. This Amendment No. 1 is being filed in connection with Amendment No. 1 dated November 12, 2018 to the simplified prospectus dated June 18, 2018, which amendment relates to: (i) the creation and qualification for distribution commencing on or about December 3, 2018 of Series P and Series PF units for each of NEI Select Income RS Portfolio, NEI Select Income & Growth RS Portfolio, NEI Select Income & Growth Portfolio, NEI Select Balanced RS Portfolio, NEI Select Balanced Portfolio, NEI Select Growth RS Portfolio, NEI Select Growth Portfolio and NEI Select Maximum Growth Portfolio (collectively, the “ Managed Portfolios ”); (ii) the closure of Series B units of NEI Select Income RS Portfolio, NEI Select Income & Growth Portfolio, NEI Select Balanced Portfolio, NEI Select Growth Portfolio and NEI Select Maximum Growth Portfolio to new purchases, other than purchases made pursuant to pre-authorized payment plans which existed on November 12, 2018, and reclassification of Series B units into Series P units or Series A units on or about December 18, 2018 or January 18, 2019, as applicable; (iii) a change of sub-advisor for NEI Canadian Small Cap Equity Fund; (iv) updates to the directors and executive officers of the Manager table in the AIF; and (v) updates to affiliated entities. CREATION OF SERIES P AND SERIES PF UNITS FOR THE MANAGED PORTFOLIOS Effective immediately, the following technical amendments are made to the AIF to create and qualify for distribution commencing on or about December 3, 2018 Series P and Series PF units of the Managed Portfolios: 1. The front cover of the AIF is amended by adding reference to Series P and Series PF units to the list of series being offered by the Managed Portfolios, in the appropriate order and format for the list of series. 2. The table beginning on page 1 of the AIF under the heading “The Funds” is amended by deleting the rows relating to the Managed Portfolios in their entirety and replacing them with the following: Series A Series B Series F Series I Series O Series P Series PF NEI Select Income RS Portfolio x x x x x x x NEI Select Income & Growth RS Portfolio x x x x x x NEI Select Income & Growth Portfolio x x x x x x x NEI Select Balanced RS Portfolio x x x x x x NEI Select Balanced Portfolio x x x x x x x NEI Select Growth RS Portfolio x x x x x x NEI Select Growth Portfolio x x x x x x x NEI Select Maximum Growth Portfolio x x x x x x x 3. The table beginning on page 2 of the AIF disclosing information about the name, formation and history of the Funds under the heading “ The Funds ” is amended by deleting the rows relating to the Managed Portfolios in their entirety and replacing them with the following: Fund and Date of Formation Major Events in Last 10 Years Name Change NEI Select Income RS Portfolio June 26, 2014 , amended Declaration of Trust to create Series F units of the Fund. As a result of a branding change for the family of NEI, Northwest & Ethical

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