NBI Quebec Growth Fund won a Lipper Fund Award

Montreal, November 15, 2019 – National Bank Investments Inc. (“NBI”) won an award at the Lipper Fund Awards ceremony held yesterday in Toronto.

These awards recognize investment funds that have maintained a strong risk-adjusted performance in their respective categories.

The NBI Quebec Growth Fund has emerged as a winner in the Canadian Small/Mid Cap Equity category. A Lipper Fund Award was awarded for this period:

Period	Fund	Category	Recognition
5 years	NBI Quebec Growth Fund	Canadian Small/Mid Cap Equity	Certificate

Please feel free to contact us if you have any questions.

NBI Funds (the “Funds”) are offered by National Bank Investments Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments (the “Funds”). Please read the prospectus of the Funds before investing.

The indicated rates of returns are based on the historical annual compounded total returns including changes in securities value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns.

The Fund’s securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Fund is not guaranteed, its values change frequently and past performance may not be repeated.

NBI Quebec Growth Fund (Investor Series) was awarded the 2019 Lipper Fund Award in the Canadian Small / Mid Cap Equity category for the five-year period (out of a total of 38 funds) ending July 31, 2019. Data is aggregated until the end of July of any given year and results are published in November of that year. Performance for the NBI Quebec Growth Fund (Investor Series) for the period ended October 31, 2019 is as follows: 9.40% (1 year), 5.16% (3 years), 9.29% (5 years), and 14.20% (10 years). The corresponding Lipper Leader ratings of the fund for the same period are as follows: 5 (3 years), 5 (5 years), and 1 (10 years).

The Lipper Fund Awards, granted annually, highlights funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification per award universe wins the Lipper Fund Award. For more information, see lipperfundawards.com. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.