(VRIF) Vanguard Retirement Income ETF Portfolio

The performance of an index is not an exact representation of any particular investment as you cannot invest directly in an index. The performance of the index does not reflect the deduction of any expenses which would have reduced total returns. Performance information of the Vanguard ETF reflect waivers of certain expenses and/or fees. If the Vanguard ETF had incurred all expenses, investment returns would have been reduced. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. The performance of the index and Vanguard ETF is for illustrative purposes only.

The management expense ratio (MER) is the audited MER, including waivers and absorptions, and is expressed as an annualized percentage of the daily average net asset value. For the index ETFs, MERs are as of June 30, 2024, and for the factor ETFs, asset allocation ETFs and mutual funds MERs are as of March 31, 2024. The MER without any absorptions or waivers would have been 0.06% for VCE, 0.05% for VCN, 0.22% for VDY, 0.39% for VRE, 0.17% for VUN, 0.16% for VUS, 0.09% for VFV, 0.09% for VSP, 0.30% for VGG, 0.31% for VGH, 0.23% for VIU, 0.22% for VI, 0.22% for VDU, 0.22% for VEF, 0.31% for VIDY, 0.23% for VE, 0.22% for VA, 0.25% for VEE, 0.22% for VXC, 0.09% for VAB, 0.17% for VGV, 0.17% for VCB, 0.11% for VSB, 0.11% for VSC, 0.17% for VLB, 0.23% for VBU, 0.39% for VBG and 0.33% for VGAB, 0.25% for VCNS, 0.24% for VBAL, 0.24% for VGRO, 0.25% for VCIP, 0.24% for VEQT and 0.32% for VRIF, 0.41% for VVO, 0.38% for VVL and 0.39% for VMO, and 0.78% for VIC300, 0.74% for VIC400, 1.22% for VIC600, 0.84% for VIC500, 0.73% for VIC200 and 0.72% for VIC100. Vanguard Investments Canada Inc. expects to continue absorbing or waiving certain fees indefinitely but may, in its discretion, discontinue this practice at any time. For recently launched funds, MER information is not yet available.