"End of Banking" Disclaimers

"Most expensive" is Wealthsimple's assessment based on everyday banking fees at Canada's five largest banks versus comparable UK and Australian banks (“Competition in Canadian Retail Banking”, published by North Economics, March 2024), Canadian mutual fund fees across 26 markets (“Global Investor Experience”, Morningstar), and the profitability of Canada's largest banks relative to international peers (“Benchmarking Canadian Bank Capital Ratios to International Peers”, published by the Office of the Superintendent of Financial Institutions, February 2026; “Productivity’s competitive edge”, published by the Bank of Canada, October 2025). Comparison limited to markets covered by these sources. Current as of August 25, 2026.

“Canada’s Largest Financial Institutions” Claims:

¹ As of August 5, 2026, posted monthly account fees for Canada's 5 largest banks range from $3.95 to $4.00 for standard or entry-level personal chequing accounts. Actual fees may vary. Fee waivers may apply based on balance, activity, product holdings or client eligibility. Figures have been rounded to the nearest dollar.

² As of August 5, 2026, posted fees for Canada's 5 largest banks to make a withdrawal at an ATM outside their own network range from $2 in Canada to $5 outside Canada and the United States. Figures reflect fees charged by the bank and may not include surcharges charged by the ATM operator or any foreign currency conversion or administration fee. Actual fees may vary and fee waivers may apply.

³ As of August 5, 2026, posted fees for Canada's 5 largest banks to make a withdrawal at an ATM outside of Canada range from 2.5% to 3.5% of the transaction amount. Figures reflect fees charged by the bank and may not include surcharges charged by the ATM operator. Actual fees may vary and fee waivers may apply.

⁴ As of August 5, 2026, posted monthly account fees for Canada's 5 largest banks range from $5 to $10.95 for standard or entry-level business chequing accounts. Additional transaction and usage fees apply, and included transaction volumes vary by account. Actual fees may vary. Fee waivers may apply based on balance or client eligibility.

⁵ As of August 5, 2026, posted monthly account fees for Canada's 5 largest banks range from $65 to $125 for business chequing accounts that include unlimited transactions. Certain accounts described as offering unlimited transactions may apply caps to specific transaction types, including in-branch transactions, e-transfers and cash deposits. Actual fees may vary. Fee waivers may apply where a minimum balance is maintained, with such balance ranging from $65,000 to $75,000.

⁶ As of August 5, 2026, posted fees for Canada's 5 largest banks for a tax payment made from an entry-level business chequing account range from $0 to $2 per payment. Other accounts may include a specified number of tax payments at no additional charge. Actual fees may vary.

⁷ As of August 5, 2026, the posted monthly fee for overdraft protection at Canada's 5 largest banks is $5 for standard or entry-level personal chequing accounts. Figures reflect monthly overdraft protection plans only. Certain banks also offer per-use or per-day overdraft protection, which is priced separately. Overdraft interest is charged separately on any amount overdrawn. Actual fees may vary and fee waivers may apply.

⁸ As of August 5, 2026, posted annual interest rates on overdraft balances for Canada's 5 largest banks range from 21% to 22%. Annualized rate, calculated daily, charged monthly. Interest is charged in addition to any monthly or per-use overdraft protection fee. Actual rates may vary.

⁹ As of August 5, 2026, four of Canada's 5 largest banks require a minimum balance of $3,000 to $4,000 to waive the monthly account fee on standard or entry-level personal chequing accounts. The fifth does not impose a minimum balance requirement, but may waive the fee based on product holdings, direct deposits or bill payments. Actual fees and eligibility requirements may vary.

¹⁰ As of August 5, 2026, posted interest rates for Canada's 5 largest banks are 0% on standard or entry-level personal chequing accounts. Excludes private banking and investment management accounts, U.S. dollar accounts, accounts offered only to specific client groups and limited-time and promotional offers. Actual rates may vary.

¹¹ As of August 5, 2026, posted interest rates for Canada's 5 largest banks are 0% on standard or entry-level business chequing accounts. Actual rates may vary.

¹² As of August 5, 2026, average posted interest rates on personal savings accounts range from 0.04% to 0.28% across Canada's 5 largest banks, for an overall average of 0.15%. Annualized rate, calculated daily, paid monthly. Subject to change. For accounts with tiered rates, an unweighted average of the posted tiers was used. A single average was calculated for each bank, and those 5 averages were then averaged. Averages are not weighted by assets under administration or number of accounts. Excludes limited-time and promotional offers and rate boosts. Actual rates may vary.

¹³ As of August 5, 2026, posted foreign currency conversion fees on credit cards issued by Canada's 5 largest banks range from 2.5% to 3.5% of the converted transaction amount. The fee is applied in addition to the exchange rate used to convert the transaction. Actual fees may vary.

¹⁴ Figures are based on "Interac e-Transfer 101: Everything you need to know about sending and receiving money," published by Interac Corp. on August 2, 2023 and updated May 30, 2025. The article references typical consumer transaction limits of $2,000 to $3,000 per transaction. Transaction limits are set by each financial institution and may be higher for business accounts. Actual limits may vary. Interac e-Transfer® is a registered trade-mark of Interac Corp. Used under license.

¹⁵ As of August 5, 2026, posted fees for Canada's 5 largest banks to send a $10,000 wire transfer to an account at another financial institution outside Canada range from $30 to $115, for an average of $58. Certain banks calculate the sending fee as a percentage of the amount transferred or add a separate communication or correspondent bank fee, so fees for a wire of a different amount may differ. Fees to send to or receive from an account at the same institution may be lower or nil. Actual fees may vary.

¹⁶ As of August 5, 2026, posted fees for Canada's 5 largest banks to receive a wire transfer from another financial institution range from $15 to $17.50. Fees to send to or receive from an account at the same institution may be lower or nil. Actual fees may vary.

¹⁷ As of August 5, 2026, standard posted commissions for a single online equity trade at the self-directed brokerages of Canada's 5 largest banks range from $6.95 to $9.99 per trade for accounts priced on a per-trade commission basis. Discounted commissions of $3.95 to $7.00 per trade are available to clients who meet minimum trading activity requirements. Certain platforms offered by these banks provide a limited number of commission-free trades per year, commission-free trading on select ETFs, or reduced pricing on fractional share purchases, after which standard commissions apply. Actual fees may vary. All investments involve risk. Figures have been rounded to the nearest dollar.

¹⁸ As of August 5, 2026, standard posted pricing to trade a single equity option contract at the self-directed brokerages of Canada's 5 largest banks ranges from $8.20 to $11.24, consisting of a base commission of $6.95 to $9.99 per trade plus a contract fee of $1.25 per contract. Figures assume a single contract and increase with each additional contract traded. Discounted commissions may be available to clients who meet minimum trading activity requirements. Actual fees may vary. All investments involve risk.

¹⁹ As of August 5, 2026, four of Canada's 5 largest banks charge $25 per quarter on self-directed investment accounts where household assets fall below a threshold ranging from $10,000 to $15,000, for accounts priced on a per-trade commission basis. Certain platforms offered by these banks do not charge this fee, and the fee does not apply to all account types. Actual fees may vary. Fee waivers may apply based on balance, activity, product holdings or client eligibility. All investments involve risk.

²⁰ Figures are based on "The Top Canada Fund Families" report, published by Morningstar on October 22, 2025. The report ranks the 50 largest fund families in Canada by assets under management in Canada-domiciled open-end funds and exchange-traded funds, excluding funds of funds, feeder funds and money market funds, using data as of August 31, 2025. Rankings and assets under management vary over time. All investments involve risk.

²¹ Figures are based on "4 differences between ETFs and mutual funds" report, published by the Ontario Securities Commission on July 21, 2026. The report references an average management expense ratio of equity ETFs at approximately 0.54% and an average management expense ratio of Canadian equity mutual funds at approximately 2%, which is approximately 4 times the ETF management expense ratio. Mutual fund management expense ratios vary by fund, series and asset class. Actual fees may vary. All investments involve risk.

²² As of August 5, 2026, posted fees for Canada's 5 largest banks to transfer a registered account, including a TFSA or RRSP, to another financial institution range from $50 to $150, for an average of $120. Fees for partial transfers, non-registered accounts and other registered plan types may differ. Actual fees may vary.

Wealthsimple Claims:

² While Wealthsimple does not charge additional ATM fees, withdrawals may be subject to a fee charged by ATM providers. Wealthsimple will reimburse chequing clients an unlimited number of ATM fee reimbursements. Reimbursements will be made to the account linked to the prepaid Mastercard within 4 business days after the ATM transaction settles. Click here for details.

³ While Wealthsimple does not charge additional ATM fees, withdrawals may be subject to a fee charged by ATM providers. Wealthsimple will reimburse chequing clients an unlimited number of ATM fee reimbursements. Reimbursements will be made to the account linked to the prepaid Mastercard within 4 business days after the ATM transaction settles. Click here for details.

⁷ Overdraft protection utilizes a client's existing portfolio line of credit, which is a margin loan. Overdraft protection only offers coverage for specific transaction types. For more information please see here.

⁸ Overdraft protection utilizes a client's existing portfolio line of credit, which is a margin loan. Overdraft protection only offers coverage for specific transaction types. Wealthsimple's portfolio line of credit account margin rate is P-0.5% for Generation clients, P+0% for Premium clients, and P+0.5% for Core clients. Prime rate is 4.45% for CAD as of December 11, 2025. Subject to change. Annualized rate, calculated daily, charged monthly. All investments involve risks. See here for details.

¹⁰ 1.25% interest rate is available to Wealthsimple Core clients; 1.75% interest rate is available to Wealthsimple Premium clients; and 2.25% interest rate is available to Wealthsimple Generation clients. Annualized rate, calculated daily, paid monthly. Subject to change. For more information see wsim.co/rates.

¹¹ 1.25% interest rate is available to Wealthsimple Core clients; 1.75% interest rate is available to Wealthsimple Premium clients; and 2.25% interest rate is available to Wealthsimple Generation clients. Annualized rate, calculated daily, paid monthly. Subject to change. For more information see wsim.co/rates.

¹² The all-cash or Wealthsimple Rate of the Savings account is offered by Wealthsimple Investments Inc. (WSII) and is an annualized rate, calculated daily, paid monthly. Subject to change. Past performance is not indicative of future results. All investments involve risk. For more information see here for details.

¹³ Foreign transaction (FX) fee is a surcharge typically charged on foreign currency transactions. Wealthsimple does not charge FX fees, but transactions are still subject to currency conversion from credit card issuers, or fees from retailers or financial institutions involved in the transaction.

¹⁴ Individual's actual e-transfer limit will depend on various factors including, but not limited to, total assets with Wealthsimple, direct deposit amount, and previous transfer amounts. For more information, see wsim.co/etransferlimits. Interac e-Transfer® is a registered trade-mark of Interac Corp. Used under license.

¹⁵ For more information regarding wiring funds to your Wealthsimple accounts, visit here.

¹⁶ For more information regarding wiring funds to your Wealthsimple accounts, visit here.

¹⁷ Wealthsimple may charge a foreign exchange fee for converting between CAD and USD. See wsim.co/fee-schedule for details.

¹⁸ Wealthsimple may charge a foreign exchange fee for converting between CAD and USD. See wsim.co/fee-schedule for details.