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Canoe Energy Class Wins Coveted Lipper Award For Best Energy Equity Fund Over Three and Five Years

CALGARY, November 10, 2016 – Canoe Financial LP (Canoe) is pleased to announce that Canoe Energy Class Series A, managed by Rafi G. Tahmazian and David Szybunka, was presented with the award for best Energy Equity Fund over three- and five-year periods at the Lipper Fund Awards gala on November 9, 2016. The annual Lipper awards recognize consistently strong risk-adjusted returns compared to industry peers.

“Since the inception of Canoe, our focus has been to deliver strong absolute returns in all of our investment strategies through our consistent, disciplined, active investment process,” said Darcy Hulston, president and chief executive officer of Canoe Financial. “We are honoured to be recognized by Lipper again this year for our outstanding fund performance.”

Canoe Energy Class (Series A), earned best fund performance over three and five years in the Energy Equity category. The Fund has a 5-star Overall Morningstar Rating™, and is also a top-quartile performer in the Energy Equity category over one, two, three and five years, and since its inception (February 18, 2011).*

*as at October 31, 2016.

About the Lipper Fund Awards

The Lipper Fund Awards program honors funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. Lipper Fund Awards are part of the broader Thomson Reuters Awards for Excellence program. Please visit excellence.thomsonreuters.com/award/lipper for more details about the Lipper Fund Awards. If you have specific questions about the event, please send an email to markets.awards@thomsonreuters.com.

About Canoe Financial LP

Founded in 2008, Canoe Financial LP is an employee-owned investment management firm focused on building financial wealth for Canadians.  Canoe is one of Canada’s fastest-growing independent mutual fund companies and manages approximately $4.0 billion in assets across a diversified range of award-winning mutual funds, flow-through limited partnerships and private energy equity products.  Canoe has expanded from its Calgary head office to across Canada, including a significant presence in Toronto and offices in Vancouver, Winnipeg, Ottawa and Montreal. To learn more about Canoe Financial and its investment products, visit www.canoefinancial.com.

Canoe Energy Class was awarded the best energy equity fund for the three-year period ending July 31, 2016 out of a total of 17 funds, and for the five-year period ending July 31, 2016 out of a total of 15 funds. The Lipper Fund Awards, granted annually, are part of the Thomson Reuters Awards for Excellence awarded by Lipper, Inc. and highlight funds that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Lipper Fund Awards are based on the Lipper Ratings for Consistent Return, which is a risk-adjusted performance measure calculated over 36, 60 and 120 month periods. The highest 20% of funds in each category are named Lipper Leaders for Consistent Return and receive a score of 5, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2 and the lowest 20% are scored 1. The highest Lipper Leader for Consistent Return in each category wins the Lipper Fund Award. Lipper Leader ratings change monthly. For more information, see www.lipperweb.com. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Performance for Canoe Energy Class Series A for the period ended October 31, 2016 is as follows: 21.2% (1 year), 2.5% (3 years), 7.9% (5 years), and 5.5% (since inception on February 18, 2011). The corresponding Lipper Leader ratings of the Fund for the same period are as follows: N/A (1 year), 5 (3 years), 5 (5 years).

© [2015] Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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Canoe Financial LP

Important information regarding the Funds, including conditions of purchase, investment strategy, distribution policy, management fees, and expenses, are set out in the Funds' Simplified Prospectus, Annual Information Form and Fund Facts which are available on Canoe Financial’s website at www.canoefinancial.com or SEDAR at www.sedar.com.  Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments.  Please read the prospectus before investing.  The indicated rates of return are the historical and annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security holder that would have reduced returns. The indices cited are widely accepted benchmarks for investment performance within their relevant regions, sectors or asset class, represent non-managed investment portfolios, and are not necessarily indicative of future investment returns. Mutual funds are not guaranteed and their values change frequently.  This communication is for information purposes only and is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities.  Investors should consult with a financial advisor prior to making any investment decisions.