Privacy Notice

Your Privacy

We value the trust that you have placed in our organization and are committed to maintaining the accuracy, confidentiality, and security of personal information. This Privacy Notice outlines our privacy principles and practices.

In this notice, “PBY”, “we”, or “us” refers to PBY Capital Limited.  All services mentioned are services provided by PBY.  “You” refers to anyone who visits our website(s), our clients and related individuals, investors in our funds and the funds we distribute, and anyone who engages with our services. It’s our duty to inform you about what we’re doing with your personal information and why, and ensure you are properly informed so you can give us meaningful consent.  “Personal information” means information that: (i) directly or indirectly allows an individual to be identified; or (ii) is information about an identifiable individual. This does not include information that is used solely for the purpose of communicating or facilitating communication with an individual in relation to their employment, business, or profession.

Our Privacy Principles

We will not collect, use, store, or disclose your personal information without your informed consent, unless required or permitted to do so by law. Read through this Privacy Notice (“Privacy Notice”) so you understand how we collect, use, store, and share your data.

Agreeing to the Terms of Our Privacy Notice

By providing personal information to PBY, using our website(s) including www.pbycapital.com (collectively, the “Websites”), or engaging with our social media, you are consenting to our use, collection, and disclosure of your personal information in accordance with the terms of this Privacy Notice.  In addition, authorizing a third party (such as your advisor, dealer or other intermediary; or a corporation, partnership, trust or other form of entity for which you are an authorized individual or to which you are a related individual) to disclose your personal information to us, signifies your consent to PBY’s collection, use, and disclosure of personal information in accordance with the consent you provided to that third party.

You have the right to withdraw your consent from us collecting and using your personal information, but this may limit our ability to provide you with our services or products, if applicable. See below for further details.

What We Collect

The type of information that we collect includes but is not limited to:

• Contact information: this information allows us to identify you as well as send you materials. It lets us communicate with you for instructions, requests and notifications. It includes your name, mailing address, email address, and telephone number;
• Banking information: including your bank account information, billing address, or other banking and financial information required to complete your order;
• Date of birth: this information allows us to fulfill our legal obligation to establish your identity and also helps protect against error, identity theft, and fraud;
• Employment history: we collect this information to better understand your unique financial situation and investment needs, and to help us fulfill our suitability obligations;
• Social Insurance Number: we obtain your Social Insurance Number (SIN) for tax reporting purposes;
• Information required to comply with applicable laws and regulations: including your date of birth, home address, marital status, employment history, passport, driver’s license, SIN, Tax Identification Number (TIN), investment history, account numbers, if there is a spousal account or not, performance of investments, size of investments;
• Profile information: includes your username and password used for our online client portal, requests made by you, your interests, preferences, feedback, and survey responses;
• Transaction information: includes details about payments to and from you and other details of subscription and redemption requests, including product information and dollar values;
• Marketing and communications information: includes communication preferences and your preferences in receiving marketing or other communications from us and third parties;
• Computer or other device information: this includes information like device type, device identifier, IP address, MAC address, location, browser type, operating system, duration of use, user behaviour, length of time spent on the services, and frequency of use; and
• Other information you voluntarily provide: to us, our employees, our service providers or our contractors.

Information will be collected by fair and lawful means. We won’t take more information than we need, and you decide how and what you want to share.

How We Collect Your Information

Personal information may be collected in a number of ways, including: through our Websites, in person, by mail, by email, from the account opening documents or subscription or redemption requests you submit to us, from our applications or other software, from third parties (such as your advisor, dealer or other intermediary; or a corporation, partnership, trust or other form of entity for which you are an authorized individual or to which you are a related individual), and through industry electronic platforms such as Fundserv.

If you provide information about a third party or authorize a third party to do so, we will assume you have taken proper measures to obtain informed consent from such third party.

Cookies and Third-Party Tracking Technologies

We may collect information through “cookies” on our Websites. Cookies are small text files inside your computer that contain a unique identifier, allowing us to recognize you when you visit our Websites again. This helps us tailor our content to meet your needs and for advertising purposes. Depending on the specific features, cookies can be used to: (i) recognize you when you visit the Websites, remember your preferences, and give you a personalized experience that’s in line with your settings, (ii) make your interactions with the websites faster and more secure, and (iii) bring you advertising and customized experiences through personalization. Further, cookies are used for authentication, security, and research.

Our Websites use session-based cookies that do not collect personal information unless you explicitly provide it (for example, by submitting a form). In some cases, we may also use third-party technologies to help us measure website performance, assess the effectiveness of our content or advertising, and support limited remarketing activities. These technologies may use cookies or similar identifiers to track user interactions across our Websites and those of our partners.

When you first visit our Websites, you will be presented with a clear choice to accept or refuse the use of cookies and similar technologies. No non-essential cookies or tracking technologies will be activated without your consent.

Any data collected through these technologies is used solely for the purposes described above, retained for a limited period, and accessible only to authorized teams responsible for campaign operations. You may withdraw your consent at any time by adjusting your browser settings or using the cookie management tools provided on our site.

To find out more about cookies, including how to see what cookies have been set and how to manage and delete them, visit wikipedia.org, allaboutcookies.org, or aboutcookies.org.

Social media

If you post a review, make a comment, or otherwise submit personal information on a public forum such as social media accounts or public forums on our Websites or other applications, your communications may be viewable by the public.

Why We Collect Your Information

At PBY, we only collect, use, and store personal information for the purpose(s) it was collected.  The main purposes for which we collect, use, and store personal information include:

• Fulfillment of subscription/redemption requests and other services: to fulfill subscription/redemption requests and enable accessing services with us;
• To know who you are and fulfill our responsibility as your dealer, trustee and/or fund manager: to verify your identity, to enable us to service you as a unitholder in our funds and the funds we distribute and to maintain proper records of those funds’ unitholders;
• Business and website operations: to administer and protect our business and our Websites, including troubleshooting, data analysis, testing, system maintenance, support, reporting and hosting of data; and
• Regulatory requirements: complying generally with all laws and applicable regulatory requirements, including securities legislation and regulations, know your client obligations, AML regulations, FATCA and CRS reporting, client reporting, obligations to tax authorities, and confirmation of resident status.

We will obtain your consent before proceeding with any other purpose not identified in this Privacy Notice. You may also withdraw your consent at any time as per the section titled, “Your Consent and Opting-Out” below.

Who We Share Your Information With

At PBY, access to your personal information is restricted to those staff members who need the information to carry out their job duties.  All staff at PBY are subject to the duty of confidentiality.

PBY may share your information with third parties. PBY will do so to support with providing our services, administering our business, and for such other purposes as set forth below, including:

• The funds we distribute: for them to keep your information current as a unitholder of the fund, and for them to produce and send annual tax slips to you and tax summaries reports to the relevant tax authorities;
• Your financial advisor and/or their dealership: for example, sending duplicate T3s to your investment advisor who request a copy of your T3s or when they request information regarding your holdings in our funds; in most cases, your financial advisor and/or their dealership is the party that had provided us with your information in the first place;
• Other agents you designate to act on your behalf: to send information relating to your account to them in accordance with your instructions;
• Contractors, service providers and affiliates: sharing your information with companies we use for storage, processing, and delivery of services;
• Administrative and technical support: including cloud storage providers, IT infrastructure and support, and data analytics providers;
• Financial institutions and payment processors: we store your banking and financial information in order to make payments to you, such in connection with the fulfillment of redemption requests and making cash distributions. This is shared directly with the funds we distribute, our financial institution, and payment processors as applicable, all of which are separate legal entities;
• Securities, tax and other regulators and government authorities: including applicable governmental and regulatory entities required as part of our regulatory compliance such as submitting exempt trade reports to securities regulators or tax reporting to tax authorities.

We may also disclose personal information in situations where we are legally required or permitted to do so. These situations may include criminal investigations, government tax reporting requirements, court orders, or instances where we believe the rights and safety of others may be at risk. We may be ordered by a court to disclose personal information to a third party or to the court, or to preserve personal information pending the outcome of a legal hearing. We may also be legally required to disclose information in connection with the collection or repayment of a debt, to assist in the prevention of fraud or other criminal activity, when we obtain legal advice from a lawyer, or in an emergency that affects the health or safety of an individual.

In the instances described above we may be required to share your personal information with or without your consent. In limited circumstances, we may be legally prohibited from advising you that your information was shared in this way.

Your Consent and Opting Out

Obtaining your Consent

We obtain your consent before we collect, use, store, or disclose your personal information. Your consent will be obtained directly from you whenever we can do so reasonably.  If your information is obtained from another person (such as your advisor, dealer or other intermediary; or a corporation, partnership, trust or other form of entity for which you are an authorized individual or to which you are a related individual), we expect that person to be acting in compliance with the law and therefore that they have your consent to provide your information to us. We may have that person confirm they have your consent, and we may contact you if we have any concern in this regard. We will request your consent again if we wish to use, store, or disclose your personal information for a purpose to which you have not consented.

In some cases, the law permits us to collect, use, store, or disclose your personal information without your consent.  For example:

• Disclosing your personal information to our service providers for a purpose described in this Privacy Notice, to provide you with the requested product or service;
• Conduct statistical studies using de-identified personal information, where permitted by law;
• Take appropriate action if we detect potential fraud;
• In Quebec only: Using your personal information if it is clearly for your benefit or for purposes related to those to which you have already agreed;
• Outside of Quebec: Using or disclosing your personal information if it is clearly for your benefit and we are unable to obtain your consent.

We may also be required by law to disclose personal information. For example, if ordered by a court or requested by a regulatory authority or a self-regulatory organization.

Opting Out

You may withdraw your consent for our collection, use, storage and disclosure of your personal information at any time, including our use and collection for purposes of marketing, advertising, public media, business development and marketing research, or for any purpose, at any time. However, withdrawing your consent for our use and collection for a purpose that is essential to us providing our services or products to you will limit our ability to provide services or products to you.

To withdraw consent, please contact us at the contact information set out at the end of this Privacy Notice. Any withdrawal of consent will apply thereafter and not to information handling practice that have been previously undertaken based on prior consent.

You may opt-out of use of cookies through your browser settings. You can opt-out of targeted ads served via specific third-party vendors by visiting the Digital Advertising Alliance’s Opt-Out page or the Network Advertising Initiative’s Opt-Out page.

Protecting Your Personal Information

We and our third-party services providers understand the importance of keeping your information secure.

Employees and Service Providers

All our employees and service providers are expected to maintain the confidentiality of personal information.

PBY has policies and procedures that define the roles and responsibilities of employees and service providers throughout the life cycle of personal information and limits their access to such information on a “need-to-know” basis. Employees undergo regular privacy and information security training.

Storage

Your personal information is kept either in paper or electronic/digital format.  Places that we store personal information include:

• our offices, including physical corporate computers and cloud data providers;
• secure off-site physical and digital storage facilities;
• the storage locations used by our service providers.

We may store your personal information via third party entities that reside outside of Canada. Information may be transferred to, accessed and/or retained by these third parties. We have contracts in place requiring these companies to adhere to the same standards of confidentiality to which we are subject.

Safeguards

We maintain appropriate security safeguards to protect your information against unauthorized access, modification, theft, misuse, or loss while it is under our custody.  We use a combination of physical, electronic, technological, procedural, and organizational safeguards, having regards to the sensitivity of the information.

Despite all of the foregoing security measures, storage of information and digital communications are not entirely secure. We encourage all individuals to provide only the information they are comfortable with providing a third party, keep watch for communications that are suspicious, and report any suspicious activity to us as soon as possible.

Retention & Deletion

We have policies in place that govern the retention of your personal information so we keep it only for as long as reasonably necessary to fulfill its intended purpose or to satisfy legal and business requirements. The length of time we keep your information will depend upon the product or service and the nature of the information.

Accuracy of Your Personal Information

We make every reasonable effort to keep your personal information as accurate, complete and up-to-date as necessary. We encourage you to verify the accuracy and completeness of your personal information in our records.

Despite our efforts, errors sometimes occur. Should you identify any incorrect or out-of-date information in your file, we will remedy any such errors on a timely basis. In the event that inaccurate information is mistakenly sent to a third party, we will communicate relevant changes to the third party where appropriate.

If you discover inaccuracies in your personal information in our records, or your personal information changes, please notify your investment advisor or contact us directly so that we can make the necessary changes. Failure to notify us of changes to your personal information may negatively impact the way we communicate or provide services to you. Where appropriate, we will advise others of any changes to your personal information that we may have released to them.

Accessing, Correcting or Deleting Your Information

You have several rights regarding the personal information we have about you.  You may exercise them at any time.  You can make a request to our Privacy Officer at the contact information below for any of the following:

• Know whether we have your personal information: You may ask us if we have your personal information, how your personal information was collected, used, stored, and disclosed, and whether another entity holds your personal information.
• Access your personal information: You may ask to access the personal information we have about you. However, we are unable to provide you with the requested information in certain circumstances, such as if such information contains references to other persons, contains proprietary information confidential to us, has been destroyed, is too costly to retrieve, is subject to legal or some other form of privilege or cannot be disclosed for other legal reasons, or relates to an investigation.
• Correct your personal information: You may request that we correct or update your personal information if it is incomplete, inaccurate, or out of date.
• Delete your personal information: You may ask that we delete your personal information. Our response will depend on the situation. If the purposes for which the personal information was collected has been fulfilled and we confirm that the information is no longer required to be kept in our records, we will delete the information. The reasons for why we may retain information include meeting our legal and regulatory obligations and protecting our rights in the event of legal recourse.

If we have not yet fulfilled the purposes for which the personal information was collected, we will delete the information that is out of date, inaccurate, incomplete or no longer required. If you request that we delete the rest of your personal information, we will no longer be able to offer you our products and services.
If there is a charge in connection with meeting your request, we will let you know in advance.  We will respond to your request within 30 days.

Updating this Privacy Notice

PBY strives to evolve to meet our clients’ and investors’ needs and expectations, and that means our services, how we offer our products and how we communicate information may change. With that in mind, we review our privacy practices from time to time, and our information handling practices may change. If PBY makes a material change to our privacy practices, we will provide a revised version of this Notice on our Websites and set out the date on which changes were made.  You may determine when this Privacy Notice was last updated by referring to the date found at the bottom of this Notice. If at any point you do not agree with our privacy practices, you must not use the PBY platform, Websites, or services.

Website and Apps Governed by our Privacy Practices

Our Websites and any of our applications available from our Websites or third party platforms are governed by the provisions and practices as described in this Privacy Notice.  Our Websites and such applications may contain links to third party sites or applications that are not governed by the practices as described in this Privacy Notice. Although we endeavour to only link to sites or applications that share our commitment to your privacy, please be aware that our privacy practices will no longer apply once you leave our Websites or such applications, and that we are not responsible for the privacy practices of third party sites or applications. We therefore suggest that you closely examine the respective privacy policies of third party sites and applications to learn how they collect, use, and disclose your personal information.

Personal Information Outside of Canada and of Your Province of Residence

Personal information provided to our service providers may be stored outside of Ontario, your province of residence or outside of Canada. You acknowledge and agree that, as a result, your personal information may be processed, used, stored or accessed in other jurisdictions and may be subject to the laws of those jurisdictions. For example, information may be disclosed in response to valid demands or requests from government authorities, courts, or law enforcement in other countries.

Transfer Impact Assessments (TIAs) are conducted to ensure your personal information remains protected when transferred outside Québec or Canada. Following a TIA, the information may only be transferred if:

• Our assessment establishes that it would receive an adequate level of protection in the new province/country as afforded under applicable privacy laws; and
• We enter into a written agreement with the entity to which the information is disclosed to transferred to ensure accountability.

Privacy Impact Assessments

We conduct Privacy Impact Assessments (PIAs) for:

• Any new business project involving personal information; and
• Any acquisition, development or overhauling of any information system or electronic service delivery system involving the collection, use or destruction of personal information.

PIAs enable PBY to assess the privacy risks associated with these activities and ensure our compliance with relevant legislation and regulations.

Addressing Your Inquiries and Concerns

We are happy to provide you with a copy of our privacy policies and to discuss any of their content with you.

We have designated our Chief Compliance Officer as the Privacy Officer who is responsible for maintaining and implementing our privacy policies. Please direct all questions, complaints or enquiries relating this Notice or our privacy practices to:

Attention: Chief Compliance Officer
Email: manager@pbycapital.com
PBY Capital Limited
3080 Yonge Street, Suite 3032, Toronto, ON M4N 3N1
Telephone (toll free): 1-833-292-5849

Last revised: October 2025