A Capital OpportunityA Global Market for Companies

Disclaimer

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This document is for information purposes only. While the information herein is collected and compiled with care, neither TMX Group Limited nor any of its affiliated companies represents, warrants or guarantees the accuracy or the completeness of the information. You agree not to rely on the information contained herein for any trading, legal, accounting, tax, investment, business, financial or other purpose.

This information is provided with the express condition, to which by making use thereof you expressly consent, that no liability shall be incurred by TMX Group Limited and/or any of its affiliates as a result of any errors or omissions herein or any use or reliance upon this information.

© 2014 TSX Inc. All rights reserved. Do not sell or modify without the prior written consent of TSX Inc.

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Canada and TSX: Strong Fundamentals

Economically stable• Canada is the fifth largest equity

market by float capitalization in the MSCI World Index

• World’s soundest banking system

• Lowest debt-to-GDP among G7• Strong equity culture• ~$2.4 trillion in market cap• $270 billion in equity capital

raised in last 5 years

A dynamic marketplace• Robust marketplace• Access to capital• History of innovation• Committed to growth

Canadian Markets… Global Leaders

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1st 1stIn Listed Mining

Companies WorldwideIn Listed Oil and GasCompanies Worldwide

In Market CapitalizationIn Equity Financing

In Global Mining and Global Gold S&P/TSX Indices

In Exchange-Traded Funds (ETFs)Originator of the World’s First ETF

1stIn Listed Clean Technology

Companies Worldwide

1st 1st

2nd 7th 7th

In the World by Number of New Listings

In the World by Number of Listed Companies

2nd

Source: World Federation of Exchanges, December 2013, TSX and TSXV Market Intelligence Group4

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Global Exchange Leader in 2013

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TSX/TSXVLSE/AIM

NYSE/MKTEuronext

Nasdaq OMX

ASXHong Kong Exchanges

Number of Issuers Listed 3,673 2,736 3,433 3,392 2,055 1,643

Quoted Market Value(US$ Trillions) 2.1 4.4 21.5 7.4 1.4 3.1

New Listings International New Listings

26625

17032

32535

144N/A

8419

1104

Equity Capital Raised(US$ Billions) 42.0 47.5 202.8 77.5 49.0 48.3

Value Traded (US$ Trillions) 1.4 2.2 15.4 10.2 0.9 1.3

Source: Capital IQ and World Federation of Exchanges, December 2013

Access to Capital

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Toronto Stock Exchange and TSX Venture ExchangeTotal Financings (C$ Billions) 1999 – 2013

* TSX Venture Exchange commenced operations on November 29, 1999

19.223.1 20.9

25.829.1 28.4

46.241.8

47.6

35.3

60.0

44.141.0

50.6

39.9

2.4 1.1 1.4 2.4 4.1 6.1 7.9 11.15.5 5.0

9.8 10.16.0

3.8

19.2 25.5 22.0 27.331.5 32.5

52.249.7

58.8

40.8

64.9

54.0 51.156.5

43.6

1999* 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Average Financing Size:TSX: $67MTSXV: $2M

Toronto Stock ExchangeTSX Venture Exchange

Diverse Issuer Base

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Mining 1,618

Oil & Gas & Energy Services 449

ETPs296

Structured Products 214

Life Sciences110

Diversified Industrials

254

Financial Services122

CPC 115

Clean Technology 116

Real Estate 106

Technology169

Utilities &Pipelines 29

Comm & Media 52

Forest Products23

*As at December 31, 2013, Includes issuers on TSX and TSXV (100% = 3,673)

Number of Issuers by Sector

8

583graduates

+147 M&A*

Market Capitalization, December 31, 2013

Service at All Stages of Growth

* From January 1, 2000 – December 31, 2013

35%29%

36%

94%

5% 1%

<$50 Million $50 - $250 Million >$250 Million

% of TSX Issuers% of TSXV Issuers

535 Issuers

2,015 Issuers

442 Issuers 114

555 Issuers 12

Serving all Market Caps A Unique Market Structurewith a Strong Feeder

System

The World Lists on TSX and TSXV

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TSX and TSXV International Listings by Country/Region

Total International Listings as at December 31, 2013= 314

TSX = 164 Listings | QMV=$151 B

TSXV = 150 Listings | QMV= $2.8 B

The World Trades on TSX and TSXV

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~40%of daily trading originates from international brokers

7th in the world in value traded

TSX and TSXV by the Numbers

$66.5MAverage Financing on TSX266

Going public events

* As of or YTD December 31 2013

$43.6BEquity raised

3673Issuers

$2.4MAverage Financing on TSXV

1111

The Ideal Equity Marketplace

Total Corporate IPOs in Canada and U.S.*

Average IPO Size on TSX: $100 MAverage IPO Size in USA: $262 M

Top 10 Corporate IPOs on TSX in 2013

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*Source: Hoovers IPO Central

CompanyEquity Raised (C$)

1Choice Properties Real Estate Investment Trust

$460 M

2Pattern Energy Group Inc.

$418 M

3CT Real Estate Investment Trust

$264 M

4BRP Inc.

$262 M

5Oryx Petroleum Corporation Limited

$251 M

6Cardinal Energy Ltd.

$247 M

7Milestone Apartments Real Estate Investment Trust

$229 M

8TransAlta Renewables Inc.

$221 M

9Information Services Corporation

$169 M

10Agellan Commercial Real Estate Investment Trust

$135 M

Top 10 Corporate IPOs on Toronto Stock Exchange in 2013 as measured by Gross Proceeds (C$)

Support for Companies of all Sectors and Sizes

New Listings by Sector Equity Financings by Sector

$43.6BValue of Financings by Sector

TSX and TSXV 2013

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TSX and TSXV International New Listings by Region

TSX and TSXV International New Listings by Sector

314 Total International

Listings

252013 New

Listings

Support for International Companies of all Sectors and Sizes

71

55

40

4949

3631

25

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Multiple Pathways to Listing

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CPCCapital Pool Company

SPACSpecial Purpose

Acquisition Corp.

Capital Pool Company™ (CPC) Program has a Strong Track Record

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Anatomy of a Qualifying Transaction (QT)

Since inception– 2,401 CPCs were created– 84% have completed their

QT (2,015 companies)

Currently– 339 graduates now trade on

TSX– 92 of the grads were CPCs– 66 QTs in 2013

CPC Private Company

Qualifying TransactionCoinciding Private Placement

New TSX Venture Company

A new clean CPC shell has none of the hidden costs of a shell

with previous operating history

Specific Listing Criteria for Mining,

Oil & Gas and Industrial SectorsTechnical Listing Requirements

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