BOARD OF DIRECTORS

GREG MILLS | CHAIR OF THE BOARD | HEAD, GLOBAL EQUITIES, RBC CAPITAL MARKETS

Greg Mills is Head of RBC Capital Markets’ global activities in Equity Sales and Trading, and Equity-Linked Products. He is a member of the firm’s operating committee, both the U.S. and Canadian Commitment Committees, and is also a member of RBC’s Pension Investment Sub-Committee. Mr. Mills began his career as an equity trader with Burns Fry, and also spent time with First Boston and Scotia Capital. He joined RBC Capital Markets in 1998. He holds an Honours BSc (Geology) from the University of Windsor. Mr. Mills is Chair of the Investment Dealers Association’s Equity Markets Committee.

SCOTT PENMAN | VICE CHAIR | RETIRED, EXECUTIVE VICE PRESIDENT & CHIEF INVESTMENT OFFICER I.G. INVESTMENT MANAGEMENT LTD.

Scott Penman brings a wealth of knowledge and experience to Aequitas. Scott recently retired after 33 years with Investors Group. Prior to his retirement, Scott was Executive Vice-President, Chief Investment Officer where he led a global team of portfolio managers, analysts and traders responsible for all of Investors Group’s fund assets under management. Scott joined Investors Group in 1981 as an Investment Analyst and from 1983 on held Portfolio Management responsibilities for a number of Investors Group’s flagship Canadian equity and balanced funds. In 1995, Scott was named Senior Vice President, Equities and, in 1998, he was named President of I.G. Investment Management, Ltd. Born and raised in Winnipeg, Scott is a graduate of the University of Manitoba, where he received his Bachelor of Commerce (Honors) degree. In 1984, he received his Chartered Financial Analyst designation. He is a past president of the Winnipeg Society of Financial Analysts and a member of the CFA Institute. Scott is active in the community. In addition to being a member of the United Way Campaign Cabinet, he and his family are active supporters and volunteers of inner city youth programs.

DANIEL GARANT | VICE CHAIR | EXECUTIVE VICE PRESIDENT & CHIEF INVESTMENT OFFICER, PSP INVESTMENTS

Mr. Garant joined PSP Investments in September 2008. He worked at the Caisse de dépôt et placement du Québec from 1991 to 1997 as Manager, Private Equity Investments. He then moved on to Hydro-Quebec where he held several positions of increasing responsibilities in the area of business development and portfolio manager, and from 2005 to 2008, held the position of Executive Vice President and Chief Financial Officer, and President and Chief Executive Officer of Hydro-Quebec International.

VINCENT CHAHLEY | INDEPENDENT DIRECTOR

Vincent Chahley is an independent businessman and corporate director who brings 30 years of experience in the investment banking and oil and gas industries to Aequitas. Mr. Chahley began his investment banking career in Toronto in 1985 with Burns Fry working in equity capital markets and moved to Calgary in 1991. He joined RBC Dominion Securities in 1995 and later became co-head of their Oil and Gas Investment Banking Group before co-founding KERN Partners in 2000. He later moved to Tristone Capital to head up their Investment Banking Group and was later in his career a Managing Director at FirstEnergy Capital. He has been a Director of several oil and gas companies and is currently Chairman of Venturion Oil Limited and on the Boards of OSUM Oilsands Corp and Velvet Energy Ltd. Mr. Chahley has a Bachelor of Commerce degree from the University of Alberta.

ALAN HUTTON | INDEPENDENT DIRECTOR

Alan Hutton is a corporate director and advisor, with extensive executive and governance experience in the financial and IT sectors. He is currently Chair of the Investment Review Committee of NexGen Financial, member of the Investment Review Committee of ROI Capital, a Partner of The Transcend Strategy Group, an Advisor to Sapient Global Markets and President of Virtual Corporation. Previously, Mr. Hutton was President & CEO of several corporations including FundSERV Inc. and Star Data Systems.

JOHN ING | DIRECTOR | PRESIDENT & CEO, MAISON PLACEMENTS CANADA INC.

John Ing is the President and Chief Executive Officer of Maison Placements Canada, an independent, Toronto-based investment dealer providing a comprehensive array of financial services to institutional investors and small to midsize corporate clients. Throughout his career of 45 years, Mr. Ing has been an advocate of gold investment and authored numerous articles, appearing regularly in the media together with speeches around the world in support of his golden views. He was awarded the Robert Elvers Mineral Economics Award by the Canadian Institution of Mining, Metallurgy and Petroleum in 2014 in recognition of his tireless, tenacious and influential work on gold economies and its relationship to fiat money. Mr. Ing has also served on numerous industry committees and served on the Toronto Stock Exchange Stock List Committee as its Chairman for twelve years from 1993 to 2007.

PETER INTRALIGI | DIRECTOR | PRESIDENT AND CHIEF OPERATING OFFICER, INVESCO CANADA

Peter Intraligi is President and Chief Operating Officer at Invesco Canada, the Canadian subsidiary of Invesco Ltd. He also oversees North American Client Operations for Invesco. Mr. Intraligi began his business career at Thomas Cook and subsequently worked with Cap Gemini Ernst & Young, Loewen Group Inc. (now Alderwoods Group) and CIBC in the global private banking and trust business. He joined AIM in 1999 as Vice President, Corporate Research and Development. He spearheaded the growth strategy for AIM in Canada, resulting in the $2.2 billion acquisition of Trimark Investments in 2000.In 2000, Mr. Intraligi became Vice President of Marketing and was then appointed Senior Vice President, Marketing and Client Services. In 2002, he was appointed Senior Vice President, Corporate Operations. Peter assumed global responsibility for Invesco’s Client Operations in early 2006. In 2007, he was named Chief Operating Officer in Canada and then in 2008 he was appointed President of Invesco Canada.

DAVE LAUER | INDEPENDENT DIRECTOR | PRESIDENT & MANAGING PARTNER OF KOR GROUP

Dave Lauer is President & Managing Partner of KOR Group, a research and analysis consultancy specializing in market structure and technology. Mr. Lauer is also the co-founder and President of Healthy Markets, a non-profit coalition of financial firms that seeks to improve disclosure and transparency in the industry while advancing data-driven market structure reforms. His current work focuses on leveraging machine-learning and “big data” to help improve algorithmic order routing systems, to refine buyside execution decisions, and to generally facilitate continued enhancement of all market structure analysis. Working closely with a wide range of market participants—including institutional buyside, sellside, ATSs, exchanges, regulators and retail robo-advisors—Mr. Lauer channels his unique body of knowledge toward helping firms navigate increasingly complex modern markets. His previous work includes technology architecture at Verdande Finance and IEX Group, public advocacy at Better Markets, and electronic trading at Allston Trading and Citadel Investment Group. Mr. Lauer also helped develop technology for Tervela as an early employee during its formative stages. In his spare time, he collaborates on the maintenance and advancement of Cowbird.com, an innovative online photo-narrative storytelling network.

CURTIS MILLEN | DIRECTOR | SENIOR VICE-PRESIDENT, CORPORATE STRATEGY AND M&A, BCE INC.

Curtis Millen is Senior Vice-President Corporate Strategy and M&A at BCE Inc. In this role, Mr. Millen is responsible for key corporate strategic initiatives as well as acquisitions, divestitures, partnerships and investments. Prior to joining BCE in 2008, Mr. Millen worked in the investment banking divisions of both Citigroup Global Markets and Banc of America Securities where he focused on mergers & acquisitions and public/private market financings. He has also previously worked for the Yale Investments Office which manages Yale University’s endowment. Mr. Millen holds a B.A. Economics from Yale University and an MBA from the Yale School of Management.

BRENT ROBERTSON | DIRECTOR | TRADING, BETA PORTFOLIO MANAGEMENT, OMERS CAPITAL MARKETS

Brent Robertson is Director, Trading, Beta Portfolio Management at OMERS Capital Markets (OCM). In this role, he is jointly responsible for managing OCM’s beta program, which is focused on generating a return stream through collecting risk premiums across a multitude of asset classes. In addition, Brent also manages the equity trading desk, which includes the single-stock trading, program trading and derivatives trading for all internally-managed domestic and foreign equity strategies.Since joining OMERS in 1998 Brent has held progressively senior roles, with responsibilities including the establishment of a quantitative investment process, oversight of all internally-managed quantitative equity portfolios, and the consolidation of the equity trading desk. Prior to joining OMERS, Brent spent three years working for a Canadian custodian providing performance analytics.Brent received his HBA (Economics with Finance and Accounting) from Wilfrid Laurier University and his MBA (Financial Engineering) from York University. He is a Chartered Financial Analyst and a member of the CFA Institute and the Toronto CFA Society.

JOS SCHMITT | DIRECTOR | CHIEF EXECUTIVE OFFICER, AEQUITAS INNOVATIONS INC.

Jos has more than twenty-five years of experience in the financial services industry both internationally and in Canada, with particular expertise in the market infrastructure space, across asset classes and across geographies. Prior to joining Aequitas, Jos served as CEO of the Alpha Group of companies, including the Alpha Exchange; and as EVP Head of the Americas and Global Head of Capital Markets for a global professional services company focused on the financial services industry. During his tenure at this professional services company, he acted as strategic advisor and director of operational and/or technology programs for some of the largest market infrastructure organizations and broker-dealers around the globe. Some of his previous roles include: President and CEO of a European Derivatives Exchange and Clearing House, President and CEO of a pan-European Indices Publisher, Chairman of a Derivatives SRO, and Head of Strategy and Business Operations at a European Stock Exchange.

SUSAN WOLBURGH JENAH | INDEPENDENT DIRECTOR

Susan Wolburgh Jenah is an experienced board member who currently serves on the boards of: the U.S. Financial Industry Regulatory Authority (FINRA), the Laurentian Bank of Canada and the Global Risk Institute. She is a member of the C.D. Howe National Advisory Council, the TRSM Dean’s Advisory Council, Ryerson University and is a McMurtry Fellow and Adjunct Professor at Osgoode Hall Law School.Ms. Wolburgh Jenah has over three decades of experience in securities and capital markets regulation and policy development. She has held senior leadership roles throughout her career including, most recently, as founding President and CEO of IIROC (and predecessor IDA) from 2007 – 2014. Prior to this, she was Vice-Chair of the OSC from 2004-2007 and General Counsel from 1998-2004. She also served as the OSC’s Head of International Affairs from 2001-2007, representing the Commission at various international forums and on IOSCO’s standard setting Committees.Ms. Wolburgh Jenah received a B.A. from the University of Toronto, a J.D. from Osgoode Hall Law School and an ICD.D. designation from the Rotman School of Management. She is the 2011 recipient of the Osgoode Hall Alumni Gold Key Award for Achievement and is a frequent speaker at conferences in Canada and internationally.

THE HONOURABLE MICHAEL H. WILSON | DIRECTOR | CHAIRMAN, BARCLAYS CAPITAL CANADA INC.

Michael Wilson is the Chairman of Barclays Capital Canada Inc. and is currently responsible for managing Barclays Capital’s client relationships in Canada. Mr. Wilson was Ambassador of Canada to the United States of America from 2006 to 2009. Prior to that Mr. Wilson was Chairman of UBS Canada and in 2001, he served as a Vice Chairman of RBC Dominion Securities. Mr. Wilson served in the House of Commons from 1979 until 1993. In 1984, he was appointed Minister of Finance until 1991. He then became Minister of Industry, Science and Technology and Minister for International Trade.Mr. Wilson has been active in a number of professional and community organizations, including Brain Canada and Centre for Addiction and Mental Health. He is currently Chancellor of the University of Toronto and chairs the Governing Council of the Canadian Institutes of Health Research. Mr. Wilson is a Companion of the Order of Canada and has honorary degrees from the University of Toronto, York University, Trinity College at the University of Toronto and an Honorary Doctorate from the Royal Military College of Canada.