Canadian Equity Research Industry Update SPECULATIVE: Stocks bear significantly higher risk that typically cannot be valued by normal fundamental criteria. Investments in the stock may result in material loss. 12-Month Recommendation History (as of date same as the Global Stock Ratings table) A list of all the recommendations on any issuer under coverage that was disseminated during the preceding 12-month period may be obtained at the following website (provided as a hyperlink if this report is being read electronically) http://disclosures- mar.canaccordgenuity.com/EN/Pages/default.aspx Required Company-Specific Disclosures (as of date of this publication) Manulife Financial Corp.Canaccord Genuity or one or more of its affiliated companies intend to seek or expect to receive compensation for Investment Banking services from Absolute Software Corp., Air Canada, Agnico Eagle Mines Limited, Alamos Gold Inc., Aecon Group Inc., Badger Daylighting Ltd., Brookfield Asset Management Inc., Bell Canada Enterprises Inc., Bird Construction Inc., B2Gold Corp., Burcon NutraScience Corporation, Columbia Care Inc., Chorus Aviation Inc., Cresco Labs, Inc., Celestica Inc., Docebo Inc., Descartes Systems Group, Exchange Income Corporation, Ero Copper Corp., EXFO Inc., First Capital REIT, Finning International Inc., Gibson Energy, CGI Group Inc., Green Thumb Industries Inc., Jamieson Wellness, Inc., Kinaxis Inc., Lundin Mining Corporation, Manulife Financial Corp., Maple Leaf Foods Inc., Newmont Corporation, North American Construction Group Ltd., Pan American Silver Corp., Primo Water Corporation, Rogers Communications Inc., Real Matters Inc., Royal Bank of Canada, Secure Energy Services Inc., Shopify, SSR Mining Inc., Stantec Inc., TELUS Corporation, Toromont Industries Ltd., Seven Generations Energy Ltd., Wheaton Precious Metals Corp. and WSP Global Inc. in the next three months.Canaccord Genuity or one or more of its affiliated companies is a market maker or liquidity provider in the securities of Air Canada, Alamos Gold Inc., Brookfield Asset Management Inc., Bell Canada Enterprises Inc., B2Gold Corp., Celestica Inc., Descartes Systems Group, CGI Group Inc., Kinaxis Inc., Lundin Mining Corporation, Manulife Financial Corp., Newmont Corporation, Rogers Communications Inc., Royal Bank of Canada, Shopify, SSR Mining Inc., TELUS Corporation, Seven Generations Energy Ltd. and Wheaton Precious Metals Corp. or in any related derivatives. Manulife Financial Corp.Canaccord Genuity or one or more of its affiliated companies intend to seek or expect to receive compensation for Investment Banking services from Absolute Software Corp., Air Canada, Agnico Eagle Mines Limited, Alamos Gold Inc., Aecon Group Inc., Badger Daylighting Ltd., Brookfield Asset Management Inc., Bell Canada Enterprises Inc., Bird Construction Inc., B2Gold Corp., Burcon NutraScience Corporation, Columbia Care Inc., Chorus Aviation Inc., Cresco Labs, Inc., Celestica Inc., Docebo Inc., Descartes Systems Group, Exchange Income Corporation, Ero Copper Corp., EXFO Inc., First Capital REIT, Finning International Inc., Gibson Energy, CGI Group Inc., Green Thumb Industries Inc., Jamieson Wellness, Inc., Kinaxis Inc., Lundin Mining Corporation, Manulife Financial Corp., Maple Leaf Foods Inc., Newmont Corporation, North American Construction Group Ltd., Pan American Silver Corp., Primo Water Corporation, Rogers Communications Inc., Real Matters Inc., Royal Bank of Canada, Secure Energy Services Inc., Shopify, SSR Mining Inc., Stantec Inc., TELUS Corporation, Toromont Industries Ltd., Seven Generations Energy Ltd., Wheaton Precious Metals Corp. and WSP Global Inc. in the next three months.Canaccord Genuity or one or more of its affiliated companies is a market maker or liquidity provider in the securities of Air Canada, Alamos Gold Inc., Brookfield Asset Management Inc., Bell Canada Enterprises Inc., B2Gold Corp., Celestica Inc., Descartes Systems Group, CGI Group Inc., Kinaxis Inc., Lundin Mining Corporation, Manulife Financial Corp., Newmont Corporation, Rogers Communications Inc., Royal Bank of Canada, Shopify, SSR Mining Inc., TELUS Corporation, Seven Generations Energy Ltd. and Wheaton Precious Metals Corp. or in any related derivatives. General Disclaimers See “Required Company-Specific Disclosures” above for any of the following disclosures required as to companies referred to in this report: manager or co-manager roles; 1% or other ownership; compensation for certain services; types of client relationships; research analyst conflicts; managed/co-managed public offerings in prior periods; directorships; market making in equity securities and related derivatives. For reports identified above as compendium reports, the foregoing required company-specific disclosures can be found in a hyperlink located in the section labeled, “Compendium Reports.” “Canaccord Genuity” is the business name used by certain wholly owned subsidiaries of Canaccord Genuity Group Inc., including Canaccord Genuity LLC, Canaccord Genuity Limited, Canaccord Genuity Corp., and Canaccord Genuity (Australia) Limited, an affiliated company that is 80%-owned by Canaccord Genuity Group Inc. The authoring analysts who are responsible for the preparation of this research are employed by Canaccord Genuity Corp. a Canadian broker-dealer with principal offices located in Vancouver, Calgary, Toronto, Montreal, or Canaccord Genuity LLC, a US broker-dealer with principal offices located in New York, Boston, San Francisco and Houston, or Canaccord Genuity Limited., a UK broker-dealer with principal offices located in London (UK) and Dublin (Ireland), or Canaccord Genuity (Australia) Limited, an Australian broker-dealer with principal offices located in Sydney and Melbourne. The authoring analysts who are responsible for the preparation of this research have received (or will receive) compensation based upon (among other factors) the Investment Banking revenues and general profits of Canaccord Genuity. However, such authoring analysts have not received, and will not receive, compensation that is directly based upon or linked to one or more specific Investment Banking activities, or to recommendations contained in the research. Some regulators require that a firm must establish, implement and make available a policy for managing conflicts of interest arising as a result of publication or distribution of research. This research has been prepared in accordance with Canaccord Genuity’s policy on managing conflicts of interest, and information barriers or firewalls have been used where appropriate. Canaccord Genuity’s policy is available upon request. 22 July 2020 14