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International Adviser Exemption in Canada

In order to provide investment advice in the Province of Ontario, Canada, Fondsmæglerselskabet Maj Invest A/S (Maj Invest Asset Management Fondsmaeglerselskab A/S) is relying on the international adviser exemption pursuant to section 8.26 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.

Pursuant to the terms of such exemption, Maj Invest has made, and will continue to make, all necessary and related filings with the Ontario Securities Commission.  The name and address of Maj Invest’s agent for service in the Province of Ontario is: FMD Service (Ontario) Inc., 333 Bay Street, Suite 2400, Bay Adelaide Centre, Box 20, Toronto, Ontario, M5H 2T6.