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International Adviser Exemption in Canada

Maj Invest has been granted registration as a Portfolio Manager under National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Pursuant to Multilateral Instrument 11-102 Passport System, the Ontario Securities Commission acts as Maj Invest’s principal regulator and its registration as a Portfolio Manager has also been approved in Alberta, Quebec and Saskatchewan pursuant to National Policy 11-204 - Process for Registration in Multiple Jurisdictions. Maj Invest’s NRD registration number is 59730.