2021 Guide to Listing

ENERGY SECTOR 22 TSX and TSXV are global leaders in the Energy Sector, comprised of Oil & Gas, Energy Services, and Utilities & Pipeline companies. KEY BENEFITS ❶ Access To Capital • From 2016 to 2020, $52.5 billion was raised by Energy companies listed on TSX and TSXV. • Some of the world’s largest asset managers and financial institutions, including Canadian institutional investors managing a cumulative $5 trillion dollars of assets, invest and trade in TSX and TSXV listed Energy companies. • 76 equity financings were completed by Energy companies in 2020. ❷ Experienced Exchange Staff Relevant Oil & Gas business experience, including in-house geologists. ❸ Liquidity & Trading • In 2020, 30 billion Energy company shares were traded for a total dollar value of $394 billion. • Approximately 40% of TSX’s daily trading originates from investors outside of Canada. A significant part of that daily flow of trading comes from U.S.-based investors. ❹ Tailored Listing Criteria Listing requirements are tailored to a company’s industry sector, stage of development, financial performance and operational resources. Our listing requirements better accommodate junior companies, including exploration stage Oil & Gas companies. ❺ Global Visibility • Listing on TSX and TSXV provides the opportunity to attract the attention of Energy sector research analysts. • An average of five analysts cover TSX and TSXV Oil & Gas and Energy Services companies and an average of 12 analysts cover Utilities & Pipeline companies. ❻ Growth Support TSXV-listed companies have the opportunity to graduate to TSX as they grow and mature. From 2000 to 2020, over 150 Energy companies have graduated from TSXV to TSX. TSX and TSXV Oil & Gas Issuers with Global Operations Number of companies with Oil & Gas assets located around the world Canada TSX: 48 Companies TSXV: 47 Companies U.S. TSX: 8 Companies TSXV: 19 Companies Latin America TSX: 6 Companies TSXV: 14 Companies Russia & CIS TSX: 4 Companies TSXV: 1 Company UK/Europe TSX: 6 Companies TSXV: 8 Companies Asia TSX: 3 Companies TSXV: 5 Companies Australia/NZ/PNG TSX: 2 Companies TSXV: 4 Companies Africa TSX: 5 Companies TSXV: 7 Companies Source: TSX/TSXV Market Intelligence Group. As at December 31, 2020.

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