Exchange Bulletin

Shopify Inc. (SH) To Trade On Toronto Stock Exchange


May 27, 2015

The following trader note was released by Toronto Stock Exchange at 8:54 a.m. on May 27, 2015:

"SHOPIFY INC.
"IF, AS AND WHEN ISSUED" MARKET
PROSPECTUS OFFERING OF SUBORDINATE VOTING SHARES

Shopify Inc. – Further to Toronto Stock Exchange ("TSX") Bulletins 2015-0502 dated May 19, 2015 and 2015-0517 dated May 21, 2015, TSX has been advised that the Offering has closed. Effective at the opening of business on Wednesday, May 27, 2015, the Subordinate Voting Shares, which have been trading on an "if, as and when issued" basis under the symbol "SH", will now begin trading on a regular settlement basis under the same symbol "SH" and CUSIP number 82509L 10 7. There will be no further trading in the "if, as and when issued" market."