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Corporate Governance

Under National Policy 58-201, corporate governance guidelines and National Instrument 58-101 Disclosure of Corporate Governance Practices (“NI 58-101“), the Corporation is required to disclose information relating to its corporate governance practices. NI 58-101 has been adopted by l’Autorité des marchés financiers of the Province of Québec and the other securities regulatory authorities in the provinces and territories of Canada (the “Securities Authorities“). The Board endorses the efforts of the Securities Authorities in continuing the evolution of good corporate governance practices. The Board is committed to adhering to the highest standards in all aspects of its activities. The Board remains sensitive to corporate governance issues and continuously seeks to set up the necessary measures, control mechanisms and structures to ensure an effective discharge of its responsibilities without creating undue additional overhead costs and reducing the return on shareholders’ equity.