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2020 Salary Projection Survey Insights on compensation trends expected in 2020

37th edition | September 2019 Table of contents

1 Introduction 2 Participant profile 4 Survey highlights 5 Historical base salary increase trend 6 Base salary 8 Salary structure 10 Detailed results 14 Survey participants 20 Notice 20 For more information Introduction

The results presented in this report are an analysis of responses to Morneau Shepell’s 2020 Salary Projection Survey, collected from July to August 2019. A broad cross-section of industries representing 506 organizations across participated in this year’s survey.

• This report presents the results of our 37th edition of the Salary Projection Survey. It contains segmented data and a detailed analysis by Morneau Shepell’s compensation consultants. • The survey saw an increase in involvement from 356 organizations participating in 2018, to 506 in 2019. • Survey data includes actual 2019 and projected 2020 base salary and salary structure adjustments. • Findings are summarized for non-unionized employees, and all results exclude zeros. • Statistical requirements applied to the data analysis include a minimum of three organizations for mean/average results, and a minimum of five organizations for median/50th percentile results.

Definition of statistics Median/50th percentile Point where 50 per cent of the sample fall below and 50 per cent are above

Mean/average Sum of the average data reported by each organization, divided by the total number of these organizations

N/A Data is not available

Dash (—) Data is not included because it is insufficient for disclosure

1 Participant profile

Below is the breakdown of the 506 survey participants:

Revenue/annual operating budget ($ million) - Distribution

Up to 10 9.1 % 11 to 50 22.9%

N/A 6.5%

Greater than 1,000 19% 51 to 250 22.3%

501 to 1,000 8.7% 251 to 500 11.5%

Number of employees in Canada - Distribution

N/A 4.9 % Up to 50 8.5%

Greater than 2,000 17%

51 to 250 28.9%

1,001 to 2,000 11.1%

501 to 1,000 13.8% 251 to 500 15.8%

2 Industry Distribution Agriculture, forestry, fishing and hunting 1.8% Mining and oil and gas extraction 3.2% Utilities 4.2% Construction 3.0% Manufacturing 16.2% Wholesale trade 3.8% Retail trade 3.4% Transportation and warehousing 6.1% Information and cultural industries 0.4% Finance and Insurance 8.9% Real estate, rental and leasing 1.4% Professional, scientific and technical services 11.1% Management of companies and enterprises 0.2% Administrative and support, waste management and remediation services 0.6% Educational services 4.0% Health care and social assistance 6.5% Arts, entertainment and recreation 4.2% Accommodation and food services 2.4% Other services (except public administration) 12.8% Public administration 6.1%

3 Survey highlights

Overall 2019 / 2020 increases and adjustments The results below compares the average 2019 / 2020 actual and projected increases to base salaries and adjustments to salary structures excluding zeros, for non-unionized employees.

Actual 2019 salary increases and adjustments

2.6% 2.4% BASE SALARY SALARY STRUCTURE

Projected 2020 salary increases and adjustments

2.7% 2.2% BASE SALARY SALARY STRUCTURE

4 Historical base salary increase trend

5-year national average base salary increase

3.0%

2.8%

2.6%

2.4%

2.2%

2.0% 2015 2016 2017 2018 2019 2020

Actual Projected

5 Base salary Provincial data shows an overall actual average increase ranging from 2.4 per cent to 2.7 per cent for 2019 and a projected average base salary increase ranging from 2.5 per cent to 3.1 per cent for 2020.

Table 1 – Base salary increases (excluding freezes) by province

Actual increase in 2019 Projected increase for 2020 Province Median Average Median Average 2.5% 2.4% 2.5% 2.5% 2.5% 2.7% 2.6% 2.8% 2.5% 2.6% 2.5% 2.7% 2.5% 2.6% 2.6% 2.8% 2.5% 2.5% 2.5% 2.9% 2.5% 2.6% 2.5% 2.7% 2.5% 2.6% 2.6% 2.7% Newfoundland and Labrador 2.5% 2.6% 2.5% 3.1% 2.5% 2.5% 2.7% 2.7% 2.5% 2.6% 2.5% 2.9% 2.5% 2.5% 2.5% 2.7% Canadian average 2.5% 2.6% 2.5% 2.7%

Salary budget adjustments include increases in salary structure, length of service, cost of living and merit pay. This does not include promotional increases. The data excludes zeros and represents non-unionized employees.

6 Industry data shows an overall actual average increase ranging from 2.2 per cent to 3.6 per cent for 2019 and a projected average base salary increase ranging from 2.0 per cent to 3.3 per cent for 2020.

Table 2 – Base salary increases (excluding freezes) by industry

Actual increase in 2019 Projected increase for 2020 Industry Median Average Median Average Agriculture, forestry, fishing and hunting 2.4% 2.2% 2.0% 2.2% Mining and oil and gas extraction 2.9% 2.9% 2.5% 2.6% Utilities 2.5% 2.5% 2.5% 2.6% Construction 2.8% 3.1% 3.0% 3.1% Manufacturing 2.5% 2.5% 2.5% 2.5% Wholesale trade 2.6% 2.6% 2.5% 2.5% Retail trade 2.5% 2.6% 2.5% 3.0% Transportation and warehousing 2.5% 2.5% 2.7% 2.6% Information and cultural industries − − − − Finance and insurance 2.5% 2.6% 2.8% 2.6% Real estate, rental and leasing 2.9% 2.8% 2.8% 2.8% Professional, scientific and technical services 2.9% 3.1% 3.0% 3.3% Management of companies and enterprises − − − − Administrative and support, waste − 2.3% − − management and remediation services Educational services 2.0% 2.2% 2.0% 2.0% Health care and social assistance 2.0% 2.5% 2.5% 2.7% Arts, entertainment and recreation 2.0% 2.2% 2.2% 2.4% Accommodation and food services 3.0% 3.6% 3.0% 3.0% Other services (except public administration) 2.5% 2.7% 2.5% 2.6% Public administration 2.5% 2.9% 2.7% 3.0% Canadian average 2.5% 2.6% 2.5% 2.7%

Salary budget adjustments include increases in salary structure, length of service, cost of living and merit pay. This does not include promotional increases. The data excludes zeros and represents non-unionized employees.

7 Salary structure Provincial data shows an overall actual average adjustment ranging from 2.2 per cent to 2.7 per cent for 2019 and a projected average salary structure adjustment ranging from 2.1 per cent to 2.5 per cent for 2020.

Table 3 – Salary structure adjustment (excluding freezes) by province

Actual adjustment Projected adjustment Industry in 2019 for 2020 Median Average Median Average Northern Canada 2.0% 2.2% 2.1% 2.2% British Columbia 2.0% 2.5% 2.0% 2.3% Alberta 2.0% 2.4% 2.0% 2.2% Saskatchewan 2.0% 2.3% 2.0% 2.2% Manitoba 2.0% 2.4% 2.0% 2.4% Ontario 2.0% 2.5% 2.0% 2.2% Quebec 2.0% 2.3% 2.0% 2.2% Newfoundland and Labrador 2.0% 2.6% 2.0% 2.2% New Brunswick 2.0% 2.7% 2.0% 2.5% Nova Scotia 2.0% 2.4% 2.0% 2.2% Prince Edward Island 2.0% 2.7% 2.0% 2.1% Canadian average 2.0% 2.4% 2.0% 2.2%

Salary structure adjustments reflect changes to salary range midpoints or salary scales’ maximums. The data excludes zeros and represents non-unionized employees.

8 Industry data shows an overall actual average adjustment ranging from 1.8 per cent to 3.2 per cent for 2019 and a projected average salary structure adjustment ranging from 1.7 per cent to 2.8 per cent for 2020.

Table 4 – Salary structure adjustment (excluding freezes) by industry

Actual adjustment Projected adjustment Industry in 2019 for 2020 Median Average Median Average Agriculture, forestry, fishing and hunting 2.0% 2.2% 2.0% 2.1% Mining and oil and gas extraction 2.6% 2.8% 2.3% 2.3% Utilities 1.9% 2.1% 2.0% 1.7% Construction − 2.4% − 2.0% Manufacturing 2.0% 2.2% 2.0% 2.2% Wholesale trade 2.0% 2.7% 2.4% 2.6% Retail trade 1.8% 1.8% 2.0% 2.0% Transportation and warehousing 2.0% 2.5% 2.2% 2.7% Information and cultural industries − − − − Finance and insurance 2.0% 2.3% 2.0% 2.0% Real estate, rental and leasing − 2.2% − 2.3% Professional, scientific and technical services 2.3% 2.5% 2.0% 2.2% Management of companies and enterprises − − − − Administrative and support, waste − − − − management and remediation services Educational services 2.0% 1.9% 2.0% 2.0% Health care and social assistance 2.0% 1.8% 2.0% 2.1% Arts, entertainment and recreation 2.0% 2.5% 2.0% 2.3% Accommodation and food services 2.5% 3.2% 2.8% 2.8% Other services (except public administration) 2.0% 2.9% 2.0% 2.1% Public administration 2.0% 2.3% 2.0% 2.4% Canadian average 2.0% 2.4% 2.0% 2.2%

Salary structure adjustments reflect changes to salary range midpoints or salary scales’ maximums. The data excludes zeros and represents non-unionized employees.

9 Detailed results

Table 5 – Prevalence of salary freezes (all organizations)

# of organizations Year Yes No Don’t know 2019 7% 93% 0% 473 2020 2% 80% 18%

Table 6 – Prevalence of salary freezes by province

Province # of organizations Year Yes No Don’t know 2019 0% 100% 0% Northern Canada 25 2020 0% 92% 8% 2019 6% 94% 0% British Columbia 197 2020 2% 85% 14% 2019 8% 92% 0% Alberta 197 2020 3% 82% 15% 2019 8% 92% 0% Saskatchewan 109 2020 0% 83% 17% 2019 3% 97% 0% Manitoba 106 2020 0% 87% 13% 2019 4% 96% 0% Ontario 299 2020 1% 81% 17% 2019 2% 98% 0% Quebec 196 2020 1% 88% 11% 2019 2% 98% 0% New Brunswick 92 2020 0% 91% 9% 2019 2% 98% 0% Nova Scotia 106 2020 0% 90% 10% 2019 0% 100% 0% Prince Edward Island 40 2020 0% 95% 5%

Newfoundland 2019 0% 100% 0% 67 and Labrador 2020 0% 89% 11%

10 Table 7 – Multiple of salary budget increase forecasts for top performers (all organizations)

Up to one Job level Same Up to twice Higher Don’t know and a half Executives 37% 18% 12% 7% 25% Management 35% 20% 15% 8% 23% Professionals 36% 19% 15% 8% 22% Technical and administrative staff 38% 18% 13% 7% 24% Operations and production staff 44% 16% 9% 6% 24%

Table 8 – Prevalence of separate budgets for promotional increases (all organizations)

# of organizations Yes No 459 31% 69%

11 Table 9 – Prevalence of separate budgets for promotional increases by Industry

Industry # of organizations Yes No Agriculture, forestry, fishing and hunting 7 43% 57% Mining and oil and gas extraction 14 43% 57% Utilities 16 13% 88% Construction 14 29% 71% Manufacturing 76 45% 55% Wholesale trade 19 63% 37% Retail trade 16 38% 63% Transportation and warehousing 27 26% 74% Information and cultural industries − − − Finance and insurance 42 31% 69% Real estate, rental and leasing 7 29% 71% Professional, scientific and technical services 49 33% 67% Management of companies and enterprises − − − Administrative and support, waste management 3 33% 67% and remediation services Educational services 18 22% 78% Health care and social assistance 32 16% 84% Arts, entertainment and recreation 17 41% 59% Accommodation and food services 10 30% 70% Other services (except public administration) 60 28% 72% Public administration 29 0% 100%

12 Table 10 – Prevalence of separate budgets for promotional increases by province

Province # of organizations Yes No Northern Canada 25 28% 72% British Columbia 197 35% 65% Alberta 191 32% 68% Saskatchewan 108 32% 68% Manitoba 107 39% 61% Ontario 291 38% 62% Quebec 194 41% 59% New Brunswick 92 37% 63% Nova Scotia 106 33% 67% Prince Edward Island 40 30% 70% Newfoundland and Labrador 67 36% 64%

Table 11 – Bonus target as a % of salaries (all organizations)

Job level Median Mean Executives From 20.0% To 32.8% From 25.7% To 45.8% Management From 10.0% To 20.0% From 11.9% To 21.3% Professionals From 7.5% To 10.0% From 8.2% To 14.4% Technical and administrative staff From 5.0% To 7.0% From 5.4% To 9.2% Operations and production staff From 5.0% To 5.0% From 4.8% To 8.5%

13 Survey participants

Agriculture, forestry, fishing and hunting Construction Atlantic Poultry Acciona Infraestructures Burnbrae Farms Limited Beedie Canadian International Grains Institute Black & McDonald Dolbec Bockstael Construction EACOM Timber Corporation Canem Systems EastGen Incorporated Chouinard Bros Roofing Holstein Association of Canada Colas Canada Inc. Lactanet Canada CSL Group Ltd Millar Ltd. Lafarge Canada Inc. Mapel Reinders Mining and oil and gas extraction Mattamy Asset Management AltaGas Ltd. Nilex Inc. ARC Resources Ltd. Norland Ausenco Pomerleau Inc. COOEC Canada Propak Systems Ltd. Essential Energy Services Ltd. Forage FTE Drilling Manufacturing Glencore Mine Raglan A Raymond Tinnerman Hamilton mfg A. O. Smith Corporation Corporation ABC Technologies Imerys Talc Canada AGC Automotive Canada, Inc. Keyera Corp Air Liquide Corporation Amalgamated Dairies Limited - Rainy River Arconnas Corporation Newmont Argus Machine Co. Ltd PetroChina Canada Aryzta Canada Pretium Resources Atlas Copco Compressors Canada Bloomstar Bouquet Utilities Bonduelle Canada Algonquin Power & Utilities Corp Bourgault Industries Ltd. BC Hydro Power & Authority Bristol-Myers Squibb Bell Canada Broan NuTone Venmar Bruce Power Atlas Copco Compressors Canada Burlington Hydro Cambridge Brass Inc. Capital Power Corporation Canada Pump and Power Corp EfficiencyOne Canards du Lac Brome Inc. Carpenter Canada Co. Inc. Chemtrade Logistics Inc. EPCOR CMC Electronics Espanola Regional Hydro Distribution Conestoga Meats H2O Power Cooledge Lighting Inc. Hydro-Québec Corby Spirit & Wine Independent Electricity System Operator (IESO) Ditech paint Co Ltd Nalcor Energy Dorel Industries Inc. NB Power Dynamic Attractions Newfoundland Power Inc. Emerson Electric Canada Limited Promutuel Assurance ERCO Worldwide Essilor Canada Hydro Electric System Ltd. Evoca Group TransAlta Corporation Ford Motor Company of Canada

2020 Salary Projection Survey | September 2019 14 Manufacturing (cont.) Wholesale trade Foremost Canada Alpha Broder Canada Inc. Forterra Inc Amer Sports Canada FRE Composites Inc. Canadelle Limited Partnership Graphic Packaging International CG Insustrial Specialties Ltd. Groupe Luminaires Confiserie Mondoux Inc. GVA Lighting Deschenes Group Inc. Human Resources Manager Diva International Inc. Kemira Eddy Group Limited Knowlton Development Corporation Inc. Fairview Ltd. Kruger Inc. Hayward Pool Products Canada, Inc. Labatt Breweries of Canada Les Promotions Atlantiques Inc. Luda Foods McDougall Energy Inc. Macgregors Meat & Seafood Ltd. McKesson Canada Maison Orphée Panasonic Canada Inc. Pétroles Crevier Maple Lodge Farms RC Products Ltd. McCain Foods SMS Equipment Inc. Molded Precision Components Toyo Tire Canada Inc. Molson Coors Unipharm Wholesale Drugs Ltd. Moosehead Breweries Ltd. Norbord Inc. Retail trade NTN Bearing Mfg. Canada Bannister Cadillac Buick GMC Ltd. Parker Hannifin Canada Co-operative Association Limited Pestell Pet Products Corporation Phyton Biotech Groupe Aldo PLB International Groupe Filgo-Sonic Prinoth Ltée Henry Schein Canada, Inc. Produits alimentaire Berthelet Holt Renfrew Purdue Pharma (Canada) Indigo Books & Music Inc. Resolute Forest Products Limited Richards - Wilcox Canada Pet Valu Canada Inc. Ross Video Ltd. Reckitt Benckiser (Canada) Inc. Royal Canadian Mint Russel Metals Inc. Sobeys Safran Aerosystems, Zodiac Interconnect Canada Société des alcools du Québec Safran Landing Systems Canada Inc. Staples Canada Sealed Air (Canada) Steele Auto Group Sleeman Breweries Ltd. UFA Stace Stackpole International Transportation and warehousing Steelcraft Inc. Synagri Administration portuaire de Québec TC Transcontinental AYR Motor Express Inc. Teledyne DALSA Calgary Airport Authority Tenaris Canadian National Railway Therapure Biopharma Ltd. Timken Canada LP Congebec Inc. Ultra Electronics Maritime Systems Federal Express Canada Wescam Inc. Flair Airlines Whirlpool Canada Gordon Food Service Halifax Port Authority Highland Helicopters Ltd. Livingston International Monarch Messenger

15 Transportation and warehousing (cont.) Liberty Mutual Canada Navistar Canada ULC Middlesex Mutual Insurance Co. Ottawa International Airport Authority Mouvement Desjardins Porter Airlines Nova Scotia Pension Services Corporation Procor Limited Nuvei Purolator Inc. Ontario Mutual Insurance Association Sky Regional Airlines Inc. Richardson GMP Snowbird Aviation Services Limited Partnership RSA Canada Société de transport de Montréal Saskatchewan Workers' Compensation Board Swissport Canada Inc. SCM Insurance Services The Erb Group of Companies Servus Credit Union The O’Dwyer Group Tarion Warranty Corporation TransLink TCU Financial Group Transport ferroviaire Tshiuetin The Empire Life Insurance Company Transwest Air The Wawanesa Mutual Insurance Company UPS Canada Total Rewards Specialist A irport Authority Toyota Credit Canada Vancouver F raser Port Authority West Wind Aviation Group of Companies Real estate, rental and leasing Bosa Family Companies Information and cultural industries Canada Lands Company CLC Limited Québecor Colliers International The Globe and Mail Ivanhoé Cambridge Le Groupe Maurice Northview Apartment REIT Finance and insurance The Cadillac Fairview Corporation AGF Investments Inc. Alterna Savings and Credit Union Ltd. Professional, scientific and Assomption Vie Aviva Canada technical services BC Pension Corporation Acuren Inc BCAA Amaris BlueShore Financial Credit Union Apex Performance Consultants C.I. Investments Aptum Technologies CAAT Pension Plan Bellwyck Pharma Services CIBC M ellon Binnie Connect First CU Blake, Cassels & Graydon LLP Credit Union Central of Manitoba Blue North Strategies CWB Financial Group Brother International Corporation (Canada) Ltd. Economical Insurance Canadian Medical Association Equitable Life of Canada Carscallen LLP Fidelity Investments Centre of Excellence in Next Generation Networks First Credit Union CGI First National Financial CIMA+ Fundserv Inc. Compugen Inc. Global Excel Corem Green Shield Canada D2L (Formerly Desire 2 Learn) IA groupe financier DIALOG Independent Order of Foresters (Foresters Financial) Englobe corp. Intact Financial Corporation Entreprise de communication Tank Inc. Interior Savings C redit Union Esri Canada La Capitale assurance et services financiers GCM Consultants Lackner McLennan Insurance Ltd. Grenier Gagnon Notaires LAWPRO (Lawyers' Professional Indemnity Company) Groupe Océan

16 Professional, scientific and technical services (cont.) KIN-DIR Education Foundation IBI Group Mitacs Inc Innovapost North West College Insum NSCAD University International Road Dynamics Polytechnique Montréal Ipsos Queen’s University IT International Telecom Canada Inc. Red Deer College Ivy Technology Jibestream Kinectrics Southern Alberta Institute of Technology Konecranes Canada Inc. Strathcona-Tweedsmuir School LMI Technologies Trafalgar Castle School March Consulting Associates Inc. Western University MOPSsys Inc. Morrison Hershfield Myers Benefit Consulting Inc. Health care and social assistance Optimum Talent Inc. Alberta Health Services Osler, Hoskin & Harcourt LLP Altasciences Parkland Geotechnical Consulting Ltd. Amica ProBenefits Consulting Buron Holdings Ltd. Relic Entertainment, Inc. Canadian Blood Services Saba Software Canuck Place Children’s Hospice Safety Codes Council CapitalCare StarTech.com Limited Centre for Newcomers Stewart McKelvey Chinook Village Technical Safety BC CNIB Tecsys, Inc. Duchesnay Inc. The Resource Corporation Torys LLP EFW Radiology Willowglen Systems Inc. Grandview Children’s Centre WorldReach Software Corporation H&H Total Care Services WSP Canada Inc. Huron Perth Healthcare Alliance Xperigo Kemptville District Hospital Leeds, Grenville & Lanark District Health Unit Management of companies and enterprises Loving Spoonful Mayfair Diagnostics Carrera Group New Age Services Inc. North East Local Health Integration Network Administrative and support, waste Ontario Institute for Cancer Research management and remediation services Ottawa-Carleton Lifeskills Inc. Alberta Recycling Management Authority posAbilities Miller Waste Systems Inc. Reena Terrapure Environmental Revera Inc. Sanofi Canada Inc. Educational services Saskatchewan Association of Health Organizations Inc. Saskatchewan Health Authority Canadian College of Naturopathic Medicine Services and Housing In The Province Collège Sainte-Anne The Elliott Community Columbia College Wequedong Lodge Concordia University Foundations for the Future Charter Academy

17 Arts, entertainment and recreation Chemistry Industry Association of Canada Aga Khan Museum Chicken Farmers of Ontario Collège des médecins du Québec Bardel Entertainment Inc. College of Nurses of Ontario BC Lottery Corporation College of Physicians and Surgeons of Ontario Boat Rocker Media Inc. Corporation des concessionnaires d’automobiles du Québec Calgary Winter Club CPA Ontario Canada’s Wonderland Company Consortium de recherche et d’innovation Canadian Olympic Committee en bioprocédés industriels au Québec (CRIBIQ) Canlan Ice Sports Corp. CSA Group CBC/Radio-Canada Cuso International Fondation Jules et Paul-Émile Léger CSI Calgary Glenn Davis Group Gateway Casinos & Entertainment Limited Health Association Nova Scotia Corporation Homestarts Incorporated Heritage Park Society IMCD Canada Loto-Québec Informa Canada McMichael Collection IWA - Forest Industry Pension Plan The Professional Association of Canadian Theatres (PACT) Jewish Federation of Ottawa/Ottawa Jewish Community YMCA of Oakville Foundation YMCAs of Cambridge and Kitchener-Waterloo JORI International Ltd. YWCA Calgary Law Society of Alberta Law Society of Ontario Libéo Accommodation and food services Medical Council of Canada Cabot Links NexJ Systems Compass Group Canada Nogdawindamin Family and Community Services Delta Toronto Nova Scotia College of Nursing Fairmont Chateau Lake Louise Oceanwise Four Seasons Hotels & Resorts (Corporate) Ontario College of Teachers GEF Seniors Housing Ontario Dental Association Les Hôtels JARO Ontario Hospital Association Marriott Hotels of Canada Ontario Medical Association McDonald’s Restaurants of Canada Ontario Native Women’s Association Oliver & Bonacini Hospitality Ontario Real Estate Association Rocky Mountaineer Oshawa Public Libraries Transat AT Peel Children’s Aid Society Pitney Bowes of Canada Other services (except public administration) Procom A. Harvey Group of Companies Real Estate Council of Alberta ACCES Employment Real Estate Council of Ontario Alliance des cadres de l’État Retail Council of Canada Angus Consulting Management Limited Rick Hansen Foundation Avante Logixx Inc Ritchie Bros. Auctioneers BCREA (British Columbia Real Estate Association) Saskatchewan Indian Gaming Authority Brookfield Renewable Shepp CAA Club Group Silver Sage Housing CAA-Québec Sisters of Charity Canadian Bankers Association Sofina Foods Canadian Dental Association Sunwing Vacations Inc. Canadian Life and Health Insurance Association Inc. Tervita Corporation Canadian Nuclear Association Tourism Vancouver C-CORE United Way of the Lower Mainland

18 Public administration Canada-Newfoundland & Labrador Offshore Petroleum Board (C-NLOPB) CATSA City of Abbotsford City of Fredericton City of Mississauga City of Ottawa City of Regina City of Vancouver Edmonton Economic Development Corporation Government of the Milton MRC de La Haute-Yamaska Municipality of Cumberland County Pacific Pilotage Authority Service New Brunswick Société du Parc Jean-Drapeau The District Municipality of Muskoka Toronto Community Housing Toronto Port Authority Town of Cochrane Town of Morinville Town of Newmarket Town of Quispamsis Town of Sundre Town of Truro Township of North Frontenac Ville de Lévis Ville de Rigaud Ville de Vaudreuil-Dorion

19 Notice This document is intended for general informational purposes only and is not intended to be professional advice. The information contained in this document is based on sources that are believed to be reliable. Morneau Shepell, however, makes no representations or warranties as to the accuracy or completeness of such information and shall not be liable for any loss or damage (including direct, indirect, consequential, punitive, exemplary or incidental damages) for any error, omission or inaccuracy in such information. Morneau Shepell logos and other trademarks are the property of Morneau Shepell Ltd. in Canada and/ or other countries. No part of this document may be reproduced in any manner without the prior written permission of Morneau Shepell.

For more information Anand Parsan Morneau Shepell Compensation Team VP, Compensation Consulting Practice [email protected] [email protected] 1 866 222-0012 416 355-5465

20 Morneau Shepell is the leading provider of technology-enabled HR services that delivers an integrated approach to well-being through our cloud-based platform. Our focus is providing everything our clients need to support the mental, physical, social and financial well-being of their people. By improving lives, we improve business. Our approach spans services in employee and family assistance, health and wellness, recognition, pension and benefits administration, retirement and benefits consulting, actuarial and investment services. Morneau Shepell employs almost 6,000 employees who work with some 24,000 client organizations that use our services in 162 countries. Morneau Shepell is a publicly traded company on the Toronto Exchange (TSX: MSI).

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