THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING/McGILL UNIVERSITY Canadian Equities │ As at December 31, 2018

Canadian Equities Above $500,000 Publicly Traded and Held in Segregated Accounts (in Cdn $)

TORONTO DOMINION BANK 9,563,781 FIRSTSERVICE CORP NEW 1,230,806 ROYAL BANK OF 9,176,929 ENERFLEX LTD 1,214,720 SUNCOR ENERGY INC 5,429,750 RESTAURANT BRANDS INTL INC 1,192,185 BROOKFIELD ASSET MGMT INC 5,193,963 SHOPIFY INC 1,176,814 ALIMENTATION COUCHE-TARD INC 4,969,858 COGECO COMMUNICATIONS INC 1,137,994 CGI GROUP INC 4,833,648 COLLIERS INTL GROUP INC 1,128,221 ENBRIDGE INC 4,657,551 PARKLAND FUEL CORP 1,079,425 ROGERS COMMUNICATIONS INC 4,495,490 RICHELIEU HARDWARE LTD 1,036,774 CONSTELLATION SOFTWARE INC 3,747,986 ALTUS GROUP LTD 996,554 CANADIAN NATURAL RESOURCES 3,734,375 CANADIAN UTILITIES LTD 961,775 CANADIAN PACIFIC RAILWAY LTD 3,613,736 ATS AUTOMATION TOOLING SYS 941,250 CCL INDUSTRIES INC 3,594,158 TUCOWS INC 918,638 CANADIAN NATIONAL RAILWAY CO 3,559,881 NORBORD INC 904,669 INTACT FINANCIAL CORP 3,219,608 LASSONDE INDUSTRIES INC 885,533 CANADIAN APARTMENT PPTYS REI 3,043,011 MULLEN GROUP LTD 852,417 SUN LIFE FINANCIAL INC 2,988,325 INC 845,421 FRANCO-NEVADA CORP 2,514,444 SECURE ENERGY SERVICES INC 815,803 NUTRIEN LTD 2,305,435 THOMSON REUTERS CORP 780,216 FORTIS INC 1,879,609 EQUITABLE GROUP INC 778,256 ONEX CORP 1,694,808 RECIPE UNLIMITED CORP 771,282 METRO INC 1,635,408 LEON'S FURNITURE LTD 737,853 TOROMONT INDUSTRIES LTD 1,566,486 RUSSEL METALS INC 669,506 PEMBINA PIPELINE CORP 1,544,484 INC 668,339 TELUS CORP 1,540,174 GDI INTEGRATED FACILITY SVCS 647,151 STELLA-JONES INC 1,498,288 EXCO TECHNOLOGIES LTD 633,455 GREAT WEST LIFECO INC 1,493,765 KINAXIS INC 602,392 1,458,318 KELT EXPLORATION LTD 596,393 LOBLAW COMPANIES LTD 1,429,424 ABSOLUTE SOFTWARE CORP 584,440 BARRICK GOLD CORP 1,423,828 MAJOR DRILLING GROUP INTL INC 573,312 INC 1,410,760 EMERA INC 572,732 CENOVUS ENERGY INC 1,390,397 CES ENERGY SOLUTIONS CORP 566,997 WINPAK LTD 1,390,050 NUVISTA ENERGY LTD 551,082 PRAIRIESKY ROYALTY LTD 1,269,855 POWER FINANCIAL CORP 537,187 ENGHOUSE SYSTEMS LTD 1,248,242 FIRST QUANTUM MINERALS LTD 520,039 AGNICO EAGLE MINES LIMITED 1,242,781

Total Canadian equities above $500,000 (publicly traded and held in segregated accounts) 133,868,233

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THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING/McGILL UNIVERSITY Canadian Equities │ As at December 31, 2018

Canadian Equities Below $500,000 Publicly Traded and Held in Segregated Accounts (in Cdn $)

MAV BEAUTY BRANDS INC LOGISTEC CORP HORIZON NORTH LOGISTICS INC POWER CORP CANADA K-BRO LINEN INC PEYTO EXPLORATION & DEV CORP KNIGHT THERAPEUTICS INC INTERTAPE POLYMER GROUP INC AUTOCANADA INC COMPUTER MODELLING GROUP LTD CI FINANCIAL INC CANADA GOOSE HOLDINGS INC WSP GLOBAL INC INTERNATIONAL INC NEW LOOK VISION GROUP INC PRECISION DRILLING CORPORATION CERVUS EQUIPMENT CORPORATION XENON PHARMACEUTICALS INC ZCL COMPOSITE INC BANK OF IPL PLASTICS INC SAVARIA CORP 5N PLUS INC INTERFOR CORP TRICAN WELL SERVICE LTD BCE INC IBI GROUP INC OSTA BIOTECHNOLOGIES INC MAXAR TECHNOLOGIES LTD SOCIETE COOPERATIVE AGRICOLE WESTON (GEORGE) LTD PRESIDENT BRAND GOLD MINING CO

Total Canadian equities below $500,000 (publicly traded and held in 7,885,624 segregated accounts)

Canadian Equities Pooled and Exchange Traded Funds (in Cdn $)

ISHARES S&P/TSX60 Index ETF 2,613,015

Total Canadian Equities Pooled and Exchange Traded Funds 2,613,015

Total 144,366,872

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