THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING/McGILL UNIVERSITY Non‐North American Equities │ As June 30, 2017

Non-North American Equities above $500,000 Publicly Traded and Held in Segregated Accounts As at June 30, 2017 (in Cdn $)

MITSUBISHI UFJ FINANCIAL GROUP 2,556,202 SONY CORP 869,909 BNP PARIBAS SA 2,487,042 SUMITOMO MITSUI FINANCIAL GROU 865,452 GLAXOSMITHKLINE PLC 2,082,986 INFINEON TECHNOLOGIES AG 848,634 NESTLE SA 1,805,112 MIZUHO FINANCIAL GROUP INC 833,544 COMPASS GROUP PLC 1,775,302 PARTNERS GROUP HOLDING AG 828,732 NOVO NORDISK A/S 1,734,402 FANUC CORP 825,979 UNILEVER PLC 1,597,831 TOKYO ELECTRON LTD 806,035 DIAGEO PLC 1,583,125 VEOLIA ENVIRONNEMENT SA 797,010 KBC GROUP NV 1,539,601 ASAHI KASEI CORP 795,535 STATOIL ASA 1,504,927 LAZARD LTD 776,177 KAO CORP 1,490,858 ATOS SE 767,313 SIEMENS AG 1,410,492 SOCIETE GENERALE SA 765,217 ROCHE HOLDING AG 1,381,774 NEWCREST MINING LTD 759,208 SAP SE 1,315,598 UNILEVER NV 750,353 AMADEUS IT GROUP SA 1,244,244 ING GROEP NV 745,722 THALES SA 1,212,072 BANCO SANTANDER SA 722,208 NOVARTIS AG 1,201,662 HSBC HOLDINGS PLC 720,854 CIE GENERALE DES ETABLISSEMENT 1,178,115 BAE SYSTEMS PLC 719,649 ASAHI GROUP HOLDINGS LTD 1,175,020 AIRCASTLE LTD 692,045 ABB LTD 1,170,424 VODAFONE GROUP PLC 682,512 WOLTERS KLUWER NV 1,150,024 DSV A/S 681,905 LONZA GROUP AG 1,134,906 DAIMLER AG 672,675 BUNGE LTD 1,114,155 ANHEUSER‐BUSCH INBEV SA/NV 671,196 AIA GROUP LTD 1,112,342 3I GROUP PLC 663,501 CHECK POINT SOFTWARE TECHNOLOG 1,097,032 SPA 657,547 ADIDAS AG 1,088,502 TELEFONICA SA 653,523 CARDTRONICS PLC 1,056,597 FLEX LTD 646,045 AMBARELLA INC 1,046,031 SPA 623,218 SHIONOGI & CO LTD 1,034,518 AENA SA 622,042 GLENCORE PLC 1,023,725 RECKITT BENCKISER GROUP PLC 618,479 HOYA CORP 1,018,043 BANCO LATINOAMERICANO DECOMER 615,160 TOKIO MARINE HOLDINGS INC 999,900 ARKEMA SA 609,061 VINCI SA 987,820 TRINSEO SA 606,701 VONOVIA SE 987,675 MTU AERO ENGINES AG 604,916 MACQUARIE GROUP LTD 980,822 WOLSELEY PLC 589,774 GALAXY ENTERTAINMENT GROUP LTD 969,926 SKF AB 585,908 BASF SE 943,438 BEAZLEY PLC 583,707 DAIKIN INDUSTRIES LTD 941,280 UBS GROUP AG 582,458 DEUTSCHE TELEKOM AG 937,919 BAYERISCHE MOTOREN WERKE AG 568,868 ADECCO GROUP AG 924,843 ASTRAZENECA PLC 544,350 SWEDBANK AB 921,013 KDDI CORP 532,986 KEYENCE CORP 912,465 MALLINCKRODT PLC 523,753 VALEO SA 902,614 MERCK KGAA 506,847 SANOFI 893,290 INDUSTRIA DE DISENO TEXTIL SA 506,604 SPA 881,020 BURBERRY GROUP PLC 504,363 1

THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING/McGILL UNIVERSITY Non‐North American Equities │ As June 30, 2017

Total non-North American equities above $500,000 (publicly traded and held in segregated 87,054,363 accounts)

Non-North American Equities Below $500,000 Publicly Traded and Held in Segregated Accounts As at June 30, 2017 (in Cdn $)

ASPEN INSURANCE HOLDINGS LTD TELECOM ITALIA SPA/MILANO DAI‐ICHI LIFE HOLDINGS INC TAISEI CORP TELENOR ASA TSURUHA HOLDINGS INC RANDGOLD RESOURCES LTD OVERSEA‐CHINESE BANKING CORP L ENDESA SA NITORI HOLDINGS CO LTD SONOVA HOLDING AG CIE PLASTIC OMNIUM SA STMICROELECTRONICS NV BOLIDEN AB BRIDGESTONE CORP CRODA INTERNATIONAL PLC GENMAB A/S RANDSTAD HOLDING NV VIVENDI SA UNITED OVERSEAS BANK LTD NV BUNZL PLC MICRO FOCUS INTERNATIONAL PLC ICON PLC BANCO BILBAO VIZCAYA ARGENTARI EAST JAPAN RAILWAY CO HITACHI CHEMICAL CO LTD VALIDUS HOLDINGS LTD SWISSCOM AG KOITO MANUFACTURING CO LTD IBERDROLA SA NATIXIS SA NIHON M&A CENTER INC BANDAI NAMCO HOLDINGS INC BARCLAYS PLC WIRECARD AG BANKINTER SA RIO TINTO PLC KANSAI ELECTRIC POWER CO INC/T NIPPON TELEGRAPH & TELEPHONE C SEAGATE TECHNOLOGY PLC ESSITY AB WPP PLC SPIRAX‐SARCO ENGINEERING PLC COVESTRO AG SODEXO SA KION GROUP AG WH SMITH PLC SINGAPORE TELECOMMUNICATIONS L EUROFINS SCIENTIFIC SE PROVIDENT FINANCIAL PLC SPA COLOPLAST A/S WESFARMERS LTD NTT DOCOMO INC SEGRO PLC CK HUTCHISON HOLDINGS LTD ZURICH INSURANCE GROUP AG DBS GROUP HOLDINGS LTD GREENCORE GROUP PLC TELSTRA CORP LTD RECORDATI SPA HONDA MOTOR CO LTD INTERTEK GROUP PLC OBAYASHI CORP SHIMAMURA CO LTD PROXIMUS SADP NATIONAL GRID PLC JAPAN AIRLINES CO LTD TOYOTA MOTOR CORP SPA KAJIMA CORP DEUTSCHE POST AG MEIJI HOLDINGS CO LTD HEINEKEN NV TDC A/S MUENCHENER RUECKVERSICHERUNGS‐ FUCHS PETROLUB SE RESONA HOLDINGS INC CHICAGO BRIDGE & IRON CO NV SCSK CORP NORDEA BANK AB ANA HOLDINGS INC SUMITOMO MITSUI TRUST HOLDINGS HERMES INTERNATIONAL NOMURA RESEARCH INSTITUTE LTD T&D HOLDINGS INC ALLIANZ SE FINECOBANK BANCA FINECO SPA SPA HISCOX LTD SMITH & NEPHEW PLC ZENKOKU HOSHO CO LTD BELLWAY PLC HENNES & MAURITZ AB INTRUM JUSTITIA AB CONTINENTAL AG SARTORIUS AG DOWNER EDI LTD SPA ASTELLAS PHARMA INC COMMONWEALTH BANK OF AUSTRALIA CONSOLIDATED WATER CO LTD AMDOCS LTD BEKAERT SA MAPFRE SA UCB SA JUPITER FUND MANAGEMENT PLC

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THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING/McGILL UNIVERSITY Non‐North American Equities │ As June 30, 2017

IPSEN SA DISTRIBUIDORA INTERNACIONAL DE DEUTSCHE BANK AG RUBIS SCA TIS INC ORIX CORP HASEKO CORP BREMBO SPA HUFVUDSTADEN AB MISUMI GROUP INC SURUGA BANK LTD UNIBAIL‐RODAMCO SE LOGITECH INTERNATIONAL SA DORMAKABA HOLDING AG ORIENTAL LAND CO LTD/JAPAN RENESAS ELECTRONICS CORP HUSQVARNA AB WESTPAC BANKING CORP INTERMEDIATE CAPITAL GROUP PLC HALMA PLC LAWSON INC TAKEDA PHARMACEUTICAL CO LTD ANIMA HOLDING SPA TAYLOR WIMPEY PLC RYOHIN KEIKAKU CO LTD FUJI ELECTRIC CO LTD SUMITOMO CORP PROSIEBENSAT.1 MEDIA SE KINGSPAN GROUP PLC MONEYSUPERMARKET.COM GROUP MAGICJACK VOCALTEC LTD BIOMERIEUX PROSEGUR CIA DE SEGURIDAD SA AXA SA KOSE CORP SALVATORE FERRAGAMO SPA PLAYTECH PLC BECHTLE AG OSAKA GAS CO LTD POLA ORBIS HOLDINGS INC HEXPOL AB MIRVAC GROUP LION CORP ITOCHU CORP DENSO CORP PARK24 CO LTD ORACLE CORP JAPAN SAGE GROUP PLC/THE CHUBU ELECTRIC POWER CO INC NABTESCO CORP MURATA MANUFACTURING CO LTD CALTEX AUSTRALIA LTD ORPEA CARL ZEISS MEDITEC AG STANDARD CHARTERED PLC VICTREX PLC MS&AD INSURANCE GROUP HOLDINGS BABCOCK INTERNATIONAL GROUP PL FEVERTREE DRINKS PLC AEGON NV ASCENDAS REAL ESTATE INVESTMEN FABEGE AB STARHUB LTD ASAHI INTECC CO LTD CINEWORLD GROUP PLC NN GROUP NV NATIONAL AUSTRALIA BANK LTD RENISHAW PLC DOMINO'S PIZZA GROUP PLC SWATCH GROUP AG/THE NICHIAS CORP HARVEY NORMAN HOLDINGS LTD LENZING AG COMFORTDELGRO CORP LTD CREDIT AGRICOLE SA MITSUI MINING & SMELTING CO LT COSTAMARE INC VICINITY CENTRES TEVA PHARMACEUTICAL INDUSTRIES LINE CORP SCENTRE GROUP DHT HOLDINGS INC NOKIAN RENKAAT OYJ SONY FINANCIAL HOLDINGS INC SPA FIAT CHRYSLER AUTOMOBILES NV METRO BANK PLC TOKYO GAS CO LTD SYNTHOMER PLC DEXUS ASM PACIFIC TECHNOLOGY LTD WEST JAPAN RAILWAY CO CSL LTD CEMBRA MONEY BANK AG NEXITY SA JCDECAUX SA DAIFUKU CO LTD QBE INSURANCE GROUP LTD MARUBENI CORP DOMINO'S PIZZA ENTERPRISES LTD ABC‐MART INC DEUTSCHE WOHNEN AG START TODAY CO LTD SEVEN & I HOLDINGS CO LTD BERKELEY GROUP HOLDINGS PLC RWE AG NABORS INDUSTRIES LTD HAMMERSON PLC CENTRAL JAPAN RAILWAY CO WIX.COM LTD GOODMAN GROUP LUXOTTICA GROUP SPA CANON INC IZUMI CO LTD MINEBEA MITSUMI INC CLOSE BROTHERS GROUP PLC LAND SECURITIES GROUP PLC ROWAN COS PLC BRAMBLES LTD RIO TINTO LTD SEB SA PERSOL HOLDINGS CO LTD COCA‐COLA AMATIL LTD AJINOMOTO CO INC TERUMO CORP UBM PLC ONO PHARMACEUTICAL CO LTD HUHTAMAKI OYJ DAIWA HOUSE INDUSTRY CO LTD 3

THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING/McGILL UNIVERSITY Non‐North American Equities │ As June 30, 2017

SOFTBANK GROUP CORP FLIGHT CENTRE TRAVEL GROUP LTD EVONIK INDUSTRIES AG SHIMIZU CORP PANASONIC CORP STRAUMANN HOLDING AG SHIN‐ETSU CHEMICAL CO LTD DAIICHI SANKYO CO LTD ANDRITZ AG TPG TELECOM LTD TORAY INDUSTRIES INC TRYG A/S TECHNOPRO HOLDINGS INC MIZRAHI TEFAHOT BANK LTD SPARK NEW ZEALAND LTD BELIMO HOLDING AG SINGAPORE AIRLINES LTD DANSKE BANK A/S GREAT PORTLAND ESTATES PLC AUSTRALIA & NEW ZEALAND BANKIN CELESIO AG WESTFIELD CORP SUZUKEN CO LTD/AICHI JAPAN VESTAS WIND SYSTEMS A/S LENDLEASE GROUP ROYAL DUTCH SHELL PLC VOLKSWAGEN AG ELECTRIC POWER DEVELOPMENT CO SAMPO OYJ KONINKLIJKE VOPAK NV COLRUYT SA PERSIMMON PLC SIKA AG CNP ASSURANCES KONE OYJ BURCKHARDT COMPRESSION HOLDING SINGAPORE PRESS HOLDINGS LTD GEBERIT AG NOVOZYMES A/S STOCKLAND ANHEUSER‐BUSCH INBEV SA/NV/OLD FIELMANN AG ENGIE SA BAYER AG RYMAN HEALTHCARE LTD CAPITALAND LTD TUI AG FISHER & PAYKEL HEALTHCARE COR GPT GROUP/THE ISS A/S HUGO BOSS AG MAZDA MOTOR CORP PANDORA A/S CHINA HIGH PRECISION AUTOMATIO MEDIPAL HOLDINGS CORP SYNGENTA AG SWISS RE AG HITACHI LTD KUEHNE + NAGEL INTERNATIONAL A BERTRANDT AG SUNDRUG CO LTD E.ON SE PHAROL SGPS SA ALFRESA HOLDINGS CORP JERONIMO MARTINS SGPS SA FRAPORT AG FRANKFURT AIRPORT S WASHTEC AG CIE FINANCIERE RICHEMONT SA DANIELI & C OFFICINE MECCANICH

Total non-North American equities below $500,000 (publicly traded and held in segregated accounts) 55,322,387

Non-North American Equity Pooled and Exchange Traded Funds As at June 30, 2017 (in Cdn $)

COMGEST GROWTH EMERG MRKT FD 90,527,024 ISHARES MSCI UNITED KINGDOM 711,876 ABERDEEN CDA EMRG MKTS EQ FD 41,748,640 DESAUTELS GLOBAL EQUITY FUND 423,938 WILLIAM BLAIR EMERG MKT GRWTH 23,945,261 ISHARES MSCI SINGAPORE CAPPE 137,027 HEXAVEST FOSSIL FUEL FREE ACWI 4,987,753 ISHARES MSCI AUSTRALIA ETF 68,644 HEXAVEST EMERGING MKTS FD 800 3,530,945 ISHARES MSCI SWITZERLAND CAP 37,073

Total non-North American equity pooled and exchange traded funds 166,118,180

Total 308,494,930

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