THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING/McGILL UNIVERSITY Non-North American Equities │ As at March 31, 2017

Non-North American Equities above $500,000 Publicly Traded and Held in Segregated Accounts As at March 31, 2017 (in Cdn $)

GLAXOSMITHKLINE PLC 2,243,490 TELEFONICA SA 867,096 SAP SE 1,826,052 NEWCREST MINING LTD 856,523 BNP PARIBAS SA 1,806,567 KEYENCE CORP 853,689 ABB LTD 1,642,866 INFINEON TECHNOLOGIES AG 846,401 COMPASS GROUP PLC 1,632,852 HOYA CORP 814,112 NESTLE SA 1,566,726 WOLSELEY PLC 813,140 MACQUARIE GROUP LTD 1,566,008 TECHNIPFMC PLC 809,493 KBC GROUP NV 1,504,313 DAIMLER AG 806,636 TOKIO MARINE HOLDINGS INC 1,450,065 AIRCASTLE LTD 788,434 MITSUBISHI UFJ FINANCIAL GROUP 1,437,032 SHIONOGI & CO LTD 763,624 VANECK VECTORS GOLD MINERS E 1,379,633 SUBARU CORP 752,558 ROCHE HOLDING AG 1,374,543 ASAHI KASEI CORP 736,781 FANUC CORP 1,365,606 CHRISTIAN DIOR SE 733,494 DEUTSCHE TELEKOM AG 1,333,726 WPP PLC 731,430 STATOIL ASA 1,281,432 PARTNERS GROUP HOLDING AG 724,664 NOVARTIS AG 1,221,939 BAE SYSTEMS PLC 721,530 BUNGE LTD 1,215,609 LONZA GROUP AG 712,394 RANDGOLD RESOURCES LTD 1,168,032 SIEMENS AG 694,873 WOLTERS KLUWER NV 1,158,062 GROUP PLC 685,495 UNILEVER PLC 1,149,051 FLEX LTD 683,362 AXA SA 1,133,171 IBERDROLA SA 670,746 THALES SA 1,122,867 ENEL SPA 665,384 ASAHI GROUP HOLDINGS LTD 1,113,032 BANCO LATINOAMERICANO DE COM 640,021 TOKYO ELECTRON LTD 1,105,626 NOVO NORDISK A/S 609,302 KAO CORP 1,095,836 RANDSTAD HOLDING NV 603,304 AMADEUS IT GROUP SA 1,068,342 SKF AB 590,379 CIE GENERALE DES ETABLISSEMENT 1,067,755 ARKEMA SA 580,553 VALIDUS HOLDINGS LTD 1,052,863 VONOVIA SE 574,510 BASF SE 1,028,258 BAYERISCHE MOTOREN WERKE AG 573,512 HSBC HOLDINGS PLC 1,006,209 ROYAL DUTCH SHELL PLC 566,551 ATOS SE 995,493 ANHEUSER-BUSCH INBEV SA/NV 559,368 AIA GROUP LTD 985,509 KDDI CORP 542,065 MITSUBISHI ELECTRIC CORP 969,064 MALLINCKRODT PLC 534,967 DAIKIN INDUSTRIES LTD 950,460 ASPEN INSURANCE HOLDINGS LTD 534,507 VALEO SA 919,892 ITOCHU CORP 521,922 SWEDBANK AB 903,505 NATIONAL GRID PLC 521,555 GLENCORE PLC 892,828 AENA SA 519,532 ADECCO GROUP AG 882,770 BURBERRY GROUP PLC 517,509 ADIDAS AG 881,247 ASTRAZENECA PLC 514,810 VINCI SA 874,563 CRH PLC 514,355 UNILEVER NV 874,255 3I GROUP PLC 511,502 CHECK POINT SOFTWARE TECHNOLOG 872,817 BEAZLEY PLC 505,984 SANOFI 869,057 Total non-North American equities above $500,000 (publicly traded and held in 79,757,088 segregated accounts) 1

THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING/McGILL UNIVERSITY Non-North American Equities │ As at March 31, 2017

Non-North American Equities Below $500,000 Publicly Traded and Held in Segregated Accounts

As at March 31, 2017 (in Cdn $)

TAISEI CORP ASSICURAZIONI GENERALI SPA MERCK KGAA TAYLOR WIMPEY PLC DSV A/S INTERNATIONAL PLC INDUSTRIA DE DISENO TEXTIL SA UNITED OVERSEAS BANK LTD NTT DOCOMO INC SONY CORP NITORI HOLDINGS CO LTD GENMAB A/S NIPPON TELEGRAPH & TELEPHONE C OVERSEA-CHINESE BANKING CORP L PANDORA A/S EAST JAPAN RAILWAY CO BUNZL PLC MEIJI HOLDINGS CO LTD CHICAGO BRIDGE & IRON CO NV BERKELEY GROUP HOLDINGS PLC DIAGEO PLC INTERPUMP GROUP SPA STMICROELECTRONICS NV UCB SA CRODA INTERNATIONAL PLC SONOVA HOLDING AG SINGAPORE TELECOMMUNICATIONS L TELECOM ITALIA SPA/MILANO ENDESA SA UBS GROUP AG TOYOTA MOTOR CORP BANDAI NAMCO HOLDINGS INC VIVENDI SA SVENSKA CELLULOSA AB SCA BANKINTER SA ASTELLAS PHARMA INC MTU AERO ENGINES AG DBS GROUP HOLDINGS LTD ING GROEP NV CSL LTD ALPS ELECTRIC CO LTD HENNES & MAURITZ AB SODEXO SA SPIRAX-SARCO ENGINEERING PLC RIO TINTO PLC KION GROUP AG RECKITT BENCKISER GROUP PLC UBM PLC CONTINENTAL AG EVONIK INDUSTRIES AG BANCO SANTANDER SA RYOHIN KEIKAKU CO LTD HERMES INTERNATIONAL WESFARMERS LTD BOLIDEN AB ROWAN COS PLC SEAGATE TECHNOLOGY PLC UNIBAIL-RODAMCO SE DEUTSCHE POST AG POLA ORBIS HOLDINGS INC PROXIMUS SADP CIE PLASTIC OMNIUM SA COLOPLAST A/S LTD ENI SPA DAI-ICHI LIFE HOLDINGS INC SEGRO PLC MIZUHO FINANCIAL GROUP INC TELENOR ASA COVESTRO AG NORDEA BANK AB INTERTEK GROUP PLC TDC A/S HONDA MOTOR CO LTD CONSOLIDATED WATER CO LTD RECORDATI SPA

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THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING/McGILL UNIVERSITY Non-North American Equities │ As at March 31, 2017

SSE PLC DHT HOLDINGS INC TELSTRA CORP LTD BANCA GENERALI SPA PLC HEINEKEN NV ANA HOLDINGS INC WH SMITH PLC PERSIMMON PLC CHUBU ELECTRIC POWER CO INC FIAT CHRYSLER AUTOMOBILES NV AUSTRALIA & NEW ZEALAND BANKIN AMDOCS LTD HASEKO CORP KINGSPAN GROUP PLC SUBSEA 7 SA KOITO MANUFACTURING CO LTD TAKEDA PHARMACEUTICAL CO LTD CAIXABANK SA PROVIDENT FINANCIAL PLC DAIWA HOUSE INDUSTRY CO LTD PLC EUROFINS SCIENTIFIC SE FUJI ELECTRIC CO LTD SARTORIUS AG SWATCH GROUP AG/THE LION CORP ASCENDAS REAL ESTATE INVESTMEN RWE AG TEVA PHARMACEUTICAL INDUSTRIES OBAYASHI CORP GROUP PL MAGICJACK VOCALTEC LTD LOGITECH INTERNATIONAL SA NABORS INDUSTRIES LTD LAND SECURITIES GROUP PLC INTRUM JUSTITIA AB CALTEX AUSTRALIA LTD SWISSCOM AG PLC JAPAN AIRLINES CO LTD PLC BRIDGESTONE CORP RUBIS SCA CK HUTCHISON HOLDINGS LTD KAJIMA CORP SUMITOMO MITSUI FINANCIAL GROU CENTRAL JAPAN RAILWAY CO COMMONWEALTH BANK OF AUSTRALIA ALLIANZ SE BHP BILLITON LTD BIOMERIEUX DAIFUKU CO LTD SUMITOMO METAL MINING CO LTD IPSEN SA LINE CORP GROUP PLC COMFORTDELGRO CORP LTD BANK LEUMI LE-ISRAEL BM BREMBO SPA FERRARI NV COCA-COLA AMATIL LTD KANSAI ELECTRIC POWER CO INC/T LUXOTTICA GROUP SPA NIHON M&A CENTER INC UNICREDIT SPA T&D HOLDINGS INC INTERMEDIATE CAPITAL GROUP PLC WIRECARD AG MITSUI MINING & SMELTING CO LT MIZRAHI TEFAHOT BANK LTD QBE INSURANCE GROUP LTD NATIONAL AUSTRALIA BANK LTD AZIMUT HOLDING SPA BANK HAPOALIM BM TOKYO GAS CO LTD PARK24 CO LTD BEKAERT SA ICON PLC CEMBRA MONEY BANK AG MAPFRE SA RESONA HOLDINGS INC DOWNER EDI LTD DISTRIBUIDORA INTERNACIONAL DE SCSK CORP PLC 3

THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING/McGILL UNIVERSITY Non-North American Equities │ As at March 31, 2017

RENISHAW PLC STARHUB LTD TIS INC MIRVAC GROUP PLC ASM PACIFIC TECHNOLOGY LTD HITACHI CHEMICAL CO LTD MISUMI GROUP INC FUCHS PETROLUB SE VICINITY CENTRES DORMAKABA HOLDING AG DOMINO'S PIZZA ENTERPRISES LTD HEXPOL AB PROSEGUR CIA DE SEGURIDAD SA NOBLE CORP PLC OSAKA GAS CO LTD ABC-MART INC MONEYSUPERMARKET.COM GROUP PLC TSURUHA HOLDINGS INC DOMINO'S PIZZA GROUP PLC HALMA PLC SMITH & NEPHEW PLC HUSQVARNA AB MS&AD INSURANCE GROUP HOLDINGS WESTPAC BANKING CORP SCENTRE GROUP PLC MURATA MANUFACTURING CO LTD WIX.COM LTD OZ MINERALS LTD SALVATORE FERRAGAMO SPA ASAHI INTECC CO LTD FINECOBANK BANCA FINECO SPA INSURANCE AUSTRALIA GROUP LTD MINEBEA MITSUMI INC SAGE GROUP PLC/THE TEMP HOLDINGS CO LTD PLC SEVEN & I HOLDINGS CO LTD SOMPO HOLDINGS INC SHIMAMURA CO LTD DEXUS PROPERTY GROUP AGL ENERGY LTD FEVERTREE DRINKS PLC GROUP PLC MITSUBISHI ESTATE CO LTD COSTAMARE INC TPG TELECOM LTD INTESA SANPAOLO SPA MARUBENI CORP WEST JAPAN RAILWAY CO MITSUBISHI CORP VEOLIA ENVIRONNEMENT SA GOODMAN GROUP ORACLE CORP JAPAN WOOLWORTHS LTD BRAMBLES LTD WESTFIELD CORP BECHTLE AG RIO TINTO LTD ORIX CORP SINGAPORE PRESS HOLDINGS LTD NICHIAS CORP DEUTSCHE WOHNEN AG SEB SA SHIN-ETSU CHEMICAL CO LTD CANON INC STOCKLAND SUMITOMO CORP GPT GROUP/THE ZENKOKU HOSHO CO LTD CAPITALAND LTD DENSO CORP SOFTBANK GROUP CORP FABEGE AB ELECTRIC POWER DEVELOPMENT CO HUHTAMAKI OYJ MAZDA MOTOR CORP NEXITY SA LENDLEASE GROUP LAWSON INC COLRUYT SA LENZING AG SHIMIZU CORP HUFVUDSTADEN AB TORAY INDUSTRIES INC 4

THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING/McGILL UNIVERSITY Non-North American Equities │ As at March 31, 2017

HITACHI LTD FLIGHT CENTRE TRAVEL GROUP LTD NISSAN CHEMICAL INDUSTRIES LTD SMC CORP/JAPAN DAIICHI SANKYO CO LTD SPARK NEW ZEALAND LTD PANASONIC CORP CHINA HIGH PRECISION AUTOMATIO AEON CO LTD SINGAPORE AIRLINES LTD

Total non-North American equities below $500,000 (publicly traded and held in segregated accounts) 54,162,982

Non-North American Equity Pooled and Exchange Traded Funds As at March 31, 2017 (in Cdn $)

COMGEST GROWTH EMERG MRKT FD 73,262,900 ISHARES MSCI UNITED KINGDOM 713,926 ABERDEEN CDA EMRG MKTS EQ FD 40,307,057 DESAUTELS GLOBAL EQUITY FUND 432,863 WILLIAM BLAIR EMERG MKT GRWTH 22,130,419 ISHARES MSCI SINGAPORE CAPPE 135,889 HEXAVEST FOSSIL FUEL FREE ACWI 5,000,000 ISHARES MSCI AUSTRALIA ETF 73,515 HEXAVEST EMERGING MKTS FD 800 3,426,923 ISHARES MSCI SWITZERLAND CAP 35,485

Total non-North American equity pooled and exchange traded funds 145,518,976 Total 279,439,046

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