PROJECT AGREEMENT Execution Version THE REGINA BYPASS PROJECT CONFIDENTIAL The Regina Bypass Project Project Agreement Execution Version TABLE OF CONTENTS 1. DEFINITIONS AND INTERPRETATION .................................................................................... 2 1.1 Definitions and Interpretation ...................................................................................................... 2 1.2 Conflict of Terms ......................................................................................................................... 3 1.3 Conflict of Documents ................................................................................................................. 4 2. COMMERCIAL CLOSE AND FINANCIAL CLOSE ................................................................... 4 2.1 Effective Date .............................................................................................................................. 4 2.2 Standby Letter of Credit ............................................................................................................... 4 2.3 Financial Close ............................................................................................................................. 5 2.4 Disruption in Financial Markets .................................................................................................. 5 3. SCOPE OF AGREEMENT ............................................................................................................. 6 3.1 Scope of Agreement ..................................................................................................................... 6 3.2 Early Works Agreement ............................................................................................................... 6 4. BUSINESS OPPORTUNITIES ....................................................................................................... 7 4.1 Business Opportunities ................................................................................................................ 7 5. REPRESENTATIONS AND WARRANTIES ................................................................................ 7 5.1 Project Co Representations and Warranties ................................................................................. 7 5.2 Ministry Representations and Warranties .................................................................................... 9 6. BACKGROUND INFORMATION .............................................................................................. 11 6.1 No Liability ................................................................................................................................ 11 6.2 No Warranty ............................................................................................................................... 11 6.3 No Claims .................................................................................................................................. 11 6.4 Technical Reports ...................................................................................................................... 12 7. PROJECT DOCUMENTS ............................................................................................................. 13 7.1 Project Documents ..................................................................................................................... 13 7.2 Ancillary Documents ................................................................................................................. 13 7.3 Changes to Lending Agreements and Refinancing .................................................................... 14 7.4 Compliance with Lending Agreements ...................................................................................... 14 8. MINISTRY RESPONSIBILITIES ................................................................................................ 14 8.1 General ....................................................................................................................................... 14 8.2 Ministry Obligations: Permits, Licences and Approvals ........................................................... 15 9. PROJECT CO RESPONSIBILITIES ............................................................................................ 16 9.1 Other Business ........................................................................................................................... 16 9.2 General ....................................................................................................................................... 16 9.3 Project Co Parties ....................................................................................................................... 16 9.4 Project Co Obligations: Permits, Licences and Approvals ........................................................ 17 9.5 Safety and Security .................................................................................................................... 17 9.6 Protest and Trespass ................................................................................................................... 18 Confidential Page i The Regina Bypass Project Project Agreement Execution Version 9.7 Additional Works and Third Party Works ................................................................................. 20 9.8 Additional Lands ........................................................................................................................ 20 9.9 Maintenance Facilities ............................................................................................................... 20 9.10 Environmental Matters ............................................................................................................... 21 9.11 First Nations and Métis Procurement and Employment Opportunities ..................................... 21 10. REPRESENTATIVES ................................................................................................................... 22 10.1 The Ministry Representative ...................................................................................................... 22 10.2 The Project Co Representative ................................................................................................... 22 10.3 Communications to Representatives .......................................................................................... 23 10.4 Key Individuals .......................................................................................................................... 23 11. WORKS COMMITTEE ................................................................................................................ 24 11.1 Establishment ............................................................................................................................. 24 11.2 Function and Role ...................................................................................................................... 24 11.3 Term of Works Committee ........................................................................................................ 25 11.4 Replacement of Committee Members ........................................................................................ 25 11.5 Procedures and Practices ............................................................................................................ 26 12. BYPASS MANAGEMENT COMMITTEE .................................................................................. 27 12.1 Establishment ............................................................................................................................. 27 12.2 Function and Role ...................................................................................................................... 27 12.3 Replacement of Committee Members ........................................................................................ 28 12.4 Procedures and Practices ............................................................................................................ 28 13. INTEGRATED MANAGEMENT SYSTEM ................................................................................ 29 14. LICENCE ....................................................................................................................................... 29 14.1 Licence to Lands ........................................................................................................................ 29 14.2 Non-exclusive Licence/Development of Lands ......................................................................... 30 14.3 Naming and Signage .................................................................................................................. 31 14.4 No Interest in Land .................................................................................................................... 31 14.5 Non-Disturbance Agreement ..................................................................................................... 31 15. ENCUMBRANCES ....................................................................................................................... 31 15.1 Encumbrances ............................................................................................................................ 31 15.2 No Site Encumbrances ............................................................................................................... 32 16. SITE CONDITION .......................................................................................................................