Jack Cahalane

NBC Global Finance Limited

NBCGF is an indirect wholly-owned subsidiary of National Bank of Canada ("NBC"). The main strategic purpose of NBCGF is to enable the NBC Group ("NBC Group", meaning National Bank of Canada and all its subsidiaries) to grow and diversify its presence in Europe while allowing for a natural development of its existing business relationships and the establishment of new ones in the European markets. NBC has over 150 years of history and is currently the 6th largest Canadian bank. Through its branch and subsidiary network, NBC is able to service clients throughout North America and Europe. Ultimately, NBC's strategy is to establish NBCGF as its hub for trading and financial services in Europe.