The following sets out the fees charged by Cboe Canada Inc. ("Cboe Canada") with respect to its MATCHNow Trading Book. (For fees relating to the NEO-D, NEO-L, and NEO-N Trading Books, please see the "Resources" page of www.cboe.ca.) All fees are in Canadian dollars (including trading fees applicable to trades of securities that settle in US Dollars).

Fee Codes and Associated Fees

Fee Code	Description	Rate (per share)
A	Mid-point Passive (Stocks >=$5)	0.0010
B	Mid-point Active (Stock >+$5)	0.0010
C	Mid-point Passive (Stocks $1-$4.995)	0.0005
CA	Conditional (Stocks >= $5)	0.0010
CB	Conditional (Stocks $1-$4.995)	0.0005
CC	Conditional (Stocks <$1)	0.0001
CD	Conditional Debenture	0.00002
CE	Conditional ETF	0.0000
CZ	Conditional (Sponsored)	0.0050
D	Mid-point Active (Stocks $1-$4.995)	0.0005
E	Mid-point Passive (Stocks <$1)	0.0001
F	Mid-point Active (Stocks <$1)	0.0001
G	ETF Passive	0.0000
H	ETF Active	0.0005
I	MPI Passive (Stocks >=$5)	0.0010
J	MPI Active (Stocks >=$5)	0.0010
K	MPI Passive (Stocks $1-$4.995)	0.0005
L	MPI Active (Stocks $1-$4.995)	0.0005
M	MPI Passive (Stocks <$1)	0.0001
N	MPI Active (Stocks <$1)	0.0001
O	ATT Passive (Stocks <$1)	0.0001
P	ATT Active (Stocks <$1)	0.0001
Q	ATT Passive (Stocks >=$1)	0.0002
R	ATT Active (Stocks >=$1)	0.0002
S	Debentures Passive	0.00002
T	Debentures Active	0.00002
U	Odd lot Passive	0.00000
V	Odd lot Active	0.00000
X	Unintentional Cross	0.00000

Fees

All fees are in Canadian dollars (including trading fees applicable to trades of securities that settle in US Dollars). Where sales tax applies due to the nature of the fee, the applicable sales tax is GST/HST or GST and PST/QST, if applicable in the province in which the client's billing address is located. (Clients whose billing address is located outside of Canada are not subject to sales tax, regardless of the nature of the fee.)

Set-up and Access Fees

There is a one-time set-up fee of $150 + sales tax and an annual access fee of $250 + sales tax.

Trading Fees

Cboe Canada applies the same fee schedule to all securities, regardless of listing venue.

MATCHNow trades TSX listed securities, TSX Venture listed securities, CSE listed securities and Cboe Canada listed securities. All trading fees are exempt from sales tax (GST/HST and PST/QST).

Non-ETF Traded Orders at Midpoint and MPI

Stock Price	Trade Type	Trading Fee	Maximum Fee
$5.00 and over	2-sided trade	$0.0010 / share / side	$10 / side
$1.00 to $4.995	2-sided trade	$0.0005 / share / side	$10 / side
$0.995 and under	2-sided trade	$0.0001 / share / side	$5 / side
Unintentional Cross $1.00 and over	Cross	Free	N/A
Unintentional Cross under $1.00	Cross	Free	N/A

ETFs

Members pay the following trading fees for ETF traded orders:

Book	Trading Fee
Market Flow (Active)	$0.0005 / share
Market Flow (Active) Unintentional Cross	Free
Liquidity (Passive)	Free For Liquidity to Liquidity (midpoint), both sides are free

Trading Securities At The Touch

Any Canadian security can be traded At The Touch. Orders need a special FIX tag value to be eligible to trade.

All At-The-Touch Liquidity Providing equity security orders need to be “Large” size (orders must be > 50 Standard Trading Units or > $100,000).

However, At-The-Touch Market Flow equity security orders need to meet the following more restrictive minimums: orders must be (a) > 50 Standard Trading Units and > $30,000 or (b) > $100,000.

Members pay the following trading fees for orders that trade At The Touch:

Stock Price	Trading Fee	Maximum Fee
Under $1.00	$0.0001 / share / side	$3 / side
$1.00 and above	$0.0002 / share / side	N/A
Unintentional Cross	Free	N/A

Listed Debentures and Listed Notes: (includes .DB, .NT and .IR)

Members pay the following trading fees for debenture and note trading:

Book	Trade Type	Trading Fee
Market Flow (Active)	2-Sided Trade	$0.02 per $1000 par value / side
Liquidity (Passive)	2-Sided Trade	$0.02 per $1000 par value / side
Unintentional Cross	Cross	Free

All debt security At-The-Touch Market Flow orders (listed debentures and listed notes) need to be (a) > 50 Standard Trading Units and > $3,000,000 or (b) > $10,000,000.

All debt security At-The-Touch Liquidity Providing orders need to be (a) > 50 Standard Trading Units or (b) > $10,000,000.

Odd Lots

Members pay the following trading fees for trades on the MATCHNow Odd Lot Trading Facility:

Book	Trading Fee
Market Flow (Active)	Free
Liquidity (Passive)	Free

Conditionals

Conditionals – Member-originated

Trades that originate as Conditionals submitted by a Member use our regular fee schedule but without the maximum fee/cap, as follows.

Stock Price	Trade Type	Trading Fee	Maximum Fee
$5.00 and over	2-sided trade	$0.0010 / share / side	N/A
$1.00 to under $4.995	2-sided trade	$0.0005 / share / side	N/A
$0.995 and under	2-sided trade	$0.0001 / share / side	$5 / side
Listed Debentures/Notes	2-sided trade	$0.02 per $1,000 par value / side	N/A
Unintentional Cross	Cross	Free	N/A
ETF	2-sided trade	Free	N/A

Conditionals – Sponsored Access

All trades that originate as Conditionals submitted by a Sponsored User of a Member, including any trade that is an unintentional cross, are charged to the Member as follows:

Trade Type	Trading Fee
All	$0.005 / share / side

Market Data and Post-Trade Information Fees

MATCHNow public and private data are provided for a fee by Cboe Canada or, for public information only, by TMXIP. Connectivity providers and other parties requiring connectivity, for example, market data recipients (collectively, “Connectivity Customers”) and Members must request access from either Cboe Canada or TMXIP respectively.

For public feeds, Members and Connectivity Customers are charged a fee of $500 per month + sales tax for a primary and backup multicast feed. In addition, any Members or Connectivity Customer receiving a public MATCHNow market data feed through indirect distribution from any other Members or Connectivity Customer is also charged $500 per month + sales tax.

For private feeds, Cboe Canada charges each Member $100 per month + sales tax for one primary and one backup drop copy feed. Any additional drop copy feed taken directly by a Member is charged at $500 per month + sales tax per instance. Where the Member takes one or more additional drop copy feeds via a single Connectivity Customer, the fee charged to the Member is capped at $500 per month + sales tax, regardless of how many additional drop copy feeds are taken; if a Member connects through more than one Connectivity Customer and takes more than one additional drop copy feed through each such Connectivity Customer, the applicable fee is capped at $500 per month + sales tax per Connectivity Customer, regardless of how many additional feeds are taken through each of the Connectivity Customers.

The public market data feeds provided by Cboe Canada for MATCHNow are in multicast format, and the private (drop copy) feeds are FIX 4.2 unicast. Communication costs and network connectivity are the responsibility of Members and Connectivity Customers. Cboe Canada provides network connectivity for MATCHNow for a fee to Members at the Toronto Equinix TR2 (Production) and 350 Cermak Road, Chicago (Disaster Recovery) datacenters.

Communication Fees

Members and Connectivity Customers that connect to MATCHNow are responsible for carrier communications costs. Cboe Canada can arrange for network cross connects for Members and Connectivity Customers for a one-time set-up fee of $500 + sales tax and:

• in the case of a 1 Gb physical port, an on-going monthly fee of $500 + sales tax; and
• in the case of a 10 Gb physical port, an on-going monthly fee of $1,000 + sales tax.

Networking and cross connects from the Toronto and Cermak Road (Chicago) datacenters are provided by Cboe Canada.

No Rebates or Discounts

No rebates or discounts are provided to Members and Connectivity Customers, or other third parties (e.g., market data recipients) by Cboe Canada with respect to trading on or connectivity to MATCHNow. There are no volume thresholds or tiered pricing.