The Canadian Opportunity Richard Nesbitt Senior Executive - PowerPoint PPT Presentation

The Canadian Opportunity Richard Nesbitt Senior Executive Vice-President, CI BC, and Group Head, W holesale, I nternational, and Technology and Operations Confidential

Canada has Significant Natural Resources 2 0 1 1 Direct Natural Resources Em ploym ent 1 2 0 1 1 Natural Resources Gross Dom estic Product 1 5 % of Canada’s Total Nom inal GDP 1 ,2 (C$, billions) (thousands of people) World’s largest exporter of forest products Forest, 2 $ 3 4 Minerals 2 0 1 1 New Capital I nvestm ents in Natural Resources 1 and (C$, billions) Energy, Metals, 3 $ 1 6 2 2 $ 6 9 Canada is an Canada is one important and of the world’s reliable energy leading mining provider, nations, exporting producing $90B of more than 60 energy in minerals and 2010 metals 1 2011 Canadian nominal GDP source: International Monetary Fund. 2 Relative direct contribution of all Natural Resources (Forest, Minerals & Metals and Energy), Forest and, Mineral and Mining sector to 2011 nominal Canadian GDP as per Natural Resources Canada. 3 Relative direct contribution of Energy sector to 2011 nominal Canadian GDP estimated by CIBC World Markets as per Natural Resources Canada disclosure. 1 4 2011 Direct Natural Resources Employment and 2011 New Capital Investment in Natural resources as per Natural Resources Canada.

A W ealth of Natural Resources from Coast-to-Coast Forestry 1 Energy 1 � 10% of the world’s forests Oil Gas � Forest sector revenues of $57 � Canada ranks third in proven � billion 2 Canada ranks third globally oil reserves, after Saudi in natural gas production Arabia and Venezuela � Estimated proven natural gas Minerals & Mining 1 � Alberta’s oil sands account resources of 1.7+ trillion for the majority of Canada’s � More than 200 active mines cubic metres (tcm); potential crude oil production � World leader in potash future reserves of 20-45 tcm � About two-thirds of Canada’s production Hydroelectricity crude oil is exported � Top five producer of: aluminum, cadmium, nickel, � Canada is the third largest uranium, among others producer of hydroelectricity in the world 2 1 Natural Resources Canada, 2011, Canadian Dollars 2 Forest Product Association of Canada, 2011

Substantial I nvestm ent is Needed to Capitalize on the Available Opportunities 1 Oil Gas Hydroelectric Mining Natural Resources Extraction (Forestry, Minerals and Mining, Oil, Gas, Hydroelectric) Mackenzie Valley Pipeline Pacific Northw est LNG Northern Gatew ay Pipeline Alberta Low er Upgrader Conaw apa Churchill Site C Generating Falls Station Ring of Fire Kitim at LNG Project Keystone XL Plan Nord Pipeline Goldboro TransCanada 1 Selected projects 3

New I nfrastructure w ill Expand East-W est Trade Flow s Traditional Trade Flow s Future Trade Flow s Future Trade Flow s Future Trade Flow s Traditional Trade Flow s 4

Foreign I nvestm ent in Canadian Resources is at an All Tim e High Cum ulative Foreign Direct I nvestm ents in Canadian Public Equities – Natural Resources 1 1 Source: Statistics Canada. 5