Introducing sustainable investing from Scotia iTRADE.

All research, analysis, charting, reports, estimates, commentary, information, strategies, data, opinions and news (collectively, the "Research") are provided to you for general informational purposes only and do not address the circumstances of any particular investor. Except for Scotiabank Global Banking and Markets research, all Research has been prepared and supplied by independent third parties that are not affiliated with Scotia Capital Inc. or any of its affiliates, and accordingly may not have been, and no representation is made that such Research has been, prepared in accordance with Canadian disclosure requirements. Neither the Research nor the profiles of the third party research providers have been endorsed or approved by Scotia Capital Inc., and Scotia Capital Inc. is not responsible for the content thereof or for any third party products or services. Scotiabank Global Banking and Markets research is provided by Scotia Capital Inc. Scotia Capital Inc. and/or its affiliates may have acted as financial advisor and/or underwriter for certain of the corporations mentioned in the Research and may have received and may receive remuneration for same. Scotia Capital Inc., its affiliates and/or their respective officers, directors and/or employees may from time to time acquire, hold or sell securities mentioned as principal or agent. Nothing in the Research constitutes a recommendation by Scotia iTRADE to buy, sell or hold any security discussed therein, and the Research neither is, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by Scotia iTRADE. Scotia iTRADE does not make any determination of your general investment needs and objectives, or provide advice or recommendations regarding the purchase or sale of any security, financial, legal, tax or accounting advice, or advice regarding the suitability or profitability of any particular investment or investment strategy. You will not solicit any such advice from Scotia iTRADE and in making investment decisions, you will consult with and rely upon your own advisors and not Scotia iTRADE. You are fully responsible for any investment decisions that you make and any profits or losses that may result. Any opinions, views, advice or other content provided by a third party are solely those of such third party, and Scotia Capital Inc. neither endorses nor accepts any liability in respect thereof. No endorsement or approval by Scotia Capital Inc. or any of its affiliates of any third party product, service, website or information is expressed or implied by any information, material or content contained in, available through, included with, linked to or referred to in the Research, on the Scotia iTRADE website or in any other Scotia iTRADE communication. Neither Scotia Capital Inc. nor its affiliates accept any liability for any investment loss arising from any use of the Research or its contents. Scotia iTRADE is a division of Scotia Capital Inc.

Unless otherwise expressly stated by Scotia iTRADE®, webinars and other educational tools and resources ("Content") are provided by independent third parties unaffiliated with Scotia Capital Inc. or any of its affiliates (collectively "Scotia Capital"). Scotia Capital neither endorses or approves nor is liable for any third party, third party products, services, or Content, or investment loss arising from use of the Content. Any information, data, opinions, views, advice, recommendations or other content provided by a third party are solely those of such third party and not Scotia Capital, which accepts no liability in respect thereof. See Education .

Copyright ©2017 Sustainalytics. All rights reserved. Sustainalytics is an ESG research provider and its role is limited to providing research and analysis in order to facilitate well-informed decision-making. Sustainalytics does not represent or warrant the appropriateness of the use of any information included herein for any investment decision and any investment decisions are the sole responsibility of the users of this information. The copying, republication or redistribution of the information included herein, including by framing, scanning, copying or similar methods is expressly prohibited without the prior written consent of Sustainalytics. The information included herein reflects the situation as on the date of its elaboration. Such information has – fully or partially – been derived from third parties and is therefore subject to continuous modification. The information is provided “as is” and, therefore Sustainalytics cannot guarantee that the information is accurate and/or complete nor assume any responsibility for errors or omissions and/or any liability for damage arising from the use of the information contained herein in any manner whatsoever. “Frank Russell Company (“Russell”) is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and / or Russell ratings or underlying data and no party may rely on any Russell Indexes and/or Russell ratings and/or underlying data contained in this communication. No further distribution of Russell Data is permitted without Russell’s express written consent. Russell does not promote, sponsor or endorse the content of this communication.”