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Annual Fees and Other Fees Payable

Fees Payable to the Autorité des marchés financiers as of January 1, 2012

Notice of Adjustment

In accordance with section 83.7 of the Financial Administration Act (R.S.Q., c. A-6.001), the Minister of Finance is hereby publishing the result of the adjustment for 2012 of the fees set by the Government under the above-cited regulations, for the public services offered pursuant to the laws administered by the Autorité des marchés financiers (the “Authority” or the “AMF).

Under section 83.3 of the Financial Administration Act, these fees are adjusted by operation of law on 1 January of each year by a rate corresponding to the annual change in the overall average Québec consumer price index without alcoholic beverages and tobacco products for the 12-month period ending on 30 September of the year preceding the year for which the fee is to be adjusted. The rate corresponding to this annual change for the 12-month period ended September 30, 2011, is set at 2.66% and is published on the website of the Ministère des Finances and in the Gazette officielle du Québec of November 12, 2011 (2011, G.O. 1, 1179).

The adjusted fees are rounded off in accordance with the Regulation respecting the rounding off of adjusted fees, enacted by Order number M.O. M-6.001-83.5-01 dated September 24, 2010 (2010, G.O. 2, 4088), made by the Minister of Finance pursuant to section 83.5 of the Financial Administration Act.