Investor Presentaiton

United States January 2008 Doing Business in Alberta Competitive Corporate Taxes Comparison of Corporate Income Taxes 32.7% 6.3% 39.0%* Alberta January 2008 19.5% 10.0% 29.5% Alberta 2012 15.0% 10.0% 25.0% ☐ Federal Provincial / State *6.3% represents the average effective top general state corporate income tax rate U.S. rates known as of January 2008 Source: Alberta Finance and Enterprise & Federation of Tax Administrators Alberta Finance and Enterprise

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