Investor Presentaiton

Canada: Standard of living at a standstill Real GDP per capita 114 Index (2016Q1=100) 112 110 108 106 104 102 100 98 96 94 92 90 88 86 84 2016 2017 2018 2019 2020 NATIONAL BANK ANGUS WATT FINANCIAL ADVISORY GROUP+ WEALTH MANAGEMENT 2021 2022 2023 Source:NBF Economics and Strategy (data via Statistics Canada and BEA)

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