Investor Presentaiton

12 Stable Housing Sector and Strong Household Income Building Permits In Billions of Dollars 2014-2018 4.4 3.6 Housing Starts In Thousands 2014-2018 8,100 3.5 3.0 2.8 4,607 6,739 5,362 4,978 Household Income (Median After-Tax) In Thousands of Dollars Statistics Canada, 2016 Census 76 69 65 61 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 Region of Peel Toronto CMA Ontario Canada Building Permits began to rebound in 2018 after new government measures implemented in 2016 and 2017 to cool over-heated housing market 2019 Housing Starts rebounding to historical 10 year average of ~5,700 25% higher than Canada 17% higher than Ontario ✓ 10% higher than Toronto CMA Region of Peel working with you

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