Investor Presentaiton

Canada's Debt Burden, 2023/24 Combined Federal 100% 96.8% 92.0% 93.1% and Provincial Debt as a share of the 90% 86.6% 87.8% 86.9% 86.2% Federal Provincial 80% economy • 70% 63.4% Combined federal 60% and provincial 49.6% debt interest this 50% 42.9% year ($82bill) is 40% equivalent to total spent on K-12 80% education in Canada during 20% 2020-21. 10% 0% BC AB SK MB ON QC NB NS PE NL Source: https://www.fraserinstitute.org/file/growing-debt- burden-for-canadians-2024-infographic-1-optjpg NATIONAL BANK ANGUS WATT FINANCIAL ADVISORY GROUP+ WEALTH MANAGEMENT

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