Investor Presentaiton

Canada: Q3 2023 Housing Affordability (non-condo) City Average price of home in metropolitan Household Months of saving annual income needed for downpayment (10% savings rate) Mortgage payment as % of income (MPPI) market Toronto $1,219,008 $254,216 311 89.1% Vancouver $1,673,264 $348,949 464 133.3% Calgary $630,562 $154,454 50 47.2% Edmonton $456,068 $112,943 30 34.1% NATIONAL BANK ANGUS WATT FINANCIAL ADVISORY GROUP+ WEALTH MANAGEMENT NBF Economics and Strategy (data via Statistics Canada, Teranet-National Bank)

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