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Investor Presentaiton

(%) -2 -4 46 -6 2 0 Q3-2010 6 4 Economic structure Costs are coming down Appendix Year-over-year change in non-residential construction price index 8 Source: Statistics Canada Alberta Q3-2011 Q3-2012 Q3-2013 Q3-2014 Q3-2015 Alberta -Calgary -Edmonton Q3-2016 28
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