Investor Presentaiton

Debt issuance benefits - We are a debt issuer Benefits for PSP Debt issuance is used to increase Total Fund market exposure Efficient financing by issuing at the Total Fund level ― Long-term assets being financed by long-term funding ― Leverage allows us to enhance returns and fulfill our mandate AAA Rating - Exposure to Canadian Federal SSA issuer Positive spread vs. Government of Canada agencies - Frequent, predictable issuances ― Improved secondary liquidity ― Increasingly diversified and international investor base Benefits for investors 12 Complementary Information PSP

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