Investor Presentaiton

Economic structure AB's population expected to grow Change in the Alberta population by component 140 120 100 80 60 40 (Thousands) 3.5 3.0 2.5 2.0 1.5 (%) 1.0 0.5 0.0 -0.5 20 0 -20 2004 2005 2006 2007 Population Growth (Right) Population gains driven by natural increases and immigration Sources: Statistics Canada and Alberta Treasury Board and Finance, f-forecast, Q1-first quarter update, B-2016 Budget Alberta 11 2008 Natural Increase (Left) Net International (Left) Net Interprovincial (Left) 2009 2010 2011 2012 2013 2014 2015 2016f (Q1) 2017f (Q1) 2018f (B) 2019f (B)

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