Security-Based Compensation Arrangements

The Company’s annual burn rate, calculated as described in Section 613(p) of the TSX Company Manual, under the Stock Option Plan was 3.96% in fiscal 2015, 0.86% in fiscal 2016 and 1.53% in fiscal 2017.

The Company’s annual burn rate, calculated as described in Section 613(p) of the TSX Company Manual, under the Share Appreciation Rights Plan was 0.00% in fiscal 2015, 1.11% in fiscal 2016 and 0.00% in fiscal 2017.

The Company’s annual burn rate, calculated as described in Section 613(p) of the TSX Company Manual, under the Restricted Stock Units Plan was 0.23% in fiscal 2015, 0.00% in fiscal 2016 and 0.00% in fiscal 2017.