2018 TSX Composite Compensation & Performance Report

This report includes compensation data for the CEO, CFO and COO positions (where available) at Canadian companies listed on the S&P/TSX Composite Index (“TSX Composite”) as of June 18, 2018 from the most recent management information circular or annual information forms. Compensation data is taken as of July 6, 2018. The report also includes relative performance rankings for each company within the TSX Composite for seven (7) common performance measures.

Use this report to benchmark executive compensation levels across Canada and in different industries. It can also be used as a great research tool to examine general trends in the make-up of executive compensation packages and relative performance in Canada.

Each compensation spreadsheet (CEO, CFO, COO) is provided by organization name in alphabetical order and includes the following:

• Organization Name
• Incumbent Name
• Position Title
• Base Salary
• Share-Based Awards
• Option-Based Awards
• Non-Equity Incentive Plan Compensation – Annual Incentive Awards
• Non-Equity Incentive Plan Compensation – Long-Term Incentive Awards
• Pension Value
• All Other Compensation
• Total Reported Compensation
• Total Reported Compensation Rank

All compensation figures provided have been converted to Canadian dollars within this report. Compensation figures shown for executives at companies with fiscal year ends other than December 31 have been converted based on the exchange rate disclosed in the companies’ proxies. All other data in the analysis has been converted using the average exchange rate for the respective year, as provided by S&P Global Market Intelligence.

* Please note: Not all companies provide compensation information for each of the three executive roles included within this report while others combine CEO, CFO or COO duties under one incumbent. In these cases, CEO, CFO or COO compensation data has not been provided for that company.

The company performance ranking spreadsheet is provided in alphabetical order and illustrates the relative ranking for each company within this subset of 246 companies for the following performance measures:

• Total Shareholder Return
• Return on Assets
• Return on Capital
• Return on Equity
• EPS Growth
• EBITDA Growth
• Net Income Growth

It is important to note that each company would normally use a unique peer group specific to its industry when designing compensation packages and evaluating relative performance, rather than comparing to the entire S&P/TSX Composite Index.

Important Note: Compensation data for Brookfield Business Partners L.P., Brookfield Infrastructure Partners L.P., Brookfield Property Partners L.P. and Enbridge Income Fund Holdings Inc.  has been excluded from this report due to inadequate compensation disclosures for the their most recent fiscal years

Global Governance Advisors (GGA) is a trusted top 5 North American Human Capital Management firm providing Boards of Directors and Senior Management teams with advisory and technology solutions in the areas of executive compensation, board effectiveness, CEO succession planning, corporate governance and shareholder engagement. GGA is internationally recognized, servicing clients from offices in Toronto, Calgary, New York and Miami.