Note
On January 2, 2018, a merger was completed between Agrium Inc. (hereinafter “Agrium”) (TSX: AGU) and Potash Corporation of Saskatchewan Inc. (TSX: POT) which led to the creation of a new public issuer, Nutrien Ltd. (hereinafter “Nutrien”) (TSX: NTR). This event triggered a Substitution Event in connection with the Reference Portfolio of the Note Securities as per the terms and conditions of the Prospectus relating to the Note Securities. As such, we hereby advise the Holders of the Note Securities that, as of January 2, 2018, the common shares of Agrium have been replaced by the common shares of Nutrien in the Reference Portfolio of the Note Securities in accordance with the terms and conditions of the Prospectus. All calculations in respect of the Reference Portfolio Return that were based on the price of the common shares of Agrium are, from January 2, 2018, until maturity, based on the price of the common shares of Nutrien.