Key Stats. Of 11 peer cities assessed, Calgary has the second highest level of economic power comparing GDP per capita.

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2 Key Stats Of 11 peer cities assessed, Calgary has the second highest level of economic power comparing GDP per capita. - Deloitte, Benchmarking Calgary s Competitiveness, 2015 Of 11 peer cities assessed, Calgary has the second highest level of economic growth comparing GDP growth. - Deloitte, Benchmarking Calgary s Competitiveness, 2015 Highest GDP per Capita in 2015 of any major Canadian city. - Statistics Canada, of the Top 10 World Banks and 10 of the Top 10 Investment Banks have a presence in Calgary - The Banker Database, 2016; Banks around the World,

3 Benchmarking Calgary s Competitiveness Calgary ranks 1 st in Population Growth (annual population growth rate) Calgary ranks 1 st in Labour Participation Calgary ranks 1 st in Education (highest education achieved) Calgary ranks 1 st in Industrial Land Price (price per sq. ft.) Calgary ranks 2 nd in Economic Power (GDP per capita) Calgary ranks 2 nd in Economic Growth (GDP growth) Calgary ranks 3 rd in Diversity (immigrant population) Calgary ranks 3 rd in Research & Development (annual R&D expenditures per capita) Calgary ranks 3 rd in Businesses per 100 people Calgary ranks 4 th in Commercial Real Estate (rent per sq. ft.) Calgary ranks 5 th in Housing Affordability (housing median multiple) Monitor Deloitte, December 2015 Peer Cities: Aberdeen, Atlanta, Brisbane, Chicago, Houston, Pittsburgh, Rio de Janeiro, Rotterdam, Singapore and Vancouver 23

4 Economic Scorecard Competitiveness Calgary ranks 2 nd in Inbound Seats per Capita Calgary ranks 3 rd in Marginal Effective Tax Rate on Capital Investment Calgary ranks 3 rd in Employment Growth (comparing five-year avg.) Calgary ranks 3 rd in Housing Affordability Calgary ranks 4 th in Overall (attractiveness to high-end talent and business investment) Calgary ranks 4 th in Real GDP per Capita Calgary ranks 4 th in Productivity Calgary ranks 6 th in Office Rents (US$ per sq. ft.) Calgary ranks 6 th in Unemployment Rate Greater Vancouver Economic Scorecard, Greater Vancouver Board of Trade, May 2016 Peer Cities: Barcelona, Copenhagen, Greater Vancouver, Halifax, Hong Kong, Houston, Los Angeles, Manchester, Miami, Montreal, Portland, Rotterdam, San Francisco, Seattle, Seoul, Shanghai, Singapore, Sydney and Toronto 24

5 Financial Competitiveness Calgary ranked #34 in the world as a Global Financial Centre Global Financial Centres Index (GFCI) 20 report ranking the competitiveness of 87 financial centres based on over 29,000 financial centre assessments Gathered from an online questionnaire and over 100 indices from organizations such as the World Bank, the Organisation for Economic Co-operation and Development (OECD) and the Economist Intelligence Unit Z/Yen, Fall

6 Economic Indicators Summary 2014 Most Current Data Annual GDP Growth 5.2% -3.2% -2.1% F Alberta Capital Expenditures on Oil and Gas Extraction $36.3 $26.5 $58.1 (Billions) Intentions Price of Oil (WTI) $75.79 (Monthly, $USD/BBL) November 2014 Price of Natural Gas $4.12 (Monthly, $USD/mmBTU) November 2014 $45.71 November 2016 $2.55 November 2016 Unemployment Rate Annual Net Migration Downtown Office Vacancy 4.6% November ,692 July 1, % Q % November ,057 July 1, % Q Sources: CBRE Limited, Conference Board of Canada, Industry Canada, Statistics Canada, U.S. Energy Information Administration 26

7 Slump vs. Slump Annual GDP Growth Slump between Data Not Available Slump between Slump between Most Current Data 1.5% -5.1% -3.2% -2.1% F Alberta Capital Expenditures on Oil and Gas Extraction $3.7 $19.7 $36.3 $26.5 Data Not Available (Billions) Intentions Price of Oil (WTI) $25.43 $13.89 $30.28 $52.74 ($USD/BBL) December 1984 February 1994 December 2008 Price of Natural Gas $1.77 $1.23 $1.83 ($USD/mmBTU) January 1981 February 1992 September 2009 Unemployment Rate Annual Net Migration Downtown Office Vacancy 13.2% 11.1% 7.5% March 1983 March 1992 January ,531 4,647 11, % Data Not Available Data Not Available Q December 12, 2016 $3.60 December 12, % November ,057 July 1, % Q Building Permits $0.87 $3.54 Data Not Available (Billions) Average Home Price $80,348 $129,491 $396,567 (Calgary All Housing Types) YTD October 2016 $432,600 November 2016 Sources: Calgary Real Estate Board, CBRE Limited, Conference Board of Canada, Industry Canada, Statistics Canada, U.S. Energy Information Administration $

8 Major Canadian Cities Comparison Vancouver Edmonton Calgary Saskatoon Toronto Ottawa Montreal Canada 2016 Forecasted GDP Growth 4.0% -1.4% -2.1% 1.7% 3.4% 1.7% 1.6% 1.5% CMA Population 2,504,340 1,363,277 1,439, ,975 6,129,934 1,332,001 4,060,692 35,851,774 July Population Growth 1.2% 2.4% 2.4% 2.0% 1.3% 1.2% 0.8% 0.9% Unemployment Rate 5.1% 6.8% 10.3% 5.4% 6.9% 6.2% 6.8% 6.8% No vember 2016 Participation Rate No vember 2016 Employment Growth 80,800-6, ,900 8,600 7, , mo nths ending No vember % -0.9% 0.0% -0.4% 0.2% 1.2% 0.3% 1.0% Full-Time Employment Growth 12 months ending November 2016 Part-Time Employment Growth 12 months ending November % 71.5% 74.6% 72.6% 66.0% 69.1% 66.5% 5.5% -3.1% -2.0% -1.5% -0.4% 0.0% 0.3% -0.2% 9.4% 8.4% 10.1% 3.3% 4.6% 8.6% -0.3% 65.6% 6.4% Provincial Average Weekly Earnings September 2016 $ $1, $1, $ $ $ $ $ Source: Conference Board of Canada, Statistics Canada 28

9 GDP Annual Growth Rate Annual Real GDP Growth Rates Across Canada 10% 8% 6% 4% 2% 4.1% 3.7% 1.6% 0% -2% -4% 0.9% -0.4% -3.2% 1.1% -2.1% -6% F Vancouver Edmonton Calgary Saskatoon Toronto Ottawa Montreal Canada Source: Conference Board of Canada 29

10 GDP Annual Growth Rate Annual Forecasted Real GDP Growth Rates Across Canada 4.5% 3.5% 2.5% 2.9% 2.6% 3.3% 3.1% 3.0% 2.8% 2.5% 2.2% 1.5% 2.0% 1.8% 0.5% -0.5% -1.5% -2.1% -2.5% 2016F 2017F 2018F 2019F 2020F Vancouver Edmonton Calgary Saskatoon Toronto Ottawa Montreal Canada Source: Conference Board of Canada 30

11 Annual GDP per Capita Across Canada $90,000 $80,000 $79, $70,000 $63, $60,000 $56, $50,000 $49, $52, $48, $45, $40,000 $40, $30,000 $20,000 $10,000 $0 Vancouver Edmonton Calgary Saskatoon Toronto Ottawa Montreal Canada Source: Statistics Canada,

12 Calgary GDP by Industry Total GDP $48.9 Billion Primary and Utilities (53.7%) Primary and Utilities (31.0%) Total GDP $115.7 Billion Finance, Insurance and Real Estate (15.6%) Business Services (9.5%) Transportation and Warehousing (2.7%) Information and Cultural Industries (1.1%) Public Administration and Defence (3.0%) Finance, Insurance and Real Estate (10.6%) Business Services (4.6%) Construction (5.1%) Wholesale and Retail Trade (5.7%) Non-Commercial Services (6.8%) Manufacturing (3.7%) Personal Services (3.0%) Construction (8.9%) Wholesale and Retail Trade (8.4%) Non-Commercial Services (7.6%) Manufacturing (5.1%) Personal Services (3.9%) Source: Conference Board of Canada Transportation and Warehousing (4.6%) Information and Cultural Industries (2.8%) Public Administration and Defence (2.7%) 32

13 Calgary Forecast GDP by Industry 2016 (2007 $ Millions) 2020 (2007 $ Millions) Total change (%) Goods-Producing Industries 50,095 57, % Manufacturing 5,533 6, % Construction 8,297 9, % Primary and utilities 36,266 41, % Services-Producing Industries 62,704 68, % Transportation and warehousing 5,152 5, % Information and cultural industries 3,133 3, % Wholesale and retail trade 9,038 9, % Finance, insurance and real estate and leasing 18,290 19, % Business services 10,732 11, % Personal services 4,354 4, % Non-commercial services 8,849 9, % Public administration and defence 3,157 3, % All Industries 112, , % Source: The Conference Board of Canada 33

14 Mining, Quarrying, Oil and Gas Extraction Transportation and Warehousing Public Administration Utilities Manufacturing Real Estate, Rental and Leasing Construction Educational Services Agriculture, Forestry, Fishing, Hunting Information and Culture Retail Trade Accommodation and Food Services Wholesale Trade Health Care, Social Assistance Administrative, Support, Waste Management, Remediation Finance and Insurance Professional, Scientific, Technical Services Arts, Entertainment, Recreation Other Services Management of Companies and Enterprises CAD$ Billions $5.1 $5.3 $4.5 $4.4 $2.5 $2.4 $2.1 $2.2 $1.9 $1.9 $1.7 $2.8 $1.7 $1.6 $1.5 $1.6 $1.0 $1.0 $1.0 $0.9 $0.8 $0.9 $0.7 $0.7 $0.7 $0.4 $0.5 $0.5 $0.4 $0.4 $0.4 $0.4 $0.3 $0.3 $0.0 $0.1 $9.4 $10.2 $28.1 $38.8 Alberta Capital Spending by Industry $40.0 $35.0 $30.0 $ Intentions $20.0 $15.0 $10.0 $5.0 $0.0 Source: Table , Statistics Canada 34

15 Growth Rate Retail Sales Growth Across Canada 90% 80% 82.1% 70% 66.7% 60% 56.7% 50% 40% 30% 27.2% 49.7% 31.6% 29.4% 27.0% 43.0% 44.2% 33.0% 40.3% 20% 20.7% 17.1% 14.0% 17.0% 10% 6.4% 3.5% 2.6% 2.9% 4.6% 4.0% 4.5% 3.6% 0% Vancouver Edmonton Calgary Saskatoon Toronto Ottawa Montreal Canada 2016F Retail Sales Growth 5-Year Retail Sales Growth 10-Year Retail Sales Growth Source: Conference Board of Canada, F 35

16 Inflation Growth Across Canada 25% 20.5% 20% 18.6% 15% 17.4% 16.9% 16.3% 14.8% 15.6% 12.2% 10% 5% 0% 7.1% 6.3% 6.6% 5.1% 5.0% 5.3% 5.2% 4.0% 2.3% 2.0% 2.2% 2.1% 1.3% 1.6% 1.9% 1.6% 1.5% 1.3% 1.1% 1.5% 1.3% 0.6% 0.9% 0.4% Vancouver Edmonton Calgary Saskatoon Toronto Ottawa Montreal Canada Current-Year Growth Rate Previous-Year Growth Rate 5-Year Total Growth Rate 10-Year Total Growth Rate Source: Statistics Canada,