Experienced Investment Advisors Overview

Experienced Investment Advisors Overview

experience. driven. On behalf of the Executive and Management of PI Financial Corp. (PI), I would like to thank you for considering our firm for your Investment Advisory business. Read on and you will realize the opportunity to be part of a leading mid-tier firm in Canada. At PI, our profitability and capital provide the strength needed for us to emerge as the next leading independent firm in the country. PI s recent expansion into the Toronto market in our newly renovated Scotia Plaza office, has set the stage for our continued growth across Canada. At PI, our success and your success are fully aligned. Our platform, compensation, and equity ownership opportunity enables Investment Advisors and Portfolio Managers to build real wealth and participate in the firm s profitability. As opportunities present themselves, we will continue to recruit select IAs with an attractive transition program including an equity ownership opportunity. Unlike many of our competitors shares, PI shares have provided healthy distributions and liquidity for our shareholders. As you look through the next several pages of our overview, I encourage you to consider just a few of the many advantages our firm has to offer you: + Equity ownership in the firm + Competitive compensation + Independence + Entrepreneurial culture + Experienced Management and Executive team + Attractive downtown premises in Vancouver, Toronto, Calgary & Victoria For more information regarding opportunities at PI Financial Corp. please feel free to contact me directly. Don Cromar, CIM, FCSI Senior Vice President Head of Private Client Services Direct: (604) 718-7511 Toll Free: 1-800-810-7022 dcromar@pifinancialcorp.com 02

www.pifinancialcorp.com Performance. Intelligence. PI Financial Corp. has been profitable every year since the firm s inception in 1982. Our founders, Max Meier, Chairman & CEO, and John T. Eymann, Vice- Chairman, have led the firm to its current capital position of over $33 million (as at June 30, 2011). National Bank Financial (NBF) provides us with additional support through its 25% ownership position. Our Investment Advisors control over 45% of the firm, with the 30% remainder in the hands of management and other employees. As an IIROC member firm, we are a member of the Canadian Investor Protection Fund (CIPF) providing your clients with the same protection afforded all clients of member firms in the highly unlikely event of insolvency. Our sound corporate governance has provided the leadership and necessary oversight which have led to year after year of excellent regulatory audits. We have built a stable firm with consistent profitability. Our strong capital position has provided peace of mind for our clients; the stability needed for issuers and our Investment Advisors; and excellent returns for our shareholders. 03

www.pifinancialcorp.com We Provide the Full Range of Products and Services + Access to equities, options, and Exchange Traded Funds + Model portfolios, mutual funds, hedge funds, and structured products Competitive Compensation At PI, you can be assured of a stable environment with the freedom to do your type of business. There is no pressure to sell proprietary products and, best of all, our compensation ensures that you keep a fair share of the revenue you generate. Our flexible and non-bureaucratic work environment is also reflected in our approach to fees and commissions. Unlike many of our competitors, our Investment Advisors and Portfolio Managers are compensated on a flat payout basis. We don t pay you less for pricing your business competitively. Our IAs and PMs pay a nominal ticket charge on each transaction. Our low minimum commissions and no fee RRSP accounts (in excess of $100k) provide a competitive and low-cost environment for your valued clients. The firm has prided itself on its competitive compensation with attractive payouts and a flexible structure. For IAs producing in excess of $20,000 in revenue on a monthly basis, we increase the payout to provide funds for additional support. For producers in excess of $1 million in annual revenue, we increase the payout further and additional funds for equity ownership are bonused at the $1.4 million level. Our payouts for top producers are very competitive and for mid-level producers, we are one of the highest on the street. We encourage our IAs to take an equity position in the firm. Our shareholder bonuses provide an attractive yield on investment, and as we grow further, PI shares will become increasingly valuable. Giving you the freedom and flexibility to be compensated competitively, manage some of your costs and control your business is just one of the many benefits we offer. + Investment Banking support for both brokered and non-brokered financings + Fixed-Income offerings (including GICs) from most major dealers + We are a Bank of Canada auction participant enabling direct participation in new government fixed-income issues + Insurance & Segregated Funds through our wholly-owned insurance subsidiary, PI Financial Services Corp. + Access to a wide variety of third party fundamental and technical research as well as our own internal Research Department + New issues from National Bank Financial, Penson, as well as PI s own syndicated deals. + Client web access + Full IA remote capability + RRSPs, RRIFs, TFSAs, and Individual Pension Plans IPPs. + Fee-based and traditional commission based accounts + Discretionary Advisor Managed Platform for accredited Portfolio Managers 04

Extensive Research We recognize that having the research tools at your fingertips that you need to support your decision making and to keep you and your clients informed and up to date is critical to your success. Our research is second to none with access to PI s in-house Research Department covering Metals & Minerals, Oil & Gas, Special Situations, Transportation, Consumer Products, and Technology. Externally, we receive research from our partners at National Bank Financial enabling access to Credit Suisse First Boston. In addition, we provide the Gartman Letter daily as well as a bi-weekly technical call with Donald Dony of Donald Dony & Associates. With one of the top Mining Analysts in Canada, and our experienced Oil & Gas team in Calgary, we are well positioned in these vital sectors to support you, your Private Clients, and reporting issuers. Internally, our Portfolio Strategy Committee oversees management of our internal ETF model portfolios and growth models utilizing our Research Department s Quarterly Top Picks. Our Top Picks have significantly outperformed both the TSX and TSX Venture indexes since we started tracking returns in 2003. New Issues and Investment Banking To diversify your revenue stream and provide your clients with access to new issues, PI is pleased to provide access to: + A complete range of new issues from small capitalization through to large cap companies + PI lead, co-lead, and syndicate member deals + National equity issues via NBF and Penson + National debt issues via NBF + Federal Government debt issues through Bank of Canada auctions + In-house Corporate Finance and analytical support for both brokered and non-brokered financings Clients are able to access our internal research through our web site as well as in hard copy. Co-branded copies of NBF research are also available. Through our intranet, IAs can access both internal research and the wide array of third party research that we provide. 05

Experienced and Reliable Infrastructure Our experienced Operations Team provides an efficient and professional back office for our IAs and clients. Your onboarding experience will be seamless for both you and your team, as well as your clients. Our front office includes: + Broadridge Portfolio System Our Management Team understands your needs and will treat you as a valued client. With direct access to Senior Management, you have a voice and the opportunity for timely decision making. As many of our Senior Management team also run books of business, we are in touch with the investing with a fully integrated Order public and understand the issues of Management System the day. Combined with our open + Thomson One quote system door policy, this understanding has + Intranet and internet site with Advisors, but to successfully recruit timely information and updates + Access to dynamic IA websites offered by Advisor Websites + Full remote access capability In addition, our real time client account access provides you and your clients with instant online access to account information. 06 Experienced Local Management enabled us to not only retain our top talent. Our leadership team is involved in the industry with representation on various IIROC councils and Investment Industry Association of Canada (IIAC) committees. Our voice ensures we are representing the interests of our clients, our Advisors, and other member firms.

www.pifinancialcorp.com Proven. Insight. There is no substitute for the experience that comes from 30 years of success in the financial services industry. Our profitability and capital growth provide the financial strength to protect the assets of our private clients and to serve our corporate clients financing needs. PI stands for a commitment to clients and to our Investment Advisors that is Professional, Personal, dedicated to Performance, and Passionate. We are a company of Integrity of Inspired people with Insight and great Instincts. Contact us today to find out about how you can become a member of Canada s next leading independent investment dealer. For more information regarding our firm, please visit our website at www.pifinancialcorp.com and contact me directly. Don Cromar, CIM, FCSI Senior Vice President Head of Private Client Services Direct: (604) 718-7511 Toll Free: 1-800-810-7022 dcromar@pifinancialcorp.com 07

Vancouver 1900 666 Burrard Street Vancouver, BC Canada V6C 3N1 Toll Free 800 810 7022 Phone 604 664 2900 Fax 604 664 2666 Victoria 620 880 Douglas Street Victoria, BC Canada V8W 2B7 Toll Free 877 405 2900 Phone 250 405 2900 Fax 250 405 2911 Toronto 3401 40 King Street W Toronto, ON Canada M5H 3Y2 Toll Free 877 983 9040 Phone 416 883 9040 Fax 647 789 2401 Winnipeg 1520 360 Main Street Winnipeg, MB Canada R3C 3Z3 Toll Free 800 847 9985 Phone 204.987.7220 Fax 204.982.7957 Calgary 1560 300 5th Avenue SW Calgary, AB Canada T2P 3C4 Toll Free 866 543 2911 Phone 403 543 2900 Fax 403 543 2800 Regina 102 2022 Cornwall Street Regina, SK Canada S4P 2K5 Toll Free 877 525 7650 Phone 306.525.7650 Fax 306.525.7669 Proven. Insight. Professional. Integrity. www.pifinancialcorp.com Members: All major Canadian Stock Exchanges, Investment Industry Regulatory Organization of Canada, Canadian Investor Protection Fund.