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Fairness for Canadian Growth Companies

April 2, 2020

Last week I wrote to Finance Minister Bill Morneau urging the Canadian government to consider important amendments to its COVID-19 response package to make all Canadian SMEs, including public companies, eligible for The Canada Emergency Wage Subsidy.

Two-thirds of Canada's public companies are still in the crucial growth phase of their life cycle and need support now as much as any other small and medium-sized business.

On Wednesday, the government announced new eligibility criteria and have since confirmed with TMX directly that publicly-traded companies, previously excluded from wage subsidy support, will now qualify on an equal footing with their privately-held counterparts.

At a time when their focus is on solving severe day-to-day operational challenges, this is good news for Canadian small businesses and, most importantly, for the thousands of Canadians that they employ. We applaud the Federal government for their inclusive and proactive approach to helping out in a time of need.

TMX will never stop advocating on behalf of our listed issuer clients and is pleased to see them getting crucial support as we all work together to weather the COVID-19 crisis.

John McKenzie

CFO and Interim CEO

TMX Group Limited