Convertible Debenture Report

As at market close on Monday, 11 July 2016 Retail Trading: 416 594 8557 Institutional Trading: 416 594 8553

Convertible Debenture Underlying Security Conversion Yields Payment Call Feature

Size Coupon Shares / Premium Cashflow Current YTM Soft Trigger / Hard
Symbol Issue Maturity Bid Ask Symbol Bid Div Yield Price Parity Dates
($M) (%) $100 (%) Payback (%) (%) Call Conv. Price Call

Oil & Gas

50.00 CJ.DB Cardinal Energy 5.50 12/31/2020 110.00 115.00 CJ 9.36 0.42 4.49% $10.50 9.524 89.14 29.0 17.2 4.78 3.21 31-Dec 30-Jun 31-Dec-18 13.125 31-Dec-20
40.00 EPS.DB Epsilon Energy Ltd/Canada 7.75 3/31/2017 99.51 100.00 EPS 3.25 - - $4.45 22.472 73.03 36.9 3.5 7.75 7.75 30-Sep 31-Mar 31-Mar-15 5.56 None
23.75 GNF.DB Greenfields Petroleum 9.00 5/31/2017 11.35 39.95 GNF 0.25 - - $8.55 11.700 2.87 1293.7 4.1 22.53 35.78 30-Nov 30-May 01-Jun-15 10.68 None
150.00 PGF.DB.B Pengrowth Energy 6.25 3/31/2017 96.60 97.00 PGF 2.29 - - $11.51 8.687 19.89 387.6 12.3 6.44 7.20 31-Mar 30-Sep 31-Mar-15 14.390 None
97.75 TGL.DB TransGlobe Energy Corp 6.00 3/31/2017 94.51 95.25 TGL 2.21 - - $13.63 7.337 16.21 487.4 13.2 6.30 7.51 30-Sep 31-Mar 31-Mar-15 17.038 31-Mar-17
85.00 TBE.DB Twin Butte 6.25 12/31/2018 15.55 16.00 TBE 0.05 - - $3.05 32.787 1.64 876.0 2.3 39.06 37.94 30-Jun 31-Dec 31-Dec-16 3.812 31-Dec-17
57.50 ZAR.DB Zargon Oil & Gas 6.00 6/30/2017 49.00 53.90 ZAR 0.44 - - $18.80 5.319 2.34 2203.0 8.6 11.13 23.45 31-Dec 30-Jun 30-Jun-15 23.500 None

Pipelines
172.50 PPL.DB.F Pembina Pipeline Corp 5.75 12/31/2018 90.02 137.50 PPL 39.54 1.92 4.86% $29.53 3.386 133.90 2.7 (4.8) 4.18 (1.08) 31-Dec 30-Jun 31-Dec-14 36.912 31-Dec-16

Gas/Propane/Electricity Distribution
330.00 JE.DB Just Energy Group Inc. [1] [4] [5] [6] 6.00 6/30/2017 99.15 99.50 JE 7.93 0.50 6.31% $18.00 5.556 44.06 125.9 17.2 6.03 6.15 30-Jun 31-Dec 30-Jun-13 22.500 30-Jun-15
100.00 JE.DB.B Just Energy Group Inc. [1] [4] [5] [6] [9] 5.75 9/30/2018 99.00 99.64 JE 7.93 0.50 6.31% $17.85 5.602 44.43 124.3 18.7 5.77 5.83 31-Mar 30-Sept 30-Sep-14 22.313 30-Sep-16
150.00 SPB.DB.F Superior Plus Corp [1] [4] [7] [9] [23] 6.00 6/30/2018 101.75 102.00 SPB 11.10 0.72 6.49% $15.10 6.623 73.51 38.8 23.1 5.88 5.53 30-Jun 31-Dec 30-Jun-14 18.875 30-Jun-16

Power
130.00 ATP.DB.U Atlantic Power [19] 5.75 6/30/2019 96.00 96.65 ATP 3.23 - - $17.25 5.797 18.72 416.2 13.6 5.95 6.43 30-Dec 30-Jun None 21.563 None
100.00 ATP.DB.D Atlantic Power 6.00 12/31/2019 97.75 98.45 ATP 3.23 - - $14.50 6.897 22.28 342.0 12.7 6.09 6.29 30-Jun 31-Dec None 18.125 31-Dec-17
143.75 BLX.DB.A Boralex Inc [1] [4] [5] [7] [9] 4.50 6/30/2020 105.05 117.40 BLX 20.00 0.56 2.80% $19.60 5.102 102.04 15.1 9.3 3.83 1.80 31-Dec 30-Jun 30-Jun-18 24.500 30-Jun-19
2185.00 EMA.IR Emera Inc 4.00 9/29/2025 50.68 50.91 EMA 49.40 2.09 4.23% $41.85 2.389 118.04 (56.9) 67.5 7.86 10.69 16-Nov 31-May None 52.312 None
75.00 NPI.DB.B Northland Power 5.00 6/30/2019 110.00 112.00 NPI 22.54 1.08 4.79% $21.60 4.630 104.35 7.3 (19120349.4) 4.46 2.77 30-Jun 31-Dec 30-Jun-17 27.000 30-Jun-18
150.00 NPI.DB.C Northland Power 4.75 6/30/2020 110.00 113.00 NPI 22.54 1.08 4.79% $21.60 4.630 104.35 8.3 (34.6) 4.20 2.67 30-Jun 31-Dec 30-Jun-19 27.000 30-Jun-20
100.00 INE.DB.A Innergex Renewable Energy [1] [4] [5] [7] 4.25 8/31/2020 107.75 109.00 INE 14.62 0.64 4.38% $15.00 6.667 97.47 11.8 (691.9) 3.90 2.84 28-Feb 31-Aug 31-Aug-18 18.750 31-Aug-19

Mining & Materials

22.00 EFR.DB Energy Fuels Inc 8.50 6/30/2017 99.00 101.00 EFR 2.93 - - $15.00 6.666 19.53 417.1 9.6 8.42 8.20 31-Dec 30-Jun 24-Jul-15 18.752 None
50.00 KGI.DB Kirkland Lake Gold Inc 6.00 6/30/2017 104.75 107.00 KGI 11.90 - - $15.00 6.667 79.33 34.9 4.6 5.61 4.03 31-Dec 30-Jun 30-Jun-14 19.500 None
69.00 KGI.DB.A Kirkland Lake Gold Inc 7.50 12/31/2017 105.25 114.28 KGI 11.90 - - $13.70 7.299 86.86 31.6 3.7 6.56 3.92 30-Jun 31-Dec 31-Dec-15 17.810 None

CIBC Convertible Debenture Report 1 of 4

 Convertible Debenture Underlying Security Conversion Yields Payment Call Feature
Size Coupon Shares / Premium Cashflow Current YTM Soft Trigger / Hard
Symbol Issue Maturity Bid Ask Symbol Bid Div Yield Price Parity Dates
($M) (%) $100 (%) Payback (%) (%) Call Conv. Price Call

Industrials
69.00 ALC.DB Algoma Central [1] [4] [5] [7] [9] 6.00 3/31/2018 102.00 102.98 ALC 11.11 0.28 2.52% $15.40 6.494 72.14 42.7 7.4 5.83 5.27 31-Mar 30-Sep 31-Mar-14 19.250 31-Mar-16
75.00 AFN.DB.A AG Growth International [1] [4] [7] 5.25 12/31/2018 102.00 103.00 AFN 40.02 2.40 6.00% $55.00 1.818 72.76 41.6 34.1 5.10 4.62 30-Jun 31-Dec 31-Dec-16 68.750 31-Dec-17
45.00 AFN.DB.B AG Growth International [1] [4] [7] 5.25 12/31/2019 102.00 102.50 AFN 40.02 2.40 6.00% $65.57 1.525 61.03 67.9 26.1 5.12 4.80 30-Jun 31-Dec 31-Dec-17 81.962 31-Dec-19
150.00 ARE.DB.B Aecon Group 5.50 12/31/2018 107.50 109.00 ARE 18.01 0.46 2.55% $20.00 5.000 90.05 21.0 5.9 5.05 3.65 30-Jun 31-Dec 13-Dec-16 25.000 31-Dec-17
57.50 BYD.DB.A Boyd Group [1] [7] [23] 5.25 10/31/2021 134.20 135.50 BYD.UN 75.10 0.50 0.67% $61.40 1.629 122.31 10.8 3.0 3.87 0.77 30-Apr 31-Oct None 76.750 31-Oct-17
15.00 BOY.DB.A Boyuan Construction Group [22] 10.00 10/31/2018 96.00 98.95 BOY 0.41 - - $1.00 100.000 41.00 141.3 5.8 10.11 10.26 30-Jun 31-Dec 01-Nov-13 1.200 None
60.00 CUS.DB.B Canexus Corp [1] [4] [5] [6] [9] [23] 5.75 12/31/2018 91.75 92.58 CUS 1.29 - - $11.35 8.811 11.37 714.6 14.1 6.21 7.42 30-Jun 31-Dec 31-Dec-14 14.188 31-Dec-16
100.00 CUS.DB.C Canexus Corp 6.00 12/31/2020 88.00 88.75 CUS 1.29 - - $11.35 8.811 11.37 680.9 12.9 6.76 7.98 30-Jun 31-Dec 01-Jan-17 14.188 31-Dec-18
75.00 CUS.DB.D Canexus Corp 6.50 12/31/2021 87.20 88.00 CUS 1.29 - - $6.50 15.385 19.85 343.4 10.5 7.39 8.45 30-Jun 31-Dec 31-Dec-17 8.125 31-Dec-19
45.00 CWX.DB CanWel Building [1] [4] [5] [7] 5.85 4/30/2017 100.00 100.25 CWX 5.59 0.56 10.02% $12.80 7.813 43.67 129.6 38.4 5.84 5.77 30-Apr 31-Oct 30-Apr-13 16.000 30-Apr-15
30.00 CVL.DB Cervus Equipment Corp 6.00 7/31/2017 101.00 101.50 CVL 11.20 0.28 2.50% $26.50 3.774 42.26 140.2 12.0 5.91 5.57 31-Jan 31-Jul 31-Jul-15 33.125 None
90.00 CHE.DB Chemtrade Logistics [1] [4] [5] [6] 6.00 3/31/2017 100.51 116.00 CHE.UN 17.44 1.20 6.88% $16.00 6.250 109.00 6.4 (4.7) 5.17 1.42 31-Mar 30-Sep 01-Apr-13 20.000 01-Apr-15
80.00 CHE.DB.A Chemtrade Logistics [1] [4] [5] [6] [9] 5.75 12/31/2018 101.75 105.72 CHE.UN 17.44 1.20 6.88% $20.00 5.000 87.20 21.2 (74.1) 5.44 4.55 30-Jun 31-Dec 01-Jan-15 25.000 01-Jan-17
110.00 CHE.DB.B Chemtrade Logistics 5.25 6/30/2021 101.75 102.40 CHE.UN 17.44 1.20 6.88% $28.00 3.571 62.29 64.4 41.6 5.13 4.88 30-Jun 31-Dec 30-Jun-17 35.000 30-Jun-19
50.00 EIF.DB.E Exchange Income Corp [1] [4] [5] [7] [9] 5.50 9/30/2019 103.00 104.00 EIF 31.53 2.01 6.37% $36.80 2.717 85.68 21.4 481.5 5.29 4.75 31-Mar 30-Sep 30-Sep-15 46.000 None
65.00 EIF.DB.F Exchange Income Corp [1] [4] [5] [7] [9] 5.35 3/31/2020 101.35 102.00 EIF 31.53 2.01 6.37% $41.60 2.404 75.79 34.6 50.6 5.25 5.00 31-Mar 30-Sep 31-Mar-16 52.000 31-Mar-18
40.00 EIF.DB.G Exchange Income Corp 6.00 3/31/2021 108.00 110.50 EIF 31.53 2.01 6.37% $31.70 3.155 99.46 11.1 (32.4) 5.43 4.38 31-Mar 30-Sep 31-Mar-17 39.625 31-Mar-19
40.25 FTP.DB Fortress Paper [1] [4] [5] [7] [9] 6.50 12/31/2016 98.75 99.24 FTP 3.87 - - $37.50 2.667 10.32 861.6 13.7 6.55 6.75 30-Jun 31-Dec 31-Dec-14 46.875 None
60.00 FTP.DB.A Fortress Paper [1] [4] [5] [7] [9] 7.00 12/31/2019 70.60 70.99 FTP 3.87 - - $31.00 3.226 12.48 468.7 8.4 9.86 13.55 31-Dec 30-Jun 01-Jul-15 38.750 01-Jul-17

REIT - Diversified
86.25 AX.DB.F Artis REIT [1] [4] [5] [6] 6.00 6/30/2020 100.01 100.29 AX.UN 13.50 1.08 8.00% $15.50 6.452 87.10 15.1 (13.6) 5.98 5.95 30-Jun 31-dec 31-Mar-14 19.375 31-Mar-16
88.00 AX.DB.U Artis REIT [1] [4] [5] [6] [19] 5.75 6/30/2018 100.35 101.04 AX.UN 13.50 1.08 8.00% $18.96 5.274 71.20 41.9 551.5 5.69 5.51 30-Jun 31-Dec 30-Jun-14 23.701 30-Jun-16
23.00 BTB.DB.D BTB REIT [22] 7.25 7/31/2018 100.32 100.40 BTB.UN 4.46 0.42 9.42% $6.10 16.393 73.11 37.3 74.8 7.22 7.15 31-Jan 31-Jul 31-Jul-14 6.100 31-Jul-16
86.25 DIR.DB Dream Industrial REIT 5.25 12/31/2019 101.60 103.00 DIR.UN 8.85 0.70 7.91% $13.80 7.246 64.13 60.6 218.6 5.10 4.71 30-Jun 31-Dec 31-Dec-15 17.250 31-Dec-17
100.00 HR.DB.D H&R REIT [1] [4] [5] [6] 5.90 6/30/2020 102.40 102.90 HR.UN 23.20 1.35 5.82% $23.50 4.255 98.72 4.2 26.9 5.73 5.40 30-Jun 31-Dec 30-Jun-14 29.375 30-Jun-16
75.00 HR.DB.E H&R REIT [1] [4] [5] [6] 4.50 12/31/2016 100.36 100.75 HR.UN 23.20 1.35 5.82% $25.70 3.891 90.27 11.6 (13.9) 4.47 4.26 30-Jun 31-Dec 30-Nov-14 32.125 30-Nov-15
75.00 HR.DB.H H&R REIT [1] [4] [5] [6] 5.40 11/30/2018 102.25 104.00 HR.UN 23.20 1.35 5.82% $24.73 4.044 93.81 10.9 (172.8) 5.19 4.55 31-May 30-Nov 30-Nov-14 30.913 01-Dec-16
30.00 MR.DB Melcor REIT 5.50 12/31/2019 101.00 110.00 MR.UN 8.33 0.68 8.10% $12.65 7.905 65.85 67.0 269.2 5.00 3.73 30-Jun 30-Dec 31-Dec-17 15.812 31-Dec-18
60.00 MRG.DB Morguard REIT 4.65 3/30/2018 102.01 110.00 MRG.UN 13.25 0.60 4.53% $15.50 6.452 85.48 28.7 31.5 4.23 2.35 31-Mar 30-Sep 01-Apr-16 19.375 01-Apr-17
150.00 MRT.DB.A Morguard REIT 4.85 10/31/2017 100.70 100.80 MRT.UN 15.31 0.96 6.27% $24.60 4.065 62.24 62.0 40.7 4.81 4.64 30-Apr 31-Oct 01-Nov-15 30.750 01-Nov-16

REIT - Shopping Centre, Retail

60.00 CRR.DB.D Crombie REIT [1] [4] [5] [6] 5.00 9/30/2019 103.16 105.50 CRR.UN 15.59 0.89 5.71% $20.10 4.975 77.56 36.0 48.8 4.74 3.99 30-Sep 31-Mar 30-Jun-15 25.125 None
75.00 CRR.DB.E Crombie REIT [1] [4] [5] [6] 5.25 3/31/2021 105.52 110.00 CRR.UN 15.59 0.89 5.71% $17.15 5.831 90.90 21.0 316.9 4.77 3.74 31-Mar 30-Sep 14-Aug-16 21.438 15-Aug-18
57.50 FCR.DB.E First Capital Realty [2] [4] [5] [6] 5.40 1/31/2019 100.25 119.00 FCR 22.21 0.86 3.87% $22.62 4.421 98.19 21.2 13.0 4.54 1.73 31-Mar 30-Sep 31-Jan-15 28.275 31-Jan-17
57.50 FCR.DB.F First Capital Realty [2] [4] [5] [6] 5.25 1/31/2019 102.51 143.51 FCR 22.21 0.86 3.87% $23.77 4.207 93.44 53.6 30.7 3.66 (2.29) 31-Mar 30-Sep 31-Jan-15 29.713 31-Jan-17
52.50 FCR.DB.I First Capital Realty 4.75 7/31/2019 102.51 104.50 FCR 22.21 0.86 3.87% $26.75 3.738 83.03 25.9 14.0 4.55 3.90 30-Sep 31-Mar 31-Jul-15 33.437 31-Jul-17
20.00 PLZ.DB.C Plazacorp 7.00 12/31/2017 100.56 108.00 PLZ.UN 5.06 0.26 5.14% $4.67 21.415 108.36 (0.3) (0.3) 6.48 4.95 30-Jun 31-Dec 31-Dec-15 5.837 31-Dec-16
34.00 PLZ.DB.D Plazacorp 5.75 12/31/2018 102.70 106.00 PLZ.UN 5.06 0.26 5.14% $5.75 17.391 88.00 20.5 14.7 5.42 4.49 30-Jun 31-Dec 01-Jan-17 7.188 01-Jan-18
34.50 PAR.DB.A Partners REIT [1] [4] [5] [6] 6.00 9/30/2017 99.09 100.00 PAR.UN 3.56 0.25 7.02% $10.35 9.662 34.40 190.7 18.3 6.00 6.00 31-Mar 30-Sep 30-Sep-15 12.938 30-Sep-16
20.00 PAR.DB.B Partners REIT 5.50 3/31/2018 97.50 99.00 PAR.UN 3.56 0.25 7.02% $10.25 9.756 34.73 185.0 21.0 5.56 5.75 31-Mar 30-Sep 31-Mar-16 12.812 31-Mar-17
40.00 ONR.DB.B OneREIT [1] [4] [5] [6] 5.45 6/30/2018 99.61 100.25 ONR.UN 3.86 0.30 7.77% $8.10 12.346 47.65 110.4 30.1 5.44 5.39 30-Jun 31 Dec 30-Jun-14 10.125 30-Jun-16
25.00 ONR.DB.C OneREIT [1] [4] [5] [6] 5.50 6/30/2020 98.27 101.00 ONR.UN 3.86 0.30 7.77% $7.20 13.889 53.61 88.4 35.5 5.45 5.33 30-Jun 31-Dec 30-Jun-16 9.000 None

REIT - Office
161.00 DRG.DB Dream Global REIT 5.50 7/31/2018 101.17 101.45 DRG.UN 9.30 0.80 8.60% $13.00 7.692 71.54 41.8 (45.7) 5.42 5.17 31-Jan 31-Jul 31-Jul-14 16.250 31-Jul-16

CIBC Convertible Debenture Report 2 of 4

 Convertible Debenture Underlying Security Conversion Yields Payment Call Feature
Size Coupon Shares / Premium Cashflow Current YTM Soft Trigger / Hard
Symbol Issue Maturity Bid Ask Symbol Bid Div Yield Price Parity Dates
($M) (%) $100 (%) Payback (%) (%) Call Conv. Price Call

REIT - Residential
57.50 KMP.DB.A Killam Properties [1] [4] [5] [6] 5.65 11/30/2017 100.06 110.00 KMP-U 13.05 0.60 4.60% $13.40 7.463 97.39 13.0 10.8 5.14 3.14 31-May 30-Nov 30-Nov-13 16.750 30-Nov-15
46.00 KMP.DB.B Killam Properties [1] [4] [5] [6] 5.45 6/30/2018 102.00 103.00 KMP-U 13.05 0.60 4.60% $14.60 6.849 89.38 15.2 10.2 5.29 4.76 30-Jun 31-Dec 30-Jun-14 18.250 30-Jun-16
20.00 RUF.DB.U Pure Multi-Fam REIT 6.50 9/30/2020 106.00 110.00 RUF.U 5.92 0.38 6.33% $5.65 17.699 104.78 5.0 (38.1) 5.91 4.85 31-Mar 30-Sep 30-Sep-16 7.062 30-Sep-18
20.00 NVU.DB Northview Apartment REIT 5.75 6/30/2019 102.10 105.00 NVU.UN 22.60 1.63 7.21% $23.80 4.202 94.96 10.6 (9.2) 5.48 4.77 30-Jun 31-Dec 30-Jun-17 29.750 None

REIT - Retirement / Nursing Homes / Medical

110.00 EXE.DB.B Extendicare REIT [1] [6] [7] 6.00 9/30/2019 105.01 107.00 EXE 8.30 0.48 5.78% $11.25 8.889 73.78 45.0 19.2 5.61 4.68 31-Mar 30-Sep 01-Oct-15 14.062 01-Oct-17
40.25 NWH.DB Northwest Int'l Healthcare 5.25 9/30/2020 100.00 104.99 NWH.UN 9.93 0.80 8.06% $14.20 7.042 69.93 50.1 (91.3) 5.00 4.43 31-Mar 30-Sep 01-Oct-16 17.750 01-Oct-18
22.60 NWH.DB.A Northwest Int'l Healthcare 6.50 3/31/2018 102.02 108.90 NWH.UN 9.93 0.80 8.06% $13.70 7.299 72.48 50.2 55.2 5.97 4.36 31-Mar 30-Sep 31-Mar-16 17.125 31-Mar-17
17.50 NWH.DB.B Northwest Int'l Healthcare 6.50 9/30/2018 103.28 103.75 NWH.UN 9.93 0.80 8.06% $11.54 8.666 86.05 20.6 (40.9) 6.27 5.66 31-Mar 30-Sep 30-Sep-16 14.425 30-Sep-17
35.00 NWH.DB.C Northwest Int'l Healthcare 7.25 10/31/2019 104.00 105.90 NWH.UN 9.93 0.80 8.06% $12.50 8.000 79.44 33.3 31.1 6.85 6.11 30-Apr 31-Oct 31-Oct-18 15.625 31-Oct-18
46.00 SIA.DB Sienna Sr Living 4.65 6/30/2018 107.50 111.00 SIA 17.41 0.90 5.17% $16.75 5.970 103.94 6.8 (9.8) 4.19 2.25 30-Jun 31-Dec 30-Jun-16 20.937 30-Jun-17

REIT - Hotel
75.00 INN.DB.E Innvest REIT [1] [4] [5] [6] 6.00 9/30/2017 101.00 101.40 INN.UN 6.95 0.40 5.75% $8.00 12.500 86.88 16.7 14.5 5.92 5.62 31-Mar 30-Sept 30-Sep-13 10.000 30-Sep-15
50.00 INN.DB.F Innvest REIT [1] [4] [5] [6] 5.75 3/30/2018 101.00 101.35 INN.UN 6.95 0.40 5.75% $9.45 10.582 73.54 37.8 18.3 5.67 5.42 30-Mar 30-Sep 30-Mar-14 11.812 31-Mar-16
100.00 INN.DB.G Innvest REIT [1] [4] [5] [6] 6.25 3/31/2019 105.00 107.00 INN.UN 6.95 0.40 5.75% $7.50 13.333 92.67 15.5 15.5 5.84 4.83 31-Mar 30-Sep 01-Apr-16 9.375 01-Apr-18
18.00 LHR.DB.C Lakeview Hotel REIT [22] 7.50 6/30/2017 20.00 47.95 LHR 0.13 - - $5.55 18.018 2.25 2029.0 6.1 15.64 28.52 30-Jun 31-Dec 30-Jun-10 6.660 30-Jun-11
10.00 LHR.DB.D Lakeview Hotel REIT [22] 9.00 5/31/2018 25.00 43.50 LHR 0.13 - - $3.75 26.670 3.33 1204.8 4.5 20.69 29.14 31-May 30-Nov 31-May-11 5.620 31-May-12
60.00 HLC.DB Holloway Lodging [1] [5] [6] 7.50 9/30/2018 96.50 98.50 HLC 5.05 0.14 2.77% $25.00 4.000 20.20 387.6 11.3 7.61 7.85 31-Mar 30-Sep 17-Dec-14 31.250 30-Sep-18
60.00 HLC.DB.A Holloway Lodging [1] [5] [6] 6.25 2/28/2020 94.01 95.00 HLC 5.05 0.14 2.77% $25.00 4.000 20.20 370.3 13.1 6.58 7.20 30-Apr 31-Oct 17-Dec-14 31.252 28-Feb-20
23.00 TPH.DB.C Temple REIT 8.00 12/31/2016 96.00 98.50 TPH 1.18 - - $5.82 17.182 20.27 385.8 9.8 8.12 8.51 30-Jun 31-Dec 31-Dec-14 7.275 30-Dec-15
34.50 TPH.DB.D Temple REIT 7.75 6/30/2017 86.92 90.68 TPH 1.18 - - $7.04 14.205 16.76 441.0 9.5 8.55 10.68 30-Jun 31-Dec 30-Jun-15 8.800 30-Jun-16
46.00 TPH.DB.E Temple REIT 7.25 9/30/2017 83.00 86.00 TPH 1.18 - - $8.00 12.500 14.75 483.1 9.8 8.43 11.49 31-Mar 30-Sep 30-Sep-15 10.000 None

Real estate - Services

48.00 AIF.DB.A Altus Group Ltd/Canada 6.75 6/30/2017 211.22 250.00 AIF 21.14 0.60 2.84% $10.00 10.000 211.40 18.3 51.5 2.70 (18.54) 30-Jun 31-Dec 30-Jun-15 12.500 None
27.50 FC.DB.A Firm Capital Mort. [1] [4] [5] [6] 5.75 10/31/2017 100.65 100.90 FC 13.74 0.94 6.81% $15.90 6.289 86.42 16.8 (105.9) 5.70 5.51 30-Apr 31-Oct 31-Oct-13 19.875 31-Oct-14
28.88 FC.DB.B Firm Capital Mort. [1] [4] [5] [6] 5.40 2/28/2019 100.20 101.00 FC 13.74 0.94 6.81% $14.35 6.969 95.75 5.5 (4.7) 5.35 5.19 28-Feb 31-Aug 31-Aug-14 17.938 28-Feb-16
20.49 FC.DB.C Firm Capital Mort. 5.25 3/31/2019 100.00 100.50 FC 13.74 0.94 6.81% $14.80 6.757 92.84 8.3 (7.1) 5.22 5.15 30-Sep 31-Mar 31-Mar-15 18.500 31-Mar-16
75.00 TCN.DB.A Tricon Capital Group Inc. 5.60 3/31/2020 110.00 114.00 TCN 9.00 0.26 2.89% $9.80 10.204 91.84 24.1 7.5 4.91 3.25 31-Mar 30-Sep 31-Mar-16 12.250 31-Mar-18

CIBC Convertible Debenture Report 3 of 4

 Convertible Debenture Underlying Security Conversion Yields Payment Call Feature
Size Coupon Shares / Premium Cashflow Current YTM Soft Trigger / Hard
Symbol Issue Maturity Bid Ask Symbol Bid Div Yield Price Parity Dates
($M) (%) $100 (%) Payback (%) (%) Call Conv. Price Call

Miscellaneous
40.25 AHF.DB Aston Hill Financial [1] [4] [5] [9] 6.50 1/31/2019 56.05 59.25 AHF 0.13 - - $0.65 153.846 19.23 208.1 6.2 10.97 17.61 31-Jan 31-Jul 31-Jul-14 0.813 31-Jul-15
32.50 AI.DB Atrium Mortgage Inv Corp 5.25 6/30/2020 100.00 102.00 AI 11.95 0.86 7.20% $13.50 7.407 88.52 15.2 (12.0) 5.15 4.91 30-Jun 31-Dec 30-Jun-16 16.875 30-Jun-18
30.00 AI.DB.A Atrium Mortgage Inv Corp 6.25 3/31/2019 102.00 104.25 AI 11.95 0.86 7.20% $13.30 7.519 89.85 16.0 (66.6) 6.00 5.37 31-Mar 30-Sep 31-Mar-17 16.625 31-Mar-18
1000.00 BB.DB.U Blackberry 6.00 11/13/2020 103.50 104.50 BB 8.75 - - $10.00 10.000 87.50 19.4 2.8 5.74 5.26 13-Nov 31-May None 12.500 Call Sched*
74.00 CJT.DB.B Cargojet Inc 5.50 6/30/2019 123.00 131.08 CJT 34.71 0.60 1.72% $28.75 3.478 120.73 8.6 3.0 4.20 0.14 30-Jun 31-Dec 30-Jun-17 35.937 30-Jun-18
20.00 CHW.DB Chesswod Group Ltd. 6.50 12/31/2018 100.51 101.60 CHW 9.93 0.78 7.85% $20.19 4.953 49.18 106.6 19.9 6.40 6.15 30-Jun 31-Dec 31-Dec-16 25.238 31-Dec-17
25.00 CHH.NT Centric Health 6.75 10/31/2017 75.00 79.00 CHH 0.20 - - $1.12 89.286 17.41 353.7 9.1 8.54 13.18 30-Apr 31-Oct 31-Oct-15 1.400 31-Oct-16
100.00 CGX.DB.A Cineplex 4.50 12/31/2018 106.00 110.00 CGX 51.68 1.62 3.13% $56.00 1.786 92.29 19.2 11.0 4.09 2.50 30-Jun 31-Dec 31-Dec-16 70.000 31-Dec-17
230.00 DH.DB Davis + Henderson 6.00 9/30/2018 114.75 123.00 DH 32.61 1.28 3.93% $28.90 3.460 112.84 9.0 6.5 4.88 1.32 31-Mar 30-Sep 30-Sep-16 36.125 30-Sep-17
50.00 GCL.DB.A Colabor Group [1] [4] [5] [7] [9] 5.70 4/30/2017 42.25 45.78 GCL 0.85 - - $16.85 5.935 5.04 807.5 7.1 12.45 28.14 30-Apr 31-Oct 30-Apr-15 21.063 30-Apr-16
30.00 DA.DB.A Discovery Air [1] [5] [7] [9] 8.38 6/30/2018 34.00 35.00 DA.A 0.21 - - $5.07 19.714 4.04 766.1 3.7 23.93 32.36 30-Jun 31-Dec 30-Jun-14 6.341 None
345.00 EFN.DB Element Financial 5.13 6/30/2019 110.00 113.00 EFN 14.36 0.10 0.70% $17.85 5.602 80.45 40.5 7.1 4.54 2.72 30-Jun 31-Dec 30-Jun-17 22.313 None
575.00 EFN.DB.A Element Financial 4.25 6/30/2020 102.00 102.50 EFN 14.36 0.10 0.70% $23.80 4.202 60.34 69.9 11.0 4.15 3.84 31-Dec 30-Jun 30-Jun-20 29.750 None
25.00 ECI.DB EnerCare Inc. [1] [4] [5] [6] 6.25 6/30/2017 250.01 269.00 ECI 17.18 0.92 5.38% $6.48 15.432 265.12 1.5 (0.5) 2.32 (20.54) 30-Jun 31-Dec 30-Jun-13 8.100 30-Jun-15
40.00 IBG.DB IBI Group Inc. [1] [4] [5] [6] 7.00 6/30/2019 104.00 107.98 IBG 5.15 - - $5.00 20.000 103.00 4.8 0.7 6.48 5.41 31-Mar 30-Sep 30-Sep-12 6.250 30-Jul-13
57.50 IBG.DB.B IBI Group Inc. [1] [4] [5] [6] [9] 6.00 6/30/2018 94.51 95.00 IBG 5.15 - - $21.00 4.762 24.52 287.4 11.7 6.32 7.22 30-Jun 31-Dec 30-Jun-14 26.250 30-Jun-16
67.50 LIQ.DB.A Liquor Stores N.A. Ltd 5.85 4/30/2018 102.00 103.00 LIQ 9.15 0.36 3.93% $24.90 4.016 36.75 180.3 15.0 5.68 5.13 31-Oct 30-Apr 30-Apr-15 31.125 30-Apr-17
65.00 NFI.DB.U New Flyer Industries [19] 6.25 6/30/2017 290.00 305.00 NFI 38.55 0.95 2.46% $10.00 10.000 385.50 (20.9) 24.8 2.05 (23.36) 31-Dec 30-Jun 30-Jun-15 12.500 None
50.00 PBH.DB.C Premium Brands Holdings 5.50 6/30/2019 191.75 193.50 PBH 56.45 1.52 2.69% $29.25 3.419 192.99 0.3 1.7 2.84 (7.19) 30-Jun 31-Dec 30-Jun-16 36.563 30-Jun-18
69.00 PBH.DB.D Premium Brands Holdings 5.00 4/30/2020 118.01 134.50 PBH 56.45 1.52 2.69% $44.65 2.240 126.43 6.4 5.1 3.72 (0.15) 31-Oct 30-Apr 30-Apr-18 55.813 30-Apr-19
50.00 RSI.DB.C Rogers Sugar Inc. [1] [4] [5] [6] 5.70 4/30/2017 102.50 103.00 RSI 5.95 0.36 6.05% $6.50 15.385 91.54 12.5 71.0 5.53 4.81 30-Apr 31-Oct 30-Apr-13 8.125 30-Apr-15
60.00 RSI.DB.D Rogers Sugar Inc. [1] [4] [5] [7] [9] 5.75 12/31/2018 104.25 106.00 RSI 5.95 0.36 6.05% $7.20 13.889 82.64 28.3 31.1 5.42 4.49 30-Jun 31-Dec 31-Dec-14 9.000 31-Dec-16
9.20 RUM.DB Rocky Mountain Liquor Inc 7.50 4/30/2021 80.00 83.00 RUM 0.10 - - $0.25 400.000 40.00 107.5 5.7 9.04 10.62 31-Oct 30-Apr None 0.313 30-Apr-14
60.00 STB.DB.U Student Transportation [1] [4] [5] [6] [9] [19] 6.25 6/30/2018 99.75 99.84 STB 6.89 0.44 6.39% $9.50 10.526 72.53 37.7 16.9 6.26 6.29 30-Jun 31-Dec 30-Jun-14 11.875 30-Jun-16
75.00 STB.DB.C Student Transportation 6.25 6/30/2019 105.00 106.00 STB 6.89 0.44 6.39% $9.05 11.050 76.13 39.2 21.5 5.90 5.07 30-Jun 31-Dec 30-Jun-17 11.312 30-Jun-18
60.00 VNP.DB 5N Plus Inc 5.75 6/30/2019 85.50 87.50 VNP 2.00 - - $6.75 14.815 29.63 195.3 10.1 6.57 8.42 30-Jun 31-Dec 30-Jun-17 8.438 30-Jun-18
51.75 WEQ.DB WesternOne Equity [1] [4] [5] [6] 6.25 6/30/2020 72.01 74.85 WEQ 0.16 - - $11.75 8.511 1.32 5574.1 11.8 8.35 11.36 30-Jun 31-Dec 30-Jun-16 14.687 30-Jun-18
86.25 WEQ.DB.C WesternOne Equity [1] [4] [5] [6] 8.00 6/30/2018 54.60 58.99 WEQ 0.16 - - $7.50 133.333 20.67 185.4 4.8 13.56 20.75 30-Jun 31-Dec 30-Jun-14 9.375 30-Jun-16
107.50 YPG.DB Yellow Media 8.00 11/30/2022 107.51 115.00 Y 18.78 - - $19.04 52.520 986.33 (88.3) (108.9) 6.96 5.93 31-May 30-Nov None 23.800 20-Dec-12

Footnotes
* Please refer to call schedule in prospectus
[1] At maturity or redemption: Cash or stock at 95% of the weighted average trading price of shares.
[2] At maturity or redemption: Cash or stock at 97% of the weighted average trading price of the shares.
[3] At maturity or redemption: Cash or stock at the weighted average or at the market price on the date fixed for redemption.
[4] Interest may be paid in stock / paid from the proceeds of stock sales
[5] Accrued interest paid if converted.
[5*] Accrued interest paid if converted but only if there has been a notice of redemption.
[6] Upon change of control, issuer may purchase debentures @ $101.00 plus accrued.
[7] Upon change of control, issuer may purchase debentures @ $100.00 plus accrued.
[8] Upon change of control, issuer may purchase debentures @ $105.00 plus accrued.
[9] Upon change of control and under certain conditions, such as cash consideration, holder may convert at a favourable adjusted conversion price.
[10] Redemption price 105.00 from first call date to second call date. Redemption price 102.50 from second call date maturity unless listed below.
Exceptions:
EQU.DB.B -- redemption price 100.00 from first call date to maturity
RUS.DB -- redemption price 100.00 from first call date to maturity
TIL.DB -- redemption price 100.00 from first call date to maturity
BTB.DB.B -- redemption price = 1.25x conversion price from second call date to maturity
[11] Accrued interest paid up to the last record date for distributions on the underlying units.
[12] Interest based on a 360 days per year.
[13] In the event of certain changes in tax law regarding withholding tax, the company may redeem the convertible @ 100% of the principal amount plus accrued interest.
[15] Cannot be converted during the 5 business days preceding and including the coupon dates.
[16] Interest paid quarterly
[17] Puttable at par plus accrued on June 1 2010, June 1 2015, June 1 2020, June 1 2025, and June 1 2030
[19] US dollar denominated.
[21] Convertible to common shares (or units) plus another security such as notes or contingency value receipts.
[22] See company reports for special terms and call features.
[23] Upon conversion the issuer may elect to deliver cash instead of stock

CIBC Convertible Debenture Report 4 of 4

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 Convertible Debenture Report - July 11, 2016
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 Convertible Debenture Report - July 11, 2016
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