Notice of Approval – Market on Open Auction - TSX Inc.

Introduction

In accordance with the Process for the Review and Approval of Rules and the Information Contained in Form 21-101F1 and the Exhibits thereto for recognized exchanges, TSX Inc. (“TSX”) has adopted, and the Ontario Securities Commission has approved, certain amendments to the Toronto Stock Exchange Rule Book (the “TSX Rules”) regarding certain proposed enhancements to the Market on Open auction (“MOO”) as set out in the Notice of Proposed Amendments and Request for Comment (the “Request for Comments”) published by TSX (the “Amendments”).

Capitalized terms used and not otherwise defined in the Notice of Approval shall have the meaning ascribed to them in the Request for Comments.

Summary of the Amendments

A copy of the Amendments can be found at www.osc.ca.

Comments Received

On July 3, 2025, TSX published the Request for Comments and two comment letters were received. A summary of the comment letters received, together with TSX’s responses, is attached as Appendix A. TSX thanks all commenters for their feedback and suggestions.

Effective Date

The Amendments will be effective in Q4 2025.