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Applicable Market Value of Subordinate Voting Shares Settlement Rate Value of Shares Delivered Less than the reference price 2.6316 subordinate voting shares Less than US$50.00 Less than or equal to the threshold appreciation price but greater than or equal to the reference price A number of subordinate voting shares equal to US$50.00 divided by the applicable market value US$50.00 Greater than the threshold appreciation price 2.1930 subordinate voting shares Greater than US$50.00 Early settlement Preliminary steps In connection with, and prior to, the closing of the Concurrent Offering, Holdings will amalgamate with GFL, a wholly owned subsidiary of Holdings, and continue as GFL Environmental Inc. In connection with such amalgamation: Certain of the shareholders will subscribe for additional shares of Holdings at the offering price in the Concurrent Offering (using, in part, the proceeds of a margin loan made by dealer affiliates), the proceeds of which, together with a loan from the Dovigi Group for $29 million, payable in equal semi-annual instalments over five years and bearing market interest, will be used to repay in full the PIK Notes of $1B owing by Holdings; the shares being sold by the selling shareholder in the Concurrent Offering will be acquired as a result of such subscriptions; the share capital will be amended such that it will be composed of an unlimited number of multiple voting shares, an unlimited number of subordinate voting shares and an unlimited number of preferred shares, issuable in series; in connection with his resignation as an officer of GFL, Ven Poole will receive a separation payment of 73,947 subordinate voting shares issued at the initial public offering price in the amount of approximately US$1.4 million; the outstanding options will vest and convert into an aggregate of 3,202,956 subordinate voting shares; and all of the issued and outstanding shares of Holdings will be exchanged for subordinate voting shares and multiple voting shares based on an exchange ratio of 20.363259-for-one, other than the Class F shares of Holdings which will be exchanged for multiple voting shares, based on an exchange ratio of 26.343032-for-one. ...

In this connection Anderson and New Anderson will jointly elect under ITA s. 85(1) with an agreed amount as designated by New Anderson subject to Anderson comments, and will also jointly elect to have ITA s. 66.7(7)(e) apply, and the stated capital of the New Anderson common shares so issued will be equal to the s. 85(2.1) limit. ...

"The Offeror currently intends (x) that the consideration offered per Inmet Share under any Subsequent Acquisition Transaction proposed by it would be equal in value to and in the same form as the consideration paid to Shareholders under the Offer, (y) that such Subsequent Acquisition Transaction will be completed no later than 120 days after the Expiry Date and (z) to cause any Inmet Shares acquired under the Offer to be voted in favour of any such transaction and, where permitted by MI 61-101 to be counted as part of any Minority Approval required in connection with any such transaction. ...

On or before the date of the Continuation, the Fund will distribute an amount to unitholders that would be sufficient to result in the Fund not being subject to tax if it earned no further income and realized no further capital gains or losses in its taxation year in which the Continuation occurs (taking into account amounts already distributed in 2014, and capital gains refunds that may arise for redemptions that occur in connection with the Continuation). ...

DeeThree/Boulder/Granite Oil-- summary under Butterfly spin-offs Summary Under Tax Topics- Public Transactions- Spin-Offs & Distributions- Butterfly spin-offs Butterfly spin-off by DeeThree Exploration of Boulder Energy Overview Under an Alberta Plan of Arrangement, DeeThree will transfer its Brazeau Belly River assets (the "Spin-Off Assets") on a rollover basis to Boulder in connection with a butterfly spin-off of Boulder to its shareholders. ...

The Corporation will not be obligated to participate in any Pre-Acquisition Reorganization unless the Corporation determines in good faith that such Pre-Acquisition Reorganization: can be completed prior to the Effective Date, and can be reversed or unwound in the event the Arrangement does not become effective without adversely affecting the Corporation, any of its Subsidiaries, the Corporation Securityholders or holders of Debentures; is not prejudicial to the Corporation, any of its Subsidiaries, the Corporation Securityholders or holders of Debentures; and does not require the Corporation or its Subsidiaries to take any action that could reasonably be expected to result in Taxes being imposed on, or any adverse Tax or other consequences to, any Corporation Securityholders or holders of Debentures incrementally greater than the Taxes or other consequences to such party in connection with the completion of the Arrangement in the absence of such action being taken. ...

The Corporation will not be obligated to participate in any Pre-Acquisition Reorganization unless the Corporation determines in good faith that such Pre-Acquisition Reorganization: can be completed prior to the Effective Date, and can be reversed or unwound in the event the Arrangement does not become effective without adversely affecting the Corporation, any of its Subsidiaries, the Corporation Securityholders or holders of Debentures; is not prejudicial to the Corporation, any of its Subsidiaries, the Corporation Securityholders or holders of Debentures; and does not require the Corporation or its Subsidiaries to take any action that could reasonably be expected to result in Taxes being imposed on, or any adverse Tax or other consequences to, any Corporation Securityholders or holders of Debentures incrementally greater than the Taxes or other consequences to such party in connection with the completion of the Arrangement in the absence of such action being taken. ...

New Endo will be re-registered as a public limited company in connection with the Arrangement. ... Irish tax consequences Shareholders who are not resident in Ireland and do not hod their shares in connection with an Irish trade will not be subject to Irish tax on chargeable gains. ...