30 Appendix A – Performance Guidelines The table below sets out the minimum service levels and maximum bids for assigned securities by category. Category New Securities Existing Securities Max Spread Goal* Min % of Time TSX at NBBO** Min TOB Size*** (lesser of …) Min Liquidity Factor Min % of time with Opening Presence 1 Market Cap > 3 billion S&P 60 or any security with ADV > 10 M (A1 & A2) 1% of NLSP at the time of bidding 90% 25 board lots or $25,000 in value 90% 95% 2 Market Cap >$1 billion to $3 billion S&P Completion or any security with ADV > $1 M (A3) 3% of NLSP at the time of bidding 90% 10 board lots or $20,000 in value 90% 95% 3 Market Cap >$500 million to $1 billion All remaining securities (B1-B5) 15% of NLSP at the time of bidding 75% 6 board lots or $10,000 in value 90% 95% 4 Market Cap >$50 million to $500 million All remaining securities (B5+ & >=$0.10) 30% of NLSP at the time of bidding 75% 2 board lots or $5,000 in value 90% 95% 5 Market Cap $0 to $50 million All remaining securities (B5+ & <$0.10) $0.095 75% 2 board lots or $1,000 in value 90% 95% 6 n/a - assigned along with the root Secondary issues (warrants, rights, etc.) & TSX discretion - 75% 2 board lots or $1 in value - -
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