SLIDE 17 – 17 –
FORWARD-LOOKING INFORMATION This presentation, including oral statements made by LS EG and TMX or our representatives, contains “ forward-looking information” (including as defined in applicable Canadian securit ies legislation). This information is based on the current expectations, assumptions, proj ections and estimates that the management of LS EG and TMX believe to be relevant as of the date of t his presentation. This information is naturally subj ect to uncertainty and changes in circumstances. The forward-looking information contained in this presentation includes statements relating to the expected effects of the merger on LS EG and TMX and/ or the merged group such as information relat ed to the anticipated effect on financial performance, growth opportunities, expected dividend policy, anticipated revenue and cost synergies, business st rategies and the development of new product s and services, the expected timing and scope of t he merger, and other statements other t han historical fact s. Forward-looking information includes statements typically containing words such as “ will” , “ may” , “ should” , “ believe” , “ int ends” , “ expects” , “ anticipates” , “ targets” , “ estimates” and words of similar import,
- r variations or the negatives of such words. Although LS
EG and TMX believe that the expect ations, assumptions, proj ections and estimates reflect ed in such forward-looking information are reasonable, LS EG and TMX can give no assurance that such expectations, assumptions, proj ections and estimates will prove to be correct. By its nature, forward-looking information involves risk and uncertainty because it relates to events and depends on circumstances t hat will occur in t he fut ure. There are a number of factors that could cause actual result s and developments to differ materially from those expressed or implied by such forward looking information. These factors include the satisfaction of t he conditions to the merger and regulatory requirement s, as well as additional factors, such as: future levels of revenues being lower t han expected; conditions affecting the industry; local and global political and economic conditions; unforeseen fluctuations in trading volumes; competition from other exchanges or marketplaces; changes in t rading syst ems commonly relied upon by market part icipants; foreign exchange rate fluct uations and interest rate fluctuations (including those from any potential credit rating decline); legal or regulatory developments and changes; the outcome of any litigation; t he impact of any acquisitions or similar transactions; competitive product s and pricing pressures; success of business and operat ing initiatives; failure to retain and attract qualified personnel; failure to implement strategies; whether internationally or in t he places LS EG or TMX or any of their respective affiliated companies do business, or the merged group will do business are less favourable than expect ed; and/ or conditions in the securities market are less favourable than expected and changes in the level of capital investment. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking information. Given these risks and uncertainties, investors should not place undue reliance on forward-looking information as a prediction of actual result s. Neither LS EG nor TMX nor any of t heir respective affiliated companies undertakes any obligation to update or revise forward-looking information, whet her as a result of new information, future events or otherwise, except to the extent legally required. INTELLECTUAL PROPERTY AIM, London S tock Exchange, the London S tock Exchange coat of arms device are registered t rade marks of London S tock Exchange plc. Main Market is a trade mark of London S tock Exchange plc. Borsa Italiana, the Borsa Italiana logo and IDEM are regist ered t rade marks of Borsa Italiana S .p.A., MOT and IDEX are deposit ed trade marks of Borsa Italiana S.p.A. CC&G is a regist ered trade mark of Cassa di Compensazione e Garanzia S .p.A. Monte Titoli S .p.A. is a registered trade mark of Monte Titoli S .p.A. BondVision and MTS are registered t rade marks of Mercato dei Tit oli di S tato S.p.A. FTS E is a regist ered trade mark of London S tock Exchange plc and The Financial Times Limited and is used by FTS E Int ernational Limited under license. EDX and EDX London are registered trade marks of EDX London Limited. MillenniumIT is a registered trade mark of Millennium Information Technologies Limited. Turquoise is a registered trade mark of Turquoise Trading Limited. TMX, the TMX design, TMX Group, TMX Datalinx, Toronto S tock Exchange, TS X Venture Exchange, NGX, TS X Quantum, the TS X Quantum design, PC-Bond, and t he PC-Bond design are t rade-marks of TS X Inc. MX, S OLA, Montréal Exchange and their respective designs are registered t rade-marks of Bourse de Montréal Inc. Equicom is a trade-mark of The Equicom Group Inc. S horcan and Shorcan Energy Brokers are trade- marks of S horcan Brokers Limited. CDCC and the CDCC design are registered t rade-marks of Canadian Derivatives Clearing Corporat ion. BOX and the BOX design are t rade-marks of Boston Options Exchange Group, LLC.
