The document summarizes a Canadian fund called the Greening Canada Fund that invests in community projects to generate carbon offsets. It is a limited partnership open to Canadian investors that is run along non-profit lines. It provides value to companies by enabling reputational improvement through public recognition of community projects and addressing customer expectations of corporate social responsibility. The fund benefits society by reducing carbon emissions and investing in green technology projects in both public and private sectors like schools and hospitals.

1. Voluntary Trading & CSR — A Canadian Example Carbon TradeEx America September 28, 2010 Patricia A. Koval Partner, Torys LLP Co-Chair, Climate Change & Emissions Trading Group [email_address] 11346251.1

6. Investor Comments “ What makes the Greening Canada Fund so attractive is that the beneficiaries are located in communities across the country . Bringing local green projects to life will show Canadians how we can make a measurable difference in reducing emissions in our neighbourhoods – it makes the carbon story real.” Karen Clarke-Whistler Chief Environment Officer “ BMO is proud to be one of the initial investors in the Greening Canada Fund. Our customers expect us to lead by example. Investing in this unique fund complements the efforts we are already making to achieve absolute reductions in our carbon emissions and use renewable energy – helping us achieve our commitment to reach carbon neutrality next year.” Cam Fowler Head of Strategy and Corporate Marketing

8. www.torys.com Toronto New York 416.865.0040 212.880.6000