Corporate Governance

Statement of Corporate Governance Practices
Independence of Directors
Resolution of Conflicts
Board of Directors
Committee Membership
Board and Committee Mandates
Director Affiliations and Attendance
Chairmen and Co-CEOs' Position Descriptions
Orientation and Continuing Education
Ethical Business Conduct
Nomination and Assessment of Directors
Compensation Committee

Committee Membership

The Audit Committee, the Related Party and Conduct Review Committee, and the Compensation Committee are composed entirely of Directors who are independent in the Board’s view and within the meaning of the Instruments.

The Executive Committee and the Governance and Nominating Committee include Directors who are independent in the Board’s view and within the meaning of the Instruments.

(Source: March 2012 Management Proxy Circular)

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Percentages denote equity interest as at December 31, 2011 unless otherwise noted.

[1] Through its wholly owned subsidiary, Power Financial Europe B.V., Power Financial held a 50% interest in Parjointco. Parjointco held a voting interest of 76.0% and an equity interest of 56.5% in Pargesa.

[2] Together, 65% direct and indirect voting interest.

[3] Denotes voting interest.