TSXV Passport Listing Process

A VENTURE FORWARD INITIATIVE

TSXV Passport Listing Process

TSX Venture Exchange (“TSXV”) launched in June 2022 with the aim of strengthening Canada’s vibrant and vital public venture ecosystem by identifying priority challenges and opportunities, and developing a comprehensive action plan to achieve sustainable, long-term success.

Following an in-depth, year-long consultation process, TSXV produced a comprehensive report in June 2023 that outlines our commitments to innovation and growth, and to clearing a path for new companies and investors to enter our ecosystem.

These measures are focused on:

IncreasingEfficiencies

AcceleratingTransaction Timelines

Reducing Costsfor Issuers

Launching the TSXV Passport Listing Process

TSXV Passport Listing Process (“TSXV Passport”) is a response to the evolving dynamics of the market, aimed at creating faster pathways for entrepreneurs to go public, raise capital, and achieve liquidity while upholding TSXV listing standards. TSXV Passport is an innovative approach designed to fast-track the listing of advanced applicants meeting specified criteria.

TSXV Passport Listing Process

1 Step 1 - Pre-File Letter and Meeting: An applicant seeking to list on TSXV via TSXV Passport must provide a pre-file letter with detailed analysis evidencing its ability to meet the passport eligibility criteria. As part of the process to determine eligibility, a pre-filing meeting with TSXV is required for any TSXV Passport applicant. Within 3 business days of the pre-filing meeting, TSXV will confirm the applicant is eligible to make an application through TSXV Passport.

2 Step 2 - Application: A TSXV Passport application consists of the same documents as all other listing applications, including a detailed submission letter requesting that the application be reviewed via the TSXV Passport process, together with a discussion of relevant eligibility criteria. TSXV Passport applications need to be at an advanced stage of due diligence and file readiness, with all documents prepared early in the process pursuant to the TSXV Passport filing requirements. Applications via TSXV Passport will be subject to standard listing fees, as set out in the TSXV Corporate Finance Manual.

3 Step 3 - Review: Subsequent to receipt of all filing requirements pursuant to TSXV Passport, TSXV will provide a first comment letter on an expedited basis. Concurrent with the delivery of the initial comment letter, TSXV will schedule a meeting with the working group to discuss those comments, and will schedule regular ongoing status update meetings. TSXV commits to timely availability of review staff and a degree of responsiveness consistent with the objectives of TSXV Passport. From time to time, applicants that have prolonged response times to TSXV staff, or material challenges in meeting TSXV listing requirements, may have their continued eligibility for TSXV Passport reviewed.

Summary

The TSXV Passport Listing Process is now available, offering advanced applicants an expedited route to listing while maintaining listing standards. TSXV remains committed to providing a positive and efficient listing experience for all applicants, ensuring that the market continues to evolve and adapt to the changing dynamics. We are dedicated to supporting the growth and success of all companies looking to join our exchange.

For more information about TSXV Passport, please contact:

Charlotte Bell

Senior Policy Counsel

604-643-6577��

charlotte.bell@tmx.com

Tim Babcock

Vice President and Head of TSX Venture Exchange

672-971-2587

tim.babcock@tmx.com

Kyle Araki

Managing Director, TSXV Listings (Calgary)

403-218-2851