DBRS Provisionally Rates Laurentian Bank’s Non-Viability Contingent Capital Preferred Shares Pfd-3 (low), Positive

DBRS has today provisionally rated Laurentian Bank of Canada’s (the Bank) Non-Cumulative Class A Preferred Shares, Series 13 (NVCC Preferred Shares Series 13 or Series 13) at Pfd-3 (low) with a Positive trend.

DBRS assigned the NVCC Preferred Shares Series 13 a rating equal to that Bank’s intrinsic assessment less four rating notches because the Series 13 has only an Office of the Superintendent of Financial Institutions (OSFI)-compliant non-viable contingent capital (NVCC) trigger, which is consistent with the OSFI requirements for NVCC instruments, and no additional triggers.

The rating is consistent with DBRS’s criteria, titled, “DBRS Criteria: Rating Bank Capital Securities – Subordinated, Hybrid, Preferred & Contingent Capital Securities.”

For more information on DBRS’s methodologies and criteria or the banking industry, visit www.dbrs.com or contact us at info@dbrs.com.

Notes:

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The applicable methodology is DBRS Criteria: Rating Bank Capital Securities – Subordinated, Hybrid, Preferred & Contingent Capital Securities (December 2013), which can be found on our website under Methodologies.