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CDS CLEARING AND DEPOSITORY SERVICES INC.

MATERIAL AMENDMENTS TO CDS PROCEDURES

METHODOLOGY ENHANCEMENT TO TRAX ENTITLEMENTS TRACKING SYSTEM AND FEE INCREASE

NOTICE OF COMMISSION APPROVAL

In accordance with the Rule Protocol between the Ontario Securities Commission (Commission) and CDS Clearing and Depository Services Inc. (CDS), the Commission approved on December 16, 2014, the daily subscription fee increase for the TRAX Entitlements Tracking System.

A copy of the CDS notice was published for comment on October 30, 2014 on the Commission’s website at: http://www.osc.gov.on.ca. No comments were received.