Date Closed

June 12, 2012

Lead Office

Montréal

Value

20.00 Million CAD

On June 12, 2012, B2B Trust, a subsidiary of Laurentian Bank ("the Bank"), acquired 100% of AGF Trust Company ("AGF Trust") in a share purchase transaction for C$242 million.

In order to maintain its capital ratios, the Bank has entered into arm's length subscription agreements relating to a private placement of 2,867,383 subscription receipts for an amount before fees of $100 million with the Caisse de dépôt et placement du Québec and for an amount before fees of C$20 million with Fonds de solidarité FTQ. The subscription receipts will be issued at a price of C$41.85 per receipt and will be exchangeable, on a one-for-one basis, for common shares of the Bank. The offering of subscription receipts is expected to close, subject to the approval of the Toronto Stock Exchange, no later than June 15, 2012, and the proceeds of such offering will be placed in escrow until closing of the AGF Trust acquisition, at which point the subscription receipts will be automatically exchanged for common shares of the Bank. If the closing of the AGF Trust acquisition does not occur at the latest on December 31, 2012, the proceeds of the private placement will be returned to the subscribers.

Fonds de Solid. des Trav. du Québec, headquartered in Montréal, Québec, is a development capital organization whose overriding mission is to invest in local businesses to further the economic development of all the regions of Québec.

McCarthy Tétrault LLP represented Fonds de Solid. des Trav. du Québec, with a team led by Patrick Boucher.