1. CAPE FUND Socially Responsible Investing in Canadian Aboriginal Business Building Assets in Native North America PRI MAKERS CONFERENCE SEATTLE, MAY 2012

2. Background and Overlaying Objectives  $50 Million Private Equity Investment Fund to: Encourage Aboriginal Entrepreneurship Build Aboriginal Business Encourage Aboriginal Ownership and Control of Business Increase the Participation Rate and Capacity of Aboriginal persons in the management of these businesses.  It’s all about Capital and Capacity 2

3. Investment Philosophy and Criteria  The Fund will invest from $1 million to $7.5 million in any one business over a 5 to 7 year hold period leading to a reasonable risk adjusted financial return + social return.  CAPE is an “active” investor. Proper corporate governance is a must.  Open to all First Nations, Metis and Inuit groups, and individuals nationally, both on and off reserve. 3

4. Sample Investments  One Earth Farms  Coastal Shellfish  Manitobah Mukluks 4

5. Key Observations - Lessons Learned Opportunities exist nationally in Canada in a broad range of industries. Opportunities arise, inter alia, out of Impact Benefit Agreements (IBAs), preferential procurement policies, resource ownership and increased awareness of corporate and social responsibility. Opportunities are “revolutionary.” Capacity building is “evolutionary.” Majority of opportunities reviewed are early stage / start up. Building of relationships based on trust is critical in dealing with Aboriginal people. This takes time. 5

6. Key Observations - Cont’d Education on equity funding vs. bank funding can be a challenge. Access to Capital vs. Access to Money. Easier to deal with an Individual vs. a Community even when an Ec. Dev. Corp has been set up (separate business from politics). In the event of business failure or serious challenge, assignment of blame is often dominant response from Aboriginal communities over business analysis & determination of corrective action (if possible). Long lead times to actual transaction. Patience is required. 6