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SCHEDULE IV

(s. 14)

ASSUMPTIONS

Actuarial assumptions

(1) Interest rates:

The interest rates are those determined in accordance with section 3500 of the Standards of Practice of the Canadian Institute of Actuaries concerning pension commuted values in force on 1 February 2022, hereafter called the “CIA Standard”. The result must be rounded to the nearest multiple of 0.10%.

(2) Indexing rate:

(a) for a fully-indexed benefit according to the rate of increase in the pension index, the indexing rate is computed in the manner described in the CIA Standard;

(b) for a benefit indexed according to the excess of the rate of increase in the pension index (PI) over 3% or to half of the rate of increase in the pension index, the indexing rate corresponds respectively to the excess of the indexing rate computed in the manner provided in subparagraph a over 3% or to half the indexing rate computed in the manner provided in that subparagraph.

In order to take into account the inflation rate variations, the following additions are made to the results of effective indexing formulas for actuarial value computation purposes.

Inflation level | Addition to the result of the PI-3% formula | Adjusted indexing rate | Addition to the result of the 50% PI, min. PI-3% formula | Adjusted indexing rate |

0 | 0.00 | 0.00 | 0.20 | 0.20 |

0.5 | 0.00 | 0.00 | 0.10 | 0.35 |

1.0 | 0.00 | 0.00 | 0.05 | 0.55 |

1.5 | 0.05 | 0.05 | 0.00 | 0.75 |

2.0 | 0.10 | 0.10 | 0.00 | 1.00 |

2.5 | 0.20 | 0.20 | 0.00 | 1.25 |

3.0 | 0.40 | 0.40 | 0.00 | 1.50 |

3.5 | 0.20 | 0.70 | 0.00 | 1.75 |

4.0 | 0.10 | 1.10 | 0.00 | 2.00 |

4.5 | 0.05 | 1.55 | 0.00 | 2.25 |

The result must be rounded to the nearest multiple of 0.10%.

The economic assumptions are established based on the rates and returns of bond indexes, as described in the CIA Standard, applicable to the second calendar month preceding the month in which the valuation took place, rather than those applicable to the preceding month.

SCHEDULE IV

(s. 14)

ASSUMPTIONS

Actuarial assumptions

(1) Rate of interest:

For fully-indexed and non-indexed benefits:

The interest rates are those determined in accordance with the Standard of Practice for Determining Pension Commuted Values confirmed by the board of directors of the Canadian Institute of Actuaries on 15 June 2004, hereafter called the “CIA Standard”.

For partially indexed benefits:

The interest rates are determined according to the following formula:

((1 + interest rate for a non-indexed benefit) / (1 + indexing rate for a partially-indexed benefit)) - 1

The result must be rounded to the nearest multiple of 0.25%.

(2) Indexing rate:

(a) for a fully-indexed benefit according to the rate of increase in the pension index, the indexing rate is computed in the manner described in the CIA Standard;

(b) for a benefit indexed according to the excess of the rate of increase in the pension index (PI) over 3% or to half of the rate of increase in the pension index, the indexing rate corresponds respectively to the excess of the indexing rate computed in the manner provided in subparagraph a over 3% or to half the indexing rate computed in the manner provided in that subparagraph.

In order to take into account the inflation rate variations, the following additions are made to the results of effective indexing formulas for actuarial value computation purposes.

Inflation Addition to Adjusted Addition to Adjusted

level the result of indexing the result of indexing

the PI-3% rate the 50% PI, rate

formula min. PI-3%

formula

0.5 0.1 0.1 0.05 0.3

1.0 0.1 0.1 0.10 0.6

1.5 0.3 0.3 0.15 0.9

2.0 0.5 0.5 0.20 1.2

2.5 0.7 0.7 0.15 1.4

3.0 1.0 1.0 0.20 1.7

3.5 0.8 1.3 0.25 2.0

4.0 0.6 1.6 0.30 2.3

4.5 0.5 2.0 0.45 2.7

5.0 0.4 2.4 0.50 3.0