<SEC-DOCUMENT>0001171843-21-002620.txt : 20210421
<SEC-HEADER>0001171843-21-002620.hdr.sgml : 20210421
<ACCEPTANCE-DATETIME>20210421170028
ACCESSION NUMBER:		0001171843-21-002620
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20210421
FILED AS OF DATE:		20210421
DATE AS OF CHANGE:		20210421

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Colliers International Group Inc.
		CENTRAL INDEX KEY:			0000913353
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE [6500]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36898
		FILM NUMBER:		21842317

	BUSINESS ADDRESS:	
		STREET 1:		1140 BAY STREET
		STREET 2:		SUITE 4000
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5S 2B4
		BUSINESS PHONE:		(416) 960-9500

	MAIL ADDRESS:	
		STREET 1:		1140 BAY STREET
		STREET 2:		SUITE 4000
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5S 2B4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRSTSERVICE CORP
		DATE OF NAME CHANGE:	19931013
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k_042121.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>FORM 6-K</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of: April 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission file number 001-36898</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: -4.5pt">COLLIERS INTERNATIONAL
GROUP INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of registrant&#8217;s name
into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1140 Bay Street, Suite 4000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Toronto, Ontario, Canada</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>M5S 2B4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%">Form 20-F [ ]</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 69%; text-align: left">Form 40-F [X]</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether by furnishing the information
contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%">Yes [ ]</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 69%; text-align: left">No [X]</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If &#8220;Yes&#8221; is marked, indicate the file number assigned
to the Registrant in connection with Rule 12g3-2(b): N/A</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: center">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 50%; font-weight: bold; text-align: left">COLLIERS INTERNATIONAL GROUP INC.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Date: April 21, 2021</TD>
    <TD STYLE="font-style: italic; text-align: left"><U>/s/ Christian Mayer</U></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Christian Mayer</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Chief Financial Officer</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 0; font-weight: bold"></TD><TD STYLE="width: 1in; font-weight: bold">Exhibit</TD>
    <TD STYLE="font-weight: bold">Description of Exhibit</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><A HREF="exh_991.htm">99.1</A></TD><TD STYLE="text-align: justify"><A HREF="exh_991.htm">Registration Rights Agreement between Colliers International Group Inc. and Henset Capital Inc.
dated April 16, 2021</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><A HREF="exh_992.htm">99.2</A></TD><TD STYLE="text-align: justify"><A HREF="exh_992.htm">Sixth Amendment to Second Amended and Restated Credit Agreement dated April 1, 2021</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><A HREF="exh_993.htm">99.3</A></TD><TD STYLE="text-align: justify"><A HREF="exh_993.htm">Trust Agreement between Jay S. Hennick, Henset Capital Inc., Colliers International Group Inc.
and TSX Trust Company dated April 16, 2021</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><A HREF="exh_994.htm">99.4</A></TD><TD STYLE="text-align: justify"><A HREF="exh_994.htm">Trust Agreement between Jay S. Hennick, Henset Capital Inc., Colliers International Group Inc.
and TSX Trust Company dated April 16, 2021</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><A HREF="exh_995.htm">99.5</A></TD><TD STYLE="text-align: justify"><A HREF="exh_995.htm">Consent to Note Purchase Agreement dated April 6, 2021</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><A HREF="exh_996.htm">99.6</A></TD><TD STYLE="text-align: justify"><A HREF="exh_996.htm">Material Change Report dated April 21, 2021</A></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>



<P STYLE="margin: 0"></P>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 134.75pt; text-align: center">COLLIERS INTERNATIONAL
GROUP INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119.2pt 0pt 118.5pt; text-align: center"><B>and</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 135.55pt 0pt 134.75pt; text-align: center">HENSET CAPITAL
INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 134.5pt; text-align: center"><B>REGISTRATION RIGHTS
AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 135.4pt 0pt 134.75pt; text-align: center">April 16, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 134.75pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 134.75pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 134.75pt; text-align: center"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 134.75pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<TR>
    <TD COLSPAN="4" STYLE="font-weight: bold; vertical-align: middle; text-align: center">TABLE OF CONTENTS</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; font-weight: bold; vertical-align: middle; width: 10%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 78%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="font-weight: bold; vertical-align: middle; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">ARTICLE 1</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: normal 700 10pt Times New Roman, Times, Serif">INTERPRETATION AND GENERAL MATTERS</FONT></P></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 1.1</TD>
    <TD>&nbsp;</TD>
    <TD>Definitions.</TD>
    <TD STYLE="text-align: right">1</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 1.2</TD>
    <TD>&nbsp;</TD>
    <TD>Time of the Essence</TD>
    <TD STYLE="text-align: right">4</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 1.3</TD>
    <TD>&nbsp;</TD>
    <TD>Calculation of Time</TD>
    <TD STYLE="text-align: right">4</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 1.4</TD>
    <TD>&nbsp;</TD>
    <TD>Business Days</TD>
    <TD STYLE="text-align: right">4</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 1.5</TD>
    <TD>&nbsp;</TD>
    <TD>Headings</TD>
    <TD STYLE="text-align: right">4</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 1.6</TD>
    <TD>&nbsp;</TD>
    <TD>Plurals and Gender</TD>
    <TD STYLE="text-align: right">5</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 1.7</TD>
    <TD>&nbsp;</TD>
    <TD>Statutory References</TD>
    <TD STYLE="text-align: right">5</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 1.8</TD>
    <TD>&nbsp;</TD>
    <TD>Other References</TD>
    <TD STYLE="text-align: right">5</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="font-weight: bold; vertical-align: middle; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">ARTICLE 2</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 700">REGISTRATION RIGHTS</FONT></P></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 2.1</TD>
    <TD>&nbsp;</TD>
    <TD>Demand Registration Rights</TD>
    <TD STYLE="text-align: right">5</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 2.2</TD>
    <TD>&nbsp;</TD>
    <TD>Piggy-Back Registration Rights</TD>
    <TD STYLE="text-align: right">8</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 2.3</TD>
    <TD>&nbsp;</TD>
    <TD>Expenses</TD>
    <TD STYLE="text-align: right">8</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 2.4</TD>
    <TD>&nbsp;</TD>
    <TD>Restrictions on Other Agreements</TD>
    <TD STYLE="text-align: right">8</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 2.5</TD>
    <TD>&nbsp;</TD>
    <TD>Indemnification</TD>
    <TD STYLE="text-align: right">9</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="font-weight: bold; vertical-align: middle; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">ARTICLE 3</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: normal 700 10pt Times New Roman, Times, Serif">TERMINATION</FONT></P></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 3.1</TD>
    <TD>&nbsp;</TD>
    <TD>Termination</TD>
    <TD STYLE="text-align: right">11</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="font-weight: bold; vertical-align: middle; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">ARTICLE 4</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: normal 700 10pt Times New Roman, Times, Serif">GENERAL</FONT></P></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 4.1</TD>
    <TD>&nbsp;</TD>
    <TD>Amendments</TD>
    <TD STYLE="text-align: right">11</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 4.2</TD>
    <TD>&nbsp;</TD>
    <TD>Public Filing</TD>
    <TD STYLE="text-align: right">11</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 4.3</TD>
    <TD>&nbsp;</TD>
    <TD>Further Assurances</TD>
    <TD STYLE="text-align: right">11</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 4.4</TD>
    <TD>&nbsp;</TD>
    <TD>Assignment and Enurement</TD>
    <TD STYLE="text-align: right">11</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 4.5</TD>
    <TD>&nbsp;</TD>
    <TD>Entire Agreement</TD>
    <TD STYLE="text-align: right">12</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 4.6</TD>
    <TD>&nbsp;</TD>
    <TD>Waiver</TD>
    <TD STYLE="text-align: right">12</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 4.7</TD>
    <TD>&nbsp;</TD>
    <TD>Notices</TD>
    <TD STYLE="text-align: right">12</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 4.8</TD>
    <TD>&nbsp;</TD>
    <TD>Severability</TD>
    <TD STYLE="text-align: right">13</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 4.9</TD>
    <TD>&nbsp;</TD>
    <TD>Counterparts</TD>
    <TD STYLE="text-align: right">13</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 4.10</TD>
    <TD>&nbsp;</TD>
    <TD>Governing Law</TD>
    <TD STYLE="text-align: right">13</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">Section 4.11</TD>
    <TD>&nbsp;</TD>
    <TD>Remedies</TD>
    <TD STYLE="text-align: right">13</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.5pt 0pt 134.75pt; text-align: center"><B>ADDENDA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Schedule &#8220;A&#8221; Registration Procedures</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 134.7pt; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 134.7pt; text-align: center">REGISTRATION RIGHTS
AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify">This Registration Rights Agreement
(the &#8220;<B>Agreement</B>&#8221;) is made this 16<FONT STYLE="font-size: 10pt">th</FONT> day of April, 2021 (the &#8220;<B>Effective
Date</B>&#8221;) between Colliers International Group Inc., a corporation existing under the laws of the Province of Ontario (the
&#8220;<B>Corporation</B>&#8221;) and Henset Capital Inc. (&#8220;<B>Henset</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5pt; text-align: justify"><B>NOW THEREFORE </B>in consideration
of the premises and the mutual covenants and agreements herein contained, the receipt and sufficiency of which are hereby acknowledged,
the Parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE
1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">INTERPRETATION AND GENERAL MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 1.1 Definitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Terms used in this Agreement shall
have the meanings set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify">&#8220;<B>Affiliate</B>&#8221;
has the meaning ascribed thereto in National Instrument 62-104 &#8211; <I>Take Over Bids and Issuer Bids</I> as in effect as of
the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify">&#8220;<B>Agreement,</B>&#8221;
&#8220;<B>this Agreement,</B>&#8221; &#8220;<B>hereof,</B>&#8221; &#8220;<B>herein,</B>&#8221; &#8220;<B>hereto,</B>&#8221; &#8220;<B>hereby,</B>&#8221;
&#8220;<B>hereunder</B>&#8221; and similar expressions mean this Agreement, including all of its schedules and all instruments
supplementing, amending or confirming this Agreement, as amended from time to time in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify">&#8220;<B>Arbitration Notice</B>&#8221;
has the meaning ascribed thereto in Section 4.11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify">&#8220;<B>Associate</B>&#8221;
has the meaning ascribed thereto in National Instrument 62-104 &#8211; <I>Take Over Bids and Issuer Bids</I> as in effect as of
the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify">&#8220;<B>Board</B>&#8221; means
the board of directors of the Corporation, as constituted from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify">&#8220;<B>Business Day</B>&#8221;
means any day which is not a Saturday, a Sunday or a day on which the principal commercial banks located in the City of Toronto,
Ontario or New York, New York are not open for business during normal banking hours.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 41pt; text-align: justify">&#8220;<B>Canadian Prospectus</B>&#8221;
means, as the context requires, a &#8220;preliminary prospectus<B>,</B>&#8221; &#8220;amended and restated preliminary prospectus&#8221;
and a &#8220;final prospectus&#8221; as those terms are used in the Securities Act and including, without limitation, all amendments
and all supplements thereto and all documents incorporated or deemed to be incorporated by reference therein, and includes, for
the avoidance of doubt, a base shelf prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify">&#8220;<B>Canadian Securities
Authorities</B>&#8221; means any of the British Columbia Securities Commission, Alberta Securities Commission, Financial and Consumer
Affairs Authority of Saskatchewan, Manitoba Securities Commission, Ontario Securities Commission, Financial and Consumer Services
Commission (New Brunswick), Nova Scotia Securities Commission, Office of the Superintendent of Securities (Prince Edward Island),
Office of the Superintendent of Securities Service (Newfoundland and Labrador), Office of the Superintendent of Securities (Northwest
Territories), Office of the Yukon Superintendent of Securities, Nunavut Securities Office, and any of their successors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify">&#8220;<B>Canadian Securities
Laws</B>&#8221; means the securities laws, regulations and rules of each of the provinces and territories of Canada (other than
Quebec), the forms and disclosure</P>

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    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 41pt; text-align: justify">requirements made or promulgated
under those laws, regulations or rules, the policy statements, rules, orders and companion policies of or administered by the Canadian
Securities Authorities, and applicable discretionary rulings, blanket orders or orders issued by the Canadian Securities Authorities
pursuant to such laws, regulations, rules and policy statements, all as amended and in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify">&#8220;<B>Corporation</B>&#8221;
has the meaning ascribed thereto in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 41pt">&#8220;<B>Demand Canadian Prospectus</B>&#8221;
has the meaning ascribed thereto in Section 2.1(3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 41pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 41pt">&#8220;<B>Demand Registration</B>&#8221; has the meaning ascribed thereto in
Section 2.1(1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 41pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 41pt">&#8220;<B>Demand Registration Request</B>&#8221; has the meaning ascribed thereto in Section 2.1(1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 29.65pt 0pt 41pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 29.65pt 0pt 41pt">&#8220;<B>Demand Registration Statement</B>&#8221;
has the meaning ascribed thereto in Section 2.1(3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 29.65pt 0pt 41pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 29.65pt 0pt 41pt">&#8220;<B>Dispute</B>&#8221; has the meaning ascribed thereto in Section 4.11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt">&#8220;<B>Distribution</B>&#8221; means a distribution
of Subordinate Voting Shares to the public by way of a Registration Statement or Canadian Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 41pt; text-align: justify">&#8220;<B>Distribution Expenses</B>&#8221;
means all fees and expenses incurred by the Corporation in connection with any Distribution conducted pursuant to this Agreement,
including, without limitation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 36.05pt">(a)</TD><TD STYLE="text-align: left">all fees, disbursements and expenses of legal counsel and auditors to the Corporation;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 5.6pt">all expenses in connection with the preparation, translation, printing and
filing of any Registration Statement or Canadian Prospectus and the mailing and delivering of copies thereof to any underwriters
and dealers;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 36.05pt">(c)</TD><TD STYLE="text-align: left">all filing fees of any Securities Regulator;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 5.95pt">all transfer agents&#8217;, depositaries&#8217; and registrars&#8217; fees
and the fees of any other agent appointed by the Corporation;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 36.05pt">(e)</TD><TD STYLE="text-align: left">all expenses relating to the preparation of share certificates;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(f)</TD><TD STYLE="text-align: justify; padding-right: 5.7pt">all fees and expenses of any stock exchange or over-the-counter market on
which the Corporation has applied to list its Subordinate Voting Shares; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(g)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">all expenses of the Corporation relating to &#8220;road shows&#8221; and
marketing activities and all travel and lodging expenses of representatives of the Corporation in connection with such &#8220;road
shows&#8221; and marketing activities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 123.55pt 0pt 41pt">&#8220;<B>Effective Date</B>&#8221; has the
meaning ascribed thereto in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 123.55pt 0pt 41pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 123.55pt 0pt 41pt">&#8220;<B>Henset</B>&#8221; has the meaning ascribed thereto in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt">&#8220;<B>Issuer Free Writing Prospectus</B>&#8221;
means an issuer free writing prospectus, as defined in Rule 433 under the U.S. Securities Act, relating to an offer of the Registrable
Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify">&#8220;<B>Jay</B>&#8221;
means Jay S. Hennick, an individual resident in the City of Toronto in the Province of Ontario.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify">&#8220;<B>Losses</B>&#8221; has
the meaning ascribed thereto in Section 2.5(1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.3pt 0pt 41pt; text-align: justify">&#8220;<B>Multiple Voting
Shares</B>&#8221; means the multiple voting shares in the capital of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.3pt 0pt 41pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.3pt 0pt 41pt; text-align: justify">&#8220;<B>Other Distribution</B>&#8221; has
the meaning ascribed thereto in Section 2.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify">&#8220;<B>Parties</B>&#8221; means
the Corporation and Henset, and &#8220;<B>Party</B>&#8221; means either of them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 41pt; text-align: justify">&#8220;<B>Permitted Assignee</B>&#8221;
means any Affiliate or Associate of Henset, including, for the avoidance of doubt, Jay and any Person controlled, directly or indirectly,
by Jay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 41pt; text-align: justify">&#8220;<B>Person</B>&#8221;
includes an individual, body corporate with or without share capital, partnership, limited liability company, joint venture, entity,
unincorporated association, firm, sole proprietorship, trust, pension fund, union, board, tribunal, governmental or quasi- governmental
authority and the heirs, beneficiaries, executors, legal representatives or administrators of an individual.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 81pt 0pt 41pt; text-align: justify">&#8220;<B>Piggy-Back Notice</B>&#8221;
has the meaning ascribed thereto in Section 2.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 81pt 0pt 41pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 81pt 0pt 41pt; text-align: justify">&#8220;<B>Piggy-Back Registration</B>&#8221; has the meaning ascribed thereto
in Section 2.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify">&#8220;<B>Public Offering</B>&#8221;
means the offer and sale of Registrable Securities for cash pursuant to (i) an effective Registration Statement under the U.S.
Securities Act (other than a Registration Statement on Form S-4, Form F-4 or Form S-8 or any successor form), (ii) a Canadian Prospectus,
(iii) a combination of (i) and (ii) above, or (iv) comparable mechanics under the securities laws of any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify">&#8220;<B>Registrable Securities</B>&#8221;
means any Subordinate Voting Shares owned or that may be acquired by Henset or any of its Permitted Assignees as of the Effective
Date (including as a result of the conversion in accordance with their terms of any Multiple Voting Shares). As of the date hereof,
the Registrable Securities include 6,676,077 Subordinate Voting Shares, including 1,325,694 Subordinate Voting Shares issuable
upon conversion of the Multiple Voting Shares and 345,014 Subordinate Voting Shares issuable upon conversion of the 4.00% Convertible
Senior Subordinated Notes of the Corporation due 2025. As to any particular Registrable Securities, such securities shall cease
to be Registrable Securities when they have been distributed to the public pursuant to a Distribution or have been otherwise transferred
by Henset or a Permitted Assignee to a Person that is not a Permitted Assignee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify">&#8220;<B>Registration</B>&#8221;
means (i) a registration under the U.S. Securities Act of the offer and sale to the public of any Registrable Securities under
a Registration Statement, (ii) the qualification of any Registrable Securities for Distribution under applicable Canadian Securities
Laws in any province or territory of Canada (other than Quebec) by way of a Canadian Prospectus, (iii) a combination of (i) and
(ii) above, or (iv) comparable mechanics under the securities laws of any other jurisdiction. The terms &#8220;register&#8221;,
&#8220;registered&#8221; and &#8220;registering&#8221; shall have correlative meanings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify">&#8220;<B>Registration Statement</B>&#8221;
means any registration statement of the Corporation filed with, or to be filed with, the SEC under the U.S. Securities Act, including
the related U.S. Prospectus, amendments and supplements to such registration statement, including pre- and post-effective amendments,
and all exhibits and all material incorporated by reference in such registration</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.5pt 0pt 41pt; text-align: justify">statement other than a registration
statement (and related U.S. Prospectus) filed on Form S- 4, Form F-4 or Form S-8 or any successor form thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 41pt; text-align: justify">&#8220;<B>SEC</B>&#8221; means
the Securities and Exchange Commission or any successor agency having jurisdiction under the U.S. Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 41pt; text-align: justify">&#8220;<B>Securities Act</B>&#8221;
means the <I>Securities Act</I> (Ontario), as it may be amended from time to time, and any successor legislation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.95pt 0pt 41pt; text-align: justify">&#8220;<B>Securities Regulators</B>&#8221;
means the SEC, the Canadian Securities Authorities and any applicable securities authorities of any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify">&#8220;<B>Selling Shareholder
Information</B>&#8221; has the meaning ascribed thereto in Section 2.5(1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify">&#8220;<B>Subordinate Voting
Shares</B>&#8221; means the subordinate voting shares in the capital of the Corporation, and includes any securities into which
such subordinate voting shares may be changed, exchanged, reorganized or reclassified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 41pt; text-align: justify">&#8220;<B>U.S. Prospectus</B>&#8221;
means (i) the prospectus included in any Registration Statement, all amendments and supplements to such prospectus, including post-effective
amendments and supplements, and all other material incorporated by reference in such prospectus, and (ii) any Issuer Free Writing
Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 41pt; text-align: justify">&#8220;<B>U.S. Securities
Act</B>&#8221; means the Securities Act of 1933, as amended, and any successor thereto, and any rules and regulations promulgated
thereunder, all as the same shall be in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt; text-align: justify">&#8220;<B>Valid Business Reason</B>&#8221;
has the meaning ascribed thereto in Section 2.1(6)(d)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: left">Section 1.2&#9;Time of the Essence</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt">Time shall be of the essence of each provision of this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: left">Section 1.3&#9;Calculation of
Time</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.95pt 0pt 5pt; text-align: justify">Unless otherwise specified,
time periods within or following which any act is to be done shall be calculated by excluding the day on which the period commences
and including the day on which the period ends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 1.4 Business Days</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5pt; text-align: justify">Whenever any action to be
taken pursuant to this Agreement would otherwise be required to be taken or made on a day that is not a Business Day, such action
shall be taken on the first Business Day following such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 1.5 Headings</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify">The descriptive headings preceding
Articles and Sections of this Agreement are inserted solely for convenience of reference and are not intended as complete or accurate
descriptions of the content of such Articles or Sections. The division of this Agreement into Articles and Sections shall not affect
the interpretation of this Agreement. All references to &#8220;Articles&#8221; or &#8220;Sections&#8221; refer to the specified
Article or Section of this Agreement.</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 1.6 Plurals and Gender</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Words in the singular include the
plural and vice versa and words in one gender include all genders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 1.7 Statutory References</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify">Any reference to a statute
shall mean the statute in force as at the date of this Agreement (together with all regulations promulgated thereunder) as the
same may be amended, re- enacted, consolidated or replaced from time to time, and any successor statute thereto, unless otherwise
stated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 1.8 Other References</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify">&#8220;Include,&#8221; &#8220;includes&#8221;
and &#8220;including&#8221; shall be deemed to be followed by &#8220;without limitation&#8221; whether or not they are in fact
followed by such words or words of like import.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE
2</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">REGISTRATION RIGHTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 2.1 Demand Registration
Rights</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(1)</TD><TD STYLE="text-align: justify; padding-right: 5.7pt">At any time following the Effective Date, Henset shall have the right to
make a written request from time to time (a &#8220;<B>Demand Registration Request</B>&#8221;) to the Corporation for Registration
of all or part of the Registrable Securities held by Henset and its Permitted Assignees. Any such Registration pursuant to a Demand
Registration Request shall hereinafter be referred to as a &#8220;<B>Demand Registration</B>.&#8221; The Parties shall cooperate
in good faith and in a timely manner in connection with any Demand Registration and related Distribution and the procedures in
Schedule &#8220;A&#8221; shall apply.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(2)</TD><TD STYLE="text-align: justify; padding-right: 5.7pt">Each Demand Registration Request shall specify (i) the aggregate amount
                                                            of Registrable Securities intended to be sold, (ii) the intended method or methods of disposition thereof and (iii) the jurisdiction(s) in which the Registration
is to take place.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(3)</TD><TD STYLE="text-align: justify; padding-right: 5.7pt">Upon receipt of a Demand Registration Request, the Corporation shall as promptly
as practicable file a Registration Statement (a &#8220;<B>Demand Registration Statement</B>&#8221;) relating to such Demand Registration,
and use its reasonable best efforts to cause such Demand Registration Statement to be promptly declared effective under the U.S.
Securities Act, and/or, as may be requested, file with the applicable Canadian Securities Authorities and use its reasonable best
efforts to secure the issuance of a receipt or mutual reliance review decision document for a (final) Canadian Prospectus (a &#8220;<B>Demand
Canadian Prospectus</B>&#8221;) relating to such Demand Registration.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(4)</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">Henset and its Permitted Assignees may withdraw all or any portion of their
Registrable Securities included in a Demand Registration from such Demand Registration at any time prior to the effectiveness of
the Demand Registration Statement or the filing of the Demand Canadian Prospectus, as applicable. Upon receipt of a notice to such
effect with respect to all the Registrable Securities included by Henset and/or its Permitted Assignees in such Demand Registration,
the Corporation shall cease all efforts to pursue or consummate such Demand Registration.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(5)</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">The Corporation shall (i) use reasonable best efforts to cause any Demand
Registration Statement to become effective and remain effective for not less than one hundred eighty (180) days (or such shorter
period as will terminate when all Registrable Securities covered by such Demand Registration Statement have been sold or withdrawn),
or, if such Demand</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 41pt; text-align: justify">Registration Statement relates
to an underwritten Public Offering, such longer period as in the opinion of counsel for the underwriter or underwriters a U.S.
Prospectus is required by law to be delivered in connection with sales of Registrable Securities by an underwriter or dealer, and
(ii) from the period beginning on the filing of any Demand Canadian Prospectus until the completion of the distribution of the
Registrable Securities covered by such Demand Canadian Prospectus (or the closing date of the offering of such Registrable Securities
thereunder, if later), comply with section 57 of the Securities Act and the comparable provisions of other applicable Canadian
Securities Laws, and prepare and file promptly any prospectus or marketing material amendment which, in the opinion of the Corporation,
acting reasonably, may be necessary or advisable, and will otherwise comply with all legal requirements and take all actions necessary
to continue to qualify such Registrable Securities for distribution in the applicable provinces (other than Quebec) and territories
of Canada for as long as may be necessary to complete the distribution of such Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(6)</TD><TD STYLE="text-align: left; padding-right: 5.8pt">Notwithstanding Section 2.1(1) of this Agreement, the Corporation shall not
be obliged to effect any Demand Registration if:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 5.9pt">within any prior twelve (12) month period there have been effected two (2)
Demand Registrations (including, for greater certainty, any Demand Registration which is subsequently withdrawn pursuant to Section
2.1(4));</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">the value of the Subordinate Voting Shares to be offered under any such
Demand Registration is less than $30,000,000, unless the number of Subordinate Voting Shares included in the Demand Registration
represent (i) five percent (5%) or more of the Corporation&#8217;s Subordinate Voting Shares then outstanding, on a non-diluted
basis, or (ii) all of Henset&#8217;s and its Permitted Assignees&#8217; remaining Registrable Securities at the time of the applicable
Demand Registration;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 5.85pt">within ninety (90) days prior to such Demand Registration the Corporation
completed a Public Offering or such longer period as may be required by the any underwriter or dealer in connection with such Public
Offering; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 5.95pt">the Board determines in its good faith judgment, acting reasonably and after
receiving the advice of counsel, that either</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 82pt"></TD><TD STYLE="width: 31pt">(i)</TD><TD STYLE="text-align: justify; padding-right: 5.8pt">the effect of the filing of a Registration Statement or Canadian Prospectus
would materially impede the ability of the Corporation to consummate a material financing, acquisition, corporate reorganization,
merger or other material transaction involving the Corporation; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 79.75pt"></TD><TD STYLE="width: 33.25pt">(ii)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">there exists at the time material non-public information relating to the
Corporation, the disclosure of which would be detrimental to the Corporation, and the Corporation has a bona fide business purpose
for preserving such information as confidential (each of the circumstances in (i) and (ii) above being a &#8220;<B>Valid Business
Reason</B>&#8221;). In the event of a Valid Business Reason, the Corporation&#8217;s obligations under Section 2.1(1) will be deferred
for a period of not more than ninety (90) days from the date of receipt of the request for a Demand Registration, provided that
the Corporation may not defer its obligations under Section 2.1(1) for a period of more than one hundred and twenty (120) days
in the aggregate in any twelve consecutive months. The Corporation will give written notice of (x) its determination to defer its
filing obligations under Section 2.1(1) and (y) the cessation or end of its Valid Business Reason for such deferral, in each case,
promptly after the occurrence</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 113pt; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 113pt; text-align: justify">thereof. If the Corporation
defers its obligations pursuant to this Section 2.1(6)(d)(ii) and if Henset, at any time prior to receiving written notice that
the Valid Business Reason for such postponement no longer exists, advises the Corporation in writing that it has determined to
withdraw such request for a Demand Registration, then such Demand Registration and the request therefor will be deemed to be withdrawn
and such request will be deemed not to have been given for purposes of determining whether Henset has exercised its right to a
Demand Registration pursuant to this Section 2.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(7)</TD><TD STYLE="text-align: justify; padding-right: 5.8pt">The Corporation shall not include in any Demand Registration any securities
which are not Registrable Securities without the prior written consent of Henset, unless such securities are to be included pursuant
to the valid exercise of registration rights by other securityholders; provided, however, that any such securities of other securityholders
included in such Demand Registration shall not take priority over the Registrable Securities included or requested to be included
in such Demand Registration.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(8)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">In the case of an underwritten Public Offering initiated pursuant to this
Section 2.1, Henset shall have the right to select the managing underwriter or underwriters to effect the distribution in connection
with such Demand Registration, provided such underwriter or underwriters are acceptable to the Corporation, acting reasonably.
The Corporation shall have the right to retain counsel of its choice to assist it in fulfilling its obligations under this Article
2.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(9)</TD><TD STYLE="text-align: justify; padding-right: 5.6pt">In the case of an underwritten Public Offering initiated pursuant to this
Section 2.1, Henset and its representatives may participate in the negotiations of the terms of any underwriting agreement. In
the case of an underwritten Public Offering initiated pursuant to Section 2.1 or Section 2.2 and in which Henset participates as
a selling securityholder, to the extent reasonably requested by the managing underwriter or underwriters, Henset shall also enter
into a customary lock-up agreement (which lock-up agreement shall also provide for customary exceptions) (i) not to effect any
public sale or distribution of any Registrable Securities or of any securities convertible into or exchangeable or exercisable
for such Registrable Securities, or grant any option to purchase or enter into any hedging or similar transaction with the same
economic effect as a sale of, any Registrable Securities, and (ii) except as otherwise consented to by the Corporation, not to
make any request for a Demand Registration under this Agreement, in each case, during the 90-day period following the effective
date of the Registration Statement or receipt for the (final) Canadian Prospectus (or such shorter period as may be agreed to by
Henset with the managing underwriter(s)) with regard to such underwritten Public Offering), except in each case as part of such
underwritten Public Offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(10)</TD><TD STYLE="text-align: justify; padding-right: 5.7pt">At any time following the Effective Date the Corporation shall, upon Henset&#8217;s
request, use its reasonable best efforts to prepare and file and obtain a receipt (if applicable) from the applicable Securities
Regulators for a shelf Canadian Prospectus (and the corresponding Registration Statement) to qualify the distribution of all Registrable
Securities. In advance of the expiration of such any shelf Canadian Prospectus and the corresponding Registration Statement, unless
otherwise directed by Henset, the Corporation shall use reasonable best efforts to renew such shelf Canadian Prospectus and the
corresponding Registration Statement such that the Corporation shall at all times have an effective shelf Canadian Prospectus (and
corresponding Registration Statement) with sufficient capacity to qualify the distribution of all the Registrable Securities. The
obligations of the Corporation under this Section 2.1(10) are subject to the same proviso as set out in Section 2.1(6)(d)(ii) regarding
a Valid Business Reason.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 2.2 Piggy-Back Registration
Rights</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5pt; text-align: justify">If, at any time following
the Effective Date, the Corporation proposes to make or file a Registration Statement or Canadian Prospectus for the Distribution
for its own account or for the account of other securityholders exercising demand registration rights granted to such securityholders
(other than Henset and its Permitted Assignees) (the &#8220;<B>Other Distribution</B>&#8221;), in a form and manner that, with
appropriate changes, would permit the registration or qualification of Registrable Securities under such Registration Statement
or Canadian Prospectus, the Corporation will, at that time, promptly give Henset written notice (the &#8220;<B>Piggy-Back Notice</B>&#8221;)
of the proposed Distribution. Upon the written request of Henset, given within fifteen (15) Business Days after receipt of the
Piggy-Back Notice (provided that if such proposed Distribution is to be effected as a bought deal or similar offering, the Corporation
shall have provided notice thereof to Henset as promptly as practicable in the circumstances, in which case Henset shall be required
to respond in a manner consistent with the time periods typical for transactions of such nature, and in any event prior to the
launch of such bought deal or similar offering), that Henset and/or its Permitted Assignees wishes to include a specified number
of the Registrable Securities in the Distribution, the Corporation will cause the Registrable Securities requested to be registered
or qualified by Henset and/or its Permitted Assignees to be included in the Distribution (a &#8220;<B>Piggy-Back Registration</B>&#8221;).
Notwithstanding the foregoing, the Corporation shall not be required to include all of the Registrable Securities requested to
be qualified by Henset and/or its Permitted Assignees in a Piggy-Back Registration if, in connection with such Distribution, the
Corporation is advised in good faith by its managing underwriter or underwriters to impose a limitation on the number or kind of
securities which may be included in any such Distribution because, in its reasonable judgment, such limitation is necessary to
effect an orderly public distribution, in which case the Corporation shall be required to include in such Distribution only such
portion of the Registrable Securities as is determined in good faith by such managing underwriter(s) in the following priority:
first, the securities offered by the Corporation for its own account and as contemplated in the Piggy-Back Notice; second, the
Registrable Securities requested to be qualified by Henset and/or its Permitted Assignees under this Section 2.2, the securities
offered for the account of another securityholder (other than Henset and/or its Permitted Assignees) exercising demand rights in
respect of the Other Distribution, and/or the securities requested to be qualified by any other securityholder of the Corporation
exercising its &#8220;piggy-back&#8221; rights, on a pro rata basis (based on the proportionate ownership of Subordinate Voting
Shares by Henset and its Permitted Assignees to the ownership of Subordinate Voting Shares by such other securityholders). The
Parties shall cooperate in good faith and in a timely manner in connection with any Piggy-Back Registration and related Distribution
and the procedures in Schedule &#8220;A&#8221; shall apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 2.3 Expenses</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.95pt"></TD><TD STYLE="width: 36.05pt">(1)</TD><TD STYLE="text-align: left">Without limiting Section 2.3(2), all Distribution Expenses shall be paid by the Corporation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(2)</TD><TD STYLE="text-align: justify; padding-right: 5.6pt">Henset or its applicable Permitted Assignees will be solely responsible for
all underwriting discounts, fees, commissions and transfer taxes attributable to the Registrable Securities to be sold by Henset
or its applicable Permitted Assignees in a Demand Registration or Piggy- Back Registration, as the case may be and will be solely
responsible for all legal fees and disbursements incurred by Henset and/or its Permitted Assignees in respect of their legal counsel
in connection with any Demand Registration or Piggy-Back Registration.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 2.4 Restrictions on
Other Agreements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify">The Corporation will not grant
any right relating to the registration, qualification or Distribution of its securities, including any demand registration or piggy-back
registration rights, to its securityholders if the exercise thereof prevents the Corporation from fulfilling its obligations under
Article 2 ARTICLE 2of this Agreement without the prior written consent of Henset.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: left">Section 2.5&#9;Indemnification</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(1)</TD><TD STYLE="text-align: justify; padding-right: 5.6pt">The Corporation shall indemnify and hold harmless, to the full extent permitted
by law, Henset and each of its Permitted Assignees, and each of their respective officers, directors, managers, shareholders, employees,
advisors, and agents from and against any and all losses, penalties, judgments, suits, costs, claims, damages, liabilities and
expenses, joint or several (including reasonable costs of investigation and legal expenses and any indemnity and contribution payments
made to underwriters) (each, a &#8220;<B>Loss</B>&#8221; and collectively &#8220;<B>Losses</B>&#8221;) arising out of or based
upon: (a)(i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which Registrable
Securities are registered or sold under the U.S. Securities Act
(including any final, preliminary or summary U.S. Prospectus contained therein or any amendment thereof or supplement thereto
or any documents incorporated by reference therein), or (ii) any omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein (in the case of a U.S. Prospectus or
preliminary U.S. Prospectus, in light of the circumstances under which they were made) not misleading, (b) any information or
statement in a Canadian Prospectus that contains or is alleged to contain a misrepresentation or any omission of a Canadian
Prospectus to contain full, true and plain disclosure of all material facts relating to the securities distributed
thereunder, or (c) any violation or alleged violation by the Corporation or any of its subsidiaries of any law applicable to
the Corporation or any of its subsidiaries and relating to action or inaction in connection with any Registration; <U>provided</U>,
that Henset and its Permitted Assignees shall not be entitled to indemnification pursuant to this Section 2.5(1) in respect
of any untrue statement or omission or any misrepresentation contained in any information relating to such Person furnished
in writing by such Person to the Corporation specifically for inclusion in a Registration Statement or Canadian Prospectus
and used by the Corporation in conformity therewith (such information &#8220;<B>Selling Shareholder Information</B>&#8221;).
This indemnity shall be in addition to any liability the Corporation may otherwise have. Such indemnity shall remain in full
force and effect regardless of any investigation made by or on behalf of such Person or any indemnified party and regardless
of any indemnity agreed to in any underwriting agreement.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(2)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">Henset agrees to indemnify and hold harmless, to the fullest extent permitted
by law, the Corporation and its directors and officers from and against any Losses resulting from (a)(i) any untrue statement of
a material fact in any Registration Statement under which Registrable Securities were registered or sold under the U.S. Securities
Act (including any final, preliminary or summary U.S. Prospectus contained therein or any amendment thereof or supplement thereto
or any documents incorporated by reference therein) or (ii) any omission to state therein a material fact required to be stated
therein or necessary to make the statements therein (in the case of a U.S. Prospectus or preliminary U.S. Prospectus, in light
of the circumstances under which they were made) not misleading, or (b) any information or statement in a Canadian Prospectus that
contains a misrepresentation, in each case to the extent, but only to the extent, that such untrue statement or omission or such
misrepresentation is contained in the Selling Shareholder Information. In no event shall the liability of Henset hereunder be greater
in amount than the dollar amount of the proceeds from the sale of its or its Permitted Assignees&#8217; Registrable Securities
in the offering giving rise to such indemnification obligation, net of underwriting discounts and commissions but before expenses.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(3)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">Any Person entitled to indemnification hereunder shall (a) give prompt written
notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that any delay or failure
to so notify the indemnifying party shall relieve the indemnifying party of its obligations hereunder only to the extent, if at
all, that it forfeits substantive legal rights by reason of such delay or failure) and (b) permit such indemnifying party to assume
the defense</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 41pt; text-align: justify">of such claim with counsel
reasonably satisfactory to the indemnified party; provided, however, that any Person entitled to indemnification hereunder shall
have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses
of such counsel shall be at the expense of such Person unless (i) the indemnifying party has agreed in writing to pay such fees
or expenses, (ii) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt
of notice of such claim from the Person entitled to indemnification hereunder and employ counsel reasonably satisfactory to such
Person, (iii) the indemnified party has reasonably concluded (based upon advice of its counsel) that there may be legal defenses
available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party,
or (iv) in the reasonable judgment of any such Person (based upon advice of its counsel) a conflict of interest may exist between
such Person and the indemnifying party with respect to such claims (in which case, if the Person notifies the indemnifying party
in writing that such Person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party
shall not have the right to assume the defense of such claim on behalf of such Person). If the indemnifying party assumes the defense,
the indemnifying party shall not have the right to settle such action without the consent of the indemnified party. No indemnifying
party shall consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof
the giving by the claimant or plaintiff to such indemnified party of an unconditional release from all liability in respect to
such claim or litigation without the prior written consent of such indemnified party. If such defense is not assumed by the indemnifying
party, the indemnifying party will not be subject to any liability for any settlement made without its prior written consent, but
such consent may not be unreasonably withheld.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(4)</TD><TD STYLE="text-align: justify; padding-right: 5.6pt">If for any reason the indemnification provided for in Section 2.5(1) or Section
2.5(2) is unavailable to an indemnified party or insufficient in respect of any Losses referred to therein (other than as a result
of exceptions or limitations on indemnification contained in Section 2.5(1) or Section 2.5(2), as applicable), then the indemnifying
party shall contribute to the amount paid or payable by the indemnified party as a result of such Loss in such proportion as is
appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party or parties on the
other hand in connection with the acts, statements or omissions that resulted in such Losses, as well as any other relevant equitable
considerations. The relative fault of the indemnifying party on the one hand and the indemnified party on the other hand shall
be determined by reference to, among other things whether any untrue or alleged untrue statement of a material fact or misrepresentation
or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or by the
indemnified party, and the parties&#8217; relative intent, knowledge, access to information and opportunity to correct or prevent
such statement, misrepresentation or omission. The Parties hereto agree that it would not be just or equitable if contribution
pursuant to this Section 2.5(4) were determined by pro rata allocation or by any other method of allocation that does not take
account of the equitable considerations referred to in this Section 2.5(4). Notwithstanding the provisions of this Section 2.5(4),
in connection with any Registration effected pursuant to this Agreement, Henset shall not be required to contribute any amount
in excess of the dollar amount of the proceeds from the sale of its and/or its Permitted Assignees&#8217; Registrable Securities
in the offering giving rise to such indemnification obligation, net of underwriting discounts and commissions but before expenses.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">(5)</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">The remedies provided for in this Section 2.5 are not exclusive and shall
not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 203.3pt 0pt 202.55pt; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE 3</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">TERMINATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 3.1 Termination</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5pt; text-align: justify">This Agreement may be terminated
at any time by mutual consent of the Parties, and shall automatically terminate on any date following the Effective Date on which
Henset and its Permitted Assignees: (a) hold less than 20% of the voting rights attached to all outstanding voting securities of
the Corporation, and (b) beneficially own less than 10% of the outstanding Subordinate Voting Shares on a non-diluted basis and
assuming, for purposes of this clause (b), the conversion by Henset and its Permitted Assignees of all outstanding Multiple Voting
Shares owned by them into Subordinate Voting Shares. In the event of the termination of this Agreement as provided in this Section
3.1, this Agreement shall be of no further force or effect and all rights and obligations of the Parties hereto shall be at an
end; except for the provisions of Section 2.5, which shall survive any such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE 4</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">GENERAL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 4.1 Amendments</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 5pt; text-align: justify">This Agreement shall not be
amended, superseded or cancelled except by a written instrument signed by each of the Parties and any instrument purporting to
amend, supersede or cancel this Agreement or any part hereof shall not be binding and shall be of no effect unless and until it
has been executed and delivered by each of the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 4.2 Public Filing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify">The Parties hereby consent
to the public filing of this Agreement if any Party is required to do so by applicable law or by applicable regulations or policies
of any regulatory agency of competent jurisdiction or any stock exchange on which the Subordinate Voting Shares may be listed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 4.3 Further Assurances</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify">Each Party shall do, execute,
acknowledge and deliver or cause to be done, executed, acknowledged and delivered all such further reasonable acts, deeds, documents,
assignments, transfers, conveyances, powers of attorney and assurances as may reasonably be necessary or desirable to carry out
the provisions of this Agreement; provided that in no event shall any Party be required to take any further action if and to the
extent that such action would or would reasonably be expected to, in any material respect, increase or expand the obligations,
duties or liabilities of that Party beyond the scope of its obligations, duties and liabilities set forth in this Agreement and
any other agreement between the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 4.4 Assignment and
Enurement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify">Neither Party may assign or
transfer this Agreement or any of the rights or obligations under it without the prior written consent of the other Party, except
as provided herein to Permitted Assignees. Any rights of Henset hereunder may be exercised by any Permitted Assignee as if the
Permitted Assignee was Henset; provided, however, that Henset and all of its Permitted Assignees shall have collectively only the
same registration rights (including in terms of frequency) in the aggregate as Henset.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 4.5 Entire Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 5pt; text-align: justify">This Agreement and any agreement
or document delivered in connection with this Agreement, constitutes the entire agreement between the Parties with respect to the
matters herein and supersedes all prior agreements, understandings, negotiations and discussions relating to the subject matter
hereof. There are no other covenants, agreements, representations, warranties, conditions, whether direct or collateral, express
or implied, that form part of or affect this Agreement except as otherwise provided this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 4.6 Waiver</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify">The failure of a Party at
any time or times to require performance of any provision hereof by any other Party shall in no manner affect the right of such
Party to require such performance at a later time. No act or omission of any Party, other than an express written waiver signed
by such Party, shall constitute a waiver by such Party of any representation, warranty, covenant, agreement or condition of this
Agreement or any breach thereof by another Party. No waiver by a Party hereto of any representation, warranty, covenant, agreement
or condition of this Agreement or any breach thereof by another Party, in any one or more instances, shall be deemed to be or construed
as a further or continuing waiver of such or any other representation, warranty, covenant, agreement, condition or any breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 4.7 Notices</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 5pt; text-align: justify">All notices, requests, demands
or other communications required or permitted to be given by one Party to another under this Agreement shall be given in writing
and delivered by personal delivery or delivery by recognized commercial courier, sent by email (return receipt requested) or delivered
by registered mail or postage prepaid, addressed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 36.05pt">(a)</TD><TD STYLE="text-align: left">to the Corporation:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 232.2pt 0pt 77pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 232.2pt 0pt 77pt">Colliers International Group Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 232.2pt 0pt 77pt">1140 Bay Street,
Suite 4000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 232.2pt 0pt 77pt">Toronto, Ontario, Canada M5S 2B4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 232.2pt 0pt 77pt">Attention: Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 232.2pt 0pt 77pt">Email: christian.mayer@colliers.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">With a copy to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">Fogler, Rubinoff LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 234.65pt 0pt 77pt">77 King Street West, Suite 3000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 234.65pt 0pt 77pt">Toronto, Ontario,
Canada M5K 1G8</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 234.65pt 0pt 77pt">Attention: Elliott A. Vardin</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">Email: evardin@foglers.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 36.05pt">(b)</TD><TD STYLE="text-align: left">to Henset:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">Henset Capital Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 235.8pt 0pt 77pt">1140 Bay Street, Suite 4000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 235.8pt 0pt 77pt">Toronto, Ontario,
Canada M5S 2B4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 235.8pt 0pt 77pt">Attention: Jay S. Hennick</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 250.25pt 0pt 77pt">Email: jay.hennick@colliers.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 250.25pt 0pt 77pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 250.25pt 0pt 77pt">With a copy
to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 250.25pt 0pt 77pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 209.55pt 0pt 77pt">Edward Waitzer and Stikeman Elliott LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 209.55pt 0pt 77pt">5300
Commerce Court West</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">199 Bay Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">Toronto, Ontario, Canada M5L 1B9</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 203.7pt 0pt 77pt">Attention: Ed Waitzer and Sean Vanderpol</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin: 0pt 203.7pt 0pt 77pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 94%"><FONT STYLE="font-size: 10pt">ewaitzer@waitzerlaw.com</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">svanderpol@stikeman.com</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 5pt; text-align: justify">or at such other address, fax
number or email address of which the addressee may from time to time may notify the addressor. Any notice delivered before 5:00
p.m. on a Business Day in the place of delivery shall be deemed to have been validly and effectively given and received on the
date of such delivery. If such day is not a Business Day, or if the notice is received after 5:00 p.m. (addressee&#8217;s local
time), then the notice shall be deemed to have been given and received on the next Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 4.8 Severability</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 5pt; text-align: justify">Any provision of this Agreement
which is invalid, prohibited or unenforceable in any jurisdiction for any reason shall, as to such jurisdiction only, be ineffective
and severable from this Agreement to the extent of such invalidity, prohibition or unenforceability but such invalidity, prohibition
or unenforceability shall not invalidate or otherwise affect the remaining provisions of this Agreement nor shall it affect the
validity or enforceability of such provision in any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 4.9 Counterparts</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 5pt; text-align: justify">This Agreement may be executed
in several counterparts, by original or facsimile signature or by or through such other electronic form in which a Party may place
or evidence its signature hereon (including an electronic scan of same), each of which so executed shall be deemed to be an original
and such counterparts together shall be deemed to be one and the same instrument, which shall be deemed to be executed as of the
date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 4.10 Governing Law</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 5pt; text-align: justify">This Agreement shall be governed
by and construed in accordance with the internal laws of the Province of Ontario (without giving effect to principles of conflicts
of laws) and the federal laws of Canada applicable therein and this Agreement shall in all respects be treated as an Ontario contract.
The Parties irrevocably attorn to the jurisdiction of the courts of the Province of Ontario to resolve any dispute which may arise
among them concerning this Agreement and the subject matters hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: justify">Section 4.11 Remedies</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5pt; text-align: justify">Unless otherwise expressly
provided herein, to the fullest extent permitted by applicable Laws, if any dispute, claim or other matter should arise concerning
the interpretation, performance or breach of this Agreement or any action taken by a Party pursuant to this Agreement (such dispute,
claim or other matter being referred to as a &#8220;<B>Dispute</B>&#8221;), such Dispute shall be determined by arbitration conducted
by one arbitrator in the City of Toronto, Ontario in accordance with the <I>Arbitration Act, 1991 </I>(Ontario) (as amended) and
a Party seeking arbitration of a Dispute shall so notify the other Parties by notice in writing (an &#8220;<B>Arbitration Notice</B>&#8221;),
which Arbitration Notice shall set out reasonable particulars of the Dispute in respect of which arbitration is so being sought.
Nothing in this Section 4.11 shall preclude a Party from instituting legal action seeking equitable relief in order to protect
its rights pending the outcome of an arbitration hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119.2pt 0pt 118.5pt; text-align: center"><B><I>[Remainder of this
page intentionally left blank.]</I></B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119.2pt 0pt 118.5pt; text-align: center"><B><I></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt"><B>IN WITNESS WHEREOF</B> the Parties hereto have caused
this Agreement to be duly executed as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COLLIERS GROUP INTERNATIONAL INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 5%">By: </TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"> <I>&lt;Signed&gt; Peter Cohen</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Peter Cohen</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Lead Director and Chair of the Special Committee</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>HENSET CAPITAL INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">By: </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <I>&lt;Signed&gt; Jay S. Hennick</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Jay S. Hennick</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: President and Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>&lt;Signed&gt; Lynda Cralli</I>&#9;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Lynda Cralli</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Secretary</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 178.8pt 0pt 178.05pt; text-align: center; text-indent: 0.05pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 178.8pt 0pt 178.05pt; text-align: center; text-indent: 0.05pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 178.8pt 0pt 178.05pt; text-align: center; text-indent: 0.05pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 178.8pt 0pt 178.05pt; text-align: center; text-indent: 0.05pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 178.8pt 0pt 178.05pt; text-align: center; text-indent: 0.05pt"></P>

<!-- Field: Page; Sequence: 17 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Schedule
&#8220;A&#8221;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Registration Procedures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">1.</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">In connection with the Corporation&#8217;s Demand Registration and Piggy-Back
Registration obligations pursuant to this Agreement, the Corporation will use reasonable best efforts to effect the qualification
or registration for the offer and sale or other disposition or Distribution of Registrable Securities held by Henset and/or its
Permitted Assignees in accordance with the intended method or methods of distribution thereof as expeditiously as reasonably practicable,
and in connection therewith the Corporation will:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 5.6pt">prepare and file as promptly as practicable after the request for a Demand
Registration has been delivered, in the English language and, if required, French language, with the applicable Securities Regulators,
a preliminary Canadian Prospectus and/or Registration Statement under and in compliance with applicable securities laws relating
to the applicable Demand Registration, including all exhibits, financial statements and such other related documents required by
the applicable Securities Regulators to be filed therewith; provided, that the Corporation will furnish to Henset and the managing
underwriters or underwriters, if any, copies of such preliminary Canadian Prospectus or Registration Statement and any amendments
or supplements that the Corporation intends to file at least three (3) Business Days prior to their intended filing date, and shall
make such changes in such documents concerning Henset and its Permitted Assignees as they, or their counsel, may reasonably request,
and shall not file any Registration Statement or Canadian Prospectus or amendments or supplements thereto to which Henset and/or
its Permitted Assignees, or the underwriters, if any, shall reasonably object;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">prepare and file with the applicable Securities Regulators such
                                                             amendments and post- effective amendments to the Registration Statement, such supplements to the U.S. Prospectus and such
                                                             amendments and supplements to the Canadian Prospectus as may be (x) reasonably requested by Henset and/or its Permitted
                                                             Assignees, or (y) necessary to keep such
Registration Statement effective for the period of time required by this Agreement or to continue to qualify such Registrable Securities
for distribution as required by this Agreement, and comply with provisions of the applicable securities laws with respect to the
sale or other disposition of all securities covered by such Registration during such period in accordance with the intended method
or methods of disposition by the sellers thereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 77pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">notify Henset and/or its Permitted Assignees and the managing underwriter
or underwriters, if any, and (if requested) confirm such notice in writing and provide copies of the relevant documents, as soon
as reasonably practicable after notice thereof is received by the Corporation (i) when the applicable Registration Statement or
any amendment thereto has been filed or becomes effective, and when the applicable U.S. Prospectus, Canadian Prospectus, or any
amendment or supplement thereto, has been filed (and, in the case of a Canadian Prospectus, when a receipt or mutual reliance review
decision document, as applicable, has been issued therefor), (ii) of any written comments
by the Securities Regulators, or any request by the Securities Regulators or other governmental authority in any jurisdiction for
amendments or supplements to any such Registration Statement, U.S. Prospectus or Canadian Prospectus or to any marketing materials,
or for additional information (whether before or after the effective date of the Registration Statement) or any other correspondence
with the Securities Regulators relating to, or which may affect, the Registration, (iii) of the issuance by the Securities Regulators
of any stop order suspending the effectiveness of such Registration Statement or any order by the</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 77pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 77pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 77pt; text-align: justify">Securities Regulators or
any other regulatory authority preventing or suspending the use of any preliminary or final U.S. Prospectus or Canadian Prospectus
or marketing materials, or the initiation or threatening of any proceedings for such purposes, (iv) if, at any time, the representations
and warranties of the Corporation in any applicable underwriting agreement cease to be true and correct in all material respects
and (v) of the receipt by the Corporation of any notification with respect to the suspension of the qualification of the Registrable
Securities for offering, sale or distribution in any jurisdiction or the initiation or threatening of any proceeding for such purpose;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">promptly notify Henset and/or its Permitted Assignees and the managing underwriter
or underwriters, if any, when the Corporation becomes aware of the happening of any event as a result of which any applicable Registration
Statement or the U.S. Prospectus included in such Registration Statement (as then in effect) contains any untrue statement of a
material fact or omits to state a material fact necessary to make the statements therein (in the case of such U.S. Prospectus or
any preliminary U.S. Prospectus, in light of the circumstances under which they were made) not misleading or as a result of which
any Canadian Prospectus or marketing materials would contain a misrepresentation or a statement otherwise misleading or untrue,
when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the Registration
Statement, or if for any other reason it shall be necessary during such time period to amend or supplement such Registration Statement,
U.S. Prospectus, Canadian Prospectus or marketing materials in order to comply with the U.S. Securities Act or Canadian
Securities Laws and, as promptly as reasonably practicable thereafter, prepare and file with the SEC and/or the applicable Canadian
Securities Regulator, and furnish without charge to Henset and/or its Permitted Assignees and the managing underwriter or underwriters,
if any, an amendment or supplement to such Registration Statement, U.S. Prospectus, Canadian Prospectus or marketing materials
which shall correct such misstatement or omission or effect such compliance;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 77pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD STYLE="text-align: justify; padding-right: 5.85pt">use its reasonable best efforts to prevent, or obtain the withdrawal of
any stop order, cease trade order or other order suspending the use of any Canadian Prospectus or Registration Statement or suspending
any qualification of the Registrable Securities covered by such Canadian Prospectus or Registration Statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(f)</TD><TD STYLE="text-align: justify; padding-right: 5.6pt">promptly incorporate in a U.S. Prospectus supplement, Issuer Free Writing
Prospectus or post-effective amendment such information as the managing underwriter or underwriters and the selling Holders agree
should be included therein relating to the plan of distribution with respect to such Registrable Securities; and make all required
filings of such U.S. Prospectus supplement, Issuer Free Writing Prospectus or post- effective amendment as soon as reasonably practicable
after being notified of the matters to be incorporated in such U.S. Prospectus supplement, Issuer Free Writing Prospectus or post-effective
amendment;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(g)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">furnish to Henset and/or its Permitted Assignees and each underwriter, if
any, without charge, as many conformed copies as they may reasonably request of any applicable Registration Statement or Canadian
Prospectus and any amendment or post-effective amendment or supplement thereto, including financial statements and schedules, all
documents incorporated therein by reference and all exhibits (including those incorporated by reference);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(h)</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">deliver to Henset and/or its Permitted Assignees and the underwriters, if
any, as many copies of the Canadian Prospectus or Registration Statement, as applicable, and any</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 77pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 77pt; text-align: justify">amendment or supplement thereto
as such Persons may reasonably request (it being understood that the Corporation consents to the use of the Canadian Prospectus
and any Registration Statement or any amendment thereto by Henset and/or its Permitted Assignees and the underwriters, if any,
in connection with the offering and sale of the Registrable Securities covered by the Canadian Prospectus and the Registration
Statement or any amendment or supplement thereto) and such other documents as Henset and/or its Permitted Assignees may reasonably
request in order to facilitate the disposition of the Registrable Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(i)</TD><TD STYLE="text-align: justify; padding-right: 5.65pt">use reasonable best efforts to make available its employees and personnel
for participation in a customary offering marketing process, including investor meetings, conference calls, a &#8220;road show&#8221;
and other marketing efforts and otherwise provide reasonable assistance to the managing underwriter or underwriters, taking into
account the requirements of the marketing process, in the marketing of Registrable Securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(j)</TD><TD STYLE="text-align: justify; padding-right: 5.6pt">on or prior to the date on which a receipt is issued for the Canadian Prospectus
or Registration Statement by the applicable Securities Regulators, use reasonable best efforts to qualify, and cooperate with Henset
and/or its Permitted Assignees, the managing underwriter, underwriters or agent, if any, and their respective counsel in connection
with the qualification of such Registrable Securities for offer and sale under applicable securities laws of each applicable jurisdiction
as any such Person, underwriter or agent reasonably requests in writing provided that the Corporation will not be required to qualify
generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to
general service of process in any such jurisdiction where it is not then so subject;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(k)</TD><TD STYLE="text-align: justify; padding-right: 5.85pt">in connection with any underwritten offering, enter into customary agreements,
including an underwriting agreement with the underwriter or underwriters, such agreements to contain such representations and warranties
by the Corporation and such other terms and provisions as are customarily contained in underwriting agreements with respect to
secondary distributions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.95pt"></TD><TD STYLE="width: 36.05pt">(l)</TD><TD STYLE="text-align: left">use its reasonable best efforts to obtain:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 77pt"></TD><TD STYLE="width: 36pt">(i)</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">a customary legal opinion, in the form and substance as is customarily given
by company counsel in securities offerings, addressed to Henset and/or its applicable Permitted Assignees and the underwriters,
if any, and such other Person as Henset may reasonably specify;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 77pt"></TD><TD STYLE="width: 36pt">(ii)</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">a letter from the Corporation&#8217;s auditors, in form and substance as
is customarily given by auditors in securities offerings, addressed to Henset and/or its applicable Permitted Assignees and the
underwriters, if any, and such other Person as Henset may reasonably specify; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 77pt"></TD><TD STYLE="width: 36pt">(iii)</TD><TD STYLE="text-align: justify; padding-right: 5.8pt">if the Canadian Prospectus is filed in Qu&eacute;bec, opinions of Qu&eacute;bec
counsel for the Corporation and the auditors of the Corporation addressed to Henset and/or its applicable Permitted Assignees and
the underwriters, if any, and such other Person as Henset may reasonably specify, and relating to the translation of the Canadian
Prospectus and the respective documents incorporated by reference therein;</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(m)</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">furnish to Henset and/or its Permitted Assignees and the managing underwriter
or underwriters, if any, and such other Person as Henset may reasonably specify, such corporate certificates, satisfactory to Henset
acting reasonably, as are customarily furnished in securities offerings, and, in each case, covering substantially the same matters
as are customarily covered in such documents in the relevant jurisdictions and such other matters as Henset may reasonably request;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(n)</TD><TD STYLE="text-align: justify; padding-right: 5.8pt">use its reasonable best efforts to cause all of the Registrable Securities
to be listed and posted for trading on each securities exchange on which any of the Corporation&#8217;s equity securities are then
listed or quoted and on each inter-dealer quotation system on which any of the Corporation&#8217;s equity securities are then quoted;
and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 36pt">(o)</TD><TD STYLE="text-align: justify; padding-right: 5.95pt">take such other actions and execute and deliver such other documents as
may be reasonably necessary to give full effect to the rights of Henset and/or its Permitted Assignees under this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5pt"></TD><TD STYLE="width: 36pt">2.</TD><TD STYLE="text-align: justify; padding-right: 5.75pt">The Corporation may require Henset and/or its Permitted Assignees to furnish
to the Corporation such information regarding the Distribution of such securities and such other information relating to Henset
and its ownership of Subordinate Voting Shares and Multiple Voting Shares as the Corporation may from time to time reasonably request
in writing as may be required by the Corporation to comply with applicable securities laws in each jurisdiction in which a Demand
Registration or Piggy-Back Registration is to be effected. Henset agrees to furnish such information to the Corporation and to
cooperate with the Corporation as necessary to enable the Corporation to comply with the provisions of this Agreement and applicable
securities laws.</TD></TR></TABLE>



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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exh_992.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><B><I>Execution Version</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>SIXTH AMENDMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>TO SECOND AMENDED
AND RESTATED CREDIT AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 15pt">THIS SIXTH AMENDMENT TO SECOND AMENDED AND
RESTATED CREDIT AGREEMENT <FONT STYLE="font-weight: normal">(the </FONT><B>Sixth Amendment</B>) is executed by the parties
hereto as of the 1st day of April, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt"></TD><TD STYLE="width: 72pt"><B>AMONG:</B></TD><TD STYLE="text-align: justify; padding-right: 24.8pt"><B>COLLIERS INTERNATIONAL GROUP INC.</B>, as Canadian Borrower (the <B>Canadian
Borrower</B>)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 15pt">&nbsp;</TD>
    <TD STYLE="width: 72pt; font-weight: bold">AND:</TD>
    <TD STYLE="text-align: left"><B>COLLIERS INTERNATIONAL HOLDINGS (USA), INC.</B>, as U.S. Borrower (<B>the US Borrower</B>)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">AND:</TD>
    <TD STYLE="text-align: left"><B>GLOBESTAR LIMITED</B>, as a UK Borrower (<B>Globestar</B>)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">AND:</TD>
    <TD STYLE="font-weight: normal; text-align: left"><B>COLLIERS INTERNATIONAL EMEA HOLDINGS LIMITED</B>, as a UK Borrower (<B>EMEA
    Holdings</B>)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">AND:</TD>
    <TD STYLE="text-align: left"><B>COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED</B>, as Australian Borrower (the <B>Australian
    Borrower</B>, and together with the Canadian Borrower, the US Borrower, Globestar, EMEA Holdings, collectively, the <B>Borrowers</B>)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">AND:</TD>
    <TD STYLE="text-align: left"><B>THE SUBSIDIARIES NAMED ON THE EXECUTION PAGES HEREOF</B>, as Guarantors (the <B>Guarantors</B>)</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt"></TD><TD STYLE="width: 72pt"><B>AND:</B></TD><TD STYLE="text-align: justify; padding-right: 25.1pt"><B>THE BANKS NAMED ON THE EXECUTION PAGES HEREOF</B>, as Lenders (collectively,
the <B>Lenders</B> and each individually the <B>Lender</B>)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 15pt">&nbsp;</TD>
    <TD STYLE="width: 72pt; font-weight: bold">AND:</TD>
    <TD STYLE="text-align: left"><B>TORONTO DOMINION (TEXAS) LLC</B>, as the U.S. administration agent (the <B>U.S. Agent</B>)</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt"></TD><TD STYLE="width: 72pt"><B>AND:</B></TD><TD STYLE="text-align: justify; padding-right: 25pt"><B>THE TORONTO-DOMINION BANK, LONDON BRANCH</B>, as European administration
agent (the <B>European Agent</B>)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt"></TD><TD STYLE="width: 72pt"><B>AND:</B></TD><TD STYLE="text-align: justify; padding-right: 24.95pt"><B>HSBC BANK AUSTRALIA LIMITED</B>, as Australian administration agent
(the <B>Australian Agent</B>)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt"></TD><TD STYLE="width: 72pt"><B>AND:</B></TD><TD STYLE="text-align: justify; padding-right: 25.05pt"><B>THE TORONTO-DOMINION BANK</B>, as the administration agent, as the collateral
agent and as the Canadian administration agent (in its capacity as the collateral agent, the <B>Collateral Agent</B>, in its capacity
as the administration agent, the <B>Administration Agent</B> and in its capacity as the Canadian administration agent, the <B>Canadian
Agent</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 15pt; text-align: justify; text-indent: 35.95pt"><B>WHEREAS
</B>the Borrowers, the Guarantors, the Lenders, the Administration Agent, the Collateral Agent, Canadian Agent, the U.S. Agent,
the European Agent, the Australian Agent (collectively, the <B>Agents</B>), TD Securities, as Sole Lead Arranger and Sole Bookrunner,
Bank of Montreal and HSBC Bank Canada, as Syndication Agents, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd. and U.S. Bank, National
Association, as Documentation Agents, among others, have entered into a second amended and restated credit agreement dated April
19, 2018, as amended by a first amendment to second amended and restated credit agreement dated as of April 4, 2019, a second amendment
to second amended and restated credit agreement dated as of September 13, 2019, a third amendment to second amended and restated
credit agreement dated as of March 27, 2020, a fourth amendment to second amended and restated credit agreement dated as of May
13, 2020 and a fifth amendment to second amended and restated credit agreement dated as of October 8, 2020 (the <B>Existing Credit
Agreement</B>, and as amended by this Sixth Amendment and as may be further amended, restated, amended and restated, supplemented,
replaced and otherwise modified from time to time, the <B>Credit Agreement</B>);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.15pt 0pt 15pt; text-align: justify; text-indent: 35.95pt"><B>AND
WHEREAS </B>the Borrowers have advised the Agents and the Lenders that (a) the Canadian Borrower has agreed to directly or indirectly
acquire all of the issued and outstanding shares of Jayset</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.75pt 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.75pt 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.9pt 0pt 15pt; text-align: justify">Management CIG Inc.
(<B>Jayset Mgt</B>) from Jayset Capital Corp (the <B>Seller</B>), for the purchase price of Cdn.$601,311,951 (approximately
U.S.$475,200,000) (the <B>Jayset Purchase Price</B>), which will be satisfied through (i) the payment of Cdn.$120,262,390
(approximately U.S. $95,000,000) to the Seller as cash consideration (with, in whole or in part, proceeds from the facilities
under the Credit Agreement) and (ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp; </FONT>the issuance
of a total of 3,572,858 subordinate voting shares to the Seller, representing the value of the balance of the purchase price
(the <B>Jayset Mgt Purchase</B>), and (b) immediately following the completion of the Jayset Mgt Purchase, a certain restated
management services agreement dated June 1, 2015 made between the Canadian Borrower, Jayset Mgt and Mr. Jay S. Hennick, as
amended, which provides for payments to Jayset Mgt that are contingent, among other things, upon an arm&#8217;s length sale
of control of the Canadian Borrower or upon a distribution of the Canadian Borrower&#8217;s assets to its shareholders
pursuant to a long-term incentive arrangement contained within such restated management services agreement, will be
terminated (hereinafter, collectively and together with the Jayset Mgt Purchase, the <B>Transactions</B>);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 15pt; text-align: justify; text-indent: 35.95pt"><B>AND
WHEREAS </B>the Borrowers have requested that, <I>inter alia</I>, the Agents and the Lenders consent to the Transactions and waive
compliance with certain provisions of the Credit Agreement for the purpose of, and in order to accommodate, the Transactions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 15pt; text-align: justify; text-indent: 35.95pt"><B>AND
WHEREAS </B>the Agents and the Lenders have agreed to consent to the Transactions and to waive compliance with certain provisions
of the Credit Agreement for the purpose of, and in order to accommodate, the Transactions, and to amend certain provisions of the
Existing Credit Agreement (collectively, the <B>Amendments</B>), but only to the extent and subject to the provisions set forth
in this Sixth Amendment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.15pt 0pt 15pt; text-align: justify; text-indent: 35.95pt"><B>NOW
THEREFORE</B>, for good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereby agree as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE 1 &#8211;
INTERPRETATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 15pt; text-align: justify; text-indent: 0in">1.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Capitalized terms referred to and not defined herein shall have the meanings ascribed thereto in the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.45pt 0pt 15pt; text-align: justify; text-indent: 0in">1.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each of the Borrowers and each of the Guarantors agrees that the recitals form an integral part of this Sixth Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE 2 &#8211;
CONSENTS UNDER THE CREDIT AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.05pt 0pt 15pt; text-align: justify; text-indent: 0in">2.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding any provision of the Credit Agreement (including, inter alia, Sections 2.12, 8.3(d) and 8.3(f)(i) thereof),
but subject to Section 2.2 and 2.3 hereof, the Agents and the Lenders hereby consent to the Transactions and agree that the Transactions,
pursuant to such consent, are otherwise deemed permitted by the terms thereof and that for avoidance of doubt, the Jayset Mgt Purchase
shall be exempt from consideration as to its application as an Eligible Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.8pt 0pt 15pt; text-align: justify; text-indent: 0in">2.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Concurrent with the completion of the Transactions, the Canadian Borrower shall provide the Collateral Agent with evidence
of the due execution and delivery of the documents, instruments and things required to consummate the Transactions and, promptly
upon receipt thereof, evidence of the requisite approvals related to the Transactions from the Toronto Stock Exchange together
with such other documents, instruments or things as may be reasonably requested by the Collateral Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.9pt 0pt 15pt; text-align: justify; text-indent: 0in">2.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To the extent that the Transactions impact the calculation of Consolidated EBITDA for any period, the Jayset Purchase Price
shall be added back for purposes of such calculation for such period.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE 3 &#8211; AMENDMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 15pt; text-align: justify; text-indent: 0in">3.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>With effect as of the Amendment Effective Date (as defined herein), the definitions &#8220;<B>LIBO Successor Rate</B>&#8221;
and &#8220;<B>LIBOR Scheduled Unavailability Date</B>&#8221; appearing in Section 1.1 of the Existing Credit Agreement are hereby
deleted in their entirety.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 15pt; text-align: justify; text-indent: 0in">3.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>With effect as of the Amendment Effective Date, the definition &#8220;<B>LIBOR Screen Rate</B>&#8221; appearing in Section
1.1 of the Existing Credit Agreement is hereby deleted in its entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.9pt 0pt 51pt; text-align: justify">&#8220;&#8220;<B>LIBO Screen
Rate</B>&#8221; means, for any day and time, with respect to any LIBOR Loan denominated in any Agreed Currency (other than Canadian
Dollars and Australian Dollars) and for any LIBOR Interest Period, the London interbank offered rate as administered by ICE Benchmark
Administration (or any other Person that takes over the administration of such rate) for such Agreed Currency for a period equal
in length to such LIBOR Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that
displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page
on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from
time to time as selected by the Administration Agent in its reasonable discretion); provided that if the LIBO Screen Rate as so
determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.1pt 0pt 15pt; text-align: justify; text-indent: 0in">3.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>With effect as of the Amendment Effective Date, Section 1.1 of the Existing Credit Agreement is hereby amended by adding
the following new definitions in the appropriate alphabetical order:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 98pt 0pt 51pt; text-align: justify">&#8220;&#8220;<B>Agreed Currencies</B>&#8221;
means U.S. Dollars and each Alternative Currency. &#8220;<B>Alternative Currency</B>&#8221; means Sterling, Euros and the Other
Agreed Currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.8pt 0pt 51pt; text-align: justify">&#8220;<B>Available Tenor</B>&#8221;
means, as of any date of determination and with respect to the then-current Benchmark, as applicable, any tenor for such Benchmark
or payment period for interest calculated with reference to such Benchmark, as applicable, that is or may be used for determining
the length of an Interest Period pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any
tenor for such Benchmark that is then-removed from the definition of &#8220;Interest Period&#8221; pursuant to clause (f) of Section
4.15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.75pt 0pt 51pt; text-align: justify">&#8220;<B>Benchmark</B>&#8221;
means, initially, the Relevant Rate; provided that if a Benchmark Transition Event, a Term SOFR Transition Event, a Term ESTR Transition
Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred with respect to the
Relevant Rate or the then-current Benchmark, then &#8220;Benchmark&#8221; means the applicable Benchmark Replacement to the extent
that such Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (b) or clause (c) of Section 4.15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.9pt 0pt 51pt; text-align: justify">&#8220;<B>Benchmark Replacement</B>&#8221;
means, for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administration
Agent for the applicable Benchmark Replacement Date; <U>provided</U> that, in the case of any Loan denominated in an Other Agreed
Currency, &#8220;Benchmark Replacement&#8221; shall mean the alternative set forth in (3) below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">(1)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 123pt"></TD><TD STYLE="width: 36.05pt">(A)</TD><TD STYLE="text-align: left; padding-right: 24.75pt">in the case of any Loan denominated in U.S. Dollars, the sum of: (a) Term
SOFR and (b) the related Benchmark Replacement Adjustment;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 123pt"></TD><TD STYLE="width: 36.05pt">(B)</TD><TD STYLE="text-align: left; padding-right: 24.75pt">in the case of any Loan denominated in Sterling, the sum of: (a) Daily Simple
SONIA and (b) the related Benchmark Replacement Adjustment;</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 123pt"></TD><TD STYLE="width: 36.05pt">(C)</TD><TD STYLE="text-align: left; padding-right: 24.9pt">in the case of any Loan denominated in Euros, the sum of: (a) Term ESTR and
(b) the related Benchmark Replacement Adjustment;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">(2)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 123pt"></TD><TD STYLE="width: 36.05pt">(A)</TD><TD STYLE="text-align: justify; padding-right: 24.75pt">in the case of any Loan denominated in U.S. Dollars, the sum of: (a) Daily
Simple SOFR and (b) the related Benchmark Replacement Adjustment;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 123pt"></TD><TD STYLE="width: 36.05pt">(B)</TD><TD STYLE="text-align: justify; padding-right: 24.75pt">in the case of any Loan denominated in Euros, the sum of: (a) Daily Simple
ESTR and (b) the related Benchmark Replacement Adjustment;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 51pt; text-align: justify; text-indent: 38.75pt">(3)
the sum of: (a) the alternate benchmark rate that has been selected by the Administration Agent and the Borrowers as the replacement
for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation
of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving
or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for syndicated
credit facilities denominated in the applicable Agreed Currency at such time and (b) the related Benchmark Replacement Adjustment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.8pt 0pt 51pt; text-align: justify; text-indent: 0.5in"><U>provided
that</U>, in the case of clause (1)(A) or 1(C), such Unadjusted Benchmark Replacement is displayed on a screen or other information
service that publishes such rate from time to time as selected by the Administration Agent in its reasonable discretion; <U>provided
further</U> that, (x) with respect to any Loan denominated in U.S. Dollars, notwithstanding anything to the contrary in this Agreement
or in any other Loan Document, upon the occurrence of a Term SOFR Transition Event, and the delivery of a Term SOFR Notice, on
the applicable Benchmark Replacement Date the &#8220;Benchmark Replacement&#8221; shall revert to and shall be deemed to be the
sum of (a) Term SOFR and (b) the related Benchmark Replacement Adjustment, as set forth in clause (1)(A) of this definition (subject
to the first proviso above), and (y) with respect to any Loan denominated in Euros, notwithstanding anything to the contrary in
this Agreement or in any other Loan Document, upon the occurrence of a Term ESTR Transition Event, and the delivery of a Term ESTR
Notice, on the applicable Benchmark Replacement Date the &#8220;Benchmark Replacement&#8221; shall revert to and shall be deemed
to be the sum of (a) Term ESTR and (b) the related Benchmark Replacement Adjustment, as set forth in clause (1)(C) of this definition
(subject to the first proviso above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.25pt 0pt 51pt; text-align: justify; text-indent: 0.5in">If the
Benchmark Replacement as determined pursuant to clause (1), (2) or (3) above would be less than the Floor, the Benchmark Replacement
will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify">&#8220;<B>Benchmark Replacement
Adjustment</B>&#8221; means, with respect to any replacement of the then- current Benchmark with an Unadjusted Benchmark Replacement
for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.45pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>for purposes of clauses (1) and (2) of the definition of &#8220;Benchmark Replacement,&#8221; the first alternative set
forth in the order below that can be determined by the Administration Agent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.1pt 0pt 87pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative
value or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected
or recommended by the Relevant Governmental Body for the replacement of such Benchmark with the applicable Unadjusted Benchmark
Replacement for the applicable Corresponding Tenor; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 87pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 87pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>the spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement
is first set for such Interest Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions
to be effective upon an index cessation event with respect to such Benchmark for the applicable Corresponding Tenor; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>for purposes of clause (3) of the definition of &#8220;Benchmark Replacement,&#8221; the spread adjustment, or method for
calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by
the Administration Agent and the Borrowers for the applicable Corresponding Tenor giving due consideration to (i) any selection
or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement
of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark
Replacement Date and/or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for
calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark
Replacement for syndicated credit facilities denominated in the applicable Agreed Currency;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.15pt 0pt 51pt; text-align: justify; text-indent: 0.5in"><U>provided
that</U>, in the case of clause (1) above, such adjustment is displayed on a screen or other information service that publishes
such Benchmark Replacement Adjustment from time to time as selected by the Administration Agent in its reasonable discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.8pt 0pt 51pt; text-align: justify">&#8220;<B>Benchmark Replacement
Conforming Changes</B>&#8221; means, with respect to any Benchmark Replacement, any technical, Administration or operational changes
(including changes to the definition of &#8220;Alternate Base Rate,&#8221; the definition of &#8220;Business Day,&#8221; the definition
of &#8220;Interest Period,&#8221; timing and frequency of determining rates and making payments of interest, timing of borrowing
requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions,
and other technical, administrative or operational matters) that the Administration Agent decides may be appropriate to reflect
the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administration Agent
in a manner substantially consistent with market practice (or, if the Administration Agent decides that adoption of any portion
of such market practice is not administratively feasible or if the Administration Agent determines that no market practice for
the administration of such Benchmark Replacement exists, in such other manner of administration as the Administration Agent decides
is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 51pt; text-align: justify">&#8220;<B>Benchmark Replacement
Date</B>&#8221; means, with respect to any Benchmark, the earliest to occur of the following events with respect to such then-current
Benchmark:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 51pt; text-align: justify; text-indent: 0.5in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>in the case of clause (1) or (2) of the definition of &#8220;Benchmark Transition Event,&#8221; the later of (a) the date
of the public statement or publication of information referenced therein and (b) the date on which the administrator of such Benchmark
(or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors
of such Benchmark (or such component thereof);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.45pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>in the case of clause (3) of the definition of &#8220;Benchmark Transition Event,&#8221; the date of the public statement
or publication of information referenced therein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.7pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>in the case of a Term SOFR Transition Event or a Term ESTR Transition Event, as applicable, the date that is thirty (30)
days after the date a Term SOFR Notice or a Term ESTR Notice, as applicable, is provided to the Lenders and the Borrowers pursuant
to Section 4.15(c); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 51pt; text-align: justify; text-indent: 0.5in">(4)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>in the case of an Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election
is provided to the Lenders, so long as the Administration</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 51pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 51pt; text-align: justify">Agent has not received, by
5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided
to the Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising the Majority Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.9pt 0pt 51pt; text-align: justify; text-indent: 0.5in">For the
avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than,
the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the
Reference Time for such determination and (ii) the &#8220;Benchmark Replacement Date&#8221; will be deemed to have occurred in
the case of clause (1) or (2) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein
with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.15pt 0pt 51pt; text-align: justify">&#8220;<B>Benchmark Transition
Event</B>&#8221; means, with respect to any Benchmark, the occurrence of one or more of the following events with respect to such
then-current Benchmark:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.7pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published
component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available
Tenors of such Benchmark (or such component thereof), permanently or indefinitely, <U>provided that</U>, at the time of such statement
or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such
component thereof);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.8pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or
the published component used in the calculation thereof), the Federal Reserve Board, the NYFRB, an insolvency official with jurisdiction
over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator
for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator
for such Benchmark (or such component), in each case which states that the administrator of such Benchmark (or such component)
has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely;
<U>provided that</U>, at the time of such statement or publication, there is no successor administrator that will continue to provide
any Available Tenor of such Benchmark (or such component thereof); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(3)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or
the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component
thereof) are no longer representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.05pt 0pt 51pt; text-align: justify; text-indent: 0.5in">For
the avoidance of doubt, a &#8220;Benchmark Transition Event&#8221; will be deemed to have occurred with respect to any Benchmark
if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor
of such Benchmark (or the published component used in the calculation thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.8pt 0pt 51pt; text-align: justify">&#8220;<B>Benchmark
Unavailability Period</B>&#8221; means, with respect to any Benchmark, the period (if any) (x)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp; </FONT>beginning
at the time that a Benchmark Replacement Date pursuant to clauses (1) or (2) of that definition has occurred if, at such
time, no Benchmark Replacement has replaced such then- current Benchmark for all purposes hereunder and under any Loan
Document in accordance with Section 4.15 and (y) ending at the time that a Benchmark Replacement has replaced such then-
current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 4.15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify">&#8220;<B>Corresponding
Tenor</B>&#8221; with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest
payment period having approximately the same length (disregarding Business Day adjustment) as such Available Tenor.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.8pt 0pt 51pt; text-align: justify">&#8220;<B>Daily Simple ESTR</B>&#8221;
means, for any day, ESTR, with the conventions for this rate (which may include a lookback) being established by the Administration
Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining
&#8220;Daily Simple ESTR&#8221; for business loans; provided, that if the Administration Agent decides that any such convention
is not administratively feasible for the Administration Agent, then the Administration Agent may establish another convention in
its reasonable discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 51pt; text-align: justify">&#8220;<B>Daily Simple SOFR</B>&#8221;
means, for any day, SOFR, with the conventions for this rate (which may include a lookback) being established by the Administration
Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining
&#8220;Daily Simple SOFR&#8221; for business loans; provided that, if the Administration Agent decides that any such convention
is not administratively feasible for the Administration Agent, then the Administration Agent may establish another convention in
its reasonable discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 51pt; text-align: justify">&#8220;<B>Daily Simple SONIA</B>&#8221;
means, for any day, SONIA, with the conventions for this rate (which may include a lookback) being established by the Administration
Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining
&#8220;Daily Simple SONIA&#8221; for business loans; provided that, if the Administration Agent decides that any such convention
is not administratively feasible for the Administration Agent, then the Administration Agent may establish another convention in
its reasonable discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt; text-align: justify">&#8220;<B>Early Opt-in Election</B>&#8221;
means, with respect to any Agreed Currency, the occurrence of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.8pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a notification by the Administration Agent to (or the request by the Borrowers to the Administration Agent to notify) each
of the other parties hereto that syndicated credit facilities denominated in the applicable Agreed Currency being executed at such
time, or that include language similar to that contained in Section 4.15 are being executed or amended, as applicable, to incorporate
or adopt a new benchmark interest rate to replace the Relevant Rate, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.05pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the joint election by the Administration Agent and the Borrowers to declare that an Early Opt-in Election for such Agreed
Currency has occurred and the provision, as applicable, by the Administration Agent of written notice of such election to the Borrowers
and the Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt; text-align: justify">&#8220;<B>Erroneous Payment</B>&#8221;
has the meaning ascribed thereto in Section 13.17(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.1pt 0pt 51pt; text-align: justify">&#8220;<B>Erroneous Payment
Deficiency Assignment</B>&#8221; has the meaning assigned to it in Section 13.17(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt">&#8220;<B>Erroneous Payment Impacted Class</B>&#8221;
has the meaning assigned to it in Section 13.17(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt">&#8220;<B>Erroneous Payment Return Deficiency</B>&#8221; has the meaning assigned
to it in Section 13.17(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt">&#8220;<B>Erroneous Payment Subrogation Rights</B>&#8221; has the meaning assigned to it in Section
13.17(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.65pt 0pt 51pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.65pt 0pt 51pt; text-align: justify">&#8220;<B>ESTR</B>&#8221;
means, with respect to any Business Day, a rate per annum equal to the Euro Short Term Rate for such Business Day published by
the ESTR Administrator on the ESTR Administrator&#8217;s Website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 51pt; text-align: justify">&#8220;<B>ESTR Administrator</B>&#8221;
means the European Central Bank (or any successor administrator of the Euro Short Term Rate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.05pt 0pt 51pt; text-align: justify">&#8220;<B>ESTR Administrator&#8217;s
Website</B>&#8221; means the European Central Bank&#8217;s website, currently at http://www.ecb.europa.eu, or any successor source
for the Euro Short Term Rate identified as such by the ESTR Administrator from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify">&#8220;<B>Floor</B>&#8221;
means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification,
amendment or renewal of this Agreement or otherwise) with respect to LIBOR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt">&#8220;<B>IBA</B>&#8221; has the meaning ascribed thereto
in Section 4.14.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.9pt 0pt 51pt; text-align: justify">&#8220;<B>ISDA Definitions</B>&#8221;
means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto,
as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from
time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt">&#8220;<B>NYFRB</B>&#8221; means the Federal Reserve
Bank of New York and any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt">&#8220;<B>NYFRB&#8217;s Website</B>&#8221; means the
website of the NYFRB at http://www.newyorkfed.org, or any successor source.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 81.45pt 0pt 51pt">&#8220;<B>Other Agreed Currency</B>&#8221; means
Canadian Dollars and Australian Dollars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 81.45pt 0pt 51pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 81.45pt 0pt 51pt">&#8220;<B>Payment Recipient</B>&#8221; has the meaning assigned to it in Section 13.17(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 51pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 51pt; text-align: justify">&#8220;<B>Reference Time</B>&#8221;
with respect to any setting of the then-current Benchmark means (1) if such Benchmark is LIBOR, 11:00 a.m. (London time) on the
day that is two London banking days preceding the date of such setting and (2) if such Benchmark is not LIBOR, the time determined
by the Administration Agent in its reasonable discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify">&#8220;<B>Relevant
Governmental Body</B>&#8221; means (i) with respect to a Benchmark Replacement in respect of Loans denominated in U.S.
Dollars, the Federal Reserve Board and/or the NYFRB, or a committee officially endorsed or convened by the Federal Reserve
Board and/or the NYFRB or, in each case, any successor thereto, (ii) with respect to a Benchmark Replacement in respect of
Loans denominated in Sterling, the Bank of England, or a committee officially endorsed or convened by the Bank of England or,
in each case, any successor thereto, (iii) with respect to a Benchmark Replacement in respect of Loans denominated in Euros,
the European Central Bank, or a committee officially endorsed or convened by the European Central Bank or, in each case, any
successor thereto, and (iv) with respect to a Benchmark Replacement in respect of Loans denominated in any Other Agreed
Currency, (a) the central bank for the currency in which such Benchmark Replacement is denominated or any central bank or
other supervisor which is responsible for supervising either (1) such Benchmark Replacement or (2) the administrator of such
Benchmark Replacement or (b) any working group or committee officially endorsed or convened by (1) the central bank for the
currency in which such Benchmark Replacement is denominated, (2) any central bank or other supervisor that is responsible for
supervising either (A) such Benchmark Replacement or (B) the administrator of such Benchmark Replacement, (3) a group of
those central banks or other supervisors or (4) the Financial Stability Board or any part thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify">&#8220;<B>Relevant Rate</B>&#8221;
means (i) with respect to any Loan denominated in an Agreed Currency (other than Canadian Dollars and Australian Dollars), LIBOR
or (ii) otherwise, the Relevant Screen Rate, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.9pt 0pt 51pt; text-align: justify">&#8220;<B>Relevant Screen
Rate</B>&#8221; means the LIBO Screen Rate, the CDOR Rate, the BBR Screen Rate or such other applicable rate on the appropriate
page of such information service that publishes such rate from time to time as selected by the Administration Agent in its reasonable
discretion, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 51pt; text-align: justify">&#8220;<B>SOFR</B>&#8221;
means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published
by the SOFR Administrator on the SOFR Administrator&#8217;s Website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.35pt 0pt 51pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.35pt 0pt 51pt; text-align: justify">&#8220;<B>SOFR Administrator</B>&#8221;
means the NYFRB (or a successor administrator of the secured overnight financing rate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.9pt 0pt 51pt; text-align: justify">&#8220;<B>SOFR Administrator&#8217;s
Website</B>&#8221; means the NYFRB&#8217;s Website, currently at http://www.newyorkfed.org, or any successor source for the secured
overnight financing rate identified as such by the SOFR Administrator from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 51pt; text-align: justify">&#8220;<B>SONIA</B>&#8221;
means, with respect to any Business Day, a rate per annum equal to the Sterling Overnight Index Average for such Business Day published
by the SONIA Administrator on the SONIA Administrator&#8217;s Website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.25pt 0pt 51pt; text-align: justify">&#8220;<B>SONIA Administrator</B>&#8221;
means the Bank of England (or any successor administrator of the Sterling Overnight Index Average).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify">&#8220;<B>SONIA Administrator&#8217;s
Website</B>&#8221; means the Bank of England&#8217;s website, currently at http://www.bankofengland.co.uk, or any successor source
for the Sterling Overnight Index Average identified as such by the SONIA Administrator from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.05pt 0pt 51pt; text-align: justify">&#8220;<B>Term ESTR</B>&#8221;
means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on ESTR
that has been selected or recommended by the Relevant Governmental Body.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.05pt 0pt 51pt; text-align: justify">&#8220;<B>Term ESTR Notice</B>&#8221;
means a notification by the Administration Agent to the Lenders and the Borrowers of the occurrence of a Term ESTR Transition Event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.8pt 0pt 51pt; text-align: justify">&#8220;<B>Term ESTR Transition
Event</B>&#8221; means the determination by the Administration Agent that (a) Term ESTR has been recommended for use by the Relevant
Governmental Body, (b) the administration of Term ESTR is administratively feasible for the Administration Agent and (c) a Benchmark
Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance
with Section 4.15 that is not Term ESTR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.1pt 0pt 51pt; text-align: justify">&#8220;<B>Term SOFR</B>&#8221;
means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR
that has been selected or recommended by the Relevant Governmental Body.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 51pt; text-align: justify">&#8220;<B>Term SOFR Notice</B>&#8221;
means a notification by the Administration Agent to the Lenders and the Borrowers of the occurrence of a Term SOFR Transition Event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.05pt 0pt 51pt; text-align: justify">&#8220;<B>Term SOFR Transition
Event</B>&#8221; means the determination by the Administration Agent that (a) Term SOFR has been recommended for use by the Relevant
Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administration Agent and (c) a Benchmark
Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance
with Section 4.15 that is not Term SOFR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.05pt 0pt 51pt; text-align: justify">&#8220;<B>Unadjusted Benchmark
Replacement</B>&#8221; means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.1pt 0pt 15pt; text-align: left; text-indent: 0in">3.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>With effect as of the Amendment Effective Date, Section 4.14 of the Existing Credit Agreement is hereby deleted in its entirety
and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt; text-align: justify"><FONT STYLE="font-weight: normal">&#8220;</FONT>Section
4.14 Interest Rates; LIBOR Notification<FONT STYLE="font-weight: normal">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify">The interest rate on a Loan
denominated in U.S. Dollars or an Alternative Currency may be derived from an interest rate benchmark that is, or may in the future
become, the subject of regulatory reform. Regulators have signaled the need to use alternative benchmark reference rates for some
of these interest rate benchmarks and, as a result, such interest rate benchmarks</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.75pt 0pt 51pt; text-align: justify">may cease to comply with
applicable laws and regulations, may be permanently discontinued, and/or the basis on which they are calculated may change. The
London interbank offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from
each other in the London interbank market. On March 5, 2021, the U.K. Financial Conduct Authority (&#8220;<B>FCA</B>&#8221;) publicly
announced that: (a) immediately after December 31, 2021, publication of all seven euro LIBOR settings, all seven Swiss Franc LIBOR
settings, the spot next, 1-week, 2- month and 12-month Japanese Yen LIBOR settings, the overnight, 1-week, 2-month and 12- month
British Pound Sterling LIBOR settings, and the 1-week and 2-month U.S. Dollar LIBOR settings will permanently cease; immediately
after June 30, 2023, publication of the overnight and 12-month U.S. Dollar LIBOR settings will permanently cease; immediately after
December 31, 2021, the 1-month, 3-month and 6-month Japanese Yen LIBOR settings and the 1-month, 3- month and 6-month British Pound
Sterling LIBOR settings will cease to be provided or, subject to consultation by the FCA, be provided on a changed methodology
(or &#8220;synthetic&#8221;) basis and no longer be representative of the underlying market and economic reality they are intended
to measure and that representativeness will not be restored; and immediately after June 30, 2023, the 1-month, 3-month and 6-month
U.S. Dollar LIBOR settings will cease to be provided or, subject to the FCA&#8217;s consideration of the case, be provided on a
synthetic basis and no longer be representative of the underlying market and economic reality they are intended to measure and
that representativeness will not be restored. There is no assurance that dates announced by the FCA will not change or that the
administrator of LIBOR and/or regulators will not take further action that could impact the availability, composition, or characteristics
of LIBOR or the currencies and/or tenors for which LIBOR is published. Each party to this agreement should consult its own advisors
to stay informed of any such developments. Public and private sector industry initiatives are currently underway to identify new
or alternative reference rates to be used in place of LIBOR. Upon the occurrence of a Benchmark Transition Event, a Term SOFR Transition
Event, a Term ESTR Transition Event or an Early Opt-In Election, Section 4.15(b) and (c) provide a mechanism for determining an
alternative rate of interest. The Administration Agent will promptly notify the Borrowers, pursuant to Section 4.15(e), of any
change to the reference rate upon which the interest rate on applicable Loans is based. However, the Administration Agent does
not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission
or any other matter related to LIBOR or other rates in the definition of &#8220;LIBOR&#8221; or with respect to any alternative
or successor rate thereto, or replacement rate thereof (including, without limitation, (i) any such alternative, successor or replacement
rate implemented pursuant to Section 4.15(b) or (c), whether upon the occurrence of a Benchmark Transition Event, a Term SOFR Transition
Event, a Term ESTR Transition Event or an Early Opt-in Election, and (ii) the implementation of any Benchmark Replacement Conforming
Changes pursuant to Section 4.15(d)), including without limitation, whether the composition or characteristics of any such alternative,
successor or replacement reference rate will be similar to, or produce the same value or economic equivalence of, LIBOR or have
the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.35in 0pt 15pt; text-align: justify; text-indent: 0in">3.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>With effect as of the Amendment Effective Date, Article 4 of the Existing Credit Agreement is hereby amended by adding a
new Section 4.15 appearing immediately following Section 4.14 thereof as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt; text-align: justify"><FONT STYLE="font-weight: normal">&#8220;</FONT>Section
4.15 Alternate Rate of Interest<FONT STYLE="font-weight: normal">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 51pt; text-align: justify; text-indent: 0.5in"> (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
[Reserved.]</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding anything to the contrary herein or in any other Loan Document (and any agreement in respect of a Swap Obligation
shall be deemed not to be a &#8220;Loan Document&#8221; for purposes of this Section 4.15), if a Benchmark Transition Event or
an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred prior to the Reference Time in
respect of any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause
(1) or (2) of the definition of &#8220;Benchmark Replacement&#8221; for such Benchmark Replacement Date, such Benchmark Replacement
will</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 51pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify">replace such Benchmark
for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings
without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and
(y)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp; </FONT>if a Benchmark Replacement is determined in
accordance with clause (3) of the definition of &#8220;Benchmark Replacement&#8221; for such Benchmark Replacement Date, such
Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any
Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such
Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party
to, this Agreement or any other Loan Document so long as the Administration Agent has not received, by such time, written
notice of objection to such Benchmark Replacement from Lenders comprising the Majority Lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.75pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding anything to the contrary herein or in any other Loan Document and subject to the proviso below in this paragraph,
with respect to a Loan denominated in an Agreed Currency (other than an Other Agreed Currency), if a Term SOFR Transition Event
or a Term ESTR Transition Event and its related Benchmark Replacement Date, as applicable, have occurred prior to the Reference
Time in respect of any setting of the then-current Benchmark, then the applicable Benchmark Replacement will replace the then-current
Benchmark for all purposes hereunder or under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings,
without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document; <U>provided
that</U>, this clause (c) shall not be effective unless the Administration Agent has delivered to the Lenders and the Borrowers
a Term SOFR Notice or a Term ESTR Notice, as applicable. For the avoidance of doubt, the Administration Agent shall not be required
to deliver any Term SOFR Notice after the occurrence of a Term SOFR Transition Event or any Term ESTR Notice after the occurrence
of a Term ESTR Transition Event, and may do so in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.25pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In connection with the implementation of a Benchmark Replacement, the Administration Agent will have the right to make Benchmark
Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document,
any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent
of any other party to this Agreement or any other Loan Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.75pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>The
Administration Agent will promptly notify the Borrowers and the Lenders of (i) any occurrence of a Benchmark Transition Event
or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date (ii) the implementation of any
Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes, (iv) the removal or
reinstatement of any tenor of a Benchmark pursuant to clause (f) below and (v) the commencement or conclusion of any
Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administration Agent or, if
applicable, any Lender (or group of Lenders) pursuant to this Section 4.15, including any determination with respect to a
tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take
or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in
its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except,
in each case, as expressly required pursuant to this Section 4.15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 51pt; text-align: justify; text-indent: 33.2pt">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Notwithstanding
anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation
of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR, Term ESTR and LIBOR) and
either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate
from time to time as selected by the Administration Agent in its reasonable discretion or (B) the regulatory supervisor for
the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor
for such Benchmark is or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 51pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.9pt 0pt 51pt; text-align: justify">will be no longer
representative, then the Administration Agent may modify the definition of &#8220;Interest Period&#8221; for any Benchmark
settings at or after such time to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed
pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark
(including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is or will no longer
be representative for a Benchmark (including a Benchmark Replacement), then the Administration Agent may modify the
definition of &#8220;Interest Period&#8221; for all Benchmark settings at or after such time to reinstate such previously
removed tenor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.8pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Upon any Borrower&#8217;s receipt of notice of the commencement of a Benchmark Unavailability Period, such Borrower may
revoke any request for a LIBOR Loan of, conversion to or continuation of LIBOR Loans to be made, converted or continued during
any Benchmark Unavailability Period and, failing that, either (x) such Borrower will be deemed to have converted any request for
a LIBOR Loan denominated in U.S. Dollars into a request for a Borrowing of or conversion to U.S. Base Rate Loans or (y) for any
LIBOR Loan denominated in an Alternative Currency, at the option of such Borrower, (1) such Borrower shall have consented to the
maintenance of such Loan at a rate for short term borrowings of the applicable Alternative Currency determined in a customary manner
in good faith by the Administration Agent, (2) solely for the purpose of calculating the interest rate applicable to such Loan,
such Loan shall be deemed to be an Advance denominated in U.S. Dollars, if available, and such Alternative Currency denominated
Loan shall accrue interest at the same interest rate applicable to Advances denominated in U.S. Dollars at such time, if available
or (3) such Advance shall be ineffective. During any Benchmark Unavailability Period or at any time that a tenor for the then-
current Benchmark is not an Available Tenor, the component of U.S. Base Rate based upon the then-current Benchmark or such tenor
for such Benchmark, as applicable, will not be used in any determination of U.S. Base Rate. Furthermore, if any Loan in any Agreed
Currency is outstanding on the date of any Borrower&#8217;s receipt of notice of the commencement of a Benchmark Unavailability
Period with respect to a Relevant Rate applicable to such Loan, then until such time as a Benchmark Replacement for such Agreed
Currency is implemented pursuant to this Section 4.15, (i) if such Loan is denominated in U.S. Dollars, then on the last day of
the interest period applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day), such Loan
shall be converted by the Administration Agent to, and shall constitute, a U.S. Base Rate Loan denominated in U.S. Dollars on such
day or (ii) if such Loan is denominated in any Agreed Currency other than U.S. Dollars, then such Loan shall, on the last day of
the interest period applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day), at such Borrower&#8217;s
election prior to such day: (A) be prepaid by such Borrower on such day, (B) solely for the purpose of calculating the interest
rate applicable to such Loan, deemed to be a Loan denominated in U.S. Dollars, if available, and such Loan shall accrue interest
at the same interest rate applicable to Loans denominated in U.S. Dollars at such time, if available or (C) maintained at a rate
for short term borrowings of the applicable Alternative Currency determined in a customary manner in good faith by the Administration
Agent as consented to by such Borrower.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 15pt; text-align: justify; text-indent: 0in">3.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>With effect as of the Amendment Effective Date, Article 13 of the Existing Credit Agreement is hereby amended by adding
a new Section 13.17 appearing immediately following Section 13.16 thereof as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt; text-align: justify"><FONT STYLE="font-weight: normal">&#8220;</FONT>13.17
Erroneous Payments<FONT STYLE="font-weight: normal">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify; text-indent: 0in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Administration Agent notifies a Lender or Issuing Bank, or any Person who has received funds on behalf of a Lender
or Issuing Bank such Lender or Issuing Bank (any such Lender or Issuing Bank or other recipient, a &#8220;<B>Payment Recipient</B>&#8221;)
that the Administration Agent has determined in its sole discretion (whether or not after receipt of any notice under immediately
succeeding clause (b)) that any funds received by such Payment Recipient from the Administration Agent or any of its Affiliates
were erroneously transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known
to such</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.75pt 0pt 51pt; text-align: justify">Lender or Issuing Bank or
other Payment Recipient on its behalf) (any such funds, whether received as a payment, prepayment or repayment of principal, interest,
fees, distribution or otherwise, individually and collectively, an &#8220;<B>Erroneous Payment</B>&#8221;) and demands the return
of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the Administration
Agent and shall be segregated by the Payment Recipient and held in trust for the benefit of the Administration Agent, and such
Lender or Issuing Bank shall (or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such
Payment Recipient to) promptly, but in no event later than five (5) Business Days thereafter, return to the Administration Agent
the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency
so received), together with interest thereon in respect of each day from and including the date such Erroneous Payment (or portion
thereof) was received by such Payment Recipient to the date such amount is repaid to the Administration Agent in same day funds
at the greater of the Federal Funds Rate and a rate determined by the Administration Agent in accordance with banking industry
rules on interbank compensation from time to time in effect. A notice of the Administration Agent to any Payment Recipient under
this clause (a) shall be conclusive, absent manifest error.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.75pt 0pt 51pt; text-align: justify; text-indent: 0in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Without limiting immediately preceding clause (a), each Lender, Issuing Bank, or any Person who has received funds on behalf
of a Lender or Issuing Bank such Lender or Issuing Bank, hereby further agrees that if it receives a payment, prepayment or repayment
(whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise) from the Administration
Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in a notice
of payment, prepayment or repayment sent by the Administration Agent (or any of its Affiliates) with respect to such payment, prepayment
or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Administration
Agent (or any of its Affiliates), or (z) that such Lender, Issuing Bank, or other such recipient, otherwise becomes aware was transmitted,
or received, in error or by mistake (in whole or in part) in each case:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(A) in the case of immediately preceding clauses (x) or (y), an error shall be presumed to have been made (absent written
confirmation from the Administration Agent to the contrary) or (B) an error has been made (in the case of immediately preceding
clause (z)), in each case, with respect to such payment, prepayment or repayment; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.05pt 0pt 51pt; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>such Lender or Issuing Bank shall (and shall cause any other recipient that receives funds on its respective behalf to)
promptly (and, in all events, within one Business Day of its knowledge of such error) notify the Administration Agent of its receipt
of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so notifying the Administration
Agent pursuant to this Section 13.17(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify; text-indent: 0in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Lender or Issuing Bank hereby authorizes the Administration Agent to set off, net and apply any and all amounts at
any time owing to such Lender or Issuing Bank under any Loan Document, or otherwise payable or distributable by the Administration
Agent to such Lender or Issuing Bank from any source, against any amount due to the Administration Agent under immediately preceding
clause (a) or under the indemnification provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.65pt 0pt 51pt; text-align: justify; text-indent: 0in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event that an Erroneous Payment (or portion thereof) is not recovered by the Administration Agent for any reason,
after demand therefor by the Administration Agent in accordance with immediately preceding clause (a), from any Lender or Issuing
Bank that has received such Erroneous Payment (or portion thereof) (and/or from any Payment Recipient who received such Erroneous
Payment (or portion thereof) on its respective behalf) (such unrecovered amount, an &#8220;<B>Erroneous Payment Return Deficiency</B>&#8221;),
upon the Administration Agent&#8217;s notice to such Lender or Issuing Lender at any time, (i) such Lender or Issuing Bank shall
be deemed to have assigned its Loans (but not its Commitments) of the relevant class with respect to which such Erroneous Payment
was made (the &#8220;<B>Erroneous Payment Impacted Class</B>&#8221;) in an amount equal to the Erroneous Payment Return Deficiency
(or such lesser amount</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.65pt 0pt 51pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.65pt 0pt 51pt; text-align: justify">as the Administration Agent
may specify) (such assignment of the Loans (but not Commitments) of the Erroneous Payment Impacted Class, the &#8220;<B>Erroneous
Payment Deficiency Assignment</B>&#8221;) at par plus any accrued and unpaid interest (with the assignment fee to be waived by
the Administration Agent in such instance), and is hereby (together with the Borrowers) deemed to execute and deliver a Transfer
Certificate (or, to the extent applicable, an agreement incorporating a Transfer Certificate by reference pursuant to an electronic
platform as to which the Administration Agent and such parties are participants) with respect to such Erroneous Payment Deficiency
Assignment, and such Lender or Issuing Bank shall deliver any notes evidencing such Loans to the Borrowers or the Administration
Agent, (ii) the Administration Agent as the assignee Lender shall be deemed to acquire the Erroneous Payment Deficiency Assignment,
(iii) upon such deemed acquisition, the Administration Agent as the assignee Lender shall become a Lender or Issuing Bank, as applicable,
hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Lender or assigning Issuing Bank shall
cease to be a Lender or Issuing Bank, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment, excluding,
for the avoidance of doubt, its obligations under the indemnification provisions of this Agreement and its applicable Commitments
which shall survive as to such assigning Lender or assigning Issuing Bank and (iv) the Administration Agent may reflect in the
register its ownership interest in the Loans subject to the Erroneous Payment Deficiency Assignment. The Administration Agent may,
in its discretion, sell any Loans acquired pursuant to an Erroneous Payment Deficiency Assignment and upon receipt of the proceeds
of such sale, the Erroneous Payment Return Deficiency owing by the applicable Lender or Issuing Bank shall be reduced by the net
proceeds of the sale of such Loan (or portion thereof), and the Administration Agent shall retain all other rights, remedies and
claims against such Lender or Issuing Bank (and/or against any recipient that receives funds on its respective behalf). For the
avoidance of doubt, no Erroneous Payment Deficiency Assignment will reduce the Commitments of any Lender or Issuing Bank and such
Commitments shall remain available in accordance with the terms of this Agreement. In addition, each party hereto agrees that,
except to the extent that the Administration Agent has sold a Loan (or portion thereof) acquired pursuant to an Erroneous Payment
Deficiency Assignment, and irrespective of whether the Administration Agent may be equitably subrogated, the Administration Agent
shall be contractually subrogated to all the rights and interests of the applicable Lender or Issuing Bank under the Loan Documents
with respect to each Erroneous Payment Return Deficiency (the &#8220;<B>Erroneous Payment Subrogation Rights</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.9pt 0pt 51pt; text-align: justify; text-indent: 0in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations
owed by the Borrowers or any other Guarantor, except, in each case, to the extent such Erroneous Payment is, and solely with respect
to the amount of such Erroneous Payment that is, comprised of funds received by the Administration Agent from the Borrowers or
any other Guarantor for the purpose of making such Erroneous Payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.15pt 0pt 51pt; text-align: justify; text-indent: 0in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To the extent permitted by applicable law, no Payment Recipient shall assert any right or claim to an Erroneous Payment,
and hereby waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any
demand, claim or counterclaim by the Administration Agent for the return of any Erroneous Payment received, including without limitation
waiver of any defense based on &#8220;discharge for value&#8221; or any similar doctrine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 51pt; text-align: justify; text-indent: 0in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each party&#8217;s obligations, agreements and waivers under this Section 13.17 shall survive the resignation or replacement
of the Administration Agent, any transfer of rights or obligations by, or the replacement of, a Lender or Issuing Bank, the termination
of the Commitments and/or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.&#8221;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE 4 &#8211;
FEES AND COSTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.95pt 0pt 15pt; text-align: justify">4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All costs incurred by
the Agent in preparing this Sixth Amendment (including all legal fees incurred by the Administration Agent) shall be on the account
of the Borrowers, and shall form part of the Obligations. The Borrowers hereby authorize the Administration Agent to debit any
accounts it may have with the Administration Agent in an amount equal to such costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE 5 &#8211;
CONDITIONS TO EFFECTIVENESS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 15pt; text-align: justify; text-indent: 0in">5.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Sixth Amendment shall become effective upon the satisfaction of the following conditions precedent in form and substance
satisfactory to the Administration Agent (the date and fulfillment of such conditions being herein referred to as the <B>Amendment
Effective Date</B>):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 24.75pt">delivery to the Administration Agent of a fully executed copy of this Sixth
Amendment, dated the Amendment Effective Date, as executed by the Borrowers, the Guarantors, the Agents and the Lenders; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 24.9pt">the Administration Agent being satisfied that all representations and warranties
contained in Article 8 of the Credit Agreement shall remain true and correct in all material respects (except such representations
and warranties that are qualified as to materiality, which shall be true and correct in all respects) following this Sixth Amendment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE 6 &#8211; REPRESENTATIONS
AND WARRANTIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.9pt 0pt 15pt; text-align: justify; text-indent: 0in">6.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Borrower and each Guarantor warrants and represents to the Agents and the Lenders that the following statements are
true, correct and complete:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 24.8pt"><U>Authorization, Validity, and Enforceability of this Sixth Amendment.</U>
Each Borrower and each Guarantor has the corporate power and authority to execute and deliver this Sixth Amendment and to perform
its obligations under the Credit Agreement, as amended by this Sixth Amendment. Each Borrower and each Guarantor has taken all
necessary corporate action (including, without limitation, obtaining approval of its shareholders if necessary) to authorize its
execution and delivery of this Sixth Amendment and the performance of the Credit Agreement. This Sixth Amendment has been duly
executed and delivered by each Borrower and each Guarantor and this Sixth Amendment and the Credit Agreement constitute the legal,
valid and binding obligations of each Borrower and each Guarantor, enforceable against each of them in accordance with their respective
terms without defence, compensation, setoff or counterclaim. Each Borrower&#8217;s and each Guarantor&#8217;s execution and delivery
of this Sixth Amendment and the performance by each Borrower and each Guarantor of the Credit Agreement do not and will not conflict
with, or constitute a violation or breach of, or constitute a default under, or result in the creation or imposition of any Lien
upon the property of any Borrower or any Guarantor by reason of the terms of (a) any contract, mortgage, hypothec, Lien, lease,
agreement, indenture, or instrument to which any Borrower or any Guarantor is a party or which is binding on any of them, (b) any
requirement of law applicable to any Borrower or any Guarantor, or (c) the certificate or articles of incorporation or amalgamation
or association or bylaws or memorandum of association of any Borrower or any Guarantor.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 24.85pt"><U>Governmental Authorization.</U> No approval, consent, exemption, authorization,
or other action by, or notice to, or filing with, any governmental authority or other person is necessary or required in connection
with the execution, delivery or performance by, or enforcement against each Borrower and each Guarantor of this Sixth Amendment
or the Credit Agreement except for such as have been obtained or made and filings required in order to perfect and render enforceable
the Collateral Agent&#8217;s Liens.</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 24.7pt"><U>Incorporation of Representations and Warranties from Credit Agreement.</U>
The representations and warranties contained in Article 8 of the Credit Agreement and the other Loan Documents are and will be
true, correct and complete in all material respects on and as of the Amendment Effective Date to the same extent as though made
on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which
case they were true, correct and complete in all material respects on and as of such earlier date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 24.9pt"><U>Absence of Default.</U> No event has occurred and is continuing or will
result from the consummation of the transactions contemplated by this Sixth Amendment that would constitute a Default or an Event
of Default.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 51pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD STYLE="text-align: justify; padding-right: 24.75pt"><U>No Other Amendment.</U> Except to the extent set forth herein no additional
amendment, consent or waiver of any other term, condition, covenant, agreement or any other aspect of the Credit Agreement is intended
or implied and except as covered by this Sixth Amendment, no other aspect of the covenants referred to herein is amended or waived,
including without limitation for any other period or circumstance, and no such amendment, waiver or consent is intended or implied.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE 7 &#8211; MISCELLANEOUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 15pt; text-align: justify; text-indent: 0in">7.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Borrower and each Guarantor (i) reaffirms its Obligations under the Credit Agreement and the other Loan Documents to
which it is a party, and (ii) agrees that the Credit Agreement and the other Loan Documents to which it is a party remain in full
force and effect, except as amended hereby, and are hereby ratified and confirmed. The Guarantors (i) consent to and approve the
execution and delivery of this Sixth Amendment by the parties hereto, (ii) agree that this Sixth Amendment does not and shall not
limit or diminish in any manner the obligations of the Guarantors under their guarantees (collectively, the <B>Guarantees</B>)
and that such obligations would not be limited or diminished in any manner even if such Guarantors had not executed this Sixth
Amendment, (iii) agree that this Sixth Amendment shall not be construed as requiring the consent of such Guarantors in any other
circumstance, (iv) reaffirm each of their obligations under the Guarantees and the other Loan Documents to which they are a party,
and (v) agree that the Guarantees and the other Loan Documents to which they are a party remain in full force and effect and are
hereby ratified and confirmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.75pt 0pt 15pt; text-align: justify; text-indent: 0in">7.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except to the extent specifically set forth in this Sixth Amendment, nothing contained in this Sixth Amendment or any other
communication between the Collateral Agent and/or the Lenders and the Borrowers (or any Guarantor) shall be a waiver of any other
present or future violation, Default or Event of Default under the Credit Agreement or any other Loan Document (collectively, <B>Other
Violations</B>). Similarly, nothing contained in this Sixth Amendment shall directly or indirectly in any way whatsoever either
(i) impair, prejudice or otherwise adversely affect the Collateral Agent&#8217;s or the Lenders&#8217; right at any time to exercise
any right, privilege or remedy in connection with the Credit Agreement or any other Loan Document with respect to any Other Violations
(including, without limiting the generality of the foregoing, in respect of the non-conformity to any representation, warranty
or covenant contained in any Loan Document), (ii) except as specifically provided in Article 3 hereof, amend or alter any provision
of the Credit Agreement or any other Loan Document or any other contract or instrument, or (iii) constitute any course of dealing
or other basis for altering any obligation of any Borrower or any Guarantor under the Loan Documents or any right, privilege or
remedy of the Agents or the Lenders under the Credit Agreement or any other Loan Document or any other contract or instrument with
respect to Other Violations. Nothing in this Sixth Amendment shall be construed to be a consent by any Agent or the Lenders to
any Other Violations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.1pt 0pt 15pt; text-align: justify; text-indent: 0in">7.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Sixth Amendment will not discharge or constitute novation of any debt, obligation, covenant or agreement contained
in the Credit Agreement or any of the documents or security delivered pursuant thereto but same shall remain in full force and
effect save to the extent same are amended by the provisions of this Sixth Amendment.</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.1pt 0pt 15pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.7pt 0pt 15pt; text-align: justify; text-indent: 0in">7.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All reasonable expenses of the Administration Agent in connection with this Sixth Amendment and the related documentation,
including all reasonable legal fees and disbursements incurred by the Administration Agent, shall be for the account of the Borrowers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.35pt 0pt 15pt; text-align: justify; text-indent: 0in">7.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Sixth Amendment enures to the benefit of and binds the parties and their respective successors and permitted assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.15pt 0pt 15pt; text-align: justify; text-indent: 0in">7.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each party shall from time to time promptly execute and deliver all further documents and take all further action necessary
to give effect to the provisions and intent of this Sixth Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.05pt 0pt 15pt; text-align: justify; text-indent: 0in">7.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Sixth Amendment may be executed and delivered in one or more counterparts, including by way of facsimile, or electronically,
each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.3pt 0pt 15pt; text-align: justify; text-indent: 0in">7.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Sixth Amendment shall be interpreted and the rights and liabilities of the parties hereto shall be determined in accordance
with the laws of the Province of Ontario and the federal laws of Canada applicable therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature pages
commence on the following page]</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 16.05pt 0pt 15pt"><B>IN WITNESS WHEREOF</B>, the parties hereto
have caused this Fifth Amendment to Credit Agreement to be executed as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL GROUP INC., as</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Canadian Borrower</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: VP, Legal Counsel &amp; Corporate Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">I have the authority to bind the Corporation</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL HOLDINGS (USA),</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>INC., as U.S. Borrower</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">I have the authority to bind the Corporation</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>GLOBESTAR LIMITED, as a UK Borrower</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Davoud Amel-Azizpour</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL EMEA HOLDINGS</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>LIMITED, as a UK Borrower</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Davoud Amel-Azizpour</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 14.3pt; margin-bottom: 0pt">Executed by <B>COLLIERS
        INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED</B> ACN 008 178 238 as Australian Borrower in accordance with section 127 of the <I>Corporations
        Act 2001:</I></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt dotted"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Robert Wall</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt dotted"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; John Kenney</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"><STRIKE>Director/</STRIKE>company secretary</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt dotted"><FONT STYLE="font-size: 10pt">ROBERT WALL</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt dotted"><FONT STYLE="font-size: 10pt">JOHN KENNEY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Name of director/company secretary</FONT></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">(BLOCK LETTERS)</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Name of director</FONT></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">(BLOCK LETTERS)</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS MACAULAY NICOLLS INC., as a</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Corporation</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL USA, LLC, as a</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>CIVAS HOLDINGS, LLC, as a Guarantor</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL WA, LLC, as a</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 30.3pt; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL REAL ESTATE MANAGEMENT
        SERVICES (AZ), LLC, as a</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 20 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL CA, LLC, as a</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL GREATER LOS</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>ANGELES, LLC as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL VALUATION &amp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>ADVISORY SERVICES, LLC, as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>FS WILLIAMS ACQUISITIONCO LLC, as a</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS PARRISH INTERNATIONAL, INC., as</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Corporation</FONT></TD></TR>
</TABLE>
<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>Executed by <B>COLLIERS
        INTERNATIONAL (NSW) PTY LIMITED</B> ACN 001 401 681 as a Guarantor in accordance with section 127 of the <I>Corporations Act
        2001:</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt dotted; width: 49%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Robert Wall</I></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt dotted; width: 50%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; John Kenney</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"><STRIKE>Director</STRIKE>/company secretary</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt dotted"><FONT STYLE="font-size: 10pt">ROBERT WALL</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt dotted"><FONT STYLE="font-size: 10pt">JOHN KENNEY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Name of director/company secretary</FONT></P>
        <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">(BLOCK LETTERS)</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Name of director</FONT></P>
        <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">(BLOCK LETTERS)</FONT></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 12.2pt; margin-bottom: 0pt">Executed by <B>COLLIERS
        INTERNATIONAL (VICTORIA) PTY LTD</B> ACN 005 032 940 as a Guarantor in accordance with section 127 of the <I>Corporations Act
        2001:</I></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt dotted"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Robert Wall</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt dotted"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; John Kenney</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Director/company secretary</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt dotted"><FONT STYLE="font-size: 10pt">ROBERT WALL</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt dotted"><FONT STYLE="font-size: 10pt">JOHN KENNEY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Name of director/company secretary</FONT></P>
        <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">(BLOCK LETTERS)</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Name of director</FONT></P>
        <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">(BLOCK LETTERS)</FONT></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.75pt 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.75pt 0pt 0; text-align: center"></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL NEW ZEALAND</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>LIMITED, as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL GERMANY</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>HOLDING GMBH, as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Davoud Amel-Azizpour</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS MACAULAY NICOLLS (CYPRUS)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>LIMITED, as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Authorized Signatory</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL HOLDINGS</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>LIMITED, as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL CONSULTANTS</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>LIMITED, as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL (HONG KONG)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>LIMITED, as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">  <B>Signed by a director of GLOBESTAR LIMITED for and on behalf of, and as corporate member of, COLLIERS INTERNATIONAL
         PROPERTY</B>  <B>ADVISERS UK LLP, as a Guarantor</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"> Per:</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%">  <I>&lt;Signed&gt; Davoud Amel-Azizpour</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Davoud Amel-Azizpour</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL PROPERTY</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CONSULTANTS LIMITED, as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Anthony Horrell</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Anthony Horrell</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL FINLAND GROUP</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>OY, as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Davoud Amel-Azizpour</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL FINLAND OY, as a</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Davoud Amel-Azizpour</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL FINLAND</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>HOLDINGS OY, as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Davoud Amel-Azizpour</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 28.7pt; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL PROPERTY CONSULTANTS
        (SHANGHAI) CO. LTD., as a</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Authorized Signatory</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INTERNATIONAL FINCO (CANADA)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>INC., as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Authorized Signatory</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Corporation</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS INVESTMENT MANAGEMENT</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>HOLDINGS, Inc., as a Guarantor</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Authorized Signatory</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Corporation</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<!-- Field: Page; Sequence: 27 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COLLIERS INTERNATIONAL EMEA FINCO PLC</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Davoud Amel-Azizpour</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Davoud Amel-Azizpour</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COLLIERS INTERNATIONAL REMS US, LLC</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hawkins</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hawkins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">I have the authority to bind the Company</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>THE TORONTO-DOMINION BANK, as</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 32.9pt; margin-bottom: 0pt"><B>Administration Agent, Collateral Agent and
        Canadian Administration Agent</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Neda Heidarpour</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Neda Heidarpour</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Loan Syndications - Agency</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 54.4pt; margin-bottom: 0pt"><B>Draw Requests, Conversion Requests, Repayment
        Notices</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>All Other Notices</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>TORONTO DOMINION (TEXAS) LLC, as U.S.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Administration Agent</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Hughroy Enniss</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Hughroy Enniss</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Authorized Signatory</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>THE TORONTO-DOMINION BANK, London</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Branch, as European Agent</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Philip Bates</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Philip Bates</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;MD &amp; Head European Corporate Banking</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 30 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>HSBC BANK AUSTRALIA LIMITED, as Australian</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Agent</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Nadia Ladak</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Nadia Ladak</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&#9;Country Head &#8211; International Subsidiaries</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 15pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<!-- Field: Page; Sequence: 31 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">CANADIAN LENDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>THE TORONTO-DOMINION BANK</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Tim Thomas</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Tim Thomas</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Matthew Hendel</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Matthew Hendel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CANADIAN LENDERS CONT&rsquo;D</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>THE BANK OF NOVA SCOTIA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Steve Holyman</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Steve Holyman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD><I>&lt;Signed&gt; Heather Meldrum</I> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Heather Meldrum</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD> Title: Associate Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 33 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CANADIAN LENDERS CONT&rsquo;D</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>JPMORGAN CHASE BANK, N.A., Toronto</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Branch</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Syed Ali Hasan</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Syed Ali Hasan</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Vice President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 73.8pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CANADIAN LENDERS CONT&rsquo;D</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>BANK OF MONTREAL</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Sean P. Gallaway</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Sean P. Gallaway</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 100.6pt; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CANADIAN LENDERS CONT&rsquo;D</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>HSBC BANK CANADA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Jesse Macmasters</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Jesse Macmasters</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Head of Large Corporate Ontario</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Simon Tobin</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Simon Tobin</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Director, Large Corporate Banking</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 98.3pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 36 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CANADIAN LENDERS CONT&rsquo;D</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>BANK OF AMERICA, N.A., Canadian Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Sanaa Khatri-Ahmed</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Sanaa Khatri-Ahmed</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Senior Vice-President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 98.25pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<!-- Field: Page; Sequence: 37 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CANADIAN LENDERS CONT&rsquo;D</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>CANADIAN IMPERIAL BANK OF COMMERCE</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Sophia Soofi</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Sophia Soofi</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Executive Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Stephen Redding</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Stephen Redding</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 75.7pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 38 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CANADIAN LENDERS CONT&rsquo;D</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>NATIONAL BANK OF CANADA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Gavin Virgo</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gavin Virgo</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Vice President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; David Torrey</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: David Torrey</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 39 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CANADIAN LENDERS CONT&rsquo;D</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>U.S. BANK NATIONAL ASSOCIATION, Canada Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; James F. Cooper</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: James F. Cooper</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Sr. V/President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 73.9pt; margin-bottom: 0pt; text-indent: 0.8pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CANADIAN LENDERS CONT&rsquo;D</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>WELLS FARGO BANK, N.A., Canadian Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Jeffrey McInenly</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Jeffrey McInenly</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 74.65pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>CANADIAN LENDERS CONT&rsquo;D</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>MIZUHO BANK, LTD.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Deborah Cullen</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Deborah Cullen</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>U.S. LENDERS</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>THE TORONTO-DOMINION BANK, NEW YORK BRANCH</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Hughroy Enniss</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Hughroy Enniss</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Authorized Signatory</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>U.S. LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>THE BANK OF NOVA SCOTIA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Steve Holyman</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Steve Holyman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><I>&lt;Signed&gt; Heather Meldrum</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"> Name: Heather Meldrum</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"> Title: Associate Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 44 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>U.S. LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>JPMORGAN CHASE BANK, N.A.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Marshall Trenckmann</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Marshall Trenckmann</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.75pt 0pt 0; text-align: center">2</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>U.S. LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>BANK OF MONTREAL, Chicago Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Andrew Berryman</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Andrew Berryman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Vice President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>U.S. LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>HSBC BANK CANADA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Jesse Macmasters</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Jesse Macmasters</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Head of Large Corporate Ontario</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Simon Tobin</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Simon Tobin</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Director, Large Corporate Banking</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 98.3pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>U.S. LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>BANK OF AMERICA, N.A., Canada Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"> Per:</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%">  <I>&lt;Signed&gt; Sanaa Khatri-Ahmed</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Sanaa Khatri-Ahmed</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Senior Vice-President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="margin-top: 0; margin-bottom: 0">Address for Notice:</P>
                    <P STYLE="margin-top: 0; margin-bottom: 0">[REDACTED]</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>U.S. LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>CANADIAN IMPERIAL BANK OF COMMERCE</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Sophia Soofi</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Sophia Soofi</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Executive Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Stephen Redding</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Stephen Redding</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 75.7pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 49 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>U.S. LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>NATIONAL BANK OF CANADA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Gavin Virgo</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Gavin Virgo</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Vice President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; David Torrey</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: David Torrey</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 50 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>U.S. LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>U.S. BANK NATIONAL ASSOCIATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; James F. Cooper</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: James F. Cooper</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Sr. V/President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 76.5pt; margin-bottom: 0pt; text-indent: -30.6pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>U.S. LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>WELLS FARGO BANK, N.A., Canadian Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Jeffrey McInenly</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Jeffrey McInenly</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 74.25pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 52 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>U.S. LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>MIZUHO BANK, LTD.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Deborah Cullen</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Deborah Cullen</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>UK LENDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>THE TORONTO-DOMINION BANK, London</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Branch</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Philip Bates</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Philip Bates</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: MD &amp; Head European Corporate Banking</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>UK LENDERS CONT&rsquo;D</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>JPMORGAN CHASE BANK, N.A.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt">&lt;Signed&gt; Marshall Trenckmann</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Marshall Trenckmann</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 55 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>UK LENDERS CONT&rsquo;D</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>BANK OF MONTREAL, London Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Richard Pittam</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Richard Pittam</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: MD</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>&lt;Signed&gt; Scott Matthews</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD> Name: Scot Matthews</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD> Title: MD</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 56 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>UK LENDERS CONT&rsquo;D</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>HSBC UK BANK PLC</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Adam Mahmoud</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Adam Mahmoud</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Relationship Director, International Subsidiary Banking</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="margin-top: 0; margin-bottom: 0">Address for Notice:</P>
                    <P STYLE="margin-top: 0; margin-bottom: 0">[REDACTED]</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 57 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>UK LENDERS CONT&rsquo;D</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>THE BANK OF NOVA SCOTIA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Steve Holyman</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Steve Holyman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Heather Meldrum</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Heather Meldrum</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Associate Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 58 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>UK LENDERS CONT&rsquo;D</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>BANK OF AMERICA, N.A., Canada Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">Per:</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%">  <B>&nbsp;</B>  <I>&lt;Signed&gt; Sanaa Khatri-Ahmed</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Sanaa Khatri-Ahmed</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Senior Vice-President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="margin-top: 0; margin-bottom: 0">Address for Notice:</P>
                    <P STYLE="margin-top: 0; margin-bottom: 0">[REDACTED]</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 59 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>UK LENDERS CONT&rsquo;D</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>NATIONAL BANK OF CANADA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Gavin Virgo</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Gavin Virgo</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Vice President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; David Torrey</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: David Torrey</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 60 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>UK LENDERS CONT&rsquo;D</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>WELLS FARGO BANK, N.A., Canadian Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Jeffrey McInenly</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Jeffrey McInenly</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 74.15pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 61 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>UK LENDERS CONT&rsquo;D</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>MIZUHO BANK, LTD.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Deborah Cullen</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Deborah Cullen</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>UK LENDERS CONT&rsquo;D</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>CANADIAN IMPERIAL BANK OF COMMERCE</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Sophia Soofi</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Sophia Soofi</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Executive Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Stephen Redding</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Stephen Redding</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 75.7pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS EMEA LENDERS</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>THE TORONTO-DOMINION BANK, London</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Branch</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Philip Bates</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Philip Bates</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: MD &amp; Head European Corporate Banking</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS EMEA LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>JPMORGAN CHASE BANK, N.A.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Marshall Trenckmann</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Marshall Trenckmann</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 65 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS EMEA LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>BANK OF MONTREAL, London Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Richard Pittam</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Richard Pittman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: MD</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>&lt;Signed&gt; Scott Matthews</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Scott Matthews</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD> <FONT STYLE="font-size: 10pt">Title: MD</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 66 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS EMEA LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>HSBC BANK PLC</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Adam Mahmoud</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Adam Mahmoud</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Relationship Director, International Subsidiary Banking</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 67 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS EMEA LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>THE BANK OF NOVA SCOTIA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Steve Holyman</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Steve Holyman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Heather Meldrum</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Heather Meldrum</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Associate Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 68 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS EMEA LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>BANK OF AMERICA, N.A., Canada Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">Per:</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%"><I>&lt;Signed&gt; Sanaa Khatri-Ahmed</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Sanaa Khatri-Ahmed</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Senior Vice-President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="margin-top: 0; margin-bottom: 0">Address for Notice:</P>
                    <P STYLE="margin-top: 0; margin-bottom: 0">[REDACTED]</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 69 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS EMEA LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>NATIONAL BANK OF CANADA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Gavin Virgo</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Gavin Virgo</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Vice President</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; David Torrey</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: David Torrey</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 70 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS EMEA LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>WELLS FARGO BANK, N.A., Canadian Branch</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Jeffrey McInenly</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Jeffrey McInenly</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 71.6pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 71 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS EMEA LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>CANADIAN IMPERIAL BANK OF COMMERCE</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Sophia Soofi</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Sophia Soofi</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Executive Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Stephen Redding</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Stephen Redding</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 75.7pt; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 72 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>COLLIERS EMEA LENDERS CONT&rsquo;D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>&nbsp;</B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-size: 10pt"><B>MIZUHO BANK, LTD.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 45%"><FONT STYLE="font-size: 10pt"><I>&lt;Signed&gt; Deborah Cullen</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name: Deborah Cullen</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Per:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Address for Notice:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">[REDACTED]</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>AUSTRALIAN LENDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: bottom; width: 45%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; width: 50%">HSBC BANK AUSTRALIA LIMITED</TD></TR>
<TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Signed <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">for </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700">HSBC BANK AUSTRALIA LIMITED </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">(ABN 48 006 434 162) by its duly</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">appointed attorney under power of attorney in the presence of:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 20pt; font-style: italic; text-align: left">&nbsp;&nbsp;&lt;Signed&gt; Rex Philip&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 20pt; font-style: italic; text-align: left">&nbsp;&nbsp;&lt;Signed&gt; Nadia Ladak&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Witness Signature</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Attorney Signature</TD></TR>
<TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font-size: 12pt; font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 20pt; text-align: left">&nbsp;&nbsp;Rex Philip <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 20pt; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Nadia Ladak <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Print Name</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Print Name</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Address for Notice:</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">[REDACTED]</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>exh_993.htm
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.3</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"><B></B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: right"><B><I>Execution Version</I></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 196.15pt 0pt 238.05pt">TRUST AGREEMENT</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 96pt"><B>THIS TRUST AGREEMENT</B> (this &quot;<B>Agreement</B>&quot;) is made this
16<SUP>th</SUP> day of April, 2021</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 60pt">AMONG:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 76.6pt 0pt 24.1pt"><B>JAY S. HENNICK</B>, an individual resident in the City of Toronto,
Ontario (&quot;<B>Jay</B>&quot;)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.05pt"></TD><TD STYLE="width: 6.85pt">-</TD><TD STYLE="text-align: left">and -</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 76.6pt 0pt 24.1pt"><B>HENSET CAPITAL INC.</B>, a corporation existing under the laws of
the Province of Ontario (&quot;<B>Henset</B>&quot;)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.05pt"></TD><TD STYLE="width: 6.85pt">-</TD><TD STYLE="text-align: left">and -</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 24.1pt"><B>COLLIERS INTERNATIONAL GROUP INC.</B>, a corporation</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 24.1pt">amalgamated under the laws of the Province of Ontario (&quot;<B>Colliers</B>&quot;)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.05pt"></TD><TD STYLE="width: 6.85pt">-</TD><TD STYLE="text-align: left">and -</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 89.75pt 0pt 24.1pt"><B>TSX TRUST COMPANY</B>, a trust company existing
under the laws of Canada duly authorized to carry on the business of a trust company in the Province of Ontario and having an office
in the City of Toronto, in the Province of Ontario (the &quot;<B>Trustee</B>&quot;)</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 60pt">WHEREAS:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 36pt">A.</TD><TD STYLE="text-align: justify; padding-right: 17.8pt">Jay, Henset, Colliers (formerly named FirstService Corporation) and The
Equitable Trust Company (the &quot;<B>Original Trustee</B>&quot;) are parties to a trust agreement dated June 22, 1993 (the &quot;<B>Original
Trust Agreement</B>&quot;);</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 36pt">B.</TD><TD STYLE="text-align: justify; padding-right: 17.75pt">the office of trustee under the Original Trust Agreement is vacant, and
Colliers wishes to appoint the Trustee, as trustee and in doing so enter into this Agreement;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 36pt">C.</TD><TD STYLE="text-align: justify; padding-right: 17.65pt">the authorized capital of Colliers consists of an unlimited number of preference
shares, issuable in series, an unlimited number of multiple voting shares (the &quot;<B>Multiple Voting Shares</B>&quot;) and an
unlimited number of subordinate voting shares (the &quot;<B>Subordinate Voting Shares</B>&quot;);</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 36pt">D.</TD><TD STYLE="text-align: justify; padding-right: 17.65pt">the Original Trust Agreement was, and this Agreement is, entered into to
ensure that the Subordinate Voting Shares would be and continue to be listed on the Toronto Stock Exchange (the &quot;<B>TSX</B>&quot;)
and that the holders from time to time of Subordinate Voting Shares would not be deprived of rights under applicable take-over
bid legislation to which they would have been entitled in the event of a take-over bid if the Multiple Voting Shares and the Subordinate
Voting shares were considered to be a single class of shares;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 36pt">E.</TD><TD STYLE="text-align: justify; padding-right: 17.65pt">all of the issued and outstanding Subordinate Voting Shares are listed
on the TSX and The Nasdaq Stock Market;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 36pt">F.</TD><TD STYLE="text-align: justify; padding-right: 17.8pt">in connection with the appointment of the Trustee, the parties (other than
the Trustee) wish to correct certain errors, ambiguities, defective provisions, inconsistencies and omissions in the Original Trust
Agreement by entering into this Agreement as permitted by section 23 of the Original Trust Agreement;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 36pt">G.</TD><TD STYLE="text-align: justify; padding-right: 17.8pt">Colliers, Henset and Jay wish to constitute the Trustee as the trustee for
the holders from time to time of the Subordinate Voting Shares for the purposes hereinafter set forth with the intent that such
holders, through the Trustee, will receive the benefit of the covenants of Colliers, Henset and Jay contained in this Agreement;
and</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 60pt"></TD><TD STYLE="width: 36pt">H.</TD><TD STYLE="text-align: justify; padding-right: 0.25in">the foregoing recitals are made as representations and statements of fact
by Jay, Henset and Colliers and not the Trustee.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 17.75pt 0pt 60pt"><B>NOW THEREFORE THIS AGREEMENT WITNESSETH </B>that,
in consideration of the premises herein contained and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the parties hereto covenant and agree as follows:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.6pt 0pt 60pt"><FONT STYLE="font-size: 9pt; color: Black">1.
</FONT><FONT STYLE="color: Black">Su</FONT>bject to Sections 2 and 8, no Multiple Voting Shares owned by Jay or Henset (collectively,
the &ldquo;<B>Multiple Voting Shareholders</B>&rdquo;) may be sold, directly or indirectly, pursuant to a take-over bid (as defined
in applicable Canadian securities legislation) under circumstances in which any applicable Canadian securities legislation would
have required the same offer or a follow-up offer to be made to holders of Subordinate Voting Shares if the same were to be a
sale of Subordinate Voting Shares rather than Multiple Voting Shares, but otherwise on the same terms. For this purpose, it shall
be assumed that the offer that would have resulted in such sale of Subordinate Voting Shares would have constituted a take-over
bid under applicable Canadian securities legislation, regardless of whether this actually would have been the case<I>.</I> In
determining whether there has been a sale of or offer for Multiple Voting Shares and the terms and conditions of any such sale
or offer, effect will be given to all transactions contemplated by the arrangement pursuant to which the Multiple Voting Shares
are sold, or are to be sold, whether such transaction or transactions are completed on, before or after the time of sale of Multiple
Voting Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 35.95pt; margin: 0pt 0 0pt 60pt"><FONT STYLE="font-size: 9pt; color: Black">2. </FONT><FONT STYLE="color: Black">Sec</FONT>tion
1 will not apply to prevent a sale by a Multiple Voting Shareholder of Multiple Voting Shares pursuant to a take-over bid if:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: left; padding-right: 21.25pt">such sale is made pursuant to an offer to all holders of Multiple Voting Shares
where a concurrent offer is made to all holders of Subordinate Voting Shares and:</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 132pt">&nbsp;</TD>
    <TD STYLE="width: 36pt">(i)</TD>
    <TD STYLE="text-align: justify; padding-right: 17.65pt">the price offered per Subordinate Voting Share is at least equal to the higher of the per share price offered for the Multiple
Voting Shares and the highest price paid by the offeror, within the 90 day period immediately preceding the date of such offer,
for any Multiple Voting Shares owned directly or indirectly by such Multiple Voting Shareholder;</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 132pt">&nbsp;</TD>
    <TD STYLE="width: 36pt">(ii)</TD>
    <TD STYLE="text-align: justify; padding-right: 17.65pt">the number of Subordinate
Voting Shares offered to be purchased (exclusive of shares owned immediately prior to the offer by the offeror or associates or
affiliates of the offeror) expressed as a percentage of the number of Subordinate Voting Shares outstanding is not less than the
number of Multiple Voting Shares offered to be purchased expressed as a percentage of the number of Multiple Voting Shares outstanding;</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->-</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 132pt">&nbsp;</TD>
    <TD STYLE="width: 36pt">(iii)</TD>
    <TD STYLE="text-align: justify; padding-right: 17.65pt">no condition is attached to the offer for the Subordinate Voting Shares, other than the right not to take up and pay for
any Subordinate Voting Shares which may be tendered if no shares are purchased pursuant to the offer for the Multiple Voting Shares;
and</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 132pt">&nbsp;</TD>
    <TD STYLE="width: 36pt">(iv)</TD>
    <TD STYLE="text-align: justify; padding-right: 17.65pt">all other terms are at least as favourable to the holders of Subordinate Voting Shares as the terms of the offer for the
Multiple Voting Shares are to such Multiple Voting Shareholder; or</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -35.3pt; margin: 0pt 17.75pt 0pt 168pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 17.9pt">there is a concurrent unconditional offer to purchase all of the Subordinate
Voting Shares on the terms specified in subsections 2(a)(i) and 2(a)(iv); or</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 17.55pt">such sale is an indirect sale resulting from the acquisition of shares
of a corporation which, directly or indirectly, on its own or jointly or in concert with any other party or parties, controls Henset
or Colliers, where the transferor and the transferee are members of the Hennick Family (as defined below) and the transferee is
the spouse or child of the transferor; provided that any such sale is made in accordance with applicable Ontario securities legislation
and, where required by such legislation, an order from the Ontario Securities Commission permitting such sale has been obtained.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 17.7pt 0pt 60pt">For the purposes of this Agreement, the term &quot;<B>Hennick
Family</B>&quot; means collectively: (i) Jay; (ii) the spouse, children or estate of Jay; (iii) a trust the sole beneficiaries
at which are any of the foregoing; and (iv) any and all corporations or entities which are directly or indirectly controlled by
any one or more of the foregoing. For purposes hereof, &quot;<B>control</B>&quot; means the ownership of or control or direction
over voting securities carrying more than 50% of the votes for the election of directors, other than by way of security, where
the votes carried by such securities are sufficient, if exercised, to elect a majority of the board of directors or equivalent
body of the relevant corporation or entity. For the purposes of this Section 2, the varying of any term of an offer shall be deemed
to constitute the making of a new offer.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.55pt 0pt 60pt">3. Without limiting the
generality of Section 1: (i) a sale will be deemed to be an indirect sale of Multiple Voting Shares owned by a Multiple
Voting Shareholder for the purposes of Section 1 if the offer pursuant to which such sale is made would be deemed to be an
indirect offer for the Multiple Voting Shares under the take-over bid provisions of applicable Canadian securities
legislation; (ii) an offeror shall be deemed to include any person or company acting jointly or in concert with such offeror
under the take-bid provisions of applicable Canadian securities legislation; and (iii) any sale which would result in the
direct or indirect acquisition of ownership of Multiple Voting Shares or in the direct or indirect acquisition of control or
direction over such shares other than is permitted by Section 2, shall be construed to be a sale of such Multiple Voting
Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.55pt 0pt 60pt">4. Each Multiple Voting
Shareholder will use its best efforts to prevent any person or company from carrying out an indirect sale described in
Section 1 in respect of any Multiple Voting Shares owned from time to time by such Multiple Voting Shareholder, regardless of
whether such person or company is a party to this Agreement, unless Section 2 applies in respect of such sale.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.8pt 0pt 60pt">5. If any person or
company carries out a sale (including an indirect sale) described in Section 1 in respect of any Multiple Voting Shares owned
from time to time by a Multiple Voting Shareholder and if Section 2 does not apply in respect of such sale, such Multiple
Voting Shareholder will not at the time such sale becomes effective or thereafter do any of the following with respect to any
of the Multiple Voting Shares so sold:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 95.95pt"></TD><TD STYLE="width: 36.05pt">(a)</TD><TD STYLE="text-align: left">dispose of them without the prior written consent of the Trustee;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: left; padding-right: 0.25in">convert them into Subordinate Voting Shares without the prior written consent
of the Trustee; or</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 95.95pt"></TD><TD STYLE="width: 36.05pt">(c)</TD><TD STYLE="text-align: left">exercise any voting rights attaching to them;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 17.6pt 0pt 60pt">in each case, except in accordance with the written
instructions of the Trustee, and such Multiple Voting Shareholder will comply with such instructions. The Trustee may attach conditions
to any consent the Trustee gives in exercising its rights hereunder. The Trustee will exercise such rights in a manner that the
Trustee, relying on the opinion of counsel, considers to be: (i) in the best interests of the holders of the Subordinate Voting
Shares, other than the Multiple Voting Shareholders and holders of Subordinate Voting Shares who, in the opinion of the Trustee,
relying on the opinion of counsel, participated directly or indirectly in the transaction that triggered the operation of this
Section 5; and (ii) consistent with the intentions of the parties hereto, other than the Trustee, in entering into this Agreement,
as such intentions are set out in the recitals to this Agreement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.55pt 0pt 60pt"><FONT STYLE="font-size: 9pt">6.
</FONT>No Multiple Voting Shareholder will effect or facilitate a disposition of any Multiple Voting Shares (including, subject
to Section 8, a pledge of security) unless the disposition is conditional upon the person or company acquiring the shares becoming
a party to an agreement on the same terms and conditions, <I>mutatis mutandis,</I> as this Agreement, under which such person
or company will have the same rights and obligations as the party effecting or facilitating such disposition hereunder and in
which all references in this Agreement to the party effecting or facilitating such disposition will be to the acquiring person
or company. The conversion of Multiple Voting Shares into Subordinate Voting Shares, whether or not such Subordinate Voting Shares
are subsequently sold, will not constitute a disposition of Multiple Voting Shares for the purposes of this Agreement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.55pt 0pt 60pt"><FONT STYLE="font-size: 9pt">7.
</FONT>Subject to Section 8, in the event of any direct or indirect sale of Multiple Voting Shares to any transferee other than
a member of the Hennick Family, the transferred Multiple Voting Shares shall be immediately converted into Subordinate Voting
Shares. For the purpose of giving effect to the aforementioned conversion, a holder of Multiple Voting Shares proposing to transfer
all or part of such shares (the &quot;<B>Transferred Shares</B>&quot;) to a transferee who is not a member of the Hennick Family
shall not affect any such transfer unless the transfer is conditional upon the person or company (the &quot;<B>Transferee</B>&quot;)
acquiring the Transferred Shares becoming a party to an agreement with the Trustee and Colliers pursuant to which the Transferee
agrees to exercise its right to convert all of the Transferred Shares into Subordinate Voting Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.55pt 0pt 60pt">8. Nothing in this
Agreement will prevent any person (the &quot;<B>Borrower</B>&quot;), from time to time, directly or indirectly, granting a
security interest, by way of pledge, hypothecation or otherwise, whether directly or indirectly, in Multiple Voting Shares
owned by a Multiple Voting Shareholder to any financial institution with which the Borrower deals at arm's length (within the
meaning of the <I>Income Tax Act </I>(Canada)) in connection with a <I>bona fide </I>borrowing provided that, if the Borrower
is a Multiple Voting Shareholder, concurrently with the pledge, hypothecation or other granting of the security interest, the
financial institution agrees in writing to become a party to and abide by the terms of this Agreement as if such financial
institution were such Multiple Voting Shareholder until such time as the pledge, hypothecation or other security interest has
been released or the Multiple Voting Shares which were subject thereto have been disposed of in accordance with the terms of
this Agreement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.6pt 0pt 60pt"><FONT STYLE="font-size: 9pt">9.
</FONT>In the event that the Trustee has been provided with information, as a result of which it has reasonable cause to believe
that any provision of this Agreement has been or may be breached (by any person other than the Trustee), the Trustee shall, relying
on the opinion of counsel, make reasonable inquiries to determine whether: (i) such a breach has occurred or is intended to occur,
and (ii) such breach or intended breach can be corrected expeditiously and without prejudice to the <I>bona fide</I> interests
of the holders of Subordinate Voting Shares, and if so, the steps proposed to be taken by such parties to correct such breach
or intended breach. If the Trustee thereupon determines that a breach or intended breach has occurred or is intended and either
cannot be corrected expeditiously or the steps proposed to be taken to correct such breach or intended breach will not adequately
correct such breach expeditiously and without prejudice to the <I>bonda fide </I>interests of the holders of Subordinate Voting
Shares, the Trustee shall forthwith deliver to Colliers a certificate stating that the Trustee has made such determination. The
Trustee will thereupon be entitled to take and, subject to Section 11, will take such action as the Trustee, acting on the opinion
of counsel, considers necessary to enforce its rights under this agreement on behalf of the holders of the Subordinate Voting
Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.95pt 0pt 60pt">For greater certainty, it
is acknowledged by all parties that the Trustee does not act as transfer agent for the Multiple Voting Shares and will have no
knowledge of any sale or potential sale of Multiple Voting Shares unless notified of such hereunder.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.75pt 0pt 60pt">Nothing in this Section 9
shall impose on the Trustee any obligation to make inquiries as to any breach or intended breach of this Agreement provided that
the Trustee does not have reasonable cause to believe that such a breach has occurred or is intended. Where the Trustee does not
have any reasonable cause to so believe, the Trustee shall have no liability under this Section 9 in respect of any breach or
intended breach.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.6pt 0pt 60pt"><FONT STYLE="font-size: 9pt">10.
</FONT>Subject to Section 11, in the event holders of not less than 10% of the then outstanding Subordinate Voting Shares determine
that any provision of this Agreement has been or will be breached (by any person other than the Trustee), such holders may require
the Trustee to take action in connection therewith by delivering to the Trustee a requisition in writing signed in one or more
counterparts by such registered holders and setting forth the action to be taken by the Trustee, and upon receipt by the Trustee
of such a requisition, the Trustee will forthwith take such action as is specified in the requisition and any other action that
the Trustee, relying on the opinion of counsel, considers necessary to enforce its rights under this Agreement on behalf of the
holders of the Subordinate Voting Shares; provided that the Trustee shall in the first instance, relying on an opinion of counsel,
determine whether the breach or intended breach can be corrected expeditiously and without prejudice to the bona fide interests
of the holders of the Subordinate Voting Shares, and if so, whether the steps proposed to be taken by the Multiple Voting Shareholders,
Colliers and/or a beneficial owner to correct such breach or intended breach will adequately correct such breach expeditiously
and without prejudice to the <I>bona fide </I>interests of the holders of Subordinate Voting Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.65pt 0pt 60pt"><FONT STYLE="font-size: 9pt">11. </FONT>The
obligation of the Trustee to take any action on behalf of the holders of the Subordinate Voting Shares will be conditional
upon the Trustee receiving from Colliers or from one or more holders of Subordinate Voting Shares: (i) such funds and
indemnities as the Trustee may reasonably require in respect of any fees, costs or expenses which it may incur or any
liability that it may be exposed to in connection with any such action; and (ii) conclusive evidence of the registered
holdings of the holders of Subordinate Voting Shares, including, but not limited to, a register showing the registered
holders of outstanding Subordinate Voting Shares, the number of Subordinate Voting Shares so held by each holder and the
total number of then outstanding Subordinate Voting Shares. Colliers will provide such funding and indemnities to the Trustee
if the Trustee has delivered to Colliers the certificate referred to in Section 9.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.6pt 0pt 60pt">12. No holder of
Subordinate Voting Shares will have the right, other than through the Trustee, to institute any action or proceeding or to
exercise any other remedy for the purpose of enforcing any rights arising from this Agreement unless holders of Subordinate
Voting Shares have requested in the manner specified in Section 10 that the Trustee act and have provided reasonable funds
and indemnities to the Trustee and the Trustee has failed to so act within 30 days after the provision of such funds and
indemnities. In such case, any holder of Subordinate Voting Shares acting on behalf of such holder and all other holders of
Subordinate Voting Shares will be entitled to initiate whatever proceedings that the Trustee would have been entitled to
initiate in any court of competent jurisdiction.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.6pt 0pt 60pt">13. The Trustee may resign
and be discharged from all further duties and liabilities hereunder, subject to this Section 13, after giving 60 days'
written notice to the other parties hereto or such shorter notice as such parties may accept as sufficient. Colliers will
have the power at any time to remove the existing Trustee, provided such removal does not adversely affect the interests of
the holders of the Subordinate Voting Shares, after giving the Trustee 30 days' written notice of such removal or such
shorter notice that the Trustee will accept as sufficient. In the event that the office of the Trustee becomes vacant due to
the removal of the existing Trustee by Colliers, Colliers will forthwith appoint a new trustee which must be one of the
largest five corporations (in terms of assets under administration) licensed or authorized to carry on the business of a
trust company in Ontario. In the event that the office of the Trustee becomes vacant otherwise than by removal of the Trustee
by Colliers, Colliers will forthwith appoint a new trustee which must be a corporation licensed or authorized to carry on the
business of a trust company in Ontario; failing such appointment, any of the parties hereto or any holder of Subordinate
Voting Shares may apply to a judge of the Ontario Superior Court of Justice for the appointment of a new trustee. Upon any
new appointment, the new trustee will be vested with the same powers, rights, duties and responsibilities as if it had been
originally named herein as the Trustee, but there will be immediately executed, at the expense of Colliers, all such
instruments as may be, in the opinion of counsel to Colliers, necessary or desirable to assure such vesting. Any resignation
of the Trustee will not become effective until the successor party executes an appropriate instrument accepting the
appointment of the new trustee. Notwithstanding such resignation or removal, the Trustee will continue to be indemnified in
accordance with Section 14.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">14.</TD>
    <TD STYLE="width: 3%">(a)</TD><TD STYLE="text-align: justify; padding-right: 17.55pt">Jay, Henset and Colliers (and any of their respective
successors or assigns hereunder), hereby jointly and severally indemnify and save harmless the Trustee from and against all claims,
losses, damages, costs, penalties, fines and reasonable expenses (including reasonable expenses of the Trustee&rsquo;s legal counsel)
which may be paid, incurred or suffered by the Trustee by reason of or as a result of the Trustee&rsquo;s acceptance or administration
of the trust hereunder, its compliance with its duties set forth in this Agreement or any written, electronic or oral instructions
delivered to the Trustee by Colliers pursuant hereto, except to the extent that the same results from its own gross negligence,
willful misconduct or bad faith. In no case shall Jay, Henset and Colliers be liable under the indemnity in this subsection 14(a)
for any claim against the Trustee unless such parties shall be notified by the Trustee of the written assertion of a claim or
of any action commenced against the Trustee, as soon as practicable after the Trustee shall have received any such written assertion
of a claim, or shall have been served with</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96pt">&nbsp;</TD>
    <TD STYLE="width: 36pt">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-right: 17.55pt">a summons or other first legal process giving information
as to the nature and basis of the claim. Jay, Henset and/or Colliers shall be entitled to participate at its own expense in the
defence of the assertion or claim. Subject to paragraph 14(a)(ii), Jay, Henset and/or Colliers may elect at any time after receipt
of such notice to assume the defence of any suit brought to enforce any such claim. The Trustee shall have the right to employ
separate counsel in any such suit and participate in the defence thereof, but the fees and expenses of such counsel shall be at
the expense of the Trustee unless:</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 17.65pt 0pt 132pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 21%">&nbsp;</TD>
    <TD STYLE="width: 4%">(i)</TD>
    <TD STYLE="text-align: justify; padding-right: 17.65pt">the employment of such counsel has been authorized by Jay, Henset or Colliers; or</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21%"></TD><TD STYLE="width: 4%">(ii)</TD><TD STYLE="text-align: justify; padding-right: 17.65pt">the named parties to any such suit include both the Trustee, Jay, Henset
and/or Colliers and the Trustee shall have been advised by counsel acceptable to Jay, Henset and Colliers that there may be one
or more legal defences available to the Trustee that are different from or in addition to those available to Jay, Henset and/or
Colliers (in which case Jay, Henset and Colliers shall not have the right to assume the defence of such suit on behalf of the Trustee
but shall be jointly and severally liable to pay the reasonable fees and expenses of counsel for the Trustee).</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 17.75pt 0pt 132pt">For greater certainty, this indemnity will include
any claims, losses, damages, costs, penalties, fines incurred or suffered by the Trustee arising under the Original Trust Agreement.
This indemnity shall survive the resignation or removal of the Trustee and the termination of this Agreement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify; padding-right: 17.7pt">The Trustee may employ or retain such counsel (who may be counsel to Colliers),
auditors, accountants or other experts or advisers, whose qualifications give authority to any opinion or report made by them as
it may reasonably require for the purpose of discharging its duties hereunder and will not be responsible for any misconduct or
negligence on the part of any of them. The Trustee may, if it is acting in good faith, rely on the accuracy of any such opinion
or report.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify; padding-right: 17.7pt">The Trustee will have no responsibility, if it is acting in good faith,
for the genuineness or validity of any securities, documents or other things deposited with it. In the exercise of its rights,
duties and obligations hereunder, the Trustee may, if it is acting in good faith, rely as to the truth of the statements made in
any certificates or other documents provided to it.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify; padding-right: 17.7pt">The Trustee shall not be liable for any action taken or omitted to be taken
by it under or in connection with this Agreement, except for its own gross negligence, willful misconduct or bad faith.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD STYLE="text-align: justify; padding-right: 17.65pt">The Trustee may, if it is acting in good faith, rely, as to the truth of
the statements and the correctness of the opinions expressed therein, upon any instruction, advice, notice, opinion or other document
believed by it to be genuine and to have been signed or presented by the proper party or parties and, subject to subsection 14(d),
shall be under no liability with respect to any action taken or omitted to be taken in accordance with such instruction, advice,
notice, opinion or other document.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->-</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(f)</TD><TD STYLE="text-align: justify; padding-right: 17.65pt">This Agreement sets forth exclusively the duties of the Trustee with respect
to any and all matters pertinent hereto and no implied duties or obligations shall be read into the agreement against the Trustee,
including any agreement referred to in this Agreement to which the Trustee is not a party, including without limitation, the Original
Trust Agreement.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(g)</TD><TD STYLE="text-align: justify; padding-right: 17.7pt">None of the provisions of this Agreement shall require the Trustee under
any circumstances whatsoever to expend or risk its own funds or otherwise incur financial liability in the performance of any of
its duties or the exercise of any of its rights or powers in connection with this Agreement.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.6pt 0pt 60pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">15.
</FONT>Colliers will pay the reasonable fees and expenses of the Trustee in connection with the performance of the Trustee's obligations
hereunder, including the reasonable fees and disbursements of counsel or other experts employed by the Trustee but this Section
15 will not require Colliers to pay any fees or expenses in connection with any action taken by the Trustee pursuant to Section
9 and Section 10 if the Trustee has not delivered to Colliers the certificate referred to in Section 9 with respect to such action.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.7pt 0pt 60pt"><FONT STYLE="font-size: 9pt">16.
</FONT>The Trustee hereby accepts the appointment as trustee for the holders from time to time of the Subordinate Voting Shares
and the trusts in this Agreement declared and provided for and agrees to perform the same upon the terms and conditions herein
set forth and to hold and exercise the rights, privileges and benefits conferred upon it hereby in trust for the various persons
who are from time to time holders of Subordinate Voting Shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.85pt 0pt 60pt"><FONT STYLE="font-size: 9pt">17.
</FONT>In the exercise of its rights and duties hereunder, the Trustee will exercise that degree of care, diligence and skill
that a reasonably prudent trustee would exercise in comparable circumstances.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.65pt 0pt 60pt"><FONT STYLE="font-size: 9pt">18.
</FONT>The Trustee represents that at the time of the execution and delivery hereof no material conflict of interests exists in
the Trustee's role as a fiduciary hereunder and agrees that in the event of a material conflict of interest arising hereafter
it will, within one month after ascertaining that it has such material conflict of interest, either eliminate the same or resign
its trust hereunder. Subject to the foregoing, the Trustee, in its personal or any other capacity, may buy, lend upon and deal
in securities of Colliers and generally may contract with and enter into financial transactions with Colliers or any of its affiliates
without being liable to account for any profit made thereby.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.7pt 0pt 60pt"><FONT STYLE="font-size: 9pt">19.
</FONT>The parties hereto, other than the Trustee, covenant and agree that all certificates representing Multiple Voting Shares
will have endorsed thereon a legend to the effect that the Multiple Voting Shares represented by such certificates are subject
to the terms of this Agreement and that a copy of this Agreement may be examined at the head office of Colliers. Colliers will
maintain a true copy of this Agreement at its head office and will permit any shareholder of Colliers to inspect and make copies
thereof during normal business hours.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.7pt 0pt 60pt"><FONT STYLE="font-size: 9pt">20.
</FONT>It is acknowledged that damages may not be an adequate remedy if a party, other than the Trustee, bound by this Agreement
breaches any of its covenants contained herein. Therefore, the parties, other than the Trustee, agree that orders of specific
performance, injunctions, and other equitable remedies may be required to protect the parties hereto and the holders of Subordinate
Voting Shares and thus may be sought and obtained hereunder in lieu of or in addition to damages and all defences and protests
with respect to the seeking or granting thereof are hereby waived to the maximum extent permitted by law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.6pt 0pt 60pt"><FONT STYLE="font-size: 9pt; color: Black">21.
</FONT><FONT STYLE="color: Black">This Agreement amends and supersedes the Original Trust Agreement and will take effect on the
date hereof and shall terminate on the date upon which there are no longer any Multiple Voting Shares issued and outstanding;
provided, however, that the obligations of Colliers under Sections 14 and 15 shall survive. Colliers will provide notice to the
Trustee of the termination of this Agreement.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.7pt 0pt 60pt"><FONT STYLE="font-size: 9pt; color: Black">22.
</FONT><FONT STYLE="color: Black">This Agreement will not be amended, varied or modified and no provision thereof will be waived,
except with the approval of at least two-thirds of the votes cast by the holders of Subordinate Voting Shares present or represented
at a meeting duly called for the purpose of considering such amendment, variation, modification or waiver, which two-thirds majority
must include a simple majority of the votes cast by the holders of Subordinate Voting Shares, excluding any person (including
Henset) who owns Multiple Voting Shares, is an affiliate of a person who owns Multiple Voting Shares or is a person who has an
agreement to purchase Multiple Voting Shares prior to giving effect to the amendment, variation, modification or waiver.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.75pt 0pt 60pt"><FONT STYLE="font-size: 9pt; color: Black">23.
</FONT><FONT STYLE="color: Black">Notwithstanding the provisions of Section 22, this Agreement may be amended without the approval
of the holders of the Subordinate Voting Shares in order to correct or rectify any errors, ambiguities, defective provisions,
inconsistencies or omissions herein, provided that the Trustee is of the opinion, relying on the opinion of counsel, that the
rights hereunder of the holders of Subordinate Voting Shares will not be prejudiced in any material respect by such amendment
and further provided that the prior consent of the TSX in respect of such amendment had been received.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.85pt 0pt 60pt"><FONT STYLE="font-size: 9pt; color: Black">24.
</FONT><FONT STYLE="color: Black">No provision in this Agreement shall limit the rights of any holders of Subordinate Voting Shares
under applicable Canadian securities legislation.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.6pt 0pt 60pt"><FONT STYLE="font-size: 9pt; color: Black">25.
</FONT><FONT STYLE="color: Black">Any notice or other communication ma</FONT>de pursuant to or in connection with this Agreement
will be sufficiently given if it is in writing and delivered or sent by registered mail or by facsimile transmission, email or
other form of recorded communication:</P>

<P STYLE="margin: 0pt 17.6pt 0pt 60pt; font-size: 10pt; text-align: justify; text-indent: 35.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify; padding-right: 273.7pt">if to any of Jay or Henset, to: </TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 132pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 132pt; font-size: 10pt">c/o Henset Capital Inc.</P>

<P STYLE="margin: 0pt 0 0pt 132pt; font-size: 10pt">1140 Bay Street, Suite 4000</P>

<P STYLE="font-size: 10pt; margin: 0pt 332.9pt 0pt 132pt">Toronto, Ontario</P>

<P STYLE="margin: 0pt 332.9pt 0pt 132pt; font-size: 10pt">M5S 2B4</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 268.4pt 0pt 132pt">Attention: Jay S. Hennick</P>

<P STYLE="margin: 0pt 268.4pt 0pt 132pt; font-size: 10pt">Facsimile No.: 416-960-5333</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 132pt">Email: Jay.Hennick@colliers.com</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 95.95pt"></TD><TD STYLE="width: 36.05pt">(b)</TD><TD STYLE="text-align: left">if to Colliers, to:</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 275.4pt 0pt 132pt">1140 Bay Street, Suite 4000</P>

<P STYLE="margin: 0pt 275.4pt 0pt 132pt; font-size: 10pt">Toronto, Ontario</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 132pt">M5S 2B4</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 81.85pt 0pt 132pt">Attention: Vice President, Legal Counsel &amp; Corporate
Secretary</P>

<P STYLE="margin: 0pt 81.85pt 0pt 132pt; font-size: 10pt">Facsimile No: 416-960-5333</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 132pt">Email: Matthew.Hawkins@colliers.com</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 96pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: left; padding-right: 314.15pt">if to the Trustee, to: </TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 132pt">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 132pt; font-size: 10pt">TSX Trust Company</P>

<P STYLE="margin: 0pt 0 0pt 132pt; font-size: 10pt">301-100 Adelaide Street W.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 132pt">Toronto, ON, M5H 4H1</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 191.35pt 0pt 132pt">Attention: Vice President , Trust Services</P>

<P STYLE="margin: 0pt 191.35pt 0pt 132pt; font-size: 10pt">Facsimile No: 416 361
0470</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 132pt">Email: tmxestaff-corporatetrust@tmx.com</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 17.65pt 0pt 60pt">or to such other address as the party to whom such
notice or communication is to be given shall have last designated to the party giving the same in the manner specified in this
Section 25. Any such notice or communication shall be deemed to have been given and received on the day it is so delivered or sent
or on the third day following the mailing thereof in Ontario, as the case may be.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.6pt 0pt 60pt">26. This Agreement will be
governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable
therein. The terms &quot;<B>associate</B>&quot; and &quot;<B>affiliate</B>&quot; used herein will have the meanings ascribed
thereto under National Instrument 62- 104 &ndash; <I>Take-Over Bids and Issuer Bids</I> or any successor thereto or
replacement thereof. The term &ldquo;<B>counsel</B>&rdquo; used herein means a barrister or solicitor or a firm of barristers
and solicitors (who may be counsel for the Company) acceptable to the Trustee, acting reasonably.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.6pt 0pt 60pt"><FONT STYLE="font-size: 9pt">27.
</FONT> The Trustee shall retain the right not to act and shall not be liable for refusing to act if, due to a lack of information
or for any other reason whatsoever, the Trustee, in its sole judgment and acting reasonably, determines that such act might cause
it to be in non-compliance with any applicable anti-money laundering or anti-terrorist legislation, economic sanctions, regulation
or guideline. Further, should the Trustee, in its sole judgment and acting reasonably, determine at any time that its acting under
this Agreement has resulted in its being in non-compliance with any applicable anti-money laundering or anti-terrorist legislation,
economic sanctions, regulation or guideline, then it shall have the right to resign on ten (10) days&rsquo; written notice to
the Company or any shorter period of time as agreed to by the Company, provided that: (a) the Trustee&rsquo;s written notice shall
describe the circumstances of such non-compliance; and (b) if such circumstances are rectified to the Trustee&rsquo;s satisfaction
within such ten (10)-day period, then such resignation shall not be effective.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.75pt 0pt 60pt"><FONT STYLE="font-size: 9pt">28.
</FONT>No party to this Agreement shall be liable to the others, or held in breach of this Agreement, if prevented, hindered,
or delayed in the performance or observance of any provision contained herein by reason of act of God, riots, terrorism, acts
of war, epidemics, governmental action or judicial order, earthquakes, or any other similar causes (including general mechanical,
electronic or communication interruptions, disruptions or failures). Performance times under this Agreement shall be extended
for a period of time equivalent to the time lost because of any delay that is excusable under this Section 28.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.7pt 0pt 60pt">29. This Agreement will
enure to the benefit of and be binding upon the parties and their respective heirs, legal representatives, successors and
assigns, as applicable. Any entity resulting from the merger, amalgamation or continuation of the Trustee, or succeeding to
all or substantially all of its corporate trust business (by sale of such business or otherwise), shall thereupon
automatically become the Trustee hereunder without further act or formality.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.65pt 0pt 60pt"><FONT STYLE="font-size: 9pt">30.
</FONT>The parties hereto will do and perform and cause to be done and performed such further and other acts and things as may
be necessary or desirable in order to give full effect to this Agreement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.8pt 0pt 60pt">31. This Agreement
constitutes the entire agreement between the parties hereto with respect to the subject matter hereof.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.65pt 0pt 60pt">32. If any provision or
portion thereof of this Agreement or of the application thereof to any person or circumstance shall, to any extent, be
invalid or unenforceable, the remainder of this Agreement or the application of such provision or portion thereof to any
other person or circumstance shall not be affected thereby and each provision of this Agreement shall be valid and
enforceable to the fullest extent permitted by law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.75pt 0pt 60pt">33. This Agreement may be
simultaneously executed by the parties hereto in counterparts, each of which when so executed and delivered shall be deemed
to be an original and such counterparts together shall constitute one and the same instrument and notwithstanding their date
of execution they shall be deemed to be dated as of the date hereof. Delivery of an executed signature page to this Agreement
by any party by electronic transmission shall be as effective as delivery of a manually executed copy of this Agreement by
such party.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 35.95pt; margin: 0pt 0 0pt 60pt">34. Colliers shall do all things necessary to
facilitate the due performance of this Agreement including the fulfillment by the Multiple Voting Shareholders of their
obligations hereunder.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.]</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 35.95pt; margin: 0pt 2pt 0pt 60pt"><B>IN WITNESS WHEREOF</B>, the parties hereto have executed
these presents on the day and year first above written.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD><B>&nbsp;</B></TD>
    <TD COLSPAN="2"><B>HENSET CAPITAL INC.</B></TD>
    <TD><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>&lt;Signed&gt; Jay S. Hennick</I></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Jay S. Hennick</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: President</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 286pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD><B>&nbsp;</B></TD>
    <TD COLSPAN="2"><B>COLLIERS INTERNATIONAL GROUP INC.</B></TD>
    <TD><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>&lt;Signed&gt; Peter F. Cohen</I></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD> Name: Peter F. Cohen</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: Vice Chairman and Lead Director</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD><B>&nbsp;</B></TD>
    <TD COLSPAN="2"><B>TSX TRUST COMPANY</B></TD>
    <TD><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>&lt;Signed&gt; Michael Rosenberg</I></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Michael Rosenberg</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: Sr. Trust Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B></B></P>


<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 313pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 286.6pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="width: 6%">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 30%"><I>&lt;Signed&gt; Brett Higgs</I></TD>
    <TD STYLE="width: 9%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Brett Higgs</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: Corporate Trust Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; width: 30%">SIGNED AND DELIVERED</TD>
    <TD STYLE="width: 2%">)</TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 38%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">in the presence of</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><I>&lt;Signed&gt; Jonathan Ng</I></TD>
    <TD><I>)</I></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><I>&lt;Signed&gt; Jay S. Hennick</I></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">Signature of Witness</TD>
    <TD>)</TD>
    <TD STYLE="text-align: center">JAY S. HENNICK</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">Jonathan Ng</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">Print Name of Witness</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 40.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 40.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 40.5pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><I>Original Revised Trust Agreement with TSX Company as Trustee</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>
<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"><B></B></P>

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<P STYLE="margin: 0; text-align: left"><B></B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>exh_994.htm
<DESCRIPTION>EXHIBIT 99.4
<TEXT>
<html>
<head>
     <title></title>
</head>
<body style="font: 10pt Times New Roman, Times, Serif">

<p style="text-align: right; margin: 0"><b>Exhibit 99.4</b></p>

<p style="margin: 0">&nbsp;</p>

<p style="margin: 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: right; margin: 0pt 17.7pt 0pt 0"><b><i>Execution Version</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 196.15pt 0pt 238.05pt">TRUST AGREEMENT</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 96pt"><b>THIS TRUST AGREEMENT</b> (this &quot;<b>Agreement</b>&quot;) is made this 16<sup>th</sup>
day of April, 2021</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 60pt">AMONG:</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="margin: 0pt 0 0pt 100pt; font-size: 10pt"><b>JAY S. HENNICK</b>, an individual resident in the City of Toronto, Ontario</p>

<p style="margin: 0pt 0 0pt 24.1pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 100pt; font-size: 10pt">(&quot;<b>Jay</b>&quot;)</p>

<p style="margin: 0pt 376.85pt 0pt 24.1pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 100pt; font-size: 10pt">- and -</p>



<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 0 0pt 100pt; font-size: 10pt"><b>HENSET CAPITAL INC.</b>, a corporation existing under the laws of the Province
of Ontario</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 0 0pt 100pt; font-size: 10pt">(&quot;<b>Henset</b>&quot;)</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 0 0pt 100pt; font-size: 10pt"> - and -</p>



<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 0 0pt 100pt; font-size: 10pt"><b>COLLIERS INTERNATIONAL GROUP INC.</b>, a corporation amalgamated
under the laws of the Province of Ontario</p>

<p style="margin: 0pt 0 0pt 24.1pt; font-size: 10pt; text-align: justify">&nbsp;</p>

<p style="margin: 0pt 0 0pt 100pt; font-size: 10pt">(&quot;<b>Colliers</b>&quot;)</p>

<p style="margin: 0pt 376.85pt 0pt 24.1pt; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 100pt; font-size: 10pt">- and-</p>



<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 0 0pt 100pt; font-size: 10pt"><b>TSX TRUST COMPANY</b>, a trust company existing under
the laws of Canada duly authorized to carry on the business of a trust company in the Province of Ontario and having an office in the
City of Toronto, in the Province of Ontario</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 0 0pt 100pt; font-size: 10pt">(the &quot;<b>Trustee</b>&quot;)</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 60pt">RECITALS:</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 60pt"></td><td style="width: 36pt">A.</td><td style="text-align: justify; padding-right: 17.6pt">the authorized capital of Colliers consists of an unlimited number of preference
shares, issuable in series, an unlimited number of multiple voting shares (the &quot;<b>Multiple Voting Shares</b>&quot;) and an unlimited
number of subordinate voting shares (the &quot;<b>Subordinate Voting Shares</b>&quot;);</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 60pt"></td><td style="width: 36pt">B.</td><td style="text-align: justify; padding-right: 17.65pt">as at the date hereof, Henset owns 1,325,694 Multiple Voting Shares, representing
all of the issued and outstanding Multiple Voting Shares, and Henset, Jay and their respective associates (which includes, for the avoidance
of doubt, The Jay &amp; Barbara Hennick Family Foundation (the &quot;<b>Foundation</b>&quot;) for so long as Jay and his immediate family
controls the Foundation) and affiliates, beneficially own 1,325,694 Multiple Voting Shares and 5,350,383 Subordinate Voting Shares, including
345,014 Subordinate Voting Shares issuable upon the conversion of the 4.00% Convertible Senior Subordinated Notes of Colliers due 2025.
All of the issued and outstanding voting securities of Henset are owned by Jay</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

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    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt"></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 60pt"></td><td style="width: 36pt">C.</td><td style="text-align: justify; padding-right: 17.8pt">all of the issued and outstanding Subordinate Voting Shares are listed on the Toronto
Stock Exchange (the &quot;<b>TSX</b>&quot;) and The Nasdaq Stock Market (&quot;<b>NASDAQ</b>&quot;);</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 60pt"></td><td style="width: 36pt">D.</td><td style="text-align: justify; padding-right: 17.7pt">Jay, Henset, Colliers and The Equitable Trust Company were subject to a trust agreement
(the &quot;<b>Original Trust Agreement</b>&quot;) made as of the 22<sup>nd</sup> day of June, 1993, which Original Trust Agreement was
amended and superseded by a new trust agreement (the &quot;<b>Current Trust Agreement</b>&quot;) entered into among the parties hereto
in connection with the appointment of the Trustee as the successor trustee;</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 60pt"></td><td style="width: 36pt">E.</td><td style="text-align: justify; padding-right: 17.7pt">the Original Trust Agreement and Current Trust Agreement were entered into to ensure
that the Subordinate Voting Shares would be and continue to be listed on TSX and that the holders from time to time of Subordinate Voting
Shares would not be deprived of rights under applicable take-over bid legislation to which they would have been entitled in the event
of a take-over bid if the Multiple Voting Shares and the Subordinate Voting shares were considered to be a single class of shares;</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 60pt"></td><td style="width: 36pt">F.</td><td style="text-align: justify; padding-right: 17.65pt">Jay, Henset, Colliers and others have entered into a transaction agreement (the
&quot;<b>Transaction Agreement</b>&quot;) made the 26<sup>th</sup> day of February, 2021 pursuant to which, among other things, Jay, Henset
and Colliers agreed to enter into this Agreement (which is in addition to the Current Trust Agreement) to provide for the sunset provisions
for the Multiple Voting Shares and a restriction on the ability to sell the Multiple Voting Shares for consideration which is greater
than 115% of the market price of the Multiple Voting Shares;</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 60pt"></td><td style="width: 36pt">G.</td><td style="text-align: justify; padding-right: 17.8pt">Colliers, Henset and Jay wish to constitute the Trustee as the trustee for the
holders from time to time of the Subordinate Voting Shares for the purposes hereinafter set forth with the intent that such holders, through
the Trustee, will receive the benefit of the covenants of Colliers, Henset and Jay contained in this Agreement; and</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 60pt"></td><td style="width: 36pt">H.</td><td style="text-align: justify; padding-right: 0.25in">the foregoing recitals are made as representations and statements of fact by Jay,
Henset and Colliers and not the Trustee.</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 21.4pt 0pt 63.6pt"><b>NOW THEREFORE THIS AGREEMENT WITNESSETH </b>that in
consideration of the premises herein contained and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the parties hereto covenant and agree as follows:</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">1. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;No Multiple Voting Shares owned by Henset may be
sold, directly or indirectly, at a price greater than the market price (as hereinafter defined) of the Subordinate Voting Shares on
the date of any agreement to sell such Multiple Voting Shares, unless such sale is made: (a) through the facilities of NASDAQ or the
TSX; (b) pursuant to a take-over bid which satisfies the requirements of Section 2 of the Current Trust Agreement; (c) pursuant to a
transaction other than a take-over bid where there is a concurrent offer made to purchase Subordinate Voting Shares from, or for the
acquisition of Subordinate Voting Shares from, the holders of Subordinate Voting Shares on terms that are at least as favourable to
the holders of Subordinate Voting Shares as those made to the holders of Multiple Voting Shares (including, without limitation,
pursuant to an amalgamation, arrangement, business combination or other similar transaction); (d) pursuant to an issuer bid (as such
term is defined in National Instrument 62-104 &ndash; <i>Take-Over Bids and Issuer Bids </i>or any successor thereto or replacement
thereof); or (e) pursuant to the granting, directly or indirectly, of a security interest which satisfies the requirements of
Section 8 of the Current Trust Agreement. For the purposes of this Agreement, &quot;<b>market price</b>&quot; shall be determined in
accordance with section 1.11(1) of National Instrument 62-104 &ndash; <i>Take-Over Bids and Issuer Bids</i> or any successor thereto
or replacement thereof.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

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<p style="margin: 0pt 0; font-size: 10pt"></p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">2. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Without limiting the generality of Section 1: (a)
a sale will be deemed to be an indirect sale of Multiple Voting Shares owned by Henset for the purposes of Section 1 if the offer
pursuant to which such sale is made would be deemed to be an indirect offer for the Multiple Voting Shares under the take-over bid
provisions of applicable Canadian securities legislation; and (b) any sale which would result in the direct or indirect acquisition
of ownership of Multiple Voting Shares or in the direct or indirect acquisition of control or direction over such shares, other than
as permitted by Section 2 of the Current Trust Agreement, shall be construed to be a sale of such Multiple Voting Shares.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">3. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Henset will use its best efforts to prevent any
person or company from carrying out an indirect sale in respect of any Multiple Voting Shares owned from time to time by Henset,
regardless of whether such person or company is a party to this Agreement, other than as permitted by Section 1.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">4. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If any person or company carries out a sale
(whether a direct or indirect) other than as permitted by Section 1 (and having regard to Section 2) in respect of any Multiple
Voting Shares owned from time to time by Henset, Henset will not at the time such sale becomes effective or thereafter do any of the
following with respect to any of the Multiple Voting Shares so sold:</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 95.95pt"></td><td style="width: 36.05pt">(a)</td><td style="text-align: left">dispose of them without the prior written consent of the Trustee;</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 96pt"></td><td style="width: 36pt">(b)</td><td style="text-align: left; padding-right: 0.25in">convert them into Subordinate Voting Shares without the prior written consent of the
Trustee; or</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 95.95pt"></td><td style="width: 36.05pt">(c)</td><td style="text-align: left">exercise any voting rights attaching to them</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">in each case, except in accordance with the written instructions
of the Trustee, and Henset will comply with such instructions. The Trustee may attach conditions to any consent the Trustee gives in exercising
its rights hereunder. The Trustee will exercise such rights in a manner that the Trustee, relying on the opinion of counsel, considers
to be: (i) in the best interests of the holders of the Subordinate Voting Shares, other than Henset and holders of Subordinate Voting
Shares who, in the opinion of the Trustee, relying on the opinion of counsel, participated directly or indirectly in the transaction that
triggered the operation of this Section 4; and (ii) consistent with the intentions of the parties hereto, other than the Trustee, in entering
into this Agreement, as such intentions are set out in the recitals to this Agreement.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">5. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Henset will not effect or facilitate
a disposition of any Multiple Voting Shares (including, subject to Section 8 of the Current Trust Agreement, granting a security interest
therein) permitted by Section 1 unless the disposition is conditional upon the person or company acquiring such Multiple Voting Shares
becoming a party to an agreement on the same terms and conditions, <i>mutatis mutandis, </i>as this Agreement, under which such person
or company will have the same rights and obligations as the party effecting or facilitating such disposition hereunder and in which all
references in this Agreement to the party effecting or facilitating such disposition will be to the acquiring person or company. The
conversion of Multiple Voting Shares into Subordinate Voting Shares, whether or not such Subordinate Voting Shares are subsequently sold,
will not constitute a disposition of Multiple Voting Shares which is prohibited by Section 1 of this Agreement.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">6. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Henset shall immediately convert all of the issued
and outstanding Multiple Voting Shares into Subordinate Voting Shares (on the basis (as of the date hereof) of one Subordinate
Voting Share for each Multiple Voting Share so converted, without any other consideration), pursuant to</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 11.15pt 0pt 60pt"></p>

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    <!-- Field: /Page -->

<p style="margin: 0pt 11.15pt 0pt 60pt; font-size: 10pt">the right of a holder of Multiple Voting Shares contained in the articles of
Colliers, on the earliest to occur of:</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 96pt"></td><td style="width: 36pt">(a)</td><td style="text-align: justify; padding-right: 17.7pt">the date that the sum of the number of Multiple Voting Shares and Subordinate Voting
Shares beneficially owned by Henset and Jay, together with their respective associates (including, for the avoidance of doubt, the Foundation
for so long as Jay and his immediate family controls the Foundation) and affiliates, and including through the ownership of securities
convertible into or exchangeable or exercisable for Subordinate Voting Shares, is less than 4,000,000, as such number shall be equitably
adjusted to reflect the effect of any share splits, share consolidations, share reorganizations, recapitalizations, or other similar changes
to the outstanding capital structure of Colliers subsequent to the date hereof, and including for greater certainty through the issuance
or other distribution of Subordinate Voting Shares or securities convertible into or exchangeable or exercisable for Subordinate Voting
Shares to all or substantially all holders of Multiple Voting Shares and Subordinate Voting Shares;</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 96pt"></td><td style="width: 36pt">(b)</td><td style="text-align: justify; padding-right: 17.6pt">the date that is twenty four (24) months after the date of the termination or
                                                             expiry of the management services agreement (the &quot;<b>New MSA</b>&quot;) entered into as of the date hereof among Jay, Jayset
                                                             Management Inc. (or an affiliate thereof) (&quot;<b>ManagementCo</b>&quot;) and Colliers due to any of the following: (i) the death
                                                             of Jay; (ii)<font style="font-size: 10pt">&nbsp; </font>a <i>bona
fide</i> illness, physical or mental, where Jay unable to devote his time and attention (on behalf ManagementCo) to the business and
affairs of Colliers as required under the New MSA for the period specified under Section 4.6(a) of the New MSA and as determined in
accordance with Section 4.6(c) of the New MSA; (iii)<font style="font-size: 10pt">&nbsp; </font>the voluntary termination of the New
MSA by Jay and/or ManagementCo or the election of Jay and/or ManagementCo not to renew or extend the then term of the New MSA; or
(iv) the occurrence of one of the specified cause reasons contained in Section 4.5 of the New MSA; or</td></tr></table>

<p style="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 17.7pt 0pt 132pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 95.95pt"></td><td style="width: 36.05pt">(c)</td><td style="text-align: left">September 1, 2028.</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">7. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In the event that the Trustee has been provided
with information, as a result of which it has reasonable cause to believe that any provision of this Agreement has been or may be
breached (by any person other than the Trustee), the Trustee shall, relying on the opinion of counsel, make reasonable inquiries to
determine whether: (i) such a breach has occurred or is intended to occur, and (ii) such breach or intended breach can be corrected
expeditiously and without prejudice to the <i>bona fide</i> interests of the holders of Subordinate Voting Shares, and if so, the
steps proposed to be taken by such parties to correct such breach or intended breach. If the Trustee thereupon determines that a
breach or intended breach has occurred or is intended and either cannot be corrected expeditiously or the steps proposed to be taken
to correct such breach or intended breach will not adequately correct such breach expeditiously and without prejudice to the <i>bonda
fide </i>interests of the holders of Subordinate Voting Shares, the Trustee shall forthwith deliver to Colliers a certificate
stating that the Trustee has made such determination. The Trustee will thereupon be entitled to take and, subject to Section 9, will
take such action as the Trustee, acting on the opinion of counsel, considers necessary to enforce its rights under this agreement on
behalf of the holders of the Subordinate Voting Shares.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.75pt 0pt 60pt">For greater certainty, it is acknowledged
by all parties that the Trustee does not act as transfer agent for the Multiple Voting Shares and will have no knowledge of any sale or
potential sale of Multiple Voting Shares unless notified of such hereunder.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 35.95pt; margin: 0pt 17.85pt 0pt 60pt"></p>

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<p style="margin: 0pt 17.85pt 0pt 60pt; font-size: 10pt; text-align: justify; text-indent: 35.95pt">Nothing in this Section 7 shall impose
on the Trustee any obligation to make inquiries as to any breach or intended breach of this Agreement provided that the Trustee does not
have reasonable cause to believe that such a breach has occurred or is intended. Where the Trustee does not have any reasonable cause
to so believe, the Trustee shall have no liability under this Section 7 in respect of any breach or intended breach.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">8. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Subject to Section 9, in the event holders of not
less than 10% of the then outstanding Subordinate Voting Shares determine that any provision of this Agreement has been or will be
breached (by any person other than the Trustee), such holders may require the Trustee to take action in connection therewith by
delivering to the Trustee a requisition in writing signed in one or more counterparts by such registered holders and setting forth
the action to be taken by the Trustee, and upon receipt by the Trustee of such a requisition, the Trustee will forthwith take such
action as is specified in the requisition and any other action that the Trustee, relying on the opinion of counsel, considers
necessary to enforce its rights under this Agreement on behalf of the holders of the Subordinate Voting Shares; provided that the
Trustee shall in the first instance determine, relying on an opinion of counsel, whether the breach or intended breach can be
corrected expeditiously and without prejudice to the bona fide interests of the holders of the Subordinate Voting Shares, and if so,
whether the steps proposed to be taken by Jay, Henset, Colliers and/or a beneficial owner to correct such breach or intended breach
will adequately correct such breach expeditiously and without prejudice to the <i>bona fide</i> interests of the holders of
Subordinate Voting Shares.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">9. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The obligation of the Trustee to take any action
on behalf of the holders of the Subordinate Voting Shares will be conditional upon the Trustee receiving from Colliers or from one
or more holders of Subordinate Voting Shares: (i) such funds and indemnities as the Trustee may reasonably require in respect of any
fees, costs or expenses which it may incur or any liability that it may be exposed to in connection with any such action; and (ii)
conclusive evidence of the registered holdings of the holders of Subordinate Voting Shares, including, but not limited to, a
register showing the registered holders of outstanding Subordinate Voting Shares, the number of Subordinate Voting Shares so held by
each holder and the total number of then outstanding Subordinate Voting Shares. Colliers will provide such funding and indemnities
to the Trustee if the Trustee has delivered to Colliers the certificate referred to in Section 7.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">10. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;No holder of Subordinate Voting Shares will have
the right, other than through the Trustee, to institute any action or proceeding or to exercise any other remedy for the purpose of
enforcing any rights arising from this Agreement unless holders of Subordinate Voting Shares have requested in the manner specified
in Section 8 that the Trustee act and have provided reasonable funds and indemnities to the Trustee and the Trustee has failed to so
act within 30 days after the provision of such funds and indemnities. In such case, any holder of Subordinate Voting Shares acting
on behalf of such holder and all other holders of Subordinate Voting Shares will be entitled to initiate whatever proceedings that
the Trustee would have been entitled to initiate in any court of competent jurisdiction.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">11. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The Trustee may resign and be discharged from all
further duties and liabilities hereunder, subject to this Section 11, after giving 60 days' written notice to the other parties
hereto or such shorter notice as such parties may accept as sufficient. Colliers will have the power at any time to remove the
existing Trustee, provided such removal does not adversely affect the interests of the holders of the Subordinate Voting Shares,
after giving the Trustee 30 days' written notice of such removal or such shorter notice that the Trustee will accept as sufficient.
In the event that the office of the Trustee becomes vacant due to the removal of the existing Trustee by Colliers, Colliers will
forthwith appoint a new trustee which must be one of the largest five corporations (in</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify"></p>

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<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">terms of assets under administration) licensed or authorized
to carry on the business of a trust company in Ontario. In the event that the office of the Trustee becomes vacant otherwise than by removal
of the Trustee by Colliers, Colliers will forthwith appoint a new trustee which must be a corporation licensed or authorized to carry
on the business of a trust company in Ontario; failing such appointment, any of the parties hereto or any holder of Subordinate Voting
Shares may apply to a judge of the Ontario Superior Court of Justice for the appointment of a new trustee. Upon any new appointment, the
new trustee will be vested with the same powers, rights, duties and responsibilities as if it had been originally named herein as the
Trustee, but there will be immediately executed, at the expense of Colliers, all such instruments as may be, in the opinion of counsel
to Colliers, necessary or desirable to assure such vesting. Any resignation of the Trustee will not become effective until the successor
party executes an appropriate instrument accepting the appointment of the new trustee. Notwithstanding such resignation or removal, the
Trustee will continue to be indemnified in accordance with Section 12.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="text-align: right; width: 96pt">12.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</td><td style="width: 36pt">(a)</td><td style="text-align: justify; padding-right: 17.55pt">Jay, Henset and
Colliers (and any of their respective successors or assigns hereunder) hereby jointly and severally indemnify and save harmless the Trustee
from and against all claims, losses, damages, costs, penalties, fines and reasonable expenses (including reasonable expenses of the Trustee&rsquo;s
legal counsel) which may be paid, incurred or suffered by the Trustee by reason of or as a result of the Trustee&rsquo;s acceptance or
administration of the trust hereunder, its compliance with its duties set forth in this Agreement or any written, electronic or oral
instructions delivered to the Trustee by Colliers pursuant hereto, except to the extent that the same results from its own gross negligence,
willful misconduct or bad faith. In no case shall Jay, Henset and Colliers be liable under the indemnity in this subsection 12(a) for
any claim against the Trustee unless such parties shall be notified by the Trustee of the written assertion of a claim or of any action
commenced against the Trustee, as soon as practicable after the Trustee shall have received any such written assertion of a claim, or
shall have been served with a summons or other first legal process giving information as to the nature and basis of the claim. Jay, Henset
and/or Colliers shall be entitled to participate at its own expense in the defence of the assertion or claim. Subject to paragraph 12(a)(ii),
Jay, Henset and/or Colliers may elect at any time after receipt of such notice to assume the defence of any suit brought to enforce any
such claim. The Trustee shall have the right to employ separate counsel in any such suit and participate in the defence thereof, but
the fees and expenses of such counsel shall be at the expense of the Trustee unless:</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 132pt"></td><td style="width: 36pt">(i)</td><td style="text-align: justify; padding-right: 17.75pt">the employment of such counsel has been authorized by Jay, Henset or Colliers;
or</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 132pt"></td><td style="width: 36pt">(ii)</td><td style="text-align: justify; padding-right: 17.65pt">the named parties to any such suit include both the Trustee, Jay, Henset and/or
Colliers and the Trustee shall have been advised by counsel acceptable to Jay, Henset and Colliers that there may be one or more legal
defences available to the Trustee that are different from or in addition to those available to Jay, Henset and/or Colliers (in which case
Jay, Henset and Colliers shall not have the right to assume the defence of such suit on behalf of the Trustee but shall be jointly and
severally liable to pay the reasonable fees and expenses of counsel for the Trustee).</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 132pt">For greater certainty, this indemnity will include any claims, losses, damages, costs,
penalties, fines incurred or suffered by the Trustee arising under the Original</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 132pt"></p>

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<p style="margin: 0pt 0 0pt 132pt; font-size: 10pt">Trust Agreement. This indemnity shall survive the resignation or removal of the Trustee
and the termination of this Agreement.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 96pt"></td><td style="width: 36pt">(b)</td><td style="text-align: justify; padding-right: 17.8pt">The Trustee may employ or retain such counsel (who may be counsel to Colliers),
auditors, accountants or other experts or advisers, whose qualifications give authority to any opinion or report made by them as it may
reasonably require for the purpose of discharging its duties hereunder and will not be responsible for any misconduct or negligence on
the part of any of them. The Trustee may, if it is acting in good faith, rely on the accuracy of any such opinion or report.</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 96pt"></td><td style="width: 36pt">(c)</td><td style="text-align: justify; padding-right: 17.7pt">The Trustee will have no responsibility, if it is acting in good faith, for the
genuineness or validity of any securities, documents or other things deposited with it. In the exercise of its rights, duties and obligations
hereunder, the Trustee may, if it is acting in good faith, rely as to the truth of the statements made in any certificates or other documents
provided to it.</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 96pt"></td><td style="width: 36pt">(d)</td><td style="text-align: justify; padding-right: 17.95pt">The Trustee shall not be liable for any action taken or omitted to be taken by
it under or in connection with this Agreement, except for its own gross negligence, willful misconduct or bad faith.</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 96pt"></td><td style="width: 36pt">(e)</td><td style="text-align: justify; padding-right: 17.65pt">The Trustee may, if it is acting in good faith, rely, as to the truth of the statements
and the correctness of the opinions expressed therein, upon any instruction, advice, notice, opinion or other document believed by it
to be genuine and to have been signed or presented by the proper party or parties and, subject to subsection 12(d), shall be under no
liability with respect to any action taken or omitted to be taken in accordance with such instruction, advice, notice, opinion or other
document.</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 96pt"></td><td style="width: 36pt">(f)</td><td style="text-align: justify; padding-right: 17.65pt">This Agreement sets forth exclusively the duties of the Trustee with respect to
any and all matters pertinent hereto and no implied duties or obligations shall be read into the agreement against the Trustee, including
any agreement referred to in this Agreement to which the Trustee is not a party, including without limitation, the Original Trust Agreement.</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 96pt"></td><td style="width: 36pt">(g)</td><td style="text-align: justify; padding-right: 17.75pt">None of the provisions of this Agreement shall require the Trustee under any circumstances
whatsoever to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties or the exercise
of any of its rights or powers in connection with this Agreement.</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">13. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Colliers will pay the reasonable fees and
expenses of the Trustee in connection with the performance of the Trustee's obligations hereunder, including the reasonable fees and
disbursements of counsel or other experts employed by the Trustee but this Section 13 will not require Colliers to pay any fees or
expenses in connection with any action taken by the Trustee pursuant to Section 7 and Section 8 if the Trustee has not delivered to
Colliers the certificate referred to in Section 7 with respect to such action.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">14. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Trustee hereby accepts the appointment as trustee for the holders from time to time of the Subordinate Voting Shares and the trusts in
this Agreement declared and provided for and agrees to perform the same upon the terms and conditions herein set forth and to hold and
exercise the rights, privileges and benefits conferred upon it hereby in trust for the various persons who are from time to time holders
of Subordinate Voting Shares.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify"></p>

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<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">15. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In the exercise of its rights and duties
hereunder, the Trustee will exercise that degree of care, diligence and skill that a reasonably prudent trustee would exercise in
comparable circumstances.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">16. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The Trustee represents that at the time of the
execution and delivery hereof no material conflict of interests exists in the Trustee's role as a fiduciary hereunder and agrees
that in the event of a material conflict of interest arising hereafter it will, within one month after ascertaining that it has such
material conflict of interest, either eliminate the same or resign its trust hereunder. Subject to the foregoing, the Trustee, in
its personal or any other capacity, may buy, lend upon and deal in securities of Colliers and generally may contract with and enter
into financial transactions with Colliers or any of its affiliates without being liable to account for any profit made thereby.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">17. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The parties hereto, other than the Trustee,
covenant and agree that all certificates representing Multiple Voting Shares issued after the date hereof will have endorsed thereon
a legend to the effect that the Multiple Voting Shares represented by such certificates are subject to the terms of this Agreement
and that a copy of this Agreement may be examined at the head office of Colliers. Colliers will maintain a true copy of this
Agreement at its head office and will permit any shareholder of Colliers to inspect and make copies thereof during normal business
hours.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">18. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;It is acknowledged that damages may not be an
adequate remedy if a party, other than the Trustee, bound by this Agreement breaches any of its covenants contained herein.
Therefore, the parties, other than the Trustee, agree that orders of specific performance, injunctions, and other equitable remedies
may be required to protect the parties hereto and the holders of Subordinate Voting Shares and thus may be sought and obtained
hereunder in lieu of or in addition to damages and all defences and protests with respect to the seeking or granting thereof are
hereby waived to the maximum extent permitted by law.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">19. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This Agreement will take effect on the date
hereof and shall terminate on the date upon which there are no longer any Multiple Voting Shares issued and outstanding; provided,
however, that the obligations of Colliers under Sections 12 and 13 shall survive. Colliers will provide notice to the Trustee of the
termination of this Agreement.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">20. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This Agreement will not be amended, varied or
modified and no provision thereof will be waived, except with the approval of at least two-thirds of the votes cast by the holders
of Subordinate Voting Shares present or represented at a meeting duly called for the purpose of considering such amendment,
variation, modification or waiver, which two-thirds majority must include a simple majority of the votes cast by the holders of
Subordinate Voting Shares, excluding any person (including Henset) who owns Multiple Voting Shares, is an affiliate of a person who
owns Multiple Voting Shares or is a person who has an agreement to purchase Multiple Voting Shares prior to giving effect to the
amendment, variation, modification or waiver.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">21. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Notwithstanding the provisions of Section 20,
this Agreement may be amended without the approval of the holders of the Subordinate Voting Shares in order to correct or rectify
any errors, ambiguities, defective provisions, inconsistencies or omissions herein, provided that the Trustee is of the opinion,
relying on the opinion of counsel, that the rights hereunder of the holders of Subordinate Voting Shares will not be prejudiced in
any material respect by such amendment and further provided that the prior consent of the TSX in respect of such amendment had been
received.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify"></p>

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<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">22. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;No provision in this Agreement shall limit the
rights of any holders of Subordinate Voting Shares under applicable Canadian securities legislation.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">23. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Any notice or other communication made pursuant
to or in connection with this Agreement will be sufficiently given if it is in writing and delivered or sent by registered mail or
by facsimile transmission, email or other form of recorded communication:</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 96pt"></td><td style="width: 36pt">(a)</td><td style="text-align: justify; padding-right: 303.2pt"><p style="margin-top: 0; margin-bottom: 0">if to Jay or Henset, to:</p>
                                                                                <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
                                                                                <p style="margin-top: 0; margin-bottom: 0">c/o Henset Capital Inc.</p></td></tr></table>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 276.25pt 0pt 132pt">1140 Bay Street, Suite 4000</p>

<p style="margin: 0pt 276.25pt 0pt 132pt; font-size: 10pt; text-align: justify">Toronto, Ontario</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 132pt">M5S 2B4</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 268.4pt 0pt 132pt">Attention:&#9;Jay S. Hennick</p>

<p style="margin: 0pt 268.4pt 0pt 132pt; font-size: 10pt">Facsimile No.: 416-960-5333</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 132pt">Email:&#9;Jay.Hennick@colliers.com</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 95.95pt"></td><td style="width: 36.05pt">(b)</td><td style="text-align: left">if to Colliers, to:</td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 275.4pt 0pt 132pt">1140 Bay Street, Suite 4000</p>

<p style="margin: 0pt 275.4pt 0pt 132pt; font-size: 10pt">Toronto, Ontario</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 132pt">M5S 2B4</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 81.85pt 0pt 132pt">Attention:&#9;Vice President, Legal Counsel &amp; Corporate Secretary</p>

<p style="margin: 0pt 81.85pt 0pt 132pt; font-size: 10pt">Facsimile
No: 416-960-5333</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 132pt">Email:&#9;Matthew.Hawkins@colliers.com</p>

<p style="margin: 0pt 0 0pt 132pt; font-size: 10pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 96pt"></td><td style="width: 36pt">(c)</td><td style="text-align: left; padding-right: 314.15pt"><p style="margin-top: 0; margin-bottom: 0">if to the Trustee, to:</p>
                                                                                <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
                                                                                <p style="margin-top: 0; margin-bottom: 0">TSX Trust Company</p></td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0 0pt 132pt">301-100 Adelaide Street W.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 132pt">Toronto, ON, M5H 4H1</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 191.35pt 0pt 132pt">Attention:&#9;Vice President , Trust Services</p>

<p style="margin: 0pt 191.35pt 0pt 132pt; font-size: 10pt">Facsimile No: 416 361 0470</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 132pt">Email:&#9;tmxestaff-corporatetrust@tmx.com</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">or to such other address as the party to whom such notice
or communication is to be given shall have last designated to the party giving the same in the manner specified in this Section 23. Any
such notice or communication shall be deemed to have been given and received on the day it is so delivered or sent or on the third day
following the mailing thereof in Ontario, as the case may be.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">24. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This Agreement will be governed by and construed
in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. The terms
&quot;<b>associate</b>&quot; and &quot;<b>affiliate</b>&quot; used herein will have the meanings ascribed thereto under National
Instrument 62- 104 &ndash; <i>Take-Over Bids and Issuer Bids</i> or any successor thereto or replacement thereof. The term
&ldquo;counsel&rdquo; used herein means a barrister or solicitor or a firm of barristers and solicitors (who may be counsel for the
Company) acceptable to the Trustee, acting reasonably.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify"></p>

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<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">25. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The Trustee shall retain the right not to act and
shall not be liable for refusing to act if, due to a lack of information or for any other reason whatsoever, the Trustee, in its
sole judgment and acting reasonably, determines that such act might cause it to be in non-compliance with any applicable anti-money
laundering or anti-terrorist legislation, economic sanctions, regulation or guideline. Further, should the Trustee, in its sole
judgment and acting reasonably, determine at any time that its acting under this Agreement has resulted in its being in
non-compliance with any applicable anti-money laundering or anti-terrorist legislation, economic sanctions, regulation or guideline,
then it shall have the right to resign on ten (10) days&rsquo; written notice to the Company or any shorter period of time as agreed
to by the Company, provided that: (a) the Trustee&rsquo;s written notice shall describe the circumstances of such non-compliance;
and (b) if such circumstances are rectified to the Trustee&rsquo;s satisfaction within such ten (10)-day period, then such
resignation shall not be effective.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">26. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;No party to this Agreement shall be liable to the
others, or held in breach of this Agreement, if prevented, hindered, or delayed in the performance or observance of any provision
contained herein by reason of act of God, riots, terrorism, acts of war, epidemics, governmental action or judicial order,
earthquakes, or any other similar causes (including general mechanical, electronic or communication interruptions, disruptions or
failures). Performance times under this Agreement shall be extended for a period of time equivalent to the time lost because of any
delay that is excusable under this Section 26.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">27. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This Agreement will enure to the benefit of and
be binding upon the parties and their respective heirs, legal representatives, successors and assigns, as applicable. Any entity
resulting from the merger, amalgamation or continuation of the Trustee, or succeeding to all or substantially all of its corporate
trust business (by sale of such business or otherwise), shall thereupon automatically become the Trustee hereunder without further
act or formality.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">28. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The parties hereto will do and perform and cause
to be done and performed such further and other acts and things as may be necessary or desirable in order to give full effect to
this Agreement.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">29. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Other than as contemplated herein, this Agreement
constitutes the entire agreement between the parties hereto with respect to the subject matter hereof.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">30. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If any provision or portion thereof of this
Agreement or of the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the
remainder of this Agreement or the application of such provision or portion thereof to any other person or circumstance shall not be
affected thereby and each provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">31. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This Agreement may be simultaneously executed by
the parties hereto in counterparts, each of which when so executed and delivered shall be deemed to be an original and such
counterparts together shall constitute one and the same instrument and notwithstanding their date of execution they shall be deemed
to be dated as of the date hereof. Delivery of an executed signature page to this Agreement by any party by electronic transmission
shall be as effective as delivery of a manually executed copy of this Agreement by such party.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 21.4pt 0pt 63.6pt; font-size: 10pt; text-align: justify">32. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Colliers shall do all things necessary to
facilitate the due performance of this Agreement, including the fulfillment by Henset of its obligations hereunder.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.]</p>

<p style="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 35.95pt; margin: 0pt 2pt 0pt 60pt"></p>

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<p style="margin: 0pt 2pt 0pt 60pt; font-size: 10pt; text-indent: 35.95pt"><b>IN WITNESS WHEREOF</b>, the parties hereto have executed
these presents on the day and year first above written.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 286pt"><b>HENSET CAPITAL INC.</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 285.95pt"></td><td style="width: 27.05pt">Per:</td><td style="padding-right: 7.85pt"><p style="margin-top: 0; margin-bottom: 0"><i><u>&lt;Signed&gt; Jay S. Hennick</u></i><u></u></p>
                                                                                <p style="margin-top: 0; margin-bottom: 0">Name: Jay S. Hennick</p></td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0 0pt 313pt">Title:&#9;President</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 286.6pt"><b>COLLIERS INTERNATIONAL GROUP INC.</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 286.55pt"></td><td style="width: 27.05pt">Per:</td><td style="padding-right: 7.35pt"><p style="margin-top: 0; margin-bottom: 0"><i><u>&lt;Signed&gt; Peter F. Cohen</u></i><u>&#9;</u></p>
                                                                                <p style="margin-top: 0; margin-bottom: 0">Name: Peter F. Cohen</p></td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0 0pt 313.6pt">Title:&#9;Vice Chairman and Lead Director</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 286.6pt"><b>TSX TRUST COMPANY</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="margin: 0pt 28.5pt 0pt 313.6pt; font-size: 10pt"><u>&lt;Signed&gt; Michael Rosenberg</u></p>

<p style="font-size: 10pt; margin: 0pt 28.5pt 0pt 313.6pt">Name: Michael Rosenberg</p>

<p style="font-size: 10pt; margin: 0pt 28.5pt 0pt 313.6pt">Title: Sr. Trust Officer</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 286.55pt"></td><td style="width: 27.05pt">Per:</td><td style="padding-right: 7.35pt"><p style="margin-top: 0; margin-bottom: 0"><i><u>&lt;Signed&gt; Brett Higgs</u></i><u>&#9;</u></p>
                                                                                <p style="margin-top: 0; margin-bottom: 0">Name: Brett Higgs</p></td></tr></table>

<p style="font-size: 10pt; margin: 0pt 0 0pt 313.6pt">Title: Corporate Trust Officer</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">SIGNED AND DELIVERED&#9;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">in the presence of&#9;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in"><i><u>&lt;Signed&gt; Jonathan Ng</u></i></p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">Signature of Witness</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in"><u>Jonathan Ng</u>________</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">Print Name of Witness</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&#9;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><font style="font-size: 10pt"><i>Trust Agreement with TSX</i></font></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 40.5pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 40.5pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 40.5pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 40.5pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 40.5pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 40.5pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 40.5pt">&nbsp;</p>

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<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>exh_995.htm
<DESCRIPTION>EXHIBIT 99.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.5</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right">EXECUTION VERSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">COLLIERS INTERNATIONAL
EMEA FINCO PLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">COLLIERS INTERNATIONAL GROUP INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">___________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">CONSENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Dated as of April 6, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">NOTE PURCHASE AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Dated as of May 17, 2018</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">___________________________________________</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#8364;210,000,000</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">2.23% Guaranteed Senior
Notes due May 30, 2028</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 168.85pt 0pt 121.95pt; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 168.85pt 0pt 121.95pt; text-align: center"><B>CONSENT TO NOTE PURCHASE
AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.7pt 0pt 11pt; text-align: justify; text-indent: 0.5in">THIS CONSENT TO NOTE PURCHASE AGREEMENT dated
as of April 6, 2021 (this &#8220;<B><I>Consent</I></B>&#8221;), to the Note Purchase Agreement dated as of May 17, 2018, (as
amended pursuant to the First Amendment dated April 4, 2019, as amended by the Second Amendment dated March 27, 2020, as
amended by the Third Amendment dated May 13, 2020 and as amended by the Fourth Amendment dated October 9, 2020) is by and
among C<FONT STYLE="font-size: 10pt">OLLIERS </FONT>I<FONT STYLE="font-size: 10pt">NTERNATIONAL </FONT>EMEA F<FONT STYLE="font-size: 10pt">INCO </FONT>PLC
(the <I>&#8220;<B>Company</B>&#8221;</I>), C<FONT STYLE="font-size: 10pt">OLLIERS </FONT>I<FONT STYLE="font-size: 10pt">NTERNATIONAL </FONT>G<FONT STYLE="font-size: 10pt">ROUP </FONT>I<FONT STYLE="font-size: 10pt">NC</FONT>.
(the &#8220;<B><I>Parent Guarantor</I></B>&#8221;, and together with the Company, the &#8220;<B><I>Obligors</I></B>&#8221;)
and each of the institutions that is a signatory to this Consent (collectively, the <I>&#8220;<B>Noteholders</B>&#8221;</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 168.85pt 0pt 121.95pt; text-align: center"><B>R ECI T A L S:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.7pt 0pt 11pt; text-align: justify; text-indent: 0.5in">A.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company, the Parent Guarantor and each of the Noteholders have heretofore entered into the Note Purchase Agreement dated
as of May 17, 2018 (as the same may be further amended, restated, supplemented or otherwise modified from time to time, the <I>&#8220;<B>Note
Agreement</B>&#8221;</I>), pursuant to which the Company issued &#8364;210,000,000 aggregate principal amount of its 2.23% Guaranteed
Senior Notes due May 30, 2028 (as the same may be amended, restated, supplemented, replaced or exchanged or otherwise modified
from time to time, the &#8220;<B><I>Notes</I></B>&#8221;). Capitalized terms used herein but not defined herein shall have the
meanings ascribed thereto in the Note Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.8pt 0pt 11pt; text-align: justify; text-indent: 0.5in">B.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The obligations of the Company under the Note Agreement and the Notes have been guaranteed by the Parent Guarantor pursuant
to the Guarantee in Section 24 of the Note Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 11pt; text-align: justify; text-indent: 0.5in">C.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company has advised the Noteholders that (a) the Parent Guarantor has agreed to directly or indirectly acquire all of
the issued and outstanding shares of Jayset Management CIG Inc. (&#8220;<B><I>Jayset Mgt</I></B>&#8221;) from Jayset Capital Corp
(the &#8220;<B><I>Seller</I></B>&#8221;), for the purchase price of Cdn.$601,311,951 (approximately U.S.$475,200,000) (the &#8220;<B><I>Jayset
Purchase Price</I></B>&#8221;), which will be satisfied through (i) the payment of Cdn.$120,262,390 (approximately U.S.$95,000,000)
to the Seller as cash consideration (with, in whole or in part, proceeds from the facilities under the Revolving Credit Agreement)
and (ii) the issuance of a total of 3,572,858 subordinate voting shares to the Seller, representing the value of the balance of
the purchase price (the &#8220;<B><I>Jayset Mgt Purchase</I></B>&#8221;), and (b) immediately following the completion of the Jayset
Mgt Purchase, a certain restated management services agreement dated June 1, 2015 made between the Parent Guarantor, Jayset Mgt
and Mr. Jay S. Hennick, as amended, which provides for payments to Jayset Mgt that are contingent, among other things, upon an
arm&#8217;s length sale of control of the Parent Guarantor or upon a distribution of the Parent Guarantor&#8217;s assets to its
shareholders pursuant to a long-term incentive arrangement contained within such restated management services agreement, will be
terminated (hereinafter, collectively and together with the Jayset Mgt Purchase, the &#8220;<B><I>Transactions</I></B>&#8221;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 11pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 11pt; text-align: justify; text-indent: 0.5in">D.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company has requested that, <I>inter alia</I>, the Noteholders consent to the Transactions and waive compliance with
certain provisions of the Note Agreement for the purpose of, and in order to accommodate, the Transactions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.8pt 0pt 11pt; text-align: justify; text-indent: 0.5in">E.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company has requested that Noteholders consent to the Transactions and that the Note Agreement be amended as provided
herein, and the Required Holders are willing to so agree, subject to the terms and conditions of this Consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 11pt; text-align: justify; text-indent: 0.5in">N<FONT STYLE="font-size: 10pt">OW</FONT>,
T<FONT STYLE="font-size: 10pt">HEREFORE</FONT>, upon the full and complete satisfaction of the conditions precedent to the effectiveness
of this Consent set forth in Section 3.1 hereof, and in consideration of good and valuable consideration the receipt and sufficiency
of which is hereby acknowledged, the Obligors and the Noteholders party hereto hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11pt">SECTION 1.&#9;CONSENTS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.85pt 0pt 11pt; text-align: justify; text-indent: 0.5in">The
following waivers shall become effective as of the date when all of the conditions precedent in Section 3 shall have been satisfied
(the &#8220;<B>Effective Date</B>&#8221;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 60.6pt 0pt 11pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding Sections 10.1 and 10.8 of the Note Purchase Agreement, the Noteholders hereby consent to the Transactions
and agree that the Transactions, pursuant to such consent, are otherwise deemed permitted by the terms of Sections 10.1 and 10.8
of the Note Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 11pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To the extent that the Transactions impact the calculation of Consolidated EBITDA for any period for purposes of calculation
of the financial covenants set forth in Section </FONT>10.6 of the Note Agreement and Section 10.8(A)-(E) and (G) only (and not
for purposes of Section 10.8(F) or any other purpose under the Note Agreement), the Jayset Purchase Price shall be added back (without
duplication) for purposes of such calculation for such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11pt">SECTION 2.&#9;REPRESENTATIONS AND WARRANTIES OF THE
OBLIGORS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 11pt; text-indent: 28.6pt"><I>Section 2.1.&#9;</I>To
induce the Noteholders to execute and deliver this Consent, each Obligor hereby represents and warrants to the Noteholders on the
Effective Date as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 46.95pt; text-align: justify; text-indent: 40.65pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>it is duly organized, validly existing and, where applicable, in good standing under the laws of its jurisdiction of incorporation,
and is duly qualified as a foreign corporation and, where applicable, is in good standing in each jurisdiction in which such qualification
is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 46.95pt; text-align: justify; text-indent: 40.65pt"> (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
this Consent has been duly authorized, executed and delivered by it;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 46.95pt; text-align: justify; text-indent: 40.65pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Note Agreement constitutes the legal, valid and binding obligation, contract and agreement of such Obligor enforceable
against it in accordance with its terms, except as enforcement may be limited by (i) applicable bankruptcy, insolvency,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.8pt 0pt 47pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.8pt 0pt 47pt; text-align: justify">reorganization, moratorium
or other similar laws affecting the enforcement of creditors&#8217; rights generally and (ii) general principles of equity (regardless
of whether such enforceability is considered in a proceeding in equity or at law);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.85pt 0pt 46.95pt; text-align: justify; text-indent: 40pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the execution, delivery and performance by such Obligor of this Consent will not (i) contravene, result in any breach of,
or constitute a default under, or result in the creation of any Lien in respect of any property of the Company, the Parent Guarantor
or any Significant Subsidiary under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate
charter, memorandum of association, articles of association, regulations or by-laws, shareholders agreement or any other agreement
or instrument to which the Company, the Parent Guarantor or any Significant Subsidiary is bound or by which the Company, the Parent
Guarantor or any Significant Subsidiary or any of their respective properties may be bound or affected, (ii) conflict with or result
in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or
Governmental Authority applicable to the Company, the Parent Guarantor or any Significant Subsidiary or (iii) violate any provision
of any statute or other rule or regulation of any Governmental Authority applicable to the Company, the Parent Guarantor or any
Significant Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.85pt 0pt 46.95pt; text-align: justify; text-indent: 40pt">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no consent, approval or authorization of, or registration, filing or declaration with, any Governmental Authority is required
in connection with the execution, delivery or performance by the Company or the Parent Guarantor of this Consent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.85pt 0pt 46.95pt; text-align: justify; text-indent: 42pt">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>as of the date hereof, both before and after giving effect to this Consent, no Default or Event of Default has occurred
and is continuing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.8pt 0pt 46.95pt; text-align: justify; text-indent: 40pt">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all necessary shareholder and stock exchange approval has been obtained for the Transactions; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 46.95pt; text-align: justify; text-indent: 40pt">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no lender under any agreement or other evidence of Indebtedness of the Obligors, including but not limited to any Material
Credit Facility, has received any collateral or consideration in connection with any amendments that are substantially similar
to the amendments set forth in Section 1 of this Consent in excess of the consideration paid to the Noteholders under Section 3.1(d)
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.95pt">SECTION 3.&#9;CONDITIONS PRECEDENT TO EFFECTIVENESS
OF THIS CONSENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.8pt 0pt 11pt; text-align: justify; text-indent: 28.6pt"><I>Section
3.1. </I> This Consent shall not become effective until, and shall become effective as of the first date written above when, each
and every one of the following conditions shall have been satisfied:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 46.95pt; text-align: justify; text-indent: 40pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>executed counterparts of this Consent, duly executed by the Obligors and the Required Holders, shall have been delivered
to the Noteholders;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.8pt 0pt 46.95pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 46.95pt; text-align: justify; text-indent: 40pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the representations and warranties of the Obligors set forth in Section 2.1 hereof shall be true and correct on and with
respect to the date hereof and the Effective Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 46.95pt; text-align: justify; text-indent: 40pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company shall have paid all reasonable fees and expenses of Greenberg Traurig, LLP, special counsel to the Noteholders,
in connection with the negotiation, preparation, approval, execution and delivery of this Consent to the extent reflected in a
statement of such counsel rendered to the Company at least one Business Day prior to the date hereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 46.95pt; text-align: justify; text-indent: 40pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company shall have delivered evidence of the due execution and delivery of the documents, instruments and deliveries
required to consummate the Transactions and, promptly upon receipt thereof, evidence of the requisite approvals related to the
Transactions from the Toronto Stock Exchange; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 46.95pt; text-align: justify; text-indent: 40pt">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Obligors shall have paid, or caused to be paid, to each Noteholder, an amendment fee equal to [REDACTED] of the aggregate
principal amount of Notes held by such Noteholder as of the date of this Consent and set forth in the attached Schedule 3.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 153.65pt 0pt 11pt; text-align: justify">Upon satisfaction of all
of the foregoing, this Consent shall become effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 153.65pt 0pt 11pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 153.65pt 0pt 11pt; text-align: justify">S<FONT STYLE="font-size: 10pt">ECTION</FONT> 4. M<FONT STYLE="font-size: 10pt">ISCELLANEOUS</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.7pt 0pt 11pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.7pt 0pt 11pt; text-align: justify; text-indent: 0.5in"><I>Section
4.1.</I> This Consent shall be construed in connection with and as part of the Note Agreement, and, except as modified by this
Consent, all terms, conditions and covenants contained in the Note Agreement and the Notes are hereby ratified and shall be and
remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.7pt 0pt 11pt; text-align: justify; text-indent: 28.6pt"><I>Section
4.2.</I> This Consent shall be binding on and shall inure to the benefit of the Company, the Parent Guarantor and the Noteholders
and their respective successors and assigns, except as otherwise provided herein. Neither the Company nor the Parent Guarantor
may assign, transfer, hypothecate or otherwise convey its rights, benefits, obligations or duties hereunder without the prior written
consent of the Noteholders. The terms and provisions of this Consent are for the purpose of defining the relative rights and obligations
of the Company, the Parent Guarantor and the Noteholders with respect to the transactions contemplated hereby and there shall be
no third-party beneficiaries of any of the terms and provisions of this Consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.7pt 0pt 11pt; text-align: justify; text-indent: 28.6pt"><I>Section
4.3. </I>This Consent, including all schedules and other documents attached hereto or incorporated by reference herein or delivered
in connection herewith, constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes
all other understandings, oral or written, with respect to the subject matter hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.85pt 0pt 11pt; text-align: justify; text-indent: 31.6pt"><I>Section
4.4</I> Any and all notices, requests, certificates and other instruments executed and delivered after the execution and delivery
of this Consent may refer to the Note Agreement</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.85pt 0pt 11pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 11pt">without making specific reference to this Consent
but nevertheless all such references shall include this Consent unless the context otherwise requires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.65pt 0pt 11pt; text-align: justify; text-indent: 28.6pt"><I>Section
4.5. </I>Wherever possible, each provision of this Consent shall be interpreted in such a manner as to be effective and valid under
applicable law, but if any provision of this Consent shall be prohibited by or invalid under applicable law, such provision shall
be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining
provisions of this Consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.9pt 0pt 11pt; text-align: justify; text-indent: 28.6pt"><I>Section
4.6.</I> The descriptive headings of the various Sections or parts of this Consent are for convenience only and shall not affect
the meaning or construction of any of the provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.8pt 0pt 11pt; text-align: justify; text-indent: 28.6pt"><I>Section
4.7.</I> This Consent shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the
law of the State of New York excluding choice-of-law principles of the law of such State that would require or permit the application
of the laws of a jurisdiction other than such State.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.7pt 0pt 11pt; text-align: justify; text-indent: 28.6pt"><I>Section
4.8.</I> This Consent may be executed in any number of counterparts, each of which shall be an original but all of which together
shall constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together
signed by all, of the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.65pt 0pt 11pt; text-align: justify; text-indent: 0.5in">The
parties agree to electronic contracting and signatures with respect to this Consent. Delivery of an electronic signature to, or
a signed copy of, this Consent by facsimile, email or other electronic transmission shall be fully binding on the parties to the
same extent as the delivery of the manually signed originals and shall be admissible into evidence for all purposes. Notwithstanding
the foregoing, if any Noteholder shall request (whether directly or through the Noteholders&#8217; special counsel referred to
in Section 3.1(c)) manually signed counterpart signatures to this Consent, the Obligors hereby agree to deliver such manually signed
counterpart signatures to such Noteholder (or to such special counsel on behalf of such Noteholder) within 15 Business Days of
such request or such longer period as the requesting Noteholders and the Obligors agree.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.75pt 0pt 11pt; text-align: justify; text-indent: 28.6pt"><I>Section
4.9.</I> All representations and warranties contained herein shall survive the execution and delivery of this Consent, and may
be relied upon by any subsequent holder of a Note, regardless of any investigation made at any time by or on behalf of such Noteholder
or any other holder of a Note. All statements contained in any certificate or other instrument delivered by or on behalf of the
Company or the Parent Guarantor pursuant to this Consent shall be deemed representations and warranties of the Company or the Parent
Guarantor, as applicable, under this Consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.7pt 0pt 11pt; text-align: justify; text-indent: 22.6pt"><I>Section
4.10.</I> This Consent sets forth the entire understanding of the parties relating to the subject matter hereof, and supersedes
all prior understandings and agreements, written or oral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.9pt 0pt 10.95pt; text-align: justify; text-indent: 22.6pt"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.9pt 0pt 10.95pt; text-align: justify; text-indent: 22.6pt"><I>Section
4.11.</I> THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO THIS CONSENT OR ANY OTHER DOCUMENT
EXECUTED IN CONNECTION HEREWITH OR THEREWITH.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[Signatures on Following Page]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8in 0pt 11pt; text-align: justify; text-indent: 0.5in">The execution
hereof by you shall constitute a contract between us for the uses and purposes hereinabove set forth, and this Consent may be executed
in any number of counterparts, each executed counterpart constituting an original, but all together only one agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle; text-align: left">C<FONT STYLE="font: normal 400 10pt Times New Roman, Times, Serif">OLLIERS INTERNATIONAL EMEA FINCO PLC</FONT></TD></TR>
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top; width: 10%">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; font-size: 12pt; vertical-align: middle; width: 40%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">By&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; border-bottom: Black 1pt solid; vertical-align: middle; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: 400"><I>&lt;Signed&gt;
    Davoud Amel-Azizpour</I></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">Name:</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Davoud Amel-Azizpour&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: top; text-align: left">Title:</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">EMEA CFO</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle; text-align: left">C<FONT STYLE="font: normal 400 10pt Times New Roman, Times, Serif">OLLIERS INTERNATIONAL GROUP INC.</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; font-size: 12pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; font-size: 12pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">By&nbsp;&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; border-bottom: Black 1pt solid; font-style: italic; vertical-align: middle; text-align: left">&lt;Signed&gt; Matthew Hawkins</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">Name:</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle; text-align: left">Matthew Hawkins</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: top; text-align: left">Title:</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">Vice President, Legal Counsel and Corporate Secretary</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.95pt 0pt 11pt">Accepted and agreed to as of the first date
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">A<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">MERICAN GENERAL LIFE INSURANCE COMPANY</FONT></TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">T<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">HE VARIABLE ANNUITY LIFE INSURANCE COMPANY</FONT></TD></TR>
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top; width: 10%">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle; width: 40%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">By:&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle; text-align: left">AIG Asset Management (U.S.) LLC, as Investment Adviser</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; font-size: 12pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">By:&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; border-bottom: Black 1pt solid; font-style: italic; vertical-align: middle; text-align: left">&lt;Signed&gt; Craig Moody</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">Name:&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle; text-align: left">Craig Moody</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: top; text-align: left">Title:</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">Senior Vice President</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL EMEA FINCO PLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL GROUP INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">CONSENT
TO 2018 NOTE AGREEMENT</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.5pt 0pt 11pt">Accepted and agreed to as of the first date written
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">T<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">HE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY</FONT></TD></TR>
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top; width: 10%">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle; width: 40%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">By:&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle; text-align: left">Northwestern Mutual Investment Management Company, LLC,</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle; text-align: left">Its Investment Advisor</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; font-size: 12pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">By:&nbsp;&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; border-bottom: Black 1pt solid; font-style: italic; vertical-align: middle; text-align: left">&lt;Signed&gt; Michael H. Leske</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">Name:&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle">Michael H. Leske&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: top; text-align: left">Title:</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: bottom">Managing Director</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL EMEA FINCO PLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL GROUP INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">CONSENT
TO 2018 NOTE AGREEMENT</FONT></P>
<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 324.35pt 0pt 11.05pt">Accepted and agreed to as of the first date
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle; text-align: left">M<FONT STYLE="font: normal 400 10pt Times New Roman, Times, Serif">ASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY</FONT></TD></TR>
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top; width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">By:</TD>
    <TD STYLE="text-align: left">Barings LLC, as Investment Adviser</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 12pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom"><I>&lt;Signed&gt; Patrick Manseau</I></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">Name:&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Patrick Manseau</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">Its: </TD>
    <TD STYLE="vertical-align: bottom"> Managing Director</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5in 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5in 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5in 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5in 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5in 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5in 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5in 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5in 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5in 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5in 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL EMEA FINCO PLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL GROUP INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">CONSENT
TO 2018 NOTE AGREEMENT</FONT></P>

<!-- Field: Page; Sequence: 11 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5in 0pt 11pt">Accepted and agreed to as of the first date written
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">G<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">REAT-WEST LIFE &amp; ANNUITY INSURANCE COMPANY</FONT></TD></TR>
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 12pt; vertical-align: top; width: 10%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; width: 40%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; text-align: left">By:&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; vertical-align: bottom"><I>&lt;Signed&gt; Ward Argust</I></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt; vertical-align: top">Name:&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: middle; text-align: left">Ward Argust</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt; vertical-align: top">Title:&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: middle; text-align: left">Assistant Vice President, Investments</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL EMEA FINCO PLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL GROUP INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">CONSENT
TO 2018 NOTE AGREEMENT</FONT></P>

<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">Accepted and agreed to as of the first date
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: middle; text-align: left">U<FONT STYLE="font: normal 400 10pt Times New Roman, Times, Serif">NITED OF OMAHA LIFE INSURANCE COMPANY</FONT></TD></TR>
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 12pt; vertical-align: top; width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 40%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">By:&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom"><I>&lt;Signed&gt; Justin P. Kavan</I></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">Name:&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Justin P. Kavan</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">Title:</TD>
    <TD STYLE="text-align: left">Head of Private Placements&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">MUTUAL OF OMAHA INSURANCE COMPANY</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">By:<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: 400"><I><U>&nbsp;</U></I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom"><I>&lt;Signed&gt; Justin P. Kavan</I></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">Name:</TD>
    <TD STYLE="vertical-align: middle; text-align: left">Justin P. Kavan</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">Title:</TD>
    <TD STYLE="text-align: left">Head of Private Placements</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL EMEA FINCO PLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL GROUP INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">CONSENT
TO 2018 NOTE AGREEMENT</FONT></P>

<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 323.05pt 0pt 11pt">Accepted and agreed to as of the first date
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">C<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">ONNECTICUT GENERAL LIFE INSURANCE COMPANY</FONT></TD></TR>
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top; width: 10%">&nbsp;</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt; vertical-align: middle; width: 40%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">By:&nbsp;</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt; vertical-align: middle; text-align: left">Cigna Investments, Inc. (authorized agent)</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt; font-size: 12pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">By:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -20pt; padding-left: 20pt; font-style: italic; vertical-align: middle; text-align: left">&lt;Signed&gt; Leonard Mazlish</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">Name:</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt">Leonard Mazlish&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: top; text-align: left">Title:</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt; text-align: left">Managing Director</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt; font-size: 12pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt; vertical-align: middle">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">C<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">IGNA HEALTH AND LIFE INSURANCE COMPANY</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">By:&nbsp;</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt; vertical-align: middle; text-align: left">Cigna Investments, Inc. (authorized agent)</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt; font-size: 12pt; vertical-align: middle">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">By:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -20pt; padding-left: 20pt; font-style: italic; vertical-align: middle; text-align: left">&lt;Signed&gt; Leonard Mazlish</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; vertical-align: top">Name:&nbsp;</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt">Leonard Mazlish&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; vertical-align: top; text-align: left">Title:</TD>
    <TD STYLE="text-indent: -20pt; padding-left: 20pt; text-align: left">Managing Director</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL EMEA FINCO PLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">COLLIERS
INTERNATIONAL GROUP INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">CONSENT
TO 2018 NOTE AGREEMENT</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SCHEDULE
3.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>AMENDMENT FEES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2C2C2C">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2C2C2C"><B>[REDACTED]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<DOCUMENT>
<TYPE>EX-99.6
<SEQUENCE>7
<FILENAME>exh_996.htm
<DESCRIPTION>EXHIBIT 99.6
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;Exhibit 99.6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COLLIERS INTERNATIONAL GROUP INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MATERIAL CHANGE REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Form 51-102F3)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><B>Name and Address of Company</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Colliers International
Group Inc. (&#8220;<B>Colliers</B>&#8221; or the &#8220;<B>Company</B>&#8221;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1140 Bay Street, Suite
4000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Toronto, Ontario M5S
2B4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify"><B>Date of Material Change</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">April 16, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify"><B>News Release</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The news release was disseminated
on April 16, 2021 through Globe Newswire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify"><B>Summary of Material Change</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On April 16, 2021, Colliers announced
that it had completed the previously announced transaction (the &#8220;<B>Transaction</B>&#8221;) to settle the Management Services
Agreement, including the long-term incentive agreement, between Colliers, Jay S. Hennick and Jayset Management CIG Inc., a corporation
controlled by Mr. Hennick. The Transaction has also established a timeline for the orderly elimination of Colliers&#8217; dual
class voting structure by not later than September 1, 2028.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify"><B>Full Description of Material Change</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The news release annexed hereto
as Schedule &#8220;A&#8221; provides a full description of the material change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify"><B>Reliance on Subsection 7.1(2) of National Instrument 51-102</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This report is not
being filed on a confidential basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify"><B>Omitted Information</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">No significant
facts remain confidential in, and no information has been omitted from, this report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify"><B>Executive Officer</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">If further information is required,
please contact Christian Mayer, Chief Financial Officer, at (416) 960-9500.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify"><B>Date of Report</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">DATED at Toronto, Ontario this 21st day
of April, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule &#8220;A&#8221;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 318.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 318.95pt; text-align: right; color: Red"><IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 318.95pt; text-align: right; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.5pt; text-align: right; color: #4A4A4D"><U>COMPANY CONTACTS:</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.5pt; text-align: right; color: #4A4A4D">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.5pt; text-align: right; color: #4A4A4D"><U>Peter F. Cohen<BR>
Lead Director</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.5pt; text-align: right; color: #4A4A4D">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.5pt; text-align: right; color: #4A4A4D"><U>Christian Mayer<BR>
Chief Financial Officer</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.5pt; text-align: right; color: #4A4A4D">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.5pt; text-align: right; color: #4A4A4D"><U>(416) 960-9500</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.5pt; text-align: right; color: #4A4A4D">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 8.5pt 0pt 0; text-align: justify; color: #25408F">Colliers Completes
Transaction to Settle Long-Term Incentive Arrangement and Establish Timeline for Orderly Elimination of Dual Class Voting Structure</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #4A4A4D">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Toronto, April 16, 2021
&#8211; (GLOBE NEWSWIRE) &#8211; Colliers International Group Inc. (TSX: CIGI; NASDAQ: CIGI) (&#8220;Colliers&#8221; or the &#8220;Company&#8221;)
today announced that it has completed the previously announced transaction (the &#8220;<B>Transaction</B>&#8221;) to settle the
Management Services Agreement (the &#8220;<B>MSA</B>&#8221;), including the long-term incentive arrangement, between Colliers,
Jay S. Hennick and Jayset Management CIG Inc., a corporation controlled by Mr. Hennick. The Transaction has also established a
timeline for the orderly elimination of Colliers&#8217; dual class voting structure by no later than September 1, 2028.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #49494D">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Colliers and Mr. Hennick
have entered into a new five-year management services agreement, with mutual one-year renewal options thereafter (the &quot;<B>New
MSA</B>&quot;) pursuant to which Mr. Hennick will continue to provide services to Colliers as, at his option, the Chief Executive
Officer and/or Executive Chairman. The New MSA is substantially similar to the current MSA, except that there is no entitlement
to a long-term incentive arrangement, stock options or other equity-linked compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #4A4A4D">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Hennick continues as
the Chairman and Chief Executive Officer of the Company and has control and direction over a total of 5,005,369 Subordinate Voting
Shares and 1,325,694 Multiple Voting Shares, which in the aggregate represent 14.4% of Colliers&#8217; total outstanding shares
and which carry 45.6% of the total votes associated with Colliers shares.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #4A4A4D"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">About Colliers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Colliers (NASDAQ, TSX: CIGI) is a leading
diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising
professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years,
our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for
shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management,
we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com,
Twitter @Colliers or LinkedIn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>



<P STYLE="margin: 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
