1 1 9 (7) Mr. Peterson did not stand for re-election at the 2021 annual meeting of the Corporation. The figures reported in the table reflect amounts received by Mr. Peterson up to his last day of service including as Chair of the CESGC. Discussion of Director Compensation Table Significant factors necessary to understand the information disclosed in the Director Compensation Table above incl ude the Board’s fee structure, the Corporation’s deferred share unit plan, and directors’ equity investment requirements. Board Fees The components of director co mpensation are as follows: an annual retainer (the “A A n n u a l R e t a i n e r ”) of C$45,000; an additional retainer to the Chair of the Board of C$90,000, the Lead Independent Director of C$30,000, the Chair of the ARC of C$25,000, and the Chair of the CESGC of C$15,000; t he grant of DSUs equal to the lesser of (i) that number of DSUs having a gran t date fair value of C$250,000 and (ii) 2,000 DSUs. This grant formula is intended to align director compensation with shareholder interests by no t providing for guaranteed compensation while also ensuring the grant date value is not excessive (the “A A n n u a l D S U G r a n t ”); and t he payment of travel fees (for out-of-t own directors) of C$1,500 per day to a maximum of two days per meeting. Directors are also reimbursed for out-of -pocket expenses for attending Board and committee meetings and in respect of other ac tivities relating to Board service, which include contributing significant additional time and expertise to management for which directors receive no additio nal compensation. No director compensation is paid to directors who are members of management of the Corporation. Deferred Share Unit Plan Effective March 26, 2008, the Board adopted a deferred share unit plan (the “D D S U P l a n ”), which permits directors who are not salaried officers or employees of the Corporation or a related corp oration (referred to as “ E l i g i b l e D i r e c t o r s ”) to defer receipt of all or a portion of their Board fees until termination of Board service. The DSU Plan also provides the Board with the flexibility to award deferred share units (“ D S U s ”) to Eligible Directors as another form of compensation. Only Eligible Directors are permitted to participate in the DSU Plan which is administered by the CESGC. With respect to conversion of Board fees into DSUs (“ C o n v e r s i o n D S U s ”), each Eligible Director may elect to be paid a minimum of 20% up to a maximum of 100% (in 10% increments) of Board fees in the form of Conversion DSUs in lieu of being paid such fees in cash. On the date on which Board fees ar e payable (on a quarterly basis), the number of Conversion DSUs to be credited to a participating Eligible Director (a “ P a r t i c i p a n t ”) is determined by dividing an amount equal to the designated percentage of the Board fees that the Participant has elected to have credited in Conversion DSUs on that fee payment