Caisse de dépôt et placement du Québec acquires common shares of Canadian Royalties Inc.

Caisse de dépôt et placement du Québec (“ Caisse “) announces that it has acquired, on the Toronto Stock Exchange, 2,100,000 common shares of Canadian Royalties (“Canadian Royalties”), or, 2.06% of such shares outstanding at a price of CA$1.20 per share.

Before this transaction, Caisse held 1,447,500 common shares of Canadian Royalties as well as CA$40,000,000 aggregate principal amount of convertile debentures.

Through this transaction, and if Caisse were to exercise its conversion privilege with respect to the convertible debentures that it holds, the total number of Canadian Royalties common shares that it would own would be 18,092,700, or 15.52% of such shares outstanding on a partially diluted basis.

This transaction was made for investment purposes and Caisse could increase or decrease its investments in Canadian Royalties depending on market conditions or any other relevant factor.