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In the long run, we expect AI technologies to become very broadly embedded into enterprise software applications and software, much as business intelligence ("BI"), reporting and analytics features have increasingly been directly incorporated into enterprise applications in the last decade. Company related disclosures: Issuer Company Ticker Applicable Disclosures Constellation Software Inc. CSU-T 7, 9 Shopify Inc. SHOP-N 7, 9 OpenText Inc. OTEX-Q 7, 9 Kinaxis Inc. KXS-T 7, 9 Descartes Systems Group Inc. DSGX-Q 7, 9 Absolute Software Inc. ABT-T 7, 9 BSM Technologies Inc. GPS-T 7, 9 Symbility Solutions Inc. SY-V 7, 9 ProntoForms Corp. PFM-V 1, 3, 7, 9 Redline Communications Inc. RDL-T 7, 9 See legend of Disclosures on next page. Definitions "Research Analyst" means any partner, director, officer, employee or agent of iA Securities who is held out to the public as a research analyst or whose responsibilities to iA Securities include the preparation of any written report for distribution to clients or prospective clients of iA Securities which includes a recommendation with respect to a security. Technology Sector Blair Abernethy, CFA August 17, 2017 Page 27 Analyst's Certification Each iA Securities research analyst whose name appears on the front page of this research report hereby certifies that (i) the recommendations and opinions expressed in the research report accurately reflect the research analyst's personal views about the issuer and securities that are the subject of this report and all other companies and securities mentioned in this report that are covered by such research analyst and (ii) no part of the research analyst's compensation was, is, or will be directly or indirectly, related to the specific recommendations or views expressed by such research analyst in this report.