FENGATE PCL PROGRESS PARTNERS MBR GP INC.

Fengate PCL Progress Partners MBR LP was selected by the Province of Ontario to design, build, finance and maintain the Macdonald Block Reconstruction PPP Project in Toronto which will house the Government of Ontario. The consortium is preparing to offer CAD 144.5 million (USD 111 million) in two amortizing senior secured bonds to finance the project. The Macdonald Block is the administrative centre of the Ontario Government, currently housing approximately 3600 staff. Infrastructure Ontario has identified Fengate PCL Progress Partners, a consortium comprising Fengate Real Asset Investments, PCL Construction and Johnson Controls, as one of three shortlisted consortiums to design, build, finance and maintain the Macdonald Block Reconstruction Project.