1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached: ⁱⁱ

Project Finance Investments Ltd

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Admission of new shares to the market

X

3. Full name of person(s) subject to the
notification obligation: ⁱⁱⁱ

Bank of Montreal

4. Full name of shareholder(s)
 (if different from 3.):^iv

See box 9 below

5. Date of the transaction and date on
which the threshold is crossed or
reached: ^v

Date of Transaction 21^st October 2015

Date of Admission 23^rd October 2015

6. Date on which issuer notified:

7^th December 2015

7. Threshold(s) that is/are crossed or
reached: ^{vi, vii}

5%, 10%

8. Notified details:

A: Voting rights attached to shares ^{viii, ix}

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of  voting rights ^x

Direct

Direct ^xi

Indirect ^xii

Direct

Indirect

JE00BYXX8B08

0

0

11,000,000

11,000,000

10.38%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date ^xiii

Exercise/
Conversion Period ^xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date ^xvii

Exercise/
Conversion period ^xviii

Number of voting rights instrument refers to

% of voting rights ^{xix, xx}

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

11,000,000

10.38%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: ^xxi

Bank of Montreal is the parent company of the BMO Financial Group. The following controlled undertakings each hold voting rights of 3% or more of the issuer. All controlled undertaking(s) as detailed are wholly owned subsidiaries of the Bank of Montreal. Controlled undertakings can exercise voting rights independently.

Proxy Voting:

10. Name of the proxy holder:

Bank of Montreal

11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:

13. Additional information:

Calculation based on Total Voting Rights of 106,000,000 as at 30^th October 2015

14. Contact name:

Vik Sharma, BMO Global Asset Management (EMEA),

Part of BMO Financial Group

15. Contact telephone number:

0131 718 1094