Mr. Dan Daviau reports

CANACCORD GENUITY ANNOUNCES STRONGER THAN EXPECTED OUTLOOK FOR FOURTH QUARTER FISCAL 2017 EARNINGS

Canaccord Genuity Group Inc. expects earnings for the quarter ended March 31, 2017, to be significantly higher than previous quarters in its most recent fiscal years. Excluding significant items (1), the company expects to record net income attributable to common shareholders that will exceed $23-million, or earnings per common share that will exceed 23 cents. Including all expense items, on an international financial reporting standard basis, the company expects to record net income attributable to common shareholders that will exceed $21-million, or earnings per common share of at least 21 cents per share. These preliminary financial results are subject to revision and may change when the company reports its full fourth quarter results on June 1, 2017.

Revenue is expected to exceed $260-million for the fiscal quarter. This amount represents an increase of 30 per cent over the average for the first three quarters of fiscal 2017.

Increased new issue activity in all regions in the company's focus sectors during the quarter led to a significant increase in investment banking revenue. Two significant advisory transactions outside of Canada during the quarter contributed to an increase in advisory fee revenue.

Investors are reminded that the financial performance of Canaccord Genuity Group is impacted by broad market and general economic conditions, the nature of the financial services industry both globally and in its local markets, activity in specific focus sectors, and other risks and uncertainties as more fully described in the company's annual information form dated June 24, 2016, and the 2016 annual management's discussion and analysis in the annual report dated June 1, 2016.

"We are very pleased with these improved expectations, but we continue to anticipate certain levels of volatility as the markets reacts to the specifics of regulatory and policy changes in the U.K. and the U.S., and we note that activity in our capital markets business is directly correlated with activity in our core focus sectors," said Dan Daviau, president and chief executive officer of Canaccord Genuity Group.

The company will provide additional details of its performance with the release of its fourth quarter and year-end fiscal 2017 results on June 1, 2017, and management will discuss these results on a conference call on June 2. Dial-in and webcast details will be circulated two weeks prior to the event and will also be made available on the company's website.

(1) Figures excluding significant items are non-IFRS measures. Significant items include restructuring costs, amortization of intangible assets acquired in connection with business combinations, impairment of goodwill and other assets, and acquisition-related expense items, which include costs recognized in relation to both prospective and completed acquisitions, as well as gains or losses related to business disposals, including recognition of translation gains on the disposal of foreign operations. In fourth quarter fiscal 2017, the company expects that the only significant items to be recorded will be related to the amortization of intangible assets acquired in connection with business combinations.

About Canaccord Genuity Group Inc.

Through its principal subsidiaries, Canaccord Genuity Group is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the company has been driven by an unwavering commitment to building lasting client relationships. The company has offices in 10 countries worldwide, including wealth management offices located in Canada, the United Kingdom, Guernsey, Jersey, the Isle of Man and Australia. Canaccord Genuity, the international capital markets division, operates in Canada, the United States, the U.K., France, Ireland, Hong Kong, China, Australia and Dubai.

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