Mr. Loui Anastasopoulos reports

ANNOUNCING VENTURE FORWARD, A TSX VENTURE EXCHANGE PLAN TO ACCELERATE THE EVOLUTION OF CANADA'S WORLD-LEADING PUBLIC VENTURE MARKET

TMX Group Ltd.'s TSX Venture Exchange has entered the next phase of its Venture Forward initiative designed to strengthen Canada's public venture market, the foundation of the country's capital formation ecosystem. In a new report published today, the TSX-V outlines several important commitments to innovation and growth, in an effort to enhance the overall stakeholder experience and clear a path for new companies and investors to enter its ecosystem. The report incorporates valuable feedback from stakeholders across the venture community following a collaborative, in-depth consultation process.

"This is an exciting day for TSX-V, as we share our commitments and plans to address near-term stakeholder challenges and build Canada's vibrant and vital public venture market stronger for the future," said Loui Anastasopoulos, chief executive officer, Toronto Stock Exchange, and global head, capital formation, TMX Group. "Venture Forward is a key component of our ongoing strategy to push the evolution of our unique and powerful capital formation ecosystem, serve the needs of modern stakeholders, and sharpen our competitive edge in an increasingly borderless capital market landscape."

Background on Venture Forward

While Canada's public venture market has a proven record of generating growth for issuers and investors, and driving economic prosperity, modern markets continue to rapidly evolve. In keeping with its corporate purpose to make markets better and empower bold ideas, the TSX-V is firmly committed to ensuring that Canada's public venture market adapts to keep pace with the needs of its stakeholders. In 2022, the TSX-V set out to advance the evolution of its market by seeking out ways to reduce the barriers and burdens to access public venture capital, expand the global issuer and investor base, and grow the overall ecosystem. The TSX-V undertook a thorough consultation process, working closely with entrepreneurs, investors, financiers, lawyers and advisers, to identify priority challenges and opportunities.

Tim Babcock, vice-president and head of the TSX-V, added: "I want to thank the hundreds of respondents from across the community for their candid input and invaluable support throughout the Venture Forward consultation process, and for their immense contribution to shaping this report. We are encouraged by the progress we have made to date in some of the key areas of focus and look forward to the collaborative work ahead in pursuit of positive change, and enduring success."

The report highlights four key TSX-V commitments:

• Introducing an innovative TSX-V passport listing process to significantly accelerate the listing and capital-raising timeline for qualified TSX-V new-listing applicants;
• Accelerating the exchange's continuing digital transformation by providing issuers with increased access to digital products, services and resources;
• Launching TSX-V Sandbox, an initiative to encourage innovation and provide support for listing unique businesses or transaction structures;
• Evaluating the need and appetite for a new, highly differentiated exchange to complement the TSX-V, with the goal of providing new categories of early-stage companies, alternative asset classes, and investors with access to public markets.

The report contains six additional commitments designed to enhance the TSX-V's position as the global leader in supporting the success of small- and medium-sized public companies.

About TMX Group Ltd.

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the financing, growth, and success of businesses, traders and investors. TMX Group's key operations include the TSX, the TSX-V, the TSX Alpha Exchange, the Canadian Depository for Securities, the Montreal Exchange, Canadian Derivatives Clearing Corp. and Trayport, which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montreal, Calgary, Vancouver and New York), as well as in key international markets, including London, Singapore and Vienna.