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January 21, 2026

	The Canadian Securities Exchange (CSE) has received regulatory approval to introduce changes to the CSE2 trading fees and CSE monthly dealer fee that will take effect on February 1, 2026.

	Summary of the Changes:

	1. CSE2 Trading Fees

	The CSE is introducing a flat fee of $2 on CSE2 that will apply to both the active and passive side of trades with volume greater than or equal to 200,000 shares for securities priced at or above $1 and less than $1. The introduction of a flat fee ensures that clients are charged a reasonable rate for large trades, reducing costs and providing fee transparency.

	Note: flat fee trades will count towards the Total Canadian Continuous Volume (TCCV) qualification but will not receive the CSE2 Volume Incentive Program rebates.
<lii>&nbsp;2. CSE Monthly Dealer Fee&nbsp; </lii>

	The CSE monthly Dealer participation fee will be updated to $1,000 to better align our fee structure with the industry standard.

	Current Fee Schedule

	CSE2 - CSE Listed and Other Listed Securities (Including Warrants and Rights)
<table border="1" cellpadding="1" cellspacing="1" >
<tbody>
<tr>
<td>
				&nbsp;</td>
<td>
				Active</td>
<td>
				Passive</td>
</tr>
<tr>
<td>
				Less than $1.00 (Retail)</td>
<td>
				-$0.0008</td>
<td>
				$0.0009</td>
</tr>
<tr>
<td>
				Less than $1.00</td>
<td>
				-$0.0004</td>
<td>
				$0.0009</td>
</tr>
<tr>
<td>
				Volume Incentive Program Tier 1 (0.20% of TCCV)</td>
<td>
				N/A</td>
<td>
				$0.00085</td>
</tr>
<tr>
<td>
				Volume Incentive Program Tier 2 (0.40% of TCCV)</td>
<td>
				N/A</td>
<td>
				$0.0008</td>
</tr>
</tbody>
</table>

	&nbsp;
<table border="1" cellpadding="1" cellspacing="1" >
<tbody>
<tr>
<td>
				Equal to or greater than $1.00 (Retail)</td>
<td>
				-$0.0029</td>
<td>
				$0.0030</td>
</tr>
<tr>
<td>
				Equal to or greater than $1.00</td>
<td>
				-$0.0022</td>
<td>
				$0.0030</td>
</tr>
<tr>
<td>
				Volume Incentive Program Tier 1 (0.20% of TCCV)</td>
<td>
				N/A</td>
<td>
				$0.00295</td>
</tr>
<tr>
<td>
				Volume Incentive Program Tier 2 (0.40% of TCCV)</td>
<td>
				N/A</td>
<td>
				$0.0029</td>
</tr>
</tbody>
</table>

	&nbsp;

	New Fee Schedule - Effective February 1, 2026

	CSE2 - CSE Listed and Other Listed Securities (Including Warrants and Rights)
<table border="1" cellpadding="1" cellspacing="1" >
<tbody>
<tr>
<td>
				&nbsp;</td>
<td>
				Active</td>
<td>
				Passive</td>
</tr>
<tr>
<td>
				Less than $1.00 (Retail)</td>
<td>

					-$0.0008

					A flat fee of $2 for volume &gt;=200,000 shares
</td>
<td>

					$0.0009

					A flat fee of $2 for volume &gt;=200,000 shares
</td>
</tr>
<tr>
<td>
				Less than $1.00</td>
<td>

					-$0.0004

					A flat fee of $2 for volume &gt;=200,000 shares
</td>
<td>

					$0.0009

					A flat fee of $2 for volume &gt;=200,000 shares
</td>
</tr>
<tr>
<td>
				Volume Incentive Program Tier 1 (0.20% of TCCV)</td>
<td>
				N/A</td>
<td>
				$0.00085</td>
</tr>
<tr>
<td>
				Volume Incentive Program Tier 2 (0.40% of TCCV)</td>
<td>
				N/A</td>
<td>
				$0.0008</td>
</tr>
</tbody>
</table>

	&nbsp;
<table border="1" cellpadding="1" cellspacing="1" >
<tbody>
<tr>
<td>
				Equal to or greater than $1.00 (Retail)</td>
<td>

					-$0.0029

					A flat fee of $2 for volume &gt;=200,000 shares
</td>
<td>

					$0.0030

					A flat fee of $2 for volume &gt;=200,000 shares
</td>
</tr>
<tr>
<td>
				Equal to or greater than $1.00</td>
<td>

					-$0.0022

					A flat fee of $2 for volume &gt;=200,000 shares
</td>
<td>

					$0.0030

					A flat fee of $2 for volume &gt;=200,000 shares
</td>
</tr>
<tr>
<td>
				Volume Incentive Program Tier 1 (0.20% of TCCV)</td>
<td>
				N/A</td>
<td>
				$0.00295</td>
</tr>
<tr>
<td>
				Volume Incentive Program Tier 2 (0.40% of TCCV)</td>
<td>
				N/A</td>
<td>
				$0.0029</td>
</tr>
</tbody>
</table>

	&nbsp;

	Quick Link:
<ul>
<li>
		<a href="https://cms.thecse.com/wp-content/uploads/2026/01/CSE2-Trading-Fee-Schedule_February-1-2026.pdf" target="_blank">New&nbsp;CSE2 Trading Fee Schedule</a>&nbsp;</li>
</ul>

	If you have any questions or require further information, please contact:

	Matthew Lee – <a href="mailto:matthew.lee@thecse.com">matthew.lee@thecse.com</a> 
	Philip Cox –&nbsp; <a href="mailto:philip.cox@thecse.com">philip.cox@thecse.com</a> 
	Mackenzie Silliker – <a href="mailto:mackenzie.silliker@thecse.com">mackenzie.silliker@thecse.com</a> 
	Liam Rodenburg – <a href="mailto:liam.rodenburg@thecse.com">liam.rodenburg@thecse.com</a>

	Or, for general enquiries on fees, please contact <a href="mailto:trading@thecse.com">trading@thecse.com</a>.

Notice 2026-001 – Upcoming Changes to CSE Trading Fees