WHY EDMONTON? DISCOVER THE GATEWAY TO THE NORTH

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1 WHY EDMONTON? DISCOVER THE GATEWAY TO THE NORTH Image courtesy of Jeff Wallace Photography CBRE RESEARCH 2018 CBRE, LTD. 1

2 ECONOMIC STRENGTH LEADER IN ECONOMIC GROWTH 5.2% GDP GROWTH 2017 SECOND FASTEST GROWING AMONG MAJOR METROS (VS. 3.5% CANADA) $62,437 GDP PER CAPITA 2017 SECOND MOST PRODUCTIVE CITY IN CANADA 30% HIGHER THAN NATIONAL AVERAGE $19,739 RETAIL SALES PER CAPITA 2017 SECOND LARGEST AMONG MAJOR METROS $59,118 PERSONAL INCOME PER CAPITA 2017 SECOND HIGHEST IN CANADA 12% HIGHER THAN NATIONAL AVERAGE $1, AVG. WEEKLY EARNINGS 2017 SECOND HIGHEST IN CANADA 15.7% HIGHER THAN CANADIAN AVERAGE 18.7% EMPLOYMENT GROWTH LARGEST EMPLOYMENT EXPANSION OVER THE PAST 10 YEARS 10% HIGHER THAN NATIONAL AVERAGE 7.6% PROJECTED JOB GROWTH (4.9% CANADIAN AVERAGE) Source: Statistics Canada, Conference Board of Canada, CBRE Research WHY EDMONTON? DISCOVER CANADA S GATEWAY TO THE NORTH 2018 CBRE, LTD. 2

3 TOP COMPANIES IN EDMONTON CBRE RESEARCH 2018 CBRE, LTD. 3

ALBERTA ENERGY ALBERTA OIL NISKU ENERGY PARK LARGEST INDUSTRIAL ENERGY SERVICES PARK IN CANADA OVER 500 BUSINESSES WITH EXPERTISE IN ENERGY, ADVANCED MANUFACTURING AND DISTRIBUTION & LOGISTICS

4 ALBERTA ENERGY ALBERTA OIL NISKU ENERGY PARK LARGEST INDUSTRIAL ENERGY SERVICES PARK IN CANADA OVER 500 BUSINESSES WITH EXPERTISE IN ENERGY, ADVANCED MANUFACTURING AND DISTRIBUTION & LOGISTICS EMPLOYS NEARLY 25,000 HIGHLY SKILLED TRADES AND PROFESSIONAL WORKERS DEVON RESEARCH CENTRE CANMET ENERGY, CANADA S LEADING ORGANIZATION FOR SCIENTIFIC EXPERTISE ON CLEAN ENERGY TECHNOLOGIES INNOTECH ALBERTA TEAMS COMPLETE APPLIED RESEARCH PROJECTS IN THE OIL & GAS SECTOR ENERGY INDUSTRY REVENUE (MILLIONS) $160,000 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 3RD LARGEST CRUDE OIL RESERVES IN THE WORLD ALBERTA REPRESENTS 98% OF CANADA S TOTAL OIL RESERVES EDMONTON IS THE CLOSEST MAJOR CENTRE TO ALBERTA S OIL SANDS, MAKING IT A STRATEGIC BASE FOR MANY INDUSTRIES THAT SUPPORT THE OIL AND GAS SECTOR LARGEST UNCONVENTIONAL LIGHT SHALE OIL POOL IN CANADA DUVERNAY FIELD IN WESTERN ALBERTA (3.4 BILLION BARRELS OF MARKETABLE LIGHT OIL AND 6.3 BILLION BARRELS OF NATURAL GAS LIQUIDS) 150 DRIVERLESS TRUCKS TO BE ADDED TO SUNCOR S FLEET, LOWERING OPERATING EXPENSES AND INCREASING PRODUCTIVITY OVERALL CANADIAN OIL PRODUCTION TO GROW TO 5.1 MILLION BARRELS/DAY IN 2030 (UP FROM 3.85 MILLION BARRELS/DAY IN 2016) $20,000 $ e Source: ARC Energy Institute, Leduc County, PETRO LMI, CBRE Research WHY EDMONTON? DISCOVER CANADA S GATEWAY TO THE NORTH 2018 CBRE, LTD. 4

5 ALBERTA EXPORTS $100.7 BILLION ALBERTA EXPORTS IN 2017 [ ALBERTA REPRESENTS 20% OF CANADA S EXPORTS IN THE LAST 10 YEARS [ TOP NON-ENERGY EXPORTS IN 2017 ALBERTA S TOP EXPORT MARKETS CROP PRODUCTION USA CHINA JAPAN FOOD MANUFACTURING CHEMICAL MANUFACTURING PRIMARY METAL MANUFACTURING MACHINERY MANUFACTURING MEXICO SOUTH KOREA Source: Government of Canada CBRE RESEARCH 2018 CBRE, LTD. 5

DEEP TALENT POOL COMMITMENT TO EDUCATION ALBERTA S WORKFORCE IS HIGHLY EDUCATED, WITH THE HIGHEST RATE OF POST-SECONDARY ATTAINMENT (INCLUDING DIPLOMAS, DEGREES, AND CERTIFICATES) IN CANADA.

TOP UNIVERSITIES MACEWAN UNIVERSITY 19,000 STUDENTS UNIVERSITY OF ALBERTA 37,830 STUDENTS NORTHERN ALBERTA INSTITUTE OF TECHNOLOGY 48,500 STUDENTS EDMONTON LEADS THE WAY WORLD S TOP 100 RANKED

6 DEEP TALENT POOL COMMITMENT TO EDUCATION ALBERTA S WORKFORCE IS HIGHLY EDUCATED, WITH THE HIGHEST RATE OF POST-SECONDARY ATTAINMENT (INCLUDING DIPLOMAS, DEGREES, AND CERTIFICATES) IN CANADA. IN TOTAL, THE SIX POST-SECONDARY INSTITUTIONS PROVIDE TRAINING AND EDUCATION TO 117,000 STUDENTS IN EDMONTON. TOP UNIVERSITIES MACEWAN UNIVERSITY 19,000 STUDENTS UNIVERSITY OF ALBERTA 37,830 STUDENTS NORTHERN ALBERTA INSTITUTE OF TECHNOLOGY 48,500 STUDENTS EDMONTON LEADS THE WAY WORLD S TOP 100 RANKED UNIVERSITIES UNIVERSITY OF ALBERTA (2017 QS WORLD UNIVERSITY RATING) LARGEST APPRENTICESHIP TRAINER IN CANADA NORTHERN ALBERTA INSTITUTE OF TECHNOLOGY 117,000 TOTAL COLLEGE STUDENTS OVER THE PAST FIVE YEARS, THE NUMBER OF APPLICANTS TO ALBERTA S POST-SECONDARY SYSTEM INCREASED EVERY YEAR. THIS GROWTH WAS DRIVEN PRIMARILY BY INCREASES IN APPLICANTS FROM OUTSIDE CANADA. VISA POST-SECONDARY STUDENT ENROLLMENT HAS MORE THAN DOUBLED OVER THE PAST 10 YEARS. IN THE ACADEMIC YEAR, VISA STUDENTS ACCOUNTED FOR 8.3% OF ALL STUDENTS AT POST- SECONDARY INSTITUTIONS IN ALBERTA EDMONTON TOP COLLEGES & UNIVERSITIES Source: Government of Canada 2017 WHY EDMONTON? DISCOVER CANADA S GATEWAY TO THE NORTH 2018 CBRE, LTD. 6

CONNECTED VEHICLE TEST-BED NETWORK TO EXCHANGE INFORMATION IN REAL-TIME WITH ROADSIDE EQUIPMENT EDMONTON WASTE MANAGEMENT CENTRE 233 HECTARES CENTRE FOR ADVANCED WASTE PROCESSING AND RESEARCH

7 HEALTH & TECHNOLOGY INNOVATION STARTS HERE NATIONAL INSTITUTE FOR NANOTECHNOLOGY UNIQUE NANOTECHNOLOGY COLLABORATION HUB IN A $52.2 MILLION, 215,000 SF FACILITY ARTIFICIAL INTELLIGENCE HUB DEEPMIND S FIRST EVER INTERNATIONAL ARTIFICIAL INTELLIGENCE RESEARCH OFFICE IN EDMONTON THE ACTIVE-AURORA PROJECT: CANADA S FIRST WIRELESS CONNECTED VEHICLE TEST-BED NETWORK TO EXCHANGE INFORMATION IN REAL-TIME WITH ROADSIDE EQUIPMENT EDMONTON WASTE MANAGEMENT CENTRE 233 HECTARES CENTRE FOR ADVANCED WASTE PROCESSING AND RESEARCH FACILITIES WHERE WASTE IS TRANSFORMED INTO USEFUL RESOURCES HEALTH CITY INITIATIVE FROM MEDICAL DEVICES, PHARMACEUTICALS TO AGRICULTURAL BIOTECHNOLOGY, EDMONTON IS HOME TO OVER 265 ESTABLISHED MULTINATIONALS AND LOCAL START-UPS ALBERTA HEALTH SERVICES (AHS) IS THE LARGEST PROVINCE-WIDE FULLY INTEGRATED HEALTH SYSTEM PROVIDING SERVICES TO OVER FOUR MILLION ALBERTANS. THE HEALTH AUTHORITY COLLECTS A LARGE AMOUNT OF CLINICAL AND CORPORATE DATA, WHICH PROVIDES A UNIQUE OPPORTUNITY TO EXAMINE DISEASE CLUSTERS, PRACTICE VARIATION AND HEALTH OUTCOMES $4.5 BILLION PROVINCE WIDE FUNDING TO RENOVATE HEALTH INFRASTRUCTURE $400 MILLION FOR A NEW HOSPITAL IN SOUTH EDMONTON (COST ESTIMATE $2 BILLION) ALBERTA HEALTH SUPER LAB (ESTIMATE $325 MILLION ) CBRE RESEARCH 2018 CBRE, LTD. 7

8% YOUNGER THAN AVERAGE 37.8 AVERAGE AGE (CANADIAN AVERAGE 41 IN 2016) 30.

8 DEMOGRAPHIC PROFILE EDMONTON BY THE NUMBERS 67.1% EMPLOYMENT RATE SECOND AMONG MAJOR CMAS 73% LABOUR FORCE PARTICIPATION RATE (2017) SECOND LARGEST OF ALL CMAS CANADA: 65.8% YOUNGER THAN AVERAGE 37.8 AVERAGE AGE (CANADIAN AVERAGE 41 IN 2016) 30.1% EDMONTON S SHARE OF MILLENNIALS IN ND LARGEST OF ALL CMAS WHY EDMONTON? DISCOVER CANADA S GATEWAY TO THE NORTH STRONG POPULATION GROWTH GROWTH FORECAST 8.5% 218,188 MIGRATION FORECASTED MIGRATION 79,786 SECOND FASTEST ( ) ( ) Source: Canada 2016 Census 2018 CBRE, LTD. 8

QUALITY OF LIFE AFFORDABLE LIVING 2-BEDROOM RENTAL: $1,216 22% CHEAPER THAN VANCOUVER 13% CHEAPER THAN TORONTO NEW HOUSING CONSTRUCTION PRICE: $526,693 50% CHEAPER THAN TORONTO 65% CHEAPER THAN

9 QUALITY OF LIFE AFFORDABLE LIVING 2-BEDROOM RENTAL: $1,216 22% CHEAPER THAN VANCOUVER 13% CHEAPER THAN TORONTO NEW HOUSING CONSTRUCTION PRICE: $526,693 50% CHEAPER THAN TORONTO 65% CHEAPER THAN VANCOUVER Source: CMHC 6 PROJECTS THAT ARE RESHAPING EDMONTON S DOWNTOWN 88KM OF RIVER VALLEY PARK THE LARGEST URBAN PARK IN NORTH AMERICA [22 TIMES LARGER THAN CENTRAL PARK [ ROYAL ALBERTA MUSEUM STANLEY A. MILNER LIBRARY ALLARD HALL, MACEWAN UNIVERSITY Source: The Globe & Mail ARTS HABITAT EDMONTON: ARTSCOMMON AND ARTISTS QUARTERS EDMONTON OPERA CENTRE WINSPEAR CENTRE FOR MUSIC THE FESTIVAL CITY OVER 55 ANNUAL FESTIVALS AND EVENTS EDMONTON INTERNATIONAL FRINGE THEATRE FESTIVAL EDMONTON FOLK MUSIC FESTIVAL A TASTE OF EDMONTON EDMONTON INTERNATIONAL STREET PERFORMERS FESTIVAL EDMONTON DRAGON BOAT FESTIVAL NEXTFEST EDMONTON PRIDE FESTIVAL SYMPHONY UNDER THE SKY ICE ON WHYTE FESTIVAL FREEWILL SHAKESPEARE FESTIVAL K-DAYS WHYTE AVENUE ART WALK Source: Edmonton Economic Development Corporation CBRE RESEARCH 2018 CBRE, LTD. 9

NORTHERN ALBERTA INVESTMENTS PROJECTS UNDER CONSTRUCTION PROPOSED PROJECTS LINE 3 PIPELINE REPLACEMENT $7.5 BILLION FRONTIER OIL SANDS MINE $20.6 BILLION TRANS-MOUNTAIN PIPELINE EXPANSION $7.

10 NORTHERN ALBERTA INVESTMENTS PROJECTS UNDER CONSTRUCTION PROPOSED PROJECTS LINE 3 PIPELINE REPLACEMENT $7.5 BILLION FRONTIER OIL SANDS MINE $20.6 BILLION TRANS-MOUNTAIN PIPELINE EXPANSION $7.4 BILLION MACKENZIE GAS PIPELINE PROJECT $16.2 BILLION VALLEY LINE LRT STANTEC HEADQUARTERS BUILDING MARRIOTT HOTEL AND THE LEGENDS $3.2 BILLION $500.0 MILLION $350.0 MILLION INTER PIPELINE PROPANE DEHYDROGENATION PLANT CANADA KUWAIT PETROCHEMICAL PROPANE DEHYDROGENATION FACILITY $3.8 BILLION $3.5 BILLION YELLOWHEAD TRAIL UPGRADES $1 BILLION PROJECTS BY INDUSTRY OIL AND GAS $91.2 BILLION PIPELINES $39.3 BILLION INFRASTRUCTURE $19.2 BILLION INDUSTRIAL $13.2 BILLION POWER $8.2 BILLION INSTITUTIONAL $7.5 BILLION TOURISM / RECREATION $6.4 BILLION MIXED-USE $6.2 BILLION RESIDENTIAL $4.2 BILLION COMMERCIAL $3.3 BILLION RETAIL $0.6 BILLION TOTAL: $199.4 BILLION $84.9 BILLION [UNDER CONSTRUCTION $114.5 BILLION PROPOSED [ ALBERTA REPRESENTS 30.0% OF CANADA S INVESTMENTS IN THE LAST 10 YEARS PEACE RIVER GRANDE PRAIRIE HINTON CENTRAL & NORTHEAST 65.0% CONSTRUCTION ACTIVITY NORTHWEST WHITECOURT ST. ALBERT EDSON SPRUCE GROVE LEDUC WEST CENTRAL BANFF RED DEER LETHBRIDGE NORTHEAST FORT MCMURRAY CENTRAL EDMONTON SOUTH CENTRAL COLD LAKE FORT SASKATCHEWAN CALGARY SOUTH EAST CENTRAL LLOYDMINSTER MEDICINE HAT Source: Government of Alberta WHY EDMONTON? DISCOVER CANADA S GATEWAY TO THE NORTH 2018 CBRE, LTD. 10

ALBERTA S INDUSTRIAL HEARTLAND ALBERTA S INDUSTRIAL HEARTLAND IS ONE OF THE WORLD S MOST ATTRACTIVE LOCATION FOR CHEMICAL, PETROCHEMICAL AND OIL AND GAS INVESTMENT.

11 ALBERTA S INDUSTRIAL HEARTLAND ALBERTA S INDUSTRIAL HEARTLAND IS ONE OF THE WORLD S MOST ATTRACTIVE LOCATION FOR CHEMICAL, PETROCHEMICAL AND OIL AND GAS INVESTMENT. THE PROXIMITY TO COMPETITIVE ABUNDANT NATURAL RESOURCES, POLITICALLY AND FISCALLY STABLE GOVERNMENT, AND ACCESS TO SKILLED LABOUR, HAS POSITIONED THE HEARTLAND AS CANADA S LARGEST HYDROCARBON PROCESSING REGION. THE HEARTLAND OVER $35 BILLION INVESTED TO DATE $15 BILLION PROPOSED INVESTMENT OVER THE NEXT DECADE PRODUCES 43% OF THE NATIONAL BASIC CHEMICAL MANUFACTURING SERVES AS LOGISTICS & MARKET CENTRE FOR MULTIPLE PIPELINE TERMINALS PROCESSING REGION FRACTIONATION CAPACITY (360 MBPD) PETROLEUM REFINING (450 MBPD EXPANDING TO 600 MBPD) BITUMEN UPGRADING (250 MBPD) Source: Alberta Industrial Heartland 582 KM 2 OF INDUSTRIAL ZONED LAND CBRE RESEARCH 2018 CBRE, LTD. 11

Image courtesy of Katz Group FOR MORE INFORMATION ABOUT THIS REPORT OR CBRE RESEARCH: MIGUEL MARTINEZ Sr. Research Analyst +1 780 917 4628 miguel.martinez2@cbre.

12 Image courtesy of Katz Group FOR MORE INFORMATION ABOUT THIS REPORT OR CBRE RESEARCH: MIGUEL MARTINEZ Sr. Research Analyst CBRE EDMONTON Street Suite 1200 Edmonton, AB T5J 3S4 Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to confirm independently its accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. REVISED: JULY 2017 WHY EDMONTON? DISCOVER CANADA S GATEWAY TO THE NORTH 2018 CBRE, LTD. 12

2008 ANNUAL ALBERTA LABOUR MARKET REVIEW

2008 ANNUAL ALBERTA LABOUR MARKET REVIEW ANNUAL ALBERTA LABOUR MARKET REVIEW employment unemployment economic regions migration aboriginal people industries occupations education demographics Employment and Immigration EMPLOYMENT Employment increased