IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8 (the “PBA”);

AND IN THE MATTER OF a Notice of Intended Decision of the Superintendent of Financial Services to consent under section 62.1(5) of the PBA to a payment out of the pension fund for the Hollinger Canadian Publishing Holdings Company Retirement Plan, Registration Number 0526947(the “Plan”).

TO:

Hollinger Canadian Publishing Holdings Co.
300 North LaSalle Street, Suite 4925
Chicago, Illinois
U.S.A. 60654

Attention:
Mr. Michael Krupa
Chief Restructuring Officer

Applicant and Employer

AND TO:

Mercer (Canada) Limited
2400 – 255 Queens Ave.
London, ON N6A 5R8

Attention:
Wade Schaefer, Principal, F.S.A., F.C.I.A

CONSENT

ON OR ABOUT September 29, 2014, the Superintendent of Financial Services issued a Notice of Intended Decision in respect of the Hollinger Canadian Publishing Holdings Company Retirement Plan, Registration No. 0526947, to consent, pursuant to section 62.1(5) of the PBA, to payment out of the Plan to Hollinger Canadian Publishing Holdings Co. in the amount of $3,854,744, as at June 23, 2014, with interest thereon.

NO REQUEST FOR HEARING was delivered to the Financial Services Tribunal by the Applicant or any other party within the time prescribed by section 89(6) of the PBA.

THE SUPERINTENDENT OF FINANCIAL SERVICES THEREFORE CONSENTS, for the reasons set out in the Notice of Intended Decision, to the payment out of the Hollinger Canadian Publishing Holdings Company Retirement Plan to Hollinger Canadian Publishing Holdings Co. in the amount of $3,854,744, as at June 23, 2014, with interest thereon.

DATED at Toronto, Ontario, this this 14th day of August, 2014.

Original Signed By

John Avgeris
Director, Pension Plans Branch
by Delegated Authority from the
Superintendent of Financial Services