Greater Montréal: An innovative and booming tech hubof deep learning researchers in the world Top 5 largest video game development hub in the world Thriving hubs in fast growing sectors:

Old Port, Grande-Roue and downtown Montréal © Loïc Romer

Greater Montréal: An innovative and booming tech hub

Montréal’s Olympic Stadium © Parc olympique

Globally recognized

Most reputable city in the AmericasReputation Institute, 2018

Best city in Canada and 6th in the worldTime Out, 2019

Best student city in the AmericasQS Best Student Cities Rankings, 2019

Most affordable major city in Canada and the U.S.UBS Prices and Earnings, 2018

Best Cycling City in North AmericaCoya, Global Bicycle Cities Index, 2019

Second most walkable city in CanadaWalk Score, 2020

3rd friendliest city in the worldRough Guides, 2016

UNESCO City of Design since 2006

Top host city in North America for international

association eventsUnion of International Associations (UIA), 2019

2

Source: Conference Board of Canada, 2020; Statistics Canada, 2020; Montréal

International Analysis.

A strong and growing metropolis, strategically located in North America

Population 4.3 million residents 23% of population are foreign-born

(34% for the city of Montréal)

Economy Best economic growth in Canada in 2018

and 2019 $2.6 billion in foreign direct investment

in 2019 supported by Montréal International

Location 82 municipalities, 1 metropolitan area A 90-minute flight to Boston and New York City Less than a one-hour drive to the U.S. border

3

LOS ANGELES

VANCOUVERTORONTO

BOSTON

NEW YORK

WASHINGTON

LONDRON

PARIS

MONTRÉAL

CHICAGO

4

The highest concentration of tech jobs in Canada

Source: Brookfield Institute for Innovation and Entrepreneurship, “The State of Canada’s Tech Sector”, 2017; “Tech Talent Analyzer”, CBRE, 2019.

Greater Montréal

has the 5th highest

concentration of tech

jobs among the largest

metropolitan areas

in Canada and the U.S.

0.7

0.7

0.70

.91.11.21.3

1.3

1.3

1.31.4

1.7

70% more

than the

Canadian

average

Tech sector jobs concentration across Canada, 2016

Index: Canadian average = 1.0

McTavish Street © Montréal International

Source: QS Best Student Cities in the World, 2019; Ministry of Education,

Leisure, and Sports, Québec, 2018; Research Infosource Inc., 2018.

The best student cityin the Americas and Canada's university capital

Canada’s university capital: 11 universityinstitutions and 60 colleges

320,000 post-secondary students, includingmore than 200,000 university studentsand 35,500 international university students

$1+ billion in funding yearly dedicatedto university research

Best student city in the Americas:

5

Montréal

Toronto

Boston

Vancouver

New York

1

2

3

4

5

Best student

city in the

Americas2019 QS Best

Student Cities

Rankings

6Village au Pied-du-Courant and Pont Jacques-Cartier © Montréal International Source: Statistics Canada, 2016.

Canada's most bilingual and trilingual population

2.5 million residents speak English,that’s 9% more than in Vancouver

55% of the population is bilingual(French and English), compared to 8% in Toronto and 7% in Vancouver

Almost 20% of the population is fluent in three or more languages, compared to 4% in Toronto and 3% in Vancouver

Downtown Montréal © Henry MacDonaldSource: fDi Benchmark, 2019.

Attractive operating costs

Overall, running a business costs lessin Greater Montréal than in any other major metropolitan area in Canada and the U.S.

More than a 26% cost advantage on averagefor high-tech sectors:

7

23%

23%

23%

24%

24%

25%

26%

27%

28%

28%

28%

29% 32%

Greater Montréal’s cost advantagecompared to the average of the 20 largest

metropolitan areas in Canada and the U.S., 2019

Source: CBRE, “Tech Talent Analyzer”, 2019.

The most affordable tech salary costs

Greater Montréal has the lowest tech talent wage in

Canada and the U.S. with an average of US$75,630:

8

75.6

80.1

81.8

86.2

88.1

88.3 93.9

95.9

96.1

98.0 104.0

106.6

112.7

113.5

117.8 129.7

Vancouver

Montr

éal

Mia

mi

Washin

gto

n D

.C.

Seatt

le

Los A

ngele

s

New

York

Austin

To

ronto

Phoenix

Chic

ago

Atla

nta

Housto

n

Dalla

s

Bosto

n

San F

rancis

co

Average tech talent yearly wage (in US$ 000’s)

Selected metropolitan areas in Canada and in the U.S.

9

Easy access to highly advantageous incentives

Note:

* Rate LG: large power with minimum billing demand of 5,000 kW, transmission and distribution included, for 120-kV supply with 95% load factor, and including the Economic

Development Rate reduction (if eligible).

Sector tax creditsEquivalent to eligible salaries and

expenses:

Up to 43% for film and video production

Up to 37.5% for multimedia production

Up to 30% for e-business development

24% for international financial centres

Major projects

and innovationsGrants, interest-free loans

and other supports available,

including competitive electricity rates

of CA¢3.98/kWh for large power*

Labour developmentExample of incentives:

25% of costs to implement

training programs

50% of costs to create an HR

department

Research and development Up to 30% tax credit on R&D

expenses

Tax holiday for foreign researchers

and experts

Many tax credits

are refundable

—a company could

receive the value of its tax

credit even if it has

no tax payable

Rosemont © Montréal International

* Montréal International’s analysis.

Source: “Cost of Living Survey,” Mercer, 2019.

A low cost of living

Greater Montréal is cheaper than almost all other large cities in North America and Western Europe:

10

Mercer Cost of Living Index

World rank from least to most expensive*, 209 cities

Bosto

n

Vancouver

Montr

éal

Toro

nto

Atlanta

Berl

in

Washin

gto

n

Seattle

200

Pari

s

Chic

ago

London

Los A

ngele

s

San F

rancis

co

New

York

191

7094 97

128140 145 160 162 167 172186

193Rank

Greater Montréal offers a higher purchasing power thanks to:

Cheap housing

Generous family allowances

Low private medical insurance costs

Affordable child care

Major companies

located in Greater Montréal

11

A world leader in high value-added sectors

Source: MILA; Québec Film and Television Council, 2018; Game Industry career guide, “Best cities for video game development jobs”, 2015; Statistics Canada, 2019; U.S. Bureau

of Labor Statistics, 2019; Montréal International Analysis.

2nd

largest aerospace hub

in North America

Top 6largest life sciences

and health technologies

hub in North America

1st

largest VFX and

animation hub in

Canada and a VFX

world leader

1st

highest concentration

of deep learning

researchers in the

world

Top 5largest video game

development hub in

the world

Thriving hubs in fast growing sectors:

IT, fintech and financial services, electric

and smart transportation, cleantech,

innovative manufacturing, transportation

and logistics, retail and fashion, etc.

+

Downtown MontréalSource: MILA; Montréal International Analysis.

A world-class hubin artificial intelligence

$2+ billion in AI investments in Greater Montréal since 2016

The Canadian government chose Montréal as headquarters for scale ai, Canada's AI supply chain supercluster

A community of more than 500 researchers and graduate students at Mila - the world’s largest academic research lab in deep learning and reinforcement learning.

Sample of major players located in Greater Montréal:

12

13

A few of the world leaders developing their AI expertise in Montréal

Dec. 2018

opens an

AI office

Jan. 2017

acquires

Maluuba and

announces the

hiring of 40 AI

specialists

Sept. 2017

opens Facebook

AI Research

headed by Joëlle

Pineau,

Associate

Professor at

McGill

University

Nov. 2017

RBC opens

AI lab

March 2018

Techstars,

along with

Real Ventures

announce the

opening of a new

AI accelerator

in Montréal

Sept. 2018

expands its lab

to accommodate

up to 60

researchers

Nov. 2016

opens Google

Brain Montréal

headed by Hugo

Larochelle

April 2017

opens an

AI lab

Oct. 2017

opens its second

international AI

lab in Montréal

picks Montréal

for new AI global

hub

Jan. 2018

expands

research lab

and hires Geoff

Gordon to be

the lab’s new

research

director

Oct. 2018

opens an AI Centre

and expands AI

research presence in

North America

First VC from Silicon

Valley to open an

office in Montréal

May 2018

creates an AI

innovation

centre – 60

new jobs in 3

years

Jan. 2019

opens an

AI innovation

lab

June 2018

opens an

AI lab

April 2019

opens an AI

lab

May 2019

launches

its global AI

accelerator

June 2019

opens an

AI lab

Nov. 2019

establishes

strategic

alliance with

Québec AI

Institute Mila

Feb. 2020

announces

major

expansion

in Montréal

Other foreign companies flourishing in Greater Montréal

Life sciences and health technologies: 6th in North America

*Note: Among the 20 biggest cities in Canada and the U.S.

Source: Ministry of Economy, Innovation and Exports, 2017; Montréal Invivo 2017; Statistics Canada, 2019 and Bureau of Labor Statistics (BLS), 2019; fDi Benchmark, 2019.

56,000 industry jobs in Québec(80% in Greater Montréal)

650 companies

Most competitive operating costs in Canada and the U.S. for bio-pharma, clinical trials, life sciences R&D, and medical devices

Internationally-acclaimed fields of expertise:

14

OncologyCardio-vascular and metabolic diseases

Neuroscience and mental health

Infectious diseases

Aging

Cellular therapy and regenerative medicine

Precision medicine

Medical imaging

and cytometry

Big Data

and

AI

Major companies located in Greater Montréal

A leader in electric and smart transportation

Source: Ministry of Economy and Innovation, 2018; Association des Véhicules Électriques du Québec, 2018.

Leading-edge expertise in ground transportation, with 32,000 jobs and 650 companies in the field

40 manufacturing companies and 3,000 direct and indirect jobs in the electric vehicle industry

Close to 30 research groups and research centres

800 patents and 40 licences held by IREQ, Hydro-Québec’s research institute

99%+ electricity from renewable sources

Cutting-edge information technology expertise

A world-class hub in artificial intelligence

15

Major companies located in Greater Montréal

Crew Collectif & Café © Susan Moss

Source: OECD Indicators of Talent Attractiveness, 2019; ”Global Ecosystem

Report” 2018; Credo, “Montréal Startup Ecosystem Report”, 2016; “Midterm

Report” – Smart City, February 2017; PwC Canada | CB Insights, Canadian

Report “Money Tree”, 2019.

A booming startup ecosystem

Canada is the most attractive country in the world for entrepreneurs according to the OECD

US$1.7+ B in VC investments since 2018 in Montréal

Six of the eight most active VCs in Canada in 2019 are based in Greater Montréal

30+ incubators/accelerators

45+ coworking spaces

16

© Element AI

A place where startups scale

Highest rounds raised in the last year by Montréal startups:

17

raised US$210M – July 2019 Series D

raised US$151M – Sept. 2019 Series B

raised US$82.5M – Sept. 2019 Series B

raised US$70M – May 2020 Series E

raised US$40.3M – Nov. 2019 Series A

raised US$37M – January 2020 Series C

raised US$28.4M – June 2020 Series B

Montréal startup ecosystem at a glance

Source: Bonjour Startup Montréal, 2020.18

Source: Centech, 2020.

Centech: accelerating high-tech innovation

Part of the top 20 university business incubatorsin the world by UBI Global 2019. Powered by École de technologie supérieure (ÉTS), Centech provides mentoring, coaching and financial support to companies.

Centech is particularly active in the fields of medical technologies, manufacturing, telecoms and microelectronics and other intelligent objects.

19

20

Samples of leading startup

Dataperformers is an Applied AI company from Montreal building advanced and

cross-industry technologies and products.

Repare Therapeutics is a biotech company developing treatments that are aimed at

treating more than one kind of cancer in patients with genetic disabilities.

The wrnchAI engine is a real-time AI software platform to digitize human motion and

behaviour from standard video using deep learning and human pose estimation.

Imagia Healthcare delivers AI clinical solutions to our B2B partners, as R&D tools,

digital health products, or fully regulated software-as-medical-devices.

Lightspeed powers small and medium-sized businesses with its cloud-based, omni-

channel commerce platforms in over 100 countries around the world.

SPARK Microsystems is a fabless semiconductor company leading the way towards

ultra-low power, ultra-low latency wireless communications. The company also

seeks to bring battery-less operation to the market.

21

A unique centre of excellence:IVADO (Institute for Data Valorisation)

1,300+ scientists (professors, professionals and students) in data science, operations research and AI

#1 for publications worldwide 200+ collaborative research projects

Research

centres

University

departments

Academic

partners

International

partners

20+research chairs

& labs

ENCQOR 5G: unlocking technological promise through Canada's 5G corridor

Source : ENCQOR, 2020.

$400M invested into Canada’s 5G public-private

ENCQOR project network over the next five

years starting in 2018

The Canada-Québec-Ontario partnership establishes

the first Canadian pre-commercial corridor of 5G

digital infrastructure and provides a platform where

SMEs can test ideas and technology

ENCQOR offers various calls for projects and builds

adoption projects, collaborative R&D projects, as well

as financed IT projects (75 pre-commercial

technology projects)

22

23

Montreal: Samples of collaborations

Dana Incorporated and Hydro-Québec

announced a strategic joint-venture in which TM4 Inc., a subsidiary of

Hydro-Québec, will become Dana’s source for electric motors,

power inverters, and control systems. (2018)

NSERC/Hydro-Québec/Thales Senior Industrial Research Chair in

Smart Grid Security: Detection, Prevention, Mitigation and Recovery

from Cyber-Physical Attacks

Nikon Corporation (Nikon) has invested USD $7.5 million in wrnch,

Inc., a computer vision and deep learning startup, to expand the range

of Nikon's Imaging Business

Montréal International, a single point of access to a seriesof personalized, free and confidential services

Long-term

strategic support

Economic data

and communication

services

Government

relations facilitation

Incentive programs

assistance

International

recruiting solutions

Foreign workers

immigration

assistance

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Contact us

Montréal International380 Saint-Antoine Street WestSuite 8000Montréal, Québec H2Y 3X7

t +1 514-987-8191www.montrealinternational.com

Marika TassoniProject Director – Asia-Pacific & Aerospace

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