Credit Rating Report

Caisse de dépôt et placement du Québec and CDP Financial Inc.: Rating Report

Pension Funds

Summary

DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating of Caisse de dépôt et placement du Québec at AAA. DBRS Morningstar also confirmed CDP Financial Inc.’s Long-Term Debt rating at AAA as well as its Canadian Short-Term Promissory Notes, U.S. Commercial Paper Notes, and Euro Commercial Paper Notes ratings at R-1 (high). All trends are Stable.

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