Pacific & Western has a corporate disclosure framework, the objectives of which are the following: to provide reasonable assurance that material information relating to Pacific & Western is communicated to senior management by others within Pacific & Western; to establish a process to ensure that the communications to the public are timely, factual, accurate, and complete, and broadly disseminated in accordance with all legal requirements; and, to identify the principles of disclosure of material information and provide guidance on related disclosure of information and public communication issues.

In addition to corporate disclosure policies, Pacific & Western has established a Disclosure Committee, as well as disclosure controls and procedures. The Mandate of the Disclosure Committee provides that its members are to, among other things: design a set of disclosure controls and procedures to provide reasonable assurance that material information relating to Pacific & Western is communicated to the President & Chief Executive Officer and the Senior Vice-President & Chief Financial Officer by others within Pacific & Western; review prior to filing, or prior to submission to the Audit Committee or Board of Directors, as applicable, annual filings, interim filings, material change reports, management proxy circulars, earnings releases, and other reports filed or submitted under securities legislation; and, ensure an annual evaluation of the effectiveness of the disclosure controls and procedures is carried out and conclusions about the effectiveness of the disclosure controls and procedures is disclosed in the annual MD&A.

Pacific & Western’s financial results are announced quarterly, following review and approval by the Audit Committee or the full Board of Directors, as applicable. These results are disseminated broadly and are available on Pacific & Western’s website.