ELISABETH HENRIQUES

410 QUEENS QUAY WEST

APT. 305
TORONTO ON M5V 3T1

AC/SUP/0716-1947/11

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 Annual Statement
January 1 to December 31, 2022

ELISABETH HENRIQUES Page 3 of 8

Member ID 114344

Your lifetime pension earned to December 31, 2022 Member information

Name
Annual pension payable at age 65 $21,473.52 ELISABETH HENRIQUES
Monthly pension payable at age 65 $1,789.46 Date of birth
December 4, 1967

When can you retire? Date of hire

August 21, 2000

Date of enrolment
Normal retirement date August 21, 2000
The end of the month you turn 65 December 31, 2032 Employment type
Full time

Early retirement dates Jurisdiction of employment

Ontario
Estimated earliest date you can retire with a DBprime unreduced pension October 31, 2026
You are eligible to retire immediately with a DBprime reduced pension You are vested in your pension.

Pension Registration
Number: 0589895
Survivor benefits Province of Plan
Registration: Ontario
Spouse (as identified in our records) None

Designated beneficiaries
ALEXIA DA COSTA HENRIQUES 100.00% of benefit

Contact the
Colleges of Applied Arts and
Technology Pension Plan

250 Yonge Street, Suite 2500

P.O. Box 40
Toronto, ON M5B 2L7

Telephone: 416.673.9000
Toll-free: 1.866.350.2228
member@caatpension.ca

www.caatpension.ca

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 Annual Statement
January 1 to December 31, 2022

Page 4 of 8
Member ID 114344

Your pension at age 65, earned to the end of 2022

Annual pension
The graph shows the increase in your pension from your last statement

Total $21,473.52 When you retire, your pension is

Total $20,118.72 paid every month for the rest of
your life.

Pension Pension
$20,118.72 $21,473.52

Total annual pension Total annual pension

as of December 31, 2021 as of December 31, 2022

Annual pension payable from normal retirement date

As of December 31 As of December 31
2021 2022

DBprime pension $20,118.72 $21,473.52

Total lifetime pension $20,118.72 $21,473.52

If you retire early, you will also be entitled to a DBprime bridge benefit, in the amount of
$9,367.92, payable to age 65. The start date of the DBprime bridge benefit will depend on your
years of service in the Plan and when you retire. If, when you retire, you are not eligible for an
unreduced DBprime pension, your pension and any DBprime bridge benefit payable will be
reduced.

CAAT Retirement Compensation Arrangement

This statement includes any contributions you may have made to the CAAT Retirement
Compensation Arrangement (CAAT RCA), and the total estimated pension (some of which may
be paid from the CAAT RCA if eligible) payable to you at your normal retirement date, based on
your contributions, eligible service and salary as of the date of this statement.
If your DBprime pension exceeds the maximum pension that can be paid from the CAAT Plan Your Pension Statement is
under the Income Tax Act when you retire, any excess pension above the maximum in respect intended as a summary only. For
of eligible service in the CAAT RCA will be paid from the CAAT RCA. Note that if you are a comprehensive description of
eligible for a pension from the CAAT RCA when you retire, you are not entitled to CAAT RCA the CAAT Pension Plan
provisions, please visit
benefits in respect of any purchased or transferred service unless service has been specifically
www.caatpension.ca or contact
purchased separately under the CAAT RCA. Further details on the CAAT RCA, including with the CAAT Pension Plan. If there
respect to eligibility for benefits and eligible service, can be found at www.caatpension.ca. are any discrepancies between
this Pension Statement and the
Plan Terms, the Plan Terms will
prevail.

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 Annual Statement
January 1 to December 31, 2022

Details about your pension - DBprime Page 5 of 8

Member ID 114344

Earnings
Highest average pensionable earnings (HAPE) $68,791.53 Pension formula:
Average year’s maximum pensionable earnings (AYMPE) $59,700.00 DBprime
HAPE to Pensionable
1.3% x x
AYMPE service
DBprime member contributions +
HAPE
Total contributions plus interest as of December 31, 2021 $139,917.67 2% x above x
Pensionable
service
Contributions made in 2022 $8,602.27 AYMPE

Interest credited in 2022 $1,081.58 = Your annual lifetime

pension
Total contributions + interest as of December 31, 2022 $149,601.52 HAPE to Pensionable
0.7% x x
AYMPE service
Your bridge benefit
DBprime pensionable service =
payable to age 65
Pensionable service as of 2021 21.41667 HAPE
Pensionable service earned in 2022 1.00000 The annual average of your
pensionable earnings over the
Total pensionable service as of December 31, 2022 22.41667 five consecutive years of
pensionable service during which
your earnings were highest.
Pension Calculation AYMPE
((1.3% x $59,700.00) + (2% x $9,091.53)) x 22.41667 = $21,473.52 The annual average of the
YMPE for the year you retire, or
The pension formula displayed is for illustrative purposes only and amounts included in the the year you switch into DBplus,
calculation may vary slightly from those found in other sections of this statement. and the four previous years.

Pensionable service
DBprime purchases Your pensionable service
You have not purchased or transferred any service into the Plan. includes all periods you were
employed and contributed to the
CAAT Plan under the DBprime
design, or were on long term
disability. It also includes any
purchased or transferred service
to the end of 2022.

Are you in the process of a

purchase?
If your purchase or transfer
wasn’t completed in the previous
year, the purchase information
will appear on a future annual
statement.

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 Annual Statement
January 1 to December 31, 2022

Details about Plan provisions Page 6 of 8

Member ID 114344

Retiring before age 65 - early retirement

Your early retirement dates are estimates for planning purposes only. They can be affected by future events such as a leave of
absence, a service purchase, or a transfer. Eligibility for an early retirement pension is a function of age and service. If you retire
before you are eligible for an unreduced pension, your pension accrued in the CAAT Plan will be reduced. If you retire before age 65,
you will receive a temporary DBprime bridge benefit paid until you turn 65. Your DBprime bridge benefit will be reduced by the same
factor as your early reduced lifetime pension earned in the CAAT Plan.
Visit the CAAT Pension Plan website and use the online pension estimator to model possible scenarios for your retirement.

Survivor benefits if you die before you retire

The CAAT Pension Plan pays a pre-retirement death benefit if you die before you retire. If you have an eligible spouse on the date of
your death, this person is the sole recipient of the pre-retirement death benefit. Your designated beneficiaries can only receive the
pre-retirement death benefit if you do not have an eligible spouse on the date of your death. Your spouse is the person to whom you
are married or that you are in a common-law relationship with, as defined by applicable legislation in your jurisdiction of employment.
You can find the definition of spouse for each jurisdiction by visiting www.caatpension.ca.
The CAAT Pension Plan considers your spouse to be the eligible spouse for the pre-retirement death benefit if, on the date of your
death:
• your spouse meets the definition based on your jurisdiction of employment, and is not living ‘separate and apart’ based on the
applicable definition, and
• your spouse has not waived pre-retirement death benefits. For a waiver to be effective it must be in accordance with conditions
set out by applicable legislation. Contact the Plan for the spousal waiver that applies to your jurisdiction of employment.
If you die before retiring, your eligible spouse, if any, can choose one of the following benefits:
• an immediate pension
• a deferred pension payable when your eligible spouse reaches age 65, or
• transfer of the commuted value (the lump sum value) of your pension.
You should name, as your designated beneficiaries, the person or persons who you would like to receive the pre-retirement death
benefit in the event that you do not have an eligible spouse on the date of your death.
If you do not have an eligible spouse on the date of your death and have not named any designated beneficiaries, the pre-retirement
death benefit will be paid to your estate. Nevertheless, if you do not have an eligible spouse, but have eligible children on the date of
your death, and your jurisdiction of employment is Ontario or Nova Scotia, they receive a children’s pension, and the pre-retirement
death benefit paid to your designated beneficiaries or estate will be correspondingly reduced.
You may have additional survivor benefit options based on your jurisdiction of employment, please contact the Plan for more details.

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 Annual Statement
January 1 to December 31, 2022

Plan amendments in 2022 Page 7 of 8

Member ID 114344

In 2022, the CAAT Pension Plan Text was amended to add new participating employers into the Plan. This includes, subject to
regulatory approval, amendments to accept and merge into the Plan the defined benefit assets and liabilities from the pension plans
of MC LegalManagement Limited Partnership, The College of Family Physicians of Canada, Angus Consulting Management Limited
and Healthcare Excellence Canada/ Excellence en santé Canada. There are no changes to Plan governance as a result of the
addition of these new participating employers. The Plan Text was also revised: to guarantee annual AIW increases for active DBplus
members until 2025 and extend the current DBplus early retirement adjustment factor until 2025; to provide that a DBprime member
will no longer qualify as Disabled if they engage in any work for profit; and to extend the deadline for employers to remit contributions.
An amendment was also made to clarify the maximum survivor pension benefit payable under the Income Tax Act for non-spouse
beneficiaries. Additional clarifying amendments aligned DBplus provisions with current administrative practices and interpretation,
including: updating purchase provisions, accommodating various contribution rate scenarios, and making minor corrections. An
amendment was also made to the DBplus provisions to permit additional contribution flexibility. The amended Plan Text has been
filed with the Financial Services Regulatory Authority of Ontario and can be viewed on our website (About Us / Member Policies).

This statement was prepared based on our records, with information supplied by your employer. If you notice any discrepancies,
please contact the CAAT Pension Plan as soon as possible. The CAAT Pension Plan reserves the right to correct any errors. For a
detailed description of your pension entitlement, please refer to the Plan Text. You can find it on our website at www.caatpension.ca.
Your actual pension entitlement will be determined in accordance with the Plan Text.

This statement was created under the assumption that you are an active member of the CAAT Pension Plan. If you are no longer
employed with your CAAT Plan participating employer, you may be within your Extension of Membership (EOM) period. In that case,
you can expect to receive communications about your options within 24 months of your termination of employment. For an
explanation of your entitlements during the EOM period, visit the Members section of our website and click on “Leaving your job”.

DBprime contribution rates are the same for both members and employers. Contribution rates for DBprime for 2022 were 11.20% on
earnings up to the 2022 YMPE and 14.80% on earnings above the 2022 YMPE. The contribution rates for 2023 remain the same for
members who work full time (11.20% on earnings up to the 2023 YMPE and 14.80% on earnings above the 2023 YMPE).

The interest rate on both member and employer contributions for the period covered by the statement was 0.75%.

As of January 1, 2022, the CAAT Pension Plan had a funding ratio of 124.2%. However, should a subsequent valuation show a going
concern funding deficit, member and employer contributions may increase and/or future benefit accrual may be reduced, in
accordance with the CAAT Pension Plan Funding Policy. Any surplus arising from a going-concern funding valuation would be used
in a manner directed by the Sponsors’ Committee, having reference to the CAAT Pension Plan Funding Policy. Any surplus existing
on windup of the Plan would be distributed for the exclusive benefit of all persons entitled to payment from the Plan.

The “transfer ratio” of a pension plan reflects the solvency status of the pension plan as of a specific date. It is the ratio of solvency
assets to solvency liabilities assuming the pension plan is terminated as of the day of calculation. For the CAAT Pension Plan, the
transfer ratio in the most recently filed valuation as of the end of the statement reporting period was 1.03 at January 1, 2022. The
estimated transfer ratio calculated as of the end of 2022 was 1.18. The government has recognized that this jointly sponsored Plan is
unlikely to ever be wound up. As a result, the transfer ratio has no impact on current Plan funding. Further, employers and members
are not required to make additional contributions to eliminate the solvency funding shortfall shown in the most recently filed valuation.

As a registered pension plan, the CAAT Pension Plan is required to establish a Statement of Investment Policies and Procedures
(SIPP) that details the investment policies and procedures in respect of the Plan’s investments and loans along with whether and how
environmental, social and governance (ESG) factors are incorporated into such policies and procedures. Interested Plan members
can view the CAAT Pension Plan SIPP and the Plan’s Responsible Investing Policy (which details how ESG factors are considered
when looking at the risk and return prospects of potential investments) at any time on our website (www.caatpension.ca), or can view
or obtain a copy of the SIPP at the office of the CAAT Pension Plan; or, subject to applicable fees, by request to the Chief Executive
Officer of the Financial Services Regulatory Authority of Ontario (FSRA).

CAAT Pension Plan benefits are not guaranteed by the Ontario Pension Benefits Guarantee Fund. In the unlikely event that the Plan
is ever wound up, and at that time its assets are not sufficient to meet its liabilities, pension benefits may be reduced.

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 Annual Statement
January 1 to December 31, 2022

The annual amount of pension benefit payable at your normal retirement date earned to the end of the period covered by the
statement is not integrated with, or reduced by, an amount of pension benefit payable under the Canada Pension Plan, the Quebec
Pension Plan or the Old Age Security Act (Canada).

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