USE OF THIS MORNINGSTAR.CA WEB SITE (AND ITS ENTIRE CONTENTS, INCLUDING BUT NOT LIMITED TO THE TEXT, DATA, INFORMATION, MATERIALS, SOFTWARE, AND GRAPHICS CONTAINED OR PROVIDED IN THIS WEB SITE) AND THE SERVICES OFFERED BY MORNINGSTAR RESEARCH INC. ("MORNINGSTAR") ON MORNINGSTAR.CA (COLLECTIVELY, THIS "WEB SITE") IS SUBJECT TO THE TERMS AND CONDITIONS OF THIS FREE USER AGREEMENT (THIS "FREE USER AGREEMENT"). BY USING THIS WEB SITE OR, IF YOU ARE A REGISTERED USER, BY CLICKING ON THE "SUBMIT" BUTTON ON THE REGISTRATION PAGE: (1) YOU REPRESENT THAT YOU HAVE READ AND UNDERSTAND, AND HAVE THE CAPACITY AND AUTHORITY TO ENTER INTO, THIS FREE USER AGREEMENT; AND (2) YOU AGREE TO BE BOUND BY ALL OF THE TERMS AND CONDITIONS OF THIS FREE USER AGREEMENT.

Morningstar may change the terms and conditions of this Free User Agreement at any time. You will find notification of any such changes in the Membership area of this Web site. You will be responsible for regularly checking this area and for reviewing any such changes. In addition, the current Free User Agreement can always be found in the Membership area of this Web site. By using this Web site after any such changes take place, you agree to be bound by such changes. If you do not agree to be bound by any such changes, you must immediately stop using this Web site.

Termination

These terms and conditions are effective until they are terminated by you or Morningstar. You may terminate this Agreement at any time by contacting Morningstar customer support to disable your account ID. These terms and conditions will terminate immediately without notice from Morningstar if, in Morningstar's sole discretion, you fail to comply with any material term or provision hereof or if Morningstar believes that you, by your conduct, have violated any applicable law or are acting contrary to the interests of Morningstar and/or its affiliates.

Ownership and Copyright

You acknowledge and agree that all portions of this Web site including all content, site design, text, graphics and the selection and arrangement thereof is owned by Morningstar or its content providers and is protected by Canadian and international copyright and other intellectual property laws. You further acknowledge and agree that this Web site contains data and information of a proprietary and confidential nature. You agree not to use this Web site (including such data and information) for any purpose other than as set forth in this Free User Agreement and to use reasonable efforts to keep such data and information confidential.

Trademarks

MORNINGSTAR, Morningstar.ca, and the Morningstar logo are registered trademarks of Morningstar. Morningstar's star ratings and style boxes are trademarks of Morningstar. None of Morningstar's trademarks, including but not limited to the foregoing, may be used for any purpose without Morningstar's prior written consent. All trademarks not owned by Morningstar are the property of their respective owners.

Use of this Web Site

You may use this Web site only for your personal, noncommercial use. You may download or print hard copies of this Web site, or portions thereof, only in connection with such personal, noncommercial use, provided that such downloads and hard copies contain the following notice:

"Copyright © 2017 Morningstar Research Inc. All rights reserved."

You may not use or print hard copies of this Web site for any use other than your personal, noncommercial use. Except as expressly set forth in this Free User Agreement, you may not modify, copy, distribute, disclose, retransmit, sell, publish, broadcast, or circulate this Web site or any portion thereof without Morningstar's prior written consent.

Morningstar shall have the right to: (i) restrict or prevent your access to this Web site (or any portion thereof) at any time without notice; or (ii) change or discontinue providing this Web site (or any portion thereof) at any time without notice. Morningstar shall have no obligation to update this Web site or to correct any errors or omissions in this Web site.

Morningstar may require you to become a registered user, pay certain fees, or comply with certain other terms and conditions before using certain portions of this Web site. In all such cases, this Free User Agreement (as supplemented by any other terms and conditions and/or agreement(s) between you and Morningstar) shall continue to govern your use of such portions of this Web site.

Disclaimer of Warranties

THIS WEB SITE IS PROVIDED ON AN "AS IS" AND “WHERE IS” BASIS. MORNINGSTAR DISCLAIMS ALL WARRANTIES OF ANY KIND REGARDING THIS WEB SITE, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OWNERSHIP, NONINFRINGEMENT, ACCURACY OF INFORMATIONAL CONTENT, AND ABSENCE OF VIRUSES AND DAMAGING OR DISABLING CODE.

NEITHER MORNINGSTAR NOR ITS CONTENT PROVIDERS WARRANT THE ACCURACY, CORRECTNESS, COMPLETENESS, OR TIMELINESS OF THIS WEB SITE OR ITS CONTENT. NEITHER MORNINGSTAR NOR ITS CONTENT PROVIDERS SHALL BE RESPONSIBLE FOR INVESTMENT DECISIONS, DAMAGES, OR OTHER LOSSES RESULTING FROM USE OF THIS WEB SITE OR ITS CONTENT. PAST PERFORMANCE OF A MUTUAL FUND, STOCK, OR OTHER INVESTMENT VEHICLE DOES NOT GUARANTEE FUTURE PERFORMANCE.

Some jurisdictions do not allow the exclusion or limitation of implied warranties, so the above exclusions or limitations may not apply.

Limitation of Liability

NEITHER MORNINGSTAR NOR ITS CONTENT PROVIDERS SHALL BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM OR RELATING TO THIS FREE USER AGREEMENT, THIS WEB SITE, ITS CONTENT OR THE USE OF, OR RELIANCE ON, THIS WEB SITE OR ITS CONTENT, WHETHER IN CONTRACT OR TORT, EXCEPT TO THE EXTENT SUCH DAMAGES ARISE DIRECTLY FROM A BREACH BY MORNINGSTAR OF ANY OF ITS EXPRESS OBLIGATIONS UNDER THIS FREE USER AGREEMENT.

MORNINGSTAR'S AND ITS CONTENT PROVIDERS' AGGREGATE LIABILITY ARISING FROM OR RELATING TO THIS FREE USER AGREEMENT, THIS WEB SITE, OR THE USE OF, OR RELIANCE ON, THIS WEB SITE, WHETHER IN CONTRACT OR TORT, SHALL BE LIMITED TO ACTUAL DIRECT DAMAGES THAT CAN BE PROVEN UP TO AN AMOUNT NOT TO EXCEED $1,000.

NEITHER MORNINGSTAR NOR ITS CONTENT PROVIDERS SHALL BE LIABLE FOR ANY SPECIAL, INDIRECT, OR CONSEQUENTIAL OR SIMLAR FORMS OF DAMAGES ARISING FROM OR RELATING TO THE FOREGOING, WHETHER IN CONTRACT OR TORT, EVEN IF MORNINGSTAR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so the above limitations or exclusions may not apply.

Indemnification

You agree to indemnify, defend, and hold harmless Morningstar and its affiliates from and against any and all claims, liabilities, losses, costs, or damages of any kind (including but not limited to attorneys' fees) arising from or relating to: (i) your use of this Web site; (ii) your breach of this Free User Agreement; or (iii) any messages, information, or materials uploaded, posted, published, or transmitted by you in connection with this Web site.

Third-party Web sites, Links, and Information

This Web site may contain information, products, and services provided by third parties and links (including advertisements) to Web sites made available by third parties. This information and these products, services, and links are provided only as a convenience to users of this Web site. Morningstar does not control this information or these products, services, or Web sites and Morningstar does not make any representations or warranties, express or implied, regarding this information or these products, services, or Web sites. Inclusion of any of the foregoing in this Web site does not constitute or imply an endorsement, authorization, sponsorship, or affiliation by or with Morningstar with respect to any third party, any third party's Web site or its content, or any information, products, or services provided by a third party.

Privacy and Information Made Available by You

You hereby acknowledge that Morningstar may be disclosing the information provided by you through your use of this Web site to third parties proprietors in the form of group statistics and you hereby grant to Morningstar your explicit permission to use and disclose the information provided by you through this Web site (including but not limited to information provided through e-mail) to such third parties, or made available through your use of this Web site, for any lawful purpose, without being required to compensate you in any way, unless you indicate otherwise in the Membership area of this Web site.

Information related to your access or use of the Product, including, but not limited to, your personally identifiable information, will be transferred to the U.S. for storage and/or processing. Any such information may be subject to scrutiny pursuant to U.S. law, including, but not limited to, the Patriot Act.

Governing Law and Jurisdiction

This Free User Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario and the laws of Canada applicable therein, without giving effect to any choice-of-law or conflict-of-law provision or rule that would cause the application of the laws of any jurisdiction other than Ontario. You hereby consent to, and agree to bring any and all claims in, the exclusive jurisdiction of the provincial and federal courts located in Ontario, Canada, for any action or proceeding arising under or relating to this Free User Agreement, this Web site, or the use of, or reliance on, this Web site, whether based in contract or tort.

The parties have requested that these terms and conditions and all communications and documents relating hereto be expressed in the English language. Les parties ont exigé que cette entente ainsi que tout document s'y rattachant soient redigés dans la langue anglaise.

Entire Agreement

This Agreement shall constitute the entire agreement between you and Morningstar regarding the subject matter hereof, and shall supersede any and all prior negotiations, representations, warranties, undertakings, or agreements, written or oral, between the parties regarding such subject matter.

Severability

To the maximum extent possible, each provision in this Free User Agreement shall be interpreted in such manner as to be valid and enforceable under applicable law. If any provision of this Free User Agreement is held to be invalid or unenforceable under applicable law, such provision shall be modified so as to be rendered valid and enforceable while implementing, to the maximum extent possible, the original intent of such provision. If such modification is not possible or allowed, then such provision shall be ineffective only to the extent of such unenforceability or invalidity without affecting the remainder of such provision or any other provisions in this Free User Agreement.

No Solicitation

The Web site and the information contained herein does not constitute an offer or a solicitation of an offer for the purchase or sale of any securities.

Morningstar Associates, Inc.

Morningstar Associates, Inc. is a wholly owned subsidiary of Morningstar Canada Group Inc., which is a Canadian subsidiary of Chicago-based Morningstar, Inc., a leading provider of independent investment research in North America, Europe, Australia, and Asia.

The information contained in articles, videos or other forms of content indicated as being authored by Morningstar Associates is the proprietary material of Morningstar Associates. Reproduction, transcription, or other use, by any means, in whole or in part, without the prior written consent of Morningstar Associates, is prohibited. Opinions expressed are as of the current date; such opinions are subject to change without notice. The information, data, analyses, and opinions presented therein do not constitute investment advice, are provided solely for informational purposes and therefore do not constitute an offer to buy or sell specific securities mentioned within this document or any other investment options. Past performance does not guarantee future results.

Morningstar Associates, its affiliates, officers, directors and employees shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, the information, data, analyses or opinions contained herein or their use. Investments in securities are subject to market and other risks, and thus will not always be profitable. Diversification does not eliminate the risk of experiencing investment losses. Before making any investment decision, investors should read all related documents, including those detailing risk factors.

Some commentaries contain certain forward-looking statements, using words such as “expects”, “anticipates”, “believes”, “estimates”, “forecasts”, and similar expressions to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially and/or substantially from any future results, performance or achievements expressed or implied by those projected in the forward-looking statements for any reason.

THIS FREE USER AGREEMENT WAS LAST UPDATED ON February 21st, 2007.