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In this AIF, unless otherwise indicated, all dollar amounts are expressed in Canadian dollars. The daily foreign exchange rate for Canadian/U.S. dollars as published by the Bank of Canada on February 26, 2021, the last business day prior to fiscal year end, was Cdn$1.2685 = U.S.$1.00.
Except as otherwise indicated, the information contained in this AIF is stated as at February 28, 2021.
NON-IFRS FINANCIAL PERFORMANCE MEASURES
This Annual Information Form ("AIF") contains references to "Net Asset Value" or "NAV", which is a non-IFRS financial performance measure. The NAV is calculated as the value of total assets less the value of total liabilities. To arrive at NAV per share, the NAV is then divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to IFRS and therefore may not be comparable to similar measures presented by other companies. The NAV equals Uranium Participation Corporation's ("UPC" or the "Corporation") total equity balance as reported in the Corporation's consolidated financial statements. NAV per share does not have a comparable IFRS financial measure presented in UPC's consolidated financial statements and thus there is no applicable quantitative reconciliation for this non-IFRS financial performance measure. The Corporation has calculated NAV and NAV per share consistently for many years and believes these measures provide information useful to its shareholders in understanding UPC's performance and may assist in the evaluation of the Corporation's business relative to that of its peers.