March 14, 2013

TORONTO – Ontario Teachers' Pension Plan (Teachers') announced today that its recently formed Natural Resources Group (NRG) has completed the purchase of a working interest in the Weyburn Unit, a Saskatchewan oil asset, for $153.4 million.

Teachers' purchase of a 4.9% interest in the Weyburn Unit is part of the 10.02% position sold by a mid-sized Calgary-based oil and gas company. The entire Unit produced approximately 25,000 barrels of crude oil per day in 2012. It has been in operation since 1963 and features long-life reserves, a predictable production profile and free cash-flow generation – all attributes NRG is seeking for its portfolio.

NRG was established at the beginning of 2013 to combine Teachers' financial exposure to commodities with direct physical investments in producing natural resource assets. The group's broader goal is to provide the plan with superior risk-adjusted returns, diversification and protection against adverse macro-economic environments that could lead to unexpectedly high inflation. In addition to the current physical investments, which include timberlands and Canadian oil and gas assets, potential opportunities also include agriculture and mining.

About Teachers'
With $117.1 billion in assets as of December 31, 2011, the Ontario Teachers' Pension Plan is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund's assets and administers the pensions of 300,000 active and retired teachers in Ontario. For more information visit www.otpp.com.

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Lori McLeod
Ontario Teachers'
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