Common use of INTEREST RATES AND CALCULATION OF CREDIT CHARGES Clause in Contracts

INTEREST RATES AND CALCULATION OF CREDIT CHARGES. a) Regular purchases: credit charges shall not apply to regular purchases appearing on the account statement provided that the balance of all indebtedness and accrued credit charges is paid in full by the due date shown on the account statement. Otherwise, credit charges are charged on regular purchases appearing on the account statement based on the average daily balance from the date of each purchase until the purchases are paid in full, at the annual interest rate in effect for the period covered by the account statement. However, if the total balance outstanding indicated on a subsequent account statement is paid in full by the due date shown, purchases not yet paid shall be exempt from credit charges for the period for which full payment has been made. Annual interest rate: 9.90% b) Cash advances (except balance transfers and cheques): all cash advances are subject to credit charges calculated on the average daily balance from the date they are made, at the annual interest rate in effect for the period covered by the account statement. Annual interest rate: 9.90% c) Cash advances by equal instalments: cash advances by equal instalments are subject to credit charges calculated from the date they are posted to the account statement to the date they are paid in full, at the annual interest rate in effect for the financing plan offered by Desjardins and chosen by the cardholder. of 19.90%. d) RRSP financing: RRSP financing is subject to credit charges calculated from the date it appears on the account statement to the date it is paid in full, at the annual interest rate in effect for the financing plan offered by Desjardins and chosen by the cardholder. During a deferred payment period – RRSP financing, only credit charges are payable. At the end of the deferred payment period – RRSP financing, payments of principal and credit charges are payable as determined at the time the RRSP financing was made. of 19.90%. e) Deferred payment financing: credit charges on purchases made by way of deferred payment financing are calculated from the payment due date shown on the account statement, until such purchases are paid in full. If the total amount of a purchase made by way of deferred payment financing is not paid in full on the due date shown on the account statement, it is automatically converted into a purchase by way of equal instalments financing, repayable by equal consecutive monthly payments (“converted balance”) as to principal and credit charges at the annual interest rate for the equal instalments financing plan offered by the merchant in effect at the date of conversion, by way of 12 equal monthly balance if the converted balance is less than $1,000, by way of 24 equal monthly payments if the converted balance is equal to or greater than $1,000 and less than $3,000, or by way of 36 equal monthly payments if the converted balance is equal to or greater than $3,000. Notice to this effect showing the number of payments and the monthly amount of the converted balance resulting from the conversion from deferred payment financing to equal instalments financing will be sent to the cardholder at least 30 days before the first payment due date. If, between the notice date and the due date shown on the account statement, the cardholder makes a partial payment only of a purchase made by way of deferred payment financing, the unpaid balance of such deferred purchase will be payable according the monthly amount set for the converted balance as shown on the notice until the balance is paid in full.

INTEREST RATES AND CALCULATION OF CREDIT CHARGES. a) Regular purchases: credit charges shall not apply to regular purchases appearing on the account statement provided that the balance of all indebtedness and accrued credit charges is paid in full by the due date shown on the account statement. Otherwise, credit charges are charged on regular purchases appearing on the account statement based on the average daily balance from the date of each purchase until the purchases are paid in full, at the annual interest rate in effect for the period covered by the account statement. However, if the total balance outstanding indicated on a subsequent account statement is paid in full by the due date shown, purchases not yet paid shall be exempt from credit charges for the period for which full payment has been made. Annual interest rate: 9.90%19.90% or 12.90% if the cardholder benefits from the Low Interest Rate option. b) Cash advances (except balance transfers and cheques): all cash advances are subject to credit charges calculated on the average daily balance from the date they are made, at the annual interest rate in effect for the period covered by the account statement. Annual interest rate: 9.90%19.90% or 12.90% if the cardholder benefits from the Low Interest Rate option. c) Cash advances by equal instalments: cash advances by equal instalments are subject to credit charges calculated from the date they are posted to the account statement to the date they are paid in full, at the annual interest rate in effect for the financing plan offered by Desjardins and chosen by the cardholder. of 19.90%. d) RRSP financing: RRSP financing is subject to credit charges calculated from the date it appears on the account statement to the date it is paid in full, at the annual interest rate in effect for the financing plan offered by Desjardins and chosen by the cardholder. During a deferred payment period – RRSP financing, only credit charges are payable. At the end of the deferred payment period – RRSP financing, payments of principal and credit charges are payable as determined at the time the RRSP financing was made. of 19.90%. e) Deferred payment financing: credit charges on purchases made by way of deferred payment financing are calculated from the payment due date shown on the account statement, until such purchases are paid in full. If the total amount of a purchase made by way of deferred payment financing is not paid in full on the due date shown on the account statement, it is automatically converted into a purchase by way of equal instalments financing, repayable by equal consecutive monthly payments (“converted balance”) as to principal and credit charges at the annual interest rate for the equal instalments financing plan offered by the merchant in effect at the date of conversion, by way of 12 equal monthly balance if the converted balance is less than $1,000, by way of 24 equal monthly payments if the converted balance is equal to or greater than $1,000 and less than $3,000, or by way of 36 equal monthly payments if the converted balance is equal to or greater than $3,000. Notice to this effect showing the number of payments and the monthly amount of the converted balance resulting from the conversion from deferred payment financing to equal instalments financing will be sent to the cardholder at least 30 days before the first payment due date. If, between the notice date and the due date shown on the account statement, the cardholder makes a partial payment only of a purchase made by way of deferred payment financing, the unpaid balance of such deferred purchase will be payable according the monthly amount set for the converted balance as shown on the notice until the balance is paid in full.

INTEREST RATES AND CALCULATION OF CREDIT CHARGES. a) Regular purchases: credit charges shall not apply to regular purchases appearing on the account statement provided that the balance of all indebtedness and accrued credit charges is paid in full by the due date shown on the account statement. Otherwise, credit charges are charged on regular purchases appearing on the account statement based on the average daily balance from the date of each purchase until the purchases are paid in full, at the annual interest rate in effect for the period covered by the account statement. However, if the total balance outstanding indicated on a subsequent account statement is paid in full by the due date shown, purchases not yet paid shall be exempt from credit charges for the period for which full payment has been made. Annual interest rate: 9.9010.90% b) Cash advances (except balance transfers and cheques): all cash advances are subject to credit charges calculated on the average daily balance from the date they are made, at the annual interest rate in effect for the period covered by the account statement. Annual interest rate: 9.9010.90% c) Cash advances by equal instalments: cash advances by equal instalments are subject to credit charges calculated from the date they are posted to the account statement to the date they are paid in full, at the annual interest rate in effect for the financing plan offered by Desjardins and chosen by the cardholder. of 19.90%. d) RRSP financing: RRSP financing is subject to credit charges calculated from the date it appears on the account statement to the date it is paid in full, at the annual interest rate in effect for the financing plan offered by Desjardins and chosen by the cardholder. During a deferred payment period – RRSP financing, only credit charges are payable. At the end of the deferred payment period – RRSP financing, payments of principal and credit charges are payable as determined at the time the RRSP financing was made. of 19.90%. e) Deferred payment financing: credit charges on purchases made by way of deferred payment financing are calculated from the payment due date shown on the account statement, until such purchases are paid in full. If the total amount of a purchase made by way of deferred payment financing is not paid in full on the due date shown on the account statement, it is automatically converted into a purchase by way of equal instalments financing, repayable by equal consecutive monthly payments (“converted balance”) as to principal and credit charges at the annual interest rate for the equal instalments financing plan offered by the merchant in effect at the date of conversion, by way of 12 equal monthly balance if the converted balance is less than $1,000, by way of 24 equal monthly payments if the converted balance is equal to or greater than $1,000 and less than $3,000, or by way of 36 equal monthly payments if the converted balance is equal to or greater than $3,000. Notice to this effect showing the number of payments and the monthly amount of the converted balance resulting from the conversion from deferred payment financing to equal instalments financing will be sent to the cardholder at least 30 days before the first payment due date. If, between the notice date and the due date shown on the account statement, the cardholder makes a partial payment only of a purchase made by way of deferred payment financing, the unpaid balance of such deferred purchase will be payable according the monthly amount set for the converted balance as shown on the notice until the balance is paid in full.

INTEREST RATES AND CALCULATION OF CREDIT CHARGES. a) Regular purchases: credit interest charges shall not apply to regular purchases appearing on the account statement provided that the statement’s total balance of all indebtedness and accrued credit charges is paid in full by the due date shown on the account statement. Otherwise, credit charges are charged on the regular purchases appearing on the account statement shall be subject to interest charges based on the average daily balance from the date of each purchase until the purchases are have been paid in full, at the annual interest rate in effect for during the period covered by the account statement. However, if the total balance outstanding indicated on a subsequent account statement is paid in full by the due date shown, purchases not yet paid shall be exempt from credit interest charges for the period for which full payment has been made. Annual interest rate: 9.90%19.9% or 12.9% if the cardholder benefits from the Low Interest Rate option. b) Cash advances (except balance transfers and cheques): : all cash advances and cheques are subject to credit interest charges calculated based on the daily average daily balance starting from the date they are made, at the annual interest rate in effect applicable for the period covered by the account statement. Annual interest rate: 9.90%19.9% or 12.9% if the cardholder benefits from the Low Interest Rate option. c) Cash advances by equal instalments: cash advances by equal instalments are subject to credit interest charges calculated from the date they are posted to the account statement to the date they are paid in full, at . These charges are based on the annual interest rate in effect for the financing plan offered by Desjardins the Federation and chosen by the cardholder. of 19.90cardholder, not exceeding 19.9%. d) RRSP financing: RRSP financing is subject to credit charges interest charges, calculated from as of the date it appears of its appearance on the account statement to the date it is until fully paid in fulland that, at the annual interest rate in effect force for the this financing plan offered by Desjardins the Federation and chosen by the cardholder. During a deferred payment period – RRSP financing, only credit interest charges are payable. At the end expiry date of the deferred payment period – RRSP financing, payments of principal and credit interest charges are payable as determined at the time the RRSP financing was made. of 19.90cardholder, not exceeding 19.9%. e) Deferred payment financing: credit interest charges on purchases made by way of deferred payment financing purchases are calculated calculated, starting from the payment due date shown on the account statement, until such time as purchases are paid in full. If the total amount payment of a purchase made by way of deferred payment financing purchase is not paid made in full on at the due date shown appearing on the account statement, it is automatically converted into a purchase by way of payments under the equal instalments financingprogram. The payment then becomes payable, repayable by equal consecutive monthly payments in capital and interest charges (the “converted balance”) as to principal and credit charges at the annual interest rate for the equal instalments applicable to this financing plan offered by the merchant in effect program at the date of conversion, by way of into 12 equal monthly balance payments if the converted balance is less than $1,000, by way of into 24 equal monthly payments if the converted balance is equal to or greater than $1,000 and less than $3,000, or by way of and into 36 equal monthly payments if the converted balance is equal to or greater than $3,000. Notice to this effect showing the number of payments and the monthly amount of the converted balance resulting from the conversion from of the deferred payment financing to purchase into an equal instalments financing will be purchase is sent to the cardholder at least 30 days before the first payment due date. If, between the notice date and on or before the due date shown on the account statement, the cardholder makes a partial part payment only of a purchase made by way of the deferred payment financingpurchase, the unpaid balance of such deferred purchase will be remaining becomes payable according at the monthly amount set for the converted balance as shown on the notice until the balance is paid in full. maximum of 19.9%. f) Equal instalment financing: purchases by equal instalments are subject to interest charges calculated starting from the date they are posted to the account statement until they are paid in full, at the annual interest rate in effect for the financing plan offered by the merchant. maximum of 19.9%. g) Deferred equal instalment financing: purchases by deferred equal instalment financing are subject to interest charges calculated from the end of the deferred payment period determined at the time of purchase and shown on the account statement, until such time as purchases are paid in full at the annual interest rate in effect for the financing plan offered by the merchant. maximum of 19.9%. h) Multiple purchases by equal instalments: multiple purchases by equal instalments are subject to interest charges, calculated from the expiry date of the deferred payment period – multiple purchases until they are paid in full, at the annual interest rate in force for the financing plan offered by the merchant. exceeding 19.9%. In all cases, any reversal of payment and any dishonoured payment made by cheque or by preauthorized debit will generate interest charges at the applicable rate as established in this section, as if the payment had never been made. TABLE OF EXAMPLES OF CREDIT CHARGES FOR A 30-DAY BILLING CYCLE ANNUAL INTEREST RATE AVERAGE DAILY BALANCE $ 100 $ 500 $ 1000 Regular Interest Rate 19.90% $ 1.64 $ 8.18 $ 16.36 Low Interest Rate 12.90% $ 1.06 $ 5.30 $ 10.60 Equal Instalments Financing 19.90% $ 1.64 $ 8.18 $ 16.36 10. LATE PAYMENT CHARGES Should the cardholder fail to make the minimum payment required on the due date shown on his account statement under the heading Minimum Payment Due, he agrees to pay interest charges on any and all unpaid amounts (as defined in Section

INTEREST RATES AND CALCULATION OF CREDIT CHARGES. a) Regular purchases: credit charges shall not apply to regular purchases appearing on the account statement provided that the statement’s total balance of all indebtedness and accrued credit charges is paid in full by the due date shown on the account statement. Otherwise, credit charges are charged on the regular purchases appearing on the account statement shall be subject to credit charges based on the average daily balance from the date of each purchase until the purchases are have been paid in full, at the annual interest rate in effect for during the period covered by the account statement. However, if the total balance outstanding indicated on a subsequent account statement is paid in full by the due date shown, purchases not yet paid shall be exempt from credit charges for the period for which full payment has been made. Annual interest rate: 9.9012.90 % b) Cash advances (except balance transfers and cheques): all cash advances are subject to credit charges calculated based on the daily average daily balance starting from the date they are made, at the annual interest rate in effect applicable for the period covered by the account statement. Annual interest rate: 9.9012.90 % c) Cash advances by equal instalments: cash advances by equal instalments are subject to credit charges calculated from the date they are posted to the account statement to the date they are paid in full, at . These charges are based on the annual interest rate in effect for the financing plan offered by Desjardins and chosen by the cardholder. of Annual interest rate: based on the financing plan offered by Desjardins and chosen by the cardholder, not exceeding 19.90%. d) RRSP financing: RRSP financing is subject to credit charges charges, calculated from as of the date it appears of its appearance on the account statement to the date it is until fully paid in fulland that, at the annual interest rate in effect force for the this financing plan offered by Desjardins and chosen by the cardholder. During a deferred payment period – RRSP financing, only credit charges are payable. At the end expiry date of the deferred payment period – RRSP financing, payments of principal and credit charges are payable as determined at the time the RRSP financing was made. of Annual interest rate: based on the financing plan offered by Desjardins and chosen by the cardholder, not exceeding 19.90%. e) Deferred payment financing: credit charges on purchases made by way of deferred payment financing purchases are calculated calculated, starting from the payment due date shown on the account statement, until such time as purchases are paid in full. If the total amount payment of a purchase made by way of deferred payment financing purchase is not paid made in full on at the due date shown appearing on the account statement, it is automatically converted into a purchase by way of payments under the equal instalments financingprogram. The payment then becomes payable, repayable by equal consecutive monthly payments in capital and credit charges (the “converted balance”) as to principal and credit charges at the annual interest rate for the equal instalments applicable to this financing plan offered by the merchant in effect program at the date of conversion, by way of into 12 equal monthly balance payments if the converted balance is less than $1,000, by way of into 24 equal monthly payments if the converted balance is equal to or greater than $1,000 and less than $3,000, or by way of and into 36 equal monthly payments if the converted balance is equal to or greater than $3,000. Notice to this effect showing the number of payments and the monthly amount of the converted balance resulting from the conversion from of the deferred payment financing to purchase into an equal instalments financing will be purchase is sent to the cardholder at least 30 days before the first payment due date. If, between the notice date and on or before the due date shown on the account statement, the cardholder makes a partial part payment only of a purchase made by way of the deferred payment financingpurchase, the unpaid balance of such deferred purchase will be remaining becomes payable according at the monthly amount set for the converted balance as shown on the notice until the balance is paid in full. Annual interest rate: in accordance with the financing plan offered by the merchant, up to a maximum of 19.90%. f) Equal instalment financing: purchases by equal instalments are subject to credit charges calculated starting from the date they are posted to the account statement until they are paid in full, at the annual interest rate in effect for the financing plan offered by the merchant. Annual interest rate: in accordance with the financing plan offered by the merchant, up to a maximum of 19.90%. g) Deferred equal instalment financing: purchases by deferred equal instalment financing are subject to credit charges calculated from the end of the deferred payment period determined at the time of purchase and shown on the account statement, until such time as purchases are paid in full at the annual interest rate in effect for the financing plan offered by the merchant. Annual interest rate: in accordance with the financing plan offered by the merchant, up to a maximum of 19.90%. h) Multiple purchases by equal instalments: multiple purchases by equal instalments are subject to credit charges, calculated from the expiry date of the deferred payment period until they are paid in full, at the annual interest rate in force for the financing plan offered by the merchant. Annual interest rate: in accordance with the financing plan offered by the merchant and depending on the balance of the multiple purchases at the expiry of the deferred payment period – multiple purchases, without ever exceeding 19.90%. i) Cheques and balance transfers: all cheques and balance transfers are subject to credit charges based on the daily average balance of the cheques and balance transfers, starting from the date the cheque is cashed or the balance is transferred, at the annual interest rate in effect for the period covered by the account statement. Annual interest rate: 12.90 %. If the cheques provided to the cardholder or Xxxxxxxxxx’x balance transfer offer provides for the application of a lower annual interest rate, this other rate will apply to the cheques and balance transfers only during the period indicated by Desjardins to the cardholder (the “promotional period”). At the expiry of the promotional period, the applicable annual interest rate returns to 12.90 %. In all cases, any reversal of payment and any dishonoured payment made by cheque or by preauthorized debit will generate credit charges at the applicable rate as established in this section, as if the payment had never been made. ANNUAL INTEREST RATE AVERAGE DAILY BALANCE $100 $500 $1,000 Regular Interest Rate 12.90 % $1.06 $5.30 $10.60 Cash advance 19.90% $1.64 $8.18 $16.36 We calculate interest according to the annual interest rate in effect, as set out in the Consumer Protection Act and the Regulation Respecting the Application of the Consumer Protection Act.