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Valener Inc (VNR.TO)

VNR.TO on Toronto Stock Exchange

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Summary

Name Age Since Current Position

Pierre Monahan

2011 Independent Chairman of the Board

Mary-Ann Bell

51 2014 Independent Director

Nicolle Forget

2010 Independent Director

Francois Gervais

57 2010 Independent Director

Real Sureau

2010 Independent Director

Caroline Warren

IR Contact Officer

Biographies

Name Description

Pierre Monahan

Mr. Pierre Monahan is Independent Chairman of the Board of Valener Inc. Mr. Pierre Monahan has been a corporate director and business management consultant since 2008. Previously, he was President of Bowater Canadian Forest Products Inc. and Executive Vice President, Building Products at Bowater Inc. until his departure in 2007. Mr. Monahan received his bachelor’s degree in commerce from HEC Montréal in 1968. Over the course of his career, he has held a number of executive positions in the forestry industry. He has also occupied financial management positions in major corporations, including Vice President, Finance and Treasury, and Executive Vice President, Business Expansion, at Tembec Inc.; Vice President and CFO of Domtar Inc. and President and CEO of a spin-off company, Alliance Forest Products Inc. Mr. Monahan has sat on the boards of the Forest Products Association of Canada, the Pulp and Paper Research Institute of Canada (Paprican), the Forintek Canada Wood Products Research Institute and the FERIC Forestry Research Institute, and has served as chairman of the board of each of these organizations. He was also a member of the boards of Uniboard Canada Inc., Équipements Comact Inc. and Fortress Paper Ltd, as well as of AXA Insurance (Canada), for which he served as chairman of the audit committee and a member of the investment committee until Intact Insurance took over the company in June 2011. In 2004, Mr. Monahan was awarded an honorary doctorate in forestry science from Université Laval, Québec, and in 2006, he received the Pulp and Paper Excellence Award (PCPP) from the Québec Forest Industry Council. Mr. Monahan is a member of the GMi Board and is chairman of its Audit Committee and Occupational Health and Safety and Environment Committee. He is also chairman of Solifor Inc. and the Centraide of Greater Montreal Foundation.

Mary-Ann Bell

Ms. Mary-Ann Bell is Independent Director of Valener Inc. Ms. Mary-Ann Bell has worked in the telecommunications sector for over 30 years. An industrial engineering graduate from the École Polytechnique de Montréal (1982) and holding a Master’s of Science from the Institut National de recherche scientifique (1986), she began her career at Bell Canada in 1982 where she held various operational and financial positions, including that of Senior Vice President, Customer Service from 2003 to 2006; in 2006, she participated in the setting up of Bell Aliant, of which she has been until recently Senior Vice President for Québec and Ontario. A certified corporate director and member of the Institute of Corporate Directors, Ms. Bell has sat on various boards of directors for over 13 years and has several years of audit committee experience. She has chaired the boards of the Montreal Women’s Y, Nordia inc., Proximedia inc. and the Institut international des Télécommunications and has sat on the boards of Centraide and the International Women’s Forum. She is chair of the Institut national de recherche scientifique (INRS), a research university which is part of the Universités du Québec network, is a member of the board of Cominar inc. (of which she is also a member of the audit committee and the compensation committee), is a member of the board of Nav Canada (of which she is also a member of the audit committee and pension fund committee), and is a member of the board of TNM (Théâtre du Nouveau Monde).

Nicolle Forget

Ms. Nicolle Forget is Independent Director of Valener Inc. She is a graduate of the Université du Québec à Montréal, HEC Montréal and the Université de Montréal, Ms. Nicolle Forget retired from the Québec Bar in 2011. She was a member of a number of administrative tribunals and boards of directors, including the boards of Hydro-Québec and the Economic Council of Canada. She was a director of GMi. from January 1997 to March 2014. She is a member of the boards of directors of The Jean Coutu Group (PJC) Inc., the Collège des administrateurs de sociétés and the Fondation Lionel-Groulx.

Francois Gervais

Mr. Francois Gervais is Independent Director of Valener Inc..Mr. François Gervais is a corporate director. He was an investment banker at CIBC World Markets from 1977 to 2003 and at RBC Capital Markets from 2003 to 2008. During a career in corporate finance that has spanned more than 30 years, Mr. Gervais has been involved in numerous share and bond issues and merger and acquisition transactions for companies in a variety of industries. He holds a Bachelor of Business Administration from Université Laval and an MBA from the Harvard Business School. He also holds the CPA (CA) and ICD.D designations. He was a director of Nurun Inc. from 2003 to 2008. Since May 2014, Mr. Gervais is a director of Groupe Dessau inc., and sits also on the Audit Committee and the Human Resources and Corporate Governance Committee of this company. Mr. Gervais is a director of GMi and chairs its Pension Committee.

Real Sureau

Mr. Real Sureau is Independent Director of Valener Inc. Mr. Réal Sureau is a chartered professional accountant. Over the course of his career, positions held by Mr. Sureau have included Vice-President, Finance with Forex and the Canam Manac Group. He was also President of the Ordre des comptables agréés du Québec in 1995-1996 and Vice-President of the Patented Medicine Prices Review Board from 1995 to 2005. He is a director of Desjardins Financial Security Life Assurance Company. He is a member of the Disciplinary Council of the Ordre des comptables professionnels agréés du Québec. From January 1987 to July 1991 and from January 1995 to February 2013, he was a director of GMi. He was also a member of the board of directors of Services Financiers Fonds FMOQ inc. from October 2004 to May 2014 and member of the Employment Insurance Board of Referees from November 2004 to June 2013.

Caroline Warren

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