(1) In this section,
“equivalent historical non-GAAP financial measure” means a non-GAAP financial measure that is historical information and has the same composition as a non-GAAP financial measure that is forward-looking information;
“SEC issuer” has the meaning ascribed to it in National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards.
(2) An issuer must not disclose a non-GAAP financial measure that is forward-lookinginformation in a document unless all of the following apply:
(a) the document discloses an equivalent historical non-GAAP financial measure;
(b) the non-GAAP financial measure that is forward-looking information is labelled using the same label used for the equivalent historical non-GAAP financial measure;
(c) the non-GAAP financial measure that is forward-looking information ispresented with no more prominence in the document than that of the equivalent historical non-GAAP financial measure;
(d) in proximity to the first instance of the non-GAAP financial measure that is forward-looking information in the document, the document discloses, directly or by incorporating it by reference as permitted under section 5, a description of any significant difference between the non-GAAP financial measure that is forward-looking information and the equivalent historical non-GAAP financial measure.
(3) Subsection (2) does not apply if the disclosure is made
(a) by an SEC issuer, and
(b) in compliance with Regulation G under the 1934 Act.