Company Overview &

Quarterly Update
February 2017
 Disclaimer

This presentation contains forward-looking information that reflects managements current expectations related to the future
financial performance, plans and operating results for People Corporation. All statements included in this presentation, other than
statements of historical facts, may constitute forward-looking information, including, without limitation, statements concerning
managements expectations related to the future financial position, possible or assumed future prospects or results, business
strategy, proposed acquisitions, budgets, projected costs and plans and objectives of, or involving People Corporation. Potential
investors can identify many of these statements by looking for words such as believe, expects, will, intends, projects,
anticipates, estimates, plans, may, would or similar words or the negative of these terms. There can be no assurance
that the plans, intentions or assumptions upon which these forward-looking statements are based will be achieved.
Forward-looking statements are subject to risks and uncertainties, which give rise to the possibility that People Corporations
assumptions in this presentation may not be correct and its expectations and plans may not be achieved. Although management
believes that the forward-looking statements in this presentation are based on information and assumptions that are reasonable,
current and complete, there can be no assurance that such expectations will prove to be correct. Some of the factors which could
affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained
in this presentation, include, but are not limited to: our ability to maintain profitability and manage growth; strong competition
from other consultants; changes in the current legislation resulting in significant competition from the banking industry; failure of
information systems and technology; dependence on key clients; seasonality of revenues and the resulting possible impairment on
working capital; reliance on key professionals; availability of additional financing on favourable terms; availability of suitable
acquisitions, and if available, on terms that are favourable to People Corporation; change in general economic conditions; and
other risks as set out in People Corporations current Annual Information Form which can be found at www.sedar.com and which
potential investors are urged to read.
The forward-looking statements included in this presentation are based on factors and assumptions as of the date of this
presentation. People Corporation does not undertake to update such forward-looking statements to reflect new information, future
events or otherwise, except as provided by law.
This presentation is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an
advertisement or a public offering of securities. Under no circumstances should the information contained herein be considered an
offer to sell or a solicitation of an offer to invest in securities.
This presentation has not been approved or disapproved of by any securities regulatory authority nor has any authority or
commission passed upon the accuracy or adequacy of this presentation. Any representation to the contrary is unlawful.

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 Industry Overview

The group benefits industry is a $35+ billion market increasingly suited for scale,
innovation, customization and cost effective providers;

Employers continue to see the value of providing group benefits to attract, retain and
reward their workforce;

Canadas average benefit cost per capita is expected to grow > 10% through 2019

The industry is recession resistant and inflation proof

The rising cost of healthcare and the changing demographics in the workplace have
created a demand for consulting solutions

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 Overview of People Corporation

People Corporation is a leading provider of

innovative group benefits, group retirement and HR
consulting services in Canada, with the industrys
best consultants delivering customized solutions
Among the fastest growing companies in the group
benefits, group retirement and HR consulting sectors
National servicing capabilities:
~600 professionals and staff in 35 offices across 9
provinces
Broad and deep client base
~$1.3B in premiums
~$6.9B in pension assets under administration
~5,100 clients across a wide range of industries
Extremely strong supplier relationships People Corporation now has 600 professionals and staff
Largest independent customer for some of the leading in 35 offices and satellite offices across 9 provinces
insurance companies
Product line diversification
Innovative and proprietary product/service offerings
existing and in various stages of development
Strong third party benefits administration platform
Sophisticated operating platform for coordination
and delivery of product/service offering

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 Operational Model

The corporate resources, services and support that People Corporation provides has made it
a partner-of-choice for local/regional firms in sectors that are consolidating

Corporate
Shared Services Shared Support
Business Development Accounting and Finance
Integrated Solutions Financial Reporting
Group Retirement Solutions Technology
Concierge Client Services Legal
Marketing and Branding Corporate Development
Product Development
Wellness
Internal Talent Management

Group Benefits & Pensions Third Party Administration HR Consulting

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 Business Model and Economics

Group Benefits Third Party Administration (TPA) HR Consulting

Employees Employees

Insured coverage; Insured Self-insured

Administration coverage coverage;
services Administration
services

Client Client Client

Self-insured claim
Insured reimbursement;
Advice Advice Advice Fees
premiums Administration fees;
Insured premiums

PC Consultant PC Consultant PC TPA PC Consultant

Insured
Commission Commission
premiums

Insurance Carrier Insurance Carrier

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 PC Operating and Acquisition Model
People Corporations Operating and Acquisition Models position the company for continued
growth while providing cash flow protection against economic, industry, company and
acquisition risk factors

Operating Model Acquisition Model

Attractive Revenue Signification proportion of

Composition recurring revenue Protected Preference on distribution of
Cash Flow EBITDA

Strong Industry Healthcare inflation

Fundamentals Growing importance of benefits Sound Deal structure keeps vendors
Transition retained, engaged and
Client, industry, geographic, Strategy motivated
Risk Diversification
business line
Flexibility Ability to customize structure to
New Product Line Pension and retirement practice Provides Deal meet Vendor objectives
Growth
Individual financial services Flow increases ability to win deals
Opportunities

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 Financial Profile

Consistently strong financial results, with extraordinary growth

Revenue growth of $73M since fiscal 2009, to $86.8M for the twelve months ending November 30, 2016
Significant growth in Adjusted EBITDA, which has increased 12.1x since fiscal 2009
Ongoing trend of posting year-over-year increases in revenue and Adjusted EBITDA
Strengthening margins as operating leverage of past investments materializes
Substantial cash flow generation, used to fund growth initiatives and maintain strong balance
sheet

Revenue EBITDA
$86.8
$79.8 $14.1 $14.6

$49.3 $9.2
$42.5 $7.5
$32.9
$27.2
$20.7 $24.4 $4.3
$13.6 $2.3 $2.7
$1.2 $1.9

2009 2010 2011 2012 2013 2014 2015 2016 LTM 2009 2010 2011 2012 2013 2014 2015 2016 LTM
Q1-17 Q1-17

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 Financial Position
At of November 30, 2016, total of $39M of undrawn credit availability on PCs $61M credit facility

At November 30, 2016

Authorized Outstanding Available

Revolving Loan 5,000,000 - 5,000,000

Term Loan 22,215,000 20,548,875 -
Acquisition Loan 34,000,000 - 34,000,000
61,215,000 20,548,875 39,000,000
Acquisition Accordian 15,000,000 - 15,000,000
Total 76,215,000 20,548,875 54,000,000

Acquisition Revolver may be increased by an additional $15M through an accordion feature, taking total credit availability under the
facility to $76M

On October 6, 2016 the company closed a Bought Deal Private Placement Financing, providing gross proceeds of approximately
$20.1M which will be used to fund growth initiatives and for general corporate purposes. These proceeds have been applied to
reduce PCs revolving Acquisition Loan facility until such time as they are used.

In addition to above credit availability, cash balances of $10.5M as at November 30, 2016
Current shares outstanding of approximately 50.8M, implying a market capitalization of ~$220M
based on recent trading prices
Leadership team is highly aligned with investors, with ownership of approximately 20% among
insiders, directors and executive officers

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 Recent Highlights
Two more major recognitions in the last 12 months:
2016 PROFIT 500 (fourth consecutive year), the definitive ranking of
Canada's Fastest-Growing Companies by PROFIT Magazine;
2016 TSX Venture 50 (second consecutive year), which represents the top 10
companies listed on the TSX Venture Exchange in each of five major industry
sectors

Invested in leadership in the corporate office and at the practice level; restructured senior management team
to position company for ongoing growth
Dennis Stewner joined in April 2016 as Chief Financial Officer and Chief Operating Officer, taking on an increased scope
of operational responsibilities
Other previously announced executive appointments over the past two years include:
Bonnie Chwartacki previously Executive Vice President, assumed the role of President
Brevan Canning previously Vice President Finance, assumed the role of Executive Vice President and Group Head
Group Benefit Solutions
Lisa Villani joined August 2015 as Executive Vice President, Consulting Solutions (Brokerage Division)

Enhanced the Board of Directors with the appointment of Eric Stefanson, who brings significant experience in
government, industry and public practice

Continued to develop and roll-out unique product offerings

Expanded group benefits and HR consulting service offerings in the Saskatchewan market
Enhanced stop-loss product offering for clients on the TPA platform
myWellness product offering focused on the student market

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 Investment Highlights
Favourable underlying industry fundamentals and business characteristics
Large and growing sectors, with current dynamics creating consolidation opportunity
Recession-resistant product/service with natural inflationary growth of 5+%
Substantial portion of revenues are recurring in nature, with typical customer persistency of 8-10 yrs

One of Canada's largest independent Third-Party Administration businesses and the fastest-
growing group benefits, group retirement and human resources consulting services
organization in the country
National servicing capability with ~600 professionals across Canada
Broad client base, with ~5,100 clients diversified across sector, geography and size
Significant momentum in acquisition strategy, with eight transactions completed in last two fiscal years

Consistently strong financial results, with extraordinary growth

Revenues have increased more than six-fold since fiscal 2009, with Adjusted EBITDA increasing 12.1x
Impact of significant investments in people and technology is being realized, with a significant portion
of increased revenue flowing directly to bottom line, given high operating leverage
Strong cash flow generation, healthy balance sheet and ready access to capital to continue to execute
organic and acquisition-based growth strategies

Experienced management team with a track record of successfully building businesses

Diverse experience and complementary skill sets
Strong alignment of interests given high degree of insider ownership

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