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About Macquarie

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MPT» About MPIC» Management & directors

About MPIC

Management & directors

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Management

Michael Bernstein MBA, CFA®, BA Economics: President and Chief Executive Officer

Michael Bernstein is the President and Chief Executive Officer of MPIC. He is also the head of Macquarie Infrastructure and Real Assets Canada Ltd. and a senior managing director of Macquarie Group Limited. From 2005 to 2009, Mr. Bernstein served as head of the infrastructure and utilities advisory practice for Macquarie Capital Markets Canada Ltd.

Prior to joining Macquarie, Mr. Bernstein was a senior member of the Power & Utilities Group at CIBC World Markets, where he worked for nine years. He holds a BA in Economics and Philosophy from Dartmouth College, an MBA from the University of Western Ontario and holds the Chartered Financial Analyst designation.

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Michael Smerdon MBA, CFA®, B.Comm.: Executive Vice President, Chief Financial Officer and Secretary

Michael Smerdon is Executive Vice President, Chief Financial Officer and Secretary of MPIC. Mr. Smerdon joined Macquarie Group Limited in 1998 and has extensive asset management and investment experience in the North American infrastructure sector, including roads, transportation, electric utilities, ports and social infrastructure. He is also a Managing Director of Macquarie Infrastructure and Real Assets Canada Ltd.

Mr. Smerdon holds a Bachelor of Commerce degree from the University of British Columbia and a Master of Business Administration degree from the Richard Ivey School of Business at the University of Western Ontario. He also holds the Chartered Financial Analyst designation.

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Stuart M. Miller MBA, JD: Executive Vice President and General Counsel

Mr. Miller is the Executive Vice President and General Counsel of MPIC. He is also a Senior Vice President of Macquarie Infrastructure and Real Assets Canada Ltd. and an associate director of Macquarie Group Limited. Prior to joining Macquarie in 2006, Mr. Miller was the Executive Director, Corporate Services and Compliance of Fairmont Hotels & Resorts Inc. and was a partner in the corporate finance and M&A group of McCarthy Tétrault LLP.

Mr. Miller holds a combined MBA/JD degree from Osgoode Hall Law School and the Schulich School of Business and has extensive experience in corporate finance, M&A, corporate governance and securities law.

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Directors

Derek Brown: Chairman and Independent Director

Mr. Brown was Professor of Finance (adjunct) at the University of Toronto from 1996 to 2005. Mr. Brown spent 26 years as a Vice President and Director of RBC Dominion Securities. From 1997 to 2003, he was a Commissioner of the Ontario Securities Commission. He currently serves as a Director of Sixty Split Corp. and SNP Corp.

Mr. Brown is also a member of the finance committee of the Canadian Opera Foundation.

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Patrick J. Lavelle: Independent Director

Mr. Lavelle is the Chairman and Chief Executive Officer of Patrick J. Lavelle and Associates, a strategic management consulting firm that he established in 1991.

Mr. Lavelle currently serves as a Director of the Ontario Financing Authority and as a Trustee of Retrocom Mid-Market Real Estate Investment Trust. He was previously the Chairman and Chief Executive Officer of Unique Broadband Systems Inc., Chairman of Export Development Canada and Chairman of the Business Development Bank of Canada.

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François R. Roy: Independent Director

Mr. Roy most recently served as Vice-Principal (Administration and Finance) at McGill University. Mr. Roy serves on the Boards of the Caisse de dépot et placement du Québec, Transcontinental Inc., SFK Pulp Income Fund and Noranda Income Fund. He has also served on the boards of several not-for-profit organizations, including the Montreal Museum of Fine Arts and the Canadian Centre for Architecture.

From March 2000 to May 2003, Mr. Roy served as the Chief Financial Officer of Telemedia Corporation.

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V. James Sardo: Independent Director

Mr. Sardo is a Director of New Flyer Industries Inc. and Consolidated Thompson Iron Ore Mines Limited. Previous directorships include: Hydrogenics Corporation; Countryside Power Income Fund, where he served as Chairman; UE Waterheater Income Fund; Custom Direct Income Fund; SonnenEnergy Corp and Northstar Healthcare Inc.

From 2004 to 2005, Mr. Sardo served as interim Chief Executive Officer and a Director of Royal Group Technologies. He was formerly President, Canadian Operations of Moore Corporation Limited and President and Chief Executive Officer of SMK Speedy International Inc. He is also the former Chairman and Chief Executive Officer of Firestone Canada Inc. and the President of Firestone Industrial Products Company. He is a member of the Institute of Corporate Directors and holds the ICD.D designation.

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Stephen Mentzines: Manager-appointed Director

Mr. Mentzines is a Senior Managing Director of Macquarie Group Limited and is responsible for the Macquarie Infrastructure and Real Assets division in North America. He previously served as the division’s global Chief Operating Officer with responsibility for developing and supporting new funds around the world.

Mr. Mentzines joined Macquarie in 1998 and has more than 30 years of experience, including 20 years in the financial services and funds management industry. He is also Alternate Chair of Macquarie Infrastructure Company, which is listed on the New York Stock Exchange.

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