CannTrust Quantitative Equity Research Report | Release: 15 Jan 2019, 21:17 UTC

The quantitative report on equities consists of data, statistics and quantitative
equity ratings on equity securities. Morningstar, Inc.’s quantitative equity
ratings are forward looking and are generated by a statistical model that is
based on Morningstar Inc.’s analyst-driven equity ratings and quantitative
statistics.

Given the nature of the quantitative report and the quantitative
ratings, there is no one analyst in which a given report is attributed to; however,
Mr. Lee Davidson, Head of Quantitative Research for Morningstar, Inc., is
responsible for overseeing the methodology that supports the quantitative
equity ratings used in this report.

As an employee of Morningstar, Inc., Mr.
Davidson is guided by Morningstar, Inc.’s Code of Ethics and Personal Securities
Trading Policy in carrying out his responsibilities.