Should Alberta Water be for Sale?

It Already is and They’re Called Crops

May 12, 2011 Calgary

Recent controversy surrounding the idea of some type of water trading system in Alberta misses
the point somewhat in that the prairie provinces already sell millions of tons of water each year
in the form of crops. The rough rule of thumb is that 1 ton of wheat requires 1,000 tons of water
to produce. As the prairies are massive net exporters of wheat, they are effectively exporting and
selling water in the more cost effective form of crops.

Agcapita is a Calgary based private equity firm which manages RRSP and TFSA eligible
farmland investment funds and is part of a family of funds focusing on commodity linked, hard
asset investments with over $100 million in assets under management. Agcapita’s investment
team has over 50 years of investment and finance experience and its field team has over 150
years of direct farming experience.

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For further information please contact:

Stephen Johnston - Partner

Agcapita Partners LP
400, 2424 – 4th Street SW
Calgary, Alberta T2S 2T4
Tel: +1.403.218.6506
Fax: +1.403.266.1541
Email: sjohnston@agcapita.com
Web: www.agcapita.com