EQ Inc. — Regulatory Filings 2021

Feb 12, 2021

Osler, Hoskin & Harcourt LLP Box 50, 1 First Canadian Place Toronto, Ontario, Canada M5X 1B8 416.362.2111 MAIN 416.862.6666 FACSIMILE

Calgary

Toronto

Montréal

Ottawa

New York

February 11, 2021

Ontario Securities Commission Alberta Securities Commission British Columbia Securities Commission Manitoba Securities Commission New Brunswick Financial and Consumer Services Commission Securities Commission of Newfoundland and Labrador Nova Scotia Securities Commission Office of the Superintendent of Securities of Prince Edward Island Saskatchewan Financial Services Commission

Dear Sirs/Mesdames:

Re: EQ Inc. – Short Form Prospectus dated February 11, 2021

We refer to the short form prospectus dated February 11, 2021 (the “ Prospectus ”) of EQ Inc. (the “ Corporation ”) in respect of the distribution by the Corporation of common shares of the Corporation.

We hereby consent to the reference to our firm on the cover page and under the heading “Interest of Experts” in the Prospectus and to the use of our firm name and our opinion under the heading “Eligibility for Investment” in the Prospectus.

We have read the Prospectus and have no reason to believe that there are any misrepresentations in the information contained therein that are derived from our opinion referred to above or that are within our knowledge as a result of the services that we performed in connection with such opinion.

Yours very truly,

“Osler, Hoskin & Harcourt LLP”

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