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## NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) 

The following range of inputs and assumptions were used in the trinomial option pricing model in calculating the fair value of each grant of options as follows: 

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The expected life of the share options and SARs is based on historical data and current expectations and is not necessarily indicative of exercise patterns that may occur. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may also not necessarily be the actual outcome. 

The following table illustrates the number (“No.”) and weighted average exercise prices (“WAEP”) of, and movements in, share options during the period: 

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(1) 2013 includes 79,490 options exercised for 58,351 shares via the cashless exercise method, and 98,590 options exercised for 98,590 shares, totaling 156,941 shares received for exercise of options. In 2012, there were no options exercised via the cashless exercise method. 

The weighted average fair value of options granted during the fifty-two weeks ended December 28, 2013, was CAD$34.77 (fifty-two weeks ended December 29, 2012: CAD$18.84). 

The range of exercise prices for options outstanding at the end of the period was CAD$6.90 – CAD$34.77 (December 29, 2012: CAD$6.90 – CAD$19.68). 

