MANAGEMENT'S  RESPONSIBILITY FOR FINANCIAL REPORTING The preparation and presentation of the consolidated financial statements of METRO INC. and the other financial  information contained in this Annual Report are the responsibility of management. This responsibility is based on a  judicious choice of appropriate accounting principles and policies, the application of which requires making estimates  and  informed judgements. It also includes ensuring that the financial information in the Annual Report is consistent with  the consolidated financial statements. The consolidated financial statements were prepared in accordance with  International Financial  Reporting  Standards and  were approved  by  the Board of Directors. METRO INC. maintains accounting systems and internal controls over the financial reporting process which, in the  opinion of management, provide reasonable assurance regarding the accuracy ,  relevance and reliability of financial  information  and  the  well-ordered,  ef ficient  management  of the Corporation's affairs. The  Board of Directors fulfills its duty to oversee management in the performance of its financial reporting responsibilities  and to review the consolidated financial statements and  Annual  Report, principally through its  Audit  Committee. This  Committee  is comprised solely of directors who are independent of the Corporation and is also responsible for making  recommendations  for the nomination of external auditors. Also, it holds periodic meetings with members of management  as  well as internal and external auditors to discuss internal controls, auditing matters and financial reporting issues. The  external  and internal auditors have access to the Committee without management. The Audit Committee has reviewed  the  consolidated financial statements and Annual Report of METRO INC. and recommended their approval to the Board  of  Directors. The  enclosed consolidated financial statements were audited by Ernst & Young LLP and their report indicates the extent  of  their audit  and their  opinion on the  consolidated  financial  statements. December 12, 2014 François Thibault Senior  V ice-President, Chief  Financial  Of ficer and Treasurer Eric  R. La Flèche  President  and  Chief  Executive Officer  - 36 -