Determine the major risks faced by Shaw communication inc and analyse whether they hedges it's risks. collect data and the stock return of the firm. Test statistical relationship between the changes in the risk factor and stock return (Do regression analysis).

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Appendix: 1. Financial Statement CONSOLIDATED STATEMENTS OF FINANCIAL POSITION August August 2019 Imillions of Canadian dollari 2020 ASSETS Current Cash Accounts receivable note 3) Inventories note 4) Other current assets inte 51 Current portion of contract assets (note 221 1,446 287 B6 291 106 763 258 60 277 132 1,500 42 6,142 163 1 7,997 280 40 2,216 37 4,883 195 Investments and other assets notes 6 and 30) Property, plant and equipment (note 7 and 14) Other long-term assets (notes) Deferred income tax assets note 25 Intangibles note) Goodwill note 91 Contract assets (note 221 7,979 280 16,165 15,646 200 40 1,015 224 82 LIABILITIES AND SHAREHOLDERS' EQUITY Current Short-term borrowings Inole 10) Accounts payable and accrued liabilities inote 11) Provisions (note 123 Income taxes payable Current portion of contract liabilities tote 22) Current portion of long-term debt notes 13 and 30) Current portion of lease fiabilities incles 2 and 14) Current portion of derivatives 999 101 57 211 1 113 6 223 1.251 2,835 4,057 Long-term debt notes 13 and 301 Lease liabilities (notes 2 and 14) Other long-term liabilities notes 15 and 26) Provisions Enote 12) Deferred credits (note 16) Contract liabilities Cote 22 Deferred income tax liabilities thote 25) 1,688 4,547 1.157 72 80 406 14 1,968 9.932 75 79 425 15 1,875 9,361 6.233 Commitments and contingencies intes 12. 27 and 281 Shareholders' equity Common and preferred shareholders Non-controlling interests in subsidiaries 6.282 3 6,233 16,165 6.285 15,645 See accompanying notes On behalf of the Board Signed Brad Show Director Signed! Michael O'Brien Director 2. Income Statement CONSOLIDATED STATEMENTS OF INCOME 2000 2019 5,407 5,340 (3,016) (3,1861 (14) 9 Years ended August millions of Canadian dollars except per share amounts) Revenue totes 22 and 26) Operating general and administrative expenses inote 231 Restructuring costs notes 12 and 23) Amortization Deferred equipment revenue Cote 16) Deferred equipment costs (note 8) Property, plant and equipment, intangibles and other notes 7.9, and 14) Operating income Amortization of financing costs - long-term debt note 13) Interest expense notes 13, 14, and 26) Equity income of an associate or joint venture Inte 6) Loss on disposal of an associate or joint venture Cote 6) Other (losses) gains Inote 24) Income before income taxes Current income tax expense (note 25) Deferred income tax expense note 25) Net Income Net income attributable to Equity shareholders Non-controlling interests 16 21 (65) (85) (1.168) 1974) 1,160 1,125 (3) (3) (274) (258) 46 (109) (16) 50 851 120 114 59 4 688 733 867 688 731 2 733 688 1.32 1.41 Earnings per share note 19) Basic and diluted See accompanying notes Appendix: 1. Financial Statement CONSOLIDATED STATEMENTS OF FINANCIAL POSITION August August 2019 Imillions of Canadian dollari 2020 ASSETS Current Cash Accounts receivable note 3) Inventories note 4) Other current assets inte 51 Current portion of contract assets (note 221 1,446 287 B6 291 106 763 258 60 277 132 1,500 42 6,142 163 1 7,997 280 40 2,216 37 4,883 195 Investments and other assets notes 6 and 30) Property, plant and equipment (note 7 and 14) Other long-term assets (notes) Deferred income tax assets note 25 Intangibles note) Goodwill note 91 Contract assets (note 221 7,979 280 16,165 15,646 200 40 1,015 224 82 LIABILITIES AND SHAREHOLDERS' EQUITY Current Short-term borrowings Inole 10) Accounts payable and accrued liabilities inote 11) Provisions (note 123 Income taxes payable Current portion of contract liabilities tote 22) Current portion of long-term debt notes 13 and 30) Current portion of lease fiabilities incles 2 and 14) Current portion of derivatives 999 101 57 211 1 113 6 223 1.251 2,835 4,057 Long-term debt notes 13 and 301 Lease liabilities (notes 2 and 14) Other long-term liabilities notes 15 and 26) Provisions Enote 12) Deferred credits (note 16) Contract liabilities Cote 22 Deferred income tax liabilities thote 25) 1,688 4,547 1.157 72 80 406 14 1,968 9.932 75 79 425 15 1,875 9,361 6.233 Commitments and contingencies intes 12. 27 and 281 Shareholders' equity Common and preferred shareholders Non-controlling interests in subsidiaries 6.282 3 6,233 16,165 6.285 15,645 See accompanying notes On behalf of the Board Signed Brad Show Director Signed! Michael O'Brien Director 2. Income Statement CONSOLIDATED STATEMENTS OF INCOME 2000 2019 5,407 5,340 (3,016) (3,1861 (14) 9 Years ended August millions of Canadian dollars except per share amounts) Revenue totes 22 and 26) Operating general and administrative expenses inote 231 Restructuring costs notes 12 and 23) Amortization Deferred equipment revenue Cote 16) Deferred equipment costs (note 8) Property, plant and equipment, intangibles and other notes 7.9, and 14) Operating income Amortization of financing costs - long-term debt note 13) Interest expense notes 13, 14, and 26) Equity income of an associate or joint venture Inte 6) Loss on disposal of an associate or joint venture Cote 6) Other (losses) gains Inote 24) Income before income taxes Current income tax expense (note 25) Deferred income tax expense note 25) Net Income Net income attributable to Equity shareholders Non-controlling interests 16 21 (65) (85) (1.168) 1974) 1,160 1,125 (3) (3) (274) (258) 46 (109) (16) 50 851 120 114 59 4 688 733 867 688 731 2 733 688 1.32 1.41 Earnings per share note 19) Basic and diluted See accompanying notes