|   |  The Honourable Ken KrawetzDeputy PremierMinister of Finance |   |
|--------|-------------------------------------------------------------------|--------|
|   |                                |   |
|   | SASKATCHEWAN PROVINCIAL BUDGET                               |   |
|   | 13-14                                                             |   |
|   |                                                              |   |
|   | BALANCED GROWTH                                                   |   |
|   |  MID - YEAR  REPORT                                     |   |

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|   | Mid-Year ReportGovernment of SaskatchewanNovember 27, 2013 |   |
|--------|----------------------------------------------------------------------|--------|

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| TABLE OF CONTENTS |
|-------------------|

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|   | Overview           |   1 |   |
|--------|--------------------|---------------|--------|
|   | Economic Update    |   3 |   |
|   | Financial Overview | 11            |   |
|   | Borrowing and Debt | 16            |   |

|   | GRF – Schedule of Revenue | 20 |   |
|--------|---------------------------------|----|--------|
|   | GRF – Schedule of Expense | 21 |   |
|   | GRF – Schedule of Debt    | 22 |   |

|   | Summary Financial Statement Update | 23 |   |
|--------|------------------------------------|----|--------|

|   | Summary Statement of Surplus | 26 |   |
|--------|------------------------------|----|--------|
|   | Summary Schedule of Debt     | 28 |   |

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|   |  The Honourable Ken KrawetzDeputy PremierMinister of Finance |   |
|--------|-------------------------------------------------------------------|--------|
|   |                                |   |
|   | SASKATCHEWAN PROVINCIAL BUDGET                               |   |
|   | 13-14                                                             |   |
|   |                                                              |   |
|   |                                                              |   |
|   |  MID - YEAR  REPORT                                     |   |

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| Overview |
|----------|

|   |
|--------|

| ●   | The province’s population – estimated to be 1,108,303 as of July 1, 2013 – continues to reach new highs. |
|---------------------|----------------------------------------------------------------------------------------------------------------------------|

| ●   | Job growth has been much stronger than expected.  Total employment averaged 555,800 in the first ten months of the year.  For the full calendar year, employment growth is forecast to be 17,300 – the best year ever in terms of job growth. |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | Saskatchewan’s unemployment rate was the lowest in Canada in the first ten months of 2013. |
|---------------------|--------------------------------------------------------------------------------------------------|

| ●   | Although slower-than-expected, Saskatchewan retail sales growth continues to rank among the top provinces through the first eight months of 2013. |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | Essentially, reductions in potash revenue, Provincial Sales Tax and Crown land sales are partially offset by increases in oil revenue and Corporation Income Tax. |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | Relative to first quarter, total revenue is down $45.7 million. |
|---------------------|-----------------------------------------------------------------|

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| ●   | Expenses continue to be managed effectively. |
|---------------------|----------------------------------------------|

| ● | Spending increases relative to budget have been limited to funding in the Ministry of Government Relations, the Ministry of Social Services and minor increases for Teachers’ Pensions and Benefits, the Advocate for Children and Youth and the Legislative Assembly. |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | Every other ministry, agency and legislative office is projected to be on or below budget in 2013-14.  Expense reductions reflecting lower utilization forecasts, vacancy management, other administrative savings and lower debt-servicing costs total $75.6 million across the GRF at mid-year. |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | Relative to first quarter, total expense is down $35.5 million. |
|---------|-----------------------------------------------------------------|

| ● | Significant increases in the Not-for-Profit Insurance Organizations are the largest contributors to this improvement on a summary basis. |
|---------|------------------------------------------------------------------------------------------------------------------------------------------|

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| ● | 2013 has been the best year ever in terms of employment growth in Saskatchewan. |
|---------|---------------------------------------------------------------------------------|

| ● | As well, Saskatchewan farmers are expected to produce a record-size crop this year, roughly 34.2 million tonnes, 22.0 per cent larger than the 2013-14 Budget assumption. |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| CANADIAN AND U.S. GROWTH ASSUMPTIONS  |
|--------------------------------------------|
|                                       |   | Actual | 2013-14 Budget | 2013-14 Mid-Year |
|                                       |   | 2012 | 2013 | 2014 | 2015 | 2013 | 2014 | 2015 |
|                                       | Canada real GDP growth (%) | 1.7 | 1.7 | 2.4 | 2.4 | 1.8 | 2.4 | 2.6 |
|                                       | U.S. real GDP growth (%) | 2.8 | 1.9 | 2.7 | 3.2 | 1.6 | 3.2 | 3.5 |

| CANADIAN INTEREST RATE AND CANADIAN DOLLAR ASSUMPTIONS |
|--------------------------------------------------------|
|                                                   |
|                                                   |   | Actual | 2013-14 Budget | 2013-14 Mid-Year |
|                                                   |   | 2012 | 2013 | 2014 | 2015 | 2013 | 2014 | 2015 |
|                                                   | Short-term Interest Rate (%) |      0.94 |      1.04 |      1.58 |      2.44 |      1.00 |      1.20 |      2.00 |
|                                                   | Long-term Interest Rate (%)* |      1.86 |      1.77 |      2.02 |      2.54 |      2.30 |      2.50 |      2.70 |
|                                                   | Canadian Dollar (US cents) |  100.04 |    98.80 |    99.80 |    98.30 |    97.50 |    96.50 |    96.00 |
|                                                   | * 10-year Government of Canada Bond |   |   |   |   |   |   |

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| SURVEY OF CANADIAN DOLLAR FORECASTS (in US cents) |
|---------------------------------------------------|
|                                              | 2013 | 2014 | 2015 | Release Date |
| IHS Global Insight                                | 97.50 |   | 96.60 |   | 95.00 |   | Oct-13 |
| Conference Board of Canada                        | 97.10 |   | 96.30 |   | 97.70 |   | Sep-13 |
| The Centre for Spatial Economics                  | 98.50 |   | 97.40 |   | 97.20 |   | Aug-13 |
| TD Bank                                           | 96.75 |   | 93.75 |   | 92.75 |   | Sep-13 |
| RBC                                               | 95.24 |   | 98.04 |   |   |   | Nov-13 |
| BMO                                               | 97.40 |   | 94.60 |   |   |   | Nov-13 |
| CIBC                                              | 96.92 |   | 97.50 |   | 99.50 |   | Oct-13 |
| Laurentian Bank                                   | 95.25 |   |   |   |   |   | Sep-13 |
| Scotiabank                                        | 94.00 |   | 94.00 |   | 97.00 |   | Nov-13 |
| Private Sector Average                            | 96.52 |   | 96.02 |   | 96.53 |   |   |
| 2013-14 Budget                                    | 98.80 |   | 99.80 |   | 98.30 |   |   |
| 2013-14 Mid-Year Report                           | 97.50 |   | 96.50 |   | 96.00 |   |   |

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| SASKATCHEWAN ECONOMIC INDICATORS |
|----------------------------------|
|                             |
|                             |   |   |   |   |   |   |   |   |   |
|                             |   |   |   |   |   |     |   |   | Change from |
|                             |   | 2011 |   | 2012 |   | 2013 |   | 2012 |
|                             | Population at July 1 (000s) | 1,066.3 |   | 1,087.5 |   | 1,108.3 |   | 20.8 |
|                             |   |   |   |   |   |   |   |   |   |
|                             |   |   |   |   |   | 2013 |   | January |
|                             | Per Cent Change Unless Noted Otherwise | 2007-12 | Rank | 2012 | Rank | (year-to-date) | Rank | through |
|                             | Employment Growth (000s) | 6.5 | 2 | 11.3 | 2 | 19.2 |   | 1 | Oct. |
|                             | Unemployment Rate (%) | 4.7 | lowest | 4.7 | 2nd lowest | 4.0 |   | lowest | Oct. |
|                             | Consumer Price Index | 2.0 | 7th lowest | 1.6 | 3rd lowest | 1.3 |   | 6th lowest | Sept. |
|                             | Average Employment Weekly Earnings | 22.7 | 3 | 4.8 | 2 | 3.5 |   | 1 | Aug. |
|                             | Retail Sales | 34.0 | 1 | 7.6 | 7 | 3.5 |   | 3 | Aug. |
|                             | Wholesale Trade | 48.1 | 1 | 2.5 | 2 | 7.2 |   | 1 | Aug. |
|                             | New Motor Vehicles Sales | 24.1 | 2 | 10.6 | 2 | 4.9 |   | 6 | Sept. |
|                             | Manufacturing Sales | 36.0 | 2 | 14.0 | 2 | 5.7 |   | 2 | Sept. |
|                             | International Exports | 62.7 | 1 | 6.4 | 2 | 3.1 |   | 6 | Sept. |
|                             | Value of Building Permits | 89.1 | 1 | 19.1 | 2 | -2.8 |   | 4 | Sept. |
|                             | Housing Starts | 65.9 | 1 | 41.8 | 1 | -12.2 |   | 5 | Sept. |
|                             | Investment in New Housing Construction | 130.0 | 1 | 35.0 | 1 | 4.6 |   | 3 | Aug. |
|                             | Investment in Non-residential Building Construction | 96.6 | 2 | 22.4 | 1 | -2.9 |   | 5 | Sept. |
|                             | Source: Statistics Canada |   |   |   |   |   |   |   |   |

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| COMMODITY PRICE ASSUMPTIONS - CALENDAR YEAR |
|---------------------------------------------|
|                                        |
|                                        |   | Actual | 2013-14 Budget | 2013-14 Mid-Year |
|                                        |   | 2012 | 2013 | 2014 | 2015 | 2013 | 2014 | 2015 |
|                                        | WTI Oil (US$ per barrel) | 94.15 | 92.50 | 94.50 | 95.00 | 99.00 | 97.50 | 93.00 |
|                                        | Natural Gas (C$ per GJ) | 2.18 | 3.10 | 3.50 | 4.05 | 3.10 | 3.50 | 3.90 |
|                                        | Potash (C$ per K2O tonne)1 | 721.21 | 645.43 | 679.79 | 714.82 | 598.89 | 557.86 | 564.00 |
|                                        | Potash (US$ per KCl tonne)1 | 440.38 | 388.99 | 413.84 | 428.63 | 356.19 | 328.38 | 330.28 |
|                                        | Wheat (C$ per tonne) | 263.12 | 274.02 | 286.86 | 300.83 | 274.02 | 280.85 | 294.15 |
|                                        | Canola (C$ per tonne) | 576.70 | 558.84 | 530.10 | 542.73 | 558.84 | 550.09 | 561.73 |
|                                        | Barley (C$ per tonne) | 236.80 | 217.34 | 216.58 | 235.12 | 217.34 | 215.99 | 234.44 |
|   | 1                                                         | The potash industry quotes prices in US dollars per KCl tonne. Provincial royalty calculations, however, are based on the Canadian dollar price per K2O tonne. |
|--------|-----------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | Sources: Ministry of the Economy, Ministry of Agriculture |

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| FORECAST AT A GLANCE                     |
|------------------------------------------|
| (Per cent Change Unless Otherwise Noted) |
|                                     |
|                                     |   | Actual | 2013-14 Budget | 2013-14 Mid-Year |
|                                     |   | 2012 | 2013 | 2014 | 2015 | 2013 | 2014 | 2015 |
|                                     | Real GDP | 2.7* | 2.6 | 3.1 | 2.5 | 3.6 | 2.2 | 2.0 |
|                                     | Nominal GDP | 5.5* | 3.2 | 5.4 | 4.5 | 5.5 | 1.6 | 2.4 |
|                                     | CPI | 1.6 | 2.3 | 2.2 | 2.3 | 1.5 | 2.2 | 1.6 |
|                                     | Employment growth (000s) | 11.2 | 10.0 | 6.4 | 6.1 | 17.3 | 6.9 | 6.4 |
|                                     | Unemployment rate (%) | 4.7 | 4.5 | 4.7 | 4.9 | 4.2 | 4.5 | 4.7 |
|                                     | Retail sales | 7.6 | 5.7 | 6.1 | 4.4 | 3.1 | 4.0 | 4.4 |
|                                     | * Due to the timing of Statistics Canada's 2012 Provincial Economic Accounts release on November 8, 2013, 2012 figures still represent forecasts. |

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| PRIVATE SECTOR REAL GDP GROWTH FORECASTS FOR SASKATCHEWAN |
|-----------------------------------------------------------|
|                                                      |
|                                                      |   |   |   |   |   | Cumulative |   |
|                                                      | (Per Cent Change) | 2013 | 2014 | Growth | Release Date |
|                                                      | IHS Global Insight | 2.2 |   | 2.7 |   | 5.0 | Nov-13 |
|                                                      | TD Bank | 2.4 |   | 3.1 |   | 5.6 | Oct-13 |
|                                                      | Scotiabank | 2.9 |   | 2.7 |   | 5.7 | Oct-13 |
|                                                      | BMO | 2.4 |   | 2.8 |   | 5.3 | Oct-13 |
|                                                      | RBC | 2.7 |   | 2.7 |   | 5.4 | Sept-13 |
|                                                      | CIBC | 2.4 |   | 2.8 |   | 5.3 | Sept-13 |
|                                                      | Conference Board of Canada | 3.5 |   | 2.4 |   | 6.0 | Aug-13 |
|                                                      | The Centre for Spatial Economics | 2.5 |   | 3.2 |   | 5.8 | Aug-13 |
|                                                      | Laurentian Bank | 2.0 |   | 2.7 |   | 4.8 | Jul-13 |
|                                                      | Average of Private Sector Forecasts | 2.6 |   | 2.8 |   | 5.5 |   |
|                                                      | Ministry of Finance (2013-14 Budget) | 2.6 |   | 3.1 |   | 5.8 |   |
|                                                      | Ministry of Finance (2013-14 Mid-year) | 3.6 |   | 2.2 |   | 5.9 |   |

| PRIVATE SECTOR FORECASTS OF REAL GDP GROWTH BY PROVINCE |
|---------------------------------------------------------|
| (Per Cent Change)                                       |
|                                                    |   | 2013 | Rank | 2014 | Rank |
|                                                    | British Columbia | 1.5 | 5 | 2.4 | 3 |
|                                                    | Alberta | 2.8 | 2 | 3.3 | 1 |
|                                                    | Saskatchewan | 2.6 | 3 | 2.8 | 2 |
|                                                    | Manitoba | 1.9 | 4 | 2.1 | 5 |
|                                                    | Ontario | 1.4 | 6 | 2.2 | 4 |
|                                                    | Quebec | 1.3 | 7 | 1.9 | 6 |
|                                                    | New Brunswick | 0.7 | 9 | 1.5 | 8 |
|                                                    | Nova Scotia | 1.2 | 8 | 2.1 | 5 |
|                                                    | Prince Edward Island | 1.3 | 7 | 1.5 | 8 |
|                                                    | Newfoundland and Labrador | 5.2 | 1 | 1.7 | 7 |
|                                                    | Canada | 1.7 |   | 2.3 |   |

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| Financial Overview |
|--------------------|

| ● | revenue is down $33.9 million, or 0.3 per cent, from budget; and, |
|---------|-------------------------------------------------------------------|

| ● | expense is up $8.1 million, or 0.1 per cent, from budget. |
|---------|-----------------------------------------------------------|

|  2013-14 GRF FORECAST OVERVIEW |
|-------------------------------------|
|                                |
|                                |   |   | Budget |   |   | 1st Quarter |   |   | Mid-Year |   |   | Change from |   |
|                                | (millions of dollars) |   | Estimate |   |   | Forecast |   |   | Projection |   |   | Budget |   |   | 1st Quarter |   |
|                                | Revenue |   |   | 11,607.3 |   |   |   | 11,619.1 |   |   |   | 11,573.4 |   |   |   | (33.9 | ) |   |   | (45.7 | ) |
|                                | Expense |   |   | 11,542.5 |   |   |   | 11,586.1 |   |   |   | 11,550.6 |   |   |   | 8.1 |   |   |   | (35.5 | ) |
|                                | Pre-Transfer Surplus |   |   | 64.8 |   |   |   | 33.0 |   |   |   | 22.8 |   |   |   | (42.0 | ) |   |   | (10.2 | ) |
|                                | Transfer (to) GFSF |   |   | (32.4 | ) |   |   | (16.5 | ) |   |   | (11.4 | ) |   |   | 21.0 |   |   |   | 5.1 |   |
|                                | Transfer from GFSF |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                | Net Transfer from (to) GFSF |   |   | (32.4 | ) |   |   | (16.5 | ) |   |   | (11.4 | ) |   |   | 21.0 |   |   |   | 5.1 |   |
|                                | GRF Surplus |   |   | 32.4 |   |   |   | 16.5 |   |   |   | 11.4 |   |   |   | (21.0 | ) |   |   | (5.1 | ) |
|                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                | GFSF Opening Balance* |   |   | 662.7 |   |   |   | 666.3 |   |   |   | 666.3 |   |   |   | 3.6 |   |   |   | - |   |
|                                | Net Transfer from (to) GRF |   |   | 32.4 |   |   |   | 16.5 |   |   |   | 11.4 |   |   |   | (21.0 | ) |   |   | (5.1 | ) |
|                                | GFSF Balance |   |   | 695.1 |   |   |   | 682.8 |   |   |   | 677.7 |   |   |   | (17.4 | ) |   |   | (5.1 | ) |
|                                | GFSF Balance - Security |   |   | 512.7 |   |   |   | 516.3 |   |   |   | 516.3 |   |   |   | 3.6 |   |   |   | - |   |
|                                | GFSF Balance - Growth |   |   | 182.4 |   |   |   | 166.5 |   |   |   | 161.4 |   |   |   | (21.0 | ) |   |   | (5.1 | ) |
|                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                | Government Public Debt** |   |   | 3,804.8 |   |   |   | 3,804.8 |   |   |   | 3,804.8 |   |   |   | - |   |   |   | - |   |

|   | *  | First Quarter Forecast and Mid-Year Projection reflect actual 2013-14 opening balance. |
|--------|----|----------------------------------------------------------------------------------------|
|   | ** | Budget Estimate figure has been adjusted to reflect the 2012-13 actual level.          |

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| 2013-14 REVENUE RECONCILIATION |
|--------------------------------|
|                           |
|                           | (millions of dollars) |   | Change |   |   | Total |   |
|                           | Revenue - Budget Estimate |   |   |   |   |   | 11,607.3 |   |
|                           | Forecast Changes |   |   |   |   |   |   |   |
|                           |   | Potash |   |   | - 107.2 |   |   |   |   |   |
|                           |   | Provincial Sales Tax |   |   | - 60.0 |   |   |   |   |   |
|                           |   | Crown Land Sales |   |   | - 45.1 |   |   |   |   |   |
|                           |   | Saskatchewan Liquor and Gaming Authority |   |   | - 17.5 |   |   |   |   |   |
|                           |   | Fuel Tax |   |   | - 6.0 |   |   |   |   |   |
|                           |   | Oil |   |   | + 155.3 |   |   |   |   |   |
|                           |   | Corporation Income Tax |   |   | + 25.5 |   |   |   |   |   |
|                           |   | Other net changes |   |   | + 21.1 |   |   |   |   |   |
|                           | Total Change from Budget |   |   |   |   |   |   | - 33.9 |   |
|                           | Revenue - Mid-Year Projection |   |   |   |   |   |   | 11,573.4 |   |

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| 2013-14 KEY RESOURCE FORECAST ASSUMPTIONS - FISCAL YEAR |
|---------------------------------------------------------|
|                                                    |
|                                                    |   |   | Budget |   |   | 1st Quarter |   |   | Mid-Year |   |
|                                                    | WTI Oil Price (US$ per barrel) |   |   | 92.84 |   |   |   | 95.03 |   |   |   | 99.78 |   |
|                                                    | Light-Heavy Differential (% of WTI) |   |   | 17.9 |   |   |   | 15.5 |   |   |   | 16.4 |   |
|                                                    | Well-head Oil Price (C$ per barrel)1 |   |   | 75.29 |   |   |   | 80.01 |   |   |   | 83.68 |   |
|                                                    | Oil Production (millions of barrels) |   |   | 171.8 |   |   |   | 173.0 |   |   |   | 175.5 |   |
|                                                    | Potash Price (mine netback, US$ per KCI tonne)2 |   |   | 395 |   |   |   | 372 |   |   |   | 348 |   |
|                                                    | Potash Price (mine netback, C$ per K2O tonne)2 |   |   | 654 |   |   |   | 636 |   |   |   | 589 |   |
|                                                    | Potash Sales (million K2O tonnes)2 |   |   | 10.4 |   |   |   | 10.4 |   |   |   | 10.1 |   |
|                                                    | Canadian Dollar (US cents) |   |   | 98.92 |   |   |   | 96.00 |   |   |   | 97.00 |   |

|   | 1 | The average price per barrel of Saskatchewan light, medium and heavy oil. |
|--------|---|---------------------------------------------------------------------------|
|   | 2 | Ministry of Finance calculations derived from calendar-year forecasts.    |

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| ● | As reported at first quarter, Government Relations is projected to be $43.6 million higher than budget.  The increase is primarily due to an increase for the Provincial Disaster Assistance Program related to 2013 claims and outstanding prior-year claims. |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | Social Services is projected to increase $39.5 million from budget, primarily due to a higher-than-expected caseload in the Saskatchewan Assured Income for Disability program, as well as pressures in other disability initiatives, emergency fire and flood evacuation costs, and information technology costs. |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2013-14 EXPENSE RECONCILIATION |
|--------------------------------|
|                           |
|                           | (millions of dollars) | Change | Total |   |
|                           | Expense - Budget Estimate |   |        11,542.5 |   |
|                           | Forecast Changes |   |   |   |
|                           |   | Government Relations |          +  43.6 |   |   |
|                           |   | Social Services |          +  39.5 |   |   |
|                           |   | Other increases |            +  0.6 |   |   |
|                           |   | Expense reductions |           -  75.6 |   |   |
|                           | Total Change from Budget |   |            +  8.1 |   |
|                           | Expense - Mid-Year Projection |   |        11,550.6 |   |

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| GROWTH AND FINANCIAL SECURITY FUND |
|------------------------------------|
|                               |
|                               |   |   |   | 2013-14 |   |   | Mid-Year |   |
|                               |   |   | Budget |   |   | 1st Quarter |   |   | Mid-Year |   |   | Change from |   |
|                               | (millions of dollars) |   | Estimate |   |   | Forecast |   |   | Projection |   |   | Budget |   |   | 1st Quarter |   |
|                               | Opening Balance (Security)* |   |   | 512.7 |   |   |   | 516.3 |   |   |   | 516.3 |   |   |   | 3.6 |   |   |   | - |   |
|                               | Plus: Transfers from the GRF |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                               | Less: Transfers (to) the GRF |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                               | Net Transfers (to) from the GRF |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                               | Closing Balance (Security) |   |   | 512.7 |   |   |   | 516.3 |   |   |   | 516.3 |   |   |   | 3.6 |   |   |   | - |   |
|                               | Opening Balance (Growth)* |   |   | 150.0 |   |   |   | 150.0 |   |   |   | 150.0 |   |   |   | - |   |   |   | - |   |
|                               | Plus: Transfers from the GRF  (50% of GRF pre-transfer surplus) |   |   | 32.4 |   |   |   | 16.5 |   |   |   | 11.4 |   |   |   | (21.0 | ) |   |   | (5.1 | ) |
|                               | Less: Transfers (to) the GRF |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                               | Net Transfers (to) from the GRF |   |   | 32.4 |   |   |   | 16.5 |   |   |   | 11.4 |   |   |   | (21.0 | ) |   |   | (5.1 | ) |
|                               | Closing Balance (Growth) |   |   | 182.4 |   |   |   | 166.5 |   |   |   | 161.4 |   |   |   | (21.0 | ) |   |   | (5.1 | ) |
|                               | Closing Balance |   |   | 695.1 |   |   |   | 682.8 |   |   |   | 677.7 |   |   |   | (17.4 | ) |   |   | (5.1 | ) |

|   | * | Opening balances for security and growth components at first quarter and mid-year reflect the 2012-13 year-end GFSF balance of $666.3 million as reported in the 2012-13 Public Accounts. |
|--------|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Borrowing and Debt |
|--------------------|

| GRF DEBT       |
|----------------|
| As at March 31 |
|           |
|           |   |   |   |   |   |   |   | 2013-14 |   |   | Mid-Year |   |
|           |   |   |   |   | 2012-13 |   |   | Budget |   |   | Mid-Year |   |   | Change from |   |
|           | (millions of dollars) |   | Actual |   |   | Estimate |   |   | Projection |   |   |   | 2012-13 |   |   | Budget |   |
|           | GRF Government General Public Debt |   |   | 3,804.8 |   |   |   | 3,807.6 |   |   |   | 3,804.8 |   |   |   | - |   |   |   | (2.8 | ) |
|           | GRF Crown Corporation Public Debt |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|           |   | Crown Corporation General |   |   | 886.5 |   |   |   | 731.2 |   |   |   | 658.5 |   |   |   | (228.0 | ) |   |   | (72.7 | ) |
|           |   | Government Business Enterprise Specific |   |   | 4,487.9 |   |   |   | 5,532.7 |   |   |   | 5,763.6 |   |   |   | 1,275.7 |   |   |   | 230.9 |   |
|           | GRF Crown Corporation Public Debt |   |   | 5,374.4 |   |   |   | 6,263.9 |   |   |   | 6,422.1 |   |   |   | 1,047.7 |   |   |   | 158.2 |   |
|           | GRF Public Debt |   |   | 9,179.2 |   |   |   | 10,071.5 |   |   |   | 10,226.9 |   |   |   | 1,047.7 |   |   |   | 155.4 |   |
|           | Guaranteed Debt |   |   | 132.0 |   |   |   | 183.1 |   |   |   | 198.4 |   |   |   | 66.4 |   |   |   | 15.3 |   |

----

----

----

| GRF BORROWING REQUIREMENTS |                                     |                |     |      |    |       |     |      |    |
|----------------------------|------------------------------------------|---------------------|----------|-----------|---------|------------|----------|-----------|---------|
|                       |                                     |                |     |      |    |       |     |      |    |
|                       |                                     |                |     | Budget    |    |       | Mid-Year |      |    | Change from |   |
|                       | (thousands of dollars)                   |                | Estimate |      |    | Projection |     |      | Budget  |   |
|                       | Borrowing for Crown Corporations         |                |     |      |    |       |     |      |    |   |
|                       |                                     |                |     |      |    |       |     |      |    |   |   |
|                       | Municipal Financing Corporation          |                |     |      |    |       |     |      |    |   |
|                       |                                     | of Saskatchewan     |     |      | 120,000 |       |     |      | 120,000 |   |   |   | - |   |
|                       | Saskatchewan Liquor and Gaming Authority |                |     | 125,000   |    |       |     | 125,000   |    |   |   | - |   |
|                       | Saskatchewan Power Corporation           |                |     | 595,500   |    |       |     | 949,700   |    |   |   | 354,200 |   |
|                       | Saskatchewan Telecommunications          |                |     |      |    |       |     |      |    |   |   |   |   |
|                       |                                     | Holding Corporation |     |      | 123,100 |       |     |      | 125,000 |   |   |   | 1,900 |   |
|                       | Saskatchewan Water Corporation           |                |     | 18,785    |    |       |     | 3,200     |    |   |   | (15,585 | ) |
|                       | SaskEnergy Incorporated                  |                |     | 144,095   |    |       |     | 100,000   |    |   |   | (44,095 | ) |
|                       | Borrowing for Crown Corporations         |                |     | 1,126,480 |    |       |     | 1,422,900 |    |   |   | 296,420 |   |
|                       | Borrowing for Government                 |                |     | 468,382   |    |       |     | 459,470   |    |   |   | (8,912 | ) |
|                       | Total Borrowing Requirements             |                |     | 1,594,862 |    |       |     | 1,882,370 |    |   |   | 287,508 |   |

----

----

----

|   |  The Honourable Ken KrawetzDeputy PremierMinister of Finance |   |
|--------|-------------------------------------------------------------------|--------|
|   |                                |   |
|   | SASKATCHEWAN PROVINCIAL BUDGET                               |   |
|   | 13-14                                                             |   |
|   |                                                              |   |
|   |                                                              |   |
|   |  MID - YEAR  REPORT                                     |   |

----

----

----

| GENERAL REVENUE FUNDFINANCIAL TABLES  |
|--------------------------------------------|

----

|   | Schedule of Revenue Schedule of Expense Schedule of Debt |
|--------|--------------------------------------------------------------------|

----

----

----

| GENERAL REVENUE FUND                          |   |                   |       |   |        |   |       |       |   |   |        |   |   |        |     |
|-----------------------------------------------|--------|------------------------|------------|--------|-------------|--------|------------|------------|--------|--------|-------------|--------|--------|-------------|----------|
|                                          |   |                   |       |   |        |   |       |       |   |   |        |   |   |        |     |
| Schedule of Revenue                           |   |                   |       |   |        |   |       |       |   |   |        |   |   |        |     |
|                                          |   |                   |       |   |        |   |       |       |   |   |        |   |   |        |     |
|                                          |   | (thousands of dollars) |       |
|                                          |   | Budget                 |       |   | 1st Quarter |   |       | Mid-Year   |   |   | Change from |   |
|                                          |   | Estimate               |       |   | Forecast    |   |       | Projection |   |   | Budget      |   |   | 1st Quarter |     |
|                                          |   |                   |       |   |        |   |       |       |   |   |        |   |   |        |     |
| Corporation Income                            |   |                   | 986,800    |   |        |   | 986,800    |       |   |   | 1,012,300   |   |   |        | 25,500   |   |   |   | 25,500 |   |
| Fuel                                          |   |                   | 526,100    |   |        |   | 526,100    |       |   |   | 520,100     |   |   |        | (6,000   | ) |   |   | (6,000 | ) |
| Individual Income                             |   |                   | 2,445,500  |   |        |   | 2,445,500  |       |   |   | 2,445,500   |   |   |        | -        |   |   |   | - |   |
| Provincial Sales                              |   |                   | 1,401,400  |   |        |   | 1,386,400  |       |   |   | 1,341,400   |   |   |        | (60,000  | ) |   |   | (45,000 | ) |
| Tobacco                                       |   |                   | 295,300    |   |        |   | 295,300    |       |   |   | 295,300     |   |   |        | -        |   |   |   | - |   |
| Other                                         |   |                   | 336,500    |   |        |   | 336,500    |       |   |   | 347,000     |   |   |        | 10,500   |   |   |   | 10,500 |   |
| Taxes                                         |   |                   | 5,991,600  |   |        |   | 5,976,600  |       |   |   | 5,961,600   |   |   |        | (30,000  | ) |   |   | (15,000 | ) |
|                                          |   |                   |       |   |        |   |       |       |   |   |        |   |   |        |     |   |   |   |   |   |
| Crown Land Sales                              |   |                   | 111,400    |   |        |   | 65,800     |       |   |   | 66,300      |   |   |        | (45,100  | ) |   |   | 500 |   |
| Natural Gas                                   |   |                   | 9,600      |   |        |   | 11,300     |       |   |   | 11,100      |   |   |        | 1,500    |   |   |   | (200 | ) |
| Oil                                           |   |                   | 1,441,200  |   |        |   | 1,533,200  |       |   |   | 1,596,500   |   |   |        | 155,300  |   |   |   | 63,300 |   |
| Potash                                        |   |                   | 519,900    |   |        |   | 498,600    |       |   |   | 412,700     |   |   |        | (107,200 | ) |   |   | (85,900 | ) |
| Resource Surcharge                            |   |                   | 488,800    |   |        |   | 488,800    |       |   |   | 488,800     |   |   |        | -        |   |   |   | - |   |
| Other                                         |   |                   | 99,700     |   |        |   | 99,700     |       |   |   | 98,000      |   |   |        | (1,700   | ) |   |   | (1,700 | ) |
| Non-Renewable Resources                       |   |                   | 2,670,600  |   |        |   | 2,697,400  |       |   |   | 2,673,400   |   |   |        | 2,800    |   |   |   | (24,000 | ) |
|                                          |   |                   |       |   |        |   |       |       |   |   |        |   |   |        |     |   |   |   |   |   |
| Crown Investments Corporation of Saskatchewan |   |                   | 180,000    |   |        |   | 180,000    |       |   |   | 180,000     |   |   |        | -        |   |   |   | - |   |
|     - Special Dividend         |   |                   | 16,600     |   |        |   | 16,600     |       |   |   | 19,400      |   |   |        | 2,800    |   |   |   | 2,800 |   |
| Saskatchewan Liquor and Gaming Authority      |   |                   | 491,800    |   |        |   | 491,800    |       |   |   | 474,300     |   |   |        | (17,500  | ) |   |   | (17,500 | ) |
| Other Enterprises and Funds                   |   |                   | 60,300     |   |        |   | 60,300     |       |   |   | 60,300      |   |   |        | -        |   |   |   | - |   |
| Transfers from Crown Entities                 |   |                   | 748,700    |   |        |   | 748,700    |       |   |   | 734,000     |   |   |        | (14,700  | ) |   |   | (14,700 | ) |
|                                          |   |                   |       |   |        |   |       |       |   |   |        |   |   |        |     |   |   |   |   |   |
| Fines, Forfeits and Penalties                 |   |                   | 19,400     |   |        |   | 19,400     |       |   |   | 19,400      |   |   |        | -        |   |   |   | - |   |
| Investment Income                             |   |                   | 89,400     |   |        |   | 89,400     |       |   |   | 89,400      |   |   |        | -        |   |   |   | - |   |
| Motor Vehicle Fees                            |   |                   | 183,300    |   |        |   | 183,300    |       |   |   | 183,300     |   |   |        | -        |   |   |   | - |   |
| Other Licences and Permits                    |   |                   | 26,200     |   |        |   | 26,200     |       |   |   | 26,200      |   |   |        | -        |   |   |   | - |   |
| Sales, Services and Service Fees              |   |                   | 132,800    |   |        |   | 132,800    |       |   |   | 132,800     |   |   |        | -        |   |   |   | - |   |
| Transfers from Other Governments              |   |                   | 16,900     |   |        |   | 16,900     |       |   |   | 23,200      |   |   |        | 6,300    |   |   |   | 6,300 |   |
| Other                                         |   |                   | 100,000    |   |        |   | 100,000    |       |   |   | 100,000     |   |   |        | -        |   |   |   | - |   |
| Other Revenue                                 |   |                   | 568,000    |   |        |   | 568,000    |       |   |   | 574,300     |   |   |        | 6,300    |   |   |   | 6,300 |   |
| Own-Source Revenue                            |   |                   | 9,978,900  |   |        |   | 9,990,700  |       |   |   | 9,943,300   |   |   |        | (35,600  | ) |   |   | (47,400 | ) |
|                                          |   |                   |       |   |        |   |       |       |   |   |        |   |   |        |     |   |   |   |   |   |
| Canada Health Transfer                        |   |                   | 959,200    |   |        |   | 959,200    |       |   |   | 960,300     |   |   |        | 1,100    |   |   |   | 1,100 |   |
| Canada Social Transfer                        |   |                   | 377,900    |   |        |   | 377,900    |       |   |   | 388,900     |   |   |        | 11,000   |   |   |   | 11,000 |   |
| Other                                         |   |                   | 291,300    |   |        |   | 291,300    |       |   |   | 280,900     |   |   |        | (10,400  | ) |   |   | (10,400 | ) |
| Transfers from the Government of Canada       |   |                   | 1,628,400  |   |        |   | 1,628,400  |       |   |   | 1,630,100   |   |   |        | 1,700    |   |   |   | 1,700 |   |
| Revenue                                       |   |                   | 11,607,300 |   |        |   | 11,619,100 |       |   |   | 11,573,400  |   |   |        | (33,900  | ) |   |   | (45,700 | ) |

----

----

----

| GENERAL REVENUE FUND                         |
|----------------------------------------------|
|                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Schedule of Expense                          |
|                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                         |   | (thousands of dollars) |   |
|                                         |   | Budget |   |   | 1st Quarter |   |   | Mid-Year |   |  Change from |
|                                         |   | Estimate |   |   | Forecast |   |   | Projection |   |   | Budget |   |   | 1st Quarter |   |
| Ministries and Agencies                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Advanced Education                           |   |   | 787,716 |   |   |   | 787,716 |   |   |   | 782,416 |   |   |   | (5,300 | ) |   |   | (5,300 | ) |
| Agriculture                                  |   |   | 406,860 |   |   |   | 406,860 |   |   |   | 402,785 |   |   |   | (4,075 | ) |   |   | (4,075 | ) |
| Central Services                             |   |   | 74,045 |   |   |   | 74,045 |   |   |   | 73,304 |   |   |   | (741 | ) |   |   | (741 | ) |
| Economy                                      |   |   | 275,517 |   |   |   | 275,517 |   |   |   | 274,078 |   |   |   | (1,439 | ) |   |   | (1,439 | ) |
| Education                                    |   |   | 1,381,540 |   |   |   | 1,381,540 |   |   |   | 1,378,833 |   |   |   | (2,707 | ) |   |   | (2,707 | ) |
|  - Teachers' Pensions and Benefits      |   |   | 321,944 |   |   |   | 321,944 |   |   |   | 322,244 |   |   |   | 300 |   |   |   | 300 |   |
| Environment                                  |   |   | 163,275 |   |   |   | 163,275 |   |   |   | 161,606 |   |   |   | (1,669 | ) |   |   | (1,669 | ) |
| Executive Council                            |   |   | 17,818 |   |   |   | 17,818 |   |   |   | 17,640 |   |   |   | (178 | ) |   |   | (178 | ) |
| Finance                                      |   |   | 68,788 |   |   |   | 68,788 |   |   |   | 68,100 |   |   |   | (688 | ) |   |   | (688 | ) |
|  - Public Service Pensions and Benefits |   |   | 291,076 |   |   |   | 291,076 |   |   |   | 291,076 |   |   |   | - |   |   |   | - |   |
| Finance Debt Servicing                       |   |   | 340,000 |   |   |   | 340,000 |   |   |   | 335,000 |   |   |   | (5,000 | ) |   |   | (5,000 | ) |
| Government Relations                         |   |   | 477,309 |   |   |   | 520,895 |   |   |   | 520,895 |   |   |   | 43,586 |   |   |   | - |   |
| Health                                       |   |   | 4,841,661 |   |   |   | 4,841,661 |   |   |   | 4,793,661 |   |   |   | (48,000 | ) |   |   | (48,000 | ) |
| Highways and Infrastructure                  |   |   | 423,336 |   |   |   | 423,336 |   |   |   | 419,136 |   |   |   | (4,200 | ) |   |   | (4,200 | ) |
| Innovation Saskatchewan                      |   |   | 28,006 |   |   |   | 28,006 |   |   |   | 27,726 |   |   |   | (280 | ) |   |   | (280 | ) |
| Justice                                      |   |   | 541,975 |   |   |   | 541,975 |   |   |   | 541,975 |   |   |   | - |   |   |   | - |   |
| Labour Relations and Workplace Safety        |   |   | 18,440 |   |   |   | 18,440 |   |   |   | 18,254 |   |   |   | (186 | ) |   |   | (186 | ) |
| Parks, Culture and Sport                     |   |   | 104,765 |   |   |   | 104,765 |   |   |   | 103,718 |   |   |   | (1,047 | ) |   |   | (1,047 | ) |
| Saskatchewan Research Council                |   |   | 19,743 |   |   |   | 19,743 |   |   |   | 19,743 |   |   |   | - |   |   |   | - |   |
| SaskBuilds Corporation                       |   |   | 8,300 |   |   |   | 8,300 |   |   |   | 8,217 |   |   |   | (83 | ) |   |   | (83 | ) |
| Social Services                              |   |   | 889,607 |   |   |   | 889,607 |   |   |   | 929,107 |   |   |   | 39,500 |   |   |   | 39,500 |   |
| Water Security Agency                        |   |   | 15,480 |   |   |   | 15,480 |   |   |   | 15,480 |   |   |   | - |   |   |   | - |   |
|                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Legislative Assembly and its Officers        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Advocate for Children and Youth              |   |   | 2,195 |   |   |   | 2,195 |   |   |   | 2,456 |   |   |   | 261 |   |   |   | 261 |   |
| Chief Electoral Officer                      |   |   | 3,800 |   |   |   | 3,800 |   |   |   | 3,800 |   |   |   | - |   |   |   | - |   |
| Conflict of Interest Commissioner            |   |   | 148 |   |   |   | 148 |   |   |   | 148 |   |   |   | - |   |   |   | - |   |
| Information and Privacy Commissioner         |   |   | 1,116 |   |   |   | 1,116 |   |   |   | 1,116 |   |   |   | - |   |   |   | - |   |
| Legislative Assembly                         |   |   | 26,257 |   |   |   | 26,285 |   |   |   | 26,285 |   |   |   | 28 |   |   |   | - |   |
| Ombudsman                                    |   |   | 3,354 |   |   |   | 3,354 |   |   |   | 3,354 |   |   |   | - |   |   |   | - |   |
| Provincial Auditor                           |   |   | 8,457 |   |   |   | 8,464 |   |   |   | 8,457 |   |   |   | - |   |   |   | (7 | ) |
|                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expense                                      |   |   | 11,542,528 |   |   |   | 11,586,149 |   |   |   | 11,550,610 |   |   |   | 8,082 |   |   |   | (35,539 | ) |

----

----

----

| GENERAL REVENUE FUND                                |   |                   |       |   |          |   |       |       |     |   |       |        |
|-----------------------------------------------------|--------|------------------------|------------|--------|---------------|--------|------------|------------|----------|--------|------------|-------------|
|                                                |   |                   |       |   |          |   |       |       |     |   |       |        |
| Schedule of Debt                                    |   |                   |       |   |          |   |       |       |     |   |       |        |
| As at March 31                                      |   |                   |       |   |          |   |       |       |     |   |       |        |
|                                                |   |                   |       |   |          |   |       |       |     |   |       |        |
|                                                |   | (thousands of dollars) |       |
|                                                |   |                   |       |   |  2013-14 |   | Mid-Year   |       |
|                                                |   |                   | 2012-13    |   |          | Budget |       |       | Mid-Year |   |       | Change from |   |
|                                                |   | Actual                 |       |   | Estimate      |   |       | Projection |     |   | Budget     |        |
|                                                |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |
| Government General Public Debt                      |   |                   | 3,804,817  |   |          |   | 3,807,590  |       |     |   | 3,804,817  |        |   |   | (2,773 | ) |
|                                                |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
| Crown Corporation General Public Debt               |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
| Information Services Corporation                    |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
|    of Saskatchewan                   |   |                   | 9,935      |   |          |   | 9,935      |       |     |   | -          |        |   |   | (9,935 | ) |
| Municipal Financing Corporation                     |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
|    of Saskatchewan                   |   |                   | 15,289     |   |          |   | 5,300      |       |     |   | 15,289     |        |   |   | 9,989 |   |
| Saskatchewan Housing Corporation                    |   |                   | 25,282     |   |          |   | 23,955     |       |     |   | 23,610     |        |   |   | (345 | ) |
| Saskatchewan Liquor and Gaming Authority            |   |                   | 125,064    |   |          |   | -          |       |     |   | -          |        |   |   | - |   |
| Saskatchewan Opportunities Corporation              |   |                   | 35,291     |   |          |   | 34,876     |       |     |   | 34,849     |        |   |   | (27 | ) |
| Saskatchewan Power Corporation                      |   |                   | 95,303     |   |          |   | 94,146     |       |     |   | 94,070     |        |   |   | (76 | ) |
| Saskatchewan Telecommunications                     |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
|    Holding Corporation               |   |                   | 157,000    |   |          |   | 102,900    |       |     |   | 118,200    |        |   |   | 15,300 |   |
| Saskatchewan Water Corporation                      |   |                   | 16,203     |   |          |   | 62,248     |       |     |   | 19,403     |        |   |   | (42,845 | ) |
| SaskEnergy Incorporated                             |   |                   | 407,117    |   |          |   | 397,859    |       |     |   | 353,068    |        |   |   | (44,791 | ) |
| Crown Corporation General Public Debt               |   |                   | 886,484    |   |          |   | 731,219    |       |     |   | 658,489    |        |   |   | (72,730 | ) |
|                                                |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
| Government Business Enterprise Specific Public Debt |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
| Municipal Financing Corporation                     |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
|    of Saskatchewan                   |   |                   | 132,377    |   |          |   | 242,647    |       |     |   | 242,612    |        |   |   | (35 | ) |
| Saskatchewan Gaming Corporation                     |   |                   | 6,000      |   |          |   | 6,000      |       |     |   | 6,000      |        |   |   | - |   |
| Saskatchewan Liquor and Gaming Authority            |   |                   | -          |   |          |   | 125,000    |       |     |   | 125,000    |        |   |   | - |   |
| Saskatchewan Power Corporation                      |   |                   | 3,251,648  |   |          |   | 3,888,933  |       |     |   | 4,094,588  |        |   |   | 205,655 |   |
| Saskatchewan Telecommunications                     |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
|    Holding Corporation               |   |                   | 495,754    |   |          |   | 608,659    |       |     |   | 609,360    |        |   |   | 701 |   |
| Saskatchewan Water Corporation                      |   |                   | 32,044     |   |          |   | -          |       |     |   | 25,605     |        |   |   | 25,605 |   |
| SaskEnergy Incorporated                             |   |                   | 570,055    |   |          |   | 661,486    |       |     |   | 660,457    |        |   |   | (1,029 | ) |
| Government Business Enterprise Specific Public Debt |   |                   | 4,487,878  |   |          |   | 5,532,725  |       |     |   | 5,763,622  |        |   |   | 230,897 |   |
|                                                |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
| Public Debt                                         |   |                   | 9,179,179  |   |          |   | 10,071,534 |       |     |   | 10,226,928 |        |   |   | 155,394 |   |
|                                                |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
| Public Debt by Category                             |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
| Government General Gross Debt                       |   |                   | 5,025,494  |   |          |   | 4,862,223  |       |     |   | 4,869,068  |        |   |   | 6,845 |   |
| Government General Sinking Funds                    |   |                   | (1,220,677 | )      |          |   | (1,054,633 | )          |     |   | (1,064,251 | )           |   |   | (9,618 | ) |
| Government General Public Debt                      |   |                   | 3,804,817  |   |          |   | 3,807,590  |       |     |   | 3,804,817  |        |   |   | (2,773 | ) |
|                                                |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
| Crown Corporation Gross Debt                        |   |                   | 5,988,403  |   |          |   | 6,905,022  |       |     |   | 7,070,757  |        |   |   | 165,735 |   |
| Crown Corporation Sinking Funds                     |   |                   | (614,041   | )      |          |   | (641,078   | )          |     |   | (648,646   | )           |   |   | (7,568 | ) |
| Crown Corporation Public Debt                       |   |                   | 5,374,362  |   |          |   | 6,263,944  |       |     |   | 6,422,111  |        |   |   | 158,167 |   |
|                                                |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
| Public Debt                                         |   |                   | 9,179,179  |   |          |   | 10,071,534 |       |     |   | 10,226,928 |        |   |   | 155,394 |   |
|                                                |   |                   |       |   |          |   |       |       |     |   |       |        |   |   |   |   |
| Guaranteed Debt                                     |   |                   | 132,014    |   |          |   | 183,067    |       |     |   | 198,361    |        |   |   | 15,294 |   |

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| SUMMARY FINANCIAL STATEMENTINFORMATION  |
|----------------------------------------------|

|  2013-14 SUMMARY FINANCIAL SURPLUS |
|-----------------------------------------|
|                                    |
|                                    | (millions of dollars) |   |   |   |
|                                    | Summary Financial Surplus - Budget Estimate |   |         149.8 |   |
|                                    | Changes from Budget |   |   |   |
|                                    | Treasury Board Organizations |   |   |   |
|                                    |   | GRF Pre-Transfer Surplus |        -  42.0 |   |   |
|                                    |   | Pension Adjustment |      -  104.3 |   |   |
|                                    |   | Regional Health Authorities |       +  34.9 |   |   |
|                                    |   | Other net changes |          -  2.1 |   |   |
|                                    | Treasury Board Organizations |   |      -  113.5 |   |
|                                    | CIC Board Organizations |   |   |   |
|                                    |   | Crown Investments Corporation (Separate) |       +  78.8 |   |   |
|                                    |   | SaskPower |       +  13.9 |   |   |
|                                    |   | SaskTel |        -  13.7 |   |   |
|                                    |   | Other net changes |        -  17.8 |   |   |
|                                    | CIC Board Organizations |   |       +  61.2 |   |
|                                    | Not-for-Profit Insurance Organizations |   |   |   |
|                                    |   | Saskatchewan Crop Insurance Corporation |     +  218.0 |   |   |
|                                    |   | Workers' Compensation Board |     +  103.2 |   |   |
|                                    |   | Saskatchewan Auto Fund |       +  43.0 |   |   |
|                                    |   | Other net changes |         +  5.3 |   |   |
|                                    | Not-for-Profit Insurance Organizations |   |     +  369.5 |   |
|                                    | Total Change from Budget |   |     +  317.2 |   |
|                                    | Summary Financial Surplus - Mid-Year Projection |   |         467.0 |   |

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| SUMMARY STATEMENT OF DEBT |
|---------------------------|
| As at March 31            |
|                      |
|                      |   |   |   |   |   |   | 2013-14 |   |   | Change |   |
|                      |   |   |   | 2012-13 |   |   | Mid-Year |   |   | from |   |
|                      | (millions of dollars) |   | Actual |   |   | Projection |   |   |   | 2012-13 |   |
|                      | GRF Government General Public Debt |   |   | 3,804.8 |   |   |   | 3,804.8 |   |   |   | - |   |
|                      | GRF Crown Corporation Public Debt |   |   | 5,374.4 |   |   |   | 6,422.1 |   |   |   | 1,047.7 |   |
|                      | GRF Public Debt |   |   | 9,179.2 |   |   |   | 10,226.9 |   |   |   | 1,047.7 |   |
|                      | Other Debt |   |   | 268.0 |   |   |   | 515.4 |   |   |   | 247.4 |   |
|                      | Summary Statement Public Debt |   |   | 9,447.2 |   |   |   | 10,742.3 |   |   |   | 1,295.1 |   |
|                      | Guaranteed Debt |   |   | 18.7 |   |   |   | 22.9 |   |   |   | 4.2 |   |

----

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----

| SUMMARY FINANCIAL STATEMENTTABLES |
|-----------------------------------|

----

|   | Summary Statement of Surplus Summary Schedule of Debt |
|--------|------------------------------------------------------------|

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----

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| GOVERNMENT OF SASKATCHEWAN                                        |   |                  |    |   |       |   |    |   |   |
|-------------------------------------------------------------------|--------|-----------------------|---------|--------|------------|--------|---------|--------|--------|
|                                                              |   |                  |    |   |       |   |    |   |   |
| Summary Statement of Surplus                                      |   |                  |    |   |       |   |    |   |   |
|                                                              |   |                  |    |   |       |   |    |   |   |
|                                                              |   | (millions of dollars) |    |
|                                                              |   |                  |    |   | Mid-Year   |   |    |   |   |
|                                                              |   | Estimated             |    |   | Projection |   |    |   |   |
|                                                              |   |                  | 2013-14 |   |       |   | 2013-14 |   |   | Change |   |
|                                                              |   |                  |    |   |       |   |    |   |   |   |   |
| Treasury Board Organizations 1                                    |   |                  |    |   |       |   |    |   |   |   |   |
|                                                              |   |                  |    |   |       |   |    |   |   |   |   |
| General Revenue Fund (GRF)                                        |   |                  | 32.4    |   |       |   | 11.4    |   |   |   | (21.0 | ) |
| Growth and Financial Security Fund                                |   |                  | 32.4    |   |       |   | 11.4    |   |   |   | (21.0 | ) |
| Boards of Education                                               |   |                  | 63.0    |   |       |   | 63.0    |   |   |   | - |   |
| eHealth Saskatchewan                                              |   |                  | (10.8   | )      |       |   | (17.7   | )      |   |   | (6.9 | ) |
| Financial and Consumer Affairs Authority of Saskatchewan          |   |                  | 12.5    |   |       |   | 11.6    |   |   |   | (0.9 | ) |
| Northern Municipal Trust Account                                  |   |                  | (8.4    | )      |       |   | (5.7    | )      |   |   | 2.7 |   |
| Regional Colleges                                                 |   |                  | (4.1    | )      |       |   | (4.1    | )      |   |   | - |   |
| Regional Health Authorities                                       |   |                  | (58.0   | )      |       |   | (23.1   | )      |   |   | 34.9 |   |
| Saskatchewan Agricultural Stabilization Fund                      |   |                  | -       |   |       |   | 3.9     |   |   |   | 3.9 |   |
| Saskatchewan Apprenticeship & Trade Certification Commission  |   |                  | (0.9    | )      |       |   | 1.2     |   |   |   | 2.1 |   |
| Saskatchewan Cancer Agency                                        |   |                  | (3.8    | )      |       |   | (2.4    | )      |   |   | 1.4 |   |
| Saskatchewan Housing Corporation                                  |   |                  | 6.9     |   |       |   | 35.3    |   |   |   | 28.4 |   |
| Saskatchewan Institute of Applied Science and Technology          |   |                  | (0.4    | )      |       |   | (0.4    | )      |   |   | - |   |
| Saskatchewan Liquor and Gaming Authority                          |   |                  | 491.8   |   |       |   | 474.3   |   |   |   | (17.5 | ) |
| Saskatchewan Student Aid Fund                                     |   |                  | (1.5    | )      |       |   | (2.0    | )      |   |   | (0.5 | ) |
| Water Security Agency                                             |   |                  | (4.2    | )      |       |   | (0.6    | )      |   |   | 3.6 |   |
| Other Agencies                                                    |   |                  | (7.9    | )      |       |   | (6.9    | )      |   |   | 1.0 |   |
| Interagency Accounting Adjustments 2                              |   |                  | (30.9   | )      |       |   | (67.7   | )      |   |   | (36.8 | ) |
| Adjustment to Account for Pension Costs on an Accrual Basis       |   |                  | (202.1  | )      |       |   | (306.4  | )      |   |   | (104.3 | ) |
|                                                              |   |                  | 306.0   |   |       |   | 175.1   |   |   |   | (130.9 | ) |
| Dividends included in GRF Surplus 3                               |   |                  | (511.1  | )      |       |   | (493.7  | )      |   |   | 17.4 |   |
| Surplus (Deficit) of Treasury Board Organizations                 |   |                  | (205.1  | )      |       |   | (318.6  | )      |   |   | (113.5 | ) |
|                                                              |   |                  |    |   |       |   |    |   |   |   |   |   |
| Crown Investments Corporation Board Organizations 1               |   |                  |    |   |       |   |    |   |   |   |   |   |
|                                                              |   |                  |    |   |       |   |    |   |   |   |   |   |
| Crown Investments Corporation (Separate) 4                        |   |                  | 45.8    |   |       |   | 124.6   |   |   |   | 78.8 |   |
| Saskatchewan Gaming Corporation                                   |   |                  | 26.4    |   |       |   | 20.6    |   |   |   | (5.8 | ) |
| Saskatchewan Government Insurance                                 |   |                  | 36.5    |   |       |   | 32.1    |   |   |   | (4.4 | ) |
| Saskatchewan Power Corporation                                    |   |                  | 126.1   |   |       |   | 140.0   |   |   |   | 13.9 |   |
| Saskatchewan Telecommunications Holding Corporation               |   |                  | 93.8    |   |       |   | 80.1    |   |   |   | (13.7 | ) |
| SaskEnergy Incorporated                                           |   |                  | 72.4    |   |       |   | 72.0    |   |   |   | (0.4 | ) |
| Other Agencies                                                    |   |                  | 14.2    |   |       |   | 9.8     |   |   |   | (4.4 | ) |
| Interagency Accounting Adjustments 2                              |   |                  | (3.7    | )      |       |   | (3.7    | )      |   |   | - |   |
|                                                              |   |                  | 411.5   |   |       |   | 475.5   |   |   |   | 64.0 |   |
| Dividends included in GRF Surplus 3                               |   |                  | (196.6  | )      |       |   | (199.4  | )      |   |   | (2.8 | ) |
| Retained Surplus of CIC Board Organizations                       |   |                  | 214.9   |   |       |   | 276.1   |   |   |   | 61.2 |   |
|                                                              |   |                  |    |   |       |   |    |   |   |   |   |   |
| Surplus (Deficit) Prior to Not-for-Profit Insurance Organizations |   |                  | 9.8     |   |       |   | (42.5   | )      |   |   | (52.3 | ) |

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| GOVERNMENT OF SASKATCHEWAN                                        |
|-------------------------------------------------------------------|
|                                                              |   |   |   |   |   |   |   |   |   |
| Summary Statement of Surplus                                      |
|                                                              |   |   |   |   |   |   |   |   |   |
|                                                              |   | (millions of dollars) |   |
|                                                              |   |   |   |   | Mid-Year |   |   |   |   |
|                                                              |   | Estimated |   |   | Projection |   |   |   |   |
|                                                              |   |   | 2013-14 |   |   |   | 2013-14 |   |   | Change |   |
|                                                              |   |   |   |   |   |   |   |   |   |   |   |
| Surplus (Deficit) Prior to Not-for-Profit Insurance Organizations |   |   | 9.8 |   |   |   | (42.5 | ) |   |   | (52.3 | ) |
|                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Not-for-Profit Insurance Organizations 1,3                        |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Saskatchewan Auto Fund                                            |   |   | (16.8 | ) |   |   | 26.2 |   |   |   | 43.0 |   |
| Saskatchewan Crop Insurance Corporation                           |   |   | 90.4 |   |   |   | 308.4 |   |   |   | 218.0 |   |
| Crop Reinsurance Fund of Saskatchewan                             |   |   | 36.9 |   |   |   | 42.2 |   |   |   | 5.3 |   |
| Workers' Compensation Board                                       |   |   | 29.5 |   |   |   | 132.7 |   |   |   | 103.2 |   |
| Surplus (Deficit) of Not-for-Profit Insurance Organizations       |   |   | 140.0 |   |   |   | 509.5 |   |   |   | 369.5 |   |
|                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Surplus (Deficit)                                                 |   |   | 149.8 |   |   |   | 467.0 |   |   |   | 317.2 |   |

| 1 |  The year-end for some organizations is not March 31. The 2013-14 Estimated amounts for those organizations are the Estimated amounts for the fiscal year ending before March 31, 2014. Some items are reclassified to conform with the current year presentation. |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2 |  Interagency Accounting Adjustments eliminate the effects of financial transactions between agencies and adjust for accounting standards that differ from those used in the Summary Financial Statements.                                                          |
| 3 |  Dividends paid to the General Revenue Fund (GRF) by Treasury Board organizations and Crown Investments Corporation organizations. The dividends are eliminated to avoid double counting income. Insurance organizations do not pay dividends to the GRF.          |
| 4 |  Crown Investments Corporation (Separate) is shown before dividend revenue from its subsidiaries to avoid double counting income.                                                                                                                                  |

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| GOVERNMENT OF SASKATCHEWAN                     |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |
|------------------------------------------------|--------|-----------------------|---------|--------|---------------|--------|----------|----------|---------------------|--------|-------------|--------|--------|--------|--------|--------|--------|--------|
|                                           |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |
| Summary Schedule of Debt                       |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |
| As at March 31                                 |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |
|                                           |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |
|                                           |   | (millions of dollars) |    |
|                                           |   |                  |    |   |  2013-14 |   | Mid-Year |     |
|                                           |   |                  | 2012-13 |   |          | Budget |     |     | Mid-Year Projection |   | Change from |   |
|                                           |   | Actual                |    |   | Estimate      |   |     | GRF Debt |                |   | Other Debt  |   |   | Debt   |   |   | Budget |   |
| Treasury Board Organizations                   |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |   |   |
| Government Public Debt                         |   |                  | 3,804.8 |   |          |   | 3,807.6  |     |                |   | 3,804.8     |   |   |   | -      |   |   |   | 3,804.8 |   |   |   | (2.8 | ) |
| Boards of Education                            |   |                  | 80.6    |   |          |   | 92.6     |     |                |   | -           |   |   |   | 199.0  |   |   |   | 199.0 |   |   |   | 106.4 |   |
| Global Transportation Hub Authority            |   |                  | -       |   |          |   | 30.0     |     |                |   | -           |   |   |   | 23.6   |   |   |   | 23.6 |   |   |   | (6.4 | ) |
| Growth and Financial Security Fund             |   |                  | (41.8   | )      |          |   | (41.9    | )        |                |   | -           |   |   |   | (22.8  | )      |   |   | (22.8 | ) |   |   | 19.1 |   |
| Liquor and Gaming Authority                    |   |                  | 125.1   |   |          |   | 125.0    |     |                |   | 125.0       |   |   |   | -      |   |   |   | 125.0 |   |   |   | - |   |
| Municipal Financing Corporation                |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    of Saskatchewan              |   |                  | 147.7   |   |          |   | 247.9    |     |                |   | 257.9       |   |   |   | -      |   |   |   | 257.9 |   |   |   | 10.0 |   |
| Regional Health Authorities                    |   |                  | 91.0    |   |          |   | 109.0    |     |                |   | -           |   |   |   | 115.0  |   |   |   | 115.0 |   |   |   | 6.0 |   |
| Saskatchewan Housing Corporation               |   |                  | 31.8    |   |          |   | 29.1     |     |                |   | 23.6        |   |   |   | 5.1    |   |   |   | 28.7 |   |   |   | (0.4 | ) |
| Water Security Agency                          |   |                  | 12.5    |   |          |   | 21.9     |     |                |   | -           |   |   |   | 20.0   |   |   |   | 20.0 |   |   |   | (1.9 | ) |
| Other Treasury Board Organizations             |   |                  | 1.1     |   |          |   | 2.4      |     |                |   | -           |   |   |   | 1.0    |   |   |   | 1.0 |   |   |   | (1.4 | ) |
| Public Debt of Other                           |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Treasury Board Organizations |   |                  | 448.0   |   |          |   | 616.0    |     |                |   | 406.5       |   |   |   | 340.9  |   |   |   | 747.4 |   |   |   | 131.4 |   |
| Public Debt of Treasury Board Organizations    |   |                  | 4,252.8 |   |          |   | 4,423.6  |     |                |   | 4,211.3     |   |   |   | 340.9  |   |   |   | 4,552.2 |   |   |   | 128.6 |   |
|                                           |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CIC Board Organizations                        |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Information Services Corporation               |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    of Saskatchewan              |   |                  | 9.9     |   |          |   | 9.9      |     |                |   | -           |   |   |   | -      |   |   |   | - |   |   |   | (9.9 | ) |
| Saskatchewan Gaming Corporation                |   |                  | 11.8    |   |          |   | 10.4     |     |                |   | 6.0         |   |   |   | 4.4    |   |   |   | 10.4 |   |   |   | - |   |
| Saskatchewan Immigrant Investor Fund           |   |                  | 107.5   |   |          |   | 146.0    |     |                |   | -           |   |   |   | 165.3  |   |   |   | 165.3 |   |   |   | 19.3 |   |
| Saskatchewan Opportunities Corporation         |   |                  | 35.3    |   |          |   | 34.9     |     |                |   | 34.8        |   |   |   | -      |   |   |   | 34.8 |   |   |   | (0.1 | ) |
| Saskatchewan Power Corporation                 |   |                  | 3,346.9 |   |          |   | 3,983.1  |     |                |   | 4,188.7     |   |   |   | -      |   |   |   | 4,188.7 |   |   |   | 205.6 |   |
| Saskatchewan Telecommunications                |   |                  | 652.8   |   |          |   | 711.6    |     |                |   | 727.6       |   |   |   | -      |   |   |   | 727.6 |   |   |   | 16.0 |   |
| Saskatchewan Water Corporation                 |   |                  | 48.2    |   |          |   | 62.2     |     |                |   | 45.0        |   |   |   | -      |   |   |   | 45.0 |   |   |   | (17.2 | ) |
| SaskEnergy Incorporated                        |   |                  | 982.0   |   |          |   | 1,064.1  |     |                |   | 1,013.5     |   |   |   | 4.8    |   |   |   | 1,018.3 |   |   |   | (45.8 | ) |
| Public Debt of CIC Board Organizations         |   |                  | 5,194.4 |   |          |   | 6,022.2  |     |                |   | 6,015.6     |   |   |   | 174.5  |   |   |   | 6,190.1 |   |   |   | 167.9 |   |
|                                           |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Public Debt                                    |   |                  | 9,447.2 |   |          |   | 10,445.8 |     |                |   | 10,226.9    |   |   |   | 515.4  |   |   |   | 10,742.3 |   |   |   | 296.5 |   |
|                                           |   |                  |    |   |          |   |     |     |                |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Guaranteed Debt                                |   |                  | 18.7    |   |          |   | 37.9     |     |                |   | 198.4       |   |   |   | (175.5 | )      |   |   | 22.9 |   |   |   | (15.0 | ) |

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----