Canaccord Financial Inc: Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARING MANAGERIAL

                     RESPONSIBILITY AND CONNECTED PERSONS                      

Annex DTR3

1.   Name of the issuer               2.    State whether the notification     
                                            relates to (i) a transaction       
     CANACCORD FINANCIAL INC.               notified in accordance with DTR    
                                            3.1.2 R, (ii) a disclosure made in 
                                            accordance with LR 9.8.6R(1) or    
                                            (iii) a disclosure made in         
                                            accordance with section 793 of the 
                                            Companies Act (2006).              
                                                                               
                                            DTR 3.1.2 R                        

3. Name of person discharging 4. State whether notification relates

     managerial responsibilities/           to a person connected with a person
     director                               discharging managerial             
                                            responsibilities/director named in 
     PETER M. BROWN                         3 and identify the connected person
                                                                               
                                            SPOUSE- JOANNE BROWN               

5. Indicate whether the 6. Description of shares (including

     notification is in respect of a        class), debentures or derivatives  
     holding of the person referred         or financial instruments relating  
     to in 3 or 4 above or in respect       to shares                          
     of a non-beneficial interest                                              
                                            COMMON SHARES                      
     NOTIFICATION RELATES TO THE                                               
     PERSONS NAMED IN 4.                                                       

7. Name of registered shareholders 8 State the nature of the transaction

     (s) and, if more than one, the                                            
     number of shares held by each of       SALE IN OPEN MARKET                
     them                                                                      
                                                                               
     PETERM. BROWN: 1,221,946                                                  

9. Number of shares, debentures or 10. Percentage of issued class acquired

     financial instruments relating         (treasury shares of that class     
     to shares acquired                     should not be taken into account   
                                            when calculating percentage)       
     N/A                                                                       
                                            N/A                                

11. Number of shares, debentures or 12. Percentage of issued class disposed

     financial instruments relating         (treasury shares of that class     
     to shares disposed                     should not be taken into account   
                                            when calculating percentage)       
     15,000 COMMON SHARES                                                      
                                            0.015%                             

13. Price per share or value of 14. Date and place of transaction

     transaction                                                               
                                            FEBRUARY 25, 2013                  
     $7.37CANADIAN                                                             
                                            VANCOUVER, CANADA                  

15. Total holding following 16. Date issuer informed of transaction

     notification and total                                                    
     percentage holding following           FEBRUARY 25, 2013                  
     notification (any treasury                                                
     shares should not be taken into                                           
     account when calculating                                                  
     percentage)                                                               
                                                                               
     PETER M. BROWN: 1,206,946/1.18%                                           

If a person discharging managerial responsibilities has been granted options by
the issuer complete the following boxes

17   Date of grant                    18.  Period during which or date on     
                                           which exercisable                  

19. Total amount paid (if any) for 20. Description of shares or debentures

grant of the option involved (class and number)

21. Exercise price (if fixed at time 22. Total number of shares or

     of grant) or indication that          debentures over which options held 
     price is to be fixed at the time      following notification             
     of exercise                                                              

23.  Any additional information       24.  Name of contact and telephone      
                                           number for queries                 
     NONE                                                                     
                                           MARTIN MacLACHLAN                  
                                                                              
                                           1-416-867-6078                     

Name of authorised official of issuer responsible for making notification      

MARTIN MacLACHLAN,GENERAL COUNSEL AND CORPORATE SECRETARY

Date of Notification FEBRUARY 26, 2013

Notes: This form is intended for use by an issuer to make a RIS notification required by DTR 3.1.4.

(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.

(3) An issuer making a notification in respect of options granted to a director /person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

END

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