Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL

RESPONSIBILITY AND CONNECTED PERSONS TORONTO, March 18, 2013 - Canaccord Financial Inc. (the "Company") announcesthat on March 15, 2013, the following independent directors were grantedDeferred Share Units ("DSUs"). A DSU is a book-keeping entry that tracks thevalue of one common share of the Company. DSUs are paid out in cash when thedirector leaves the board of directors of the Company but does not give anyrights to receive common shares. The value of the DSUs at the date of grant(based on a ten day volume average weighted price) was $7.4001 Canadian dollarsper DSU. Name of Director Number of DSUs awarded Charles Bralver 77.27 Massimo Carello 39.56 William Eeuwes 79.08 Michael Harris 173.93 Terrence Lyons 94.45 For more information: Martin MacLachlan

General Counsel and Corporate Secretary

Canaccord Financial Inc. (416) 867-6078 Toronto, Canada