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ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV

n. 1 Lemen SIM 50.m % 1014 49 3,8 2.4 01 10.18% 101% 3.17% 343% 3.17% 3.41% 101% 175% 120% EFTA00307481 RESEARCH IN MOTION LIMITED (NASDAQGS:RINIS) Immg r.h In Mk .0 I onr.°. 3I. 4,51015. nunnhavies. aed nurkels airobu «Ohms lat Ob artlebak timbde ottunincanms ~ka Tbc ettiyany.thunh deul

ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV

n. 1 Lemen SIM 50.m % 1014 49 3,8 2.4 01 10.18% 101% 3.17% 343% 3.17% 3.41% 101% 175% 120% EFTA00307380 RESEARCH IN MOTION LIMITED (NASDAQGS:RINIS) Immg r.h In Mk .0 I onr.°. 3I. 4,51015. nunnhavies. aed nurkels airobu «Ohms lat Ob artlebak timbde ottunincanms ~ka Tbc ettiyany.thunh deul

ION REPORT As of Julie 2o, 2011 CONCLUSION Based on the information provided and the analysis conducted, and subject to the attached Statement of Limiting Conditions, it is our opinion that one common share of the Company as of the Valuation Date should be valued as follows: $0.77 (rounded) ZERO DOLLARS AND SEV

n. 1 Lemen SIM 50.m % 1014 49 3,8 2.4 01 10.18% 101% 3.17% 343% 3.17% 3.41% 101% 175% 120% EFTA00307279 RESEARCH IN MOTION LIMITED (NASDAQGS:RINIS) Immg r.h In Mk .0 I onr.°. 3I. 4,51015. nunnhavies. aed nurkels airobu «Ohms lat Ob artlebak timbde ottunincanms ~ka Tbc ettiyany.thunh deul