Good morning. My name is Camilo Lyon, Chief Investment Officer of Curaleaf Holdings Inc, and on behalf of our management and directors, I would like to welcome you to the annual general meeting of shareholders of Curaleaf Holdings Inc. I will be acting as chair of the meeting today. On behalf of the board, I wish to express thanks to those shareholders who have submitted their proxies in advance of today's meeting. This year again, the meeting is being held virtually via live and webcast only. The company views the use of technology-enhanced shareholder communications as a method to facilitate individual investor participation, making the meeting more accessible and engaging for all involved by permitting a broader base of shareholders to participate in the meeting, which is consistent with the goals of the regulators, stakeholders, and others invested in the corporate governance process.
As this meeting is being held virtually via live webcast, we think it is necessary to set a few ground rules for the orderly conduct of the meeting. One, registered shareholders and duly appointed proxy holders who wish to communicate with the members of the management team and the board, or who wish to present or ask a question in respect of a motion, may do so using instant messaging on the Lumi virtual interface. Two, as described in our management proxy circular, duly appointed proxy holders were required to register with their transfer agent and obtain a control number prior to this meeting in order to participate, vote, and ask questions during the meeting. Three, when asking a question, please indicate which entity you represent, if any, and confirm that you are a registered shareholder or duly appointed proxy holder.
Four, questions asked during the meeting will only be addressed at the end of the meeting unless they relate to procedural matters or are directly related to the motions presented before the meeting. Five, questions or comments containing inappropriate language or that are otherwise disruptive to the orderly conduct of the meeting for all shareholders will not be answered. Six, questions which were already answered or that are redundant or repetitive will not be answered. Seven, for the purposes of the meeting today, voting on all matters will be conducted by a single. This will allow you to choose to vote on each resolution as soon as voting opens or wait until the conclusion of the discussion on each resolution prior to casting your votes. Only registered shareholders and duly appointed proxy holders of the company are permitted to participate in the voting.
Please note that only registered holders of subordinate voting shares and multiple voting shares of record as of April 29th, 2025, or their duly appointed proxy holders are permitted to participate, ask questions, and vote at this meeting. The formal part of the meeting should last around 20 minutes. We will end the meeting with a short moderated questions and answers period to answer a few questions from shareholders. It should be noted that based on the proxies already received by the company prior to the meeting, the required level of shareholders' approval to adopt each of the resolutions to be presented to the shareholders at today's meeting has already been obtained. To expedite the formal part of the meeting, I will move and second all motions as permitted under the company's articles. We will now proceed to the formal portion of today's meeting.
Please note that voting is now open and will remain open throughout the formal portion of the meeting. I call to order the annual general meeting of the company's shareholders. With the consent of the meeting, I appoint Peter Clateman, Chief Legal Officer, to act as secretary of the meeting. In addition, and with the consent of the meeting, I appoint Odyssey Trust Company through Paul Keyes as scrutineer. The scrutineer will report on the number of subordinate voting shares and multiple voting shares represented in person and by proxy at this meeting, tabulate the votes, and report the results. The scrutineer has provided me with a copy of the report which indicates that at least two shareholders of the company are present, represented by proxy. This meets the quorum requirements in the company's articles, and as such, we are permitted to proceed with the meeting.
A copy of the final report on attendance will be filed with records of the meeting. I refer to the certificate of our transfer agent to Odyssey Trust Company, indicating that proper notice of the meeting has been given in accordance with the applicable corporate and securities laws and the articles of the company. Accordingly, unless there is an objection, I will dispense with the reading of the notice of the meeting. I direct that a copy of the notice with proof of mailing be kept by the secretary with the records of the meeting. The purposes of today's meeting are set out in detail in the management information circular dated April 29, 2025. Copies of the circular were made available to shareholders on or around May 14th, 2025.
Together with the notice of the meeting and the formal proxy, copies of the management information circular and other meeting materials are available under the company's profile under the SEDAR+ website. For the purposes of today's meeting, voting on all matters will be conducted by a single ballot. Registered shareholders and duly appointed proxy holders will be asked to vote on each business item after the presentation of all such business items. After you have registered your votes for all business items of today's meeting, the scrutineer will compile the votes in respect of each business item. You should know that proxies lodged before this meeting allow management of the company to cast a significant number of votes.
Based on the number of shares represented at this meeting, the members of the management here with me today will be able to determine the outcome of all motions that will go to a vote today. I may therefore declare the motions which will go to a vote today as carried. Even though all the votes may not have been counted or a final report may not yet be available, I shall do this to keep up the pace of the meeting. Under the company's articles, the chair of the meeting can propose motions and no motion proposed at a meeting of shareholders is required to be seconded. In order to expedite the meeting, I will propose certain motions and will not call for the seconder, but this is in no way intended to inhibit any questions or discussion with respect to the motion.
I now declare that this meeting was properly called and duly constituted for the transaction of business. The first item of business is the presentation of the company's consolidated financial statements for the fiscal year ended December 31, 2024, as well as the auditor's report thereon. These financial statements and the auditor's report were made available on the SEDAR+ website under the company's profile on March 3rd, 2025. The financial statements were also made available on a dedicated site hosted by our transfer agent, Odyssey Trust Company, as required under the notice and access regime. Unless there is an objection, I will dispense with the reading of the auditor's report. We will entertain any questions with respect to the financial statements in the general question period. We now move to the next item on today's agenda.
The articles of the company require a minimum of three directors of the company. There are currently eight directors of the company. At this meeting, it is proposed that six directors be re-elected. Mr. Peter Derby and Dr. Jaswinder Grover will retire from the board at the conclusion of the meeting and are therefore not standing for re-election at the meeting. On behalf of the board of directors of the company, I would like to extend our most heartfelt gratitude to them for their service and dedication to the company over the last several years. I now move to set the number of directors on the board of directors of the company at 10.
In accordance with the articles of the company, the board will have discretion to select suitable candidates and appoint them as directors of the company to fill in the four vacancies that will remain following the meeting, and such directors will hold office until the next annual general meeting of the shareholders or until they are otherwise replaced. The motion is now on the floor. Is there any discussion on the motion? As mentioned at the beginning of this meeting, voting today will be conducted by a single electronic ballot. Unless there are any questions or discussions, we will now continue with the next item of business. The next matter to be acted upon is the election of six individuals to the board of directors.
The term of office of the directors is from today until the next annual general meeting of shareholders or until such time as their successors have been duly elected or appointed. The circular contains information on each of the six nominees recommended for election as directors. As outlined in the circular, the following individuals have each been nominated to hold office until the close of the next annual general meeting of the shareholders or until their successors are duly elected or appointed. They are Boris Jordan, currently the Chair of the Board and Chief Executive Officer of the company, Joseph Lusardi, currently the Executive Vice Chair of the Board, Karl Johansson, Mitchell Kahn, Shasheen Shah, and Michelle Bodner. Each of the persons nominated has confirmed that he or she is prepared to serve as a director.
Each of them qualifies to serve as a director under the provisions of the British Columbia Business Corporations Act. Given that no nominations were received in accordance with the provisions contained in the company's articles, I declare the nominations to be closed. As set forth in the circular. The motion is now on the floor. Proxies have been solicited for each of the six proposed qualified persons listed in the circular. The form of proxy for voting on the election of directors sets out each proposed nominee separately and allows shareholders to vote for each director individually. Is there any discussion on the motion? As mentioned at the beginning of this meeting, voting today will be conducted by a single electronic ballot. Unless there are any questions or discussions, I will now move to the next item of business.
The next item of business is the appointment of the auditors of the company for the ensuing year and to authorize the directors of the company to fix the remuneration of the auditors. I move that PKF O'Connor Davies LLP, be appointed auditors of the company until the next annual general meeting of the shareholders and that the directors be authorized to fix the remuneration. Is there any discussion on the motion? As previously mentioned, voting today is conducted by a single electronic ballot. Voting opened at the beginning of the formal part of the meeting. If you have not yet cast your vote in respect of each of today's business items for this meeting, please do so now.
Please register your votes by accessing the voting page when prompted and by pressing on the for or against buttons next to the resolution with respect to the setting of the number of directors of the company of 10, and by pressing on the for or withhold buttons next to the name of each proposed director and next to the resolution with respect to the appointment of PKF O'Connor Davies LLP, as the company's auditors. Once the electronic balloting closes, the voting page will disappear and your votes will be automatically submitted. We will wait a few minutes for the completion of the electronic ballots and then move on with the remainder of the meeting. We will provide registered shareholders and duly appointed proxy holders approximately one minute to complete their electronic ballots.
Once voting is completed, I would ask that the scrutineer compile a preliminary report on ballots regarding the preliminary results of voting on all business matters. Now that voting is completed, we'll take a short break of a minute or two so that the scrutineer can compile preliminary ballot results. We will reconvene in a few minutes with the scrutineer's preliminary ballot results. Once the preliminary results have been compiled, Paul Keyes from Odyssey Trust Company will announce them.
Thank you for waiting. In my capacity as scrutineer of this meeting, I am pleased to confirm the following: the number of directors of the company has been set at 10. Each of the six nominees have been elected as directors of the company to serve until the next annual general meeting of shareholders or until their successors are elected or appointed.
The appointment of PKF O'Connor Davies LLP, as the auditors of the company has been approved, and the board of directors of the company has been authorized to fix their remuneration.
Thank you, Mr. Keys. I direct that the results of the poll be included in the minutes of this meeting. If there is no further business to be brought before the meeting, I move that the formal portion of today's meeting be concluded, and I now declare the formal part of the meeting closed. We will now open the floor for a question and answer period. I ask that all attendees who would like to ask a question use the instant messaging feature of the virtual platform to do so. We will answer as many questions as time permits.
When asking your question, please state your name, the entity you represent, if any, and confirm if you are a registered shareholder or a duly appointed proxy holder. Please limit your questions to the topics relating to today's subject matter and keep your questions short and to the point. There being no questions, we are now concluding the question and answer portion of this meeting. On behalf of management, our board of directors and employees, I would like to take the opportunity to thank everyone for attending the meeting today. I would like to thank all of our shareholders for their commitment and continued support. We look forward to your attendance again next year. We encourage all shareholders to regularly consult investors' presentations that will be published to the investor relations section of our website at www.curaleaf.com.