Good morning. I'd like to welcome everyone and introduce myself. I'm Thomas J. Hofstedter, CEO and a trustee of the REIT. As you are aware, this is a virtual unit holders meeting. The REIT has decided this virtual-only format allows us to reach the greatest number of our unit holders as possible, as it gives registered unit holders and duly appointed proxy holders an opportunity to attend regardless of their geographic location. We thank you for joining us. We have ensured that this virtual meeting offers unit holders and duly appointed proxy holders the opportunity to participate at the meeting. As in past years, we expect that the vast majority of all votes have been cast in advance of the meeting by proxy. Registered unit holders and duly appointed proxy holders will be allowed to vote online at the meeting in accordance with the instructions to be provided.
Only duly appointed proxy holders and validated unit holders may ask questions in the designated field on the web portal. Out of consideration for others, please limit yourselves to one question. Questions can be submitted by typing the text of your question in the Ask a Question box and clicking the Submit button. Given the virtual format of the meeting and in order for us to expediently undertake discussions on any matter proposed for a vote, we ask that any questions or comments you have that specifically relate to a formal item of business be submitted now. When doing so, please make sure you clearly identify the applicable formal item of business to which your submission relates. During the course of this meeting, such submissions will be addressed at the appropriate time prior to voting on the applicable motion.
A general question-and-answer session will be held following the end of the formal meeting. Before beginning the meeting, I'd like to remind unit holders that certain statements in responses to questions that arise in today's meeting may contain forward-looking information which reflect the current expectations of management regarding future events and performance. Based on assumptions by management are subject to risks and uncertainties that could cause actual results to differ materially. I'm speaking only as of today's date. The material factors and assumptions applied by management when making forward-looking statements include the factors and assumptions identified in the REIT's filings on SEDAR+. I now call the meeting to order. With the consent of the trustees of the REIT and of the meeting, I will act as chair of the meeting.
Jeremy Ozier of Blake, Cassels & Graydon, legal counsel to the REIT, will act as Secretary of the meeting and Broadridge Investor Communications Corporation by its representatives will act as scrutineer at the meeting. The notice calling the meeting and the other requisite material has been sent to those persons as required. The reading of the notice of meeting will accordingly be waived. I have received the scrutineer's preliminary report on attendance. The preliminary scrutineer's report indicates that there are not less than two unit holders or property holders present and holding or representing in the aggregate not less than 25% of the combined total number of outstanding units and special voting units of the REIT enjoying voting rights at this meeting. I declare a quorum for the meeting to be present. I declare the meeting to be regularly constituted.
I now like to refer you to the financial statements of the REIT for the financial year ended December 31st, 2025, together with the reports of the auditors thereon and management's report to the unit holders. I do not propose that these statements or reports be read. They are publicly available and have been sent to unit holders through notice and access. I will now present the matters to be voted upon at the meeting, being the election of the trustees, the appointment and remuneration of auditors, and the advisory vote regarding executive compensation. The voting at today's meeting will be conducted by online ballot for all matters. If you are a registered unit holder that has already submitted a completed proxy, there is no need for you to vote online, as your vote will be recorded at once with the proxy instructions.
However, if you wish to change your vote or if you are a registered unit holder or duly appointed proxy holder that has not already voted, you may view your available voting options and submit your vote by clicking on the Vote Here button on your screen and selecting one of the voting choices displayed on your screen. The polls will be open for all items of business to be voted on at the same time. This will allow you to vote on each item immediately, or if you prefer, you may wait until the conclusion of the discussion on each item prior to casting your vote. The polls will close immediately following the conclusion of the last matter of regular business. If they've not already done so, unit holders and duly appointed proxy holders wishing to submit questions or comments specific to these motions should do so now.
Appropriate questions or comments will be read and responded to prior to the close of voting on these matters. Once the discussion has concluded on all items of business, we will pause briefly so you can enter your votes. I will then declare voting closed on all matters of business. The results of the votes will be announced after the close of the meeting. I now declare the polls open on all items of business. I'll now proceed with the election of the trustees of the REIT for the coming year. At this juncture, I'd like to recognize each of Leonard Abramsky, Jennifer Chasson, and Donald Clow, who are not standing for re-election. I am pleased to advise that all the remaining current board members are standing for re-election. The number of trustees of the REIT to be elected today has been set by the board as 7.
The REIT nominees, including myself, Thomas J. Hofstedter, Lindsay Brand, Mark Cowie, Stephen Gross, Brenna Haysom, Julie Morrow, and Marvin Rudner, are to be elected at the meeting to hold office until the close of the 2027 annual meeting of unit holders of the REIT. As the REIT did not previously receive timely notice of any further nominations of persons for election as trustees of the REIT, as required by the advance notice provisions of the REIT's declaration of trust, I declare the nominations closed. I will ask someone to nominate the REIT trustees.
I nominate Lindsay Brand, Mark Cowie, Stephen Gross, Brenna Haysom, Thomas J. Hofstedter, Julie Morrow, and Marvin Rudner as trustees of the REIT for the term as previously stated.
Thank you. Mr. Levine, have any questions or comments coming from unit holders specifically on this item?
Mr. Chairman, I confirm that we have not received any questions or comments from unit holders specifically relating to this item.
Thank you. We will now proceed to the next item of business. The next item of business is appointment of auditors of the REIT for the current year at such remuneration as may be fixed by the trustees of the REIT. I'll now ask that someone move a resolution to appoint the REIT's current auditors, KPMG LLP.
I move that KPMG be appointed auditors of the REIT to hold office until the close of the next annual meeting of unit holders at such remuneration as may be fixed by the trustees of the REIT.
Thank you. Mr. Levine, any questions or comments coming from unit holders specifically on this item?
Mr. Chairman, I confirm that we have not received any questions or comments from unit holders specifically relating to this item.
Thank you. We'll now proceed to the next item of business. The next item of business to consider and if deemed advisable, approve the non-binding advisory resolution to accept approach to executive compensation as disclosed in the Management Information Circular dated March 16th, 2026. I'll now ask that someone move a resolution approving the non-binding advisory resolution.
I move that the unitholders adopt the following resolution. Resolved on an advisory basis and not to diminish the role and responsibilities of the board of trustees, that the unitholders accept the approach to executive compensation disclosed in the Management Information Circular delivered in advance of the 2026 annual meeting of unitholders.
Thank you, Mr. Levine. Any questions or comments in from unitholders specifically on this item?
Mr. Chairman, I confirm that we have not received any questions or comments from unitholders specifically related to this item.
Thank you. As everyone has had the opportunity to vote, I declare the polls for the 2026 annual meeting of unitholders of the REIT closed. The scrutineer has provided me with the preliminary voting results regarding the matters put to a vote at this meeting based on the preliminary scrutineer's report, which has been approved, and all matters have been passed with the requisite level of unitholder approval. Accordingly, I declare that each of those individuals nominated as trustees are elected as trustees. The auditors we appointed with the board being authorized to fix such auditors remuneration and the non-binding advisory resolution to accept the approach to executive compensation has been approved.
The specific results of the individual votes for each trustee and the results for other resolutions will be reported as part of the final voting results filed under applicable securities legislation. Mr. Levine, any further business?
Mr. Chairman, I confirm that we have not received any comments from unitholders specifically relating to additional items of business that may be properly brought before this meeting.
Thank you. There being no further business to come before the meeting, the formal portion of the 2026 annual meeting of unitholders of the REIT is now terminated. We would now like to open the meeting up for unitholders' questions and comments. Mr. Levine will read any unitholders' questions that have been submitted, and will you please answer them at this time.
I confirm that we have not received any questions or comments from unitholders relating to this part of the meeting.
Thank you. This concludes the question and answer period and formal business portion of the meeting. I would now like to thank you on behalf of the board of trustees and management of the REIT for joining us today. Thank you.
This now concludes the meeting. Thank you for joining, and have a pleasant day.