Conifex Timber Inc. (CFF) Earnings Call Transcript & Summary

Good afternoon. Welcome to the Conifex Timber Annual Meeting of Stockholders. Please note, this event is being recorded. I would now like to turn the conference over to Ken Shields. Please go ahead.

Well, thank you, Gary, and good afternoon, everyone. My name is Ken Shields, and I'm the Chairman and CEO of Conifex. In accordance with our bylaws, I will act as Chairman. I will now call the meeting to order. Most of our shareholders are joining us today by teleconference instead of attending in person. I'd like to thank those of you who have called in today to listen in on our meeting. I'd like to appoint Trevor Pruden, our Chief Financial Officer as Secretary; Gary Gill of Sangra Law Firm as Recording Secretary and Loretta Pataki of Computershare Investor Services as the scrutineer. If anyone hasn't registered with the scrutineer, please do so now. I have a copy of the notice calling this meeting and an affidavit of mailing of [ Michael Kiami ] of Computershare Trust Company of Canada. Since notice of this meeting has been circulated, I will dispense with the reading of the notice calling this meeting. In accordance with the Canada Business Corporations Act, the notice of meeting and record date was also published in The Globe and Mail newspaper on April 27, 2026. Turning to the scrutineer's report. It indicates that there are 28 shareholders present in person or by proxy totaling 11,649,303 shares, which represents approximately 28.57% of our 40,767,710 outstanding shares as of the record date. In accordance with our bylaws, I declare that a quorum of shareholders is present, and this meeting is regularly and duly called and constituted and ready for the transaction of business. I now propose to deal with the items of business described in the notice. The first item is the presentation of our financial statements for the financial year ended December 31, 2025 and the accompanying auditor's report as well as the presentation of the financial statements for the financial period ended March 31, 2026. Copies of these statements have been mailed to all shareholders entitled to copies. The next item of business is the election of directors, Dave Roberts, Michael Costello, Janine North and myself, Ken Shields, are prepared to stand for election as directors and are being nominated for election. Each director will serve until the next Annual General Meeting of Shareholders, unless that Director resigns or until the director sooner ceases to hold office. Pursuant to the advanced notice provisions of our bylaws, there can be no further nominations put forward at this time. Accordingly, I declare the nominations closed. I will now make a motion for the election of the 4 nominees as directors on the following terms. Resolve that each of the nominees be and are hereby elected directors of Conifex to hold office until the next AGM unless a director's office is earlier vacated in accordance with the articles or bylaws of the Canada Business Corporations Act or unless he or she becomes disqualified to act as a director. All in favor, please signify by raising your hand. I declare the motion carries. The next item of business is the appointment and compensation of Conifex's auditor. The Board wishes to reappoint PricewaterhouseCoopers for the ensuing year, and such firm has consented to its reappointment. I now make a motion that PricewaterhouseCoopers be appointed as auditor of Conifex for the ensuing year and that the Board be granted their authorization to fix the remuneration. All in favor, please signify by raising your hand. I declare the motion carried. As there is nothing else on the agenda for today's meeting, I now make a motion that the meeting be terminated. All present and in favor signified by raising your hand. Contrary? I declare the motion carried. This meeting is terminated, and thank you for your attendance. I'll now turn the call back to Gary, our operator.

The conference has now been completed. Thank you for attending today's presentation. You may now disconnect.