Maxim Power Corp. ($MXG)

Good morning, everyone, and welcome to the 2026 Annual General Meeting of the Shareholders of Maxim Power Corporation. My name is Bob Emmott. I'm the President and CEO of the Corporation. I will be serving as Chairman of this meeting and will ask Casey Parks to act as Secretary of the meeting. I would like -- I would now like to request the meeting come to order. Before we proceed with the formal business of today's meeting, I would like to introduce the members of the Board of directors present today in person and on the telephone. Wiley Auch, W. Brett Wilson, Brad Wall, who's on the phone; and Andrea Whyte. Unfortunately, Bruce Chernoff and Mike Mayder are unable to attend and send their regards and regrets. With consent of the meeting, I appoint Donald Santini of Computershare Trust Company of Canada to act as scrutineer of the meeting to report on the number of common shares represented in person or by proxy at this meeting and to compute the votes of any ballot or poll taken at this meeting and to report thereon to the Chairman. Secretary has advised that she has received a declaration from the scrutineer, stating that the shareholders have been sent notice of the meeting in advance, of the time required for such notice and the scrutineer has also advised that quorum is present. The scrutineers will be available report will be available from the Secretary and I further direct that the report of the scrutineer be attached to the minutes of this meeting as a schedule. I now declare that this meeting has been regularly called and is properly constituted for the transaction of business. I propose to conduct each resolution vote by a show of hands, unless a ballot is requested, other than in respect of the individual voting for directors, which will be conducted by way of ballot. First item of business is the presentation of the 2025 audited consolidated financial statements of the corporation for the year ended December 31, 2025, and the report of the auditor by our auditor thereon. A copy of such financial statements and the report of the auditor has been sent to registered shareholders and to those nonregistered beneficial owners who had requested a copy. No vote by the shareholders is required or proposed to be taken with respect to the financial statements. The next item of business is to approve an ordinary resolution to fix the number of directors of Maxim to be elected at this meeting for the ensuing year.

Mr. Chairman, I move that the number of directors to be elected at the [indiscernible] consuming year be fixed at 6.

I second the motion.

You have heard the motion. Is there any discussion? If there is no discussion, would all those shareholders entitled to vote who are in favor, signify by raising their hand. Contrary, if any? The motion is carried. The next item of business is the election of directors of Maxim. The proposed nominees were set forth in the management information circular and proxy statement prepared for this meeting. Those nominees are: Wiley Auch, M. Bruce Chernoff, Mike Mayder, Brad Wall, W. Brett Wilson and Andrea Whyte.

I nominate the 6 nominees management information circular and proxy statement to serve as directors for the ensuing year.

Are there any further nominations? As there are no further nominations, I declare the nominations closed. May I have a motion regarding the election of directors.

Mr. Chairman, I move at each of the following nominees M. Chernoff, Mike Mayder, Brad Wall, W. Brett Wilson and Andrea Whyte, hereby separately elected its records after the period consequence of the date hereof and ending at the close of the next annual meeting of shareholders, the corporation where until their successor is elected or unless their office is vacated.

I second the motion.

In order to comply with the requirements of the Toronto Stock Exchange and the corporation's majority voting policy, the vote will be conducted by ballot. I ask proxy holders and registered shareholders present in person to complete the ballot on the election of directors, which was provided to you when you entered the meeting. When completed, please provide your ballot to the scrutineers who will tabulate the results. You do not need to complete a ballot if you have already completed and submitted a proxy and wish to vote in accordance with the instructions in your proxy. The scrutineer has provided the results of the ballot on the motion. The motion has been carried with individual election of each director received more for votes than withheld votes. I declare each of the nominated persons to be duly elected directors of the corporation to hold office for the ensuing year until the next Annual Meeting of Shareholders or until their successors are elected or appointed unless such office is earlier vacated. The next item of business is the appointment of the auditor of the corporation. It is proposed that KPMG LLP, chartered accountants, be appointed the auditor of the corporation until the next Annual Meeting of Shareholders of the corporation or until a successor is appointed and to authorize the directors to fix the remuneration of the auditors. May I have a motion?

Mr. Chairman, [indiscernible] Corporation are [indiscernible] appointed to authorize Board of Directors is remuneration of the owners.

I second the motion.

You have heard the motion. Is there any discussion? If there is no discussion with all those shareholders entitled to vote who are in favor signify by raising their hands. Contrary, if any? Motion is carried. If there is any other business to be brought -- is there any other business to be brought before the meeting? As there is no further business to be brought before this meeting, will someone move that this meeting be terminated.

Mr. Chairman, this meeting be terminated.

I second the motion.

You have heard the motion, is there any discussion? If there is no discussion with all those shareholders entitled to vote who are in favor, signify by raising their hands. Contrary, if any. The motion is carried, and I declare that this meeting is terminated. Thank you, everyone.