Olivut Resources Ltd. ($OLV)

Thank you, everybody. Sorry for that little glitch we had at the start up. But good morning, ladies and gentlemen -- Great. All right. We're just about to startup. Thanks for joining, everybody and I'll call the meeting to order. I would like to welcome you on behalf of the Board and the officers of Olivut Resources to this Annual General and Special Meeting of the Shareholders of the Corporation. My name is Leni Keough, President and CEO of Olivut, and I'll be chairing this meeting. It is my pleasure to welcome the common shareholders of the corporation and any guests present today. The persons entitled to take part in and vote at this meeting are the common shareholders of the corporation or their proxies. On behalf of the corporation, I wish to express thanks to those shareholders who have submitted their proxies in advance. This Annual General and Special Meeting of the Corporation has been called to consider the receiving of the corporation's audited financial statements as at and for the years ended October 31, 2025 and 2024, electing directors for the ensuing year, appointing McGovern Hurley LLP, Chartered Professional Accountants, as the corporation's auditor for the ensuing year and authorizing the directors to set the auditor's remuneration and approving the amended and restated share option plan. To conduct this meeting efficiently, we have asked certain attendees to move and second the items of business that the corporation is required to conduct at this meeting. I'd like to proceed with the formal portion of today's Annual General and Special Meeting. The first matter on the agenda is to call to order. I now call to order the Annual General and Special Meeting of the corporation's shareholders. With the consent of the meeting, I appoint [ Kesha Morsky ] as Secretary of the meeting. With the consent of the meeting, I also appoint Stikeman Elliott as scrutineer for the meeting to report on the number of shareholders present in person or by proxy to tabulate the votes on any polls taken at this meeting and to report to me as Chairman of the meeting. The notice calling the meeting of shareholders was mailed on February 9, 2026. The purpose of today's meeting is set out in that notice of meeting. I shall now request the secretary to table the proof of mailing, indicating that the notice of meeting, the management information circular and a form of proxy were properly mailed to shareholders. I direct that a copy of the notice, the management information circular and the proxy, together with the proof of mailing, be attached by the secretary to the minutes of this meeting. In order for a quorum to be present at this meeting, the bylaws of the corporation require that at least 2 shareholders of the shares entitled to vote at the meeting are present in person or represented by proxy irrespective of the number of persons actually present today. The Secretary reports that there are represented at this meeting in person or by proxy, 18 shareholders representing an aggregate of 38,789,891 common shares. The scrutineer's report confirms that there are a sufficient number of the shareholders and proxy holders in attendance to permit the meeting to proceed in accordance with the bylaws of the corporation. I direct the secretary of the meeting to attach a copy of the scrutineer's final report on attendance to the minutes of this meeting. I now declare that the meeting is regularly constituted for the transaction of business. To expedite the voting today, I propose to conduct the vote on all matters by a show of hands. However, a shareholder or proxy holder present in person at this meeting has the right to demand that a poll, by way of ballot be conducted on any resolution. The first order of business is the presentation of the audited financial statements of the corporation as at and for the years ended October 31, 2025 and 2024, together with the auditor's report thereon. These financial statements, together with the auditor's report were provided to all shareholders on February 9, 2026. Copies of the financial statements are available from the corporation for anyone that would like one or they're available from our corporation's website. Ian Shaw and Mary Cameron, the corporation's CFO and accountant respectively, are available to answer any questions from shareholders with respect to the audited annual financial statements. The next matter to be dealt with is the election of the directors of the corporation. The nominees have been listed in the management information circular. I will now ask that Kenneth Ruptash move that a resolution can be passed to elect the following individuals to the Board of the Directors of the corporation: Leni F. Keough, President and CEO; Craig O. Reith, Chairman; and Kenneth Ruptash, Director.

I so move.

Are there any further nominations? May I then have a motion that nominations be closed.

I move that nominations be closed.

Who will second that motion, please?

I second the motion.

You have heard the motion. All in favor, signify by raising their right hand. Contrary, if any? Hearing none, the motion is carried. May I have a motion from a shareholder with respect to the election of directors?

I move that each of Leni F. Keough, Craig O. Reith and Kenneth N. Ruptash be elected as directors of the corporation.

I second the motion.

You have heard the motion. Is there any discussion on the motion? Hearing none. Will all those in favor, please signify by raising their right hand. Contrary, if any? [Voting]

Motion is carried. I declare that each of Leni F. Keough, Craig O. Reith and Kenneth N. Ruptash is elected as Director of the corporation. The next matter to be dealt with is the appointment of McGovern Hurley LLP, Chartered Professional Accountants, to serve as auditors of the corporation until the next Annual and Special General Meeting of the Shareholders and to authorize the Board of Directors to fix the remuneration to be paid to the auditors. To be passed, this resolution requires the approval of the majority of our votes cast at the meeting by those shareholders present in person or by proxy and entitled to vote. I will now ask that Craig Reith move that a resolution appointing McGovern Hurley LLP Chartered Professional Accountants as the auditors of the corporation and authorizing the directors to fix their remuneration be approved.

I so move.

Who will second the motion, please?

I second the motion.

You have heard the motion. Is there any discussion on the motion? Hearing none, as there is no further discussion, will all those in favor, please signify by raising their hand. Contrary if any? [Voting]

The motion is carried. The next matter to be dealt with is the approval of the amended and restated share option plan set forth in Schedule A of the management information circular. The full text of the resolution is set out in Page 10 of the management information circular. To be passed, this resolution requires the approval of the majority of votes cast at the meeting by those shareholders present in person or by proxy and entitled to vote. I will now ask that Ian Shaw move that a resolution approving, ratifying and confirming the amended and restated share option plan is set forth in Schedule A of the Management Information Circular be approved.

I so move.

Who will second the motion?

I second the motion.

You have heard the motion. Is there any discussion on the motion? Hearing and seeing none, there -- will all those in favor, please signify by raising the right hand. Contrary, if any? [Voting]

The motion is carried. This completes the matters of business to be conducted as set out in the notice and management information circular. Is there any further business, it should properly come before the meeting? Hearing none, as the formal business of the meeting of the shareholders of the corporation has now been completed. I will now ask that a shareholder move that a resolution to terminate this meeting be approved.

I move that the meeting be terminated.

May I have a seconder for the motion?

Yes, I second the motion.

Thank you very much. All in favor of the resolution, please signify in the usual manner. Contrary, if any? [Voting]

The motion is carried. Thank you very much for attending this year's Annual General meeting. Anybody on the phone, if you've got any further questions or would like more information about the company. Please feel free to phone me at my direct line as available on the website, and we look forward to a good year ahead. Thanks very much, everybody, for attending. Goodbye.