SECURE Waste Infrastructure Corp. (SES) Earnings Call Transcript & Summary

Good morning, and welcome to SECURE's Annual Meeting of Shareholders. I'll now turn the call over to SECURE's Chairman of the Board, Mick Dilger. Please go ahead.

Thank you, Melissa. Good morning, and welcome to the Annual Meeting of Secure Shareholders. My name is Mick Dilger, and I will act as Chair for today's meeting. I'd like to welcome all shareholders and guests joining us via live conference call today, and we thank our shareholders for submitting their votes via proxy in advance of the meeting. This format still allows shareholders and guests to submit questions, which we will address at the end of the formal portion of the meeting. Earlier today, we issued our first quarter results and held our conference call with senior management to discuss those results. We are pleased to report a solid start to 2025 as our operations continue to generate stable cash flows underpinned by recurring waste volumes tied to production and industrial activity. Please see our website at www.secure.ca for more details, our latest investor presentation and/or Investor Relations contact details should you wish to speak to someone. In order to efficiently cover the required business of this meeting, we have prearranged with certain shareholders to move and to second the motions of the business. The meeting will now come to order. And with the consent of the meeting, I will ask Michael Callihoo to act as Secretary and Jacquie Fisher of Odyssey Trust Company to act as scrutineer. The scrutineer has advised me that the required quorum is present, and accordingly, I now declare that the meeting has been regularly called and is properly constituted for the transaction of business. Our first item of business relates to the audited financial statements for the year ended December 31, 2024. These financial statements have previously been provided to shareholders, and I will dispense with the reading of the financial statements and the audit report contained therein. I would be pleased to receive any questions relating to the financial statements at the conclusion of the meeting. We will now proceed to the election of directors. The directors have been determined that the Board shall consist of 8 members to be voted on individually. I now declare the meeting open for nominations.

Mr. Chairman, I nominate Rene Amirault, Mark Bly, Mick Dilger, Allen Gransch, Wendy Hanrahan, Joseph Lenz, Sue Riddell Rose, Deanna Zumwalt for election as Directors of securities to hold office for the ensuing year.

As no additional nominations were received in accordance with the advanced notice provisions of SECURE's bylaws, no additional nominees for the election to SECURE's Board of Directors will be considered at this meeting. May I have a motion to elect those nominated as directors of SECURE.

Mr. Chairman, I move that 8 individuals nominated be elected as directors of SECURE.

Mr. Chairman, I second the motion.

[Operator Instructions] The conference will be placed on hold until we tabulate any votes received. [Voting]

I'm advised by the scrutineer that the result of the vote is that each of Rene Amirault, Mark Bly, Michael Dilger, Allen Gransch, Wendy Hanrahan, Joseph Lenz, Susan Riddell Rose and Deanna Zumwalt have been duly elected as directors of SECURE. Our next item of business is the appointment of auditors, and I would ask for a motion on this matter.

Mr. Chairman, I move that KPMG LLP Chartered Accountants be appointed auditors of SECURE to hold office until the next Annual Meeting of Shareholders at such remuneration as may be fixed by the Directors.

Mr. Chairman, I second the motion.

[Operator Instructions] The conference will be placed on hold while we table any votes received. [Voting]

I'm advised by the scrutineer that the result of the vote is that KPMG LLP has been duly appointed as the auditors of SECURE, to hold office until the next annual meeting of shareholders at such remuneration as may be fixed by the directors. Our next item of business is approval of the corporation's Omnibus incentive plan and the unallocated awards reserved for issuance under the corporation's Omnibus Incentive plan. The full text of the ordinary resolution is set out on Pages 12 to 14 of the information circular. May I please have a motion to approve the resolution.

Mr. Chairman, I move that the ordinary resolution approving the Omnibus incentive plan and all unallocated awards reserved for issuance under the corporation's Omnibus incentive plan as set out in the information circular be approved.

Mr. Chairman, I second the motion.

I'm advised by the scrutineers that the motion has been duly carried and the resolution passed. Our final item of business is a shareholder advisory vote on the corporation's report on executive compensation. The full text of the advisory resolution is set out on Page 15 of the information circular. May I please have a motion to approve the resolution.

Mr. Chairman, I move to approve the advisory resolution as tabled at this meeting.

Mr. Chairman, I second the motion.

I'm advised by the scrutineers that the resolution has been duly passed. As there is no further formal business to be brought before the meeting, may I please have a motion to terminate the formal portion of the meeting.

I move that the meeting terminate.

Mr. Chairman, I second the motion.

Opposed, if any? There being no opposition, I declare the meeting terminated. We will now move on to any questions with respect to our formal proceedings. [Operator Instructions] We have been advised by the operator that no questions have been received. Thank you, everyone, for attending SECURE's Annual Meeting of Shareholders. Have a great summer.

Thank you. This concludes today's meeting. Have a wonderful day.