Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

ONEX CORPORATION Call Transcript 2026

May 14, 2026

Call Transcript

ONEX CORPORATION

Download source file

Good morning, everybody. My name is Gerry Schwartz. I'm the Founder and the Chairman of Onex. Welcome to our 39th annual shareholders meeting. Also with me today is Colin Sam, our General Counsel and Corporate Secretary. In 2025, Onex delivered strong results and made significant progress on its business objectives. Most importantly, our acquisition of Convex and new strategic relationship with AIG have greatly enhanced our earnings outlook and our ability to grow shareholder value. Under Bobby's strong leadership, we have a clear value creation strategy and the team to deliver on it. We at Onex are excited for the future and remain thankful to those of you who are on this journey with us. I firmly believe that our brightest days lie ahead. For those of you who would like to hear more, our first quarter earnings report will be released tomorrow morning with a webcast at 11:00 A.M. We have a number of items on our agenda today, so I'd like to turn now to the business of this particular meeting. Colin will provide a brief overview of the meeting procedures. Colin? Thank you, Gerry. Voting at today's meeting will be conducted by online ballot for all matters. Instructions on the voting procedure will appear on your screens as we proceed through the agenda. Please note that only shareholders and duly appointed proxy holders who have logged in using their 16-digit control number will be able to cast votes. Shareholders who have already voted in advance by proxy are not required to vote again during the meeting since your vote will have already been recorded. Shareholders and proxy holders that have not already voted or wish to change their vote should click on the Vote Here button and follow the instructions to submit their selection. We have set aside a time following the conclusion of the formal business of the meeting to address shareholder questions. Questions relating to matters on the meeting can be submitted at any time using the Ask a Question box on the screen. Please note that only shareholders and duly appointed proxy holders who have logged in using their 16-digit control number will be able to submit questions in the box. If you have other questions not addressed in the meeting, please feel free to reach out to our shareholder relations team. Now, I'd like to acknowledge the members of the proposed board of directors, most of whom are in attendance today. Lisa Carnoy, former Chief Financial and Administrative Officer of Continental Grain Company. Jay Cohen, former Managing Director at Bank of America, Merrill Lynch, leading the Insurance Equity Research team. Mitch Goldhar, Executive Chair and Chief Executive Officer of SmartCentres REIT. Yves Hirsch, Vice Chairman of Onex. Bobby Le Blanc, Chief Executive Officer and President of Onex. Sabih Marwah, former Vice Chair and Chief Operating Officer of Scotiabank and retired member of the Senate of Canada. Heather Reisman, Founder and Chief Executive Officer of Indigo Books. Robert Shanfield, former Advisory Partner of Ares Management and former partner of Landmark Partners. Sara Wechter, Chief Human Resources Officer of Citigroup. Beth Wilkinson, Founding Partner of the law firm Wilkinson Stekloff. There's one name that you haven't seen proposed as a director this year, and that's Rob Prichard. Rob has advised Onex that after 34 years serving as the director, he will not be standing for re-election and will be retiring from the board at the conclusion of today's meeting. Rob, I want you to know that we're grateful for your years of service, your valuable insights, your professional stewardship, and your guidance over the years, including your leadership as Lead Director for the past three years. On behalf of Onex, I want to thank Rob for his many contributions to the board and to our company more generally. On a more personal level, I just wanted to say that Rob has been a trusted director, a thought partner, and a friend from the early years of Onex through to the current evolution. We wish him well in the years ahead and thank you for your contributions to the success of Onex. We have three items of business on our agenda. Colin Sam will act as secretary for this meeting. Broadridge Investor Communications, represented by Jennifer Huff, will act as scrutineer. I have received the scrutineer's preliminary report on attendance, and I can confirm that shareholders attending virtually or by proxy represent more than 25% of the voting shares outstanding, therefore, a quorum exists. As a reminder, if you've already voted in advance by proxy, you don't need to vote again during the meeting. Only logged-in shareholders and proxy holders will be able to cast or change prior votes using the Vote Here button. Given that approach, I propose to move through the formal items of business as efficiently as possible. The online voting polls are open on all items of business and will remain open as we proceed. The first item of business is to appoint PricewaterhouseCoopers as auditor of the corporation and to authorize the directors to fix their compensation. I'll ask Colin for a motion. Mr. Chairman, I move that PricewaterhouseCoopers LLP be appointed as auditors of Onex until the close of the next annual meeting of shareholders and the directors be authorized to fix the auditor's compensation. Thank you, Colin. Shareholders and proxy holders are asked to register their vote regarding the appointment and compensation of PwC using the online ballot. The next item is the election of directors pursuant to our articles and noting that the scheduled event of change recently occurred on May 11, 2026. Two of the 11 director nominees will be elected by the holders of MVS shares. I am one of the MVS director nominees. The other MVS director nominee is Heather Reisman. All MVS have been voted in favor of the two MVS director nominees, and both have been elected to hold office until the close of the next annual meeting. We'll move now to the election of the remaining nine of 11 director nominees by holders of the subordinate voting shares. Proxies representing the substantial majority of the SVS were submitted in advance of the meeting. We will publicly report the specific voting percentages for each director when we receive the scrutineer's formal report. The preliminary count shows well more than majority support for each SVS director. I'll now call on Colin for a motion. Mr. Chairman, I move for the nomination for election of Robert Le Blanc, Lisa Carnoy, Jay Cohen, Mitch Goldhar, Yves Hirsch, Sarabjit Marwah, Robert Shanfield, Sara Wechter, Beth Wilkinson as directors of Onex to hold office until the close of the next annual meeting of shareholders. Thanks, Colin. Once again, I'd kindly ask shareholders and proxy holders to register your votes on the election of the nine SVS directors using the online ballot. The final item of business is the approval of an advisory resolution relating to the corporation's approach to executive compensation. As discussed in detail in this year's circular, I'll call on again for a motion. Mr. Chairman, I move that the shareholders vote for the approach to executive compensation described in the circular for this meeting. Thanks again, Colin. Shareholders and proxy holders are asked to please register your vote on the advisory resolution on our approach to executive comp using the online ballot. As previously mentioned, voting today has been conducted by online ballot. If you have not yet voted on any items of business, please feel free to do so now. I'll pause for a moment while any last votes are submitted before closing the voting polls. I confirm the online ballots are now closed. That concludes our formal business, and I declare the meeting terminated. We will publicly report the specific voting percentages when we receive the scrutineer's formal report. The preliminary count shows majority support for the appointment and fixing of compensation of PwC, election of all SVS directors, and approval of the say on pay advisory resolution. Before adjourning, we would be pleased to answer questions submitted by shareholders. Bobby Le Blanc, our CEO, and Megan McClellan, our CFO, are also here with me today. For each question, I'll ask Colin to read out the question as well as the name of the shareholder who asked. For any questions not addressed during the Q&A, please reach out to our shareholder relations team. I'll pause for a moment to allow for any final questions to be submitted. Mr. Chairman, there appear to be no questions submitted by shareholders. Thanks, everyone for joining us today and for your continuing support as Onex shareholders. As always, please feel free to reach out to our shareholder relations team. We appreciate your participation and extend our best wishes to you and your families. Thank you. This concludes today's call. Thank you all for joining. You may now disconnect.

Speaker 2: Good morning, everybody. My name is Gerry Schwartz. I'm the Founder and the Chairman of Onex. Welcome to our 39th annual shareholders meeting. Also with me today is Colin Sam, our General Counsel and Corporate Secretary. In 2025, Onex delivered strong results and made significant progress on its business objectives. Most importantly, our acquisition of Convex and new strategic relationship with AIG have greatly enhanced our earnings outlook and our ability to grow shareholder value. Under Bobby's strong leadership, we have a clear value creation strategy and the team to deliver on it. We at Onex are excited for the future and remain thankful to those of you who are on this journey with us. I firmly believe that our brightest days lie ahead. For those of you who would like to hear more, our first quarter earnings report will be released tomorrow morning with a webcast at 11:00 A.M. Good morning, everybody. good morning everybody My name is Gerry Schwartz. my name is gerry schwartz I'm the Founder and the Chairman of Onex. i'm the founder and the chairman of onex Welcome to our 39th annual shareholders meeting. welcome to our 39th annual shareholders meeting Also with me today is Colin Sam, our General Counsel and Corporate Secretary. also with me today is colin sam our general counsel and corporate secretary In 2025, Onex delivered strong results and made significant progress on its business objectives. in 2025 onex delivered strong results and made significant progress on its business objectives Most importantly, our acquisition of Convex and new strategic relationship with AIG have greatly enhanced our earnings outlook and our ability to grow shareholder value. most importantly our acquisition of convex and new strategic relationship with aig have greatly enhanced our earnings outlook and our ability to grow shareholder value Under Bobby's strong leadership, we have a clear value creation strategy and the team to deliver on it. under bobby's strong leadership we have a clear value creation strategy and the team to deliver on it We at Onex are excited for the future and remain thankful to those of you who are on this journey with us. we at onex are excited for the future and remain thankful to those of you who are on this journey with us I firmly believe that our brightest days lie ahead. i firmly believe that our brightest days lie ahead For those of you who would like to hear more, our first quarter earnings report will be released tomorrow morning with a webcast at 11:00 A.M. for those of you who would like to hear more our first quarter earnings report will be released tomorrow morning with a webcast at 11:00 a.m We have a number of items on our agenda today, so I'd like to turn now to the business of this particular meeting. Colin will provide a brief overview of the meeting procedures. Colin? We have a number of items on our agenda today, so I'd like to turn now to the business of this particular meeting. we have a number of items on our agenda today so i'd like to turn now to the business of this particular meeting Colin will provide a brief overview of the meeting procedures. colin will provide a brief overview of the meeting procedures Colin? colin

Speaker 1: Thank you, Gerry. Voting at today's meeting will be conducted by online ballot for all matters. Instructions on the voting procedure will appear on your screens as we proceed through the agenda. Please note that only shareholders and duly appointed proxy holders who have logged in using their 16-digit control number will be able to cast votes. Shareholders who have already voted in advance by proxy are not required to vote again during the meeting since your vote will have already been recorded. Shareholders and proxy holders that have not already voted or wish to change their vote should click on the Vote Here button and follow the instructions to submit their selection. We have set aside a time following the conclusion of the formal business of the meeting to address shareholder questions. Thank you, Gerry. thank you gerry Voting at today's meeting will be conducted by online ballot for all matters. voting at today's meeting will be conducted by online ballot for all matters Instructions on the voting procedure will appear on your screens as we proceed through the agenda. instructions on the voting procedure will appear on your screens as we proceed through the agenda Please note that only shareholders and duly appointed proxy holders who have logged in using their 16-digit control number will be able to cast votes. please note that only shareholders and duly appointed proxy holders who have logged in using their 16-digit control number will be able to cast votes Shareholders who have already voted in advance by proxy are not required to vote again during the meeting since your vote will have already been recorded. shareholders who have already voted in advance by proxy are not required to vote again during the meeting since your vote will have already been recorded Shareholders and proxy holders that have not already voted or wish to change their vote should click on the Vote Here button and follow the instructions to submit their selection. shareholders and proxy holders that have not already voted or wish to change their vote should click on the vote here button and follow the instructions to submit their selection We have set aside a time following the conclusion of the formal business of the meeting to address shareholder questions. we have set aside a time following the conclusion of the formal business of the meeting to address shareholder questions Questions relating to matters on the meeting can be submitted at any time using the Ask a Question box on the screen. Please note that only shareholders and duly appointed proxy holders who have logged in using their 16-digit control number will be able to submit questions in the box. If you have other questions not addressed in the meeting, please feel free to reach out to our shareholder relations team. Questions relating to matters on the meeting can be submitted at any time using the Ask a Question box on the screen. questions relating to matters on the meeting can be submitted at any time using the ask a question box on the screen Please note that only shareholders and duly appointed proxy holders who have logged in using their 16-digit control number will be able to submit questions in the box. please note that only shareholders and duly appointed proxy holders who have logged in using their 16-digit control number will be able to submit questions in the box If you have other questions not addressed in the meeting, please feel free to reach out to our shareholder relations team. if you have other questions not addressed in the meeting please feel free to reach out to our shareholder relations team

Speaker 2: Now, I'd like to acknowledge the members of the proposed board of directors, most of whom are in attendance today. Lisa Carnoy, former Chief Financial and Administrative Officer of Continental Grain Company. Jay Cohen, former Managing Director at Bank of America, Merrill Lynch, leading the Insurance Equity Research team. Mitch Goldhar, Executive Chair and Chief Executive Officer of SmartCentres REIT. Yves Hirsch, Vice Chairman of Onex. Bobby Le Blanc, Chief Executive Officer and President of Onex. Sabih Marwah, former Vice Chair and Chief Operating Officer of Scotiabank and retired member of the Senate of Canada. Heather Reisman, Founder and Chief Executive Officer of Indigo Books. Robert Shanfield, former Advisory Partner of Ares Management and former partner of Landmark Partners. Sara Wechter, Chief Human Resources Officer of Citigroup. Beth Wilkinson, Founding Partner of the law firm Wilkinson Stekloff. Now, I'd like to acknowledge the members of the proposed board of directors, most of whom are in attendance today. now i'd like to acknowledge the members of the proposed board of directors most of whom are in attendance today Lisa Carnoy, former Chief Financial and Administrative Officer of Continental Grain Company. lisa carnoy former chief financial and administrative officer of continental grain company Jay Cohen, former Managing Director at Bank of America, Merrill Lynch, leading the Insurance Equity Research team. jay cohen former managing director at bank of america merrill lynch leading the insurance equity research team Mitch Goldhar, Executive Chair and Chief Executive Officer of SmartCentres REIT. mitch goldhar executive chair and chief executive officer of smartcentres reit Yves Hirsch, Vice Chairman of Onex. yves hirsch vice chairman of onex Bobby Le Blanc, Chief Executive Officer and President of Onex. bobby le blanc chief executive officer and president of onex Sabih Marwah, former Vice Chair and Chief Operating Officer of Scotiabank and retired member of the Senate of Canada. sabih marwah former vice chair and chief operating officer of scotiabank and retired member of the senate of canada Heather Reisman, Founder and Chief Executive Officer of Indigo Books. heather reisman founder and chief executive officer of indigo books Robert Shanfield, former Advisory Partner of Ares Management and former partner of Landmark Partners. robert shanfield former advisory partner of ares management and former partner of landmark partners Sara Wechter, Chief Human Resources Officer of Citigroup. sara wechter chief human resources officer of citigroup Beth Wilkinson, Founding Partner of the law firm Wilkinson Stekloff. beth wilkinson founding partner of the law firm wilkinson stekloff There's one name that you haven't seen proposed as a director this year, and that's Rob Prichard. Rob has advised Onex that after 34 years serving as the director, he will not be standing for re-election and will be retiring from the board at the conclusion of today's meeting. Rob, I want you to know that we're grateful for your years of service, your valuable insights, your professional stewardship, and your guidance over the years, including your leadership as Lead Director for the past three years. On behalf of Onex, I want to thank Rob for his many contributions to the board and to our company more generally. On a more personal level, I just wanted to say that Rob has been a trusted director, a thought partner, and a friend from the early years of Onex through to the current evolution. There's one name that you haven't seen proposed as a director this year, and that's Rob Prichard. there's one name that you haven't seen proposed as a director this year and that's rob prichard Rob has advised Onex that after 34 years serving as the director, he will not be standing for re-election and will be retiring from the board at the conclusion of today's meeting. rob has advised onex that after 34 years serving as the director he will not be standing for re-election and will be retiring from the board at the conclusion of today's meeting Rob, I want you to know that we're grateful for your years of service, your valuable insights, your professional stewardship, and your guidance over the years, including your leadership as Lead Director for the past three years. rob i want you to know that we're grateful for your years of service your valuable insights your professional stewardship and your guidance over the years including your leadership as lead director for the past three years On behalf of Onex, I want to thank Rob for his many contributions to the board and to our company more generally. on behalf of onex i want to thank rob for his many contributions to the board and to our company more generally On a more personal level, I just wanted to say that Rob has been a trusted director, a thought partner, and a friend from the early years of Onex through to the current evolution. on a more personal level i just wanted to say that rob has been a trusted director a thought partner and a friend from the early years of onex through to the current evolution We wish him well in the years ahead and thank you for your contributions to the success of Onex. We have three items of business on our agenda. Colin Sam will act as secretary for this meeting. Broadridge Investor Communications, represented by Jennifer Huff, will act as scrutineer. I have received the scrutineer's preliminary report on attendance, and I can confirm that shareholders attending virtually or by proxy represent more than 25% of the voting shares outstanding, therefore, a quorum exists. As a reminder, if you've already voted in advance by proxy, you don't need to vote again during the meeting. Only logged-in shareholders and proxy holders will be able to cast or change prior votes using the Vote Here button. Given that approach, I propose to move through the formal items of business as efficiently as possible. We wish him well in the years ahead and thank you for your contributions to the success of Onex. we wish him well in the years ahead and thank you for your contributions to the success of onex We have three items of business on our agenda. we have three items of business on our agenda Colin Sam will act as secretary for this meeting. colin sam will act as secretary for this meeting Broadridge Investor Communications, represented by Jennifer Huff, will act as scrutineer. I have received the scrutineer's preliminary report on attendance, and I can confirm that shareholders attending virtually or by proxy represent more than 25% of the voting shares outstanding, therefore, a quorum exists. broadridge investor communications represented by jennifer huff will act as scrutineer. i have received the scrutineer's preliminary report on attendance and i can confirm that shareholders attending virtually or by proxy represent more than 25% of the voting shares outstanding therefore a quorum exists As a reminder, if you've already voted in advance by proxy, you don't need to vote again during the meeting. as a reminder if you've already voted in advance by proxy you don't need to vote again during the meeting Only logged-in shareholders and proxy holders will be able to cast or change prior votes using the Vote Here button. only logged-in shareholders and proxy holders will be able to cast or change prior votes using the vote here button Given that approach, I propose to move through the formal items of business as efficiently as possible. given that approach i propose to move through the formal items of business as efficiently as possible The online voting polls are open on all items of business and will remain open as we proceed. The first item of business is to appoint PricewaterhouseCoopers as auditor of the corporation and to authorize the directors to fix their compensation. I'll ask Colin for a motion. The online voting polls are open on all items of business and will remain open as we proceed. the online voting polls are open on all items of business and will remain open as we proceed The first item of business is to appoint PricewaterhouseCoopers as auditor of the corporation and to authorize the directors to fix their compensation. the first item of business is to appoint pricewaterhousecoopers as auditor of the corporation and to authorize the directors to fix their compensation I'll ask Colin for a motion. i'll ask colin for a motion

Speaker 1: Mr. Chairman, I move that PricewaterhouseCoopers LLP be appointed as auditors of Onex until the close of the next annual meeting of shareholders and the directors be authorized to fix the auditor's compensation. Mr. Chairman, I move that PricewaterhouseCoopers LLP be appointed as auditors of Onex until the close of the next annual meeting of shareholders and the directors be authorized to fix the auditor's compensation. mr chairman i move that pricewaterhousecoopers llp be appointed as auditors of onex until the close of the next annual meeting of shareholders and the directors be authorized to fix the auditor's compensation

Speaker 2: Thank you, Colin. Shareholders and proxy holders are asked to register their vote regarding the appointment and compensation of PwC using the online ballot. The next item is the election of directors pursuant to our articles and noting that the scheduled event of change recently occurred on May 11, 2026. Two of the 11 director nominees will be elected by the holders of MVS shares. I am one of the MVS director nominees. The other MVS director nominee is Heather Reisman. All MVS have been voted in favor of the two MVS director nominees, and both have been elected to hold office until the close of the next annual meeting. We'll move now to the election of the remaining nine of 11 director nominees by holders of the subordinate voting shares. Thank you, Colin. thank you colin Shareholders and proxy holders are asked to register their vote regarding the appointment and compensation of PwC using the online ballot. shareholders and proxy holders are asked to register their vote regarding the appointment and compensation of pwc using the online ballot The next item is the election of directors pursuant to our articles and noting that the scheduled event of change recently occurred on May 11, 2026. the next item is the election of directors pursuant to our articles and noting that the scheduled event of change recently occurred on may 11 2026 Two of the 11 director nominees will be elected by the holders of MVS shares. two of the 11 director nominees will be elected by the holders of mvs shares I am one of the MVS director nominees. i am one of the mvs director nominees The other MVS director nominee is Heather Reisman. the other mvs director nominee is heather reisman All MVS have been voted in favor of the two MVS director nominees, and both have been elected to hold office until the close of the next annual meeting. all mvs have been voted in favor of the two mvs director nominees and both have been elected to hold office until the close of the next annual meeting We'll move now to the election of the remaining nine of 11 director nominees by holders of the subordinate voting shares. we'll move now to the election of the remaining nine of 11 director nominees by holders of the subordinate voting shares Proxies representing the substantial majority of the SVS were submitted in advance of the meeting. We will publicly report the specific voting percentages for each director when we receive the scrutineer's formal report. The preliminary count shows well more than majority support for each SVS director. I'll now call on Colin for a motion. Proxies representing the substantial majority of the SVS were submitted in advance of the meeting. proxies representing the substantial majority of the svs were submitted in advance of the meeting We will publicly report the specific voting percentages for each director when we receive the scrutineer's formal report. we will publicly report the specific voting percentages for each director when we receive the scrutineer's formal report The preliminary count shows well more than majority support for each SVS director. the preliminary count shows well more than majority support for each svs director I'll now call on Colin for a motion. i'll now call on colin for a motion

Speaker 1: Mr. Chairman, I move for the nomination for election of Robert Le Blanc, Lisa Carnoy, Jay Cohen, Mitch Goldhar, Yves Hirsch, Sarabjit Marwah, Robert Shanfield, Sara Wechter, Beth Wilkinson as directors of Onex to hold office until the close of the next annual meeting of shareholders. Mr. Chairman, I move for the nomination for election of Robert Le Blanc, Lisa Carnoy, Jay Cohen, Mitch Goldhar, Yves Hirsch, Sarabjit Marwah, Robert Shanfield, Sara Wechter, Beth Wilkinson as directors of Onex to hold office until the close of the next annual meeting of shareholders. mr chairman i move for the nomination for election of robert le blanc lisa carnoy jay cohen mitch goldhar yves hirsch sarabjit marwah robert shanfield sara wechter beth wilkinson as directors of onex to hold office until the close of the next annual meeting of shareholders

Speaker 2: Thanks, Colin. Once again, I'd kindly ask shareholders and proxy holders to register your votes on the election of the nine SVS directors using the online ballot. The final item of business is the approval of an advisory resolution relating to the corporation's approach to executive compensation. As discussed in detail in this year's circular, I'll call on again for a motion. Thanks, Colin. thanks colin Once again, I'd kindly ask shareholders and proxy holders to register your votes on the election of the nine SVS directors using the online ballot. once again i'd kindly ask shareholders and proxy holders to register your votes on the election of the nine svs directors using the online ballot The final item of business is the approval of an advisory resolution relating to the corporation's approach to executive compensation. the final item of business is the approval of an advisory resolution relating to the corporation's approach to executive compensation As discussed in detail in this year's circular, I'll call on again for a motion. as discussed in detail in this year's circular i'll call on again for a motion

Speaker 1: Mr. Chairman, I move that the shareholders vote for the approach to executive compensation described in the circular for this meeting. Mr. Chairman, I move that the shareholders vote for the approach to executive compensation described in the circular for this meeting. mr chairman i move that the shareholders vote for the approach to executive compensation described in the circular for this meeting

Speaker 2: Thanks again, Colin. Shareholders and proxy holders are asked to please register your vote on the advisory resolution on our approach to executive comp using the online ballot. As previously mentioned, voting today has been conducted by online ballot. If you have not yet voted on any items of business, please feel free to do so now. I'll pause for a moment while any last votes are submitted before closing the voting polls. I confirm the online ballots are now closed. That concludes our formal business, and I declare the meeting terminated. We will publicly report the specific voting percentages when we receive the scrutineer's formal report. The preliminary count shows majority support for the appointment and fixing of compensation of PwC, election of all SVS directors, and approval of the say on pay advisory resolution. Before adjourning, we would be pleased to answer questions submitted by shareholders. Thanks again, Colin. thanks again colin Shareholders and proxy holders are asked to please register your vote on the advisory resolution on our approach to executive comp using the online ballot. shareholders and proxy holders are asked to please register your vote on the advisory resolution on our approach to executive comp using the online ballot As previously mentioned, voting today has been conducted by online ballot. as previously mentioned voting today has been conducted by online ballot If you have not yet voted on any items of business, please feel free to do so now. if you have not yet voted on any items of business please feel free to do so now I'll pause for a moment while any last votes are submitted before closing the voting polls. i'll pause for a moment while any last votes are submitted before closing the voting polls I confirm the online ballots are now closed. i confirm the online ballots are now closed That concludes our formal business, and I declare the meeting terminated. that concludes our formal business and i declare the meeting terminated We will publicly report the specific voting percentages when we receive the scrutineer's formal report. we will publicly report the specific voting percentages when we receive the scrutineer's formal report The preliminary count shows majority support for the appointment and fixing of compensation of PwC, election of all SVS directors, and approval of the say on pay advisory resolution. the preliminary count shows majority support for the appointment and fixing of compensation of pwc election of all svs directors and approval of the say on pay advisory resolution Before adjourning, we would be pleased to answer questions submitted by shareholders. before adjourning we would be pleased to answer questions submitted by shareholders Bobby Le Blanc, our CEO, and Megan McClellan, our CFO, are also here with me today. For each question, I'll ask Colin to read out the question as well as the name of the shareholder who asked. For any questions not addressed during the Q&A, please reach out to our shareholder relations team. I'll pause for a moment to allow for any final questions to be submitted. Bobby Le Blanc, our CEO, and Megan McClellan, our CFO, are also here with me today. bobby le blanc our ceo and megan mcclellan our cfo are also here with me today For each question, I'll ask Colin to read out the question as well as the name of the shareholder who asked. for each question i'll ask colin to read out the question as well as the name of the shareholder who asked For any questions not addressed during the Q&A, please reach out to our shareholder relations team. for any questions not addressed during the q&a please reach out to our shareholder relations team I'll pause for a moment to allow for any final questions to be submitted. i'll pause for a moment to allow for any final questions to be submitted

Speaker 1: Mr. Chairman, there appear to be no questions submitted by shareholders. Mr. Chairman, there appear to be no questions submitted by shareholders. mr chairman there appear to be no questions submitted by shareholders

Speaker 2: Thanks, everyone for joining us today and for your continuing support as Onex shareholders. As always, please feel free to reach out to our shareholder relations team. We appreciate your participation and extend our best wishes to you and your families. Thank you. Thanks, everyone for joining us today and for your continuing support as Onex shareholders. thanks everyone for joining us today and for your continuing support as onex shareholders As always, please feel free to reach out to our shareholder relations team. as always please feel free to reach out to our shareholder relations team We appreciate your participation and extend our best wishes to you and your families. we appreciate your participation and extend our best wishes to you and your families Thank you. thank you

Speaker 3: This concludes today's call. Thank you all for joining. You may now disconnect. This concludes today's call. this concludes today's call Thank you all for joining. thank you all for joining You may now disconnect. you may now disconnect