Avante (XX) AGM 2024 summary

Opening remarks and agenda

• Meeting opened virtually, with shareholders and proxy holders encouraged to participate, ask questions, and vote on all business matters.

• Agenda included receipt of financial statements, appointment of auditors, election of directors, approval of stock option plan, and consideration of shareholder proposals.

• Voting procedures and eligibility were clarified, with polls open throughout the formal portion.

Financial performance review

• Audited consolidated financial statements for fiscal years ended March 31, 2024 and 2023, and unaudited interim statements for Q1 2025, were presented and received.

• Q1 2025 revenues were CAD 7.9 million, adjusted EBITDA CAD 363,000, cash in bank CAD 6.2 million, and undrawn line of credit CAD 12 million.

• Operational improvements included debt repayment, cost savings, and positive cash flow.

Board and executive committee updates

• Five management nominees and three shareholder nominees were presented for five board positions.

• Management nominees Dan Argiros, Wade Burton, Rob Klopot, Emmanuel Mounouchos, and Bruce Bronfman were elected.

• Key management team and board members introduced, highlighting experience and recent leadership changes.