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SolarBank Corporation Annual Meeting Overview

On December 12, 2024, SolarBank Corporation, listed on NASDAQ as SUUN, held its Annual General and Special Meeting in Toronto, Ontario. The event marked a significant moment for the company as shareholders participated in crucial decisions shaping the governance of this independent renewable energy project developer and owner.

Election of Directors

The results of the director elections were overwhelmingly positive. The management information circular proposed a slate of five nominees, all of whom were elected without any significant dissent. Here's a breakdown of the votes:

1. Dr. Richard Lu
- Votes for: 4,970,780 (99.99%)
- Votes withheld: 457 (0.01%)

2. Matthew Wayrynen
- Votes for: 4,964,029 (99.86%)
- Votes withheld: 7,208 (0.14%)

3. Paul Pasalic
- Votes for: 4,970,751 (99.99%)
- Votes withheld: 486 (0.01%)

4. Paul Sparkes
- Votes for: 4,964,038 (99.86%)
- Votes withheld: 7,199 (0.14%)

5. Chelsea Nickles
- Votes for: 4,970,785 (99.99%)
- Votes withheld: 452 (0.01%)

The near-unanimous support for these candidates underscores shareholder confidence in the company's leadership and direction.

Other Key Resolutions

In addition to the director elections, other important resolutions were approved by shareholders during the meeting. Notably, attendees consented to:

• - Appoint ZH CPA, LLC as the company's auditors: This decision is crucial for maintaining transparency and accountability in financial reporting.
• - Approve the Share Compensation Plan: This plan is pivotal in providing incentives for employees and aligning their interests with those of shareholders.
• - Authorize the board of directors to set the number of directors: This resolution allows for greater flexibility in governance, allowing the board to adjust its composition according to the evolving needs of the company.

Future Outlook

SolarBank focuses on distributed and community solar projects primarily in Canada and the USA. The company's commitment to clean energy solutions is expected to resonate well in current market trends favoring sustainability and renewable resources. The strong backing from shareholders at this annual meeting signals a robust confidence in SolarBank's strategic vision and operational execution.

As the company navigates the ever-evolving landscape of renewable energy, it aims to leverage shareholder support to expand its influence in the clean energy space further and contribute to a sustainable future.

To find out more about SolarBank and its initiatives, visit their website.