Why Canadian Issuers Should Prioritize e-Delivery for the 2025 AGM Season

"How do you mitigate foreseeable risks before they become costly problems?" That was the question on many minds during last year's postal strike. Issuers who relied solely on physical delivery faced delays that impacted investor engagement and shareholder voting. Worse, they absorbed the cost of mailings that may not have reached recipients on time.

The takeaway was simple: Relying on a single channel, especially one vulnerable to external disruptions, puts your compliance timelines and reputation at risk.

With the 2025 annual meeting season underway, Canadian issuers face a familiar—but preventable—challenge: the possibility of another Canada Post strike. While no one can predict if or when service disruptions will occur, the lessons from the last postal strike highlighted an operational risk that can be mitigated by reassessing your company's approach to shareholder communications.

Why e-Delivery Makes Strategic Sense

Electronic delivery (e-Delivery) offers a reliable, efficient and compliant alternative that puts issuers in control. e-Delivery is more than a contingency plan. It's a forward-looking solution that aligns with evolving investor expectations, global best practices and regulatory frameworks.

By adopting e-Delivery, issuers can:

• Manage consent for electronic communications from securityholders.
• Offer online enrollment and preference management for convenience and transparency.
• Keep investor records current by collecting and updating email addresses.
• Notify shareholders as soon as materials are posted online.
• Send communications that include direct links to documents and clear instructions for action.
• Track metrics around effectiveness of communications, such as who opened the email, how many recipients clicked on the links and which email addresses were invalid.
• Distribute other investor materials, such as press releases or marketing updates, electronically.

Canadian regulators allow for e-Delivery under specific consent and notification conditions. Globally, electronic access to shareholder materials is increasingly the standard. Moving in this direction helps issuers mitigate risk, deliver a better meeting experience and keep pace with modern governance expectations.

Preparing for e-Delivery

Adopting e-Delivery doesn't happen overnight. It requires planning, coordination, and early engagement with your investor base. Companies should begin laying the groundwork early to build an effective and compliant electronic delivery program to get ahead of their AGM season.

As your trusted transfer agent, TSX Trust offers a seamless e-Delivery solution built for compliance and efficiency. From managing consents to distributing notices and materials, our service enables issuers to deliver timely, secure communications.

Based on our experience working with various public companies in Canada, we recommend taking four fundamental steps today to prepare for your next annual meeting.

Step 1: Start Collecting Consent

Under Canadian regulations, securityholders must provide consent before receiving materials electronically. Begin incorporating consent requests into existing shareholder communications, and consider targeted outreach to encourage enrolment.

Step 2: Leverage TSX Trust's Client Portal

Through TSX Trust's secure client portal, issuers can manage e-Delivery preferences, initiate email campaigns and monitor shareholder engagement in real time. It's a central hub to support your transition and track your progress.

Step 3: Promote e-Delivery Promotion Across Touchpoints

Whether it's print mailings, online communications or investor-facing materials, use every opportunity to educate shareholders about the benefits of e-Delivery and how they can enroll.

Step 4: Clean and Update Shareholder Email Records

Maintaining accurate contact details is essential for a successful e-Delivery program. Begin validating and updating shareholder email addresses through secure channels supported by TSX Trust.

Being proactive means reducing risk, controlling costs, and ensuring that your shareholder communications are delivered without delay — regardless of external factors like a potential postal strike. But beyond mitigating disruption, e-Delivery offers a modern, secure, and highly efficient way to engage your investors. The next AGM season will be here before you know it. Now is the time to assess your current process, identify gaps and take action.

Connect with a dedicated TSX Trust relationship manager to explore how our e-Delivery service can help you meet your compliance requirements and enhance your shareholder communication strategy.

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