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Addenda Capital Inc.

PRI reporting framework 2018

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You are in Direct - Listed Equity Active Ownership » (Proxy) voting and shareholder resolutions

(Proxy) voting and shareholder resolutions

Overview

LEA 15. Voting policy & approach

New selection options have been added to this indicator. Please review your prefilled responses carefully.

15.1. Indicate whether your organisation has a formal voting policy.

15.2. Indicate what your voting policy covers:

15.3. Attach or provide a URL to your voting policy. [Optional]

15.4. Provide a brief overview of your organization’s approach to (proxy) voting.

Voting at company meetings is one of the most important methods by which shareholders can affect governance, communicate preferences and signal confidence or lack of confidence in a company's management and oversight. Addenda Capital takes its responsibility to cast votes in a manner that is consistent with the interests of our clients very seriously.


Our voting process is focused on enhancing long-term shareholder value. Our Sustainable Investing team works with a Portfolio Manager and Glass, Lewis& Co. to cast the votes for the shares of the companies that that Portfolio Manager is responsible for. Addenda Capital began using the services of Glass, Lewis & Co. early in 2013 for proxy voting research and voting recommendations, voting execution and vote reporting. The addition of Glass Lewis complemented our existing process by adding improved access to governance expertise, expanded executive compensation data and enhanced voting execution and reporting services.


Process

LEA 16. Typical approach to (proxy) voting decisions

16.1. Indicate how you typically make your (proxy) voting decisions.

Approach

Based on

16.2. Provide an overview of how you ensure your voting policy is adhered to, giving details of your approach when exceptions to the policy are made (if applicable).

The voting guidelines set out in our Proxy Voting Policy are general in nature. Each ballot item will be considered individually and assessed on its merits. There could be particular aspects of any given ballot item that could cause us to vote differently. than the guideline. In each case, our vote will be intending to enhance the best long-term interests of our clients as minority shareholderswith consideration of the interests of other stakeholders. The guidelines establish how we intend to vote on some commonly raised or contentious issues. They do not cover all situations.

Where a client of a segregated fund has provided specific proxy voting guidelines, Addenda will vote in accordance with those guidelines. Otherwise, we will vote in accordance with the guidelines set out below.

16.3. Additional information.[Optional]


LEA 17. Percentage of voting recommendations reviewed (Not Applicable)


LEA 18. Confirmation of votes (Not Completed)


LEA 19. Securities lending programme (Private)


LEA 20. Informing companies of the rationale of abstaining/voting against management

New selection options have been added to this indicator. Please review your prefilled responses carefully.

20.1. Indicate whether you or the service providers acting on your behalf raise any concerns with companies ahead of voting

20.2. Indicate whether you and/or the service provider(s) acting on your behalf, communicate the rationale to companies, when , you abstain or vote against management recommendations.

20.3. Additional information. [Optional]


Outputs and outcomes

LEA 21. Percentage of (proxy) votes cast

21.1. For listed equities where you and/or your service provider have the mandate to issue (proxy) voting instructions, indicate the percentage of votes cast during the reporting year.

Votes cast (to the nearest 1%)

96 %

Specify the basis on which this percentage is calculated

21.2. Explain your reason(s) for not voting certain holdings

21.3. Additional information. [Optional]


LEA 22. Proportion of ballot items that were for/against/abstentions

22.1. Indicate if you track the voting instructions that you and/or your service provider on your behalf have issued.

22.2. Of the voting instructions that you and/or third parties on your behalf issued, indicate the proportion of ballot items that were:

Voting instructions
Breakdown as percentage of votes cast
For (supporting) management recommendations
84 %
Against (opposing) management recommendations
16 %
Abstentions
0 %
100%

22.3. Describe the actions you take in relation to voting against management recommendations.

          Before voting any meeting, the Sustainable Investing team will consult with the relevant Portfolio Managers to highlight any votes against management, with a brief explanation as to the rationale. We include the rationale along with our vote. For some issues, we will engage in a dialogue with the company in question before or after casting votes against management recommendations.
        

22.4. Additional information. [Optional]


LEA 23. Shareholder resolutions (Private)


LEA 24. Examples of (proxy) voting activities (Private)


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