Maple Leaf Foods Inc.

Good morning, ladies and gentlemen. My name is Jeff Beattie, Chair of the Board of Maple Leaf Foods, and it is my pleasure to welcome you to our 2022 Annual Meeting of Shareholders. Joining me on our video webcast today are Michael McCain, President and Chief Executive Officer of Maple Leaf Foods, and Suzanne Hathaway, Senior Vice President, General Counsel and Corporate Secretary. Joining us virtually are the other members of your board of directors, including Bill Aziz, Ron Close, Gene Fraser, Tom Hayes, Tim Hockey, Kay Lemon, Jonathan McCain, and Carol Stevenson, as well as members of the senior leadership team. When we started planning for this year's AGM, we thought that perhaps after two years of virtual meetings, this would be the year when we'd be back together in person. But with the uncertainties created by the Omicron surge, we concluded that the safest, most prudent course of action would be to proceed with another virtual meeting. While we will miss the live interaction of an in-person meeting, we know from your feedback that many of you prefer the virtual meeting platform anyway, as it provides greater flexibility and opportunity for all of our shareholders to participate, regardless of where you are physically located. And it also gives our other stakeholders an opportunity to meaningfully engage in the management presentation and Q&A that will follow immediately after we close out the formal portion of the AGM. Before we get started, I would just like to take a moment to reflect on the events unfolding in the Ukraine. The senseless devastation and immense human toll inflicted by this war are beyond tragic. Our compassion and deep sorrow go out to the Ukrainian people. The war comes at a time when the world is still grappling with the impacts of COVID, as well as other global crises, including accelerating climate risks, supply chain disruptions, and unprecedented levels of humanitarian need. In the face of these challenges, Maple Leaf Foods vision to be the most sustainable protein company on earth, including its commitments to safety, animal welfare, environmental protection, food insecurity, and diversity inclusion have never been more relevant. Bringing this vision to life takes a team, and I would like to take a moment to acknowledge the remarkable contributions of the Maple Leaf Foods team. Through change, challenge, and uncertainty, they have consistently delivered on our commitment to make safe, nutritious food in a safe and sustainable work environment. even achieving record results in health and safety performance in 2021 by meeting or exceeding all of our people's safety, food safety, sanitation, and quality goals. Thank you, Team Maple Leaf. With those introductory remarks, let me officially call the meeting to order. I will act as chair of the meeting and Suzanne Hathaway will act as secretary. Our agenda today will consist of three parts. We will start with the formal business of the meeting, which we will cover the receipt of the 2021 annual financial statements, the election of directors, the reappointment of KPMG as the external auditors of Maple Leaf Foods, and the advisory resolution on executive compensation, all of which are described in the notice of meeting and accompanying management information circular dated March 16th, 2022. Once the business of the meeting has been completed, we will conclude the formal portion of the AGM and we'll move on to the management presentation with our CEO, Michael McCain. We will wrap up our time together with a question and answer session. You are welcome to submit your questions at any time during the meeting by selecting the messaging icon at the top of your screen, typing the message in the text box, and simply clicking send. During the formal business of the meeting, those specific questions and comments relative to the matters to be acted upon will be read aloud by Suzanne at the appropriate time. Questions and comments of a general nature will be read during the question and answer session at the end of the management presentation. In the interest of time, questions and comments of a similar nature may be grouped together. We will endeavor to respond to as many questions as we can with priority given to those logged in as shareholders or proxy holders. If we don't get to all of the general questions, we are willing to follow up after the meeting on the remaining questions. Now, with the consent of the meeting, I appoint Shirley Tom and Jamie Plaszczyk of ComputerShare as scrutineers. Suzanne, can you please confirm that a quorum is present and the meeting is properly constituted?

Thank you, Jeff. Yes, I can confirm that the meeting is duly constituted and that a quorum is present. Both the confirmation of mailing and the meeting materials and the scrutineer's report on attendance will be kept with the records of the meeting. Copies of the notice of meeting and the management information circular are available on our Maple Leaf Foods website at www.mapleleaffoods.com and on CDAR. In addition, if you would like to access the materials during the meeting, they are available on this Lumi platform and you can simply click on the documents icon. Please note that today's management presentation contains forward-looking information. We encourage you to review the cautionary statements contained in our regulatory filings, which outline a number of factors that could cause actual results to differ. Copies of these filings are available on our website and on CDAR. Finally, I note that this virtual format relies on technology as well as coordination among individuals who are not together. While we are not anticipating any issues, we do appreciate your patience in the event that we experience any technical difficulties.

Thank you, Suzanne. Today we will conduct all votes by ballot. To expedite the meeting, we have asked certain shareholders who are also employees to move and second the various motions. The poll for all matters is now open for voting and voting instructions are available on your screen. Shareholders and proxy holders who have logged into the meeting using your control number are able to vote on each matter until I declare voting closed. You can vote by clicking on the polling icon at the top of the screen and completing the ballot. You may change your vote by selecting an alternative option on the ballot or you may cancel your vote by selecting cancel. Once voting is closed, your ballot will automatically be submitted. Thank you to all the shareholders who voted in advance of the meeting. If you have already voted and do not wish to change your vote, Do not vote again during the online ballot. If you have already voted by proxy and you vote again during the online ballot, your online vote during the meeting will revoke your previously submitted proxy. We will announce the results of all voting, including proxies deposited before the meeting, at the conclusion of the formal part of the meeting. As a reminder, shareholders and proxy holders may address any motion before the meeting by typing in your question or comment in the message section. If there is any discussion or questions on a motion, Suzanne will read the question aloud. We will now move to the first item of business, which is the presentation of the financial statements for the year ended December 31, 2021, together with the auditor's reports on those statements. The financial statements and associated auditor's report have been mailed to those shareholders who requested them and are also available on our website and on CDAR. No motion is required. Suzanne, are there any questions?