Special Meeting of Shareholders - ACUITY INC (DE)

Explicit Guidance:

• No specific quantitative financial guidance (e.g., revenue, earnings, margins, capex, or cash flow targets) was provided for future periods.

Business-Segment Outlook:

• ESG Strategy Shift: All nine listed Desjardins ETFs (Canada, US, Developed Ex-US/Canada, Emerging Markets) are proceeding with a modification to their fundamental investment objective to adopt a "simplified ESG approach" based on pre-established ESG standards.
• Emissions Target: The modified strategy will include a specific, measurable target to maintain financed emissions at least 25% lower than the corresponding reference index.
• Operational Impact: Management anticipates this change will result in "more stable and predictable management" of the funds' ESG characteristics.
• Scope: The outlook applies to the following fund categories:
  • Canada: Active Obligations, Trajectory Zero (Net Emissions), Multi-Factor.
  • US: Trajectory Zero (Net Emissions), Multi-Factor.
  • Developed Markets (Ex-US/Canada): Trajectory Zero (Net Emissions), Multi-Factor.
  • Emerging Markets: Trajectory Zero (Net Emissions), Multi-Factor.
• Vote Outcomes: Resolutions to amend the investment objectives for seven funds were adopted with the required majority; resolutions for the US Multi-Factor and Developed Markets Multi-Factor funds were also adopted following a adjourned second assembly.

Market and Competitive Outlook:

• No commentary on demand trends, pricing power, market share shifts, or competitive positioning was provided.
• No analysis of structural changes in the broader ETF market or industry was included.

Macro / Industry Outlook:

• No discussion of the broader economy, interest rates, FX, regulation, or tariffs was presented.
• The meeting focused exclusively on internal fund governance rather than external economic factors.

Strategic Initiatives:

• Fund Objective Modification: The primary initiative is the adoption of resolutions to amend the fundamental placement objective of the nine listed ETFs to incorporate a simplified, standardized ESG framework.
• Implementation Timeline: The resolutions were voted on and adopted on the date of the meeting (referenced as September 11, 2026, in the context of the Information Circular date), with final results subject to definitive scrutiny reports to be distributed via press release and posted on CEDAR+.
• Corporate Action: No M&A, capacity additions, or new product launches were announced.

Risks and Headwinds to Outlook:

• Resolution Rejection: Management noted that if the proposals had been rejected, the funds would simply continue to be managed under their current structures and objectives with no change to the strategy.
• Voting Mechanism: The success of the initiative was contingent upon achieving a majority (over 50%) of expressed votes; two funds initially lacked quorum, requiring a second, adjourned assembly to proceed.

Management Tone on the Future:

• Confidence: Management expressed confidence that the proposed changes "will benefit the shareholders" and align with the funds' environmental targets.
• Certainty: The tone regarding the transition was definitive, emphasizing the "clear and measurable" nature of the 25% emissions reduction target to ensure stability.
• Process: The proceedings were procedural and formal, focusing on the adoption of governance changes rather than forward-looking market commentary.

Miscellaneous:

• Meeting Date/Context: The assemblies were held virtually on a date corresponding to an Information Circular dated September 11, 2026.
• Quorum Details: Quorum was initially met for seven funds but not for two (US Multi-Factor and Developed Markets Multi-Factor), which were adjourned and reconvened immediately to secure votes.
• Record Date: Shareholder eligibility was based on registration as of August 31, 2026.
• Documentation: Final reports and voting results will be disseminated via press release and the website <a href="http://www.fnbdesjardins.com">www.fnbdesjardins.com</a> or <a href="http://www.cedarplus.ca">www.cedarplus.ca</a>.