RFA Financial (RFA) EGM 2025 summary

Opening remarks and agenda

• Meeting opened by the chair, welcoming holders of common units and preferred units in a hybrid format.

• Introduction of trustees and senior management team in attendance.

• Explanation of voting and Q&A procedures for both in-person and virtual attendees.

Specific resolutions to be voted on

• Special resolution for common unit holders to approve a statutory plan of arrangement with RFA Capital Holdings Inc., forming RFA Financial Inc.

• Special resolutions for Series E and Series I preferred unit holders to approve the arrangement, each voting as a separate class.

• Ordinary resolution for common unit holders to approve an equity incentive plan for the resulting issuer, including a new monetary limit for non-employee directors.

Discussions on mergers, acquisitions, or other significant changes

• Arrangement agreement with RFA Capital Holdings Inc. to form RFA Financial Inc., with common unit holders owning 68% of the new entity.