Velan (VLN) EGM 2025 summary

Opening remarks and agenda

• Meeting called to order by the Chair, conducted virtually to ensure equal participation for all shareholders.

• Rules for orderly conduct, language options, and voting procedures explained at the outset.

Specific resolutions to be voted on

• Special resolution to approve the sale of all shares in Segault SAS and Velan SAS, French subsidiaries, to Framatome for $177.6 million, plus an intercompany loan, totaling $201.1 million.

• Full transaction details and resolution text provided in the Management Information Circular and its appendix.

Corporate governance

• Voting rights clarified: each subordinate and multiple voting share carries five votes; only shareholders of record as of February 24, 2025, may vote.

• Quorum confirmed with at least 10% of eligible votes represented.

• Scrutineers from TSX Trust Company appointed to tabulate votes and certify results.