Q1 2023 Proxy Voting Report

This report summarizes proxy voting activity conducted directly by University Pension Plan Ontario (UPP).

Voting Summary

Proposals Voted On

99.3%

Votes Against Board or Management Recommendations

27.72%

Votes Against Third-party Voting Vendor’s Recommendations

0.35%

Glossary of Terms

Proponent: The entity that put forward the ballot item – either Management or Shareholders.

UPP Vote: How UPP voted on the proposal.

Vote Against Management and Vote Against Recommendation: Indicates if UPP voted against board or management recommendations or our third-party voting vendor’s custom recommendations for UPP.

UPP Rationale: The rationale for all votes against board or management recommendations, shareholder resolutions and votes against our third-party voting vendor’s recommendations.

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