Ladies and gentlemen, welcome to this Annual Shareholders' Assembly for Metro. My name is Pierre Boivin. I'm the President of the board at Metro, and as such, I will be presiding this meeting as well. Your presence here today, and online as well, shows the interest that you have in the corporation, and I thank you for this. I'd like to point out particularly all the shareholders who have given us their full trust during the past year. Good morning, ladies and gentlemen, and welcome to this annual general meeting of Metro. My name is Pierre Boivin. As Chair of the board of directors and of this meeting, it is a pleasure to be with you today. The meeting will be held in French, but we have arranged for an English translation service, and anyone who wishes to use this service should click on the English button at the top of the screen. There will be a question period at the end of the meeting, and any question you may have may be asked and will be answered in the language in which it is asked. Only questions from shareholders and duly appointed proxy holders will be permitted during this question period. Please note that it is strictly forbidden to record the meeting. I have here with me our President and CEO, Eric La Flèche, our Executive Vice President, CFO, and Treasurer, François, as well as our Vice President, Legal Affairs and Corporate Secretary, Simon Rivet. I'm also accompanied by members of the board and members of senior management who are sitting in the first rows in the room or who are present online. Before officially launching the assembly, I'd like to mention a few points of order. Firstly, the vote will be held live during the present assembly for persons who have not yet submitted their votes. In order to be able to vote during the assembly, you have to have joined the assembly online using the 13-digit code which you find in the proxy form for registered shareholders, or using the 13-digit code for proxy holders furnished by our transfer agent when you recorded your proxy for non-registered shareholders or registered shareholders who have chosen a third party as proxy. Shareholders and proxy holders in the room will be able to vote using the electronic device that was handed to them before the beginning of this meeting. Shareholders and duly appointed proxy holders will be able to ask questions. Questions can be asked in person or through webcast or by phone or by writing for those who are there online. For those who would like to write in their questions or use the phone, you have to use the dialogue function in the message section of the Lumi platform in order to write your question or submit your phone number. If you submit your phone number, an operator will communicate with you at the right moment. You also have the opportunity to speak on the webcast by clicking the request to speak button in the tab at the top of the screen in order to speak and ask your question. An operator will communicate with you at the opportune moment via the Lumi platform in order to make sure that your microphone and your camera are properly working. Journalists are invited to a press meeting in person or on Teams platform with management. This will be held after this assembly at 11:30 A.M. The assembly will unfold as follows. Firstly, I will speak a few words. Then we will hear from Mr. Éric La Flèche, who is our president and CEO. Then we will elect administrators, directors. We will select auditors. We'll have a vote on the corporation's approach for compensation for senior management, the vote on reconfirmation, modification, and update of the shareholders' rights regime, as well as a vote on the single shareholders' proposal that is submitted for a vote. Then there will be a presentation from shareholders who filed two other proposals which have since been withdrawn. And finally, we'll be answering questions at the end of the assembly. Only questions from shareholders and duly registered and appointed shareholders and proxies will be permitted. It's forbidden to record, to film, or to take pictures during the assembly. Webcasts sometimes create a latency delay because of the digital communications, so don't be surprised if we take the occasional pause in order to let the system catch up with us. In compliance with the bylaws of the corporation, I will preside this assembly. Mr. Simon Rivet, our corporate secretary, will act as secretary for the assembly. Ms. Francine Beauséjour and Ms. Isabelle Vachon from TSX Trust Company will act as scrutineers for the assembly, and they are here in person. The scrutineers have already handed in their report indicating that we do have quorum. Therefore, I declare this assembly legally constituted and will request of the secretary to include the scrutineers' report into the record of assembly. [Foreign language] Corporate Secretary has a copy of the call to meeting as well as the connected documents which were sent to shareholders as well as an affidavit from the transfer agent confirming that these documents were sent out. On behalf of those who will speak today, I point out that some of these statements may include prospective information. A detailed notice concerning prospective statements appears on the screen and on page 33 of our annual report for 2024. Prospective statements offer no guarantee regarding the future performance of the corporation and subject to risks both known and unknown and some uncertainty which makes it that it's possible they might not occur. Financial statements and auditor's report now. These are a part of the annual report for the corporation that have been sent to all corporate shareholders who have made a request and this within the legal deadline. The Annual Report for 2024 in French and English is available on the corporate internet website as well as on SEDAR+. The company has had good results in 2024 in a market that is constantly evolving, and these results were compliant with the financial directives that we had stated at the beginning of 2024. As I'd stated, the company results were influenced by investments and required expenses linked with the transformation of the supply chain for the company. 2024 was marked by the implementation of the new fresh products warehouse and distribution center in Toronto, which was the final step in the modernization of infrastructure for the company, a project that was undertaken seven years ago. During these seven years, the board, after having approved and closely followed this major project, supported senior management in its initiatives in order to make sure we have a modern supply chain that lets us be more efficient and better serve our clients. The board has also supported senior management in its investment policy in the pharmacy and food store network, opening new stores, renovating, enlarging, or relocating existing stores in order to be more competitive and to offer better customer service. With the success of the Moi Loyalty Program launched in Quebec in 2023, Metro extended the program into Ontario under the name Moi Rewards in a partnership with RBC and its Avion Récompense program. The board approved this initiative and offered its support to senior management in the deployment of this substantial project, which so far has been a great success. This performance and these projects could not have been carried out without rigorous work and commitment on the part of senior management, our employees, retailers, pharmacist owners, which has allowed the company to carry out such fine performance and to meet these challenges. The board, via its governance committee and its corporate responsibility committee, has continued overseeing the company's activities in light of the priorities set out in our corporate responsibility program 2022-2026 by approval of the annual corporate responsibility report in which we disclose for the first time its greenhouse gas reduction objectives based on science. This had been approved by the board in 2023. Furthermore, the board also reviewed and approved the first published report pursuant to the Fighting Against Forced Labor and Child Labor in Supply Chains Act, which shows how the company evaluates its suppliers' practices. Also, the board, on a recommendation of the Human Resources Committee and with the help of its compensation consultant, reviewed senior management's compensation plan and has approved a new share unit regime based on performance. This new regime will measure performance at the end of a three-year cycle, contrary to the sum of the three years of annual objectives in the old program, and will involve a corporate responsibility aspect as well. Furthermore, new requirements in matters of minimal holding of shares for senior management, taking into account overall direct compensation, have been adopted by the council, by the board, rather. These new requirements come into force this year. The board thinks that these changes will better align the company's compensation practices with its performance and therefore will defend even further shareholder interests. As with each year in the context of our engagement policy with shareholders, the governance and corporate responsibility President, as well as myself, met with some of the major shareholders of the company in order to discuss topics about the board of directors, including its renewal and diversity within the board, the strategy and plan for corporate responsibility, including the climate strategy, as well as governance matters. These meetings allowed us to have a constructive dialogue with shareholders on topics of importance for the board, for the corporation, and for shareholders in general. The board considers that its present composition is quite appropriate and allows a diversity of viewpoints, of origins, of competencies, and experiences, all this in the interest of the company and its shareholders. I'd like to thank members of the board for the collaboration and their commitment in making Metro a high-performing, innovative, inclusive company that continues to build the future. Finally, thank you to our shareholders for the trust and support that you are continuing to show us. Now, I'd like to pass the mic to Mr. Éric La Flèche, our CEO. Thank you, Pierre. [Foreign language]. Good morning, ladies and gentlemen. Thank you for being there with us this morning. Thank you for attending this year's shareholders' meeting, whether online or in person. As usual, I'll present firstly the highlights of our fiscal year 2024, which concluded last September, and then our priorities and opportunities for this year, and I'll conclude with our first quarter results, which have been published this morning. 2024 brought about a return to normalcy in food inflation after three years of strong inflation caused by the war in Ukraine, the pandemic, and different supply chain upheavals. Even if prices have dropped, we're still aware that things remain very expensive, and this is why our teams are working ceaselessly in order to offer the best value possible across all of our banners and in our pharmacies also. We're satisfied with our 2024 financial results. This has been a transition year with the putting into service of two automated distribution centers, the first in Terrebonne for fresh and frozen, and the second for the second phase of the fresh products distribution center in Toronto. We've also enlarged our Laval distribution center for fruit and produce. We've invested more than CAD 1 billion over seven years to build new, substantially automated distribution centers for fresh and frozen products in Quebec and Ontario. These major investments will allow us to pursue our growth, to be more efficient, and to better serve our clients with a greater variety and a better quality of products. I'd like to warmly thank my colleagues and our partners for their hard work, which has allowed us to fully implement these ambitious programs. Our sales figures for 2024 hit CAD 21.2 billion for an increase of 2.4%. Including the 53rd week of fiscal year 2023, the increase of sales has been on the order of 4.4%. Net adjusted earnings have been CAD 973 million. Net earnings per share has been CAD 4.30, same thing as 2023, which is towards the top of the range that we indicated because of temporary costs and more amortization and lower capitalized interests. The share closed the year at CAD 90.15 for an increase of 31.4%. This performance is the result of the great work by our teams and our diversified business model between the pharmacy and food sectors. Super C and Food Basics sales continued increasing at a faster pace than those of the Metro banner, but our banner complementarity is a force that allows us to better serve our customers overall. The pharmacy sector also saw solid performance thanks to strong growth in prescription drugs, specialized medications, over-the-counter medications, and the introduction of new clinical services. Along with our affiliated Metro retailers and the Jean Coutu and Brunet pharmacist owners, we've continued investing in our stores and pharmacies in order to offer an experience that meets the ever-increasing expectations of our customers. We've opened in total nine new food stores, including eight that are bargain banners. We've enlarged and made major renovations in five Metro and two Super C stores in Quebec. In Ontario, we made major renovations in three Metro stores and a Food Basics store. In the pharmacies now, we have three new divisions that opened their doors, and we have 12 cases of major renovations and enlargement. Following the Moi program launched in Quebec two years ago, we launched Moi Rewards at Metro and Food Basics in Ontario while reinforcing our partnership with the Royal Bank. Consumer response, rather, has been very encouraging. In less than four weeks, Moi Rewards had more than one million members and has one and a half million now. The Moi program is available in eight banners and across 1,175 stores and pharmacies in Quebec, Ontario, and New Brunswick. We now have more than four million members in the program, and this is more than CAD 115 million, which have been remitted to members of the Moi program since its launch. We continued in deploying our digital plan and enriching our online product offer. Sales online increased by 46% thanks to the Instacart marketplace as well as Uber and our pickup service, which is now available in more than 150 discount banners in 230 Metro stores. This service is also offered in 300 pharmacies, and we've also broadened our partnership with Uber for quick delivery at the Jean Coutu and Brunet outlets. Jean Coutu and Brunet have continued playing their essential role as a first-line service to lighten the pressure on the healthcare system. They have made more than three million consultation events in their broadened field of practice now. Bill 67 was adopted by the National Assembly of Quebec, which lets pharmacists increase the number of situations in which they can help their patients. This is an important development for the practice of pharmaceutical services and a significant gain for patients who gain greater accessibility to the care offered in the 525 Jean Coutu and Brunet pharmacies. These new responsibilities will officially come into force when the government will adopt the regulatory framework linked to project to Bill 67 at the latest this year. 2024 was the third year of our corporate responsibility plan for 2022 to 2026. We've progressed regarding most of our targets. We've also published for the first time our results. The results regarding our five objectives for greenhouse gas reductions. We're proud of the significant improvement in our rate in turning away residual matters from landfills, and after many years of efforts, all major retailers have voluntarily bought into the code of conduct for the grocery sector. Metro had committed to sign this in 2021, and this code of conduct will favor greater transparency in negotiations between retailers and suppliers and will give us a more resilient supply chain. We continue innovating in matters of community investments. Apart from supporting a number of organizations and institutions, we launched the Metro shared kitchens, collective kitchens, along with Banque alimentaire du Québec. We invested almost CAD 2 million, and this project, creating community kitchens across the province, offers spaces and opportunities for cooking workshops and community activities. We want to extend this network across Quebec and Ontario according to community needs. Financial year 2025 is well underway already, and our teams are working ceaselessly to surpass our customers' expectations. In order to do this, six priorities for this year have been defined. We want to realize our budgets and business plan, execute in an excellent manner our plan in stores and pharmacies, cut down costs and become more efficient, engage with our customers and increase loyalty, continue to develop the best team, and reach our objectives in matter of corporate responsibility. Substantial investments in modernizing our supply chain have already been put in place. We are now concentrating on gaining efficiency and improving our service across our network of stores. We're in a good position to pursue growth and expansion of this retail network in the years to come. We plan to open 12 new stores in 2025, most of these being discount banners. In the pharmacy sector, we have 30 major projects, including 12 enlargements, 18 major renovations, including nine pharmacies with the new concept for 2025. We will continue with our growth and the growth of our profits gradually throughout 2025. We are maintaining in the mid to long term an 8%-10% growth of net adjusted earnings per share. Quarterly results now. These were announced this morning. This concludes the 21st December last. Sales have been CAD 5.1 billion, an increase of 2.9%. Sales were affected negatively by the transfer of two important Christmas shopping days from the first quarter to the second quarter. Sales in comparable food stores is seen an increase of 1% and an increase of 2.4% if you take into account the transfer of sales at the Christmas time that I've just described. Pharmacy sales have increased by 5.1%. Net adjusted earnings have reached CAD 245.4 million for an increase of 4.4%, and net diluted earnings per share was adjusted, has increased, has been CAD 1.10, an improvement of 7.8%. This leaves us in a position where we are quite confident for the remainder of the year. Yesterday, the board declared a quarterly dividend of CAD 0.37 per share for an increase of 10.4%, representing 33% of net adjusted earnings for 2024. This is our 31st year of dividend growth. Before concluding, I'd like to remind you that last October, we announced some changes within the senior management. After 12 years, the company, François Thibault, VP, CFO, and Treasurer, decided to retire next spring. Thank you, François, for your solid leadership and your important contribution. Marc Giroux, who was VP, Executive VP and COO for the food sector, has added the supply chain and purchasing to his responsibilities and is now COO for Metro. These good results have been the result of hard work by all of our teams who, with passion and commitment, were inspired by our reason for being, our mission, which is to feed and ensure the well-being of our communities. We try to offer our clients the best possible value, and we seek to have a positive and sustainable impact in our communities. I'd like to thank all of our employees, retailers, pharmacists, as well as my colleagues at senior management for their commitment and excellent work. Thanks as well to the members of the board for their continuous support and to you, shareholders, for your trust. Finally, thank you to all of our customers who choose and give us a reason for being. Thank you. Thank you, Eric. Now I'll invite Mr. Simon Rivet, Secretary for this assembly, who will explain the voting process that will be used during this assembly and how you can address the assembly if you wish to speak out. Thank you, Mr. Chair. This is how we will vote regarding all the matters about which we will hold a vote. For shareholders who are online, the vote will be done directly on your screen during the entire assembly. For those in person, you'll be voting using the electronic device that was handed to shareholders before the beginning of the assembly. A single ballot will appear on the screen or on your device. This will include all the questions that have to be voted on today. You'll be able to fill your ballot throughout the assembly until we close the vote. Voting is now open, and you can vote immediately on all the resolutions. Only duly appointed proxies and registered shareholders have a right to vote. If you've already voted in a vote linked to your common stock, your vote will be exercised by your proxy, so you won't have to vote again if you've already voted. For those who are online, if you haven't exercised your common shareholders' voting rights and you've already joined the meeting using the 13-digit code or using a 13-digit code supplied by the transfer agent for proxy holders, you may vote immediately online so that your vote can be accounted for. For shareholders and proxy holders who are here in person, you have to vote using the electronic device that was handed to you before the beginning of the meeting. Votes will be counted by scrutineers who will remit a final report on the vote after this assembly. Preliminary results will appear on the screen after each item voted on. Definitive results will be published on SEDAR+ tomorrow and will be available to the media. If you're a shareholder or a proxy and you wish to speak to the assembly, here's how to proceed. For those who are online, you can do it by writing or by phone by sending your phone number so that we can contact you. This can be done by using the chat function under the tab Message. You can also do it via webcast by clicking the Request to Speak button under the tab at the top of your screen in order to speak and ask your question. An operator will communicate with you directly via the Lumi platform at the right moment in order to verify that your microphone and camera are properly working. We will invite you, if you may, to submit your questions and comments ahead of time so that we can deal with them at the opportune moment and as effectively as possible. For shareholders who are here in person, you can step up to a microphone in order to ask your question at the right moment. Your questions will be dealt with at the end of the question period, at the end of the assembly. However, if you want to speak out before this regarding a point on the agenda, you simply have to ask a request to speak, and you will be given the opportunity to do so at that point. I'll receive your questions and comments, and we'll read them out loud and we'll let you speak, after which the president of the assembly, the CEO or Executive VP, CEO or Treasurer will answer your question. We've put in place necessary arrangements in order to let shareholders who have submitted proposals to explain the proposal. Those who have submitted proposals and who have withdrawn them afterwards will also be allowed to explain the why and wherefore of the proposal they have made and withdrawn. Thank you, Mr. Rivet, for these explanations. I'd like to add that in order to facilitate the voting process, myself as well as Mr. Simon Rivet will move and second as shareholders some of these proposals. We will now vote for the members of the board. Current bylaws stipulate a minimum of seven and a maximum of 19 board members, the number of directors being established now and then by a resolution of the board. Presently, the board has settled on 12 members of the board to be elected. The corporate bylaws stipulate that each director is elected for a term of one year beginning at the date at which the person has been elected and finishing at the same date at the next shareholders' assembly in a year's time. Senior management suggests 12 candidates to fill out the board. Please rise when we call out your name. We have Ms. Lori-Ann Beausoleil, myself, Maryse, François Jean Coutu, Michel Coutu, Stephanie Coyles, Geneviève Fortier, Marc Guay, Eric La Flèche, Christine Magee, Brian McManus, Pietro Satriano who unfortunately is not with us today. Did I? I forgot Maryse. The teleprompter was going too fast. I'm sorry. I think it's because you didn't want to get up and stand. I'm sorry, Maryse. The board recommends a vote in favor of all of these 12 candidates as directors of the board. Can someone move and now? Second, I propose that the 12 candidates be submitted to a vote at this assembly. Mr. Chair, I second this motion. Yes, thank you, Mr. Simon Rivet. We'll take a few moments now to check if there are any questions or comments from shareholders or proxy holders regarding this particular proposal. Mr. Rivet, have we received comments or questions regarding this proposal for election of the 12 board members? No, none. We'll take a few moments then to let the shareholders who have not yet voted so that they can vote for each candidate by filling out the voting ballot that appears on the screen. I'll remind you that in order to be elected, candidates must receive a favorable vote from the majority of voters. Scrutineers have informed me that the preliminary vote by proxies received by the corporation ensures the election of the 12 candidates suggested by management. Preliminary results are now posted on the screen. Final results will be published on SEDAR+ tomorrow. I declare the 12 proposed candidates elected as members of the board of directors. Ladies and gentlemen, congratulations for your election to the board of directors. Now we must choose auditors for the corporation. We suggest the nomination of Ernst & Young, professional certified accountants. Can we have a mover and seconder? As a shareholder, I propose that Ernst & Young, professional accountants, be named as auditors for the company for the current fiscal year. I support this proposal. We'll take a few moments now to see if there are any questions or comments on the part of shareholders or proxy holders regarding this proposal of choosing Ernst & Young as auditors. Do we have any questions or comments, Mr. Rivet? We received no comments nor questions. We'll now take a few moments to let shareholders who have not yet voted. We'll let them vote by filling out the voting ballot that appears on the screen when you select the voting icon in the control center at the top of the screen. To be adopted, the resolution must receive the favorable vote from at least the majority of voters and shareholders. Scrutineers tell me that results are already received. I assure that Ernst & Young will be the auditors for the corporation. You can see on the screen the temporary results, and the final results will be on SEDAR+ tomorrow. Now we'll proceed with a vote on the consultative resolution regarding the compensation of senior management as set out by the consultative vote policy on compensation of the corporation. The complete wording of this resolution is at page 20 of the proxy circular dated 11 December 2024. The board recommends voting in favor of this resolution. As a shareholder, I propose that the consultative resolution described at page 20 of the 2024 circular concerning the consultative voting process on the compensation of senior management should be adopted. Can someone second this proposal? As a shareholder, I support this proposal. Okay, we'll take a few moments now to see if any questions or comments have been sent in from shareholders or proxy holders. Mr. Rivet, have we any questions or comments? No, no questions nor comments. We'll take a few moments to let the shareholders who have not yet voted to fill out the ballot appearing on the screen when you select the voting icon in the toolbar at the top of the screen. To be adopted, the resolution must receive an affirmative vote from at least a simple majority of votes expressed by the common shareholders at the assembly. Scrutineers tell me that the votes already received assure the adoption of this resolution. Preliminary results are available on the screen. Final results will be published on SEDAR+ tomorrow. I declare this resolution rather adopted. Now we'll proceed with a vote on the resolution dealing with the reconfirmation, modification, and update of the shareholders' rights regime for the corporation. The complete wording of this resolution is at page 105 of the proxy circular of 11 December 2024. The board of directors has approved the reconfirmation, modification, and update of the shareholders' rights regime during its meeting of December 11 last and recommends voting in favor of this resolution. Can I have someone to move and second? As a shareholder, I propose that the resolution described at page 105 of the 2024 circular regarding reconfirmation, modification, and update of the shareholders' regime be adopted. As a shareholder, I second this motion, this proposal. Thank you, Mr. Rivet. Now we'll take a few moments to see if there are any questions or comments on the part of shareholders or proxy holders. Any questions or comments received? Mr. Rivet? No, no questions, no comments. We'll take a few moments now to let shareholders who have not yet voted. They can vote by filling out the ballot that appears on the screen when you select the voting icon at the toolbar. On the toolbar at the top of your screen, in order to be adopted, the resolution must receive a positive vote from at least a simple majority of votes expressed during the assembly by holders of common shares. Scrutineers tell me that results received so far assure the adoption of this resolution. Preliminary results for this resolution are available on the screen right now, and definitive final results will be available on SEDAR+ tomorrow. Therefore, this resolution is adopted. Four proposals were submitted by shareholders, that is, the Accountability Board as well as the Mouvement d'éducation et de défense des actionnaires, also known as MEDAC. Only one has been submitted for a vote during the assembly, which is the MEDAC resolution or proposal. The three others have been withdrawn. We've agreed with the MEDAC before the meeting that we would give the MEDAC three minutes to express or to detail its proposal, which is found, its wording is found in the 2024 circular. Mr. Willie Gagnon, representing the MEDAC, will explain the proposal. Willie Gagnon of the MEDAC, Movement for the Defense and Education of Shareholders, as with every year, we make proposals. You're the first assembly that we have in person here this year. We're happy to see you again in person. It's a smaller room. There are a fewer participants, but we understand that there are people who are there at home. Our proposal, which is the only one, the proposal aims at imposing a limit on the auditors, the auditors' term. After a certain duration, after a certain period of time, there should be a change in the auditors. Rather than there are a number of companies that set out a limit for the mandate of a given auditor. On page, if you can understand that at page 59 in the circular, where we can read the audit committee's mandate, they say independence and qualifications of internal and external auditors, performance of internal auditors, and the company's auditors. These fall under the responsibilities of the audit committee. So, given last year's results, there was 16% of support. We're used to seeing one, two, three% support for our shareholders here at these meetings, but it's not only the MEDAC that has voted in favor of this. We're inviting all shareholders to support the proposal, to impose the proposal aiming at imposing a limit on the duration, maximum duration of mandates for a given auditor. We recommend voting against this for reasons set out in Annex C of the 2024 document. This touches on important issues for us. If we recommend voting against this proposal, it's because the audit committee closely examines the performance, the quality of the work, and the independence of the company's auditors in order to guarantee the highest standards. This rigorous examination process includes a complete annual assessment of the quality and independence of our auditors, and this report is sent to the auditors. Regulations in Canada impose a rotation of persons in charge of the audit mission and other associates every seven years. Publications and recent research have supported this practice. The audit committee has determined that shareholders won't be better served by imposing arbitrary limits to the duration of audit companies' mandates. The external regulatory framework is solid, and we have policies to ensure the quality and independence of our auditors, and this is assessed every year. We'll now take a few moments to verify, see if there are any questions or comments from shareholders or proxy holders as regards this proposal. Mr. Gagnon, I have a question on our proposal. For how long have you been dealing with these particular auditors, and what is the nature of the work that the audit committee does as when it comes to assessing the relationship they have with the auditor, and the time during which you have a relationship with the auditor? In other words, how does the audit committee make sure that the auditors should not be changed or should be changed, that they are doing their work competently and independently? Your response in the circular seems relatively opaque. I don't understand how it works. François, could you respond to Mr. Gagnon? Well, it's set out in the circular. The audit committee meets with the auditors on a regular basis. We ensure that their work is compliant with our standards, that they are independent. We ensure that their services are good at a competitive price. This is why we think our shareholders are better served by continuing with this auditing firm. Mr. Rivet, have we any questions or comments? No, none. We'll take a few moments now to let shareholders who have not yet voted to vote by filling out the bulletin, or rather the voting ballot that appears on the screen when you select the voting icon at the toolbar at the top of the screen. To be adopted, the proposal must receive an affirmative vote by at least a simple majority of votes expressed by common shareholders. In a few seconds, we'll be concluding the voting period. The voting period is closed now. Scrutineers have informed me that proxy votes received by the corporation do not allow for the adoption of this proposal. Therefore, this proposal is duly rejected. Preliminary results of the vote are on the screen presently. Final results will be published on SEDAR+ tomorrow. Three other proposals were submitted by shareholders, i.e., the Accountability Board and the MEDAC. Following discussions between the company and the shareholders, the shareholders withdrew their proposals, and these will therefore not be voted on during this assembly. In spite of the withdrawal of the proposals, we agreed with the MEDAC that they could present their proposals. The Accountability Board, the other shareholder, having presented a proposal that was withdrawn, agreed that they would not present the proposal. The company has reproduced the text of the proposals and related information at Annex C of the 2024 circular. It was agreed with the MEDAC that the company would give its representative three minutes approximately to present the proposals. Now we'll hear from Mr. Willie Gagnon representing the MEDAC. He will explain the two withdrawn proposals. Last year, we sent a proposal regarding the return of in-person assemblies. That's the case. That's what we have now. We received 53% of support on this proposal. This is very, very rare. MEDAC has been active for 30 years. We rarely win a vote. This is one of the rare times we did win the vote, and the reason why we sent the same proposal this year is to see what you've made of this result. In your response, you say, "We have chosen to have a hybrid meeting online and in person this year," so we hope that this won't disappear completely because it's good to see an in-person assembly once again, even if it's on a smaller scale. We want to continue with our engagement with shareholders, and in the future, we'll take every possible reasonable measure to have meetings in person or hybrid. However, if something such as a new pandemic occurred, then meetings would go back to an online status. Since this is one of the first assemblies of the year, shareholders' assemblies, we would like to give the right example to other corporations who are about to hold their assemblies. So we're happy that we did win on this score. Not only that you're having an in-person assembly today, but that you are committing to do so in the future unless a new pandemic or other act of God occurs. Proposal 3 is proposed that the company adopts a voluntary code of conduct regarding generative artificial intelligence. This was a code of conduct that was created by the federal government last year. And in your response, you say, while you set out a bunch of reasons for which you respond in this sense, the company intends to adopt other applicable measures set out in the code between now and the end of 2025. We're happy to see you do this because it will serve as an example to other corporations. This is a generic type of code of conduct, and some companies don't want to sign or to adhere to the code because it doesn't deal with artificial intelligence. But there's legislation, regulation coming up, but this will be a stopgap measure. So we're happy to see that you are buying into this code of conduct, and we're using your example to encourage other companies to do likewise. I'm glad to see this commitment on your part. Thank you, Mr. Gagnon. Now we'll move on to the question period. Journalists will be invited to the next room where on Teams platform, and in that room, the room next to us here at 11:30 A.M., we'll hold a meeting with the press. Only duly appointed shareholders and proxy holders are allowed to ask questions. Please identify yourselves clearly before asking your question. You can ask a question in writing via the virtual microphone and the one that is in this room by asking to speak, or by phone by sending us your name and phone number so that we can contact you. All this can be done by using the messaging icon or the request to speak icon. Please make your questions short, and if you have a number of questions, please submit them one at a time. This will allow a maximum number of people to express their viewpoint. If a number of written questions present an overlap, we'll choose the question that best represents the question. Sometimes we may experience a delay because of the digital transmission. For this reason, don't be surprised if you see a delay of a few seconds during our interactions with shareholders who contact us via telephone. My name is William Wiesenthal. I'm a shareholder. And also, first of all, I want to commend. I shop at Metro, and I'm a client of Jean Coutu. I think you've instilled a culture of trying to help the people as best you can. And despite the public perception, I think Metro is doing a creditable job under very challenging circumstances. But my question concerns food waste, and I'm wondering. I'm not sure who to address this question to, but could somebody speak a little bit about how or what steps you're taking? There's still a fair amount of food, impact food that ends up in the garbage. Eric, you want to take this? Sure. Thank you for your positive comments. We appreciate them. We've done a lot on food waste over the past several years. We've established many programs throughout our store network and our distribution centers in both Quebec and Ontario, and we've made substantial progress to reduce waste. I'm not going to give you specific numbers, but first of all, in store, we will reduce the price on the last day of sale to minimize losses in there and then sell it at a discount to our customers. The products that are not sold that way are given to the food banks in both Quebec and Ontario. So we set up a whole system a few years ago called Récupartage, and we were behind or one of the large contributors to the fundraising campaign for the food banks to equip themselves and to have the infrastructure in trucks and warehouses and refrigeration to accept all the food that we have in our stores to give. So that was a great success, and that helped to reduce waste and helped a lot of communities throughout the province, both provinces. So I think we can be proud of the work that's been done. My other comment would be is that in the various stores, can you use some of the produce for salads? There's a lot of prepared foods that are on the shelves, and I'm wondering whether it would save somehow if the store, like you usually have. So in our stores where we have ready-to-eat or where we serve meals, we do use our produce and our fresh product from our stores, and we cook with them and we make sandwiches and we make meals. So in several stores, that's what's happening. Where there is that service, we source product outside and we use product from inside our stores too. Okay, that's great. Thank you. Yeah. Thank you. [Foreign language] My name is Ioannis Gauthier, and I'm a shareholder. I'd like to know what your vision is. What is your vision for Metro in the long term? What position are you adopting in terms of a competitive advantage in the face of Loblaws and other competitors? I'd like to hear you on this. Thank you. I think we're well positioned to continue with our growth. Metro is more than 75 years old. We hope to be there for another 75 years of growth. We have a choice position in the Quebec market, the Ontario market as well, both the pharmacies and the stores. We have a diversified model. Within the food business, we have a number of diversified banners. We have specialized banners such as Première Moisson, Adonis. So we have a portfolio of banners both in the food and pharmacy sectors that allow us to reach and serve a very broad customer base. We are big enough to be competitive. So I think we're in a very good position to continue growing, organically growing, getting further market share, satisfying our customers. We've made strategic acquisitions over the past 30 years, and we hope to make more such acquisitions, and we have a solid financial position. So we're confident that we're well positioned to continue growing. Do you have ideas about what distinguishes you, differentiates Metro from the competition? We try to innovate to distinguish, and we have the first differentiator is our team, I think. And the excellent team that we have allows us to create great value for shareholders. Bonjour. Michel Gauthier, shareholder. Speaking of initiatives, the central kitchen for ready-to-eat meals and Metro Manufacturing Group, tell us more about these two initiatives. Are they profitable? Yes, they are profitable, but this is the source of our prepared meals, particularly for Adonis. Primarily, it's the kitchen that prepares the meals for the Adonis stores, both in Quebec and Ontario. This is something that existed within each of the Adonis stores, and when Adonis began opening new stores, they were lacking space. So we concentrated the food preparation in a single place. We also prepare products that can be sold elsewhere. For instance, we make baklavas there, which are sold under our other banners and other specialties that we can sell at Metro or some of the discount banners. A final question. When you say that among your priorities for this year to implement our business plan, what do you mean? You know, each division, every banner establishes its budget and its business plan for the year. This is a fundamental aspect of our way of managing. We want clear plans. We want to set out some financial objectives and pursue them. So to reach our objectives every year, well, we need a plan, and we have to execute it correctly. This is what we try to do every year. Thank you. Monsieur le Président, Willie Gagnon from the MEDAC. Ever since the pandemic, we've seen many standard or ordinary banners become discount banners. Going from, say, a Loblaws banner to a Maxi or a Metro to a Super Carnaval or a Food Basics. Non, Carnaval, that's kind of in the distant past. You're revealing your age now. Earlier in your presentation, you said that you plan to build 12 new stores this year, most of them being discount banners. How many in Quebec and how many in Ontario will be built? And how many will become Super Carnaval stores? Okay, the 12 new stores, most of them will be new, well, most of them will be discount banners, but there'll be a new Metro and a new Adonis in Ontario. We won't give you the addresses and the dates exactly. There are some store conversions, but not that many. Most of them are new stores in new markets. We converted two Metros to Super C this fall in Rigaud and Rimouski. We're happy with that. There may be a few more, but most of these 12 will be new ones. So there's a real trend. Oh yes, yes, the discount market is growing more quickly than the conventional market. People find food expensive. They want to save money. So yes, this is an underlying trend that has accelerated over the past few years. Our competitors have converted some of their stores. We have done some as well, but not massively. Metro in and of itself is doing well. Good. I hope the Metro in my neighborhood won't close. No, I don't think so. Okay. Just a final question. We're looking at the trend towards discount banners, rather. How about organic products, these products that are healthier, that are more expensive? Are you going to look into that direction as well? We are doing that. And all of our banners, whether it's Super C, Food Basics, Metro, we're selling healthier products now. This meets customer demand. We're also selling more organic products too. This is growing, and we're looking at this closely. And both in our private labels and national label products and fresh products, there are more and more organic and healthy choices. So we try to respond to customers' needs as much as possible in all banners. Since there seem to be no other questions and comments to be submitted to the assembly, unless there's an objection, I think the time has come to conclude this assembly. Can I have someone to move the end of this assembly? I propose that we close this assembly. As a shareholder, I second that motion. Thank you, Mr. Simon Rivet. This proposal is duly adopted, and we are duly concluding this assembly. But firstly, I'd like to thank all the persons who were involved in the preparation of this assembly. Thank you as well to our shareholders, directors, and employees who have joined us today. So this concludes our assembly for 2025. Thank you.