On June 6, 2024, Saputo Inc announced that it has received the shareholder proposals from Mouvement d?éducation et de défense des actionnaires (MÉDAC). These proposals include: (1) the Board of directors consider introducing a new approach to incentive compensation with the goal of tying a portion of all employees?(i) compensation to the organization?s performance in terms of its main ESG goals, (2) the annual meetings of the company be held in person, virtual meetings can complement, but not replace, in-person meetings, (3) the language proficiency of executives be disclosed in the management proxy circular, and (4) the company adopt an annual advisory voting policy with respect to its environmental and climate action plan and objectives. The Company stated that discussions with the company, MÉDAC has agreed not to pursue a vote on the first three proposals at the upcoming meeting.

However, Saputo has urged shareholders to vote against MÉDAC's fourth proposal, which calls for an annual advisory voting policy on the company?s environmental and climate action plan and objectives, at the AGM scheduled for August 9, 2024.