City Council as Shareholder of GJR

That the minutes of the open City Council as Shareholder of GJR meetings held June 25, 2024, be confirmed as recorded and without being read. Voting

That City Council in its capacity as the Shareholder of the Guelph Junction Railway Limited receive the Guelph Junction Railway Limited 2024 Annual Report and Audited Financial Statements for information. Voting

That the staff report dated June 24, 2025 entitled Guelph Junction Railway Limited – Governance Update be received. That the Amended and Restated Shareholder Declaration of The Corporation of the City of Guelph, as the sole shareholder of Guelph Junction Railway Limited, included as Attachment-1, be approved by resolution of the shareholder. That the Amended and Restated By-law Number 1 of Guelph Junction Railway Limited, included as Attachment-2, be approved by resolution of the shareholder. That the resignation of Tara Baker from the position of Chief Executive Officer of Guelph Junction Railway Limited be accepted and take effect at 11:59pm June 24, 2025. That the appointment of Jayne Holmes as Chief Executive Officer of Guelph Junction Railway Limited, as recommended by the Board of Directors, be approved, to take effect as of 12:00am June 25, 2025 and to hold office for the length of time to be determined by the directors, at their discretion, subject to earlier resignation or removal. That Gene Matthews be elected as a director of Guelph Junction Railway Limited to hold office for a term of up to three (3) years, subject to earlier resignation, removal, or election of his successor. That the appointment of Gene Matthews as Chief Financial Officer of Guelph Junction Railway Limited, as recommended by the Board of Directors, be approved, to hold office for the length of time to be determined by the directors, at their discretion, subject to earlier resignation or removal.

That the meeting be adjourned (6:31 p.m.).

1. That the minutes of the open City Council as Shareholder of GJR meetings held June 25, 2024, be confirmed as recorded and without being read. Voting in Favour: (10): Mayor Guthrie, Councillor Allt, Councillor Billings, Councillor Busuttil, Councillor Caron, Councillor Caton, Councillor Chew, Councillor Downer, Councillor Goller, and Councillor Klassen

1. That City Council in its capacity as the Shareholder of the Guelph Junction Railway Limited receive the Guelph Junction Railway Limited 2024 Annual Report and Audited Financial Statements for information. Voting in Favour: (11): Mayor Guthrie, Councillor Allt, Councillor Billings, Councillor Busuttil, Councillor Caron, Councillor Caton, Councillor Chew, Councillor Downer, Councillor Gibson, Councillor Goller, and Councillor Klassen

1. That the staff report dated June 24, 2025 entitled Guelph Junction Railway Limited – Governance Update be received. 2. That the Amended and Restated Shareholder Declaration of The Corporation of the City of Guelph, as the sole shareholder of Guelph Junction Railway Limited, included as Attachment-1, be approved by resolution of the shareholder. 3. That the Amended and Restated By-law Number 1 of Guelph Junction Railway Limited, included as Attachment-2, be approved by resolution of the shareholder. 4. That the resignation of Tara Baker from the position of Chief Executive Officer of Guelph Junction Railway Limited be accepted and take effect at 11:59pm June 24, 2025. 5. That the appointment of Jayne Holmes as Chief Executive Officer of Guelph Junction Railway Limited, as recommended by the Board of Directors, be approved, to take effect as of 12:00am June 25, 2025 and to hold office for the length of time to be determined by the directors, at their discretion, subject to earlier resignation or removal. City Council as Shareholder of GJR Minutes: June 24, 2025 - 3 6. That Gene Matthews be elected as a director of Guelph Junction Railway Limited to hold office for a term of up to three (3) years, subject to earlier resignation, removal, or election of his successor. 7. That the appointment of Gene Matthews as Chief Financial Officer of Guelph Junction Railway Limited, as recommended by the Board of Directors, be approved, to hold office for the length of time to be determine