Maple Leaf Foods

Corporate Governance

Our high level of integrity is reinforced at all levels at Maple Leaf Foods.

The Board of Directors and management commit to a high standard of corporate governance to earn the trust of our shareholders and other stakeholders consistently.

Maple Leaf Foods

Board Mandate

The Board has a formal mandate setting out its responsibilities that includes the Board’s responsibilities for the appointment and development of management, strategic planning, monitoring of financial performance, financial reporting, risk management and oversight of the Corporation’s policies and procedures, communications and reporting, and compliance.

The Board of Directors and Maple Leaf Foods’ management are accountable to the shareholders. All of the Board’s activities aim to preserve and enhance the underlying value of Maple Leaf Foods. The roles of the Board, the Chief Executive Officer (CEO), the Chairman and the individual committees are clearly delineated.

Corporate governance processes and practices are regularly assessed to ensure governance objectives are met.

Management is led by the CEO, who is responsible for the development of a long-term corporate strategy. The Board has clear guidelines to assist in meeting its corporate governance responsibilities. It reviews, questions, validates and approves the strategies of each operating segment of the Company.

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Code of Business Conduct

We are deeply committed to the highest standards of respect and integrity in our business relationships and activities. These standards apply both internally and to business conducted with customers, suppliers, competitors and investors. The Board expects directors, officers, and employees to act ethically at all times.

The Board takes all steps to assure itself of the ethics and integrity of the CEO and the executive officers and to ensure the appropriate ethical conduct procedures are established.

The Code of Business Conduct Policy guides the standards of business conduct expected of all employees at Maple Leaf Foods. The actions of all our employees are framed by our Code of Business Conduct and our Leadership Values. Each year, every employee reaffirms in writing their adherence to the policy at the time of their performance review.

In addition, Maple Leaf Foods operates an EthicsLine to provide employees a means to raise concerns such as fraud, accounting irregularities, product tampering or other issues. All calls are recorded and logged at an independent call centre. They are all tracked and resolved using a case management system. All complainants are protected from reprisals when reporting concerns in good faith. The Audit Committee reviews reports on the calls and their resolution on a quarterly basis.

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Corporate governance documents

Maple Leaf Foods is committed to transparency and accountability. Our formal policies and procedures are reviewed regularly and complement our values-based approach to decision making.