CREB^®'s Director Election Review Task Force (DERTF) has been hard at work over the past several months, and I am excited to share an important milestone in that work: the establishment of the Interim Independent Election Integrity Committee (IIEIC) for the upcoming director election.

The DERTF was originally struck by the Board of Directors in January 2026 following the challenges experienced during the November 2025 director election. The task force was initially mandated to determine if any bylaw changes were needed given what occurred last year. Shortly thereafter, CREB^® was served with an originating application related to the decision to reschedule the 2025 election. On the advice of legal counsel, the Board paused the constitution of the task force until it was determined that its work would not affect the legal proceedings.

Following further legal guidance advising that the task force could proceed, the Board reconstituted the DERTF in May 2026 with an expanded mandate to review and make recommendations regarding election-related bylaws, policies, and procedures. Since that time, the task force has undertaken a comprehensive review of CREB^®'s election framework.

What quickly became apparent was that while some recommendations may ultimately require bylaw amendments and broader changes that cannot be fully implemented until the 2027 election cycle and beyond, there were also meaningful improvements that could be introduced much sooner.

The result was a recommendation to establish an Interim Independent Election Integrity Committee (IIEIC) for this year's election.

Why an independent committee?

As the DERTF worked through its review, members identified several opportunities to further strengthen confidence in the election process through enhanced oversight, additional checks and balances, and greater independence at critical election milestones.

A key principle that emerged from those discussions was the importance of an arm's-length approach. The task force concluded that election oversight should be independent of the Board, election participants, and CREB^® staff to ensure there can be no perception of influence, bias, or conflict of interest in election-related decisions.

The Board, of course, would continue to be engaged where required to fulfill legal, regulatory, or fiduciary obligations.

The Board of Directors agreed.

At its September meeting, the Board approved the DERTF's recommendation to establish the Interim Independent Election Integrity Committee and expressed strong support for the work completed thus far.

What will the IIEIC do?

The committee's role is straightforward: provide independent oversight of key election activities and help safeguard the integrity, fairness, and transparency of the election process.

Among its responsibilities, the IIEIC will:

• Independently certify nominee eligibility in accordance with applicable bylaws and policies.

• Confirm that the election has opened properly and that votes are being recorded as intended.

• Monitor the integrity of the election process throughout the voting period.

• Independently certify election results before they are released.

• Provide oversight and guidance should an election disruption, procedural concern, or other unexpected issue arise.

An equally important enhancement is the introduction of CREB^®'s external auditor, Doane Grant Thornton LLP, into key election certification processes. The auditor will participate in the validation elements of both nominee eligibility certification and election results certification, adding an additional layer of assurance and transparency.

The DERTF also recognized that while our existing election framework addresses many aspects of election administration, it does not explicitly address how election disruptions should be managed. As a result, new election disruption guidelines are being developed to provide a clear, principled framework for responding to unexpected situations while maintaining the integrity of the election process.

Collectively, these measures formalize and strengthen processes that already exist, introduce additional oversight where appropriate, and close gaps not requiring bylaw changes that were identified through the review.

Looking ahead to 2027 and beyond

While I am enthusiastic about the role the IIEIC will play in this year's election, I am equally excited about what comes next.

The DERTF's work is broad, detailed, and thoughtful. Beyond the interim enhancements being implemented this year, the task force is putting the final touches on a comprehensive set of recommendations for election oversight beginning with the 2027 election cycle and beyond.

Those recommendations are expected to be presented to the Board later this year. If approved, implementation work will begin in the new year, with member communications to follow. Should any of the recommendations require bylaw amendments, members can expect to see those brought forward through the appropriate governance process, including consideration at a future Annual General Meeting.

At its core, this work is about continuing to strengthen member confidence in CREB^®'s governance processes. The additions being introduced this year codify and reinforce many of the practices already in place, introduce new safeguards where needed, and create a framework for managing situations that previously lacked formal guidance.

We are proud of the progress made to date, grateful for the significant work undertaken by the DERTF, and excited about the improvements that will continue to enhance election integrity, transparency and member trust in the years ahead.