Loop Industries, Inc. Common Stock FY 2026 Earnings Call

Good morning. I'm Daniel Solomita, Chairman, President, and Chief Executive Officer of Loop Industries. On behalf of our board of directors, management, and the entire Loop team, I want to welcome you to our 2026 annual meeting of stockholders, which is a virtual-only meeting. I will conduct the order of business for this meeting. We have asked our corporate secretary to record the minutes of this meeting. Before we begin the formal business, I'd like to introduce the members of our board of directors and director nominees joining us today, Laurence Sellyn, Louise Sams, Jay Stubina, Spencer Hart, Laurent Auguste, and Jeff Geygan. Also with us today are representatives from the independent registered public accounting firm, PricewaterhouseCoopers, and several members from Loop's team. The annual meeting is held in accordance to the company's bylaws and Nevada law.

During the formal meeting, we will address the matters described in the company's proxy file statement filed on June 9, 2026, the proxy statement supplement filed on June 22, 2026, which include the election of Laurence Sellyn, Laurent Auguste, Louise Sams, Jay Stubina, and Spencer Hart to serve until the next annual meeting of stockholders or until the representative successors have been elected and qualified, the ratification of the appointment of PricewaterhouseCoopers as the company's independent registered public accounting firm for the fiscal year ending February 28, 2027, the advisory vote to approve the compensation of the company's named executive officers, the amendment to the 2017 Equity Incentive Plan, and election of Jeff Geygan to serve until the next annual meeting of stockholders or until his successor has been elected and qualified.

Stockholders who have not yet voted or who wish to vote to change their vote may do so now by clicking Vote Here button on the screen. After we complete the formal meeting, there will be a question and answer period. Only validated stockholders may ask questions in the designated field on the web portal. Out of consideration for others, please limit yourself to one question. During the formal meeting, questions should be restricted to the procedures for the meeting and the proposals under consideration. Thank you for your understanding. Please note that during the course of the meeting, as well as the question and answer period to follow, representatives of the companies may make forward-looking statements regarding future events or future financial performance of the company, which involve risks and uncertainties.

Such statements are only predictions, and actual events or results could differ materially from those predictions due to the number of risks and uncertainties. I refer you to the documents that the company files from time to time with the Securities Exchange Commission, specifically the company's last filed annual report on Form 10-K for the year ending February 28, 2026, as well as the subsequent quarterly reports on Form 10-Q and current reports, Form 8-K. These documents contain and identify important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. I have proof by affidavit that notice of the meeting has been duly given and the notice of internet availability of proxy materials was mailed on or about June 19, 2026, to all stockholders of record at the close of business on May 26, 2026, the record date for the meeting.

The affidavit, together with copies of the notice, proxy statement, proxy statement supplement, and proxies, will be filed with the minutes of the meeting. We have appointed Broadridge Financial Solutions, represented by Kathy Weeden, to act as Inspector of Election for the annual meeting. The Inspector of Election has signed an oath of office, which will be filed with minutes of this meeting. The Inspector of Election has advised me that we have present in person or by proxy, sufficient number of shares to constitute a quorum. Therefore, the meeting is duly constituted and may proceed with business. It is now 10:03 on July 23, 2026, and the polls for each matter to be voted on for the meeting are now open. The first item of business is election of Laurence Sellyn, Louise Sams, Jay Stubina, Laurent Auguste, Spencer Hart as directors.

This item is discussed on pages 3 and 4, with further disclosures on page 5 through 12 in the proxy statement. The board of directors has approved Laurence Sellyn, Louise Sams, Jay Stubina, Laurent Auguste, and Spencer Hart as nominees for election. Unless otherwise instructed, the persons appointed in the accompanying form of proxy will vote the proxies received for them and the nominee's name. The term of office for each elected as the director will continue until the next annual meeting of stockholders or until a successor has been elected and qualified. Are there any questions concerning the election of these directors? The board of directors unanimously recommends that the stockholders vote for electing each Laurence Sellyn, Louise Sams, Jay Stubina, Laurent Auguste, and Spencer Hart to serve as director until the next annual meeting of stockholders.

The next item of business is to ratify the appointment of PricewaterhouseCoopers as the independent registered accounting firm for the fiscal year ending February 28, 2027. The item is discussed on page 29 and 30 in the proxy statement. The audit committee of the board, which is comprised entirely of non-employee directors, recommends to the board of directors that PricewaterhouseCoopers be appointed as independent auditors. As the independent auditors, PricewaterhouseCoopers would audit our consolidated financial statements for the fiscal year ending February 28, 2027 and perform audit-related services and consultation in connection with various accounting and financial reporting matters. The board approved the selection of PricewaterhouseCoopers as independent auditors for the fiscal year ending February 28, 2027 and is asking for the stockholders to ratify of the selection. Stockholder ratification is not required by company's bylaws.

The board is submitting this to the stockholders for ratification as a matter of good corporate practice. If the stockholders do not approve the selection of PricewaterhouseCoopers as independent auditors, the board and the Audit Committee will reconsider the appointment. The board of directors unanimously recommends stockholders vote for ratification of the appointment of PricewaterhouseCoopers as the independent registered public accounting firm. Are there any questions concerning this proposal? The next item of business is to hold an advisory vote to approve the compensation of the company's named executive officers. This item is discussed on page 34 with further disclosure on pages 13 through 28 in the proxy statement. This say on pay vote is advisory vote only and therefore will not bind the company or its board of directors or its compensation committee.

The board of directors and the compensation committee will consider the voting result as appropriate for making future decisions regarding executive compensation. The board of directors unanimously recommends the stockholders to vote for the approval of the advisory resolution relating to the compensation of the named executive officers. Are there any questions concerning the proposal? The fourth item of business is to approve and amend the 2017 Equity Incentive Plan. This item is discussed on pages 35 through 40 of the proxy statement. The board believes that it is in the best interest of the company and our stockholders to continue to provide employees, consultants, and directors with the opportunity to acquire an ownership interest in the company through the grant of equity awards under the 2017 plan, thereby encouraging them to remain in our service and more closely aligning their interests with those of our stockholders.

This approach also allows the company to preserve liquidity as it advances towards the commercialization of its technology. The affirmative vote of a majority of the voting power of the shares present in person or represented by proxy of the 2026 annual meeting and entitled to vote on the subject matter is required to approve the plan amendment. Unless marked for contrary, proxies received will be voted for approval for the plan amendment. The board of directors unanimously recommends that Loop stockholders vote for the plan amendment. Are there any questions concerning the proposal? The fifth item of business is the election of Jeffrey Geygan as a director. This item is discussed in the proxy statement supplement. The board of directors has approved Jeff Geygan as a nominee for election.

Unless otherwise instructed, the person appointed in the accompanying form of the proxy will vote the proxies received for the nominee named. The term of office of the person elected as a director will continue until the next annual meeting of stockholders, until their successor has been elected or qualified. I, Daniel Solomita, have been elected to the board via affirmative vote of the sole shareholder of Series A preferred stock, resulting in a total of seven directors. The company's bylaws require the stockholder to provide advance notice to the company of a stockholder's intent to nominate persons as directors. No such notice was received. I declare the nominations for directors closed. Are there any questions concerning the director election? The board of directors unanimously recommends that the stockholders vote for electing Jeff Geygan to serve as director until the next annual meeting of stockholders.

Any stockholder who hasn't yet voted or wishes to change their vote may do so by clicking the vote button on the web portal and following instructions there. Stockholders who have sent their proxies or voted via telephone or internet who do not want to change their vote do not need to take any further action. It is now 10:09 A.M. on July 23rd, 2026, the polls for each matter of voting on or at the meeting are now closed. The votes will be tabulated by the Inspector of Elections. At this time, the Inspector of Election will provide us with the preliminary report on the voting results. Thank you. With regards to proposal one and five, each of the director nominees received the affirmative vote of a plurality of the voting power of the shares present in person or represented by proxy and entitled to vote.

Each of these individuals has therefore been elected as a Loop Industries director to hold office until the next annual meeting with stockholders, or until a successor has been elected and qualified. With regard to proposal two, the appointment of PricewaterhouseCoopers to act as the company's independent registered public accounting firm for the fiscal year ending February 28th, 2027, has been ratified by a majority of the voting power of the shares present in person or by proxy and entitled to vote.

With regards to proposal three, the compensation of the company's named executive officers, as described in the company's proxy statement, has been approved on an advisory and non-binding basis by a majority of the voting power of the shares present in person or by proxy and entitled to vote. With regard to proposal four, the amendment of the 2017 Equity Incentive Plan has been approved by a majority of the voting power of the shares present in person or by proxy and entitled to vote.

These are the preliminary results of voting. The final results of voting will be set forth in the report of the Inspector of Elections and will be included in the minutes of the meeting. Final results will also be included in our reports filed with the SEC. This annual meeting of stockholders is now adjourned. Thank you for your attendance. We will now proceed to the question and answer period. We will now take questions. There are no questions. I want to thank you for attending today's meeting and for your interest you have shown in the affairs of Loop Industries. Thank you very much. That concludes our meeting today.