Dear members,

Earlier today, at a special meeting of members, the Canadian Standards Association membership voted 86% in favour of the sale of CSA Group's Testing, Inspection and Certification (TIC) business to Kiwa Group. The number of ‘in favour’ votes for the resolution well exceeds the required threshold of 66⅔% of votes cast and is a clear expression of member confidence in this transaction and the future it makes possible.

With member approval now secured, the transaction remains subject to regulatory approvals and other customary closing conditions. Subject to the timely receipt of all required approvals, we expect the transaction to close around the end of November.

Following completion, the Canadian Standards Association will continue as a member-based, not-for-profit organization, with the existing governance structure, membership model, and standards processes. Proceeds from the sale will be placed in a dedicated entity, CSA Continuity Corp., to serve as a more stable, diversified and predictable source of funding for the Canadian Standards Association's standards activities, alongside continued member, government, and industry support.

The Canadian Standards Association emerges from this with a stronger financial foundation and a singular focus on developing the standards that make our communities safer, healthier and more sustainable. That mission has not changed. What has changed is our capacity to pursue it.

Thank you again for your engagement, your questions, and your confidence in the Board's vision. It is a privilege to serve this membership.

Sincerely,

Jane Peverett

Chair, Board of Directors

Canadian Standards Association