Proxy Voting Policy

From a corporate governance perspective, we believe the right to vote is one of the most important rights inherent to ownership. Letko Brosseau actively considers all issues that may come before shareholders and will vote all proxies on a best effort basis. This is done with the longer term interest of the company, its shareholders and other stakeholders in mind. We believe in the equal treatment of all shareholders and support broad representation on the board of directors. We also seek to ensure that executive compensation and option plans are fair, reasonable and minimize shareholder dilution. We vote all proxies according to our internal Proxy Voting Policy.