Report re: The Fighting Against Forced Labour and
Child Labour in Supply Chains Act

Financial Reporting Period: January 1, 2024 to December 31, 2024

This report is made pursuant to the Canadian Fighting Against Forced Labour and Child Labour in Supply Chains Act (the “Act”) by BakeMark Ingredients Canada Ltd. (“BakeMark Canada” or the “Company”). The report is made for the financial year ended December 31, 2024 (the “Reporting Period”).

Steps Taken During the Previous Financial Year to Prevent and Reduce Risks of Forced Labour and Child Labour

In general terms, BakeMark Canada took the following steps during the Reporting Period to prevent and reduce the risk of forced labour or child labour in our business and supply chains:

• engaged external legal counsel to assist us review and understand the impact of the Act on BakeMark Canada; and
• conducted an initial internal assessment of the risks of forced labour and/or child labour in our activities and supply chains.

Structure, Activities and Supply Chain

BakeMark Canada is a bakery manufacturer and distributor with seven distribution centres and two production facilities located across Canada. The Company is incorporated under the Canada Business Corporations Act. During the Reporting Period, all of our employees and contractors were located in Canada. Our workforce largely consists of manufacturers, warehouse workers, drivers, salespeople and corporate and administrative service providers.

The BakeMark Canada supplier network includes manufacturers and leading brands from Canada and around the world. Products may be sourced directly from manufacturers or through other distribution centres or brokers. We strive to work with suppliers who operate legally, ethically, and responsibly.

During the Reporting Period, we procured goods and services across a wide range of categories and industry sectors, including the following key goods and services:

ingredients, machinery, uniforms and protective equipment, packaging materials and office supplies.

The majority of our suppliers are located in Canada and the United States, although we appreciate that some of our suppliers supply us with products that originate from other jurisdictions and have their own global supply chains. During the Reporting Period, approximately 70% of our total procurement spend was from suppliers located in Canada. The primary category of supply imported into Canada was raw ingredients, including from the United States, Western Europe, China and Southeast Asia.

Policies and Due Diligence Processes

Providing our customers with safe and high quality food products is of the utmost importance to BakeMark Canada. Although we do not currently have any policies or due diligence processes specific to issues of forced labour or child labour, BakeMark Canada voluntarily contracts with certification bodies to perform annual audits of our manufacturing facilities to ensure the integrity of our food safety and quality programs. Our facilities are also inspected by local and state regulatory agencies.

Identifying and Managing Modern Slavery Risks

Our workforce is located entirely in Canada and are employed on a permanent basis. None of our workers are under the age of 18. The BakeMark facilities in Canada are routinely monitored for hiring practices by the Company’s leadership team and by a national human resources and payroll group. Given the legal regime in Canada and our internal processes, we consider that there is a low risk of modern slavery in our direct operations.

In terms of our supply chain, BakeMark Canada sources the majority of its equipment and other supplies from vendors headquartered in Canada. While the Company is only beginning to map its supply chain, we strive to work with suppliers of good repute who operate legally, ethically, and responsibly. BakeMark Canada acknowledges that additional work is required in order to better understand the risks of modern slavery in our supply chains.

Remediation Measures

BakeMark Canada has no knowledge of forced labour or child labour in its operations or supply chain. As a result, we have not had to take any measures to remediate any forced labour or child labour or to remediate a loss of income for vulnerable families.

Employee Training

BakeMark Canada does not currently provide training to employees on the topics of forced labour or child labour.

Assessing Our Effectiveness

BakeMark Canada recognizes that we have a responsibility to assess and mitigate the risk of modern slavery in our operations and supply chain over the long term. We are continuing to assess the risks of modern slavery in our operations and supply chains. We have not yet taken any actions to assess the effectiveness of any actions.

Approval and Attestation

This Report was approved pursuant to subparagraph 11(4)(a) of the Act by the board of directors of BakeMark Canada.

I have the authority to bind BakeMark Ingredients Canada Ltd.

Full Name: William J. McFetridge
Title: Director
Date: May 20, 2025

Signature: