In response to inquiries from the industry and the public, the following update is provided regarding the Pat Hare and David Lem hearing matter.

The joint hearing involving Mr. Hare and Mr. Lem was originally scheduled for August 2025 and later rescheduled to October 2025 following an adjournment agreed to by all parties. The October hearing dates were subsequently adjourned after Mr. Hare and Mr. Lem filed additional procedural applications.

On January 21, 2026, the Hearing Panel denied the requests of Mr. Hare and Mr. Lem to have separate hearings and to delay the RECA proceedings pending the outcome of related civil litigation in the Court of King’s Bench. Both parties have since filed appeals and applied for a stay of the Hearing Panel’s January procedural decision. The stay applications and the appeals are scheduled to be heard in March and May 2026, respectively.

The main hearing has not yet been scheduled, and the matter remains in the pre‑hearing phase pending the outcome of these procedural and appeal‑related matters.