Fiscal 2024 Summary from Your Management Team

Good evening, everyone, and thank you for joining us at our 69th Annual General Meeting. We are proud to present this report for Fiscal Year 2024. Despite a year marked by significant challenges—including cyber attacks and external disruptions—our team remained steadfast in ensuring our community stayed top of mind and in our hearts. We extend our heartfelt thanks to our community and to the dedicated team at FCL for their unwavering commitment.

Resilience Through Adversity

Much like 2023, this past year brought continued staffing shortages and supply chain disruptions. Yet, our team rose to the occasion, ensuring uninterrupted access to essential goods. When a cyber attack struck mid-year, our staff acted swiftly and resourcefully to secure alternative supply sources. Their adaptability and dedication were nothing short of inspiring.

Welcoming Change

2024 was a year of both new beginnings and fond farewells. We welcomed many new faces to our Co-op family, continuing to build a diverse and inclusive team. At the same time, we bid farewell to valued colleagues who moved on to new opportunities.

Operational Highlights & Challenges

Despite the hurdles, we achieved several key milestones:

· Sales reached $27.8 million, an increase over 2023 of $900,000.

· We launched a new food sustainability initiative, led by passionate staff members—our Co-op is growing in more ways than one!

· Operating expenses rose by $390,507, an increase over last year mainly attributed to wages and inflationary pressures.

· Net savings of $519,429 at year end - a decrease compared to last year largely as a result in increasing cost of goods and a reduction of patronage amount from FCL.

Cyber disruptions and inflation impacted all departments—from food and fuel to hardware and pharmacy.

Growth & Development

Our beautiful store continues to receive praise, and we often hear comments about the variety of goods available in our little store. Our SHOP.CRS program continues to gain momentum, offering a convenient shopping alternative during peak seasons. Staff handpicked items with care, as if shopping for their own families.

We also continued to benefit from FCL loyalty payments on fuel sales, returning value to our members. Although fuel sales dipped throughout the year, we saw a strong rebound in fall 2024 and finished strong.

Growcer Farm: A Fresh Step Toward Food Sustainability

One of the most exciting developments in 2024 was the installation of our Growcer modular farm, a state-of-the-art hydroponic growing system located right in our parking lot. This innovative initiative was approved by our board as part of our commitment to food security, sustainability, and community resilience.

The Growcer unit is a fully insulated, climate-controlled container that allows us to grow fresh produce year-round, regardless of weather conditions. It uses hydroponic technology, meaning plants grow in nutrient-rich water rather than soil, significantly reducing water usage and eliminating the need for pesticides.

Here’s what we’ve accomplished so far:

· We’ve successfully seeded and transplanted multiple rounds of leafy greens, including lettuce, kale, and herbs. Watch for news about first harvest – coming soon!

· Our third planting cycle is currently underway with our first round of seedlings already transplanted into larger grow beds.

· The produce will be used to support local food programs and will soon be available for sale in-store, offering members access to ultra-fresh, locally grown greens.

This project is a shining example of how innovation and community values can come together to create lasting impact. Stay tuned after this meeting for a special presentation from our Growcer team, where you’ll get a behind-the-scenes look at how it all works—and what’s coming next!

Community Engagement

Our community booth remained a vibrant hub for local fundraising, supporting groups such as the Girl Guides, Ucluelet and Area Historical Society, Cancer Society, Pacific Rim Arts Society, Ukee Storm, and many more.

In 2024, we contributed over $21,500 in goods and services to local non-profits and over $18,000 in member relations support. We also partnered with the Food Bank on the Edge, donating over 5,504 pounds of food and provide support for the Christmas Hamper program and Stuff the Cruiser.

We proudly supported events like Cops for Cancer Tour de Rock and Fuel Good Day, raising funds for our Ucluelet Volunteer Fire Department.

Our Kid’s Club continues to thrive, and we remain committed to education through scholarships and meal programs. Our partnership with the Ucluelet Childcare Society ensures quality care for local families.

We also communicate regularly through newsletters and videos, keeping members informed and prepared—especially during emergencies.

We’re especially proud to sponsor the upcoming CBT Community Kitchen, a collaborative project with Federated Co-op and the Clayoquot Biosphere Trust to create

a space for learning, sharing, and community building.

Staff, Training & Recognition

Training remains a cornerstone of our success, with staff and board members participating in both online and in-person leadership development.

We celebrated several staff milestones this year:

· Jen Hoar – 15 years

· Suzie Corlazzoli – 15 years

· Tavis – 10 years

· Rui, Craig, Chris, and Mathew Jack – 5 years each

Congratulations to all—your dedication is deeply appreciated!

We continue to support staff with affordable housing, owning and subsidizing rental properties to help navigate the region’s challenging housing market.

Our employee recognition program, now in its third year, celebrates exceptional service with monthly awards and a $1,000 AGM prize. Our team consistently delivers excellence, making the Co-op a welcoming and trusted place for all.

Thank you to our members for your continued support, to our Board for their guidance, and to our incredible team for their hard work and dedication.

We look forward to serving you in 2025.

Respectfully submitted,

Your Management Team