December 17, 2018

Dear Shareholder,

On behalf of Sage Properties Corp. (“SAGE”) and the Board of Directors (“Board”) of Sage, we are pleased to provide you with an update on our recent activities over the past few months.

FINANCIAL RESULTS FOR PERIOD ENDED SEPTEMBER 30, 2018
Please be advised that these statements have not been audited or reviewed by SAGE’s auditors and are subject to change. The March 31, 2019 year-end financial statement audit will be performed by MNP LLP and will be presented to SAGE’s shareholders at the 2019 Annual General Meeting.

STRATEGIC PLAN 
Management and the Board of SAGE have outlined the overall mission, vision, values, goals, and priorities for SAGE in a strategic plan.  The strategic plan helps management and the board to focus on key priorities and action steps need to achieve SAGE’s mandate.  A summary of the strategic plan at October 2018 has been enclosed for your information.

STRATEGIC PLAN UPDATES:
A. PRINCE OF PEACE LUTHERAN SCHOOL – SCHOOL PROPERTY DISPOSAL – NOTICE OF PUBLIC CONSULTATION
On Wednesday November 14, 2018, Rocky View Schools (“RVS”) held its first public meeting to discuss the future of the Prince of Peace Lutheran School.  This meeting is the first step in the RVS two month consultation process.  Sage’s Board Chair and Management attended this meeting and we encourage all stakeholders to participate in the RVS consultation process.  The times and dates for the consultations can be found by visiting http://www.rockyview.ab.ca/consultation.

Discussions continue with RVS for the purchase and/or ongoing lease of the School.  SAGE is committed to working towards a solution with RVS and is willing to explore every opportunity to keep the School open for the mutual benefit of all stakeholders. 

B. SUBDIVISION
SAGE submitted a formal application for subdivision to Rocky View County (“RVC”) on March 29, 2018.SAGE received comments back from RVC and is working through the conditions specifically related to the waterline construction and the Master Site Development Plan. SAGE is expecting to submit the final subdivision application to Council for approval within the next coming months.   Once the final subdivision approval is received by RVC, SAGE will then be required to meet subdivision conditions and submit a development agreement to RVC.

C. UTILITIES OWNERSHIP AND VILLAGE NEGOTIATIONS SAGE submitted a formal application to the Court of Queen’s Bench of Alberta this past spring, requesting that two easements related to the water utility be removed and replaced with a new easement written to better reflect the reality of SAGE’s utilities ownership and obligations as a service provider. Prior to the April 17, 2018 court hearing, the Village condominium board chair filed documents opposing the application to remove the easements.  On April 17, 2018, the court hearing was adjourned by Justice Romaine to allow for further discussions to take place between SAGE and the Village with the hope that a resolution on issues raised could be reached.   SAGE and the Village condo board have met regularly over this past summer and fall and are still working towards a resolution on outstanding issues.

D. ALBERTA UTILITIES COMMISSION (AUC) – RULE 11 WATER APPLICATION

In November 2018, SAGE completed and submitted its draft water application to the AUC for preliminary review and feedback under the AUC’s Rule 11 Process (for more details see http://www.auc.ab.ca/Shared%20Documents/rules/Rule011.pdf). The purpose of the application under Rule 11 is to assist SAGE with setting its future water rates in a cost effective manner.

DIRECTOR COMPENSATION
SAGE is committed to establishing and maintaining competitive compensation for its Board and employees. The Board has completed work on a final draft of a new Director Compensation policy and expects to approve the final policy in  January 2019.

The board and employees would like to wish you very Merry Christmas!  If you have any questions, please contact Sage at 403-478-9661 or by email at info@sageproperties.ca

Yours truly,

Sandra Jory, CPA, CA
Board Chair
Sage Properties Corp.

October 26, 2018

October 26, 2018

Dear Shareholder,

Prince of Peace School – School Closure – Notice of Public Consultation

On Thursday October 18, 2018, the Rocky View School District (“RVSD”) issued a letter to the parents of Prince of Peace Lutheran School advising that a public consultation process would be commencing in November 2018 to explore the future of the Prince of Peace Lutheran School program in accordance with Alberta Education’s School Closure Regulations.  Note that a copy of the letter can be found at http://www.rockyview.ab.ca/consultation/parent-letter-prince-of-peace-consultation-notice/view).

Discussions are ongoing with RVSD for the purchase and/or ongoing lease of the school.  Sage would like to advise our stakeholders that the Sage Board of Directors is committed to working towards a solution with RVSD and is willing to explore every opportunity to keep Prince of Peace School open for the mutual benefit of all stakeholders.  We encourage all stakeholders to participate in the consultation process.  The times and dates for the consultation can be found at http://www.rockyview.ab.ca/consultation.

If you have any questions pertaining to any of the above information relayed in this letter, please contact the Sage office either by email at info@sageproperties.ca or phoning (403) 478-9661.

Sincerely yours,

Sandra Jory, CPA, CA

Board Chair

Sage Properties Corp.

sandra.jory@sageproperties.ca

CC:       Larry Paul, Assistant Superintendent, Rocky View Schools

Todd Brand, Board Chair, Rocky View Schools

September 11, 2018

Dear Shareholder:

I am pleased to advise you that the following individuals were elected to the Board of Directors of Sage Properties Corp. (“Sage”) at the Annual General Meeting on September 7, 2018 (“AGM”):

Sandra Jory                 Irfhan Rawji

Ralph Huizinga           Murray Warnke

Scott McCorquodale   Reginald Zotzman

The special resolutions to amend the articles to increase the maximum number of directors from six to eight and to amend the by-laws of Sage to lower the quorum requirement to 25% were also approved.

Prior to the AGM and at the AGM, a former director, Mr. Nielsen, and some shareholders expressed concerns regarding the Board’s working relationship with our Chief Executive Officer (“CEO”), Scott McCorquodale and with board compensation.  Please be assured that the SAGE Board of Directors, including its Chair, is united both in support of the CEO and with regard to key business issues facing the corporation and the strategic direction of Sage.  Moreover, we take shareholder concerns seriously and are committed to working with management, led by our CEO, to achieve the best possible results for Sage and all of its stakeholders.

If you have any questions or concerns please do not hesitate to contact me.

Yours truly,

Sandra Jory, CPA, CA

Board Chair

Sage Properties Corp.

sandra.jory@sageproperties.ca

(780) 686-2441

August 24, 2018

Dear Shareholder,

As the date of Sage’s AGM quickly approaches, SAGE would like to encourage ALL shareholders to submit their proxy form in advance of the meeting (no later than Wednesday, September 5, 2018, at 1:00PM MDT) even if you’re planning on attending the meeting in person.  In the event that you are unable to attend the meeting, this will ensure that your vote and participation still count.

There have been some questions on how to fill out the form of proxy and the different options for submission. Options for submission are as follows:

By Internet:

You can submit your form of proxy directly online at www.alliancetrust.ca/shareholders by using your 12 digit control number located at the bottom of your proxy

By Mail:

Alliance Trust Company
1010, 407 2nd Street SW
Calgary, AB
T2P 2Y3

By Fax:

403-237-6181

For Churches/Organizations/Corporations:

If any of these groups want to have someone attend and vote in person, you must sign the proxy as the holder of the shares, follow the same process of striking out the two management names, and insert the name of the person who will attend as the proxy appointee.  Furthermore,  the organization can either allow the proxy appointee the discretion to vote as he/she sees fit or complete the proxy ahead of time.

As a reminder, shareholders that are considered one of these mentioned groups must submit their proxies in advance of the meeting, no later than Wednesday, September 5th at 1:00 PM MDT. The person filling out the form of proxy must have signing authority (ie. president, treasurer, etc.) and we have attached an example of how this form should be filled out which you can view by clicking here.

If you have any further questions or need assistance filling out the form, please email info@sageproperties.ca or phone SAGE directly at 403-478-9661.

Sincerely yours,

Sandra Jory, CPA, CA
Board Chair
Sage Properties Corp.

August 21, 2018

Dear Shareholder,

This email is to confirm that the notice of the annual meeting and information circular package was successfully mailed on Friday, August 17, 2018, by Alliance Trust Company.  You should expect to receive these in the mail this week. If you have not received your package by Friday, August 24, 2018, please email info@sageproperties.ca as soon as possible.

As a reminder, the annual meeting will be held at 1:00PM MDT on Friday, September 7, 2018  in the Lancaster Ballroom located inside the Executive Royal Hotel Edmonton Airport in Leduc, AB.  The purpose of the meeting is for shareholders to:

  1. receive and consider Sage’s financial statements for the fiscal period ended March 31, 2018, together with the report of the auditors;
  2. elect six directors;
  3. appoint the auditors and authorize the directors to fix the auditors remuneration;
  4. consider, and if thought advisable, with or without variation, to approve a special resolution to amend the articles of the Sage to:
    1. (a)  increase the maximum number of directors from six (6) to eight (8);
    2. (b)  add a minimum number of directors of six (6);
    3. (c)  permit the directors of Sage, between annual general meetings, to appoint one or more additional directors of Sage to serve until the next annual general meeting, with such number of additional directors not to exceed 1/3 of the number of directors who held office at the expiration of the last annual meeting of Sage, the full text of which is set forth in Appendix A to the accompanying Information Circular;
  5. consider and, if thought advisable, with or without variation, to approve a special resolution to lower the quorum requirement for Shareholder meetings in the By-Laws of the Sage from 50% of the Shares entitled to be voted at such meeting to 25% of the Shares entitled to be voted at such meeting being present in person or by proxy, the full text of which is set forth in Appendix B to the accompanying Information Circular; and
  6. transact such other business as may properly be brought before the Meeting or any adjournment thereof.

The specific details of the matters proposed to be put before the meeting are set forth in the management information circular packages that you will be receiving. 

The proxy submission deadline is Wednesday, September 5th at 1:00 PM MDT.  Your proxy must be received by Alliance Trust Company at 1010, 407 – 2nd Street SW, Calgary, Alberta T2P 2Y3 or, alternatively, by facsimile to 403-237-6181 prior to the Proxy Deadline. Alternatively, you may vote by internet using the 12 digit control number located at the bottom of your proxy at www.alliancetrust.ca/shareholders or by facsimile to 403-237-6181.

Thank you and we look forward to seeing you at the upcoming meeting.  If you have any questions, please contact SAGE at 403-478-9661 or by email at info@sageproperties.ca.

Sincerely yours,

Sandra Jory, CPA, CA
Board Chair
Sage Properties Corp.