CONSENT RESOLUTIONS OF THE SHAREHOLDER OF RICHMOND OLYMPIC OVAL CORPORATION

The budget data presented in these financial statements is based upon the 2022 budget approved by the Board of Directors on December 3, 2021. (i) Use of estimates: The preparation of financial statements requires management to make estimates and assumptions that could affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Areas requiring the use of management estimates relate to the determination of valuation of accounts receivable and useful lives of tangible capital assets for amortization. Actual results could differ from those estimates. The estimates are reviewed periodically and as adjustments become necessary, they are recorded in surplus (deficit) in the year in which they become known. (j) Government transfers: Restricted transfers from governments are deferred and recognized as revenue as the related expenditures are incurred or the stipulations in the related agreement are met. Unrestricted transfers are recognized as revenue when received or if the amount to be received can be reasonably estimated and collection is reasonably assured. 3. Investments: Investments represent term deposits as follows: Purchase date Maturity date 2022 2021 July 14, 2022 July 14, 2023 $ 3,987,088* $ - July 19, 2022 July 19, 2023 3,619,492* - December 21, 2022 April 21, 2023 6,000,000 - December 29, 2022 May 1, 2023 600,000 - March 25, 2021 March 25, 2022 - 2,500,000* May 25, 2021 May 25, 2022 - 2,570,383* June 30, 2021 June 30, 2022 - 2,578,346* July 14, 2021 July 14, 2022 - 3,928,165* $14,206,580 $ 11,576,894 The interest rate of the term deposits ranges from 5.05% to 5.22% (2021 - 1.00% to 1.50%). * Investments held by the City of Richmond on behalf of the Corporation, with income earned fully attributable to the Corporation. CNCL – 17 (Special)

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