Dexterra Group (DXT) AGM 2024 summary

Opening remarks and agenda

• Meeting held virtually with voting and Q&A facilitated online.

• Chair and Secretary roles confirmed; scrutineers appointed to oversee voting.

• Quorum established and meeting declared properly constituted.

Financial performance review

• Proforma revenue reached $927.8M in 2023, with a projected ~$1B for 2024, excluding Modular Solutions.

• Proforma Adjusted EBITDA was $106.8M in 2023, with a ~$100M target for 2024.

• Free cash flow conversion consistently exceeds 50% of Adjusted EBITDA annually, with sustaining capital expenditures at 1.5% of revenue.

• Credit facility of $260M plus $150M accordion provides financial flexibility.

• Capital allocation prioritizes sustaining dividends, capex, share buybacks, and accretive acquisitions.

Board and executive committee updates

• Nine directors nominated and elected for the coming year.

• CEO Mark Becker completed his first year, with management team strengthened.

• Executive team and reporting relationships being reshaped post-modular sale.

• Management uses non-GAAP measures for performance evaluation and compensation.

• Chief Financial Officer contact provided for investor relations.