High Liner Foods (HLF) AGM 2025 summary

Opening remarks and agenda

• Meeting broadcast online and via toll-free call, with recording available for later viewing.

• Reminder of forward-looking statements and financial reporting in U.S. dollars, with shares and dividends in Canadian dollars.

• Meeting called to order with 71% shareholder quorum present; agenda included director elections, auditor appointment, amendments to articles, and executive compensation.

Financial performance review

• Adjusted EBITDA reached $103 million in 2024, up 8.6% from 2023.

• Free cash flow from operations totaled $90.6 million for 2024.

• Volume grew 1.3% in Q4 2024 over Q4 2023; adjusted EBITDA up 8.7% in Q4.

• Share buybacks included 980,000 shares via NCIB and 2.4 million shares through litigation settlement.

Board and executive committee updates

• Twelve directors elected to serve until the 2026 AGM.

• Board and management collaboration highlighted as key to navigating challenges and driving growth.