VIQ Solutions (VQS) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of board members, lender, and long-term shareholders, noting a challenging year of restructuring and delayed recovery due to persistent headwinds post-pandemic.

• Agenda included presentation of audited financials for 2023, election of six directors, appointment of auditors, approval of share issuance to Beedie Investments, and approval of the Omnibus Equity Incentive Plan.

Financial performance review

• Favorable results began in Q4 2023 and accelerated into Q1 and Q2 2024, with focus on positive EBITDA and free cash flow in the second half of 2024.

• Emphasis on improved gross margins from Australia migration, global cost-cutting, and targeted R&D.

• 2023 results were disseminated via SEDAR+ and EDGAR, with management providing insights on trends and KPIs for 2024.

Board and executive committee updates

• Six directors nominated and elected: Larry Taylor, Sebastien Paré, Joseph Quarin, Shing Pan, Susan Sumner, and Bradley Wells.