ATCO (ACO-X) AGM 2025 summary

Opening remarks and agenda

• Celebrated the 58th AGM with in-person attendance, honoring traditional territories and welcoming dignitaries, shareholders, and family members.

• Outlined safety procedures and acknowledged the significance of community engagement post-pandemic.

Board and executive committee updates

• Introduced executive team, including new CEO of Canadian Utilities, and recognized retiring director Bob Booth for nearly three decades of service.

• Election of nine directors confirmed, with motions moved and seconded by shareholders and executives.

Financial performance review

• Reported adjusted earnings of CAD 481 million for 2024, up from CAD 432 million in 2023, with growth from both Canadian Utilities and other businesses.

• Q1 2025 adjusted earnings reached CAD 160 million, driven by strong performance in Structures and natural gas storage.

• Total shareholder return for 2024 was 29%, outperforming the S&P Composite Index and Berkshire Hathaway.