CAE (CAE) AGM 2024 summary

Opening remarks and agenda

• The meeting was held virtually, enabling global participation and reducing the carbon footprint, with proceedings available in both French and English.

• The agenda included tabling financial statements, four motions for shareholder voting, and a President's report, followed by a Q&A session.

Financial performance review

• Fiscal 2024 saw significant progress, with strong growth in the civil business, record margins, and robust order intake.

• The sale of the Healthcare division streamlined the portfolio to focus on core markets.

• Civil aviation achieved a record adjusted backlog of CAD 6.4 billion, rising to CAD 6.6 billion in Q1 2025.

• Defense segment order intake reached CAD 1.9 billion, with backlog nearly doubling to CAD 10.4 billion after a major contract win.

• The company maintains a solid financial position with strong recurring cash flow.

Board and executive committee updates

• Five new directors joined since 2022, with a sixth nominee up for election; two new board members, Patrick Decostre and Ian Edwards, were introduced.

• Outgoing directors Michael Roach and Andrew Stevens were recognized for their service.

• CFO Sonia Branco is stepping down, with Constantino Malatesta appointed as interim CFO.