Canadian Utilities (CU) AGM 2026 summary

Opening remarks and agenda

• Welcomed shareholders to the 99th annual meeting, acknowledged longstanding shareholders and special guests, and emphasized gratitude for trust and support.

• Recognized the traditional lands and Indigenous communities where operations are located, highlighting respect and partnership.

• Outlined safety procedures and introduced key participants and guests.

Financial performance review

• Reported CAD 658 million in adjusted earnings for 2025, up from CAD 647 million in 2024, despite significant headwinds.

• Achieved Q1 2026 adjusted earnings of CAD 242 million, up from CAD 232 million in Q1 2025, driven by growth in core businesses.

• Share price rose from just over CAD 34 at the start of 2025 to just under CAD 48, closing the gap with peers.

• Maintained strong investment grade credit ratings and a funding strategy that avoids common equity dilution.

Board and executive committee updates

• Bob Myles recognized for his first year as CEO, with Katie Patrick as CFO and Kyle Brunner as General Counsel and Corporate Secretary.

• Roger Urwin retired from the board; new directors elected for the coming year.