Daily Journal (DJCO) Proxy Filing summary

Executive summary

• Record revenue achieved in fiscal 2025, with Journal Technologies driving 80% of operating revenue and Traditional Publishing contributing 20%.

• Journal Technologies revenue grew 32% to $70 million, with significant gains in consulting, e-filing, and recurring license fees.

• Traditional Publishing revenue increased 6% to $17.9 million, mainly from higher advertising, despite a modest pre-tax loss due to increased corporate costs.

• Marketable securities portfolio reached $493 million, supporting a strong balance sheet and enabling continued investment in core businesses.

• Strategic focus remains on growing recurring revenues, modernizing platforms, and disciplined capital allocation.

Voting matters and shareholder proposals

• Shareholders are urged to vote for the full slate of current directors using the white proxy card at the February 24, 2026 Annual Meeting.

• A campaign by Buxton Helmsley USA, Inc. to take control of the board is described as self-interested and lacking a forward-looking strategy.

• Management emphasizes the importance of supporting the existing board to maintain long-term value creation.

Board of directors and corporate governance

• The board, largely selected by former Chairman Charles T. Munger, is credited with prudent capital allocation and strategic oversight.

• Board and management are focused on executing a long-term strategy and maintaining integrity in governance.