George Weston (WN) AGM 2026 summary

Opening remarks and agenda

• Outlined meeting procedures for the combined AGMs of George Weston and Loblaw, including voting and Q&A logistics.

• Updates from key executives on business and financial performance were scheduled, followed by formal business and a joint Q&A session.

Financial performance review

• George Weston reported consolidated revenue of approximately CAD 64.5 billion and adjusted EBITDA growth of 7.5% in 2025.

• Net asset value increased by 25.8% year-over-year; free cash flow and share repurchases were strong.

• Loblaw achieved revenue of CAD 64.8 billion, up 6.2%, with food and drug retail same-store sales growing 2.3% and 3.9% respectively.

• Loblaw's adjusted EBITDA exceeded CAD 7.5 billion, with a 13.6% increase in adjusted EPS and a 32.5% total shareholder return.

• Choice Properties maintained 98.2% occupancy and grew funds from operations by 3.6%.

Board and executive committee updates

• All director nominees for both companies were current directors and received at least 97% of votes cast in favor.

• Shareholder feedback included comments on board compensation and director engagement as customers.