K-Bro Linen (KBL) AGM 2026 summary

Opening remarks and agenda

• Meeting held virtually to maximize accessibility and participation for shareholders.

• Voting and Q&A procedures explained, with electronic ballots and live question submission.

• Quorum confirmed, allowing the meeting to proceed with formal business.

• Agenda included financial statement review, board elections, auditor appointment, and strategic updates.

Financial performance review

• 2025 revenue reached approximately CAD 537 million, more than double 2014 levels.

• Adjusted EBITDA for 2025 was CAD 99 million, up 37% year-over-year.

• Q1 2026 revenue increased 53% to CAD 139 million, driven by recent acquisitions.

• Debt increased due to the Stellar Mayan acquisition, with a funded debt to EBITDA ratio of 2.5–3.0x.

• Dividends and distributable cash flow remained stable, with continued free cash flow generation expected.

Board and executive committee updates

• Five directors elected for the ensuing year: Matthew Hills, Steven Matyas, Rona Ambrose, Linda McCurdy, and Elise Rees.

• Senior management team highlighted for extensive industry experience and leadership.

• Michael Percy recognized for his leadership as chair.