Magellan Aerospace (MAL) AGM 2026 summary

Opening remarks and agenda

• The meeting was called to order by the Chairman, with formal business items outlined as per the notice and proxy declaration dated March 17, 2026.

• Shareholders were informed about the recording of the meeting and the Q&A process.

• Forward-looking statements and associated risks were highlighted at the outset.

Financial performance review

• Consolidated revenues for 2025 reached CAD 1.045 billion, a 10.9% increase from the previous year.

• Gross profit rose to CAD 145 million, up from CAD 108 million, driven by higher volumes and favorable product mix.

• Adjusted EBITDA increased by 19% to CAD 117 million, with working capital requirements rising in line with business growth.

• Investment in capital totaled CAD 51 million, about 4.9% of revenues, focusing on technology and productivity improvements.

• Shareholder returns have improved, now aligning with TSX and S&P annual returns.

Board and executive committee updates

• Six directors were nominated and elected to serve until the next annual election or until successors are appointed.

• BDO Canada Chartered Professional Accountants was appointed as auditor, with remuneration to be fixed by the Board.