The North West Company (NWC) AGM 2026 summary

Opening remarks and agenda

• Meeting opened virtually, enabling equal participation and voting for all shareholders regardless of location.

• Chair and CEO delivered opening remarks, setting the tone for the meeting and outlining the agenda, including financial review, board elections, and strategic updates.

• Acknowledgement of Indigenous lands and commitment to reconciliation highlighted.

• Agenda included financial statement presentation, director elections, auditor appointment, plan amendment, executive compensation, and Q&A.

Financial performance review

• Sales increased 0.8% to CAD 2.6 billion for 2025, but Q1 2026 sales decreased by 1.5%, with international gains offset by foreign exchange and lower Canadian sales.

• Net earnings rose 1.9% to CAD 146 million for 2025 and increased 5.4% in Q1 2026 compared to the prior year.

• EBITDA reached CAD 333 million, with earnings from operations at CAD 212 million.

• Capital investments totaled CAD 138 million; dividends paid increased to CAD 77 million.

• Q1 international operations saw a 4.3% same-store sales gain, offsetting a store closure in Guam.

Board and executive committee updates

• Two new directors appointed: Gregg Saretsky (aviation executive) in August 2025 and Paul Soubry (transportation executive) in April 2026.

• Board of Directors election included Stewart Glendinning, Rachel Huckle, Annalisa King, Violet Konkle, Steven Kroft, Jennefer Nepinak, Gregg Saretsky, Paul Soubry, Victor Tootoo, Dan McConnell, and Brock Bulbuck.

• Board composition and committee chairs introduced; all directors recommended for re-election.