High Liner Foods (HLF) AGM 2025 summary

Opening remarks and agenda

• The meeting was broadcast live online and via toll-free call, with recorded proceedings available on the corporate website.

• Attendees were reminded of forward-looking statements and the use of both IFRS and non-IFRS financial measures.

• The chair highlighted the company's 125th anniversary and its history of resilience and adaptation.

Financial performance review

• Adjusted EBITDA reached $103 million in 2024, an 8.6% increase over 2023.

• Free cash flow from operating activities totaled $90.6 million for 2024.

• Volume grew 1.3% in Q4 2024 over Q4 2023, with an 8.7% increase in adjusted EBITDA for the quarter.

• Share buybacks included 980,000 shares repurchased and 2.4 million shares reacquired and canceled via litigation settlement.

Board and executive committee updates

• Twelve directors were nominated and elected to serve until the 2026 AGM.

• The board worked closely with management to guide the company through industry and macroeconomic challenges.