Exco Technologies Limited (3XT.F) Earnings Call Transcript & Summary

Welcome to the Annual General Meeting of Shareholders of Exco Technologies Limited. Please note the meeting is being recorded. I would like to introduce Mr. Brian Robbins, Executive Chairman of the Board. Mr. Robbins, please go ahead.

Ladies and gentlemen, good afternoon. My name is Brian Robbins, and as Executive Chairman of the Board, I welcome you to this Annual Meeting of the Shareholders of Exco Technologies Limited. I'm pleased to host the meeting through this virtual meeting platform, which is accessible to all our shareholders regardless of physical location so that you can participate, submit questions and vote. I should also mention that we will be releasing our first quarter financial results next week on Wednesday, January 28, 2026. We will be hosting our usual analyst call the next day on Thursday, January 29, at 10:00 a.m. And so questions on our first quarter results can be asked then. Today, we will take questions if there are any, at the end of the meeting. But as I said, we will be taking questions on our first quarter results on next Thursday's analyst call. During the course of today's meeting and subsequent question-and-answer session, forward-looking statements may be made. I won't read the entire cautionary statement, but it is set out at Page 5 and 6 in our annual report, which is available on our website. I will now proceed with the agenda for today's meeting. Appointment in accordance with the company's bylaws, I will serve as Chairman of the meeting; and Matthew Posno, Chief Financial Officer of the corporation, will act as Secretary of the meeting. I will ask our transfer agent, TSX Trust Company, represented by Ms. Rosa Garofalo, to act as scrutineer. Notice of the meeting was mailed to shareholders on December 22, 2025, and we received an affidavit of the corporation's transfer agent as to its mailing. I will take the notice of meeting as read. I've received a preliminary scrutineer's report, which indicates a quorum is present and that I have an overwhelming majority of proxy support. Since we have a quorum, I declare that the meeting has been duly called and is properly constituted to transact any business appearing on the agenda. The Secretary has tabled the minutes of the Annual Meeting of Shareholders held on January 22, 2025. I will take these minutes as read and approved. We will conduct the votes on the matters before us by a poll on a poll. Every shareholder entitled to vote on the matter has 1 vote in respect of each share entitled to be voted on the matter and held by that shareholder. The poll will be open for all resolutions at the same time. This will allow you to choose to vote on each resolution immediately and wait until conclusion of discussion on each resolution prior to casting your vote. Once all items of business have been concluded, I will give you 15 seconds to enter your votes and then declare voting closed on all resolutions. Results of the meeting will be available on SEDAR+ and on our website sometime tomorrow. Please note, only registered shareholders who held shares in their name as of the record date or their validly appointed proxy holders are entitled to vote at today's meeting. If you have already voted by proxy, you don't need to vote again unless you are changing your vote. I will now ask that the polls be open. [Voting]

We will now proceed with the election of directors. At today's meeting, 6 directors are to be elected. All 6 of the nominees are being renominated, and information regarding each of them is set out in the information circular, which again was made available on SEDAR+ our website and our transfer agent website. As Chair, I propose the nomination of Edward H. Kernaghan, Darren M. Kirk, Robert B. Magee, Colleen M. McMorrow, Brian A. Robbins and Tommy J. Skudutis, all of whom are Canadian citizens, as directors of the corporation to hold office until the next Annual Meeting of Shareholders or until their successors are duly elected or appointed. For convenience, I arrange for seconders of the motion. This motion has been seconded by Mr. Posno, our CFO, who is next. As no further nominations were received by the corporation within the time limit set in the corporation's advanced notice bylaw, I declare the nominations to be closed to have 6 persons nominated for the 6 positions of director. Please cast your votes on this item now. [Voting]

It is now in order to proceed with the appointment of the auditor and the authorization of the directors to fix their remuneration. Ernst & Young LLP, the current auditor of the corporation is proposed as auditor until the next Annual General Meeting of the shareholders of the corporation. As a Chair, I move that Ernst & Young LLP be appointed auditor of the corporation to hold office until the next Annual Meeting of Shareholders and that the directors of the corporation be authorized to fix its remuneration. This motion has been seconded by Mr. Posno. Again, please note, only registered shareholders who held shares in the name of the record name as of the record date or their validly appointed proxy holders are entitled to vote at this meeting. If you have already voted by proxy, you do not need to vote again unless you are changing your vote. I will now give you 15 seconds to vote before we close the voting. [Voting]

I now ask that the polls be closed. Based on the preliminary scrutineers' report, I can confirm that both the motions electing directors and appointing the auditor are carried. Now the formal part of the meeting has been concluded, Darren Kirk, our President and CEO, will be pleased to answer any questions that you may have with respect to the company, its financial statements and operations during the year. Please submit your questions through the web portal.

It's Darren Kirk here. I'll just give you a few moments here to see if we have any questions as of current, there are none. So I'm still showing no questions. So I guess that concludes the meeting, and we look forward to speaking with you all next Thursday after we release our results, which will be on Wednesday. So thank you.

Thank you, everybody, for attending today's meeting. You may now disconnect.