Goodfellow Inc. · TSX:GDL
Goodfellow — Shareholder Meeting (May 2026)
38 slides from Goodfellow's shareholder meeting presentation, May 12, 2026
Slide 1: 2026 Annual and Special Meeting of Shareholders
2026 ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS
Slide 2: Disclaimer
May 12, 2026 DISCLAIMER Forward-Looking Financial Information This presentation contains implicit and/or explicit forward-looking statements relating, inter alia, to objectives, strategies, priorities, goals, plans, financial position, operating results, trends and activities of Goodfellow Inc. and
Slide 3: Robert Hall, Chair of the Board
ROBERT HALL CHAIR OF THE BOARD
Slide 4: Welcome
WELCOME
Slide 5: Directors and Officers
May 12, 2026 DIRECTORS AND OFFICERS • Robert Hall – Chair of the Board • Patrick Goodfellow – President and CEO • Charles Brisebois – CFO • Olivia Goodfellow – Corporate Secretary • Alain Côté – Director and Chair of the Audit Committee • Sarah Prichard – Director and Chair of the Compensation and H
Slide 6: Opening of the Meeting
OPENING OF THE MEETING
Slide 7: Nomination of Scrutineers
NOMINATION OF SCRUTINEERS
Slide 8: Confirmation of the Mailing of the Notice of Meeting
CONFIRMATION OF THE MAILING OF THE NOTICE OF MEETING, MANAGEMENT PROXY CIRCULAR AND PROXY FORM
Slide 9: Report of the Scrutineers
REPORT OF THE SCRUTINEERS
Slide 10: Agenda
ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS May 12, 2026 AGENDA ▪ Meeting ▪ Approval of Minutes of Previous Meeting ▪ Reception of Financial Statements and Independent Auditor’s Report ▪ Election of Directors ▪ Appointment of Auditors ▪ Ratification of LTIP, Unallocated Rights and Entitlements and Gr
Slide 11: Approval of the Minutes - AGM 2025
APPROVAL OF THE MINUTES - AGM 2025
Slide 12: Filing of the 2025 Financial Statements and Auditor's Report
FILING OF THE 2025 FINANCIAL STATEMENTS AND AUDITOR’S REPORT
Slide 13: Election of Directors
ELECTION OF DIRECTORS 1. Suzanne Blanchet 5. Robert Hall 2. Alain Côté 6. Marie-Hélène Nolet 3. David Goodfellow 7. Sarah Prichard 4. G. Douglas Goodfellow
Slide 14: Appointment of the Independent Auditor
APPOINTMENT OF THE INDEPENDENT AUDITOR
Slide 15: Ratification of the LTIP
RATIFICATION OF THE LTIP
Slide 16: Ratification of the Special RSUs
RATIFICATION OF THE SPECIAL RSUs
Slide 17: Vote and Voting Results
VOTE AND VOTING RESULTS
Slide 18: Management Presentation
MANAGEMENT PRESENTATION
Slide 19: 2025 Review
May 12, 2026 2025 REVIEW Patrick Goodfellow Charles Brisebois President and CEO CFO
Slide 20: Goodfellow at a Glance
2025 GOODFELLOW AT A GLANCE ~ 800 22 > 5,200 Employees Locations Customers SALES BY LOCATION SALES BY PRODUCT US and Exports CATEGORY 17% Building Materials 12% Quebec 32% Western Canada Panels 9% 18% Lumber 58% Atlantic Flooring 18% Ontario 12% 24%
Slide 21: 2025 Year-End Results
2025 YEAR-END RESULTS
Slide 22: Sales
2025 SALES $ Sales By Region: By Category: (in millions) ▪Canada - flat: ▪Panels flat % $543 ▪Quebec -2 % ▪Lumber +9 % $509 ▪Ontario -6 % ▪BMATS +9 % ▪Atlantic +9 % ▪Western Canada +16 % ▪Flooring +4 % ▪US +9 % ▪Export +147 % 450 452 (1) ▪ Average Transaction Value 8 %, while volume of transactions
Slide 23: Net Earnings and EPS
2025 NET EARNINGS AND EPS (1) $ Net Earnings EPS (1) (in millions) $1.58 $13 $0.86 $7 2024 2025 2024 2025 (1) EPS = Net Earnings per Share
Slide 24: Disciplined Capital Investments
DISCLIPLINED CAPITAL INVESTMENTS • Targeted growth investments • U.S. expansion • Ontario footprint • Share repurchase • 259,000 shares repurchased under NCIB since 2022 • Measured working capital • Higher inventory to support growth initiatives • Operational efficiency • Distribution efficiency gai
Slide 25: Summary of Outcomes
2025 SUMMARY OF OUTCOMES Challenges faced: Outcomes: • Economic uncertainty • Modest sales growth and uneven demand • Achieved 1.3% net return • Disruptive trade on sales dynamics • Inflation • Preserved strong balance sheet • Increased customer credit risk
Slide 26: Q1 - 2026 Results
QI —- 2026 RESULTS
Slide 27: Sales
Q1 - 2026 SALES $ Sales (in millions) By Region: By Category: $111 ▪Canada -6 % : ▪Panels +2 % $109 ▪Quebec +6 % ▪Lumber +2 % ▪Ontario -21 % ▪BMATS -7 % ▪Atlantic -12 % ▪West +6 % ▪Flooring -23 % ▪US +24 % ▪Export +13 % (1) Average Transaction Value 4 %, while volume of transactions 1 % (vs. Q1-20
Slide 28: Net Loss and EPS
Q1 - 2026 NET LOSS AND EPS (1) $ Net Loss EPS (1) (in millions) -$2.3 -$0.27 -$3.1 -$0.38 Q1 - 2025 Q1 - 2026 Q1 - 2025 Q1 - 2026 (1) EPS = Net Earnings per Share
Slide 29: Net Loss Context
Q1 - 2026 NET LOSS CONTEXT ▪ Increased overhead costs and interest expense ▪ Higher costs of leases, compensation, upgrades and maintenance ▪ Elevated inventory levels ▪ U.S. asset acquisitions ▪ Rise in fuel and input costs ▪ Negative exchange rate effects ▪ Shy of critical sales volume
Slide 30: Driving Strategic Growth
2026 DRIVING STRATEGIC GROWTH Enhance Strengthen Increase Financial Core Operational Performance Business Efficiency ▪ Pursue market share ▪ Optimize existing ▪ Increase automation growth in Canada distribution categories ▪ Streamline distribution ▪ Grow domestic sales in U.S. ▪ Enhance custom- logi
Slide 31: 2025 Project Highlights
2025 PROJECT HIGHLIGHTS
Slide 32: CPR Bridge ($200K)
CPR Bridge($200K) Red Deer, AB FIR
Slide 33: Aréna ($750K)
Aréna ($750K) Ste-Thérèse, QC $211,769.15
Slide 34: Lower Don South Trestle ($710K)
Lower Don South Trestle ($710K) Toronto, ON FIR
Slide 35: Fields Corner Library ($715K)
Fields Corner Library ($715K) Boston, MA
Slide 36: Dominica Electric ($200K)
Dominica Electric ($200K) Dominica, West Indies FIR
Slide 37: Question Period
QUESTION PERIOD
Slide 38: Meeting Adjourned
MEETING ADJOURNED