WINNIPEG, Manitoba–(BUSINESS WIRE)–Exchange Income Corporation (TSX: EIF) (the “Corporation”), announced today the voting results on the election of directors from its 2022 Annual and Special Meeting of Shareholders (“AGM”).

A total of 10,454,489 common shares representing 26.91% of the Corporation’s 38,852,021 issued and outstanding common shares were voted in connection with the AGM. Shareholders approved all items of business before the AGM, including the election of directors as follows:

Nominees

Votes in

Favour

% For

Votes

Withheld

% Withheld

 

Total

Brad Bennett

10,331,183

98.82%

123,306

1.18%

10,454,489

Gary Buckley

10,327,349

98.78%

127,140

1.22%

10,454,489

Polly Craik

10,416,402

99.64%

38,087

0.36%

10,454,489

Bruce Jack

10,396,249

99.44%

58,240

0.56%

10,454,489

Duncan Jessiman

10,205,789

97.62%

248,700

2.38%

10,454,489

Michael Pyle

10,352,914

99.03%

101,575

0.97%

10,454,489

Grace Schalkwyk

10,282,771

98.36%

171,718

1.64%

10,454,489

Melissa Sonberg

9,968,441

95.35%

486,048

4.65%

10,454,489

Donald Streuber

10,092,328

96.54%

362,161

3.46%

10,454,489

Edward Warkentin

10,261,164

98.15%

193,325

1.85%

10,454,489

At the meeting, shareholders also voted in favour of the reappointment of PricewaterhouseCoopers LLP as the auditor of the Corporation until the close of the next annual meeting of shareholders; the approval of the unallocated awards under the Fourth Amended and Restated Employee Share Purchase Plan of the Corporation; and the approval, on an advisory basis, of the Corporation’s approach to executive compensation.

About Exchange Income Corporation

Exchange Income Corporation is a diversified acquisition-oriented company, focused in two sectors: aerospace & aviation services and equipment, and manufacturing. The Corporation uses a disciplined acquisition strategy to identify already profitable, well-established companies that have strong management teams, generate steady cash flow, operate in niche markets and have opportunities for organic growth. For more information on the Corporation, please visit www.ExchangeIncomeCorp.ca. Additional information relating to the Corporation, including all public filings, is available on SEDAR (www.sedar.com).

Caution concerning forward-looking statements

The statements contained in this news release that are forward-looking are based on current expectations and are subject to a number of uncertainties and risks, and actual results may differ materially. These uncertainties and risks include, but are not limited to, COVID-19 and pandemic related risks, the dependence of Exchange Income Corporation on the operations and assets currently owned by it, the degree to which its subsidiaries are leveraged, the fact that cash distributions are not guaranteed and will fluctuate with the Corporation’s financial performance, dilution, restrictions on potential future growth, the risk of shareholder liability, competitive pressures (including price competition), changes in market activity, the cyclicality of the industries, seasonality of the businesses, poor weather conditions, and foreign currency fluctuations, legal proceedings, commodity prices and raw material exposure, dependence on key personnel, and environmental, health and safety and other regulatory requirements. Except as required by Canadian Securities Law, Exchange does not undertake to update any forward-looking statements; such statements speak only as of the date made. Further information about these and other risks and uncertainties can be found in the disclosure documents filed by Exchange Income Corporation with the securities regulatory authorities, available at www.sedar.com.

Contacts

Mike Pyle

Chief Executive Officer

Exchange Income Corporation

(204) 982-1850

MPyle@eig.ca

Pam Plaster

Vice President, Investor Development

Exchange Income Corporation

(204) 953-1314

PPlaster@eig.ca

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