Badger Infrastructure Solutions Ltd. Announces Voting Results of 2025 Annual Meeting of Shareholders

Badger Infrastructure Solutions Ltd., North America's largest provider of non-destructive excavating and related services, has announced the voting results of its 2025 Annual Meeting of Shareholders. The meeting, held on April 30, 2025, saw all motions proposed by the management team approved by the shareholders.

Key Highlights

• Shareholder Participation: A total of 27,981,553 common shares were represented at the meeting, representing approximately 82.36% of the issued and outstanding common shares. This significant turnout underscores the engagement and support of Badger's shareholders.

• Director Elections: All ten director nominees proposed by the management team were elected. This outcome reflects the confidence that shareholders have in the leadership and direction of Badger.

• Auditor Appointment: The shareholders overwhelmingly approved the appointment of Deloitte LLP as the Company's auditor. The vote in favor was 99.94%, indicating strong support for Deloitte's continued role in auditing Badger.

• Executive Compensation: Management's approach to executive compensation, as disclosed in the Management Information Circular dated March 14, 2025, also received substantial backing. A total of 97.42% of the proxies and in-person votes cast were in favor of this compensation strategy.

About Badger Infrastructure Solutions Ltd.

Badger Infrastructure Solutions Ltd. (TSX:BDGI) is a leading provider of non-destructive excavating and related services. The company works with contractors and facility owners in various infrastructure industries and general commercial construction. Its services are particularly valuable in areas with high concentrations of underground power, communication, water, gas, and sewer lines, where safety and economic risks are high.

Recent Financial Performance

In its recent financial update, Badger reported solid growth in the first quarter of 2025. Key operational highlights include:

• Revenue: Revenue reached $172.6 million, a 7% increase from the same period in 2024.
• Gross Profit Margin: The gross profit margin improved to 25.5%, up from 24.8% in 2024.
• Adjusted EBITDA: Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased to $33.8 million, representing a 16% rise from 2024.
• Adjusted EBITDA Margin: The adjusted EBITDA margin rose to 19.6%, compared to 18.1% in 2024.
• Revenue per Truck per Month (RPT): The RPT stood at $35,034, slightly lower than the $35,138 reported in 2024 but still indicating strong operational efficiency.
• Adjusted Earnings per Share (EPS): Adjusted EPS was $0.19, a 36% increase from 2024.

The Company's board of directors has approved a quarterly cash dividend of CAD$0.1875 per common share for the second fiscal quarter of 2025. This dividend will be paid to all shareholders of record on June 30, 2025, and the payment date is expected to be on or after July 15, 2025[5].

Badger's continued growth and strong financial performance are testament to its strategic leadership and operational excellence in the non-destructive excavating industry.