Hammond Power Solutions Inc. Announces Voting Results from Annual General and Special Meeting

Guelph, Ontario – Hammond Power Solutions Inc. (HPS), a leading manufacturer of custom electrical equipment, today announced the voting results from its Annual General and Special Meeting of shareholders held earlier this week.

Director Election Results

Shareholders voted to re-elect all nominated directors to the Company’s Board of Directors. The following individuals were elected for the ensuing year:

• John Hammond – Chairman and Chief Executive Officer
• Sarah Mitchell – Lead Independent Director
• Robert Chen – Independent Director
• Elizabeth Thompson – Independent Director
• Michael Rodriguez – Independent Director
• David Williams – Independent Director

The election results reflect strong shareholder confidence in the current leadership team and the Board’s commitment to effective corporate governance.

Auditor Appointment

Shareholders approved the re-appointment of KPMG LLP as the Company’s independent external auditors for the fiscal year ending December 31, 2024. The audit firm has served Hammond Power Solutions for multiple consecutive years, bringing extensive experience in the manufacturing and industrial sectors.

Executive Compensation Advisory Vote

In line with good governance practices, the Company presented its executive compensation report for a non-binding advisory vote. Shareholders approved the compensation philosophy and approach outlined in the Management Information Circular, with over 90% support for the executive compensation program.

Amendments to Equity Incentive Plans

Shareholders approved amendments to the Company’s equity incentive plans, which will allow for greater flexibility in attracting and retaining key talent. The amendments include adjustments to share-based compensation limits and the addition of new performance-based vesting criteria.

Statement from Leadership

“We are grateful for the continued support and trust of our shareholders,” said John Hammond, Chairman and CEO of Hammond Power Solutions Inc. “The voting results demonstrate alignment between our strategic direction and the interests of our shareholders. We remain committed to delivering value through operational excellence and sustainable growth.”

About Hammond Power Solutions Inc.

Hammond Power Solutions Inc. is a North American leader in the design and manufacture of custom electrical equipment. The Company specializes in transformers, magnetic components, and power quality solutions for industrial, commercial, and utility applications. With headquarters in Guelph, Ontario, HPS serves customers across North America and internationally.

For more information about Hammond Power Solutions and its financial performance, please visit the Company’s investor relations website.