Exchange Income Corporation Announces Voting Results for Its 2022 Annual and Special Meeting of Shareholders

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

A total of 10,454,489 common shares representing 26.91% of the 38,852,021 issued and outstanding common shares of the Company were voted on at the AGM. Shareholders approved all items prior to the AGM, including the election of directors as follows:

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Nominees

votes in

To favor

% For

Voting

Withheld

% Retained

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 Craig

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 Schalkwik

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 favor of renewing the mandate of PricewaterhouseCoopers LLP as auditor of the Company until the close of the next annual meeting of shareholders; the approval of unallocated awards under the Company’s Fourth Amended and Restated Employee Stock Purchase Plan; and approval, in an advisory capacity, of the Company’s approach to executive compensation.

About Exchange Income Corporation

Exchange Income Corporation is a diversified, acquisition-driven company focused on two industries: aerospace and aircraft services and equipment, and manufacturing. The Company uses a disciplined acquisition strategy to identify already profitable and well-established businesses that have strong management teams, generate stable cash flows, operate in niche markets and have opportunities for organic growth. For more information about the Company, please visit www.ExchangeIncomeCorp.ca. Additional information regarding the Company, including all public filings, is available on SEDAR ( www.sedar.com).

Caution Regarding Forward-Looking Statements

Statements in this press 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, Exchange Income Corporation’s dependence on the operations and assets it currently holds, the degree of indebtedness of its subsidiaries, the fact that cash distributions are not guaranteed and will fluctuate depending on the Company’s financial performance, dilution, restrictions on future growth potential, shareholder liability risk, competitive pressures (including price competition), changes in market activity, cyclicality of industries, seasonality of business, adverse weather and foreign currency fluctuations, legal proceedings, commodity prices raw materials and exposure to raw materials, dependence on key personnel and environmental, health and safety regulatory requirements é and others. Except as required by Canadian securities law, Exchange does not undertake to update forward-looking statements; these statements speak only as of the date on which they were made. Further information about these and other risks and uncertainties may be found in the disclosure documents filed by Exchange Income Corporation with securities regulatory authorities, available at www.sedar.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220520005437/en/

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contacts

Mike Pyle
Chief executive officer
Exchange income company
(204) 982-1850
[email protected]

Pam Plaster
Vice President, Investor Development
Exchange income company
(204) 953-1314
[email protected]

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