AGI Continues Board Refreshment with Nomination of Three New Independent Directors

Rhea-AI Summary

Ag Growth International (AGI) announces three new independent director nominees for election at its 2025 annual meeting: Jean-Philippe Choquette (major shareholder), Daniel Halyk (CEO of Total Energy Services), and Corrine Ricard (former President of Mosaic Fertilizantes).

Current directors Bill Maslechko and David White will retire, while Board Chair Janet Giesselman plans to step down at the 2026 annual meeting. Following these changes, the Board will comprise eight directors, with seven of nine AGI directors having joined in the last four years.

The nominations follow a comprehensive search process led by independent directors with support from an international search firm. The new nominees bring expertise in agriculture, investment, and public company operations. The Board will formally elect a new Chair following Giesselman's retirement in 2026.

Positive

• Board refreshment brings diverse expertise in agriculture, investment, and public company operations
• High level of board independence with 8 out of 9 directors being independent
• Significant shareholder representation through nomination of major shareholder Jean-Philippe Choquette

Negative

• None.

New Board Chair to be Appointed Following the Company’s 2026 Annual Meeting of Shareholders

WINNIPEG, Manitoba--(BUSINESS WIRE)-- Ag Growth International Inc. ("AGI" or the "Company") announces that three highly qualified and independent nominees – Jean-Philippe Choquette, Daniel Halyk, and Corrine Ricard – have agreed to stand for election as new director nominees of AGI at the Company's 2025 annual meeting of shareholders (the “Meeting”).

The Board selected Mr. Choquette, Mr. Halyk, and Ms. Ricard following a comprehensive search process that considered numerous potential candidates and included extensive engagement with AGI shareholders. A committee of independent directors led the process with support from a leading independent, internationally recognized search firm. Based on discussions with and support from significant, long-term shareholders, the board of directors (the "Board") will nominate Mr. Choquette, who is one of the Company's largest shareholders, Mr. Halyk, Chief Executive Officer and founder of Total Energy Services Inc., and Ms. Ricard, former President, Mosaic Fertilizantes and an experienced corporate director.

“We are pleased to have secured new director nominees of the calibre and expertise of Jean-Philippe, Daniel, and Corrine,” said Janet Giesselman, Board Chair. “They will bring a combination of direct, significant shareholder representation, complementary skills and deep experience – including decades of agricultural, investment, and public company operating experience – that will be invaluable as we continue to advance our strategy to unlock the full potential of AGI.”

The Company also announced that directors Bill Maslechko and David White plan to retire from the Board and will not stand for election at the Meeting, and that Janet Giesselman has advised the Board of her plans to retire as Board Chair and not stand for election as a director at the 2026 annual meeting of shareholders, in order to provide for an orderly transition of the Chair role. The Board will formally elect a new Chair following Ms. Giesselman's retirement, at which point it is expected that the Board will be comprised of eight directors.

Giesselman added, “On behalf of the entire Board, I would like to thank Bill and David for their immense contributions to AGI. Since joining the Board, their knowledge and experience have been integral to AGI’s growth and success.”

The Board intends to nominate the following nine individuals for election at the Meeting, eight of whom are independent:

• Rohit Bhardwaj, director since 2022, will be appointed Chair of the Audit Committee. Mr. Bhardwaj is currently CFO of Chemtrade Logistics Income Fund and has more than 25 years of business experience in publicly traded international organizations across multiple industries.
• Jean-Philippe Choquette, inaugural election in 2025 (refer to bio on Mr. Choquette below).
• Anne De Greef-Safft, director since 2018, will continue to serve as Chair of the Human Resources & Compensation Committee. Ms. De Greef-Safft brings to the Board significant global P&L and operational leadership, M&A and integration, talent development, and climate leadership experience in various industrial manufacturing businesses. She currently serves as director on several other public company boards.
• Mike Frank, director since 2021, will be appointed Chair of the Governance & Sustainability Committee. Mr. Frank is currently the President and CEO of UPL Corporation, and he brings a depth of industry knowledge and expertise in the global agricultural industry in a variety of strategic and leadership roles.
• Janet Giesselman, director since 2013, will continue to serve as Board Chair until the 2026 annual meeting of shareholders. Ms. Giesselman has extensive experience in agriculture and agricultural businesses from her more than 30 years in the field and extensive public and private company board service.
• Daniel Halyk, inaugural election in 2025 (refer to bio on Mr. Halyk below).
• Paul Householder, director since 2022, when he was appointed as the Company’s CEO. Mr. Householder joined the Company in June 2019 as Executive Vice President, International with responsibility for leading all aspects of AGI’s businesses outside of North America.
• Corrine Ricard, inaugural election in 2025 (refer to bio on Ms. Ricard below).
• Mary Shafer-Malicki, director since 2024, has over 25 years of operations, engineering and management experience in multiple countries and locations. She has extensive experience in managing relationships with partners, communities, and governmental agencies, and she currently serves as a director on several for-profit and non-profit boards.

Assuming the election of the new and incumbent director nominees, seven of nine AGI directors will have joined AGI's Board in the last four years.

New Nominee Biographies

Mr. Choquette is currently a private investor. Previously, he was Vice-President and Senior Portfolio Manager (Equities) at Fiera Capital Corporation, where he oversaw equity funds that held $3.5 billion in Canadian assets. Prior to becoming a Portfolio Manager, Mr. Choquette was a Financial Analyst specializing in the Industrials and Materials sectors. Mr. Choquette received a Bachelor of Business Administration (Finance Major) from Sherbrooke University and holds a Chartered Financial Analyst designation.

Mr. Halyk is the founder of Total Energy Services Inc. (TSX: TOT) and has served as a director of the company since its inception in November 1996 and as Chief Executive Officer since 2002. Mr. Halyk co-founded Trident Capital Partners in 1997, a private limited partnership that invested primarily in the energy and real estate industries until 2021. Prior to starting Trident Capital, Mr. Halyk was a corporate/securities lawyer with Bennett Jones in Calgary. Mr. Halyk received his Bachelor of Commerce (Finance Major) and Bachelor of Laws degrees from the University of Saskatchewan.

Ms. Ricard is a former Senior Advisor and Senior Vice President of Digital Strategy and Transformation at The Mosaic Company (NYSE: MOS), a leading global producer and marketer of concentrated phosphate and potash. Previously, Ms. Ricard served as President of Mosaic Fertilizantes, a business segment of The Mosaic Company, which produces and sells phosphate and potash-based crop nutrients and animal feed ingredients in Brazil. Before joining Mosaic, Ms. Ricard worked for Cargill, Incorporated, a global producer of agricultural products, in various roles, including supply chain, product management and international sales. She currently serves as a director and the Chair of the Compensation Committee of Carlisle Companies Incorporated (NYSE: CSL) and holds a Master of Business Administration from Carlson School of Management, University of Minnesota and a Bachelor of Science, Finance from the University of Minnesota.

AGI Company Profile

AGI is a provider of the equipment and solutions required to support the efficient storage, transport, and processing of food globally. AGI has manufacturing facilities in Canada, the United States, Brazil, India, France, and Italy and distributes its products worldwide.

No Solicitation

This news release is for informational purposes only and is not a solicitation of proxies. Any proxies solicited in respect of the Meeting will be solicited by the Company pursuant to a management information circular or as otherwise permitted by applicable law.

Forward-Looking Information

This news release contains certain forward-looking information including, without limitation, information regarding the Company's current expectations for the nominees expected to stand for election as directors at the Meeting, the timing of the Chair's retirement, the future number of directors and changes to the Chairs of certain Board committees. This forward-looking information is based on a number of factors and assumptions including, among other things, the continued ability and willingness of the proposed nominees to stand for election as directors at the Meeting, and the election of such nominees as directors the Meeting. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. Although AGI believes that the factors and assumptions on which the forward-looking information are based are reasonable, undue reliance should not be placed on the forward-looking information because AGI can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties, most of which are beyond AGI's control. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties including, without limitation, the risk that one or more of the proposed nominees are unable or unwilling to stand for election, or that one or more of such nominees are not elected, and that one or more individuals are nominated or elected in their place. Readers are cautioned that the foregoing lists of risks and uncertainties is not exhaustive. This forward-looking information is made as of the date of this news release and AGI disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250407792150/en/

Andrew Jacklin

Sr. Director, Investor Relations

+1-437-335-1630

investor-relations@aggrowth.com

Source: Ag Growth International Inc.

FAQ

Who are the three new independent director nominees for AGI's 2025 annual meeting?

The nominees are Jean-Philippe Choquette (major shareholder), Daniel Halyk (CEO of Total Energy Services), and Corrine Ricard (former President of Mosaic Fertilizantes).

When will AGI's current Board Chair Janet Giesselman step down?

Janet Giesselman plans to retire as Board Chair and not stand for election at AGI's 2026 annual meeting of shareholders.

How many directors will comprise AGI's Board after the transition?

Following the transition, the Board is expected to be comprised of eight directors, with eight out of nine being independent.

What percentage of AGI's Board will be recently appointed directors?

Seven of nine AGI directors (78%) will have joined the Board in the last four years, assuming the election of the new and incumbent director nominees.