South Bow Announces Approval of Resolutions at Annual General Meeting of Shareholders

Rhea-AI Summary

South Bow (TSX & NYSE: SOBO) held its annual general meeting on May 7, 2026, and shareholders approved all resolutions presented.

Shareholders elected 11 directors with individual votes in favour ranging from 97.76% to 99.68%. KPMG LLP was appointed auditor with 99.84% support. The advisory vote on executive compensation received 96.96% support.

Positive

• All 11 directors elected with votes in favour between 97.76% and 99.68%
• Appointment of KPMG LLP as auditor with 99.84% shareholder support
• Advisory approval of executive compensation at 96.96% support

Negative

• None.

News Market Reaction – SOBO

-1.14%

-1.14% News Effect

On the day this news was published, SOBO declined 1.14%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement confirms strong shareholder backing for South Bow’s governance, with all 11 direct...

Analysis

This announcement confirms strong shareholder backing for South Bow’s governance, with all 11 directors, KPMG LLP as auditor, and the say‑on‑pay resolution receiving between 96.96% and 99.84% support. In context of recent filings showing solid 2025 financial performance and ongoing remediation of the Milepost 171 incident, the AGM outcome reinforces board continuity and oversight. Investors may watch upcoming earnings, project execution, and any further regulatory updates as the next key catalysts beyond this governance event.

Key Figures

Board members: 11 directors Director support range: 97.76%–99.68% Hal Kvisle support: 98.25% in favour +4 more

7 metrics

Board members 11 directors Number of directors approved at 2026 AGM

Director support range 97.76%–99.68% Votes in favour for individual director elections

Hal Kvisle support 98.25% in favour Votes for Hal Kvisle as director

Lowest director support 97.76% in favour Votes for Sonya Reed as director

Highest director support 99.68% in favour Votes for Bevin Wirzba as director

Auditor approval 99.84% in favour Vote to appoint KPMG LLP as auditors

Say-on-pay approval 96.96% in favour Advisory vote on executive compensation approach

Historical Context

5 past events · Latest: Apr 09 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 09	Earnings/AGM timing	Neutral	-0.6%	Announced timing for Q1 2026 results, conference call, and virtual AGM.
Mar 05	Earnings and dividend	Positive	+0.4%	Reported Q4 and 2025 results, declared $0.50/share dividend, project update.
Feb 13	Incident analysis	Negative	-1.6%	Disclosed root cause analysis and remedial integrity work for MP-171 incident.
Feb 05	Results timing	Neutral	+0.6%	Announced timing and webcast details for Q4 and year-end 2025 results.
Nov 13	Q3 results/dividend	Positive	+5.1%	Reported Q3 2025 results, 2026 outlook, and multiple $0.50/share dividends.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Across the last five news events, price moves have generally aligned with the tone: positive dividend/earnings and project updates saw gains, operational incident disclosures and routine scheduling news saw flat-to-modest declines.

Recent Company History

Recent news for South Bow shows a mix of operational, financial, and governance developments. Q3 and full-year 2025 results highlighted metrics like $461M revenue, $93M net income, and $254M normalized EBITDA in Q3, plus dividends of $0.50/share. Later, 2025 results confirmed $1,986M revenue, $433M net income, and $1,022M normalized EBITDA, alongside guidance for 2026. The Milepost 171 incident analysis emphasized integrity work, while prior releases set timing for earnings, webcasts, and the AGM that approved today’s resolutions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CALGARY, Alberta, May 07, 2026 (GLOBE NEWSWIRE) -- South Bow Corp. (TSX & NYSE: SOBO) (South Bow or the Company) announces that its shareholders approved all resolutions at the Company's annual general meeting held on May 7, 2026 (the Meeting).

During the business proceedings of the Meeting, South Bow's shareholders approved the following resolutions:

1.  Resolution to appoint 11 board members, with 97.76% to 99.68% of shares represented at the Meeting voting in favour of the individual directors as follows:

Director	Votes in Favour (%)	Votes Against (%)
Hal Kvisle	98.25	1.75
Chansoo Joung	99.03	0.97
George Lewis	98.99	1.01
Leonard Mallett	99.63	0.37
Robert (Bob) G. Phillips	99.64	0.36
Sonya Reed	97.76	2.24
Shannon Ryhorchuk	99.66	0.34
Mary Pat Salomone	99.61	0.39
Frances M. Vallejo	99.53	0.47
Don Wishart	99.28	0.72
Bevin Wirzba	99.68	0.32

2.  Resolution to appoint KPMG LLP as the Company's auditors, with 99.84% of the shares represented at the Meeting voting in favour of the resolution.

3.  Resolution to accept South Bow's approach to executive compensation, as disclosed in the Company's management information circular dated March 13, 2026, with 96.96% of the shares represented at the Meeting voting in favour of the resolution.

About South Bow

South Bow safely operates 4,900 kilometres (3,045 miles) of crude oil pipeline infrastructure, connecting Alberta crude oil supplies to U.S. refining markets in Illinois, Oklahoma, and the U.S. Gulf Coast through our unrivalled market position. We take pride in what we do—providing safe and reliable transportation of crude oil to North America's highest demand markets. As an investment-grade entity based in Calgary, Alberta, South Bow's common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol SOBO. To learn more, visit www.southbow.com. 

Contact information
Investor Relations Martha Wilmot investor.relations@southbow.com		Media Relations Solomiya Martoiu communications@southbow.com

FAQ

Who were elected to South Bow's board at the May 7, 2026 AGM (SOBO)?

All 11 nominated directors were elected by shareholders on May 7, 2026. According to the company, each director received between 97.76% and 99.68% votes in favour, listed individually in the meeting results.

What percentage of shareholders voted to appoint KPMG LLP as South Bow auditor (SOBO)?

99.84% of shares represented at the meeting voted in favour of appointing KPMG LLP. According to the company, this was the formal auditor appointment resolution approved at the May 7, 2026 meeting.

How did South Bow shareholders vote on executive compensation at the May 7, 2026 AGM (SOBO)?

Shareholders approved the advisory approach to executive compensation with 96.96% support. According to the company, the vote reflects approval of the compensation disclosure in the March 13, 2026 circular.

What were the closest and strongest director vote percentages at South Bow's 2026 AGM (SOBO)?

The closest director vote was 97.76% in favour; the strongest was 99.68%. According to the company, those percentages represent the range of shareholder support for individual director elections.

Where can investors find the detailed meeting results for South Bow's May 7, 2026 AGM (SOBO)?

Detailed meeting results are available in the company’s public meeting disclosures and filings. According to the company, the results include individual director vote percentages and resolutions approved at the AGM.