Westport Publishes Annual General and Special Meeting Results

Rhea-AI Summary

Westport Fuel Systems held its Annual General and Special Meeting virtually, where shareholders approved all proposed resolutions. Key approvals included: election of six directors with approval rates ranging from 61.28% to 91.10%, appointment of KPMG LLP as auditors (93.83% approval), an advisory vote on executive compensation (52.87% approval), and the sale of Westport Fuel Systems Italia S.r.l (83.38% approval).

Notable voting results showed mixed shareholder sentiment, with some directors receiving strong support while others, like Daniel M. Hancock and Karl-Viktor Schaller, received lower approval rates around 61%. The executive compensation vote passed with a narrow majority of 52.87%.

Positive

• Strong approval (83.38%) for the strategic sale of Westport Fuel Systems Italia S.r.l
• High confidence in auditors with 93.83% approval for KPMG LLP
• Strong shareholder support for some directors, particularly Daniel Sceli (91.10%)

Negative

• Low shareholder support (52.87%) for executive compensation package
• Significant opposition to some board members with nearly 39% voting against Karl-Viktor Schaller and Daniel M. Hancock

VANCOUVER, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport" or the "Company") (TSX:WPRT / Nasdaq:WPRT), today held its Annual General and Special Meeting of Shareholders (the "Meeting") in a virtual format. Shareholders approved all resolutions presented at the meeting including the election of all nominated directors for the ensuing year, the appointment of KPMG LLP as the Company's auditors for the fiscal year, the advisory vote on executive compensation, and the sale of Westport Fuel Systems Italia S.r.l in accordance with the terms of the sale and purchase agreement dated as of March 30, 2025.

A summary of the results are as follows:

Resolution	Outcome of Vote	Percentage of Votes For	Percentage of Votes Withheld/Against
Election of Directors
Michele Buchignani	Approved	81.22%	18.78%
Anthony Guglielmin	Approved	87.16%	12.84%
Daniel M. Hancock	Approved	61.47%	38.53%
Daniel Sceli	Approved	91.10%	8.90%
Karl-Viktor Schaller	Approved	61.28%	38.72%
Eileen Wheatman	Approved	81.43%	18.57%
Appointment of Auditors	Approved	93.83%	6.17%
Executive Compensation
(Advisory Vote)	Agree	52.87%	47.13%
Sale of Westport Fuel Systems Italia S.r.l	Approved	83.38%	16.62%

About Westport Fuel Systems

At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

Investor Inquiries:
Investor Relations
T: +1 604-718-2046
E: invest@wfsinc.com

FAQ

What was the outcome of Westport Fuel Systems (WPRT) 2025 Annual General Meeting?

All resolutions were approved, including director elections, KPMG LLP as auditors, executive compensation, and the sale of Westport Fuel Systems Italia S.r.l.

What percentage of shareholders approved the sale of Westport Fuel Systems Italia S.r.l?

83.38% of shareholders voted in favor of the sale of Westport Fuel Systems Italia S.r.l.

How did shareholders vote on WPRT's executive compensation in 2025?

The executive compensation received narrow approval with 52.87% of shareholders voting in favor and 47.13% against.

Who received the highest approval rating among Westport's director nominees?

Daniel Sceli received the highest approval rating among directors with 91.10% of votes in favor.

What was the voting result for WPRT's auditor appointment?

KPMG LLP was approved as auditor with 93.83% of votes in favor.