BUTLER TRAVEL LLC

may be issued under the Plan is 12.5 million. On April 12, 2019, the Company granted 2.5 million restricted shares to employees. In April 2024, 1.65 million of those shares became fully vested and non-forfeitable. The remaining 850 thousand shares were forfeited. On March 17, 2020, the Company granted 5.0 million restricted shares to employees. These shares have voting rights at date of grant and become fully vested on March 16, 2025. The restricted shares were valued at $ 0.41 per share, for a total of $ 2.0 million. The deferred compensation related to these grants was expensed on the financial statements over the five-year vesting period. In January 2025, the Company granted executive officers 86,704 shares as employee compensation. The first installment of these shares vested immediate

n fiscal 2025. We continue focusing on our margin expansion initiatives, including efficiencies in our implementation of improved operational processes and controlling general and administrative expenses. We have made a deliberate shift toward higher-margin product lines and improved operational alignment. We expanded our fabrication capabilities through the new facility in Newton, Kansas, and continued growth at our KC Machine location. At the same time, we are optimizing our workforce by balancing production between Newton and New Century to address labor availability and demand. As a result, the fiscal 2026 operating income was $28.5 million, an increase of 69% from $16.8 million in fiscal 2025. This represents an operating margin of 29% in fiscal 2026, compared to 20% in fiscal 2025 (o

ompetitive base pay (with variable pay programs to reward outstanding performance), bonus programs, long-term incentive programs, benefits programs, retirement savings options and matching contributions, paid time off for sick, vacation and volunteer work, a global employee stock purchase plan and protected leave time for medical and family care, of which both medical and bonding leaves are paid. As part of our continuous effort to cultivate a better workplace, we solicit feedback from all global colleagues regularly through engagement and pulse surveys. These surveys focus on a variety of different areas, including engagement and alignment with our GBT behaviors. In the most recent annual engagement survey performed in November 2025, we achieved an 82% participation rate. We had an overal

hange increase/(decrease) (in $ millions except percentages) 2025 2024 $ % General and administrative $ 290 $ 308 $ (18) (6) % 61 For the year ended December 31, 2025, general and administrative expenses decreased by $18 million, or 6%, due to (i) a $17 million decrease resulting from cost saving initiatives, (ii) a $15 million decrease in employee incentives , (iii) a $10 million decrease in mergers and acquisitions costs, and (iv) a $4 million decrease in integration costs, partially offset by (v) $24 million of incremental expenses resulting from the CWT acquisition and (vi) $4 million increase in head office and other corporate costs. Restructuring and Other Exit Charges For the year ended December 31, 2025, restructuring charges of $52 million primarily related to restructuring action