Caldwell Reports Fourth Quarter and Full Year Fiscal 2026 Results; Increases Quarterly Dividend and Declares a Special Dividend

TORONTO, ON / ACCESS Newswire / November 12, 2026 / Talent acquisition firm The Caldwell Partners International Inc. (TSX:CWL)(OTCQX:CWLPF) today issued its financial results for the fourth quarter of fiscal 2026, ended August 31, 2026. The firm also announced a quarterly dividend of $0.02 per share (2.0 cents per common share), up from $0.015 per share (1.5 cents per common share) in the prior quarter as well as a one-time special dividend of $0.116 per share (11.6 cents per common share) representing an amount equal to the cash proceeds recently received from the sale of its IQTalent business. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars.

Financial Highlights (in $000s except per share amounts)

1. Professional fees of IQTalent are presented net of elimination of intercompany revenue.
2. Selling, general and administrative expenses include an expense of $233 related to share-based compensation as a result of share price increase in the current quarter, compared to a benefit of $121 in the same quarter last year. For the twelve months ended August 31, 2026, selling, general and administrative expenses include an expense of $558 related to share-based compensation as a result of share price increase, compared to a benefit of $405 in the same period last year.
3. We recognized a goodwill impairment of $3,981 related to IQTalent in the current quarter. In the prior year, other expense of $112 primarily comprises $275 in IQTalent management separation costs and a $324 loss on Caldwell's Toronto office sublease, partly offset by a $487 benefit from the U.S. Employee Retention Tax Credit (ERTC) under the CARES Act.
4. Non-GAAP measure calculated by excluding tax-adjusted goodwill impairment and other income from net earnings after tax and dividing by the number of shares outstanding at the end of the period. This measure allows for enhanced comparability of the current quarter results compared to the same quarter last year. See the following page for the reconciliation to reported amounts.

"Fiscal 2026 was a strong year for Caldwell, with annual revenue exceeding $100 million despite an increasingly challenging market environment that developed late in the fiscal year," said Chris Beck, chief executive officer. "Our performance reflects the strength of our client relationships, the expertise of our partners and the resilience of our business. Throughout the year, we continued to invest in exceptional talent, strengthen our leadership team and build the capabilities that will support our long-term growth."

"While we are pleased with our full-year revenue performance, the fourth quarter presented a more challenging operating environment as client hiring demand pulled back significantly," Beck continued. "Lower search volumes, combined with the near-term costs associated with new partner hires and investments in our search capabilities, placed pressure on profitability. Demand suppression continued into September, but October saw a strong increase in new assignments. We remain focused on managing our business with discipline while continuing to invest in the people and capabilities that differentiate Caldwell. These investments take time to translate into revenue and profit contribution but are essential to our long-term success."

"The recently completed sale of IQTalent brings additional focus and resources to execute our strategy. With a talented and growing team of partners and an expanding suite of leadership advisory capabilities, we are well-positioned to build on our strengths in executive search and leadership intelligence. As we enter fiscal 2027, our priorities are to deepen client relationships, support partner productivity and continue advancing the technology and advisory capabilities that will drive sustainable growth and long-term shareholder value."

The Board of Directors continues to believe the payment of dividends is in the best interests of the Company and its shareholders. In determining quarterly dividend payments, special dividends and share buybacks, the Board of Directors considers many factors including current results, future projections, cash needs for operational growth and Unencumbered Cash (as defined in Non‐GAAP Financial Measures and in its MD&A). Accordingly, the Board of Directors today declared a quarterly dividend of $0.02 per Common Share (2.0 cents per common share) and a special dividend of $3.2 million was also announced, equal to $0.116 per share (11.6 cents per common share), representing a distribution of the cash proceeds received from the sale of its IQTalent business. The dividends will be payable to holders of Common Shares of record on November 23, 2026, and to be paid on December 15, 2026.

Adjusted Earnings Per Share (EPS)

The table below reconciles adjusted EPS, which is a non-GAAP financial measure, to our reported net earnings after tax. Other (income)/ expense was $nil for the fourth quarter of fiscal 2025. As a result, adjusted EPS was the same as reported EPS for the period.

1. Calculated by applying Consolidated Caldwell's effective tax rate. Goodwill impairment is not deductible for tax purposes and therefore has an effective tax rate of nil.

About Caldwell Partners

Caldwell is an elite executive search firm trusted by established and growth-focused companies alike. For more than 50 years we have partnered with clients to design and build extraordinary teams. Our partners don't just place leaders-they challenge assumptions, enable strategy, and prioritize long-term fit. Built through repeat clients and referrals, Caldwell delivers clarity and results without arrogance or shortcuts. For clients seeking substance over scale, we're the confident voice that listens-and leads. At Caldwell, our purpose is your mission.

Caldwell Partners' common shares are listed on The Toronto Stock Exchange (TSX: CWL) and trade on the OTCQX Market (OTCQX: CWLPF). Please visit our website at www.caldwell.com for further information.

Forward-Looking Statements

Forward-looking statements in this document are based on current expectations subject to the significant risks and uncertainties cited. These forward-looking statements generally can be identified by the use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee," "may," "will," "likely," "estimates," "potential," "continue" or other similar words or phrases. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements.

We are subject to many factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statement including, but not limited to, our ability to attract and retain key personnel; exposure to departing partners taking their client relationships to another firm; the performance of the US, Canadian and international economies; technological advances that may significantly disrupt the labour market and weaken demand for human capital at a rapid rate; competition from other companies directly or indirectly engaged in talent acquisition; cybersecurity requirements, vulnerabilities, threats and attacks; damage to our brand reputation; foreign currency exchange rate fluctuations; our ability to align our cost structure to changes in our revenue; liability risk in the services we perform; potential legal liability from clients, employees and candidates for employment; reliance on software that we license from third parties; reliance on third-party contractors for talent acquisition support; the classification of third-party labour as contractors versus employee relationships; our ability to successfully recover from a disaster or other business continuity issues; adverse governmental and tax law rulings; successfully integrating or realizing the expected benefits from our acquisitions, adverse operating issues from acquired businesses; volatility of the market price and trading volume of our common shares, including its impact on our compensation plans; affiliation agreements that may fail to renew or affiliates that may be acquired; the impact on profitability from marketable securities valuation fluctuations; increasing dependence on third parties for the execution of critical functions; our ability to generate sufficient cash flow from operations to support our growth and fund any dividends; potential impairment of our acquired goodwill and intangible assets; our limited ability to access credit; risks related to deposit-taking institutions; and disruption as a result of actions of certain stockholders or potential acquirers of the Company. For more information on the factors that could affect the outcome of forward-looking statements, refer to the "Risk Factors" section of our Annual Information Form and other public filings (copies of which may be obtained at www.sedar.com). These factors should be considered carefully, and the reader should not place undue reliance on forward-looking statements. Although any forward-looking statements are based on what management currently believes to be reasonable assumptions, we cannot assure readers that actual results, performance or achievements will be consistent with these forward-looking statements. Management's assumptions may prove to be incorrect. Except as required by Canadian securities laws, we do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf; such statements speak only as of the date made. The forward-looking statements included herein are expressly qualified in their entirety by this cautionary language.

For further information, please contact:

Investors:
Shreya Lathia, Vice President and Chief Financial Officer
slathia@caldwell.com
+1 (416) 934-2241

Media:
Caroline Lomot, Vice President, Marketing & Communications
clomot@caldwell.com
+1 (516) 830-3535

THE CALDWELL PARTNERS INTERNATIONAL INC.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(audited - in $000s Canadian)

THE CALDWELL PARTNERS INTERNATIONAL INC.
CONSOLIDATED STATEMENTS OF (LOSS) EARNINGS
(audited - in $000s Canadian, except per share amounts)