[1]	Includes intersegment revenue and intersegment fuel surcharge, which are eliminated in the consolidated results and are not disclosed by reportable segment due to the non-material amounts.

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Cash flows from operating activities

Net income

$ 310,553

$ 422,484

Adjustments for:

Depreciation of property and equipment

350,902

332,580

Depreciation of right-of-use assets

172,762

169,505

Amortization of intangible assets

86,840

79,984

Share-based payment transactions

15,148

11,074

Net finance costs

159,956

158,239

Income tax expense

94,807

138,239

Gain on sale of property and equipment

(12,759)

(7,434)

(Gain) loss on derecognition of right-of-use assets

(451)

105

(Gain) loss, net of impairment, on sale of assets held for sale

(5,382)

192

Employee benefits

(31,729)

38,088

Provisions, net of payments

(33,325)

15,637

Net change in non-cash operating working capital

142,457

11,566

Interest paid

(153,599)

(157,062)

Income tax paid

(118,392)

(150,546)

Net cash from operating activities

977,788

1,062,651

Cash flows used in investing activities

Purchases of property and equipment

(273,220)

(392,819)

Proceeds from sale of property and equipment

58,778

65,389

Proceeds from sale of assets held for sale

68,942

33,404

Purchases of intangible assets

(9,703)

(6,274)

Business combinations, net of cash acquired

(201,258)

(957,963)

Purchases of investments

(4,755)

Proceeds from sale of investments

19,068

Others

(661)

(5,420)

Net cash used in investing activities

(361,877)

(1,244,615)

Cash flows (used in) from financing activities

Net increase in bank indebtedness

1,479

6,777

Proceeds from long-term debt

219,378

500,000

Repayment of long-term debt

(320,002)

(536,700)

Net increase in revolving facilities

254,594

261,783

Repayment of lease liabilities

(163,250)

(165,350)

Decrease of other financial liabilities

(7,376)

(4,374)

Dividends paid

(151,091)

(133,928)

Repurchase of own shares

(225,815)

(76,616)

Proceeds from exercise of stock options

6,471

13,523

Share repurchase for settlement of restricted share units and performance share units

(16,892)

(29,554)

Net cash (used in) from financing activities

(402,504)

(164,439)

Net change in cash and cash equivalents

213,407

(346,403)

Cash and cash equivalents, beginning of year

^[1]

335,556

Effect of movements in exchange rates on cash and cash equivalents

(3,221)

10,847

Cash and cash equivalents, end of year

$ 210,186

$ 0

^[1]

[1]	Recast for adjustments to provisional amounts of Daseke prior year’s business combination (see note 5c))

Consolidated Statements of Financial Position - USD ($)
$ in Thousands

Dec. 31, 2025

Dec. 31, 2024

^[1]

Assets

Cash and cash equivalents

$ 210,186

$ 0

Trade and other receivables

881,432

927,654

Inventoried supplies

19,529

17,962

Current taxes recoverable

26,074

11,996

Prepaid expenses

60,035

65,810

Assets held for sale

11,906

13,627

Current assets

1,209,162

1,037,049

Property and equipment

2,779,326

2,891,087

Right-of-use assets

590,216

536,748

Intangible assets

2,864,436

2,642,933

^[2]

Investments

24,954

22,097

Other assets

30,729

22,188

Deferred tax assets

10,412

13,724

^[3]

Non-current assets

6,300,073

6,128,777

Total assets

7,509,235

7,165,826

^[2]

Liabilities

Bank indebtedness

8,256

6,777

Trade and other payables

667,246

639,190

Current taxes payable

7,609

11,995

Provisions

86,864

99,540

Other financial liabilities

12,713

15,220

Long-term debt

222,498

93,453

Lease liabilities

165,291

152,449

Current liabilities

1,170,477

1,018,624

Long-term debt

2,355,477

2,309,428

Lease liabilities

472,473

421,213

Employee benefits

46,405

70,456

Provisions

142,159

159,936

Other financial liabilities

97,866

4,466

Deferred tax liabilities

546,751

508,428

^[3]

Non-current liabilities

3,661,131

3,473,927

Total liabilities

4,831,608

4,492,551

^[2]

Equity

Share capital

1,125,109

1,135,500

Contributed surplus

32,331

30,971

Accumulated other comprehensive income

(257,796)

(331,903)

Retained earnings

1,777,983

1,838,707

Total equity

2,677,627

2,673,275

Total liabilities and equity

$ 7,509,235

$ 7,165,826

[1]	Recast for adjustments to provisional amounts of Daseke prior year’s business combination (see note 5c))
[2]	(2) Recast for adjustments to provisional amounts of Daseke prior year’s business combination (see note 5c)).
[3]	Recast for adjustments to provisional amounts of Daseke prior year’s business combination (see note 5c))