WATSCO INC — fact timeline

WATSCO INC shareholders approved Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the 2026 fiscal year at the 2026-06-01 meeting.

“Proposal 3. Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the 2026 fiscal year. The combined vote of the Company’s Common and Class B common stock was as follows: Votes For Votes Against Abstentions Broker Non-Votes 86,731,800 9,111 64,545 -”

WATSCO INC shareholders approved Approval of a non-binding advisory resolution regarding the compensation of the Company’s named executive officers at the 2026-06-01 meeting.

“Proposal 2. Approval of a non-binding advisory resolution regarding the compensation of the Company’s named executive officers. The combined vote of the Company’s Common and Class B common stock was as follows: Votes For Votes Against Abstentions Broker Non-Votes 80,839,936 2,969,397 125,790 2,870,337”

WATSCO INC shareholders approved Election of Directors at the 2026-06-01 meeting.

“Proposal 1. As set forth in the table that follows, (1) election of one director to serve as a Common stock director by Common shareholders voting as a single class and (2) election of two Class B Common stock directors by Class B common shareholders voting as a single class: Nominee Term Expires Votes For Votes Against Abstentions Broker Non-Votes Common Stock: Ana Lopez-Blazquez 2029 24,485,246 6,076,578 17,619 1,629,623 Class B Common Stock: Cesar L. Alvarez 2029 53,231,431 111,874 12,375 1,240,714 Denise Dickins 2029 53,242,653 113,027 - 1,240,714”

WATSCO INC reported first quarter ended March 31, 2026 results: revenue $1.53 billion, EPS $1.87.

“First Quarter Performance • Revenues were flat at $1.53 billion • Gross profit was flat at $428 million (gross profit margin of 27.9% versus 28.1% last year) • SG&A was also flat and consistent as a percentage of sales • Operating income decreased 2% to $110 million (operating margin of 7.2% versus 7.3% last year) • Earnings per share decreased 3% to $1.87 • Cash used in operations was $19 million versus $178 million last year, a $159 million improvement”

WATSCO INC reported the quarter ended March 31, 2024 results: revenue $1.56 billion, EPS $2.17.

“record cash flow during a period that typically requires working capital investment ahead of the selling season.” First Quarter Results • Revenues increased 1% to a record $1.56 billion (a 2% decline on a same-store basis) • Gross profit of $431 million (27.5% gross margin) • SG&A expenses increased 8%, including 18 new locations (a 4% increase on a same-store”

Barry S. Logan was appointed as Director at WATSCO INC.

“On February 19, 2024, the Board appointed Barry S. Logan as a director to fill Mr. Rubin’s vacancy on the Board.”

Steven (Slava) Rubin resigned as Director at WATSCO INC.

“On February 15, 2024, Steven (Slava) Rubin delivered notice of his resignation from the Board of Directors (the “ Board ”) of Watsco, Inc., a Florida corporation (the “ Company ”), effective March 10, 2024.”

WATSCO INC reported the quarter and year ended December 31, 2023 results: revenue $1.60 billion, EPS $2.06.

“fortified the quality of our balance sheet and once again provided our shareholders a meaningful dividend increase.” Fourth Quarter Results • 1% sales growth to a record $1.60 billion • Gross profit of $414 million (gross margin of 25.8%) • SG&A expenses increased 4% (SG&A was flat on a same-store basis) • Operating income of $108 million versus $137 million”

WATSCO INC reported financial results for quarter and nine months ended September 30, 2023.

“On October 19, 2023, Watsco, Inc., a Florida corporation (the “Company”), issued a press release reporting its financial results for the quarter and nine months ended September 30, 2023.”

WATSCO INC shareholders approved Non-binding advisory vote on the frequency of future advisory votes on executive compensation at the 2023-06-05 meeting.

“shareholders at the Company’s 2023 Annual Meeting of Shareholders held on June 5, 2023 voted, on a non-binding advisory basis, in favor of holding future advisory votes on compensation of the Company’s named executive officers every year”

WATSCO INC reported financial results for quarter and six months ended June 30, 2023.

“On August 1, 2023, Watsco, Inc., a Florida corporation (the “Company”), issued a press release reporting its financial results for the quarter and six months ended June 30, 2023.”

WATSCO INC shareholders approved Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the 2023 fiscal year at the 2023-06-05 meeting.

“Proposal 4. Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the 2023 fiscal year. The combined vote of the Company’s Common and Class B common stock was as follows: Votes For Votes Against Abstentions Broker Non-Votes 82,578,804 315,405 35,305 —”

WATSCO INC shareholders approved Approval of a non-binding advisory resolution on the frequency of the non-binding advisory resolution regarding the compensation of the Company’s named executive officers at the 2023-06-05 meeting.

“Proposal 3. Approval of a non-binding advisory resolution on the frequency of the non-binding advisory resolution regarding the compensation of the Company’s named executive officers. The combined vote of the Company’s Common and Class B common stock was as follows: One Year Two Years Three Years Abstentions Broker Non-Votes 80,271,469 133,262 219,777 19,992 2,285,014”

WATSCO INC shareholders approved Approval of a non-binding advisory resolution regarding the compensation of the Company’s named executive officers at the 2023-06-05 meeting.

“Proposal 2. Approval of a non-binding advisory resolution regarding the compensation of the Company’s named executive officers. The combined vote of the Company’s Common and Class B common stock was as follows: Votes For Votes Against Abstentions Broker Non-Votes 75,648,050 4,920,301 76,149 2,285,014”

WATSCO INC shareholders approved Election of one director to serve as a Common stock director by Common shareholders voting as a single class and election of two Class B Common stock directors by Class B Common shareholders voting as a single class at the 2023-06-05 meeting.

“Proposal 1. As set forth in the table that follows, (1) election of one director to serve as a Common stock director by Common shareholders voting as a single class and (2) election of two Class B Common stock directors by Class B Common shareholders voting as a single class: Nominee Term Expires Votes For Votes Withheld Broker Non-Votes Common Stock: Ana Lopez-Blazquez 2026 28,856,275 304,165 1,743,284 Class B Common Stock: Cesar L. Alvarez 2026 51,373,700 110,360 541,730 Denise Dickins 2026 51,373,500 110,560 541,730”

WATSCO INC engaged Deloitte & Touche LLP as its auditor.

“On May 5, 2023, the Company engaged Deloitte as its independent registered public accounting firm”

WATSCO INC engaged Deloitte & Touche LLP as its auditor.

“On April 18, 2023, the Audit Committee notified Deloitte & Touche LLP (“Deloitte”) that they had been appointed to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023”

WATSCO INC dismissed KPMG LLP as its auditor.

“On April 18, 2023, Watsco, Inc., a Florida corporation (the “Company”), dismissed KPMG LLP (“KPMG”) as its independent registered public accounting firm effective upon the filing of the Company’s Form 10-Q for the interim period ended March 31, 2023.”

WATSCO INC reported the quarter ended March 31, 2023 results: revenue $1.55 billion, EPS $2.83.

“First Quarter Results • 2% increase in sales to a record $1.55 billion • Gross profit of $448 million (28.9% gross margin) versus $450 million (29.6% gross margin) last year • 1% increase in SG&A expenses (10 basis-point improvement in SG&A as a percentage of sales) • 4% decrease in operating income to $165 million (operating margin of 10.6% versus 11.2% last year) • EPS of $2.83 versus $2.90 in 2022”

WATSCO INC incurred credit facility of $600,000,000 with syndicate of lenders, Bank of America, N.A. as Administrative Agent at Term SOFR or Daily Simple SOFR-based rates plus 0.10% plus a spread which ranges maturing five-year.

“On March 16, 2023 (the “ Closing Date ”), Watsco, Inc., a Florida corporation (the “ Company ”), Watsco Canada, Inc., a corporation organized under the laws of New Brunswick, Canada and a wholly owned subsidiary of the Company (“ Watsco Canada ”), Carrier Enterprise Mexico, S. de R.L. de C.V., a corporation organized under the laws of Mexico and an 80% owned subsidiary of the Company (“ Watsco Mexico ”) and certain of their respective subsidiaries (such subsidiaries, together with the Company, Watsco Canada and Watsco Mexico, the “ Borrowers ”), entered into an unsecured, five-year $600,000,000 syndicated multicurrency credit agreement (the “ New Credit Facility ”) with a syndicate of lenders (the “ Lenders ”), Bank of America, N.A. as Administrative Agent (in such capacity, the “ Administrative Agent ”), Swing Line Lender and L/C Issuer, JPMorgan Chase Bank, N.A. as Syndication Agent, and U.S. Bank National Association and Wells Fargo Bank, National Association as Co-Documentation Age”

WATSCO INC terminated Prior Credit Facility valued at $560,000,000 (effective 2023-03-16).

“The New Credit Facility replaces in its entirety the Company’s unsecured $560,000,000 revolving credit facility, entered into as of December 5, 2018 (the “ Prior Credit Facility ”). On the Closing Date, the Borrowers borrowed approximately $235,500,000 under the New Credit Facility, the proceeds of which were used to repay outstanding borrowings under the Prior Credit Facility.”

WATSCO INC entered into New Credit Facility with Bank of America, N.A., JPMorgan Chase Bank, N.A., U.S. Bank National Association, Wells Fargo Bank, National Association, and other lenders valued at $600,000,000 (effective 2023-03-16).

“On March 16, 2023 (the “ Closing Date ”), Watsco, Inc., a Florida corporation (the “ Company ”), Watsco Canada, Inc., a corporation organized under the laws of New Brunswick, Canada and a wholly owned subsidiary of the Company (“ Watsco Canada ”), Carrier Enterprise Mexico, S. de R.L. de C.V., a corporation organized under the laws of Mexico and an 80% owned subsidiary of the Company (“ Watsco Mexico ”) and certain of their respective subsidiaries (such subsidiaries, together with the Company, Watsco Canada and Watsco Mexico, the “ Borrowers ”), entered into an unsecured, five-year $600,000,000 syndicated multicurrency credit agreement (the “ New Credit Facility ”) with a syndicate of lenders (the “ Lenders ”)”

WATSCO INC reported the quarter ended December 31, 2022 results: revenue $1.58 billion, net income $138 million, EPS $3.55.

“Fourth Quarter Results • 76% increase in EPS to a record $3.55 (includes tax benefit of $1.20 per share from restricted stock vesting) • 16% increase in EPS to $2.35 on an adjusted, non-GAAP basis (excludes tax benefit) • 5% increase in sales to a record $1.58 billion • 5% increase in gross profit to a record $434 million (10 basis-point increase in gross margin to a record 27.4%) • 3% increase in SG&A expenses • 11% increase in operating income to a record $137 million (14% increase to $141 million on an adjusted basis) • 60 basis-point increase in operating margins to a record 8.7% (80 basis-point increase to 8.9% on an adjusted basis) • 75% increase in net income attributable to Watsco to $138 million (17% increase excluding tax benefit) • Record operating cash flow of $213 million”

Brian E. Keeley was appointed as Advisory Board Member at WATSCO INC.

“Mr. Keeley will join the Company’s Advisory Board effective April 15, 2022.”

Brian E. Keeley resigned as Director at WATSCO INC.

“On March 14, 2022, Brian E. Keeley delivered notice of his resignation from the Board of Directors (the “ Board ”) of Watsco, Inc., a Florida corporation (the “ Company ”) effective April 15, 2022.”

John Macdonald was appointed as Director at WATSCO INC.

“On October 11, 2021, the Board of Directors (the “ Board ”) of Watsco, Inc., a Florida corporation (the “ Company ”) appointed John Macdonald, 64, as a Common stock director and nominated Mr. Macdonald to stand for election at the Company’s 2022 annual shareholder meeting for a term to expire at the Company’s 2024 annual meeting of shareholders.”

George P. Sape resigned as Director at WATSCO INC.

“Mr. Macdonald replaces George P. Sape, who resigned from the Board on October 6, 2021.”