Company: DLX
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000027996-25-000107
Chunk: 2

Company: DELUXE CORP
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 2
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 our infrastructure and streamlining our business portfolio so we can operate with the

speed and agility required in the ever-evolving world of digital payments and data technology. With our house in order, we launched the North Star program to sharpen our financial focus—the plan was designed to more than double our cash flow run rate and improve our adjusted EBITDA. We made incredible strides toward these goals in 2024, and the program is on course to wrap up in 2025 and largely deliver the promised financial and operational results that we have outlined over the past year.

The board and I are incredibly proud of the progress made on our North Star goals, and our results in 2024 provide a tangible example of the promise this transformation holds. The financial highlights below, which are discussed more fully in the Proxy Statement, illustrate some of our progress:

• full year net income was $52.9 million, improving from $26.2 million in 2023, on cost management and lower restructuring spend;

• full year GAAP diluted EPS was $1.18 versus $0.59 in 2023; comparable adjusted diluted EPS improved 7.9% to $3.26;

• comparable adjusted EBITDA increased 3.9% to $406.5 million for the full year;

• 2024 cash provided by operating activity was $194.3 million; free cash flow increased 2.4% to $100.0 million; and

• total debt reduced by $89.8 million; net debt reduced by $52.2 million.

Of course, it’s not all about the financials, which is where the thousands of Deluxers come in. This team has rallied around our goals, finding new ways to work and adapt to the realities of the marketplace, and embodies our values every day. The board and I cannot express enough gratitude to these dedicated individuals for their passion and efforts.

#### Thank You
Again, thank you for your support of and investment in Deluxe. Please join our Annual Meeting of Shareholders on April 24, 2025. If you are unable to attend, please submit your vote in advance to ensure your shares are represented at the meeting. Your vote is important to us.

Sincerely,

| Cheryl Mayberry McKissack 
 Chair                     |

#### Notice of 2025 Annual Meeting of Shareholders
| Date and Time:         
 Virtual (Online Only): |     | Thursday, April 24, 2025, at 3:00 p.m. Central Day