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Stories Of Opportunity IN THIS ISSUE The Power Of One VGM Making A Difference I Belong At VGM

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Contents 04 Letters From The CEO & CPO 06 Innovating To Better Serve Our Customers & Patients 10 Two Rivers Marketing At 25 14 The Power Of One VGM 16 A Commitment To Safety 18 Making A Difference 22 I Belong At VGM 36 Welcoming Change 38 VGM Group Awards 39 Recognition

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Welcome To VGM Group’s 2025 Year In Review Letter From The CEO 2025 was a year of opportunity for VGM. Throughout the entire year, regardless of the challenges, VGM employee owners proved: We’re built for this. They proved that when we come together, we can accomplish almost anything. That’s what Team VGM is all about. Many of the stories you’ll read inside this report reflect this Team VGM mentality. From incorporating new ways of simplifying business processes to reinforcing VGM’s Health & Safety measures to securing a massive contract, success takes the entire team working together. VGM employee owners never cease to amaze me. All of us have a stake in our company, which means we have a vested interest in the success of our customers. That shows every single day. And it’s something you can’t find anywhere else. I truly hope you enjoy this small sample of stories about the VGM employee owners and teams who Welcomed Change and Owned Their Ownership this past year. Whether you’re already a VGM employee owner, thinking of becoming one, or just interested in who we are and what we do, I’m glad you’re here. Thank you, Jeremy Stolz, CEO

Letter From The CPO You Belong At VGM. It’s a phrase you’ll often see coming out of VGM Group. And one that really has two meanings. The first is about opportunity. There really is something for everyone here, whether you’re looking for your first job or you’re an industry veteran. And as a 100% employee-owned company, VGM invests in making sure every employee owner has an equal opportunity to learn, to develop, and to Create Their Future. The second is more personal. It’s that communal sense of belonging. One statistic from our recent employee engagement survey that stands out and means the most to me, is the 86% Inclusion Score. Seeing a score like this means we’re doing right by employee owners. Our employee owners are VGM. And we all have the opportunity to make our place of work more than just a place to work. But a place where you belong. I’m incredibly proud of the company we’re building together. In this report, you’ll read stories of how we’re Making A Difference for VGM, our communities, and each other. And I hope you enjoy them as much as I do. Thank you, Sara Laures, Chief People Officer

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Innovating To Better Serve Our Customers & Patients HOMELINK is one of VGM’s largest business units with nearly 700 employee owners. The work Patient Care Coordinators (PCCs) do there requires many touch points and ultimately impacts more than 30 million patients each year. That’s why HOMELINK constantly invests in new and more efficient ways to serve their customers and ensure every patient receives the highest quality of care.

Contact Engine Previously, many touchpoints in a HOMELINK order involved making calls to confirm service completion, appointment scheduling, and various other follow-ups. These touchpoints are important, but time-consuming. That’s time that could have been spent coordinating care for an injured worker or patient. Contact Engine is an AI tool that automates many of these follow-up touchpoints by sending text communication, such as appointment details. With help from VGM Corp IT, Contact Engine was developed and integrated into HOMELINK’s order management system. HOMELINK saw a decrease in patient no-shows and an increase in PCC output across all lines of service. It’s no wonder HOMELINK’s Contact Engine team were the winners of the 2024 Cheer Each Other On Award.

Supply Sourcing Checking for the best rate is time consuming. Previously, PCCs would need to go through multiple supply companies manually to find the best rates. Partnering with a new supply program changed all of that. Now, PCCs are able to order the supplies needed directly from the customized e-procurement platform, which systematically checks for the best rates for each individual item and places the order, allowing PCCs to spend more time where they can make the most impact.

Auto-create Referral Program This past year, HOMELINK’s IT team began rolling out Auto-create Intake, which can take orders submitted digitally and enter them automatically so they can be staffed. This significantly reduced the number of manual entries needed. And it allows the intake team to focus on the orders received over the phone, which accounts for over half of all orders.

HOMELINK CONSTANTLY INVESTS IN NEW AND MORE EFFICIENT WAYS TO SERVE THEIR CUSTOMERS AND ENSURE EVERY PATIENT RECEIVES THE HIGHEST QUALITY OF CARE. Table Of Contents →

New Provider Portal On top of the many calls HOMELINK receives from patients or adjusters, they also hear from providers checking the status of payment. HOMELINK had a provider portal for this, but there was room for improvement. They collaborated with Lean TECHniques, a program development partner based in Des Moines, Iowa. And the result was a new portal with a seamless and intuitive interface that greatly improved efficiency and satisfaction. The project made such an impact, it was nominated for the Outstanding UX/CX Achievement at the 2025 Technology Association of Iowa Prometheus Awards.

ScreenPop AI There’s a common phrase in HOMELINK, “If it isn’t in the notes, it didn’t happen.” While emails could be copied over, phone calls needed to be typed out manually. This can be a time-consuming process, especially if a PCC needs to relisten to a call to ensure important details weren’t missed. ScreenPop, a program created by VGM’s Corporate IT team, automatically transcribes incoming or outgoing calls: a perfect fit for HOMELINK’s needs. Now, when a call is made or received, a pop-up appears and begins transcribing the entire call, even adding extra details like which order number the call is related to before automatically updating the notes.

WE’VE ALREADY SEEN INCREDIBLE IMPROVEMENTS ACROSS ALL SERVICE LINES. AUTOMATING OR STREAMLINING THESE PROCESSES HAS ALLOWED EVERYONE FROM OUTBOUND AND INBOUND TO FOCUS THEIR PRIORITIES— LEADING TO INCREASED OUTPUT AND OVERALL PATIENT SATISFACTION. Monica Rogan, HOMELINK Chief Operating Officer, Employee Owner Since 2010

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Two Rivers Marketing At 2025 brought a handful of milestones for Two Rivers Marketing (2RM), including celebrating their 25th anniversary. In those 25 years, 2RM has continuously evolved—both to meet the needs of their customers and the changing landscape of expectations.

A New Home One of the largest changes in 2025 was 2RM’s move to a new office space. After nearly two decades in a 55,000-square-foot warehouse, the agency sought a location that better reflected its modern, collaborative culture. “It was a very large warehouse,” said Brad Olson, 2RM President, employee owner since 2001. “It was too much space and didn’t reflect the lively environment we had with our team. The new space is more engaging and creative, and better encourages collaboration.” Wanting to stay in the East Village of Des Moines, 2RM found new space within four blocks of their previous building. Built in 1900, 2RM’s new location offered the perfect blend of character and functionality. After a complete renovation, their new 22,000-squarefoot office features 17 conference rooms, flexible seating areas, and modern technology. And there are plans to dedicate the third floor as a shared space for all VGM employees either who work in the Des Moines area or are visiting.

We’ve made the leap to 430 East Grand! Scan or click here to view.

Refreshing The Brand With a new office came another significant update: a brand refresh. This wasn’t just a visual refresh—it was a strategic shift in how 2RM communicates its value. Nathan Huss, Vice President of Business Strategy, employee owner since 2009, spearheaded the effort after noticing industry trends and client expectations evolving. “Clients are under pressure to achieve business outcomes,” said Nathan. “We wanted to position ourselves as a partner that integrates marketing and sales to drive results.” The refresh included a modernized color palette and updated design elements. But the essence of the rebrand lies in language and strategy. 2RM now frames its

solutions around delivering measurable value, helping clients navigate the full buyer journey, and integrate sales channels effectively. This approach has already opened doors to new business opportunities and positioned the agency for growth in 2026 and beyond. The rebrand also reflects a cultural shift within the agency. By aligning creative execution with strategic thinking, 2RM is redefining what it means to be a marketing partner. The changes have resonated with clients, leading to new conversations and expanded partnerships in industries where 2RM previously had little to no presence.

WE’VE LOOKED AT 2025 AS A LAUNCHING PAD FOR OUR FUTURE. OUR TEAM IS OUR NUMBER ONE ASSET, AND COLLABORATION IS THE UNDERPINNING OF OUR SUCCESS. Brad Olson, 2RM President, Employee Owner Since 2001 Table Of Contents →

As part of its evolution, 2RM redefined its strategic values—internally known as “superpowers.” These four pillars represent the agency’s strengths: • Full-funnel strategy to guide clients through the buyer journey. • Market strategy for positioning and growth. • Content marketing and strategy that goes beyond tactics to deliver meaningful messaging. • Sales channel integration to help clients go to market effectively. These values anchor a three-year strategic plan, started in 2024, focused on five strategic growth opportunities:

Financial

Employees

Be a profitable and growing financial contributor to the success of VGM and the ESOP.

Achieve measurable and sustainable growth for 2RM and it’s employee owners.

Community

Collaborative Working Model

Strengthen the industry and community engagement.

Customer Experience Focus

Future Reimagine 2RM for future viability and vitality.

2RM HAS ALWAYS BEEN FOCUSED ON THE HUMAN SIDE OF THE BUSINESS. Nathan Huss, Vice President of Business Strategy, 2RM, Employee Owner Since 2009

Proactive Growth Mindset

Growth Grow and optimize the new business engine.

Celebrating 25 Years When 2RM reached its 25th anniversary, the milestone was more than a celebration of longevity—it was a reflection on transformation and growth over its two-and-a-half decades. Nathan, who joined 2RM in 2009 during the height of the financial recession, joined when 2RM had only 35 employees. “I was the only person hired that year,” said Nathan. “I’ve been able to see it go from a small agency (almost like a startup) to where it is now with over 180 employees. But throughout that time, 2RM has always been focused on the human side of the business. So many other businesses are run by the business they have—that’s a trend 2RM doesn’t emulate.”

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“We’ve reinvented ourselves,” said Brad. “Even before becoming employee-owned, we had an entrepreneurial mindset. We’ve stayed focused on our core industries and reflected on the great employees, current and past, who helped us succeed.” With employee ownership at its core and a culture built on collaboration, 2RM is poised to meet the challenges ahead, including the growing influence of AI, while continuing to deliver value for clients and employee owners alike.

The Power Of One VGM When one of VGM Fulfillment’s largest partners faced a critical decision on whether or not to re-sign with VGM, the stakes were high. Retaining this key customer was essential, not just for Fulfillment but for the entire company. What followed was a story of discipline, creativity, and collaboration that showcased VGM’s commitment to partnership and proved why our teams are the best at what they do.

Operating As One “We’ve really worked to approach things in a methodical fashion,” said Sarah Conger, VP of Business Operations with VGM Fulfillment, employee owner since 2011. “When we go back to our customers, we show up in a good way, speak with one voice, and deliver consistent messaging.” Having this mindset and way of doing business set Fulfillment up for success. Every team member understood the overall goal and knew what they needed to do to achieve it. This ensured challenges were met with confidence and clarity. Alongside this operational focus was a clear differentiation strategy. Fulfillment didn’t aim to be the cheapest option; it aimed to be the best partner. As VGM Fulfillment President Pete Martin often says, “We compete on price, but we differentiate ourselves on service.”

Tailoring Service When a customer approaches VGM with a problem, the mindset is “How can we solve this?” It’s this thinking that led to the development of VGM Total Sleep Services, offering solutions to patients at any stage of their sleep journey. All business units at VGM aim to meet the customers where they are and strengthen the relationship. Fulfillment, with this key customer, tailored many services to them, including specialized repair programs and even acquiring a national warehouse specifically for this customer to strengthen operational alignment. “When it comes down to it, we’re not just a resupply partner,” said Sarah. “Fulfillment and all of VGM offers a total package of solutions that we tailor for you. Why go anywhere else?”

FULFILLMENT AND ALL OF VGM OFFERS A TOTAL PACKAGE OF SOLUTIONS THAT WE TAILOR FOR YOU. WHY GO ANYWHERE ELSE? Sarah Conger, VP of Business Operations, VGM Fulfillment, Employee Owner Since 2011 14

LESS THAN 2% BACK ORDER RATES 99.18% ORDER FILL RATE 99.85% ORDER ACCURACY RATE

A Win For VGM The relationship between VGM and this key customer was built over decades. So, when there was a possibility that this relationship could end, VGM set out to share that story of collaboration. “Within the last few years, this customer had a handful of leadership changes,” said Sarah. “So when that possibility of them not re-signing came to us…I don’t think they understood not just the history we had with them, but how much we actually do for them.” It was important when putting together the request for proposal (RFP), that VGM had to make it count. It was a cross-company effort to make sure what was presented resonated with the customer, and proved that VGM was the right choice. Months of effort and hundreds of hours paid off. In October 2025, VGM received word that the client intended to not only re-sign with VGM, but for a 3-year contract for VGM’s services. “It was an incredible win for VGM,” said Pete. “The effort put in by nearly every business unit at VGM just shows that we all had a stake in this. That’s the power of one VGM. That’s the meaning of true employee ownership.”

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A Commitment To Safety Throughout 2025, VGM enhanced its commitment to safety across the board. From relocating a Fulfillment warehouse to implementing a new incident report system to creating the Director of Safety role, VGM continues to bring employee safety and well-being to the forefront.

Director Of Safety This year, Kelsi Gerholdt, employee owner since 2016, took on the newly created role of Director of Safety. This new role allowed her to take a company-wide approach and spearhead initiatives to transform VGM’s safety culture. Kelsi took a holistic approach to risk management, participating in VGM’s Insurance Captive Committee and driving corporatewide improvements. Some of her new responsibilities included partnering with local workers’ compensation providers for the Fulfillment warehouses to enhance return-to-work experiences, establishing safety champions and emergency response teams, and leading critical training programs such as first aid, CPR, AED, and active shooter preparedness.

OSHA Reports Down “A huge thing with getting those numbers down was getting out to the warehouses and shifting the culture to focus on safety,” Kelsi said. “Safety first—whether it’s shipping an order or restructuring the warehouse.” The improvement stemmed from a comprehensive approach that included warehouse assessments, gap analyses, and targeted education. Leaders reinforced the safety culture through team training, ensuring it was part of everyday operations. And a new hire checklist was introduced, requiring Fulfillment-specific training courses be completed before employees entered the floor.

33% DECREASE IN OSHA REPORTS FROM 2024 TO 2025

32% DECREASE IN REPORTABLE OSHA RATES FROM 2024 TO 2025

New Incident Reporting System A new incident reporting system was also launched. The system tracks all incidents and hazards at a corporate level, enabling safety measures to be proactive rather than reactive. This improvement allowed VGM to identify highrisk areas and implement targeted solutions quickly. “With this system, there’s no guesswork,” Kelsi said. “It provides standardized reporting and oversight at all levels. Leaders at every location now have insight, and the data helps us prevent similar incidents from happening again.”

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New Nashville Location In 2025, Fulfillment officially opened its new Nashville warehouse. The new site was chosen with safety in mind from the start, incorporating input from employees and collaboration across departments. The result was a modern, organized space where safety standards were integrated into every aspect of the layout. “We couldn’t have been more excited to move into our new facility,” said Pete Martin, VGM Fulfillment President, employee owner since 2023. “We always keep two key groups in mind whenever we make a decision: our customers and our employee owners. This new warehouse is a space our employee owners can be proud of, where they can do their best work, and provide the best possible service to our customers. It truly is a win-win.”

Making A Difference: For Each Other And Our Communities The VGM Family Fund We all face hardship at some point in our lives. Despite how well we prepare or how much caution we take, when it hits, it hits hard. In those times of need, employee owners are always there to lend a hand. The VGM Family Fund is one of those ways, funded by employee owners for employee owners. Each employee owner’s story is unique as are their situations and reasonings for seeking help from the Family Fund.

An Unexpected Diagnosis Megan Phillips, Customer Contact Specialist at HOMELINK and employee owner since 2021, had a follow-up appointment after a stint with cancer. And while she was initially given the all-clear prior, this follow-up showed there was a mass previously unnoticed and a biopsy was needed. Even though Megan had health insurance, the cost for the biopsy was going to be $700 out of pocket, a figure that she couldn’t come up with. While figuring out what she was going to do, it was actually her husband’s idea to reach out to the Family Fund. He knew about the program even though he didn’t even work for VGM. Megan had some initial hesitation, feeling so many others could use the funds. After discussing with her husband, she finally applied. Megan was approved within a day. “Once I was notified that I had been approved, I cried. And I’m not that emotional of a person,” said Megan. “No one should discount what they’re going through— you’re the only one that can speak for you. Working for a company with this many people doing this much good for others…it just warms my heart.”

VGM FAMILY FUND SURPASSES

A Way Home In June 2025, Kaylee Micu, Customer Service Representative at Strategic Imaging and employee owner since 2024, was driving home when a deer jumped out into the road. Luckily, Kaylee had minor injuries, but her car was completely totaled. She wasn’t sure what she was going to do since it wasn’t feasible to buy a new or used car.

WORKING FOR A COMPANY WITH THIS MANY PEOPLE DOING THIS MUCH GOOD FOR OTHERS…IT JUST WARMS MY HEART. Megan Phillips, Customer Contact Specialist, HOMELINK, Employee Owner Since 2021 Table Of Contents →

Kaylee knew about the Family Fund (she even contributes to it!), but there was some initial hesitation as she wasn’t usually one to ask for help. However, there came a moment when she realized that this was what the fund was for: to help employee owners when they need it. She filled out the necessary application and was approved within 24 hours. And she received the funds within two days, which went to the down payment for her new car. “I’m not used to being a part of a company that helps employees like this with no strings attached,” said Kaylee. “This is a phenomenal program, and this kind of help and relief is invaluable.” 19

Volunteering For The Community Employee owners consistently Provide Meaningful, Memorable Service each day for patients, partners, and providers. And they don’t stop there, extending that service to the communities they call home.

Jenny Hughes, HOMELINK

Brynn Prier, VGM & Associates

For Jenny Hughes, Marketing and Communications Director for HOMELINK and employee owner since 2014, volunteering has always been second nature.

From a young age, Brynn Prier, Analytics Team Lead with VGM & Associates and employee owner since 2020, always had the passion for giving back. But it really started to take shape when she got involved with Dance Marathon her freshman year at the University of Northern Iowa (UNI). In her senior year, she helped raise $500,000, later matched by an anonymous donor.

“It’s harder not to volunteer than to volunteer,” Jenny said. “It’s not that I have to help,” Jenny said. “It’s that I get to.” As a college student at UNI, she participated as a conversation partner in the Culture & Intensive English Program, helping foreign exchange students acclimate to the English language and American culture. She also helped to establish the nonprofit volunteer marketing group, Absolutely Indee, a city-wide initiative to help bring more visitors to the Independence, Iowa, area. One of the most rewarding projects Jenny worked on was the bond referendum campaign to construct a new Independence high school, which successfully passed. For 11 years, Jenny has volunteered to lead the marketing efforts for the annual Independence BrewBQ, a one-day craft beer and BBQ festival, which also includes a bike ride through Buchanan County. Since 2019, BrewBQ has been able to donate nearly $100,000 to various charities. 2025 was the final BrewBQ event, raising $10,000 for Otter Creek Animal Shelter.

Brynn started finding ways to Make A Difference the second she joined Team VGM. She joined the Community Giving Committee and went on to lead the Family Fund Fundraising Committee. One of the hit fundraising events Brynn brought to the Family Fund was Pizza, Puzzles, & Pints, which in 2025 raised nearly $10,000. Pizza, Puzzles, & Pints was such a hit initially, that Brynn brought the event to other nonprofit organizations she volunteered for, including House of Hope and Let’s Start Talking. “The roles I play to Make A Difference… you usually can’t see that impact,” said Brynn. “Just knowing I’ve done my part to make an impact on someone, on a family, on a community—that’s enough to fill my cup.”

Be The Change On Valentine’s Day, the VGM Community Giving Committee announced VGM’s 2025 Be The Change Partners for the year. The committee vets various nonprofits located in communities across the U.S. that our more than 1,600 employee owners call home. These three organizations make a PAWsitive impact for families and their pets in their communities. • $5,000 – New Leash On Life, Greater Nashville Area, Tennessee • $7,500 – Animal Rescue League Of Iowa, Des Moines, Iowa • $25,000 – Cedar Bend Humane Society, Cedar Valley Area, Iowa

We Own This Place During the 2025 Be The Change announcement, CEO Jeremy Stolz also announced that VGM officially owns its headquarters in Waterloo, Iowa.

WE NOW TRULY OWN THIS PLACE, AND THERE’S PRIDE THAT COMES WITH THAT. Christa Miehe, President of Corporate Communications, Employee Owner Since 2002

To celebrate this new level of ownership, VGM held a day of service during Employee Ownership Month in October to beautify its buildings and surrounding communities throughout the U.S. and Canada. “We now truly own this place, and there’s pride that comes with that,” said Christa Miehe, President of Corporate Communications for VGM Group and employee owner since 2002. “We had more than 600 employee owners take time to help with service day. This shows their dedication to making their place of work more than just a place to work.” Table Of Contents →

I Belong At VGM As a 100% employee-owned company, VGM has a vested interest in its employee owners: from their well-being to their growth and development, all the way to their sense of belonging.

Creating My Future Shanon Eckhardt, Corporate Projects Shanon has had quite the journey in her 14 years at VGM. Now VP of Corporate Projects, Shanon was initially brought to VGM through a temp agency in 2011. She started as a Patient Care Coordinator (PCC) and went on to hold several leadership positions throughout HOMELINK, including VP of Work Development in 2022. “I don’t think I turned any role down,” said Shanon. “There were so many proposals out and I went where I was needed.” The jump to her current role felt like a natural step to Shanon. During her time in HOMELINK, she had taken on numerous projects that didn’t necessarily fit under a single team. Her Corporate Projects role mirrors that experience, but at a much larger scale.

IF YOU LOOK AROUND VGM YOU WILL FIND SO MANY INDIVIDUALS IN ROLES OUTSIDE THEIR BACKGROUND. IT SHOWS HOW INVESTED VGM IS IN HELPING EMPLOYEE OWNERS GROW AND DEVELOP. 22

Shanon Eckhardt, VP of Corporate Projects, Employee Owner Since 2011

LEAD WHERE YOU ARE— FIND SOMETHING YOU CAN MOVE FORWARD AND MAKE AN IMPRESSION. THEN OPPORTUNITIES WILL FIND THEIR WAY TO YOU. Darian Schmit, Director of Operations, Employee Owner Since 2019

Jamie Schmitz, VGM Insurance For Jamie, Creating Her Future meant embracing opportunities to learn and grow. She began as a claims administrator in VGM Insurance in 2014, utilizing her background as a legal assistant. Ultimately, she wanted to become a claims adjuster, and once that opportunity came, Jamie jumped at the chance. Jamie’s willingness to ask questions and learn new skills gave her a comprehensive understanding of the business. And though she’d never imagined herself as a leader, she was positioned for leadership. Today, she serves as Director of Claims Management. “What I love about VGM is that you can build professional relationships here,” said Jamie. “At other places, you get a claim and the moment it’s done, you never hear from those people again. But here, you can build relationships and develop an understanding of them and their business. Claimants will even reach out to me directly when another claim arises. That’s rewarding, knowing that they trust me enough to reach out directly.” Her advice for others is simple: Lean in. Get involved, admit what you don’t know, and stay humble and curious.

Darian Schmit, HOMELINK Darian has a plaque on her desk that reads, “Never Stop Learning,” a fitting motto. Darian joined VGM in 2019 with a background in teaching. Though her eyes were set on the training team, Darian started as a PCC for HOMELINK. By February 2020, she was offered a lead position in another HOMELINK team, then promoted to Manager less than a year later. “Everything was happening so fast,” said Darian. “I spent the pandemic learning how to be a lead and then the manager position opened. I thought, ‘Why not apply?’ I love the team, and I knew I could push myself to learn more.” Opportunity knocked again while she was on maternity leave in 2022. A Director of Operations position opened up, and Darian received a direct call to see if she was interested. She has held the role ever since. But Darian notes: These opportunities were only possible thanks to the support of her leadership. “Lead where you are—find something you can move forward and make an impression. Then opportunities will find their way to you.” Table Of Contents →

Congratulations 2025 ELP Graduates The Emerging Leaders Program (ELP) is an internal leadership development initiative designed for new and mid-level leaders at VGM. The program focuses on building leadership skills from a holistic perspective, helping participants understand their leadership style, strengthen decision-making, and learn how to positively impact their teams and the broader collaborative culture at VGM. It’s one of the many ways VGM invests in its employee owners who help shape the company and its future.

Cedar Valley Leadership Institute Cedar Valley Leadership Institute (CVLI), organized by Grow Cedar Valley, is a leadership development program that brings together approximately 40 community leaders from multiple businesses across the Cedar Valley. The program builds community awareness while developing individual skills, giving leaders a broader view of civic leadership. VGM’s 2025-2026 participants are: Madison Buzynski, Cara Hintz, Matt Crisman, Lauren Crawford, Allie Parker. Feedback from both VGM employees and others in the community has been overwhelmingly positive, highlighting opportunities to build connections beyond the workplace, gain insight into what sustains a thriving community, and understand how leadership extends beyond daily responsibilities.

At VGM, our people are our most important asset. Developing our employee owners and the next generation of leaders is critical to our business. And one of the best investments we can make in our company, is an investment in our people. Brooke Kraft, VP of Talent Management, VGM Group, Employee Owner Since 2016

Leadership Iowa

I’ve been able to do so many great things at VGM, including opportunities like Leadership Iowa. Any time I’ve wanted to explore an opportunity, VGM has offered nothing but support and encouragement. Not every organization does that. Julie Heuton, VP of People, Talent, and Culture, 2RM, Employee Owner Since 2002

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Leadership Iowa connects 40 leaders from across the state and from different companies serving a variety of industries. Julie Heuton, VP of People, Talent, and Culture at Two Rivers Marketing, employee owner since 2002, was hesitant to apply at first. But other executive leaders at VGM who had participated in the program encouraged her to go for it. Throughout their year with the program, participants meet in Iowa communities each month for two-day sessions exploring key issues that shape the state. These experiences allow participants to move beyond their own expertise and gain insights that inform Iowa’s decisions and the state’s future.

Well-being At VGM In 2025, VGM introduced Total Employee Owner Well-being, an initiative to promote all facets of well-being. It’s one more way VGM and its employee owners aim to make their place of work more than a place to work.

Connie Peirce, HOMELINK Connie, Billing Representative with HOMELINK and employee owner since 2000, started experiencing health issues during the 10 years she was caring for her parents. She was diagnosed with lymphedema and Type 2 diabetes. And shortly after her mom passed, Connie was diagnosed with stage 1 endometrial cancer. She started taking better care of herself, and while she lost some weight, the pain from her lymphedema was unbearable. She knew she needed to make a change. Connie shared her story with Cara Hintz, Wellness Partner with Human Capital and employee owner since 2024. Cara suggested Gentle Gym in Cedar Falls, which offered physical therapy supervision, compression leg therapy, a swimming pool, and even infrared saunas. Connie was sold. For the first few months, she focused on compression and pool therapy. Within a week, she was walking without pain, then worked her way up to jogging on the water treadmill. Today, Connie is down 129 pounds, off all her blood pressure medications, and her A1C and blood sugar levels are now in normal range. “Don’t stop believing in yourself,” Connie said. “It’s never too late to put yourself first. Whatever you think isn’t possible IS possible—this is your story to write how you see fit!” 26

IT’S NEVER TOO LATE TO PUT YOURSELF FIRST. WHATEVER YOU THINK ISN’T POSSIBLE IS POSSIBLE—THIS IS YOUR STORY TO WRITE HOW YOU SEE FIT! Connie Peirce, HOMELINK Billing Representative, Employee Owner Since 2000

Raquel Ita, VGM Fulfillment Vitality can mean something different for everyone. For Raquel Ita, Director of Operational Excellence in VGM Fulfillment and employee owner since 2017, it meant “showing up with intention, creating space for growth, and building habits that support the life and leadership we want to live out loud.” It was a series of small realizations, not one moment, that led her to focus on vitality. Having two young kids, Raquel cherishes the moments of “quiet time” she gets, typically early in the morning. Raquel uses this time to focus on her goals and reset her mind. This has been a game changer for her. To stay focused, Raquel built a structure that supports her energy, breaking goals into smaller steps. Raquel also makes a point to stay connected with people who both encourage and challenge her.

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“Vitality isn’t a solo mission—it’s something we build together,” said Raquel. Raquel lives outside the Cedar Valley, but she stays connected with her team and coworkers across the company through daily check-ins and virtual chats. And when she does visit VGM Headquarters, she makes the most of it, planning ahead and limiting her meetings so she can reconnect with VGMers.

VITALITY ISN’T A SOLO MISSION—IT’S SOMETHING WE BUILD TOGETHER. Raquel Ita, Director of Operational Excellence, VGM Fulfillment, Employee Owner Since 2017

Cheer Each Other On Diversity, Equity, & Inclusion Brenda Abarca joined VGM’s Diversity, Equity, & Inclusion (DEI) Committee shortly after starting with the company. For Brenda, joining the committee was an opportunity to support meaningful change and deepen her understanding of VGM’s culture. One of VGM’s guiding principles, “Cheer Each Other On,” resonates strongly with Brenda, and she strives to embody it daily. She makes a point to greet colleagues warmly, especially new employees, and often reaches out personally to help them feel welcome. Brenda believes these small gestures reflect VGM’s commitment to treating people as individuals and fostering a workplace where everyone feels valued and included. Brenda is proud to work for a company that continues to prioritize DEI, even as many organizations scale back such efforts. At a time when many organizations were scaling back or eliminating DEI programs, it was truly inspiring to hear both our CEO, Jeremy Stolz, and CPO, Sara Laures, affirm VGM’s strong commitment to diversity, equity, and inclusion. Their words remind us that DEI is not just a checkbox; it’s a core value that shapes our culture and drives our success. I’m proud to work for a company that recognizes the importance of inclusion and continues to lead with these principles at the forefront. Emily Ovel, Benefits and Wellness Coordinator, VGM Group, Employee Owner Since 2024

Cheering Each Other On In The Warehouse Damon Caple, Specialty Picker, VGM Fulfillment, BNA, Employee Owner Since 2018

Sandy Aquino, Specialty Picker, VGM Fulfillment, PHX, Employee Owner Since 2025

“Damon truly exemplifies our core value of Cheer Each Other On. At the start of each month, Damon is among the first to participate in the Ultimate Teammate nominations, recognizing and uplifting fellow coworkers.

“The upbeat and welcoming voice that echoes across the warehouse belongs to Sandy Aquino. At PHX, everyone knows when Sandy has arrived—her warm greetings and genuine interest in how teammates are doing set the tone for the day.

Beyond that, Damon embraces allyship in meaningful ways, such as making the effort to speak Spanish with teammates, which creates a sense of inclusion and appreciation. Their positive attitude during challenging times and commitment to supporting others make a real difference in our workplace culture. We’re proud to have Damon as part of the BNA team!” Cyntia McGann, BNA HR Generalist, VGM Fulfillment, Employee Owner Since 2025

This enthusiasm extends beyond daily operations. Sandy’s leadership and team spirit shine through in PHX’s participation in VGM events. Her positivity is matched by her performance. Sandy consistently averages three Ultimate Teammate nominations each month and submits around five monthly nominations cheering others on. She recently earned the Ultimate Team Member Award for Q3—a testament to her dedication and impact. PHX is proud to have Sandy Aquino on our team. Her ability to inspire, motivate, and deliver excellence makes her an invaluable part of our success.” Mirna Mendoza, PHX HR Generalist, VGM Fulfillment, Employee Owner Since 2024

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Stories From The Child Care Center

le A Schedu ks That Wor

“The convenience of having the child care center right in the building just can’t be matched with anything else,” said Matt Flaherty, Regional Account Manager for VGM & Associates and employee owner since 2010. Hayes is the 2-year-old son of Matt and his fiancée Sarah, and Hayes has been enrolled in the VGM child care center since October 2024. “I understood the struggle that many parents have gone through trying to find care for their kids,” said Matt. “Having the VGM child care center is really a blessing not just for me, but for all employee owners who may have struggled otherwise to secure child care.” And, probably the biggest perk, is that Matt is not too far away from Hayes—just a quick walk down a few flights of stairs. “It’s great getting to look outside and see Hayes play with the other kids on the playground, and that’s worth its weight in gold,” said Matt. “And if I need to go check on him for any reason, he’s just 50 feet away.”

HAVING THE VGM CHILD CARE CENTER IS REALLY A BLESSING NOT JUST FOR ME, BUT FOR ALL EMPLOYEE OWNERS WHO MAY HAVE STRUGGLED OTHERWISE TO SECURE CHILD CARE. Matt Flaherty, Regional Account Manager, VGM & Associates, Employee Owner Since 2010 30

Aunt n A g n i e B

andy Comes In H In early 2024, the VGM Child Care Center expanded its eligibility to include employee owners who were grandparents, aunts, or uncles. It was good timing for JaCynda Willingham, Patient Care Coordinator with HOMELINK and employee owner since 2022. JaCynda’s sister, Amber, and Amber’s wife Andrea had two boys, Brayden and Crew, in need of child care. Knowing that her sister was weighing options, JaCynda reached out to her about this opportunity. “She was immediately open to the idea,” said JaCynda. “And once I let her know about the rates, she was on board.” Above all else, JaCynda is glad she was able to help out her family.

Time For Bonding

“The day care is such a great benefit for employee owners and their families,” said JaCynda. “And what makes me happy is how inclusive VGM is considering my sister and her wife are LGBTQ. I’m beyond grateful that I work for such a diverse and accepting company, and that we have perks like the child care center that impact our extended families.”

When VGM announced it would be opening a child care center, Haley Dahl, Customer Experience Lead with VGM Insurance and employee owner since 2019, was excited to register her son Leo. However, while waiting, Haley was diagnosed with thyroid cancer. Treatment required routine trips to Iowa City, lasting the majority of the day: all time she couldn’t spend with Leo. “I just missed him so much,” said Haley. “I knew once I got through all of this and the child care center opened, I’d want him there to be with him as much as I could. And on top of all of this, VGM was incredibly supportive. I don’t think if I worked elsewhere that I would’ve felt as much love as I do here.” Fortunately, Haley was able to overcome her cancer diagnosis. And when the child care center opened, Haley and Leo quickly made bonds there. Haley got involved by volunteering her time. And Leo made friends and learned a lot, including shapes, colors, the alphabet, and even potty training. “They teach the kids so much,” said Haley. “We don’t even call it day care; we call it school.” Table Of Contents →

Life-changing Wealth Lori Stewart As an employee owner since 2008, Lori Stewart was there at the start of VGM’s 100% employeeowned status. In that time, Lori had witnessed the many changes within VGM. But through it all, Lori loved the place she worked. “This place is like a second family to me,” said Lori. Lori, after 27 years, decided it was time to retire in October 2025, and it was the ESOP she said allowed her to do so. “The ESOP was a life-changer,” said Lori. “It’s like a life savings on a whole other level. We were able to buy an RV and have plans to travel. I don’t think any of this would’ve been possible at this point had it not been for the ESOP.”

“Being in the ESOP allowed me to retire two years sooner than if I hadn’t been an employee owner,” said Jason. “I’ve been able to take the time to do things for myself, like visiting my college kids on a random weekday.”

Jason Fort

That really is what’s at the core of VGM’s ESOP: The ability to accumulate life-changing wealth that allows you to live the life you envision once you start that next chapter.

One perk that many may not know about VGM is the option to retire early if you feel you’re financially comfortable to do so. That’s the route Jason Fort, employee owner since 2015, took in September 2025.

“The ESOP is a game changer for those who want to retire early and enjoy the things that are most important to them,” said Jason. “As a VGM employee, just stay with it and work hard for yourself. In the end, the reward is immeasurable.”

Coming Home Life-changing wealth doesn’t always necessarily mean something monetary. Sometimes it’s the wealth of camaraderie. Megan Joachim was an employee owner with VGM for nearly a decade before opportunity arose elsewhere. While she knew she was going to miss everyone at VGM, it was an opportunity that she couldn’t pass up. Within a short time, however, Megan began feeling a disconnect at her new place of employment. It seemed like decisions were being made top-down rather than collaborative. “Employee ownership was so unique at VGM,” said Megan. “I decided to ask my new job about what employee ownership would look like there, and they basically said that I would have to front the money for stock in the company, which VGM didn’t require.”

“I just missed being in person, having a homebase to come back to,” said Megan. “At VGM, I feel like they care about who I am inside and outside of work. We have those perks like the ESOP and employee assistance programs…they’re setting me and my family up for success.”

AT VGM, I FEEL LIKE THEY CARE ABOUT WHO I AM AT WORK AND OUTSIDE OF WORK. Megan Joachim, Director of Customer Experience, VGM Fulfillment, Employee Owner Since 2023

While Megan thought her new company was amazing, it just didn’t feel like home. So, in 2023, Megan returned to VGM.

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Retirees In 2025

Lucy Choplin Corporate Accounting May 15

Sue Peterson Corporate IT Oct. 31

Amy Juel VGM & Associates Dec. 31

Amy Brocka VGM Insurance July 3

Danny Higgins HOMELINK Oct. 31

Kevin Mishler Facilities Dec. 31

Sherry Buck HOMELINK July 11

Marta Bailey HOMELINK Dec. 10

James McCann Facilities Dec. 31

Linda Homewood HOMELINK Sept. 12

Monique Ma Corporate IT Dec. 31

Greg Glick Corporate IT Dec. 31

Jason Fort Strategic Imaging Sept. 30

Kathy Moore Corporate Accounting Dec. 31

Joleen Pietro HOMELINK Dec. 31

Lori Stewart VGM & Associates Oct. 1

Renita Wright HOMELINK Dec. 31

Tracey Fischels HOMELINK Dec. 31

Steve Cranna VGM Canada Oct. 1

Ginger Rasmussen VGM Insurance Dec. 31

Michelle Anderson HOMELINK Dec. 31

2025 Employee Ownership Stats

Over 23% of VGM employee owners took on new roles in the company

176 Promotional Moves 201 Lateral Moves

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Welcoming Change AI Tech Advancement Committee More AI programs are developed and launched seemingly daily…and people want to use all of them. To help navigate this ever-evolving AI environment, VGM instituted the AI Tech Advancement Committee in August 2025. Previously, teams looking to use a product had to send a request to Corporate IT, who would review, and approve or deny the product. It sounds straightforward. However, there was no true vetting process or central hub to track these programs. The Advancement Committee, comprised of 11 IT leaders from all business units, vets all AI implementation requests. They then compare the business unit’s needs to tools already across VGM to determine if a new program is necessary. Protecting Our Company also plays a key role. The committee always considers two key factors: • Does the tool store VGM data? • Does the tool learn from VGM data? Many AI tools store and use data to learn, making it possible for other sources to access that data indirectly. As a leader in the healthcare industry, VGM’s top concern is ensuring protected health information (PHI) is safe. That’s why, for instance, VGM utilizes Copilot which keeps information within the company and only learns within VGM. This allows us to Protect Our Company while also Welcoming Change.

Scan or Click Here To Learn About AI At VGM

Project Diamond Processing insurance claims is a daily occurrence at VGM Insurance. However, until a claim is reviewed, there’s no way to tell if it’s low or high priority. But what if there was a way to automate processing for low-priority claims? “We needed to figure out a seamless system,” said Tera O’Hare, SVP Of Systems, VGM Insurance, and employee owner since 2010, “One where quick claims could be taken care of immediately, and the high-priority claims get the attention they need.” Insurance started looking around for a program that would meet the team’s needs and also adapt to how Insurance works. Ultimately, Project Diamond was chosen. “We wanted to make sure that everyone had a hand in the testing,” said Tera O’Hare. “The people who help us make these decisions needed to be the ones doing the work day-to-day. When the Project Diamond team would come on-site, it wouldn’t just be our leadership in the room… we’d have the employee owners using Project Diamond in there with us to make decisions.” Project Diamond is slated to go live in early 2026. And it’s estimated that by 2028 there will be a 30% increase in policies per full-time employee as business grows.

SleepGlad & AI Mask Fitting One of the most consistent pain points for respiratory providers and their patients who rely on positive airway pressure (PAP) devices is mask fitting. If a mask doesn’t fit, the therapy is less effective. And if it’s uncomfortable, the patient is less likely to use it. VGM aimed to find a solution. “We knew AI mask fitting would address a huge pain point for the industry,” said Lindy Tentinger, President of VGM & Associates and employee owner since 2017. “VGM is always looking to adapt and incorporate new tech. We’re here to help guide the industry forward and help providers deliver improved outcomes.” VGM acquired SleepGlad in early 2025 to accomplish this goal. SleepGlad is an AI mask-fitting tool that uses any camera-enabled device to scan a patient’s face and provide a mask recommendation. Boasting a 97% accuracy rate, this helps eliminate tedious and costly mask refits. This is just one more way VGM is investing in the healthcare industry and helping providers improve the quality of life for their patients.

97% ACCURACY RATE

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Celebrating Our Employee Owners Our employee owners drive VGM’s success. And we celebrate them each year with the VGM Awards. Each award reflects one of the eight Power Of One Principles here at VGM. From leading the charge for AI adoption to making work a little more fun, each of these star performers show that one person and one project can make a significant impact.

Scan the QR code or click here to see the employee owners recognized at the 2025 VGM Awards.

Recognition EMPLOYERS OF

2025, 2023, 2022, 2021, 2020

T PLA ES F O R C

2025, 2024, 2023, 2022, 2021, 2020

WORKING PARENTS®

2025, 2024

2025, 2024, 2023, 2022

WOMEN

LEAD CHANGE

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Scan to view the digital version. Headquartered in Waterloo, Iowa, VGM is a 100% employee-owned company providing business and professional services to thousands of business customers across North America. Services include group purchasing, commercial insurance, management of healthcare services and networks in non-acute cases, healthcare distribution direct to patient homes, specialty consulting, online education, digital, print, and traditional marketing and more. VGM employs more than 1,600 people across the U.S. and Canada, with more than 1,100 working in Iowa. VGM has been named the Top Workplace in Iowa on multiple occasions and is proud of its role in the communities in which it serves. For more information, visit www.vgmgroup.com.