Aventus Capital Inc. · TSXV:AVTS
Aventus Capital — The Westaim — Q1 2026 Earnings Presentation
20 slides from Aventus Capital's earnings presentation, May 14, 2026
Slide 1: Q1 2026 Investor Presentation
Q1 2026 Investor Presentation • May 14, 2026
Slide 2: Disclaimer
Disclaimer Safe Harbour Statement This document and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part either directly or indirectly without the prior written consent of each of The Westaim Corporation (“Westaim” or the “Corporation” or t
Slide 3: Important Disclosures
Important Disclosures Non-IFRS Measures Westaim Westaim reports its consolidated financial statements using Generally Accepted Accounting Principles (“GAAP”) and accounting policies consistent with IFRS. The Company discloses a number of financial measures in this presentation that are calculated an
Slide 4: Q1 2026 Highlights
Q1 2026 Highlights Asset Management Insurance Corporate and Other Investments Q1 2026 Adjusted EBITDA(1) for the Insurance Q1 2026 Adjusted EBITDA(1) for the Asset segment was a net loss of $20.1 million for Q1 2026 Q1 2026 Adjusted EBITDA(1) for Corporate and Management business was a net loss of $
Slide 5: Westaim Summary Q1 2026 Operating Results
Westaim Summary Q1 2026 Operating Results Three months ended March 31 (Amounts in millions of US$ except per share data) 2026 2025 Westaim’s loss and comprehensive loss attributable to Management fee revenue $ 5.1 $ - controlling interests for Q1 2026 was $33.9 million ($1.00 diluted loss per share)
Slide 6: Westaim Summary Q1 2026 Operating Results By Segment
Westaim Summary Q1 2026 Operating Results By Segment(1) (Amounts in millions of US$) Asset ASSET MANAGEMENT ) Management Insurance Corporate Eliminations Consolidated • Asset Management had Adjusted EBITDA of ($7.3) million in Q1 2026, exclusive of $3.1 Management fee revenue $ 5.9 $ - $ - $ (0.8) $
Slide 7: Westaim Summary Statement of Financial Position at March 31, 2026
Westaim Summary Statement of Financial Position at March 31, 2026 As at March 31, 2026 December 31, 2025 • At March 31, 2026, the Company had $240.6 million of cash and $455.7 (Amounts in millions of US$ except per share data) million of investments on its balance sheet to support ongoing Assets com
Slide 8: Westaim Diluted (Loss) Earnings per Share (US$): Three months ended March 31, 2026
Westaim Diluted (Loss) Earnings per Share (US$): Three months ended March 31, 2026(1) (1) For further information, refer to Westaim’s Financial Statements for the three months ended March 31, 2026. 8
Slide 9: Westaim Book Value per Share (US$): Three months ended March 31, 2026
Westaim Book Value per Share (US$): Three months ended March 31, 2026(1) (1) For further information, refer to Westaim’s Financial Statements for the three months ended March 31, 2026. 9
Slide 10: Insurance Segment Supplemental Materials
INSURANCE SEGMENT SUPPLEMENTAL MATERIALS 10
Slide 11: Ceres Life Continues to Deliver on Key Milestones
Ceres Life Continues to Deliver on Key Milestones Key milestones (non-exhaustive) Jun 2024: CC Capital Jun 2025: Sep 2025: Jan 2025: Feb 2025: formed Salem Group MYGA IMO launch Opened call TDI Holdings (Now Ceres product center approved USA) to incubate Ceres launch MYGA Life product 2024 2025 2026
Slide 12: Ceres Life Annuity Product Launches
Ceres Life Annuity Product Launches 2025 Product Launch: 2026 Product Launch: $64.5 million of cumulative premium to date $51.5 million of cumulative premium to date through March 31st through March 31st
Slide 13: Ceres Life State Approvals Map (As of May 14, 2026)
Ceres Life State Approvals Map (As of May 14, 2026) Ceres Life now has product regulatory approvals in 44 states plus the District of Columbia The Ceres Life MYGA and Graybar FIAs are issued by Ceres Life Insurance Company, home office Shelton, CT. They are single premium deferred annuities. Ceres L
Slide 14: Asset Management Segment Supplemental Materials
ASSET MANAGEMENT SEGMENT SUPPLEMENTAL MATERIALS 14
Slide 15: About Arena
About Arena 15 • Institutional investment manager focused on both public and private fixed income investments with over 180 people, inclusive of sourcing, underwriting, surveillance, workout, operational ABOU T AREN A ( 1 ) improvement and extensive financial / operational infrastructure. $4.3B • Br
Slide 16: Arena – Key Highlights
Arena – Key Highlights 16 • Arena is a growing global financial institution • Mandate flexibility and diversification contribute to consistency across cycles. Differentiated Approach • Proprietary sourcing and global infrastructure. • Intellectual property that can be leveraged for investors as well
Slide 17: Arena – Investment vehicles
Arena – Investment vehicles (1) 17 $ 4 . 3 B AU M AN D P R O G R AM M AT IC C AP ITAL ( 2 ) P e r m a n e n t C a p it a l ( Ar e n a F IN C O s ) E XC E S S C AP AC IT Y O P P O R T U N IT IE S $0.8B • Ar e n a F in a n c e • Ar e n a O r ig in a t io n C o m p a n y O p e n - e n d e d Eve r g r e
Slide 18: Arena – Investing: Performance & Deployment
Arena – Investing: Performance & Deployment 18 • The following table presents the performance data for Arena’s active drawdown funds that are managed by Arena on a discretionary basis: As of March 31, 2026 Year of AUM and Original Capital Capital Invested Realized Unrealized Net Net Primary Investme
Slide 19: Arena – Investing: Performance & Deployment
Arena – Investing: Performance & Deployment 19 • The following table presents the performance data for Arena’s active open-ended funds that are managed by Arena on a discretionary basis: As of March 31, 2026 Net Returns (%) AUM and Since Inception Quarter-to-date Year-to-date Primary Investment Stra
Slide 20: Arena – AUM and Programmatic Capital Through March 31, 2026
Arena – AUM and Programmatic Capital Through March 31, 2026 20 • AIGH’s assets under management (including undrawn commitments) and Programmatic Capital were $4.3B1 at March 31, 2026. • From December 31, 2015, to March 31, 2026, AUM and Programmatic Capital has grown at a CAGR of ~34%. Arena – AUM a