Chemtrade Logistics Income Fund · TSX:CHE.UN
Chemtrade Logistics Income Fund — Q2 2026 Earnings Presentation
42 slides from Chemtrade Logistics Income Fund's earnings presentation, Aug 12, 2026
Slide 1: Our Commitment to Sustainability: Q2 2026 Earnings Review
RESPONSIBLE CARE® OUR COMMITMENT TO SUSTAINABILITY Chemtrade Logistics Income Fund Q2 2026 (TSX: CHE.UN, OTCQX®: CGIFF) Q2 2026 Earnings Review – August 12, 2026
Slide 2: Caution Regarding Forward-Looking Statements
CAUTION Certain statements contained in this presentation constitute forward-looking statements within the meaning of certain securities laws, including the Securities Act (Ontario). Forward-looking statements REGARDING can be generally identified by the use of words such as “anticipate”, “continue”
Slide 3: Q2 2026 Consolidated Results
TSX: CHE.UN, OTCQX®: CGIFF Q2 2026 Consolidated Results Positive Adjusted EBITDA contributions from (i) the Polytec acquisition in the WS segment and (ii) merchant and Regen acid in the ASP segment, were offset by lower selling prices for chlor-alkali products and lower volumes and selling prices fo
Slide 4: Acid and Sulphur Products (ASP) Q2 2026 Results
TSX: CHE.UN, OTCQX®: CGIFF Acid and Sulphur Products (ASP) Q2 2026 Results Comparable Revenue (C$ millions) Foreign Exchange Impact The Canadian dollar remained unchanged relative to the U.S. dollar year-over-year with no impact on revenue and Adjusted EBITDA during Q2 2026 $216.4 ASP Revenue $163
Slide 5: Water Solutions (WS) Q2 2026 Results
TSX: CHE.UN, OTCQX®: CGIFF Water Solutions (WS) Q2 2026 Results Comparable Revenue (C$ millions) Foreign Exchange Impact The Canadian dollar remained unchanged relative to the U.S. dollar year-over-year with no impact on revenue and Adjusted EBITDA during Q2 2026 $181.9 WS Revenue $139.1 WS Reve
Slide 6: Electrochemicals (EC) Q2 2026 Results
TSX: CHE.UN, OTCQX®: CGIFF Electrochemicals (EC ) Foreign Exchange Impact Q2 2026 Results The Canadian dollar remained unchanged relative to the U.S. dollar year-over-year with Comparable Revenue (C$ millions) no impact on revenue and Adjusted EBITDA during Q2 2026 North Vancouver biennial mainten
Slide 7: Q2 2026 Corporate Costs
TSX: CHE.UN, OTCQX®: CGIFF Q2 2026 Corporate Costs Foreign Exchange Impact Corporate Costs (C$ millions) Business results are presented on an unhedged basis. During Q2 2026, the Canadian dollar remained unchanged relative to the U.S. dollar year-over-year with no impact on results $30.3 The rela
Slide 8: Balance Sheet and Capital Allocation
TSX: CHE.UN, OTCQX®: CGIFF Balance Sheet and Capital Allocation Net Debt / LTM Adjusted EBITDA(1) Consistent focus on balanced capital allocation: 1) Invest in high-return, strategic growth opportunities Fully-funded growth strategy with internally-generated cash 2.5x 2.55x flow and revolver avail
Slide 9: 2026 Guidance
TSX: CHE.UN, OTCQX®: CGIFF 2026 Guidance 2026 Guidance: Reaffirming 2026 Adjusted EBITDA guidance, as Adjusted EBITDA previously issued in January 2026, to range between (C$ millions) 2026 Guidance: $485.0 million and $525.0 million $485.0 - $525.0 At midpoint, the 2026 Adjusted EBITDA implies 2
Slide 10: 2026 Guidance
TSX: CHE.UN, OTCQX®: CGIFF 2026 Guidance 2026 2025 Six Months ended Actual Guidance Actual C$ millions June 30, 2026 June 30, 2025 Adjusted EBITDA (1) $485.0 - 525.0 $507.4 $240.8 $258.0 Maintenance Capital Expenditures (1) $130.0 - $140.0 $123.5 $71.4 $43.9 Growth Capital Expenditures (1) $40.0 - $
Slide 11: Chemtrade Vision 2030
TSX: CHE.UN, OTCQX®: CGIFF Chemtrade Vision 2030 “Vision 2030” targets for unitholder returns: Targeted growth in Adjusted EBITDA and Distributable Cash of 5-10% per year, resulting in: $550 million - $600 million of mid-cycle Adjusted EBITDA by 2030 Growth on a per unit basis supplemented by re
Slide 12: ASP Outlook
TSX: CHE.UN, OTCQX®: CGIFF ASP Outlook Maintenance Turnarounds Utilization of U.S. Refinery Capacity (%, weekly) 2026 is expected to be maintenance heavy for acid assets Pricing considerations Sulphur prices have increased significantly versus historical levels and remain elevated. Chemtrade ass
Slide 13: WS Outlook
TSX: CHE.UN, OTCQX®: CGIFF WS Outlook Near-Term Considerations Water Chemicals Raw material costs have been increasing significantly in alum. While Chemtrade has been successfully passing through these 5% CAGR (2023 – 2033) US$12Bn higher costs over time, it may see some margin pressure in the Exp
Slide 14: EC Outlook
TSX: CHE.UN, OTCQX®: CGIFF North Vancouver Chlor-Alkali Facility Update On July 20, 2026, Chemtrade’s rezoning application received final adoption during the EC Outlook meeting of the District of North Vancouver Council (the “District”). The adoption is the final step in the rezoning application p
Slide 15: Growth Investments
TSX: CHE.UN, OTCQX®: CGIFF Growth Investments Organic Growth Investment in 2026 Chemtrade plans to allocate $40 million - $60 million for Growth capital expenditures to support organic growth projects in 2026, compared to approximately $48 million in 2025 Focus areas of investment in 2026 includ
Slide 16: Tariff Impact Update
TSX: CHE.UN, OTCQX®: CGIFF Tariff Impact Update Chemtrade continues to actively monitor developments surrounding tariff developments to swiftly respond to any potential impacts and/or opportunities To date, excluding FX, Chemtrade’s products have not been directly impacted, given all of Chemtrade’
Slide 17: Investment Highlights
TSX: CHE.UN, OTCQX®: CGIFF Investment Highlights Diversified end-market exposure, with a resilient product portfolio offering both defensiveness and growth Resilient Business Model Significant regional market share across product portfolio with several multi-year tailwinds Strong Total Unitholder Re
Slide 18: Q&A
Q&A 18 Financial Capital 2026 Chemtrade Business Investment Agenda Results Appendix Allocation Guidance Vision 2030 Outlook Highlights Review
Slide 19: Appendix
APPENDIX 19 Financial Capital 2026 Chemtrade Business Investment Agenda Results Appendix Allocation Guidance Vision 2030 Outlook Highlights Review
Slide 20: Chemtrade's Footprint
Chemtrade’s Footprint Transcontinental Reach Acid & Sulphur Products (ASP) • 2 facilities in Canada and 8 in the United States • Major Regen acid facilities are pipeline connected to customer 2 1 Water Solutions (WS) 2 1 1 • 10 facilities in Canada and 2 2 3 37 in the United States 1 • Strategic loc
Slide 21: Acid and Sulphur Products (ASP) Segment
TSX: CHE.UN, OTCQX®: CGIFF Acid and Sulphur Products (ASP) Segment Sulphuric Acid (H2SO4) Products Non-Acid Products Regen Acid Ultrapure Acid Merchant Acid Sulphur, Sulphides, SHS, SBS, Sodium Nitrite, etc. Gasoline production Semiconductor manufacturing, Wood pulp, industrial chemicals, car Sulphu
Slide 22: Water Solutions (WS) Segment
TSX: CHE.UN, OTCQX®: CGIFF Water Solutions (WS) Segment Water Products and Services Alum, Ferric ACH, PACI Al+Clear® Services Municipal and industrial water treatment Specialized municipal and industrial Poultry litter management Value-added solutions for municipal and water treatment food / industr
Slide 23: Electrochemicals (EC) Segment
TSX: CHE.UN, OTCQX®: CGIFF Electrochemicals (EC) Segment Electrochemicals Caustic Soda (NaOH) Chlorine (Cl2) Hydrochloric Acid (HCI) Sodium Chlorate (NaCIO3) Pulp & paper, soaps & detergents, Water treatment, chemical processes pH adjustor in water treatment, oil & gas Pulp & paper bleaching aluminu
Slide 24: Key Sensitivities: Annual Impact on Adjusted EBITDA
TSX: CHE.UN, OTCQX®: CGIFF Key Sensitivities: Annual Impact on Adjusted EBITDA Caustic Soda Price Change of US$50/DMT = C$14 million Sodium Chlorate Price Change of CA$50/metric tonne = C$13 million C$/US$ exchange rate Change of 1 cent = C$4 million (favourable if C$ weakens) 24 Financial Cap
Slide 25: ASP Segment
TSX: CHE.UN, OTCQX®: CGIFF ASP Segment Three months ended June 30 Six months ended June 30 C$ millions 2026 2025 2026 2025 Revenue $ 216.4 $ 163.4 $ 396.7 $ 316.5 Gross profit (loss) 35.6 30.8 61.9 51.4 Adjusted EBITDA $ 53.2 $ 43.5 $ 93.4 $ 79.6 25 Financial Capital 2026 Chemtrade Business Investme
Slide 26: WS Segment
TSX: CHE.UN, OTCQX®: CGIFF WS Segment Three months ended June 30 Six months ended June 30 C$ millions 2026 2025 2026 2025 Revenue $ 181.9 $ 139.1 $ 333.5 $ 257.0 Gross profit (loss) 30.9 27.4 50.8 45.3 Adjusted EBITDA $ 37.0 $ 32.7 $ 64.2 $ 56.1 26 Financial Capital 2026 Chemtrade Business Investmen
Slide 27: EC Segment
TSX: CHE.UN, OTCQX®: CGIFF EC Segment Three months ended June 30 Six months ended June 30 C$ millions, except sales volume data 2026 2025 2026 2025 North American sales volumes: Sodium chlorate sales volume (000's MT) 62 66 128 136 Chlor-alkali sales volume (000's MECU) 45 45 85 87 Revenue $ 180.4 $
Slide 28: Non-IFRS Financial Measures and Ratios
TSX: CHE.UN, OTCQX®: CGIFF Non-IFRS Financial Measures and Ratios Non-IFRS financial measures are financial measures disclosed by an entity that (a) depict historical or expected future financial performance, financial position or cash flow of an entity, (b) with respect to their composition, exclud
Slide 29: Non-IFRS Financial Measures and Ratios
TSX: CHE.UN, OTCQX®: CGIFF Non-IFRS Financial Measures and Ratios Distributable cash after maintenance capital expenditures Most directly comparable IFRS financial measure: Cash flows from operating activities Definition: Distributable cash after maintenance capital expenditures is calculated as cas
Slide 30: Non-IFRS Financial Measures and Ratios
TSX: CHE.UN, OTCQX®: CGIFF Non-IFRS Financial Measures and Ratios Payout ratio Definition: Payout ratio is calculated as Distributions declared per unit divided by Distributable cash after maintenance capital expenditures per unit. Why we use the measure and why it is useful to investors: It provide
Slide 31: Non-IFRS Financial Measures and Ratios
TSX: CHE.UN, OTCQX®: CGIFF Non-IFRS Financial Measures and Ratios For the three months ended For the six months ended C$ millions, except per unit metrics and ratios June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Cash flow from operating activities $ 91.9 $ 85.1 $ 134.3 $ 119.4 Add (Less):
Slide 32: Non-IFRS Financial Measures and Ratios
TSX: CHE.UN, OTCQX®: CGIFF Non-IFRS Financial Measures and Ratios C$ millions, except per unit metrics and For the twelve months ended ratios Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 LTM Cash flow from operating activities $369.9 $363.1 $355.1 $350.5 $338.2 $357.0 $342
Slide 33: Non-IFRS Financial Measures and Ratios
TSX: CHE.UN, OTCQX®: CGIFF Non-IFRS Financial Measures and Ratios Net debt Most directly comparable IFRS financial measure: Total long-term debt, Convertible Debentures, lease liabilities, and long-term lease liabilities, less cash and cash equivalents Definition: Net debt is calculated as the princ
Slide 34: Non-IFRS Financial Measures and Ratios
TSX: CHE.UN Non-IFRS Financial Measures and Ratios Growth capital expenditures Most directly comparable IFRS financial measure: Capital expenditures Definition: Growth capital expenditures are calculated as Capital expenditures less Maintenance Capital expenditures, plus investments in a joint ventu
Slide 35: Capital Management Measures
TSX: CHE.UN, OTCQX®: CGIFF Capital Management Measures Capital management measures are financial measures disclosed by an entity that (a) are intended to enable an individual to evaluate an entity’s objectives, policies and processes for managing the entity’s capital, (b) are not a component of a li
Slide 36: Total of Segments Measures
TSX: CHE.UN, OTCQX®: CGIFF Total of Segments Measures Total of segments measures are financial measures disclosed by an entity that (a) are a subtotal of two or more reportable segments, (b) are not a component of a line item disclosed in the primary financial statements of the entity, (c) are discl
Slide 37: Total of Segments Measures
TSX: CHE.UN, OTCQX®: CGIFF Total of Segments Measures Adjusted EBITDA Most directly comparable IFRS financial measure: Net earnings (loss) Three months ended June 30 Six months ended June 30 C$ millions 2026 2025 2026 2025 Net earnings $ 42.9 $ 9.7 $ 68.3 $ 58.8 Add (Less): Depreciation and amortiza
Slide 38: Total of Segments Measures
TSX: CHE.UN, OTCQX®: CGIFF Total of Segments Measures Adjusted EBITDA Most directly comparable IFRS financial measure: Net earnings (loss) Twelve Months Ended C$ millions Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Net earnings (loss) $ 148.9 $ 115.7 $ 139.4 $ 111.4 $ 129
Slide 39: Total of Segments Measures
TSX: CHE.UN, OTCQX®: CGIFF Total of Segments Measures Adjusted EBITDA Most directly comparable IFRS financial measure: Net earnings (loss) Adjusted EBITDA for the year ended December 31 C$ millions 2025 2024 2023 2022 2021 2020 Net earnings (loss) $ 139.4 $ 126.9 $ 249.3 $ 109.1 $ (235.2) $ (167.5)
Slide 40: Supplementary Financial Measures
TSX: CHE.UN, OTCQX®: CGIFF Supplementary Financial Measures Supplementary financial measures are financial measures disclosed by an entity that (a) are, or are intended to be, disclosed on a periodic basis to depict the historical or expected future financial performance, financial position or cash
Slide 41: Supplementary Financial Measures
TSX: CHE.UN, OTCQX®: CGIFF Supplementary Financial Measures Cash interest Represents interest expense related to long-term debt, interest on Convertible Debentures, pension interest expense and interest income. Cash tax Represents current income tax expense. 41 Financial Capital 2026 Chemtrade Busin
Slide 42: Caution Regarding Forward-Looking Statements
CAUTION REGARDING FORWARD-LOOKING STATEMENTS Certain statements contained in this presentation constitute forward-looking statements and forward looking information within the meaning of certain securities laws, including the Securities Act (Ontario). Forward-looking statements can be generally iden
Chemtrade Logistics Income Fund — Q2 2026 Earnings Presentation on 6ix