Sunopta — Q4 2024 Earnings Presentation

24 slides from Sunopta's earnings presentation, Feb 26, 2025

Slide 2: General Disclosures
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 General Disclosures This presentation contains forward-looking statements that reflect the Company’s current views about future events and financial performance. These forward-looking statements are subject to important risks and
Slide 3: Table of Contents
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 Table of Contents ➢ Strategy Update ➢ Financial Results & Outlook ➢ Appendix © SunOpta Inc. 2025 3
Slide 5: Key Messages
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 Key Messages Representative Retail and Foodservice Customer Base • Recent investments to fortify SunOpta’s competitive advantages have solidified our position in the market and established the foundations for sustained growth • As
Slide 6: The past four years have been a period of elevated investment
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 The past four years have been a period of elevated investment as we capitalized on market tailwinds to grow share and expand our TAM Representative Retail and Foodservice CustomerWe Basehave successfully executed …And are on track
Slide 7: We have validated the resiliency and value of our manufacturing-led, solutions-focused business model
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 We have validated the resiliency and value of our manufacturing-led, solutions-focused business model Representative Retail and Foodservice Customer Base SUNOPTA SOLUTIONS OFFERING SUSTAINED DOUBLE-DIGIT REVENUE GROWTH in $ millio
Slide 8: We are playing in the right channels and categories to deliver above market growth
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 We are playing in the right channels and categories to deliver above market growth… Representative Retail and Foodservice Customer Base Our foodservice business is outperforming the channel Our fruit snacks business is in the bett
Slide 9: …and we are winning with the winners
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 …and we are winning with the winners BLUECHIP PARTNERS LEADING SHELF STABLE SUPPLY POSITIONS Representative customers We have achieved a PRIMARY SUPPLIER OF PLANT-BASED PRIMARY SUPPLIER OF FRUIT SNACKS TO 20%+ MILKS TO A LEADING A
Slide 10: Converting scale and competitive advantages into increased profitability and cash generation
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 Moving forward, we will convert our scale and competitive advantages into increased profitability and cash generation • SunOpta’s Asset Optimization Strategy is a multi-year initiative designed to deliver disciplined and sustainab
Slide 11: Realizing supply chain efficiencies will drive significant improvement in gross margin
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 Realizing supply chain efficiencies will drive significant improvement in gross margin, reversing recent expansion-driven declines Representative Retail and • The pace and Foodservice scope Customer Baseof recent growth GROSS MARG
Slide 12: Optimizing equipment productivity levels will unlock incremental trapped capacity
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 Optimizing equipment productivity levels will unlock incremental ‘trapped’ capacity, sufficient to fuel high single-digit growth rates Representative Retail and Foodservice Customer Base REVENUE GROWTH ROADMAP in $ millions $900M+
Slide 13: Capital expenditures will decline as we shift spending
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 Capital expenditures will decline as we shift spending from expansion to maintenance, modernization, and productivity expenditures Representative Retail and Foodservice Customer Base CAPITAL EXPENDITURE ROADMAP in $ millions $65 •
Slide 14: Capital allocation priorities remain unchanged
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 Capital allocation Representative priorities remain unchanged Retail and Foodservice Customer Base 1 2 Maintenance & Debt Excess Capital Productivity Capex Repayment Allocation Considerations After we reach our mid-term leverage •
Slide 15: In summary, we are excited to begin the next chapter of our growth journey
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 In summary, we are excited to begin the next chapter of our growth journey and look Representative forward to updating you on our progress Retail and Foodservice Customer Base ASSET OPTIMIZATION STRATEGY SUMMARY Strategic Accelera
Slide 17: Key Takeaways
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 Key Takeaways  Q4 FY24 delivered as expected − Grew volume (+13%), revenue (+9%) and adjusted EBITDA(1) (+20%) − Completed start-up phase at Midlothian, Texas facility  Exiting FY24 with momentum and a roadmap for sustained prof
Slide 18: Q4 2024 Financial Update
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 Q4 2024 Financial Update REVENUE in $ millions • Revenue increased 9% to $194 million, $194 +9% driven by strong volume growth (13%) $178 • Adjusted EBITDA(1) from continuing operations increased 20% to $26.1 million • Strong cash
Slide 19: Full Year 2024 Financial Update
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 Full Year 2024 Financial Update REVENUE in $ millions • Revenue increased 15% to $724 million, $724 driven by robust, broad-based volume $627 +15% growth of 21% • Operating income tripled from $5 million to $15 million 2023 2024 •
Slide 20: 2025 Priorities and Outlook
SunOpta Inc. Earnings Presentation Fueling the Future of Food Q4 2024 2025 Priorities and Outlook in $ millions FY25 Priorities Metric FY25 Outlook • Relentlessly pursue supply chain Revenue $775-$805 efficiencies to improve profitability (+7%-11% vs prior year) and generate fuel for growth Adjusted
Slide 22: Reconciliation of U.S. GAAP Results to Adjusted EBITDA
Reconciliation of U.S. GAAP Results to Adjusted EBITDA The following table presents a reconciliation of adjusted EBITDA from continuing operations from earnings (loss) from continuing operations, which we consider to be the most directly comparable U.S. GAAP financial measure. (Figures in $ thousand
Slide 23: Reconciliation of U.S. GAAP Results to Adjusted Gross Margin
Reconciliation of U.S. GAAP Results to Adjusted Gross Margin The following table presents a reconciliation of adjusted gross margin from continuing operations to gross margin from continuing operations, which we consider to be the most directly comparable U.S. GAAP financial measure. Revenues Cost o
Slide 24: 7078 Shady Oak Road Eden Prairie, Minnesota 55344 www.sunopta.com
7078 Shady Oak Road Eden Prairie, Minnesota 55344 www.sunopta.com © SunOpta Inc. 2025 24

SunOpta — Q4 2024 Earnings Presentation on 6ix

Sunopta — Q4 2024 Earnings Presentation

Slide 1: SunOpta Inc. Earnings Presentation Q4 2024

Slide 2: General Disclosures

Slide 3: Table of Contents

Slide 4: Strategy Update

Slide 5: Key Messages

Slide 6: The past four years have been a period of elevated investment

Slide 7: We have validated the resiliency and value of our manufacturing-led, solutions-focused business model

Slide 8: We are playing in the right channels and categories to deliver above market growth

Slide 9: …and we are winning with the winners

Slide 10: Converting scale and competitive advantages into increased profitability and cash generation

Slide 11: Realizing supply chain efficiencies will drive significant improvement in gross margin

Slide 12: Optimizing equipment productivity levels will unlock incremental trapped capacity

Slide 13: Capital expenditures will decline as we shift spending

Slide 14: Capital allocation priorities remain unchanged

Slide 15: In summary, we are excited to begin the next chapter of our growth journey

Slide 16: Financial Results & Outlook

Slide 17: Key Takeaways

Slide 18: Q4 2024 Financial Update

Slide 19: Full Year 2024 Financial Update

Slide 20: 2025 Priorities and Outlook

Slide 21: Appendix

Slide 22: Reconciliation of U.S. GAAP Results to Adjusted EBITDA

Slide 23: Reconciliation of U.S. GAAP Results to Adjusted Gross Margin

Slide 24: 7078 Shady Oak Road Eden Prairie, Minnesota 55344 www.sunopta.com