Slide 1: SunOpta Inc. Earnings Presentation Q1 2025
SunOpta Inc. Earnings Presentation 1 Q1 2025 © SunOpta Inc. 2025 1
Slide 2: General Disclosures
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 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
Slide 3: Table of Contents
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Table of Contents ➢ Business Update ➢ Financial Results & Outlook ➢ Appendix © SunOpta Inc. 2025 3
Slide 4: Objectives
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Objectives 1. Cover our first quarter 2025 performance 2. Visibility into our revenue growth resiliency and staying power 3. Provide a deeper look at our 4-point plan to achieve an improved gross margin 4. O
Slide 5: Business Update
Business Update © SunOpta Inc. 2022 © SunOpta Inc. 2025 5
Slide 6: Robust growth and performance improvement across key metrics in Q1 2025
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Robust growth and performance improvement across key metrics in Q1 2025 Representative Retail and Foodservice Customer Base METRIC Q1 2025 YoY GROWTH FINANCIAL Revenue From Continuing Operations $201.6M 9% R
Slide 7: Confidence in outlook underpinned by business fundamentals
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Confidence in outlook underpinned by business fundamentals Representative Retail and Foodservice Customer Base Category and customer Resilient and relevant Asset optimization strategy growth tailwinds soluti
Slide 8: Confidence in achieving revenue targets underpinned by market tailwinds and pipeline momentum
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Confidence in achieving revenue targets underpinned by market tailwinds and pipeline momentum REVENUE GROWTH ROADMAP in $ millions 8-10% CAGR >$900M $724M Illustrative Impact from revenue Expected sustained
Slide 9: Ahead of schedule on unlocking 'trapped' capacity within our network
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Ahead of schedule on unlocking ‘trapped’ capacity within our network to support this growth ASEPTIC CAPACITY CAPACITY UPDATE Case Equivalents, Millions +6% • Significant progress made to unlock the latent ca
Slide 10: Enhancing adjusted gross margins through improved operating performance
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Enhancing adjusted gross margins1 through improved operating performance ACTUAL 4-POINT PLAN AREAS OF MID-TERM EXPECTATIONS REPORTED GROSS MARGIN OPERATIONAL EMPHASIS ~20% ADJUSTMENTS 18-19% 16.4% ~17% 15.3%
Slide 11: Financial Results & Outlook
Financial Results & Outlook © SunOpta Inc. 2022 © SunOpta Inc. 2025 11
Slide 12: Q1 2025 Financial Update
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Q1 2025 Financial Update REVENUE in $ millions • Revenue of $202 million was up 9% $202 +9% compared to last year and continued to be $184 driven by solid volume growth (12%) • Adjusted EBITDA(1) from contin
Slide 13: 2025 Outlook
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 2025 Outlook in $ millions FY25 Outlook Metric FY25 Outlook • Raising revenue outlook to $788- Revenue $788-$805 $805M, growth of 9% - 11% (vs. prior (+9%-11% vs prior year) guidance of 7%-11%) to reflect st
Slide 14: Compelling growth algorithm underwrites sustained value creation
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Compelling growth algorithm underwrites sustained value creation METRIC AMBITION ASSUMPTIONS Annual Revenue Sustained growth supported by unlocking capacity from 8-10% Growth existing assets Gross Continued
Slide 15: Revenue and Adj. EBITDA potential based on growth algorithm ambitions
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Revenue and Adj. EBITDA potential based on growth algorithm ambitions REVENUE ADJUSTED EBITDA(2) ACTUALS FORECAST(1) ACTUALS FORECAST(1) ~9% ~$950 ~$135 CAGR ~15% CAGR $724 $89 FY24A FY25E FY26E FY27E FY24A
Slide 16: Update on Tariffs and response
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Update on Tariffs and response Representative Retail and Foodservice Customer Base • Fluid situation that we continue to monitor − While production facilities, and customers are predominately located in the
Slide 17: Capital allocation priorities
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Capital allocation Representative priorities Retail and Foodservice Customer Base 1 2 3 Debt Invest For Return Capital to Repayment Growth Shareholders • FY25 year-end net • Investing back into • Board- auth
Slide 18: Q&A
Q&A © SunOpta Inc. 2022 © SunOpta Inc. 2025 18
Slide 19: Key takeaways
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q1 2025 Key takeaways Deep visibility into our revenue growth resiliency − Market tailwinds and pipeline momentum underpin confidence in growth targets − Diversification across segments, bases and channels adds re
Slide 20: Appendix
Appendix © SunOpta Inc. 2022 © SunOpta Inc. 2025 20
Slide 21: 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 from continuing operations, which we consider to be the most directly comparable U.S. GAAP financial measure. (Figures in $ thousands) Quar
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. (Figures in $ t
Slide 24: Reconciliation of U.S. GAAP Results to Adjusted Earnings Per Share
Reconciliation of U.S. GAAP Results to Adjusted Earnings Per Share The following table presents a reconciliation of adjusted earnings from earnings from continuing operations, which we consider to be the most directly comparable U.S. GAAP financial measure. (Figures in $ thousands, except per share
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