Rogers Sugar Inc. · TSX:RSI
Rogers Sugar — Shareholder Meeting (February 2026)
22 slides from Rogers Sugar's shareholder meeting presentation, Feb 4, 2026
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders Rogers Sugar Inc. TSX: RSI February 4, 2026 The Canadian Leader In Quality Sugars And Sweeteners Since 1888
Slide 2: Forward-looking Statements
Forward-looking Statements This report contains statements or information that are or may be “forward-looking statements” or “forward-looking information” within the meaning of applicable Canadian securities laws. Forward- looking statements may include, without limitation, statements and informatio
Slide 3: Our Strategy
Our Strategy Rogers Sugar Inc. TSX: RSI We seek to generate consistent, The holding company of Lantic Inc. profitable and sustainable growth by optimizing our business to take advantage of the favourable Canadian economics and demand trends in Sugar and to drive stronger performance and margins in M
Slide 4: Our Operations
Our Operations ROGERS 1. Head Office and Cane Refinery Vancouver, BC 2, Beet Plant Taber, AB 3. Distribution Centre Toronto, ON 4. Administrative Office and Cane Refinery \Viontreal, QC LANTIC MAPLE 5. Bottling Plant, Eastern Sales and Distribution Granby, QC 6, Bottling Plant, Warehousing and Shipp
Slide 5: Our Vision
Our Vision Be a great company to Partner with, Work for, and Invest in, by offering a best-in-class portfolio of natural sweetener solutions. We are an essential link in the food supply chain. 5
Slide 6: Investment Highlights
Investment Highlights • A focus on consistent, profitable and sustainable growth has generated another strong first quarter financial results • As the largest publicly traded Canadian sweetener producer, Rogers offers investors the opportunity to benefit from: o The North American sugar market deman
Slide 7: Rogers Refined
Rogers Refined Better company, better investment. Consistent Profitable Growth and Cash Generation Consistent adjusted EBITDA and cash flow growth to fund business MODERNIZING, OPTIMIZING DRIVING PROFITABILITY IN MAINTAINING A STRONG ADVANCING OUR ESG and investment, and dividends to AND GROWING IN
Slide 8: 2025 in Review
2025 in Review 8
Slide 9: 2025 Achievements
2025 Achievements Record Revenues • Advanced construction on LEAP $1.3B 7% Record Adjusted EBITDA • Completed successful Eighth series debenture issue $150M 6% • Published integrated Annual Adjusted Net Earnings Report and ESG Report $73M 9% Free Cash Flow $792M1 $104M 42% Market Capitalization 6%1
Slide 10: 2025: A Year of Resilience and Growth
2025: A Year of Resilience and Growth 1,400 REVENUE +7% ($millions) ADJUSTED EBITDA 160 ($millions) +6% 1,200 140 1,000 120 800 100 80 600 60 400 40 200 MAPLE 20 SUGAR 0 0 2024 2025 2024 2025 10
Slide 11: Sugar Sales Show Adaptability Amid Trade Shifts
Sugar Sales Show Adaptability Amid Trade Shifts • Contribution of all plants supported year-over-year volume growth • Being opportunistic and adaptable helped to minimize impact of volatile tariff discussions SUGAR SALES VOLUME 900,000 (Metric tonnes) 779,505 794,600 795,307 781,454 800,000 753,333
Slide 12: Record Sugar Revenue in 2025
Record Sugar Revenue in 2025 • Sugar revenues increased by 5% over 2024 and surpassed $1 billion for the first time REVENUES 1200 +12% ($Millions) CAGR 1000 800 600 400 200 0 2021 2022 2023 2024 2025
Slide 13: Robust Pricing Drives Record Adjusted EBITDA in Sugar
Robust Pricing Drives Record Adjusted EBITDA in Sugar • Adjusted EBITDA in Sugar increased by 4% to $129 million driven by increases in market pricing for sugar refining activities • Adjusted operating margin per MT was $224/MT, an increase of $2/MT from 2024 ADJUSTED 140 250 ADJUSTED EBITDA OPERATI
Slide 14: An Update on LEAP: Our Eastern Expansion Project
An Update on LEAP: Our Eastern Expansion Project LEAP will expand our production capacity by an estimated 100,000 metric tonnes Progress Updates • Planning and design phases are complete, • Estimated cost to complete LEAP is construction phase is underway unchanged at $280 to $300 million • Equipmen
Slide 15: Maple Volume
Maple Volume • Volume increased by 6.5 million pounds compared to 2024 with higher demand from higher and existing customers • Favourable crop yield in 2025 supported demand growth MAPLE SALES 60 VOLUME (Million Lbs) 50 40 30 20 10 0 2021 2022 2023 2024 2025 15
Slide 16: Improved Profitability in Maple
Improved Profitability in Maple • Adjusted EBITDA increased by 18% year over year to $21 million in 2025 • Adjusted gross margin remained above 10% from strong pricing and operating efficiency 12.0% ADJUSTED ADJUSTED EBITDA GROSS MARGIN 20 10.0% ($Million) (%) 8.0% 15 6.0% 10 4.0% 5 2.0% 0 0.0% 2021
Slide 17: Consolidated Non-GAAP Results
Consolidated Non-GAAP Results • Strong performance from both business segments drives fourth consecutive year of record profitability • Focus on consistent, sustainable and profitable growth has established a foundation for the years ahead FY 2025 FY 2024 FY 2023 SUGAR (MT) 781,000 753,000 795,000 M
Slide 18: Consolidated Free Cash Flow
Consolidated Free Cash Flow ($ million) FY 2025 FY 2024 FY 2023 • Higher Adjusted OPERATING ACTIVITIES: $121 $80 $44 EBITDA drives higher cash flow from CASH FLOW FROM OPERATING ACTIVITIES NON-CASH ITEMS/DERIVATIVE FINANCIAL INSTRUMENTS $12 $29 $31 operations $133 $109 $75 • Lower capex reflects FIN
Slide 19: 2026 Outlook
2026 Outlook 19
Slide 20: Outlook for 2026
Outlook for 2026 • We expect consistent financial performance in 2026 • Will continue to monitor and engage with stakeholders on evolving trade discussions • Stable profitability in Sugar and strength in Maple • Major progress on LEAP expansion project • Rogers Refined framework gives roadmap for fu
Slide 21: Fiscal 2026 Focus
Fiscal 2026 Focus • Advance our safety program to provide a safe and healthy working environment for our employees Delivering value to • Focus on excellence in serving our customers shareholders through, consistent, • Move forward on our LEAP Project to build our production and logistics capability
Slide 22: Jeudic
Jeudic ERABLE Mi MAPLE