Slide 1: Aimia Q4 Presentation
Aimia Q4 Presentation March 26, 2024
Slide 2: Forward-looking and cautionary statements
Forward-looking and cautionary statements This presentation contains statements that constitute “forward-looking information” within the meaning of Canadian securities laws (“forward- looking statements”), which are based upon Aimia’s current expectations, estimates, projections, assumptions and bel
Slide 3: GAAP and Non-GAAP Financial Measures
GAAP and Non-GAAP Financial Measures GAAP FINANCIAL MEASURES To measure performance, the Corporation uses and presents several financial measures in accordance with GAAP, including, but not limited to, gross profit (loss), operating income (loss), Earnings (loss) before income taxes, Net earnings (l
Slide 4: Today's presenters
Today’s presenters Tom Finke Steve Leonard Executive Chairman Chief Financial Officer 4
Slide 5: Key highlights and recent developments
Key highlights and recent developments • Financial results at Bozzetto in line with expectations • Net loss impacted by non-cash write downs at non-core investment companies • Ended 2023 with improved liquidity • Leadership changes designed to strengthen governance and operational focus • Outlook fo
Slide 6: Path to value creation
Path to value creation AIMIA
Slide 7: Path to value creation
Path to value creation Disciplined Growth of core Opportunistic Disciplined capital investments platforms monetization allocation Aimia is executingstatement Conclusion on its strategy 7
Slide 8: Investments in 2023
Investments in 2023 • Acquired 94.1% for $258M* • Acquired for $263.3M combined • Sustainable specialty chemicals • Synthetic rope and netting solutions • Diverse applications • Diverse product mix and customer base • Consistent profitability and cash flow • Steady historical results • Strong growth
Slide 9: Investment in core platform companies
Investment in core platform companies • StarChem S.A. acquisition closed in Q1 2024 • 65% of company acquired for $24.1M • Expands Bozzetto’s presence in North America • StarChem specializes in chemicals for textile industry • Annual production capacity of 20,000 metric tonnes per year Acquisition s
Slide 10: Opportunistic monetization of non-core assets
Opportunistic monetization of non-core assets • $22.5M worth of shares sold since Oct.1 2023 • Monetization consistent with Aimia’s strategy $11.1 $11.4 • 56.2M shares remaining as at March 22, 2024 Q4 2023 Q1 2024 Aimia is opportunistically monetizing its non-core assets 10
Slide 11: Consolidated Results
Consolidated Results AIMIA
Slide 12: FY 2023 Consolidated Results
FY 2023 Consolidated Results Consolidated Revenue $M Pro Forma* Results $M Cortland Int’l $98.7 Cortland Int’l $140.5 Bozzetto $291.2 $437.6 Bozzetto $192.1 $0.4 $296.7 $0.4 Holdings Holdings Actual results based on timing of Bozzetto and Tufropes acquisitions *Pro forma as if Aimia owned Bozzetto a
Slide 13: Consolidated financial highlights
Consolidated financial highlights Revenue $291.2 $9.7 Adj. EBITDA* $114.3 $100.1 $M $4.9 $M Q3 Q4 FY2023 $(4.0) Q3 Q4 FY2023 • Q4 revenue impacted by macro- • Q4 impacted by $9.4M of SG&A costs related economic and geo-political issues to shareholder activism *Adjusted EBITDA is a non-GAAP financial
Slide 14: Factors impacting FY 2023 net loss
Factors impacting FY 2023 net loss Net loss included $130M of losses from investments • $82.3M of investments in TRADE X written down to nil • Value of investment in Clear Media reduced by $27M due to slow recovery of China’s economy • Share of loss from Kognitiv was $20.7M Offset by a non-cash gain
Slide 15: Liquidity waterfall through Dec. 31
Liquidity waterfall through Dec. 31 + $49.2 $(3.1) $(6.4) $17.1 $(26.1) $Millions $26.1 $136.9 $11.1 $30.5 $87.7 $109.1 Cash $42.5 Marketable securities $45.2 $27.8 Q3 Liquidity Private Monetization Bozzetto SPV Dividends Change in Investor Q4 Liquidity placement of Capital A Credit Redemption value
Slide 16: Segmented Results
Segmented Results AIMIA
Slide 17: Bozzetto financial highlights
Bozzetto financial highlights Revenue Adj. EBITDA* $192.1 $30.6 $75.9 $11.7 $70.3 $10.4 $M $M Q3 Q4 FY2023 Q3 Q4 FY2023 • Q4 results impacted by macro-economic • Year-end results in line with expectations and geo-political developments *Adjusted EBITDA is non-GAAP financial measure. See Appendix for
Slide 18: Cortland financial highlights
Cortland financial highlights Revenue Adj. EBITDA* $98.7 $11.3 $38.4 $5.7 $29.7 $M $2.5 $M Q3 Q4 FY2023 Q3 Q4 FY2023 • Q4 results impacted by unfavorable • Year-end results slightly below expectations market conditions *Adjusted EBITDA is non-GAAP financial measure. See Appendix for reconciliation.
Slide 19: Outlook
Outlook AIMIA
Slide 20: Outlook and near-term focus
Outlook and near-term focus 1. Earn-out potential from PLM transaction 2. StarChem integration into Bozzetto 3. Continued monetization of Capital A investments 4. Cost containment at Holdings segment 5. CEO search Aimia is executing on its strategy 20
Slide 21: Questions?
Questions? AIMIA
Slide 22: TSX: AIM www.aimia.ca IRandMedia@corp.aimia.ca
TSX: AIM www.aimia.ca IRandMedia@corp.aimia.ca
Slide 23: Appendix Non-GAAP Financial Measures
Appendix Non-GAAP Financial Measures
Slide 24: Reconciliation of Adjusted EBITDA - Bozzetto Segment
Reconciliation of Adjusted EBITDA Bozzetto Segment Three Months Ended Years Ended December 31, December 31, (in millions of Canadian dollars) 2023 2022 2023 (a) 2022 (b) Reconciliation of Adjusted EBITDA Earnings (loss) before income taxes 0.5 — (29.9) — Depreciation and amortization 5.1 — 13.1 — Co
Slide 25: Reconciliation of Adjusted EBITDA - Cortland Segment
Reconciliation of Adjusted EBITDA Cortland Segment Three Months Ended Years Ended December 31, December 31, (in millions of Canadian dollars) 2023 2022 2023 (a) 2022 (b) Reconciliation of Adjusted EBITDA Earnings (loss) before income taxes (6.5) — (34.4) — Depreciation and amortization 3.0 — 8.7 — I
Slide 26: Reconciliation of Adjusted EBITDA - Holdings Segment
Reconciliation of Adjusted EBITDA Holdings Segment Three Months Ended Years Ended December 31, December 31, (in millions of Canadian dollars) 2023 2022 2023 2022 Reconciliation of Adjusted EBITDA (c) Earnings (loss) before income taxes (54.0) (22.0) (116.3) 445.3 Depreciation and amortization — — 1.