Slide 1: Disclaimer
Disclaimer Forward-looking statements Certain statements contained in this presentation may constitute forward-looking information and statements. All statements in this presentation, other than statements of historical fact, that address events or developments concerning SNDL Inc. (“SNDL" or the "C
Slide 2: Corporate Presentation: Fourth Quarter & Full Year 2024
Corporate Presentation FOURTH QUARTER & FULL YEAR 2024 March 2025 NASDAQ: SNDL
Slide 3: 2024 Company Highlights
2024 Company Highlights RECORD NET REVENUE RECORD GROSS PROFIT POSITIVE FREE CASH AND GROSS MARGIN FLOW Revenue growth in Q4 and The increase in gross margin SNDL showcased positive full year 2024 driven by was largely driven by Free Cash Flow with Cannabis, which productivity initiatives in the con
Slide 4: Q4 Financial Highlights
Q4 Financial Highlights Net Revenue $257.7MM $9.2MM 3.7% Increase YOY Increase YOY SNDL delivered solid Gross Profit $68.8MM $11.5MM 20% results and is well- positioned for success Increase YOY Increase YOY in 2025 and beyond Gross Margin 26.7% 3.6pp Financial performance shows clear operational Inc
Slide 5: 2024 Full Year Financial Highlights
2024 Full Year Financial Highlights Net Revenue $920MM $11.4MM 1.3% Increase YOY Increase YOY Gross Profit $240MM $49.9MM 26% Increase YOY Increase YOY SNDL delivered solid results with sequential Gross Margin 26.1% 5.2pp improvement in profitability and Increase YOY achieved positive free cash flow
Slide 6: Consolidated Financial Results
Net Revenue ($000s) Gross Profit ($000s) Fourth Quarter Consolidated Financial Results 80,000 300,000 3.7% Increase YOY 20% Increase YOY 2024 Financial 60,000 Performance 200,000 40,000 100,000 20,000 SNDL achieved positive Free Cash Flow, 0 - with significant gross profit expansion and 2021 2022 20
Slide 7: Net Revenue and Gross Profit Contribution by Segments
Net Revenue and Gross Profit Contribution by Segments Consolidated Financial Results Net Revenue ($Millions) Gross Profit ($Millions) 11.0 11.2 68.8 257.7 248.5 8.0 (4.4) (5.4) 57.3 0.4 Q4 +3.7% (0.2) +20% Q4 2023 Liquor Retail Cann. Retail Cann. Ops Corporate Q4 2024 Q4 2023 Liquor Retail Cann. Ret
Slide 8: Adjusted Operating Income and Free Cash Flow Contribution by Segments
Adjusted Operating Income and Free Cash Flow Contribution by Segments Consolidated Financial Results Adj. Operating Income ($Millions) Free Cash Flow ($Millions) 12.2 20.1 6.9 2.2 Q4 (27.1) 1.0 11.6 (123)% (10.9) 3.9 +700% (60.5) 1.4 (58.5) Q4 2023 Liquor Retail Cann. Retail Cann. Ops Investments Co
Slide 9: Free Cash Flow Breakdown and Inventory
Strong Q4 2024 Free Cash Flow underpinned by inventory First Quarter Financial Results improvements and higher OI. Delivered full year positive FCF Inventory Build by Retail Segments*** ($Millions) 30 FCF Breakdown ($Millions) 25 20 H1'24 Q3'24 Q4'24 FY'24 15 Net Income (9.6) (19.3) (67.2)** (96.2)
Slide 10: Liquor Retail
Liquor Retail Change vs 2023 ($ Millions) 2024 Abs % 2024 Q4 Net Revenue Gross Profit 154.1 38.2 (5.4) (0.2) (3.4)% (0.4)% Gross Margin 24.8% 0.7pp Liquor Retail Results Adj. Operating Income 12.3 2.2 21.8% • Category decline impacted by lower store traffic • Full year Private label sales increased
Slide 11: Cannabis Retail
Cannabis Retail Change vs 2023 ($ Millions) 2024 Abs % 2024 Q4 Net Revenue Gross Profit 83.2 20.5 8.0 0.4 10.7% 2.2% Gross Margin 24.6% (2.0)pp Cannabis Retail Results Adj. Operating Income 6.0 6.9 +800% • Full year Same store sales growth of 3.5% year-over- year • Additional Net revenue growth from
Slide 12: Cannabis Operations
Cannabis Operations Change vs 2023 ($ Millions) 2024 Abs % 2024 Q4 Net Revenue Gross Profit 37.1 10.1 11.0 11.2 +1000% 42% Gross Margin 27.2% 31.4pp Cannabis Operations Results Adj. Operating Income 4.4 12.2 157% • Net revenue growth as a result of increasing provincial board and B2B distribution dr
Slide 13: 2024 Strategic Priorities
2024 Strategic Priorities Strategic Priorities GROWTH PROFITABILITY PEOPLE Drive sustainable growth Deliver positive Free Cash Create engagement & in our core segments Flow alignment through performance culture & • Grow and convert • Accelerate productivity talent development store count programs •
Slide 14: Strategic Priorities: Growth
Strategic Strategic Priorities Priorities +0.4pp Indiva Acquisition Cannabis Retail Q4 2024 Highlights Share gain Became market leader in Edibles with Indiva Through quality of execution, ramp up of new Acquisition store openings, Value Buds store conversions and BC expansion GROWTH Drive sustainabl
Slide 15: Strategic Priorities: Profitability
Strategic Strategic Priorities Priorities ~ $12M ~ $8M Free Cash Flow Productivity Savings Q4 2024 Highlights Continued inventory optimization, higher profits Segment optimization, including cultivation, and focused investments procurement efficiencies, and mix management PROFITABILITY Achieve posit
Slide 16: Overheads Restructuring Progress
Overheads Restructuring Progress Savings ($Million) Full Year 2024 - Progress vs Plan $20M+ $18M • Overall Project execution Execution according to plan to reduce • 2024 Savings $5M corporate $5M overheads and • Annualized Savings executed $15M $3M improve the efficiency of the • Percentage of savin
Slide 17: Strategic Priorities: People
Strategic Strategic Priorities Priorities Strategic Talent Employee Value Proposition Q4 2024 Highlights Development Enhanced transparency around key Company Completed SNDL’s inaugural employee KPIs and employee incentives to support a engagement survey to implement strategies to performance-based c
Slide 18: Analyst Q&A
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