Superior Plus Corp · TSX:SPB
Superior Plus — Investor Presentation (April 2026)
16 slides from Superior Plus's investor presentation, April 2026
Slide 1: Investor Update April 2026
an “ Superior Plus INVESTOR UPDATE April 2026
Slide 2: Forward-Looking Statements and Information and Non-GAAP Financial Measures
Forward-Looking Statements and Information and Non-GAAP Financial Measures This presentation contains information or statements that are or may be “forward-looking statements” within the meaning of applicable Canadian securities laws. When used in this presentation, the words “may”, “will”, “should”
Slide 3: Leading Position in North American Energy Distribution
Leading Position in North American Energy Distribution Focused on Propane and Compressed Natural Gas (CNG) Key Company Stats ~$1.1B ~$3.2B ~$473M ~600 ~2,100 ~710K Market Enterprise 2026E Adj. EBITDA Locations Delivery Vehicles + Customers3 Capitalization1 Value1 (US $M)2 MSUs Superior’s Diversified
Slide 4: Our Markets Present Significant Longevity and Long-Term Opportunity
Our Markets Present Significant Longevity and Long-Term Opportunity Propane Market Volume Expectations1 CNG Market Volume Expectations2 ~10.7B ~10.7B Gallons Gallons Stable 9% CAGR 2020 2022 2024 2026E 2028E 2030E 2020 2022 2024 2026E 2028E 2030E Stable, Fragmented Market, Growing Share Growing Mark
Slide 5: Leading North-American Propane Business
Leading North-American Propane Business Superior Propane Superior Propane US Canada Segment Overview 352M 273M ▪ Leading distributor with expansive 9.5B 1 Residential & Commercial Gallons 1.2B Residential & Commercial Gallons footprint and whitespace to grow 1 Total Market Gallons Total Market Gallo
Slide 6: Virtuous Cycle for Unlocking Differentiated Growth in Propane
Virtuous Cycle for Unlocking Differentiated Growth in Propane Propane Industry has Superior Delivers – a Plan for Historically Failed to Unlocking Significant Value for Capitalize on Opportunities Customers and Shareholders $40M+ $30M+ $5M+ EBITDA 1,2 EBITDA 1,2 EBITDA1,2 e De ns prov i ty Im Short-
Slide 7: Cost to Serve Example – Optimized Route Planning
Cost to Serve Example – Optimized Route Planning Customer Illustration Legacy Route Optimized Route Data-Driven Route Optimization Enabled Delivery Delivery Cost-to-Serve ~50% Cost-to-Serve A USD / gallon A USD / gallon Estimated Reduction 3.00 in Cost-to-Serve Customer A 1.50 Bulk Plants Customers
Slide 8: Playing the Long Game with Customer Lifetime Value
Customer Growth Example Playing the Long Game with Customer Lifetime Value Customer A Customer A (Same) Margin per Gallon ($) Margin per Gallon ($) Year 1 Year 2 Year 3 Year 4 Year 5 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Lifetime Value ($) Lifetime Value ($) Year 1 Year 2 Year 3 Ye
Slide 9: Market Leader in Over-the-Road CNG
Market Leader in Over-the-Road CNG 2025 Key Stats 31.3M $143M >700 ~5 Years 879 21 Volume Adj. EBITDA Employees Average MSU Fleet Count Total Hubs (MMBtu) (US $M)1 Age of MSUs 879 MSU Fleet 2025 Sales Volume 2025 Gross Breakdown Profit 1 Segment Overview 330 160 Industrial Industrial ▪ First to mark
Slide 10: CNG Path Forward – Defend Wellsite, Grow Industrial, Reduce Costs
CNG Path Forward – Defend Wellsite, Grow Industrial, Reduce Costs Defend our position in wellsite… Capitalize on our strengths: Current Market ▪ Deepest experience and customer relationships Returns Share Growth1 ▪ Most extensive hub network & mobile compression equipment Wellsite ~40% 0-5% >15% ▪ C
Slide 11: Financial Overview
Financial Overview wr « Superior Plus
Slide 12: 2025 Results
2025 Results Dollar amounts are expressed in millions Year Ended Year Ended of U.S. dollars, except per share amounts YoY Change 2025 2024 Key Drivers of Results Adjusted EBITDA1 463.5 455.5 1.8% ▪ Increased Adj. EBITDA1 driven by growth U.S. Propane Adjusted EBITDA1 235.2 218.5 7.6% in propane from
Slide 13: 2026 Financial Outlook – Propane Growth Partly Offset by CNG Decline
2026 Financial Outlook – Propane Growth Partly Offset by CNG Decline 2026 Expectations North American Propane Adjusted EBITDA1 2026 Expectations Including ~$50 million from Superior Delivers 3% to 8% Superior is expecting CNG Adjusted EBITDA1 -4% to -9% Adjusted EBITDA1 growth in 2026 of approximate
Slide 14: Clear Capital Allocation Priorities
Clear Capital Allocation Priorities Share Repurchases ~2% Capital Allocation Driving Dividends Shareholder Value Dividends ~10% ~20% ▪ Plan to repurchase ~$150M of shares outstanding from 2025-2027 Share ▪ Repaying ~$200M of debt, Capital ~25% Repurchases Capital CAPEX contributing to de-leveraging
Slide 15: Strengthening Balance Sheet and Increasing Financial Flexibility
Strengthening Balance Sheet and Increasing Financial Flexibility Debt Maturity Schedule (US$ M) 1,7 600 No near-term 400 Total amount 238 debt maturities available 600 365 362 Attractive rates and 2026E 2027E 2028E 2029E 2030E maturity profile ~4.60%2 Credit Facility ~4.25% CAN Unsecured Debenture ~
Slide 16: Experienced Management Team
Experienced Management Team Executive Leadership Business Unit Leadership Allan MacDonald Grier Colter Darren Hribar Dale Winger Tommy Manion President and CEO EVP and Chief Financial Officer SVP and Chief Legal Officer President of Certarus COO, North American Propane Joined as President and CEO in