Pet Valu Holdings Ltd. · TSX:PET
Pet Valu — Q1 2026 Earnings Presentation
15 slides from Pet Valu's earnings presentation, May 12, 2026
Slide 1: Q1 2026 Financial & Operating Review
Q1 2026 Financial & Operating Review For 13-week period ended Apr. 4, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Information This presentation contains forward-looking information. Forward-looking information is provided as of the date of this presentation and is based on management’s opinions, estimates and assumptions in light of its experience and perception of historical trends,
Slide 3: Today's Presenters
Today’s Presenters Greg Ramier Linda Drysdale Chief Executive Officer Chief Financial Officer This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted or redistributed, in whole or in part, without the prior written consent of Pet Valu Canada
Slide 4: Q1 2026 Highlights
Q1 2026 Highlights $288M 8 Revenue New Store Openings (+3% vs. Q1 2025) (41 in last 12 months) $56M $13M Adjusted EBITDA Free Cash Flow (“FCF”) (19.4% Adjusted EBITDA margin) (40% FCF Conversion1) 1 Free Cash Flow (“FCF”) Conversion = LTM Free Cash Flow / LTM Adjusted EBITDA. Note: Adjusted EBITDA a
Slide 5: Our Key Focuses
Our Key Focuses Local & Everywhere Best Pet Customer Strong Wholesale & Pet Specialty Retailer Experience in Canada Retail Fundamentals • Opening new stores across Canada • Offering compassionate, expert • Driving efficiencies and in-store customer service productivity in our supply chain • Continua
Slide 6: Q1 2026 Key Financial Metrics
Q1 2026 Key Financial Metrics Q1 2026 vs. PY2 Drivers System-wide sales $375.2 +2.5% • 41 new stores in last 12 months (“LTM”) Same-store sales growth Flat --- • Basket1 +0.6% and Traffic1 (0.6)% Revenue $287.9 +3.2% • Growth similar to system-wide sales • Higher discount sales penetration, partiall
Slide 7: Q1 2026 Key Financial Metrics
Q1 2026 Key Financial Metrics Liquidity Net Leverage Ratio1 $183M 2.3x cash + revolver capacity vs. 2.2x in Q4 2025 Inventory Net Capital Expenditures $143M $7M +7% vs. Q1 2025 $(3)M vs. Q1 2025 Free Cash Flow Share Repurchases $13M $15M 40% FCF conversion2 $90M in LTM 1Net Leverage Ratio = Net Debt
Slide 8: 2026 Outlook
2026 Outlook Updated Prior Revenue1 +2% to +4% +2% to +4% …supported by… Same-Store Sales Growth Flat to +2% Flat to +2% New store openings ~40 ~40 Flat to slight Adj. EBITDA margin ~21% expansion Adj. Net Income per Similar to Mid - high single Diluted Share1 Fiscal 2025 digits growth Business rein
Slide 9: Our Mission
Our Misson To be Canada’s preferred pet retailer delivering the products, care, expertise, and memorable moments that devoted pet lovers want… locally in stores and everywhere online. This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted o
Slide 10: Appendix
Appendix This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted or redistributed, in whole or in part, without the prior written consent of Pet Valu Canada Inc. © 2026 Pet Valu Canada Inc. 10
Slide 11: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA Quarters Ended Apr. 4, 2026 Mar. 29, 2025 (13 weeks) (13 weeks) Net income $20,047 $21,762 (1) Represents (i) discrete, project-based implementation costs associated with new information technology systems related to transformational initiatives supporting finance s
Slide 12: Reconciliation of Adjusted Net Income
Reconciliation of Adjusted Net Income Quarters Ended Apr. 4, 2026 Mar. 29, 2025 (13 weeks) (13 weeks) Net income $20,047 $21,762 (1) Represents (i) discrete, project-based implementation costs associated with new information technology systems related to transformational initiatives supporting finan
Slide 13: Reconciliation of Net Capital Expenditures
Reconciliation of Net Capital Expenditures Quarters Ended Apr. 4, 2026 Mar. 29, 2025 (13 weeks) (13 weeks) Purchases of property and equipment $(6,882) $(11,006) Purchases of intangible assets (769) (339) Proceeds on disposal of property and equipment ― 610 Tenant allowances 380 563 Net Capital Expe
Slide 14: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow Quarters Ended Apr. 4, 2026 Mar. 29, 2025 (13 weeks) (13 weeks) Cash provided by operating activities $33,471 $36,613 Cash used in investing activities 4,993 1,290 Tenant allowances 380 563 Repayment of principal on lease liabilities (19,315) (17,157) Interest paid o
Slide 15: Thank You
Thank You Contact Us: investors@petvalu.ca (289) 806-4559 This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted or redistributed, in whole or in part, without the prior written consent of Pet Valu Canada Inc. © 2026 Pet Valu Canada Inc.