Algoma Central Corporation · TSX:ALC
Algoma Central — Shareholder Meeting (May 2025)
33 slides from Algoma Central's shareholder meeting presentation, May 2, 2025
Slide 1: 2025 Annual General Meeting of Shareholders
2025 ANNUAL GENERAL MEETING OF SHAREHOLDERS May 2, 2025
Slide 2: Agenda
AGENDA • Formal Meeting o Elect Directors o Appoint Auditors • Business Presentation | 2
Slide 3: Elect Directors
ELECT DIRECTORS 1. Mats H. Berglund 6. Trinity O. Jackman 2. Richard B. Carty 7. Mark McQueen 3. Jens GrØnning 8. Clive P. Rowe 4. E.M. Blake Hutcheson 9. Gregg A. Ruhl 5. Duncan N.R. Jackman 10. Eric Stevenson | 3
Slide 4: Appoint Auditors
APPOINT AUDITORS Deloitte.
Slide 5: Forward Looking Statement
FORWARD LOOKING STATEMENT Certain statements in this document about our current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward-looking statements. Forward-looking statements
Slide 6: 2024 Accomplishments & Fleet Advancements
2024 Accomplishments & Fleet Advancements | 6
Slide 7: Algoma Endeavour Launch, February 2024
Algoma Endeavour Launch, February 2024 | 7
Slide 8: Algoma Bear, May 2024
Algoma Bear, May 2024 | 8
Slide 9: Fure Viken, September 2024
Fure Viken, September 2024 | 9
Slide 10: World's largest pneumatic cement carriers…coming soon.
Fure Viken, September 2024 World’s largest pneumatic cement carriers…coming soon. | 10
Slide 11: Algoma Acadian & Algoma East Coast Launch, December 2024
Fure Viken, September 2024 Algoma Acadian & Algoma East Coast Launch, December 2024 | 11
Slide 12: Algosolis, October 2024
Algosolis, October 2024 | 12
Slide 13: Three new methanol-ready Kamsarmax-based self-unloading vessels
Three new methanol-ready Kamsarmax-based ocean belt self-unloading vessels. | 13
Slide 14: Seaway Extension
Seaway Extension — [14
Slide 15: 2024 Financial Results
2024 FINANCIAL RESULTS | 15
Slide 16: Financial Snapshot: Non-GAAP Freight Revenue
FINANCIAL SNAPSHOT NON-GAAP FREIGHT REVENUE(1) $1,000 $900 $849 $800 $700 $647 $600 $500 $473 $400 $300 $200 $100 $- 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 31% increase (1) Freight revenue from each segment includes our proportionate share of freight 80% increase revenue from our res
Slide 17: Financial Snapshot: Share of Marine Segment Earnings
FINANCIAL SNAPSHOT SHARE OF MARINE SEGMENT EARNINGS 2024 2019 2014 11% 28% 27% 38% 25% 31% 28% 10% 44% 23% 34% Domestic Dry-Bulk Product Tankers Ocean Self-Unloaders Global Short Sea Shipping 83% increase 109% increase | 17
Slide 18: Financial Snapshot
FINANCIAL SNAPSHOT REPORTED REVENUE EBITDA NET EARNINGS RETURN ON EQUITY $800 $220 $140 20% $200 18% $700 $120 $180 16% $600 $160 $100 14% $500 $140 12% $80 $120 $400 10% $100 $60 8% $300 $80 $40 6% $200 $60 4% $40 $100 $20 $20 2% $- $- $- 0% 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 20
Slide 19: Domestic Dry-Bulk Financial Performance
DOMESTIC DRY-BULK FINANCIAL PERFORMANCE REVENUE EBITDA NET EARNINGS $450 $90 $70 $400 $80 $60 $350 $70 $50 $300 $60 $250 $40 $50 $200 $40 $30 $150 $30 $20 $100 $20 $10 $50 $10 $- $- $- 2022 2023 2024 2022 2023 2024 2022 2023 2024 Impact of impairment reversal. | 19
Slide 20: Product Tankers Financial Performance
PRODUCT TANKERS FINANCIAL PERFORMANCE REVENUE EBITDA NET EARNINGS $160 $35 $16 $140 $30 $14 $120 $12 $25 $100 $10 $20 $80 $8 $15 $60 $6 $10 $40 $4 $20 $5 $2 $- $- $- 2022 2023 2024 2022 2023 2024 2022 2023 2024 | 20
Slide 21: Ocean Self-Unloaders Financial Performance
OCEAN SELF-UNLOADERS FINANCIAL PERFORMANCE REVENUE EBITDA NET EARNINGS $220 $80 $50 $200 $45 $70 $180 $40 $160 $60 $35 $140 $50 $30 $120 $40 $25 $100 $20 $80 $30 $60 $15 $20 $40 $10 $20 $10 $5 $- $- $- 2022 2023 2024 2022 2023 2024 2022 2023 2024 | 21
Slide 22: Global Short Sea Shipping Financial Performance
GLOBAL SHORT SEA SHIPPING FINANCIAL PERFORMANCE FREIGHT REVENUE EBITDA EQUITY EARNINGS $160 $60 $35 $140 $30 $50 $120 $25 $40 $100 $20 $80 $30 $15 $60 $20 $10 $40 $10 $5 $20 $- $- $- 2022 2023 2024 2022 2023 2024 2022 2023 2024 (1) Freight Revenue from the Global Short Sea segment is not included in
Slide 23: Shareholder Returns
SHAREHOLDER RETURNS DIVIDENDS PAID PER SHARE TOTAL SHAREHOLDER RETURN (TSR) $3.50 $200 $3.00 $175 $154 $2.50 $150 $2.00 $125 $100 $100 $1.50 $75 $1.00 $50 Annual Return: 9.06% $0.50 $25 $- 2020 2021 2022 2023 2024 2025 $0 Regular Dividend Special Dividend 2019 2020 2021 2022 2023 2024 | 23
Slide 24: 2025 First Quarter Results
2025 FIRST QUARTER RESULTS | 24
Slide 25: Financial Snapshot Q1 2025
FINANCIAL SNAPSHOT Q1 2025 FREIGHT REVENUE REPORTED REVENUE EBITDA NET LOSS $160 $120 $- $- $140 $(1) $100 $(2) $(5) $120 $100 $80 $(3) $(10) $(4) $80 $60 $(5) $60 $(15) $40 $(6) $40 $(7) $(20) $20 $20 $(8) $- $- $(9) $(25) 2023 2024 2025 2023 2024 2025 2023 2024 2025 2023 2024 2025 | 25
Slide 26: Domestic Dry-Bulk Financial Performance
DOMESTIC DRY-BULK FINANCIAL PERFORMANCE REVENUE EBITDA NET LOSS $40 $(26) $(23) $(26) $(24) $35 $(27) $(24) $30 $(27) $(25) $25 $(28) $(25) $20 $(28) $(26) $15 $(29) $(26) $(29) $10 $(27) $(30) $5 $(30) $(27) $- $(31) $(28) Q1 2023 Q1 2024 Q1 2025 Q1 2023 Q1 2024 Q1 2025 Q1 2023 Q1 2024 Q1 2025 | 26
Slide 27: Product Tankers Financial Performance
PRODUCT TANKERS FINANCIAL PERFORMANCE REVENUE EBITDA NET EARNINGS $40 $9 $5 $8 $5 $35 $4 $30 $7 $4 $6 $25 $3 $5 $20 $3 $4 $2 $15 $3 $2 $10 $2 $1 $5 $1 $1 $- $- $- Q1 2023 Q1 2024 Q1 2025 Q1 2023 Q1 2024 Q1 2025 Q1 2023 Q1 2024 Q1 2025 | 27
Slide 28: Ocean Self-Unloaders Financial Performance
OCEAN SELF-UNLOADERS FINANCIAL PERFORMANCE REVENUE EBITDA NET EARNINGS $50 $16 $9 $45 $14 $8 $40 $7 $12 $35 $6 $30 $10 $5 $25 $8 $4 $20 $6 $3 $15 $4 $2 $10 $5 $2 $1 $- $- $- Q1 2023 Q1 2024 Q1 2025 Q1 2023 Q1 2024 Q1 2025 Q1 2023 Q1 2024 Q1 2025 | 28
Slide 29: Global Short Sea Shipping Financial Performance
GLOBAL SHORT SEA SHIPPING FINANCIAL PERFORMANCE FREIGHT REVENUE(1) EBITDA(2) EQUITY EARNINGS(2) $35 $9 $2.5 $30 $8 $2.0 $7 $25 $6 $20 $1.5 $5 $15 $4 $1.0 $3 $10 $2 $0.5 $5 $1 $- $- $- Q1 2023 Q1 2024 Q1 2025 Q1 2023 Q1 2024 Q1 2025 Q1 2023 Q1 2024 Q1 2025 (1) Freight Revenue from the Global Short Se
Slide 30: 2025 Business Outlook
IMPORT | 2025 : BUSINESS 5 OUTLOOK == JIN
Slide 31: 2025 Outlook Revenue by Industry Sector
Other Bulk Power Generation 2025 OUTLOOK 1.8% 7.3% REVENUE BY Petroleum Products 23.5% INDUSTRY SECTOR Iron & Steel 17.4% Salt 10.5% Construction 24.6% Agriculture 14.9% | 31
Slide 32: Vision
VISION OUR ROAD! e @ wm & & T (@) 2030 = | Integrity Sustainability Teamwork Ownership Passion Support our ‘Comply with Achieve Ensure Deliver people to regulation efficiencies optimal maximum perform at and shape in costs and investment value to our their best. public policy. resources. management.
Slide 33: Thank You
THANK YOU ALGOMA CENTRAL CORPORATION 63 Church Street, Suite 600 St. Catharines, ON L2R 3C4 Canada +1 (905) 687-7888 | algonet.com