Aimia Inc. · TSX:AIM
Aimia — Shareholder Meeting (May 2025)
26 slides from Aimia's shareholder meeting presentation, May 21, 2025
Slide 1: 2025 Annual Meeting of Shareholders
Aimia 2025 Annual Meeting of Shareholders May 21, 2025
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 beli
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: Key developments since 2024 AGM
Key developments since 2024 AGM • Delivered solid financial results and achieved guidance for FY2024 • Signed cooperation agreement with largest investor • Launched NCIB • Generated $53.8M gain from SIB • Optimized Board size • Initiated 3-pronged strategy for value creation Aimia has made considera
Slide 5: Consolidated financial highlights
Consolidated financial highlights Revenue Adj. EBITDA* +6% +194% $Million $Million $130 $129.8 $19.7 $20 $129.1 $17.3 $129 $15.0 $15 $128 $12.3 $127.2 $10 $122.4 $122.1 $6.7 $0 $0 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 • Revenue grew despite geo-political and • Reduction in SG&A
Slide 6: Achieved 2024 guidance
Achieved 2024 guidance Guidance for 2024 2024* Results*** Cortland 2024 Guidance* Actuals $21.9 Adjusted EBITDA at $80 - $85M $80.4M** Bozzetto and Cortland 2024 Adjusted Holdco Costs $13M $12M EBITDA* $M $58.5 Bozzetto Guidance achieved due to solid performance of core holdings * Adjusted EBITDA an
Slide 7: Aimia's core holdings: Bozzetto
Aimia’s core holdings: Bozzetto • Specialty chemicals producer of sustainable textile, dispersion and water solutions • 100+ years of operations • 1,800 global customers in multiple end markets • Track record of cash flow growth • Generated $348.3M or revenue and $60M of adj. EBITDA TTM* • Expanded
Slide 8: Bozzetto's diverse market applications
Bozzetto’s diverse market applications Textile Solutions Dispersion Solutions Water Solutions Markets Apparel & fashion; Home Plasterboard; Concrete; Home care; Industrial textiles; Safety & protection Agrochemical; Mining cleaning; Personal Care; materials; Automotive Indusrial water treatment Key
Slide 9: Aimia's core holdings: Cortland International
Aimia’s core holdings: Cortland International • Brings together Tufropes and Cortland Industrial • High-performance rope and netting solutions • Diverse product mix and customer base • Key markets include: Marine & Shipping, Fishing & Aquaculture, Offshore Energy • 6 production facilities in North A
Slide 10: Cortland's diverse market applications
Cortland’s diverse market applications Tufropes Cortland Markets Commercial fishing; Marine shipping Offshore oil and gas; Mining; Aerospace and defense Key Drivers Growing demand for high-performance Increasing requirement for high performance, ropes; Growth of aquaculture segment lightweight ropes
Slide 11: Other key developments
Other key developments AIMIA
Slide 12: Cooperation agreement with Mithaq
Cooperation agreement with Mithaq • Eliminated uncertainty and overhang on share price • Dismissed all outstanding litigation • Mithaq named two nominees to Aimia’s Board • Mithaq agreed to vote all of its shares in favor of management Represents alignment with Aimia’s largest shareholder 12
Slide 13: $54M net gain from SIB
$54M net gain from SIB In millions • 7.9M preferred shares tendered for Preferred shares - Carrying Value* $235.9 9.75% unsecured senior notes Preferred Issuance Costs* $(4.8) • Notes due in 2030 Net Carrying Value of Preferred Shares* $231.1 • Annual cash savings of $5.1 million due Preferred Share
Slide 14: Optimized board
Optimized board Steve Leonard - President & CFO Rhys Summerton – Exec Chair 35 years of finance and executive 25 years of capital markets and leadership experience. Joined Aimia in investment management experience 2010. Rob Feingold Tom Little, ICD.D Accomplished financial professional Accomplished
Slide 15: Strategic Direction and Outlook
Strategic Direction and Outlook
Slide 16: Path going forward
Path going forward Allocate Utilize capital tax loss carry effectively forwards - Identify undervalued companies Reduce share price - Make equity investments discount - Acquire controlling interests - Utilize tax loss carry forwards - Renew NCIB for 2026 Reduce Holdco - Determine the value of core c
Slide 17: Commitment towards reducing Holdco costs
Commitment towards reducing Holdco costs • Thorough review of Holdco costs and budget completed • Numerous opportunities for cost savings identified • Director compensation Goal is to • Audit fees have Holdco • Insurance costs at or • Professional services below 1.5% • Office rent of NAV • Software
Slide 18: Progress against NCIB
Progress against NCIB* Total available shares Share buybacks by month 494,300 % Remaining % Purchased 39% 234,900 211,200 207,400 7,009,622 141,800 61% 25-Jan 25-Feb 25-Mar 25-Apr 25-May NCIB renewal for 2025 is pending regulatory approval *As at May 16, 2025 18
Slide 19: Aimia has more than $1,010M in tax losses carry forward
Aimia has more than $1,010M in tax losses carry forward • Aimia’s capital losses can be used to shield future capital gains or to shield the repatriation of cash from subsidiaries Available Tax • Operating losses can be used to shield $499.0 $511.3 Losses profits of new businesses acquired $Millions
Slide 20: Summary and Outlook
Summary and Outlook • Q1 results put Aimia on track to reach 2025 guidance • Near-term focus will be to sustain performance of core holdings and transition Aimia into a permanent capital vehicle • Progress will be measured by reduced Holdco costs, narrower share price discount to NAV, and effective
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 FY2024 Adjusted EBITDA
Reconciliation of FY2024 Adjusted EBITDA FY 2024 Cortland (in millions of Canadian dollars) Bozzetto International Holdings Consolidated Reconciliation of Adjusted EBITDA Operating income (loss) 28.5 (24.1) (27.4) (23.0) Depreciation and amortization 23.4 12.0 - 35.4 Impairment charge - 28.7 - 28.7
Slide 25: Reconciliation of Q1 2025 Adjusted EBITDA
Reconciliation of Q1 2025 Adjusted EBITDA Q1 2025 Cortland (in millions of Canadian dollars) Bozzetto International Holdings Consolidated Reconciliation of Adjusted EBITDA Operating income (loss) 12.1 1.4 (3.4) 10.1 Depreciation and amortization 6.0 3.0 - 9.0 Share-based compensation expense (revers
Slide 26: Reconciliation of Holdco Costs
Reconciliation of Holdco Costs Holdings segment (in millions of Canadian dollars) FY 2024 Q1 2025 Reconciliation of Holdco Costs Holdings segment Selling, general and administrative expenses 27.4 3.4 Shareholders activism related expenses (12.1) - Share-based compensation (expense) reversal 0.3 (0.7