Slide 1: SunOpta Inc. Investor Presentation
SunOpta Inc. Investor Presentation © SunOpta Inc. 2023 August 2023 1
Slide 2: Forward Looking Statements
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 Forward Looking Statements This presentation may include forward-looking statements and therefore is subject to important risks and uncertainties. Actual results could differ materially from the conclusions, forecasts and proj
Slide 3: SunOpta is a Global, Healthy Food & Beverage Company with a Strong Focus on Sustainability
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 SunOpta is a Global, Healthy Food & Beverage Company with a Strong Focus on Sustainability We operate 2 Business Segments Plant-Based Foods & Beverages $883 Million TTM Q2 2023 Revenues Fruit-Based Foods & Beverages We are foc
Slide 4: 5 Reasons to Invest in SunOpta
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 5 Reasons to Invest in SunOpta ① We are a plant-based company with a strong commitment to ESG ② We participate in the #1 global food trend, plant-based foods and beverages We have competitive advantages in our plant-based segm
Slide 5: Key Facts
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 Key Facts Founded in Canada as a sustainability company Now headquartered in Eden Prairie, MN 1,450 associates 10 plants throughout North America More than 40 acquisitions over the past 15 years Go-to-market principally in co-
Slide 6: Timeline / History Chart
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 Timeline / History Chart 2003 1973 Name changed to SunOpta Inc. Company founded as Stake recognizing that the future of the 2016 Technologies Ltd (STKL) on 1999 Company was in natural and SunOpta became a patented technology A
Slide 7: Timeline / History Chart
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 Timeline / History Chart 2017 2019 2021 Initiated the Value Joe Ennen appointed Company acquired Creation Plan to drive 2017 to 2018 CEO in April and Scott 2019 to 2020 WestSoy and Dream 2022 strategic focus on Company focused
Slide 8: Five Strategic Imperatives
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 Five Strategic SunOpta hasthat Imperatives a Clear willSet of Strategic Deliver Priorities Outstanding Financial Results 8 © SunOpta Inc. 2023
Slide 9: SunOpta has a Solid Growth Plan to Continue Delivering Exceptional Shareholder Value
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 SunOpta has a Solid Growth Plan to Continue Delivering Exceptional Shareholder Value Adjusted EBITDA Trend (1) Continuing operations $89.4 $83.7 $58.7 $60.6 $ millions $43.7 Growth Plan $38.0 $19.5 • Invest in capacity and cap
Slide 10: SunOpta is Well Positioned to Compete in Growing On-Trend Categories
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 SunOpta is Well Positioned to Compete in Growing On-Trend Categories The Global Organic Food Market Category Revenue Growth Trends (2) is expected to have a CAGR of 15% Total Category Private Label over the next 5 years (1) 8.
Slide 11: We have seen Long-Term Sustained Growth in Plant-Based Milk
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 We have seen Long-Term Sustained Growth in Plant-Based Milk Total US Sales of Non-Dairy Milk at Current Prices Key insights(1) Plant-based milk is the growth engine of the milk category. Plant-based milk dollar sales grew 4% i
Slide 12: SunOpta Firmly Believes that Plant-Based is the Future of Food
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 SunOpta Firmly Believes that Plant-Based is the Future of Food Plant-based milk household penetration1 Usage Occasions, How People Are Consuming Non- Dairy Milks2 80% 76% 70% 60% 54% 53% 50% 40% 30% 20% 43% 40% 25% 21% 20% 11%
Slide 13: SunOpta's Internal Capabilities Align Well with the Macro Forces Supporting Plant-Based Eating
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 SunOpta’s Internal Capabilities Align Well with the Macro Forces Supporting Plant-Based Eating 70% of the total U.S. population is consuming plant-based foods, up from 66% one year ago. Plant-based milk remains the largest seg
Slide 14: We Believe that SunOpta is Well Positioned to Win in Plant-Based
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 We Believe that SunOpta is Well Positioned to Win in Plant-Based Competitive Costs driven through operating expertise and focus on productivity along with a geographically diverse manufacturing footprint Highest Quality from i
Slide 15: SunOpta has a Diverse & Impressive Base of Customers, Partners, and Brands
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 SunOpta has a Diverse & Impressive Base of Customers, Partners, and Brands Representative Retail and Foodservice Customer Base Representative Private Label Customers Representative Co-manufacturing Customers Branded Portfolio
Slide 16: SunOpta's Branded Portfolio brings Innovation to the Market
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 SunOpta’s Branded Portfolio brings Innovation to the Market 16 © SunOpta Inc. 2023
Slide 17: SunOpta is Driving Innovation in Plant-Based Foods & Beverages
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 SunOpta is Driving Innovation in Plant-Based Foods & Beverages (1) Product Categories Financial Trend $ millions • Plant-Based Beverages (soy, almond, oat, etc.) • Nutritional Beverages • Broths • Teas • Plant-Based Concentrat
Slide 18: SunOpta is Positioned to Win in Fruit-Based Foods & Beverages
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 SunOpta is Positioned to Win in Fruit-Based Foods & Beverages Product Categories Financial Trend $ millions • IQF Fruit for Retail • Fruit Solutions for Foodservice • Better-for-you snacking (bars, twists, ropes, and bite-size
Slide 19: SunOpta is Focused on Delivering Sustained Profitable Growth
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 SunOpta is Focused on Delivering Sustained Profitable Growth Our Focus Areas for 2023 Plant-Based Foods & Beverages Fruit-Based Foods & Beverages • Continue the startup of new lines at greenfield facility in • Complete expansi
Slide 20: We made significant progress against our ESG commitments in 2022
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 We made significant progress against our ESG commitments in 2022 and are making real progress evidenced by upgrades from two of the most respected rating agencies Operations Supply Chain Product / Packaging • Pursuing Zero Was
Slide 21: We are well positioned for long-term sustained growth
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 We are well positioned for long-term sustained growth PORTFOLIO ROLE GROWTH PROFILE ~$2B NUTRITION BEVERAGES Strategic – defined, high Accelerated Growth growth pockets with strong ~1.5x overall company BETTER-FOR-YOU SNACKS a
Slide 22: We are prioritizing three growth platforms that present outsized growth potential for SunOpta
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 We are prioritizing three growth platforms that present outsized growth potential for SunOpta Scaling Accelerating Expanding in Plant Based Better-For-You Snacking Nutritional Beverages ✓ Large & growing TAM ✓ Large & growing
Slide 23: Supported by best-in-class operating performance and execution
SunOpta Inc. Investor Presentation Fueling the Future of Food August 2023 Supported by best-in-class operating performance and execution Operational Scaled Aggressive Integrated Service Expertise Networks Investment Solutions Excellence Highest National, Added capacity & Tailored customer >99% LTM a
Slide 24: Appendix: Reconciliation of Non-GAAP Measures
Appendix Key Financial Metrics Reconciliation of Non-GAAP Measures This presentation includes certain measures not derived in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). Such measures should not be considered substitutes for any measures de
Slide 25: Income Statement
Key Financial Metrics Income Statement Continuing Operations ($ millions, except per share amounts) Q2 2023 YTD Q2 2022 YTD Revenues (1) $431.7 $483.7 Gross profit (2) $44.6 $63.3 As % of Revenue 10.3% 13.1% Operating income (3) (4) $(0.7) $12.1 As % of Revenue (0.2%) 2.5% Adjusted earnings (4) $3.0
Slide 26: Balance Sheet & Debt Capital
Key Financial Metrics Balance Sheet & Debt Capital As at ($ millions) July 1, 2023 $188.4 Working Capital (1) Total Assets $887.1 Asset-Based Credit Facilities $192.8 Five-year, $230 million asset-based revolving credit facility, subject to borrowing base capacity (the “Tranche A Subfacility”), a tw
Slide 27: Reconciliation of U.S. GAAP Results to Adjusted Earnings/Loss and Adjusted EPS
Reconciliation of U.S. GAAP Results to Adjusted Earnings/Loss and Adjusted EPS (Slide 25) The following table presents a reconciliation of adjusted earnings (loss) from loss from continuing operations, which we consider to be the most directly comparable U.S. GAAP financial measure. July 1, 2023 Jul
Slide 28: Reconciliation of U.S. GAAP Results to Operating Income/Loss and Adjusted EBITDA
Reconciliation of U.S. GAAP Results to Operating Income/Loss and Adjusted EBITDA (Slide 9 and 25) The following table presents a reconciliation of segment operating income and adjusted EBITDA from loss from continuing operations, which we consider to be the most directly comparable U.S. GAAP financi
Slide 29: Reconciliation of U.S. GAAP Results to Operating Income/Loss and Adjusted EBITDA
Reconciliation of U.S. GAAP Results to Operating Income/Loss and Adjusted EBITDA (Slide 9) The following table presents a reconciliation of segment operating income/loss and adjusted EBITDA from net earnings/loss, which we consider to be the most directly comparable U.S. GAAP financial measure. 2022
Slide 30: 7078 Shady Oak Road Eden Prairie, Minnesota 55344
7078 Shady Oak Road Eden Prairie, Minnesota 55344 www.sunopta.com © SunOpta Inc. 2023