Slide 1: Aimia Q2 2025 Presentation
Aimia Q2 2025 Presentation August 14, 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: Today's presenters
Today’s presenters Rhys Summerton Steve Leonard Executive Chairman President & CFO 4
Slide 5: Q2 highlights
Q2 highlights • Made progress against three-step strategy and sustained momentum of core holdings • Reached settlement with CRA and a total refund of $33M is expected • Renewed NCIB through June 2026 • On track to reduce HoldCo costs to $9M • Re-iterated adjusted EBITDA guidance for 2025 Completed p
Slide 6: Financial & Operating Results
Financial & Operating Results
Slide 7: Consolidated financial highlights
Consolidated financial highlights $ million except EPS Q2 2025 Q2 2024 • Improvements to key financial metrics driven by combination of factors Revenue $128.7 $122.4 Gross Profit $34.9 $31.5 • Revenue gains due to improved Gross Profit Margin 27.1% 25.7% customer demand at Cortland and positive F/X
Slide 8: Bozzetto financial highlights
Bozzetto financial highlights Revenue Adj. EBITDA* +4% +12% $Million $Million $90.9 $17.0 $16.9 91 90 $89.1 $16 89 $15.1 88 $87.4 $15 $14.5 87 $86.0 $14 86 $85.8 $13.4 80 $10 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 • Year-over-year growth largely due to positive • Adjusted EBITDA
Slide 9: Cortland International financial highlights
Cortland International financial highlights $Million Revenue $Million Adj. EBITDA* +36% +8% $7 $6.7 $44 $43.1 $42 $41.4 $6 $40.7 $5.4 $5.4 $40 $4.9 $37.8 $5 $38 $36 $35.0 $4 $3.6 $0 $0 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 • Year-over-year improvements driven by • Quarter-over-
Slide 10: Consolidated cash waterfall through June 30
Consolidated cash waterfall through June 30* $Million -$24.2 $2.7 $(9.4) $94.7 $9.4 $(8.2) $(6.4) $(5.2) $70.5 $(3.7) $(0.7) $(2.7) Q1 Cash Cashflow Kognitiv loan Bozzetto NCIB Interest on Bozzetto CAPEX Preferred Other Q2 Cash from repayment senior debt 2030 Notes interest share movements Operation
Slide 11: Q2 Liquidity
Q2 Liquidity Expected impacts to liquidity over next 12 months: Cortland $10.2 • Less than $9M of Holdco costs Bozzetto • $13.9M of interest payments for 2030 notes • $2.8M of dividend payments for preferred $70.5 $36.9 shares and $1.6M of Part VI tax expenses $23.4 Holdco • $20.1M of Bozzetto senio
Slide 12: Update on 2025 guidance
Update on 2025 guidance Guidance 2025 YTD New • Guidance for core holdings re-iterated for 2025* Results** Guidance 2024 Actuals for 2025 • Cost savings include reduced audit Adjusted EBITDA** at $88- Guidance* $44.2M $88- and professional services fees, lower Bozzetto and Cortland $95M $95M rent, a
Slide 13: Strategic Developments & Outlook
Strategic Developments & Outlook
Slide 14: Progress against 3-step strategy
Progress against 3-step strategy Reduce Share price Deploy capital 11. Reduce HoldCo Costs 022. Discount 3. effectively $1.4M of new cost-cutting Renewed NCIB in June to $33M tax refund is pending initiatives purchase up to 5.9M shares $4.5M of HoldCo costs YT Bought $8.2M of common Initiated steps
Slide 15: Progress against NCIB
Progress against NCIB Number of Aimia Shares Outstanding • NCIB renewed through June 2026 99,679,614 100,000,000 • Plan is to purchase up to 5.9M 98,000,000 shares 96,000,000 • Purchased more than 20% of 94,000,000 allowable shares to date 92,000,000 91,064,985 90,000,000 88,000,000 1-Jul-24 1-Oct-2
Slide 16: Updated valuation metrics
Updated valuation metrics In millions As at June 30, 2025 Net book value attributable to common $300.4 • Tax deposit is amount anticipated shareholders* from government agencies Cash & marketable securities $70.5 Investments in non-core holdings $16.8 • Unsecured notes due Jan. 2030 Tax deposit $33.
Slide 17: Measuring value creation
Measuring value creation $7.00 $6.48 • Aimia’s ongoing progress to be $6.50 measured against value created $6.00 $5.50 • Holdco costs will be tracked as a $5.00 $4.52 percentage of NAV $4.50 $4.00 $3.50 $3.26 $3.27 $3.69 Net book value per common share* $2.82 $3.00 $3.08 Aimia share price $2.50 $2.6
Slide 18: Summary and Outlook
Summary and Outlook • Q2 was a period of transition for Aimia • Marked by progress against 3-step strategy and momentum of core holdings • Priorities include achieving guidance, reducing HoldCo costs, and completing our NCIB • Efforts underway to determine market value of core holdings Aimia is tran
Slide 19: Questions?
Questions? AIMIA
Slide 20: TSX: AIM www.aimia.ca IRandMedia@corp.aimia.ca
TSX: AIM www.aimia.ca IRandMedia@corp.aimia.ca
Slide 21: Appendix Non-GAAP Financial Measures
Appendix Non-GAAP Financial Measures
Slide 22: Reconciliation of Adjusted EBITDA - Bozzetto
Reconciliation of Adjusted EBITDA Three Months Ended Six Months Ended Bozzetto June 30, June 30, (in millions of Canadian dollars) 2025 2024 2025 2024 Reconciliation of Adjusted EBITDA Operating income (loss) 10.8 3.7 22.9 13.1 Depreciation and amortization 6.1 5.6 12.1 11.0 Cost of sales expense re
Slide 23: Reconciliation of Adjusted EBITDA - Cortland International
Reconciliation of Adjusted EBITDA Three Months Ended Six Months Ended Cortland International June 30, June 30, (in millions of Canadian dollars) 2025 2024 2025 2024 Reconciliation of Adjusted EBITDA Operating income (loss) 0.7 (2.7) 2.1 (1.9) Depreciation and amortization 3.1 2.9 6.1 5.9 Cost relate
Slide 24: Reconciliation of Adjusted EBITDA - Holdings
Reconciliation of Adjusted EBITDA Three Months Ended Six Months Ended June 30, June 30, Holdings (in millions of Canadian dollars) 2025 2024 2025 2024 Reconciliation of Adjusted EBITDA Operating income (loss) (2.5) (8.0) (5.9) (18.9) Share-based compensation expense (reversal) 0.4 0.8 1.1 (1.1) Cost
Slide 25: Reconciliation of HoldCo costs
Reconciliation of HoldCo costs Three Months Ended Six Months Ended June 30, June 30, Holdings (in millions of Canadian dollars) 2025 2025 Selling, general and administrative expenses (2.5) (5.9) Share-based compensation expense (reversal) 0.4 1.1 Legal fees incurred in relation with CRA settlement 0