Canada Packers Inc. · TSX:CPKR
Canada Packers — Q1 2026 Earnings Presentation
16 slides from Canada Packers's earnings presentation, Apr 30, 2026
Slide 1: First Quarter 2026 Financial & Business Results
First Quarter 2026 Financial & Business Results PRIVATE & CONFIDENTIAL 1
Slide 2: Forward Looking Information and Non-IFRS Metrics
FORWARD LOOKING INFORMATION AND NON-IFRS METRICS This presentation contains “forward-looking information” within the meaning of applicable securities law. These statements are based on current expectations, estimates, forecasts, and projections about the industries in which the Company operates, as
Slide 3: A legacy of performance. A future of sustainable growth.
A legacy of performance. A future of sustainable growth. Canada Packers is setting a new global standard for premium, sustainable pork. With nearly a century of expertise, we lead in sustainably produced, premium pork, shaping the future of food. Our vertically integrated model, diverse product rang
Slide 4: Q1 2026: Consistent Execution and Resilient Profitability
Q1 2026: CONSISTENT EXECUTION AND RESILIENT PROFITABILITY Actual vs Pro forma sales2 • Strong results with performance gains offset by ($ millions) currency headwinds in the quarter, underscoring the $431 -0.6% $428 durability of earnings • Q1 2026 actuals versus 2025 pro forma2 comparatives: • Sale
Slide 5: Best in Class Performance Grounded in Our Core Strategies
BEST IN CLASS PERFORMANCE GROUNDED IN OUR CORE STRATEGIES Performance driven by: Targeted sales of premium value-added products sold across our strategic customer base Optimized whole hog profitability through diverse mix of markets Increased hog processing volumes using latent capacity Strong on-fa
Slide 6: Performance That Reinforces Our Robust 'Chapter One' Growth Story
PERFORMANCE THAT REINFORCES OUR ROBUST 'CHAPTER ONE' GROWTH STORY 1. Utilized existing capacity • Higher processing volumes – processed 2% more hogs in the quarter • Utilization stands at ~80% capacity 2. Resilient profitability • Adjusted EBITDA Margin1 of 9.8%, despite year-over-year currency head
Slide 7: Leveraging Our Distinctive and Optimized Business Mix to Deliver Results
LEVERAGING OUR DISTINCTIVE AND OPTIMIZED BUSINESS MIX TO DELIVER RESULTS KEY PILLARS OF 2025 REVENUE(1) DESCRIPTION Each channel is anchored on strategic BUSINESS MODEL (% of total) customers with long history of relationship • Customer-specific offerings such as Balanced exposure across markets tha
Slide 8: Gold-Standard Branded Products with Strategic Customers Around the World
WE DELIVERED GOLD-STANDARD BRANDED PRODUCTS WITH STRATEGIC CUSTOMERS AROUND THE WORLD MAKING US DISTINCTIVE AND DIFFERENTIATED NORTH AMERICAN RETAIL MARKETS JAPANESE MARKET MAPLE LEAF FOODS TAILORED, VALUE-ADDED OFFERINGS FOR KEY CO-BRANDS WITH STRATEGIC CUSTOMERS, TARGETING SUSTAINABLE, PREMIUM POR
Slide 9: Q1 Pork Markets in Line with Normalized Ranges
Q1 PORK MARKETS IN LINE WITH NORMALIZED RANGES Vertically Integrated Margin USDA Pork Cutout - Industry Hog Production Cost ,- ------------- - - Industry Vertically Integrated Margin seasonally increasing in Q1 2026, stable compared to normalized Q1 market. I $140 ~ USDA Pork Cutout - Industry Hog P
Slide 10: Our Q1 Performance Reinforces Canada Packers' Value Proposition
OUR Q1 PERFORMANCE REINFORCES CANADA PACKERS’ VALUE PROPOSITION Exceptional Profitability and Clear Pathway to Profit Strong Cash Flow With a Focus Durability Driven By Distinctive Accretive Growth Fueled by on Long-Term Shareholder and Optimized Business Mix Untapped Capacity Value Driven by Anchor
Slide 11: Q1 2026 Results
Q1 2026 RESULTS Q1 Results Q1 2026 Q1 2025 Change Sales $428.3 $452.0 (5.2%) Gross profit $92.9 $69.3 34.1% SG&A $24.3 $18.2 33.3% Adjusted Operating Earnings1 $29.8 $38.2 (22.0%) Adjusted EBITDA1 $42.1 $49.6 (15.1%) Adjusted EBITDA margin1 9.8% 11.0% (120 bps) Adjusted Free Cash Flow1 $27.2 $38.9 (
Slide 12: Supplemental Financial Slides
Supplemental Financial Slides Q1 2026 PRIVATE & CONFIDENTIAL 12 CANADA PACKERS – Q1 2026 BUSINESS AND FINANCIAL REVIEW | April 30, 2026
Slide 13: EBITDA and Adjusted EBITDA Margin
Reconciliation of non-IFRS metrics – Adjusted Operating Earnings, Adjusted EBITDA and Adjusted EBITDA Margin Three months ended ($ millions except margin)(i) (Unaudited) March 28, 2026 March 29, 2025 Earnings before income taxes $ 59.7 $ 46.8 Interest expense 7.1 1.2 Other expense(ii) 1.9 3.1 Earnin
Slide 14: Reconciliation of non-IFRS metrics – Adjusted Free Cash Flow
Reconciliation of non-IFRS metrics – Adjusted Free Cash Flow ($ millions) Three months ended (Unaudited) March 28, 2026 March 29, 2025 Cash provided by operating activities $20.1 $39.6 Additions to long-term assets $(5.3) $(7.9) Free Cash Flow $14.8 $31.7 Changes in non-cash operating working capita
Slide 15: Reconciliation of non-IFRS metrics – Total Company Net Debt
Reconciliation of non-IFRS metrics – Total Company Net Debt ($ millions) For the period ended (Unaudited) March 28, 2026 Cash $46.0 Long-term debt $386.3 Net Debt $340.3 Trailing Twelve Months Adjusted EBITDA1 $200.1 Net Debt to Trailing Twelve Months Adjusted EBITDA1 1.7x Net Debt, including lease
Slide 16: Management's pro forma estimates and related Non-IFRS measures
Management’s pro forma estimates and related Non-IFRS measures Trailing Twelve Quarter Ended Months Ended (in millions of CAD) September 27, December 27, March 29, 2025 June 28, 2025 March 28, 2025 March 28, 2026 (unaudited) 2025 2025 Pro Forma Pro Forma Pro Forma Actual Actual Sales $ 452 $ 473 $ 4