Slide 1: Investor Update Fall 2024
INVESTOR UPDATE Fall 2024 We acquire COMPANIES and strive to improve their PERFORMANCE! Keeping the Economy Moving!
Slide 2: Disclaimer
DISCLAIMER This report contains forward-looking statements which reflect management’s expectations regarding Mullen Group Ltd.’s (“Mullen Group”) future growth, financial condition, results of operations, performance, business prospects, strategies and opportunities. Wherever possible, words such as
Slide 3: Mullen Group Executive Team
MULLEN GROUP EXECUTIVE TEAM MURRAY K. JOANNA K. MULLEN SCOTT Chair, Senior Executive Officer & Senior Corporate Officer President Tenure: 10 years Tenure: 49 years Previous experience and oversight: Legal, Previous experience: Joined Mullen after human resources, strategy, M&A and receiving a BA in
Slide 4: Agenda
AGENDA 1 MULLEN GROUP OVERVIEW 2 KEY INVESTMENT HIGHLIGHTS 4
Slide 5: Mullen at a Glance
MULLEN AT A GLANCE Overview Key Statistics • Mullen Group is an investment company with a focus on acquiring companies in the logistics industry 40 Business • Mullen has one of the largest logistics portfolio of companies in North C$653M C$2.0Bn C$2B America, that provides a wide range of transporta
Slide 6: Expanded and Diversified into a Multi-Disciplinary Transportation and Logistics Platform
MULLEN HAS EXPANDED AND DIVERSIFIED INTO A MULTI-DISCIPLINARY TRANSPORTATION AND LOGISTICS PLATFORM Total revenue (C$ in millions) 2000 2024 | Refinanced private placement debt (C$400m); 1500 C$525M of bank lines available 1993 | Mullen lists on the Toronto Stock Exchange 2021 | Completed six acquis
Slide 7: Mullen Segment Overview
MULLEN SEGMENT OVERVIEW Specialized & Industrial Less-Than-Truckload Logistics & Warehousing U.S. & International Logistics Services 29% 24% 9% 38% REVENUE • Largest final mile network in western • One of Canada’s premier logistics • Offers a wide range of logistics • Serves Canada’s natural resourc
Slide 8: Segment Overview: Less-Than-Truckload
SEGMENT OVERVIEW: LESS-THAN-TRUCKLOAD Overview Company vs. Contractors Revenue Mix Key Statistics • Operates the largest final mile network in western Canada and Ontario with service capabilities extending into the United States Company Contractors 11 3,800 139 Business • Owns and operates a network
Slide 9: Segment Overview: Logistics & Warehousing
SEGMENT OVERVIEW: LOGISTICS & WAREHOUSING Overview Company vs. Contractors Revenue Mix Key Statistics • Provides transportation and logistics solutions to customers throughout North America • Diverse network of terminals and transload facilities Company Contractors 11 2,200 62 Business providing saf
Slide 10: Segment Overview: Specialized & Industrial Services
SEGMENT OVERVIEW: SPECIALIZED & INDUSTRIAL SERVICES Overview Company vs. Contractors Revenue Mix Key Statistics • Servicing Canada’s natural resources and infrastructure sectors • Diverse sets of specialized services includes those Company Contractors 17 1,500 61 Business that support the energy, mi
Slide 11: Segment Overview: U.S. & International Logistics
SEGMENT11 OVERVIEW: U.S. & INTERNATIONAL LOGISTICS Overview Key Statistics • The U.S. & International Logistics segment currently consists of one Business Unit, HAUListic 1 2,700 6,000 • HAUListic owns a leading edge integrated Business Customers in Sub-contractor transportation management system, b
Slide 12: Strategic Priorities: Diversity & Discipline
STRATEGIC PRIORITIES: DIVERSITY & DISCIPLINE 1 2 3 4 Maximize Commitment to Prioritize Margin Maintain Balance Operational Quality and over Market Sheet Flexibility: Performance of Leadership Share: work with Maintain well our Development Business Units to structured balance Self-Managed drive proce
Slide 13: Agenda
AGENDA 1 MULLEN GROUP OVERVIEW 2 KEY INVESTMENT HIGHLIGHTS 13
Slide 14: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS 1 Leading, defensible and growing market positions in global transportation and logistics 2 Superior resiliency as demonstrated by Mullen’s 2024 performance 3 Stable and diversified blue-chip customer base 4 Over 10 years of positive FCF generation highlights superior cross
Slide 15: Leading, Defensible and Growing Market Positions in North American Transportation and Logistics
LEADING, DEFENSIBLE AND GROWING MARKET POSITIONS IN NORTH AMERICAN TRANSPORTATION AND LOGISTICS Less-Than-Truckload Logistics & Warehousing ONE OF CANADA’S PREMIER LOGISTICS LARGEST FIRST & FINAL MILE NETWORK AND WAREHOUSING COMPANIES IN WESTERN CANADA AND ONTARIO SERVING ALL OF NORTH AMERICA Specia
Slide 16: Years of Positive FCF Generation Highlights Superior Cross-Cycle Performance
OVER 10 YEARS OF POSITIVE FCF GENERATION HIGHLIGHTS SUPERIOR CROSS-CYCLE PERFORMANCE Free Cash Flow (C$ in millions)1 FCF conversion 2 (%) 300 Free Cash Flow FCF conversion 100.0% Includes C$18m of net capex for Jays Regina 90.0% and Edmonton Premay 250 Equipment Facility 80.0% Free Cash Flow Conver
Slide 17: Large, High Quality Real Estate Asset Base
LARGE, HIGH QUALITY REAL INFRASTRUCTURE ANDESTATE ASSET BASE FACILITIES Large real estate portfolio with a historical cost of ~C$653mm # of Owned # of Leased Segment Properties Facilities Less-Than-Truckload 77 62 Logistics and Warehousing 26 36 Specialized and Industrial Services 42 19 US & Interna
Slide 18: 2024 Business Plan: Priorities
2024 Business PRIORITIES… Plan: 1. Capital Investments: $80.0 million in new, more efficient operating assets, exclusive of corporate acquisitions or investment in facilities, land and buildings. $70.0 million: Maintenance Capital - to improve our Business Units $10.0 million Sustainability Focu
Slide 19: If you got it… A truck driver brought it.
“If you got it… A TRUCK DRIVER brought it.”
Slide 20: Appendix – Other Financial Measures
Appendix – Other Financial Measures, which consist of supplementary financial measures Supplementary Financial Measures Supplementary financial measures are financial measures disclosed by a company that (a) are, or are intended to be, disclosed on a periodic basis to depict the historical or expect
Slide 21: Appendix – Other Financial Measures - continued
Appendix – Other Financial Measures, which consist of supplementary financial measures - continued Net Capital Expenditures Net capital expenditures are calculated by subtracting the amount of cash received from the sale of property, plant and equipment from the amount of cash used to purchase prope