Slide 1: SunOpta Inc. Earnings Presentation Q3 2025
SunOpta Inc. Earnings Presentation 1 Q3 2025 © SunOpta Inc. 2025 1
Slide 2: General Disclosures
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 General Disclosures This presentation contains forward-looking statements that reflect the Company’s current views about future events and financial performance. These forward-looking statements are subject
Slide 3: Agenda for Today's Call
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Agenda for Today’s Call ➢ Third Quarter 2025 Performance ➢ Near-Term Operational Opportunities ➢ Reiterate Long-Term Value Creation Potential © SunOpta Inc. 2025 3
Slide 4: Business Update
Business Update © SunOpta Inc. 2022 © SunOpta Inc. 2025 4
Slide 5: Robust Growth and Strong Performance Across Key Metrics in Q3 2025
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Robust Growth and Strong Performance Across Key Metrics in Q3 2025 Representative Retail and Foodservice Customer Base METRIC Q3 2025 YoY GROWTH FINANCIAL • Sustained, double- digit Revenue and Revenue From
Slide 6: Broad-based Revenue Growth in the Quarter Demonstrates Ongoing Commercial Momentum
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Broad-based Revenue Growth in the Quarter Demonstrates Ongoing Commercial Momentum FOOD & BEVERAGE SUNOPTA Q3 REVENUE GROWTH BY SEGMENT BENCHMARKS(1)(2) 17% 1% 0% Total Revenue Tea Plant-Based Broth Protein
Slide 7: Coffee Chains are Growing Faster than the Market and Fueling Plant-based Demand
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Coffee Chains are Growing Faster than the Market and Unit Growth and Menu Innovation are Fueling Demand for Plant-based Offerings Foodservice Beverage Sales Combination of coffee chain unit growth / refurbis
Slide 8: Stretching our Operations to Satisfy Customers' Growth Needs Presented Short-term Challenges
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Stretching our Operations to Satisfy Customers’ Growth Needs Presented Short-term Challenges to our Supply Chain We successfully scaled ...However, accommodating this growth presented production to meet dema
Slide 9: Fundamentals Remain Intact Underpinning Confidence in Delivering our Growth Algorithm
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Fundamentals Remain Intact Underpinning Confidence in Delivering our Growth Algorithm Vigorous Demand Winning Value Disciplined Capital Environment Proposition Allocation • Customer and channel • Leader in h
Slide 10: Financial Results & Outlook
Financial Results & Outlook © SunOpta Inc. 2022 © SunOpta Inc. 2025 10
Slide 11: Q3 2025 Financial Update
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Q3 2025 Financial Update REVENUE in $ millions • Revenue of $205 million grew 17% vs. prior-year $205 +17% period and continues to be driven by volume $176 growth (17%) • Adjusted EBITDA(1) from continuing o
Slide 12: Updated 2025 Outlook
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Updated 2025 Outlook in $ millions FY25 Outlook Metric FY25 Outlook • Raising revenue outlook to $814-$818M reflecting both the strong performance in Q3 Revenue $812-$816 and continued strength in demand • A
Slide 13: Capital Allocation Priorities
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Capital Allocation Priorities Representative Retail and Foodservice Customer Base 1 2 3 Debt Invest For Return Capital to Repayment Growth Shareholders • Use of free cash flow in • Capacity investments • Ret
Slide 14: Investment in Additional Manufacturing within our Beverages and Broths Product Category
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Investment in Additional Manufacturing within our Beverages and Broths Product Category Representative Retail and Foodservice Customer Base • Business pipeline and category demand are exceeding expectations
Slide 15: Temporary Issues within Beverages and Broths Facilities Impacting 4th Quarter Outlook
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Temporary Issues within Beverages and Broths Facilities Impacting 4th Quarter Outlook Compared to Prior Expectation Midlothian Accelerated Volume Prioritizing Midlothian Q4 Wastewater Impact on the Rest of S
Slide 16: Compelling Long-term Growth Algorithm Underwrites Sustained Value Creation
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Compelling Long-term Growth Algorithm Underwrites Sustained Value Creation METRIC AMBITION ASSUMPTIONS Annual Revenue Sustained growth supported by unlocking capacity from 8-10% Growth existing assets Gross
Slide 17: Q&A
Q&A © SunOpta Inc. 2022 © SunOpta Inc. 2025 17
Slide 18: Key Takeaways
SunOpta Inc. Earnings Presentation Better Beverages, Better Snacks, Better Solutions Q3 2025 Key Takeaways Q3 reflected another quarter of exceptional volume growth − We had the opportunity to accelerate several pipeline opportunities with marquee customers, and we capitalized on it Line of sigh
Slide 19: Appendix
Appendix © SunOpta Inc. 2022 © SunOpta Inc. 2025 19
Slide 20: Reconciliation of U.S. GAAP Results to Adjusted EBITDA
Reconciliation of U.S. GAAP Results to Adjusted EBITDA The following table presents a reconciliation of adjusted EBITDA from continuing operations from earnings (loss) from continuing operations, which we consider to be the most directly comparable U.S. GAAP financial measure. (Figures in $ thousand
Slide 21: Reconciliation of U.S. GAAP Results to Adjusted Earnings Per Share
Reconciliation of U.S. GAAP Results to Adjusted Earnings Per Share The following table presents a reconciliation of adjusted earnings from earnings (loss) from continuing operations, which we consider to be the most directly comparable U.S. GAAP financial measure. (Figures in $ thousands, except per
Slide 22: Reconciliation of Trailing Four Quarters Earnings (Loss) to Adjusted EBITDA
Reconciliation of Trailing Four Quarters Earnings (Loss) From Continuing Operations to Trailing Four Quarters Adjusted EBITDA The following table presents a reconciliation of adjusted EBITDA from continuing operations from earnings (loss) from continuing operations, which we consider to be the most
Slide 23: Reconciliation of Total Debt to Net Debt and Calculation of Net Leverage
Reconciliation of Total Debt to Net Debt and Calculation of Net Leverage The following table presents a reconciliation of certain non-GAAP measures used in this presentation to, what we consider to be, the most directly comparable U.S. GAAP financial measure. (Figures in $ thousands) $ As at Septemb
Slide 24: Reconciliation of Trailing Four Quarters Loss to Adjusted EBITDA
Reconciliation of Trailing Four Quarters Loss From Continuing Operations to Trailing Four Quarters Adjusted EBITDA The following table presents a reconciliation of adjusted EBITDA from continuing operations from loss from continuing operations, which we consider to be the most directly comparable U.
Slide 25: Reconciliation of Total Debt to Net Debt and Calculation of Net Leverage
Reconciliation of Total Debt to Net Debt and Calculation of Net Leverage The following table presents a reconciliation of certain non-GAAP measures used in this presentation to, what we consider to be, the most directly comparable U.S. GAAP financial measure. (Figures in $ thousands) $ As at June 28
Slide 26: 7078 Shady Oak Road
7078 Shady Oak Road Eden Prairie, Minnesota 55344 www.sunopta.com © SunOpta Inc. 2025 26