Slide 1: Conference Call Presentation Q2-25
Conference Call Presentation Q2-25 For the quarter ended March 31, 2025
Slide 2: Caution Regarding Forward Looking Statements
Caution Regarding Forward Looking Statements Certain information included in this document is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally ac
Slide 3: Q2-25 Results
Q2-25 Results Impacted by the ITCS segment Revenue Growth (Q2-25 vs Q2-24) Revenue Growth (YTD Q2-25 vs YTD Q2-24) ITCS Rest of business Consolidated ITCS Rest of business Consolidated 10% 7% 10% 5% 6% 5% 0% -5% 0% -4% -1% -10% -5% -15% -10% -20% -25% -15% -15% -30% -25% -20% © 2024 Calian Group Ltd
Slide 4: Update on Defence Opportunity
Update on Defence Opportunity Defence solutions = 49% of LTM consolidated revenues Annual Defence Revenues (in millions of $) 363 330 Highlights 271 235 10% • $1B of pipeline in Europe 228 185 • Progressing on FOCI in the U.S. • CAF cuts in Canada tapering off in Q3 • Canadian federal election behin
Slide 5: Portfolio Review
Portfolio Review Capture significant tailwinds in defence, health and space 1 Explore options for non-core or underperforming assets 2 Refine our go-to-market approach 3 Double-down on high-growth areas 4 Optimize our cost structure 5 Reassess our capital allocation priorities © 2024 Calian Group Lt
Slide 6: Acquisition of AMS
Acquisition of AMS A provider of healthcare services to the Canadian North 1 Broadens our healthcare solutions service offering 2 Expands and strengthens our geographic footprint Provides Calian with a strategic footprint in the North at a time Enables cross selling for both government and 3 when th
Slide 7: FY25 Q2 KPIs - Revenue & Adj. EBITDA
FY25 Q2 KPIs - Revenue & Adj. EBITDA Results were impacted by the underperformance of ITCS Adj. EBITDA1,2 & Margin1,2 Revenues (in millions of $, except margin) (in millions of $) 747 745 100 92 659 79 90 22.0% 582 69 70 80 518 Excluding ITCS, 70 56 17.0% 60 50 12.3% organic growth would have 11.9%
Slide 8: FY25 Q2 KPIs – Operating FCF & Capital Deployment
FY25 Q2 KPIs – Operating FCF & Capital Deployment Plan on repurchasing up to 6% of shares in FY25 Operating FCF1,2 & Conversion1,2 LTM Capital Deployment (in millions of $, except %) (in millions of $) 80 180% 72 70 160% 10 55 57 140% 54 60 120% 44 14 We have a strong pipeline of 50 100% $78M potent
Slide 9: FY25 Q2 KPIs – Leverage and Cash Availability
FY25 Q2 KPIs – Leverage and Cash Availability ~$200M available to invest in growth Net Debt1,2/Adj. EBITDA1,2 Cash Availability (ratio) (in millions of $) <2.5x 232 217 207 200 198 Solid 0.6x 0.6x 0.7x balance sheet 0.3x 0.4x Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Unused credit
Slide 10: FY25 Q2 KPIs – Shareholder Value Creation
FY25 Q2 KPIs – Shareholder Value Creation We are yielding strong returns 15% Adj. EBITDA1,2/Diluted Share Yield OFCF1,2/Diluted Share Adj. EPS1,2/Diluted Share (in $) (in $) (in $) $7.68 11% $6.59 Yield $6.07 $5.98 $6.02 9% $5.28 Yield $4.84 $4.57 $4.76 $4.86 $4.15 $4.15 $3.92 $3.89 $3.81 2021 2022
Slide 11: FY25 Outlook
FY25 Outlook Guidance withdrawn • Excluding ITCS, adj. EBITDA expected to grow over FY24 in line with previous expectations • Secured $248M in signings in Q2-25 • Backlog at $1.4 Billion • Targeting neutral to slightly negative working capital for FY25 • Capex ~$8-$10M for FY25 © 2024 Calian Group L
Slide 12: Closing Remarks
Closing Remarks Well-positioned for growth in the years ahead • Q2 results impacted by ITCS segment • Maximizing share buybacks • Starting a portfolio review • Doubling-down on defence and space • Investing in AI • Promising signals from “Buy Canada” movement © 2024 Calian Group Ltd. 12
Slide 13: Question Period
Question Period Kevin Ford Patrick Houston Jennifer CEO CFO McCaughey Director, Investor Relations © 2024 Calian Group Ltd. | 13
Slide 14: Appendix A – Reconciliation of Non-GAAP measures
Appendix A – Reconciliation of Non-GAAP measures © 2024 Calian Group Ltd. | 14
Slide 15: Reconciliation of Non-GAAP Measures – Adj. EBITDA
Reconciliation of Non-GAAP Measures – Adj. EBITDA Three months ended Six months ended (in thousands of $) March 31, 2025 March 31, 20241 March 31, 2025 March 31, 20241 Net profit $295 $4,925 ($681) $10,450 Share based compensation 949 1,128 2,040 2,318 Restructuring expense 372 1,495 1,064 1,495 Dep
Slide 16: Reconciliation of Non-GAAP Measures – Adj. Net Profit
Reconciliation of Non-GAAP Measures – Adj. Net Profit Three months ended Six months ended (in thousands of $, except # shares and per share amounts) March 31, 2025 March 31, 20241 March 31, 2025 March 31, 20241 Net profit $295 $4,925 ($681) $10,450 Share based compensation 949 1,128 2,040 2,318 Rest
Slide 17: Reconciliation of Non-GAAP Measures – Operating FCF
Reconciliation of Non-GAAP Measures – Operating FCF Three months ended Six months ended (in thousands of $, except per share amounts and %) March 31, 2025 March 31, 20241 March 31, 2025 March 31, 20241 Cash flows generated from operating activities (free cash flow) $9,860 $35,788 $14,242 $53,326 M&A
Slide 18: Reconciliation of Non-GAAP Measures – Net Debt/Adj. EBITDA
Reconciliation of Non-GAAP Measures – Net Debt/Adj. EBITDA (in thousands of $, except ratio) March 31, 2025 March 31, 20241 Cash $64,150 $52,267 Debt facility 120,750 93,750 Net debt (net cash) 56,600 41,483 Trailing twelve month adjusted EBITDA 78,846 65,987 Net debt to adjusted EBITDA 0.7 0.6 1) C
Slide 19: Thank you
Thank you Jennifer McCaughey, CFA, F.CIRI Director, Investor Relations ir@calian.com