Western Investment Company Of Canada Limited · TSXV:WI
Western Investment Company Of Canada — The Western Investment Company of Canada — Merger or Acquisition (October 2026)
19 slides from Western Investment Company Of Canada's merger presentation, Oct 20, 2026
Slide 1: Canadian Farm Insurance Transaction Investor Presentation
Canadian Farm Insurance Transaction Investor Presentation October 20, 2026
Slide 2: Cautionary Statements
I MP O RT A NT I NF O RM A TI O N Cautionary Statements DISCLAIMER This presentation (the “Presentation”) contains a summary of general information about The Western Investment Company of Canada Limited’s (“Western”) activities as of the date of this Presentation, including the proposed acquisition
Slide 3: The Western Way
P HI LO SO P HY The Western Way How we operate and the principles that guide every decision B U SI NE S S F UN D A M EN TA L S C O RE VA LU E S ■ Decentralized operations at subsidiaries ■ Challenge the status quo ■ Centralized investment management, ■ Humble & respectful attitude incentives & capit
Slide 4: Western's Transformation
P RO G RE S S & PR I OR I TI E S Western’s Transformation From a listed private equity vehicle to an insurance and investment holding company Re-capitalize & Re-imagine Monetized legacy Build & Acquire Invest the float Invest insurance float with a value-oriented, total-return focus Recapitalized wi
Slide 5: Transaction Summary
TR AN S AC TIO N O V ER V IE W Transaction Summary INSURER ~7x Canadian Farm Purchase Price 2026E Adj. Profit Before Tax ~$42.3M Western has signed a definitive + agreement to acquire Canadian MGAs ~10x Farm Insurance Corp., a specialty Stockmens Purchase Price 2026E Profit Before Tax ~$10.2M insura
Slide 6: Canadian Farm at a Glance
C OM PAN Y O VE R V IE W Canadian Farm at a Glance $29.8M $6.2M $1.0M Canadian Farm 2026E Canadian Farm 2026E Ad j. STO CKMENS 2026E Prof it Gro ss Written P remium Pro fit Before T ax Before T ax Canadian Farm is a 100% Canadian-owned and operated specialty insurance company focused on 39% 29% 68
Slide 7: Specialized Insurance Platform with a Niche Offering
I NV E S TM E NT H IG HL I G HT S Specialized Insurance Platform with a Niche Offering Niche embedded product Short-tail, cash-generative Anchored by a leading with moat book auction network One of only a few insurers with a Claims reported and settled quickly, NBI auction markets handle ~30% of ded
Slide 8: How Transit Insurance Works
B US I NE S S O V ER V IE W How Transit Insurance Works COVERAGE PERI OD Additional coverage available to the buyer for HAU L YAR D post-sale transit L OA D SAL E Loading at the farm Haul to market Sorting & holding Sold in the ring Cover attaches when cattle are Covers any loss that occurs Covers a
Slide 9: Transit Insurance
B US I NE S S O V ER V IE W Transit Insurance Canadian Farm offers a niche, embedded product through a unique distribution channel COVERAGE Cattle that die or get injured during the process of transporting and HISTORICAL GROSS WRITTEN PREMIUM & NET LOSS RATIO selling them at an auction market ($ mil
Slide 10: Livestock Mortality
B US I NE S S O V ER V IE W Livestock Mortality Complementary line of business, with a proven track record of underwriting profitability COVERAGE Policies are in effect for 12-months covering high-value animals HISTORICAL GROSS WRITTEN PREMIUM & NET LOSS RATIO (primarily purebred bulls, breeding cow
Slide 11: A Decade of Disciplined Underwriting
FI NA NC I AL P ER FO RM AN C E A Decade of Disciplined Underwriting Stable loss ratios and consistent operational expense management drive profitable business 2025 GWP BY LINE OF BUSINESS ($ millions, unless otherwise stated) 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 23% Transit GROSS WRITT
Slide 12: Stockmens: Livestock Mortality
B US I NE S S O V ER V IE W Stockmens: Livestock Mortality Canadian & US capital-light MGAs primarily writing breeding-bull mortality insurance on third-party paper S TO C KM E N S C AN A D A 100% written for a Lloyd’s syndicate with Stockmens earning a commission Primarily distributed through i
Slide 13: Entrenched at Western Canada's Auction Markets with Significant Upside
G RO WTH STRATEG Y Entrenched at Western Canada's Auction Markets with Significant Upside CURRENT WESTERN CANADIAN FOOTPRINT ADDITIONAL WESTERN CANADIAN OPPORTUNITY ONTARIO OPPORTUNITY ~30% ~70% ~37 ~21 of Western Canada auction volume sold through of Western Canadian Western Canadian independent ma
Slide 14: Multiple Levers to Grow Under Western Ownership
G RO WTH STRATEG Y Multiple Levers to Grow Under Western Ownership ■ Target up to 70% of auction volumes by pursuing 37 identified Western Win New Transit Canadian markets Markets ■ Expand into 21 Ontario auction markets and digital auctions ■ Compete on coverage, pricing and service fees ■ Target h
Slide 15: Scott Tannas returning to an operating role
LEADERSHIP Scott Tannas returning to an operating role At closing Scott will step down as Western Chair, but remain on the board, and become CEO of Canadian Farm 1993 1996 1998 2001 SCOTT TANNAS Buys Hi-Alta Insurance Brokers in Lists publicly as Hi- Alta Capital at Renamed Western Financial Group L
Slide 16: Key Terms
TR AN S AC TIO N O V ER V IE W Key Terms Purchase price and consideration Perpetual transit insurance agreement 1 $52.5M payable on closing; Vendors may elect to receive up 2 Canadian Farm continues as transit insurer to all current and to 20% ($10.5M) in Western shares, with balance in cash future
Slide 17: Western's Transformation
P RO G RE S S & PR I OR I TI E S Western’s Transformation From a listed private equity vehicle to an insurance and investment holding company Re-capitalize & Re-imagine Monetized legacy Build & Acquire Invest the float Invest insurance float with a value-oriented, total-return focus Recapitalized wi
Slide 18: The Western Way
P HI LO SO P HY The Western Way How we operate and the principles that guide every decision B U SI NE S S F UN D A M EN TA L S C O RE VA LU E S ■ Decentralized operations at subsidiaries ■ Challenge the status quo ■ Centralized investment management, ■ Humble & respectful attitude incentives & capit
Slide 19: Questions
Western b QUESTIONS
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