Sndl Inc. · NASDAQ:SNDL
Sndl — Q3 2026 Earnings Presentation
14 slides from Sndl's earnings presentation, October 2026
Slide 1: Disclaimer
Disclaimer Forward-looking statements Certain statements contained in this presentation may constitute forward-looking information and statements. All statements in this presentation, other than statements of historical fact, that address events or developments concerning SNDL Inc. (“SNDL" or the "C
Slide 2: Corporate Presentation Third Quarter 2026
Corporate Presentation THIRD QUARTER 2026 October 2026 NASDAQ: SNDL CSE: SNDL
Slide 3: Q3 2026 Company Highlights
Q3 2026 Company Highlights Third Quarter Financial Results IMPROVEMENTS IN ACCELERATE SHARE STRATEGIC INVESTMENTS UNDERLING PERFORMANCE REPURCHASES IN USA Record quarterly and positive Continued share repurchases Increased indirect equity year-to-date free cash flow adding up to >23 million and debt
Slide 4: Q3 2026 Financial Highlights
Q3 2026 Financial Highlights Third Quarter Financial Results Net Revenue $238MM $(6.2)MM (2.5)% SNDL delivered record Decrease YOY Decrease YOY Free Cash Flow and positive Adjusted Gross Profit $57.9MM $(6.3)MM (9.8)% Operating Income Decrease YOY Decrease YOY Q3 Results demonstrate improvement in u
Slide 5: Third Quarter 2026 Financial Performance
Net Revenue ($000s) Gross Profit ($000s) Third Quarter Third Quarter Financial Results 300,000 (2.5)% Decrease YOY 80,000 (9.8)% Decrease YOY 2026 Financial 200,000 60,000 Performance 40,000 100,000 20,000 0 0 • SNDL delivered positive Adjusted Operating Income with 155% year-over- 2023 2024 2025 20
Slide 6: Net Revenue, Gross Profit and Adj. Operating Income Contribution by Segments
Net Revenue, Gross Profit and Adj. Operating Income Contribution by Segments Third Quarter Financial Results Net Revenue ($Millions) Gross Profit ($Millions) 244.2 70.0 0.6 8.2 238.0 (4.6) 65.0 64.2 0.7 (0.3) (10.3) 60.0 57.9 (6.6) (2.5)% 55.0 (9.8)% 50.0 45.0 Q3 2025 Liquor Retail Cann. Retail Cann
Slide 7: Q3 record Free Cash Flow includes captive insurance unwinding benefit
Q3 record Free Cash Flow includes $10.6 million benefit from the initial unwinding of the Company’s captive insurance arrangement Third Quarter Financial Results Free Cash Flow ($Millions) Free Cash Flow trend ($Millions) 16.2 20.0 25 $20 16.7 20 $17 (1.1) 15 $12 +19.5% 10 $9 $10 5 ($1) 0 ($6) (11.8
Slide 8: Liquor Retail Q3 2026 Results
Liquor Retail Q3 Net Revenue Gross Profit 2026 Liquor Retail $134.8MM $36.4MM Decrease of $(4.6) million Decrease of $(0.3) million Results (3.3)% decrease year-over-year (0.9)% decrease year-over-year • Net Revenue continued to decline, despite three new Wine & Beyond stores opened in the last 12 m
Slide 9: Cannabis Retail Q3 2026 Results
Cannabis Retail Q3 Net Revenue Gross Profit 2026 Cannabis Retail $85.6MM $23.1MM Increase of $0.6 million Increase of $0.7 million Results 0.7% increase year-over-year 2.9% increase year-over-year • Net Revenue returned to growth reaching a new quarterly record driven by new stores and Value Buds st
Slide 10: Cannabis Operations Q3 2026 Results
Cannabis Operations Q3 Net Revenue Gross Profit 2026 Cannabis Operations $27.0MM $(1.6)MM Decrease of $(10.3) million Decrease of $(6.6) million Results (27.7)% decrease year-over-year (132)% decrease year-over-year • Net Revenue decline mostly attributed to our exit from the unprofitable domestic d
Slide 11: Share Repurchase Program
Share Repurchase Program Share Repurchases Returning capital to shareholders while maintaining balance sheet flexibility, announced a potential substantial issuer bid (SIB) for an aggregate price of up to $50 million at a price per share not exceeding USD$1.35 $100 Million 8% Accretive to Authorizat
Slide 12: Parallel Restructuring: Transformational Milestone for SNDL
Parallel Restructuring: Transformational Milestone for SNDL Parallel SNDL is evaluating a path to direct ownership and financial consolidation of Parallel’s medical cannabis business State Operations Product Categories Strategic Investments in Flower Beverage Florida (FL) Pre-roll Topical Q3 Texas (
Slide 13: Ontario Regulatory Matters
Ontario Regulatory Matters Ontario Regulatory Matters Path to regulatory resolution expected to normalize franchise operations From To Financial impact to SNDL • Long-standing regulatory matters • Resolution subject to definitive from deconsolidation involving the AGCO documentation and payment of a
Slide 14: Analyst Q&A
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