Aimia Inc. · TSX:AIM
Aimia — Q1 2026 Earnings Presentation
22 slides from Aimia's earnings presentation, May 13, 2026
Slide 1: Q1 2026 Presentation
Aimia Q1 2026 Presentation May 13, 2026
Slide 2: Forward-looking and cautionary statements
Forward-looking and cautionary statements This presentation contains statements that constitute “forward-looking information” within the meaning of Canadian securities laws (“forward-looking statements”), which are based upon Aimia’s current expectations, estimates, projections, assumptions and beli
Slide 3: GAAP and Non-GAAP Financial Measures
GAAP and Non-GAAP Financial Measures GAAP FINANCIAL MEASURES To measure performance, the Corporation uses and presents several financial measures in accordance with GAAP, including, but not limited to, gross profit (loss), operating income (loss), Earnings (loss) before income taxes, Net earnings (l
Slide 4: Today’s presenters
Today’s presenters Rhys Summerton Steve Leonard Executive Chairman President & CFO 4
Slide 5: Q1 highlights
Q1 highlights • Announced divestiture of specialty chemicals business • Q1 results from continuing operations exclude contributions from Bozzetto • Cortland’s results impacted by timing of orders and developments in the Middle East • Invested $1.4M in share buybacks • Bozzetto transaction has receiv
Slide 6: Financial & Operating Results
Financial & Operating Results
Slide 7: Financial highlights
Financial highlights $ million Q1 2026 Q1 2025 • Results exclude Bozzetto contributions Revenue $32.7 $40.7 except for net earnings and cashflow Gross Profit $7.9 $9.7 from operations Gross Profit Margin 24.2% 23.8% • Bozzetto treated as discontinued SG&A expenses $9.7 $11.7 operations consistent wi
Slide 8: Cortland International financial highlights
Cortland International financial highlights $Million Revenue $Million Adj. EBITDA* $45 $40.7 $8 $40 $37.8 $37.6 $34.3 $6 $5.4 $5.5 $35 $32.7 $4.9 $4.5 $4.1 $4 $30 $25 $2 $20 $0 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 • Q1 2026 impacted by lower sales volume, the • Q1 2026 impacte
Slide 9: Consolidated cash waterfall through March 31
Consolidated cash waterfall through March 31* $Million -$8.9 $109.2 $3.8 $(5.9) $(2.0) $(2.2) $100.3 $(1.4) $(0.7) $(0.5) Q4 Cash Cashflow from Reimbursements Bozzetto senior CAPEX NCIB Preferred share Other Q1 Cash Operations** of other credit facilities dividends movements borrowings principal rep
Slide 10: Liquidity as at March 31, 2026
Liquidity as at March 31, 2026 Cortland $3.9 Liquidity over next 12 months to be impacted by: • Net proceeds of $267M from sale of Bozzetto $38.7 Holdings • Offer to redeem $142.6M of Senior Notes $100.3 $57.7 • $7M of operating expenses at HoldCo Bozzetto Bozzetto’s $57.7M of cash classified as ass
Slide 11: Bozzetto divestiture
Bozzetto divestiture AIMIA
Slide 12: Bozzetto transaction update
Bozzetto transaction update • On track towards closing in May 2026 • Regulatory approvals received • Transaction to generate approximately CAD$267 in net proceeds • Net proceeds will be used to invest in undervalued companies and reduce Aimia’s indebtedness No taxes expected due to use of capital ta
Slide 13: Updated net proceeds from sale
Updated net proceeds from sale* $Million $411 $(116) $(11) $267 $(17) Enterprise Value Net debt Transaction costs Minority interests Net proceds *Translated from Euro to CAD at 1.61 13
Slide 14: Aimia’s proforma cash as of March 31
Aimia’s proforma cash as of March 31* $Million 80% $(114.1) acceptance of offer for $192.0 senior notes $(3.5) will increase $267.0 $(28.5) $28.5 pro forma $(142.6) cash by $28.5M to $192M $163.5 $(57.7) $100.3 Q1 Cash Less Bozzetto cash Net proceeds Notes redemption Accrued and Pro forma Cash unpai
Slide 15: Outlook & priorities
Outlook & priorities AIMIA
Slide 16: Near-term priorities
Near-term priorities May 2026 June 2026 Bozzetto sale close Offer to redeem 2030 notes Deploy capital • CAD$267M in net proceeds • Offer will be made at par value + • Utilize proceeds towards expected accrued interest within 30 days investments in • Regulatory approval of closing undervalued compani
Slide 17: Summary and Outlook
Summary and Outlook • Q1 marked by news of Bozzetto sale • Outlook for Cortland is stronger in H2 2026 • Near-term priorities include: • Close Bozzetto sale in May • Make offer to redeem 9.75% senior notes • Renew NCIB in June • Explore listing in the UK • Longer term focus is to grow net asset valu
Slide 18: Questions?
Questions? AIMIA
Slide 19: TSX: AIM www.aimia.ca IRandMedia@corp.aimia.ca
TSX: AIM www.aimia.ca IRandMedia@corp.aimia.ca
Slide 20: Appendix Non-GAAP Financial Measures
Appendix Non-GAAP Financial Measures
Slide 21: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA Three Months Ended Cortland International March 31, (in millions of Canadian dollars) 2026 2025 Reconciliation of Adjusted EBITDA Operating income (loss) 0.6 1.4 Depreciation and amortization 2.9 3.0 Long-term management incentive plan 0.6 1.0 Termination benefits 0
Slide 22: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA Three Months Ended Holdings March 31, (in millions of Canadian dollars) 2026 2025 Reconciliation of Adjusted EBITDA Operating income (loss) (2.4) (3.4) 0.4 0.7 Share-based compensation expense (reversal) Adjusted EBITDA (2.0) (2.7) 22