SunOpta — William Blair Growth Stock Conference 2024

34 slides from SunOpta's conference presentation, Jun 5, 2024

Slide 2: General Disclosures
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 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 to important risks an
Slide 3: Table of Contents
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Table of Contents ➢ SunOpta Overview ➢ Investment Overview ➢ Financial Performance Update ➢ Appendix © SunOpta Inc. 2024 3
Slide 5: SunOpta at a Glance
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 SunOpta at a Glance Headquarters Eden Prairie, MN Innovative and ~1,200 Total Employees sustainable manufacturer Inclusive fueling the future Innovative of food Entrepreneurial $630M $79M 7 FY23 Revenue FY23 Adj. EBITDA Manufact
Slide 6: Strong, focused business serving growing categories
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Strong, focused business serving growing categories… 1 GEOGRAPHY 2 PLATFORMS NORTH AMERICA Beverages Fruit & Broth Snacks Plant-Based Nutritional 5 CATEGORIES Better For You Beverages* Beverages Tea Broth Snacks ~85% of Revenue
Slide 7: Coast-to-coast, full-service capability
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 …supported by coast-to-coast, full-service capability… SCALED MANUFACTURING VALUE-ADDED SERVICES SUPPLY CHAIN R&D QUALITY Proven R&D and Rigorous testing Turnkey, end-to- product end supply chain and quality development standard
Slide 8: Our winning team and culture
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 …powered by our winning team and culture… OUR CULTURAL VALUES CUSTOMER SPEED OWNERSHIP CENTRIC PROBLEM PASSION DEDICATION SOLVER © SunOpta Inc. 2024 8
Slide 9: Anchored by our commitment to sustainability
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 …and anchored by our commitment to sustainability Operations Supply Chain Packaging • Six facilities achieved Zero • Committed to responsible & • Aseptic packaging extends Waste to landfill in 2023 transparent sourcing shelf lif
Slide 11: Investment Highlights
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Investment Highlights 1. High-growth business serving large and growing markets 2. Competitively advantaged, scalable network 3. Dynamic, flexible model drives commercial resilience 4. Partner of choice for leading consumer prod
Slide 12: Investment Highlights
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Investment Highlights 1. High-growth business serving large and growing markets 2. Competitively advantaged, scalable network 3. Dynamic, flexible model drives commercial resilience 4. Partner of choice for leading consumer prod
Slide 13: SunOpta is a growth business
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 SunOpta is a growth business REVENUE ADJUSTED EBITDA in $ millions in $ millions +13% CAGR +26% $630 CAGR $79 $591 $496 $64 $50 FY21A FY22A FY23A FY21A FY22A FY23A Adjusted 10.0% +250 12.5% EBITDA Margin BPS © SunOpta Inc. 2024
Slide 14: Serving large and growing markets
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Serving large and growing markets PLANT-BASED TEA NUTRITIONAL BROTH BFY SNACKS BEVERAGES BEVERAGES $2B Core Addressable Market(1) $5B $6B $6B $3B YoY ~1% >5% >20% >5% ~5% Growth YoY Growth(3) YoY Growth YoY Growth YoY Growth YoY
Slide 15: Leader in specialized, supply constrained markets
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 SunOpta is a leader in specialized, supply constrained markets LEADING SHELF STABLE MARKET SHARE LEADING SHELF STABLE SUPPLY POSITIONS SHELF STABLE PLANT-BASED MILKS PRIMARY SUPPLIER PRIMARY SUPPLIER Others OF PLANT-BASED OF FRU
Slide 16: Consumer fundamentals supporting plant-based milks
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 The consumer fundamentals supporting plant-based milks are durable and enduring creating 40 years of category growth Very broadly penetrated category Broad set of usage occasions Plant-based milk household penetration1 How Peopl
Slide 17: Investment Highlights
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Investment Highlights 1. High-growth business serving large and growing markets 2. Competitively advantaged, scalable network 3. Dynamic, flexible model drives commercial resilience 4. Partner of choice for leading consumer prod
Slide 18: Competitively advantaged, coast-to-coast beverage & broth network
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Competitively advantaged, coast-to-coast beverage & broth network FOOTPRINT CAPABILITIES Operate complex manufacturing at high Alexandria, MN (2 Facilities) volumes across varied pack sizes at multiple locations Allentown, PA Mo
Slide 19: Investment Highlights
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Investment Highlights 1. High-growth business serving large and growing markets 2. Competitively advantaged, scalable network 3. Dynamic, flexible model drives commercial resilience 4. Partner of choice for leading consumer prod
Slide 20: Go-to-market, channel and packaging versatility
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Go-to-market, channel and packaging versatility enables a diversified and resilient commercial model Diversified paths to market Multi-channel distribution Versatile packaging formats Single Multi Industrial Club and Supermarket
Slide 21: Value-added services drive sticky customer relationships
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Value-added services drive ‘sticky’, collaborative customer relationships SUPPLY CHAIN R&D QUALITY Turnkey, end-to-end supply Proven R&D partner and All raw materials, in-process chain management via deep innovator in new produc
Slide 22: Investment Highlights
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Investment Highlights 1. High-growth business serving large and growing markets 2. Competitively advantaged, scalable network 3. Dynamic, flexible model drives commercial resilience 4. Partner of choice for leading consumer prod
Slide 23: Partner of choice for leading consumer product companies and retailers
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Partner of choice for leading consumer product companies and retailers Representative Retail and Foodservice Customer Base AVERAGE TENURE (ALL CUSTOMERS) >10 AVERAGE TENURE (TOP 3 CUSTOMERS*) >15 YEARS YEARS *Based on full-year
Slide 24: State of the art, full-service innovation
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 State of the art, full-service innovation fuels customer-led innovation R&D LAB PILOT PLANT Holistic, fully Facilitates rapid integrated product product prototyping development from to accelerate formulation to customer innovati
Slide 25: Investment Highlights
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Investment Highlights 1. High-growth business serving large and growing markets 2. Competitively advantaged, scalable network 3. Dynamic, flexible model drives commercial resilience 4. Partner of choice for leading consumer prod
Slide 26: Proven strategy to deliver and sustain profitable growth
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Proven strategy to deliver and sustain profitable growth Representative Retail and Foodservice Customer Base CUSTOMER-CENTERED • Focus on execution OPERATIONS • Maintain best-in-class fill rates • Support customer-led product de
Slide 27: Focused execution driving sustained growth and deleveraging
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Focused execution driving sustained growth and deleveraging Representative Retail and in $ millions RevenueCustomer Foodservice Trended Base Adjusted EBITDA Leverage +15% 5x +13% $90 $700 4x -0.4x+ $630 $79 $591 3.7x 3.4x Levera
Slide 28: Organic investments accelerating profitable growth and cash flow
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Organic investments accelerating profitable growth and cash flow Aggressive investment to Driving a ~60% increase in Adj. Generating higher cash flow from add capacity & capability EBITDA over the next ~24 months operations resu
Slide 29: Compelling growth algorithm underwrites sustained value creation
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Compelling growth algorithm underwrites sustained value creation METRIC AMBITION ASSUMPTIONS Annual Revenue Sustained growth supported by new and future capacity 10%+ and capabilities Growth Gross Continued margin improvement dr
Slide 31: Key Takeaways
SunOpta Inc. Investor Presentation Fueling the Future of Food June 2024 Key Takeaways • SunOpta is a growth company serving attractive markets in partnership with long-tenured blue-chip customers • Organic investment and operational effectiveness underwrite near-term revenue and EBITDA growth along
Slide 33: Adjusted EBITDA from Continuing Operations
Adjusted EBITDA from Continuing Operations The following table presents quarterly adjusted EBITDA trend from continuing operations. (Figures in $ thousands) Fiscal 2021 Fiscal 2022 Fiscal 2023 Fiscal 2024 Year ended Quarter ended Quarter ended Quarter ended Quarter ended Year ended Quarter ended Qua
Slide 34: SunOpta contact details
7078 Shady Oak Road Eden Prairie, Minnesota 55344 www.sunopta.com © SunOpta Inc. 2024 34

SunOpta — William Blair Growth Stock Conference 2024 on 6ix

SunOpta — William Blair Growth Stock Conference 2024

Slide 1: SunOpta Inc. Investor Presentation

Slide 2: General Disclosures

Slide 3: Table of Contents

Slide 4: SunOpta Overview

Slide 5: SunOpta at a Glance

Slide 6: Strong, focused business serving growing categories

Slide 7: Coast-to-coast, full-service capability

Slide 8: Our winning team and culture

Slide 9: Anchored by our commitment to sustainability

Slide 10: Investment Overview

Slide 11: Investment Highlights

Slide 12: Investment Highlights

Slide 13: SunOpta is a growth business

Slide 14: Serving large and growing markets

Slide 15: Leader in specialized, supply constrained markets

Slide 16: Consumer fundamentals supporting plant-based milks

Slide 17: Investment Highlights

Slide 18: Competitively advantaged, coast-to-coast beverage & broth network

Slide 19: Investment Highlights

Slide 20: Go-to-market, channel and packaging versatility

Slide 21: Value-added services drive sticky customer relationships

Slide 22: Investment Highlights

Slide 23: Partner of choice for leading consumer product companies and retailers

Slide 24: State of the art, full-service innovation

Slide 25: Investment Highlights

Slide 26: Proven strategy to deliver and sustain profitable growth

Slide 27: Focused execution driving sustained growth and deleveraging

Slide 28: Organic investments accelerating profitable growth and cash flow

Slide 29: Compelling growth algorithm underwrites sustained value creation

Slide 30: Key Takeaways

Slide 31: Key Takeaways

Slide 32: Appendix

Slide 33: Adjusted EBITDA from Continuing Operations

Slide 34: SunOpta contact details