SNDL : 2025 First Quarter Investor Presentation

Published: 2025-05-01 07:25:08 ET SNDL

Published on 05/01/2025 at 07:25

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 "Company") that SNDL expects to occur are "forward-looking information and statements". Forward-looking information and statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "propose", "potential", "targeting", "intend", "could", "might", "should", "believe", "budgeted", "scheduled" and "forecasts", and similar expressions and variations (including negative variations).

In particular, but without limiting the foregoing, this presentation contains forward-looking information and statements pertaining to the following: SNDL's ability to raise future capital through debt or equity financing transactions, and our ability to efficiently deploy the capital raised through such transactions; our ability to successfully implement our cost and asset optimization initiatives; the continued development and growth of the demand and markets for medical and adult-use cannabis; the competitive conditions of the industry and the expected number of customers using our products; the maintenance of our existing licenses and the ability to obtain additional licenses as required; our ability to establish and market our brands within our targeted markets and compete successfully; our ability to produce and market additional products as regulations permit; the number of flowering rooms and combined production capacity therefrom that we expect to have; our growth strategies, including plans to sell edibles and other forms of cannabis; the timing and the amount of capital expenditures related to the maintenance and any expansion of our facilities; the outcome of medical research by our partners and the acceptance of such findings in the medical community; our ability to attract and retain key employees; our ability to manage growth in our business; our ability to identify, successfully execute, manage and realize a return on strategic partnerships, joint ventures, strategic alliances, debt and equity investments as well as the costs and benefits associated with such initiatives, including the expected return on any investments; and the volatility in the price of our common shares. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this presentation. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Such risks and uncertainties may be discussed in the Company's materials filed with the Canadian and U.S. securities regulatory authorities from time to time. All of the forward-looking information and statements contained in this presentation are qualified by these cautionary statements. The reader of this presentation is cautioned not to place undue reliance on any forward-looking information and statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. For more information in respect of such forward-looking formation and statements, please refer to SNDL's annual information form for the year ended December 31, 2024 as well as SNDL's audited consolidated financial statements and the notes thereto for the years ended December 31, 2024 and December 31, 2023, and the accompanying management's discussion and analysis, including (in each case, as applicable) the sections thereof entitled "Forward-Looking Information".

Non-IFRS Measures

Certain financial measures in this presentation, including system-wide retail sales, adjusted Operating Income, adjusted EBITDA from continuing operations, free cash flow and gross margin before fair value adjustments, are non-IFRS measures. These terms are not defined by IFRS and, therefore, may not be comparable to similar measures provided by other companies. These non-IFRS financial measures should not be considered in isolation or as an alternative for measures of performance prepared in accordance with IFRS. For more information in respect of these non-IFRS financial measures, please refer to SNDL's audited consolidated financial statements and the notes thereto for the years ended December 31, 2024 and December 31, 2023, and the accompanying management's discussion and analysis, including the sections thereof entitled "Specified Financial Measures".

Important Information Concerning this Presentation

Under no circumstances should the information contained herein be considered an offer to sell or a solicitation of an offer to buy any security of the Company or any other entity in the United States or in any other jurisdiction. The contents of this presentation have not been approved or disapproved by any securities or regulatory authority in Canada, the United States or any other jurisdiction.

In addition, certain information contained in this presentation is based upon information from press releases, independent industry sources and other publications and websites. None of these sources have provided any form of consultation, advice or counsel regarding any aspect of, or is in any way whatsoever associated with, SNDL. Actual outcomes may vary materially from those forecast in such press releases, reports or publications, and the prospect for material variation can be expected to increase as the length of the forecast period increases. While SNDL believes this data and information to be reliable, such data and information is subject to variations and cannot be verified with complete certainty. SNDL has not independently verified any of the data or information from third party sources referred to in this presentation or ascertained the underlying assumptions relied upon by such sources. SNDL cannot and does not provide any assurance as to the accuracy or completeness of such information.

This document is being supplied to you solely for your information and may not be reproduced or forwarded to any other person or published (in whole or in part) for any purpose.

All financial information in this presentation is reported in millions of Canadian dollars unless otherwise indicated.

Corporate Presentation

NASDAQ: SNDL

CSE: SNDL

Bringing people together through exceptional products and experiences

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CANNABIS RETAIL

One of Canada's largest cannabis retail footprint

Diverse retail stores from everyday low cost to premium retail experiences

Own the customer relationship with robust analytics and insights

Key driver of SNDL's vertical integration strategy in cannabis

CANNABIS OPERATIONS

Robust innovation capabilities through low-cost biomass sourcing, premium indoor cultivation and low-cost manufacturing facilities

Diverse brand portfolio from value to premium

Trusted B2B production partner

Key enabler of SNDL's vertical integration strategy

INVESTMENTS

Emphasis on cannabis credit and select M&A focused equity investments

SunStream Bancorp Inc. vehicle for the deployment of debt capital to large U.S. based MSOs and other operators

LIQUOR RETAIL

Canada's largest private sector liquor retailer

Diverse retail footprint from convenience to large format destination locations

Operational excellence and scalable corporate services in competitive and regulated retail environments

Net Revenue figures represent trailing four quarters: second quarter 2024 to first quarter 2025

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SNDL has one of the strongest balance sheets in the regulated products industry with significant cash reserves

Vertical integration generates economic value, competitive differentiation and

predictability in SNDL's

cannabis supply chain

The combined Liquor and Cannabis Retail segments provides operational expertise and synergies, enhancing excellence in retail capabilities and achieving economies of scale for corporate services

SNDL's investment portfolio generates positive cash flows and gives SNDL greater optionality and strategic alternatives for M&A activities

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Disclaimer

SNDL Inc. published this content on May 01, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 01, 2025 at 11:24 UTC.