Growth International (AFN) Investor presentation summary

Business profile

• Supplies equipment for grain storage, handling, conditioning and processing across the global feed, food and biofuels supply chain.

• Sells into more than 100 countries, with facilities and employees across North America, South America, EMEA and APAC.

• Farm products support post-harvest grain protection; Commercial products serve large-scale storage, logistics and processing.

Market drivers and competitive strengths

• Population growth, rising incomes and the essential nature of agriculture underpin demand for efficient production and equipment.

• Global corn production CAGR is 2.5% and soybean production CAGR is 3.5% in the presentation’s historical and forecast series.

• Farm strengths include customer feedback informing innovation, leadership in key North American categories and a dealer network exceeding 1,000.

• Commercial opportunities include diversified projects and regions, global supply capabilities and infrastructure investment to reduce spoilage and increase storage.

Financial performance and mix

• Revenue was CAD 1.0bn in 2025 and CAD 1.0bn LTM to Sept. 30, 2026, down from CAD 1.527bn in 2023.

• Adjusted EBITDA was CAD 156m with an 11.6% margin LTM to Sept. 30, 2026, versus CAD 149m and 14.4% in 2025.

• LTM revenue mix was 51% North America and 49% International; International represented 91% Commercial revenue and 9% Farm revenue.

• Farm and Commercial revenue historically split about 50/50, while recent mix skewed toward Commercial and International; management expects a return toward historical norms as Farm recovers.

• Since 2023, segmented Adjusted EBITDA has generally tilted about 60/40 toward Commercial over Farm; management expects Farm to regain a majority over time.