Chemtrade Logistics Income Fund (CHE-UN) Investor presentation summary

Business overview and strategy

• Supplies essential industrial chemicals to critical industries with a diversified, recession-resistant portfolio.

• Achieved a 16% CAGR in Adjusted EBITDA from 2021 to 2025, with a 2026 guidance of $485–$525M.

• Focuses on operational excellence, commercial execution, and disciplined capital allocation.

• Vision 2030 targets $550–$600M mid-cycle Adjusted EBITDA by 2030, with 5–10% annual growth.

• Strategic priorities include organic growth in water chemicals and ultrapure acid, targeted acquisitions, and unit buybacks.

Financial performance and capital allocation

• Total unitholder return of ~185% over the last three years, outperforming peers.

• Distributable cash flow CAGR of ~23% (2021–Q1 2026), with average conversion of 41%.

• Increased distributions by 20% since 2023, maintaining a sub-50% payout ratio on a 4% yield.

• Repurchased 8.9M units in 2025 and 2.3M units in Q1 2026 via NCIB.

• Maintains a strong balance sheet with net debt to LTM Adjusted EBITDA at 2.5x and liquidity of ~$415M.

Segment and product highlights

• Acid & Sulphur Products: Pipeline-connected facilities, long-term contracts, and risk-sharing agreements.

• Water Solutions: Largest alum supplier, #2 in water coagulants and poultry litter treatment, expanded via Polytec acquisition.

• Electrochemicals: Leading caustic soda and sodium chlorate supplier in Canada, cost-advantaged production.

• Water treatment chemicals market expected to grow at 5% CAGR (2023–2033), with Chemtrade positioned for expansion.