Decibel Cannabis Company (DB) Investor presentation summary

Market position and growth

• Ranked as the sixth largest Canadian recreational cannabis company with approximately $250 million in annual retail-level sales and presence in over 3,100 stores across 9 provinces and 2 territories.

• Achieved 484% international sales growth in 2025, with expectations for continued high double-digit growth in 2026.

• Products are present in 9 countries, including Canada, Germany, Australia, Israel, the UK, Spain, Norway, Denmark, and Switzerland.

• Canadian market remains a cornerstone, offering a stable regulatory framework and serving as a global export leader.

• Global legal cannabis market projected to reach US$134 billion by 2030, with a 25% CAGR.

Financial performance

• FY 2025 net revenue reached $113 million, with $89 million from domestic sales and $24 million from international sales.

• Gross margin stood at 49%, adjusted EBITDA at $23 million, free cash flow at $5 million, and adjusted net income at $10 million.

• International sales accounted for 21% of total sales in the last twelve months.

• Strong financial performance with industry-leading margins and consistent free cash flow generation over four years.

• 2026 outlook projects net revenue of $130–$135 million and adjusted EBITDA of $27–$31 million, implying a 21–23% margin.

Strategic execution and operational strengths

• Leadership team has over 36 years of collective cannabis expertise, successfully reorganizing and scaling operations post-merger.

• Demonstrated ability to scale manufacturing and grow facilities, delivering over $100 million in annualized sales.

• Domestic segment characterized by stable growth and improving market dynamics, while international segment is fast-growing with favorable pricing.

• Leveraging EU GMP certification to access and expand in high-growth international markets.

• Focused on product innovation, operational efficiency, and expanding branded and white-label offerings globally.