Saputo (SAP) Investor presentation summary

Strategic positioning and market overview

• Processes approximately 11 billion litres of milk annually, operating 56 plants and 60 distribution centres, with products sold in over 60 countries.

• Holds leading market positions in the US, Canada, UK, Australia, and Argentina, with a diversified product and geographic portfolio.

• Revenue for FY26 reached $17.551B, with adjusted EBITDA of $1.659B and net earnings of $690M.

• Balanced exposure across retail, foodservice, and industrial channels, and a product mix led by cheese (47% of revenues).

• Maintains strong local brands tailored to regional preferences, leveraging global innovations.

Growth strategy and operational excellence

• Multi-year capital investments have modernized manufacturing, expanded high-margin capacity, and optimized the global footprint.

• Focused on value-added growth in cultured, protein, and functional dairy segments, supported by innovation and targeted M&A.

• Operational scale, automation, and digital technologies drive cost leadership and margin expansion.

• Vertically integrated model ensures supply chain security and resilience to global volatility.

• Network optimization and SG&A efficiencies are unlocking organizational and margin improvements.

Financial discipline and shareholder returns

• Strong cash flow generation, averaging $1.1B annually, supports reinvestment and growth initiatives.

• Net debt to adjusted EBITDA ratio improved to 1.37 as of March 31, 2026, with a long-term target of 2.25x.

• Annual dividend per share increased to $0.80 in FY26, reflecting over 25 years of consistent dividend growth.

• Balanced capital allocation includes share buybacks, dividends, disciplined capex, and strategic M&A.

• Returns on capital are accelerating as capital intensity moderates and operating leverage improves.