Saputo (SAP) Investor presentation summary

Global scale and market presence

• Processes approximately 10 billion litres of milk annually across 54 plants and 49 distribution centres, with products sold in over 50 countries.

• Holds leading positions in cheese and dairy products in Canada, the US, Australia, and the UK.

• Employs around 18,100 people globally, supporting a diversified product and geographic portfolio.

Financial performance and portfolio mix

• Last twelve months (LTM) revenues reached $17.6B, with LTM adjusted net earnings of $716M.

• EBITDA is balanced across Canada (40%), USA (40%), and International/Europe (20%).

• Product mix includes cheese (47%), dairy foods (32%), milk (11%), by-products/ingredients (6%), and non-dairy (4%).

• Revenue is split across retail (50%), foodservice (34%), and industrial (16%) channels.

Growth strategy and capital allocation

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

• Annual capex averaged $405M (FY18–FY21), rising to ~$514M (FY22–FY26), with a focus on value-added cultured, protein, and functional dairy segments.

• Strategic M&A targets high-potential, synergistic opportunities with clear paths to value creation and returns exceeding cost of capital.

• Capital allocation includes share buybacks (5% NCIB), a 2% dividend yield, and disciplined investments aligned with depreciation and amortization.