#1WATS TM Investor Presentation May 2023#22 Disclaimer Note to Reader: This informational meeting regarding ATS Corporation is for you to familiarize yourself with the Company. We are not making any offers of securities at this time, and cannot accept orders for any securities at this time. Accordingly, this presentation shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Unless otherwise indicated or the context otherwise requires, all references in this presentation to the "Company", "ATS", "we", "our", "us", or similar terms refers to ATS Corporation, together with its subsidiaries. This presentation and the oral statements made during this meeting may contain certain statements that constitute forward-looking information within the meaning of applicable Canadian and United States securities laws, including the United States Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). Forward-looking statements include all statements that are not historical facts regarding possible events, conditions or results of operations that ATS believes, expects or anticipates will or may occur in the future, including, but not limited to, expanding our presence in emerging markets; disciplined acquisitions; various market opportunities for ATS; the impact of secular trends and opportunities; achieving target growth in certain markets; M&A potential; and the execution of ATS' business strategy. Such forward-looking statements are inherently subject to significant known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of ATS, or developments in ATS' business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Important risks, uncertainties and factors that could cause actual results to differ materially from expectations expressed in the forward-looking statements include, but are not limited to, the impact of regional or global conflicts; general market performance including capital market conditions and availability and cost of credit; performance of the markets that ATS serves; industry challenges in securing the supply of labour, materials, and, in certain jurisdictions, energy sources such as natural gas, impact of inflation; interest rate changes; foreign currency and exchange risk; the relative strength of the Canadian dollar; risks related to customer concentration; risk related to a recession, slowdown, and/or sustained downturn in the economy; impact of factors such as increased pricing pressure, increased cost of energy and supplies, and delays in relation thereto, and possible margin compression; the regulatory and tax environment; the emergence of new infectious diseases and pandemics, including the potential resurgence of COVID-19 and/or new strains of COVID-19 and collateral consequences thereof, including the disruption of economic activity, volatility in capital and credit markets, and legislative and regulatory responses; the effect of events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transaction counterparties, or other companies in the financial services industry generally, or concerns or rumours about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity problems; energy shortages and global prices increases success and impact of the initiatives that ATS is undertaking; failure of the ATS Business Model ("ABM") to realize upon its objectives; ATS is unable to expand in emerging markets, or is delayed in relation thereto, due to any number of reasons, including inability to effectively execute organic or inorganic expansion plans, focus on other business priorities, or local government regulations or delays; the inability to successfully expand organically or through acquisition due to an inability to grow expertise, personnel, and/or facilities at required rates or to identify, negotiate and conclude one or more acquisitions, or to raise, through debt or equity, or otherwise have available, required capital, that acquisitions made are not integrated as quickly or effectively as planned or expected and, as a result, anticipated benefits and synergies are not realized; that the Company is not successful in growing its product portfolio and/or service offering or that expected benefits are not realized; and other risks and uncertainties detailed from time to time in ATS' filings with securities regulators, including, without limitation, the risk factors described in ATS' annual information form for the fiscal year ended March 31, 2023, which are available on the System for Electronic Document Analysis and Retrieval ("SEDAR") and can be accessed at www.sedar.com and the Electronic Data Gathering and Retrieval system ("EDGAR") and can be accessed at www.sec.gov. ATS has attempted to identify important factors that could cause actual results to materially differ from current expectations, however, there may be other factors that cause actual results to differ materially from such expectations. Forward-looking statements are necessarily based on a number of estimates, factors and assumptions regarding, among others, management's current plans, estimates, projections, beliefs and opinions, the future performance and results of the Company's business and operations; the assumption of successful implementation of margin improvement initiatives; and general economic conditions and global events, including the COVID-19 pandemic. Forward-looking statements included in this presentation are only provided to understand management's current expectations relating to future periods and, as such, are not appropriate for any other purpose. Although ATS believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and ATS cautions you not to place undue reliance upon any such forward- looking statements, which speak only as of the date they are made. ATS does not undertake any obligation to update forward-looking statements contained herein other than as required by law. Unless otherwise indicated, information contained in this presentation concerning our industry and the markets in which we operate, including our general expectations and market position, market opportunities and market share, is based on information from independent industry organizations, other third-party sources (including industry publications, surveys, and forecasts) and management studies and estimates. Unless otherwise indicated, our estimates are derived from publicly available information released by independent industry analysts and third-party sources, as well as data from our internal research, and include assumptions made by us which we believe to be reasonable based on our knowledge of our industry and markets. Although ATS believes these sources to be generally reliable, market and industry data is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process, and other limitations and uncertainties inherent in any statistical survey. Our internal research and assumptions have not been verified by any independent source, and we have not independently verified any third-party information. While we believe the industry information included in this presentation is generally reliable, such information is inherently imprecise.#33 Disclaimer Non-IFRS Measures and Other IFRS Measures: Throughout this presentation management uses certain non-IFRS measures, non-IFRS ratios and supplementary financial measures to evaluate the performance of the Company. The terms "adjusted EBITDA", and "organic revenue", are non-IFRS measures, "adjusted EBITDA margin" and "organic revenue growth" are non-IFRS ratios, and "operating margin", "CAPEX", "Order Bookings", and "Order Backlog", are supplementary financial measures, all of which do not have any standardized meaning prescribed within International Financial Reporting Standards ("IFRS") and therefore may not be comparable to similar measures presented by other companies. Such measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. In addition, management uses "earnings from operations", which is an additional IFRS measure, to evaluate the performance of the Company. Earnings from operations is presented on the Company's consolidated statements of income as net income excluding income tax expense and net finance costs. Operating margin is an expression of the Company's earnings from operations as a percentage of revenues. Adjusted EBITDA is defined as earnings from operations excluding depreciation and amortization before items excluded from management's internal analysis of operating results, such as amortization expense of acquisition-related intangible assets, acquisition-related transaction and integration costs, restructuring charges, the mark-to-market adjustment on stock-based compensation and certain other adjustments which would be non-recurring in nature ("adjustment items"). Organic revenue is defined as revenues in the stated period excluding revenues from acquired companies for which the acquired company was not a part of the consolidated group in the comparable prior period. Organic revenue growth compares the stated period organic revenue with the reported revenue of the comparable period. Adjusted EBITDA margin is an expression of the Company's adjusted EBITDA as a percentage of revenues. CAPEX is defined as cash expenditures on property, plant and equipment and intangible assets. Order Bookings represents new orders for the supply of automation systems, services and products that management believes are firm. Order Backlog is the estimated unearned portion of revenues on customer contracts that are in process and have not been completed at the specified date. Following amendments to ATS' Restricted Stock Unit ("RSU") Plan in 2022 to provide for settlement in shares purchased in the open market and the creation of the employee benefit trust to facilitate such settlement, ATS began to account for equity-settled RSUs using the equity method of accounting. However, prior RSU grants which will be cash-settled and deferred stock unit ("DSU") grants which will be cash-settled are accounted for as described in the Company's annual consolidated financial statements and have significant volatility period over period based on the fluctuating price of ATS' common shares. As a result, certain Non-IFRS Financial Measures (EBITDA, adjusted EBITDA, net debt to adjusted EBITDA, adjusted earnings from operations and adjusted basic earnings per share) have been revised from previously disclosed values to exclude the impact on stock-based compensation expense of the revaluation of DSUs and RSUs resulting specifically from the change in market price of the Company's shares between periods. Management believes that this adjustment provides further insight into the Company's performance, as share price volatility drives variability in the Company's stock-based compensation expense. Earnings from operations, operating margin, adjusted EBITDA and adjusted EBITDA margin are used by the Company to evaluate the performance of its operations. Management believes that adjusted EBITDA is an important indicator of the Company's ability to generate operating cash flows to fund continued investment in its operations. The adjustment items used by management to arrive at these metrics are not considered to be indicative of the business' ongoing operating performance. Management believes that organic revenue and organic revenue growth, when considered with IFRS measures, allow the Company to better measure the Corporation's performance and evaluate long-term performance trends. Organic revenue growth also facilitates easier comparisons of the Company's performance with prior and future periods and relative comparisons to its peers. CAPEX is used by the Company as an indicator of growth. Order Bookings provide an indication of the Company's ability to secure new orders for work during a specified period, while Order Backlog provides a measure of the value of Order Bookings that have not been completed at a specified point in time. Both Order Bookings and Order Backlog are indicators of future revenues the Company expects to generate based on contracts that management believes to be firm. Management believes that ATS shareholders and potential investors in ATS use these additional IFRS measures and non-IFRS financial measures in making investment decisions and measuring operational results. Please refer to the Appendix of this presentation for a reconciliation of these non-IFRS measures to the most directly comparable IFRS measure. TM Trademarks: This presentation includes certain trademarks, which are protected under applicable intellectual property laws and are the property of the Company. Solely for convenience, our trademarks referred to in this presentation may appear without the ® or ™ symbol, but such references are not intended to indicate, in any way, that we will not assert our rights to these trademarks to the fullest extent under applicable law. All other trademarks used in this presentation are the property of their respective owners.#4ATS at a Glance ATS TSX & NYSE 6,500+ Employees 60+ Facilities 80+ Offices 20+ Countries MANUFACTURING FACILITIES OFFICES محبت ~C$6bn Mkt. Cap4 C$2.6bn Revenues2 (TTM) C$401mm Adj. EBITDA¹² (TTM) 15.6% Adj. EBITDA Margin¹² (TTM) 18.2% 5-yr Rev. CAGR³ 8.6% 5-yr Avg. Organic Rev. Growth 23.9% 5-yr Adj. EBITDA CAGR 1,3 Note: Employee, facility, office and country data as of March 31, 2023. 1 Please see "Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures." 2 Revenue, Adj. EBITDA and Adj. EBITDA margin data for 12 months ended March 31, 2023. ³ CAGR data from FY18 - FY23. Fiscal year end of March. 4 As of May 26, 2023, including 6.9 million shares to be issued in relation to the previously announced IPO on the NYSE. 4 A decentralized global technology and automation solutions provider#5What We Do 5 petrol- Diversified Customer & Revenue Base Consumer 12% Energy 4% Products & Components ~18% of Revenues¹ ATS-developed products components (hardware software) TM Examples SuperTrak™-revolutionary pallet transport system Illuminate Factory Floor Management System ATS Smartvision software MARCO LineMaster - IoT enabled weighing scale 1 Based on FY23 Automation & Integration Solutions ~63% of Revenues¹ Standalone machines, complete systems & Enterprise programs Examples High speed tube filling Semi-autonomous food weighing & handling Battery & EV motor assembly and test lines High speed assembly lines for inhalers / IV sets Services ~19% of Revenues¹ Front-end design & analysis, after-market services (retooling / retrofitting, supply chain management & maintenance) Examples Retrofit of nuclear power plants Remote diagnostics Process optimization Preventative maintenance Emergency and on-call support Life Sciences 47% Revenue By Segment¹ Transportation 23% Food & Beverage 14% Asia/Other 9% Revenue Europe 32% By Region¹ North America 59% End-to-end solutions to transform, streamline, and optimize customer operations#6Key Investment Highlights 6 A Market Leading Provider of End-to-End Automation Solutions 2 Strategically Positioned in Large Attractive Markets with Long-term Secular Tailwinds AWA 3 Application of ABM Drives Operating Improvements, Growth and Innovation 4 Expanding Presence in Strategic High Growth, Low Cyclicality End Markets 5 Capital Allocation Focused on Expanding Positions in Regulated Markets and Compounding Growth Through M&A 6 Strong Track Record of Revenue Growth and Margin Expansion, with Low Capex Requirements 7 Experienced Management Team Stable and highly resilient business#7Provider of End-to-End Automation Solutions 7 Pre-Automation Discovery & Analysis 1 Automation Products & Integration Post-Automation Concept Development Design/Build Utilize ATS Product Portfolio Supply Chain Management IT & MES Integration Installation, Commissioning Support & Training Lifecycle Management Customer Inputs Business Plan #squ ATS' Approach to Delivering Customer Value Time to Market Total Cost of Ownership . Capital Investment . Labor and Suppliers Overall Equipment Effectiveness • Infrastructure • Industrial Programs • Incentives Post-Project Support Customer Outputs Help customers transform, streamline and optimize their operations#8ATS Solution in Action Customer Challenge Develop U.S. manufacturing to mitigate supply chain risks Need for automated solution to offset higher labor costs in the U.S. Required highly sophisticated solution to properly manufacture complex OmniPod Insulin Management System TM WATS™ Solution SuperTrak Innovative Technology End-to-End Solution 8 fot. omnipod DASH™ INSULIN MANAGEMENT SYSTEM Technical Expertise Services & Support 1 Customer Results Increased annual production from 12 million to 26 million units Reduced total labor cost in the U.S. below levels previously achieved by facility in China Reduced labor requirements from ~500 to 12 people per line Substantial increase in gross margin Source: ATS Investor Day presented September 18, 2018. ATS provides customers solutions to solve a breadth of challenges#9Strategically Positioned in Large Attractive Markets 2 Levered to Positive Secular Trends Life Sciences F23 Revenues (C$ mm) Focus Areas Medical Devices Pharmaceuticals $1,210 Radiopharmaceuticals Chemicals Labor Cost Inflation Transportation EV/Hybrid $578 Automotive Aerospace Food & Beverage $371 Consumer $305 Fresh Produce Processing Sorting and Inspection Beverage Processing & Filling Warehouse Automation Personal Care Cosmetics Nuclear Energy $113 Clean Energy Total: $2,577mm De-risking of Manufacturing and Supply Chains Demand for Safety and Reliability Increasing Complexity of Automation Ecosystem Automation Supporting Transition to Electric Vehicles 6 Target growth in attractive market verticals#10Application of ATS Business Model (ABM) Drives Innovation and Operating Improvement //ATS™ BUSINESS MODEL STRENGTHEN 10 10 PEOPLE Winning as a team PROCESS Formal and disciplined PERFORMANCE Delivering value KPI's 3 DELIVER PURSUIT OF OUR CORE GROWTH EXCELLENCE Customer First Performance Management Value Drivers Daily Management Monthly Customer Success Organization/Talent Development Long Term Value Strategic Planning Process Goal Deployment Business Reviews Continuous Improvement Annual Operating Plan Pioneering Innovation Repeatable model to drive performance and growth#11Application of ATS Business Model (ABM) Drives Innovation and Operating Improvement The 8 Value Drivers Financial: EBIT Bookings Revenue Margin¹ Working Capital Customer: People: On-Time Delivery Internal Quality Fill Rate Employee Turnover 3 Continuous Improvement 1EBIT Margin is also referred to as operating margin, which is an additional IFRS measure, please refer to "Non-IFRS Measures and Other IFRS Measures" disclaimer. Standardized performance measurement across all business units 11#12Expanding Presence in Strategic Core Markets Attractive Markets Barriers to Entry: Regulated environments Technologically intense Complex processes Quality critical Market Dynamics: Life Sciences: demographics, new treatments, new ailments, disposables Food: government regs, quality, demographics EV: government regs, CO² reduction New frontiers, factory optimization, digitization Life Sciences Food 12 Electric Vehicles New Frontiers 4 Enablers INNOVATION DIGITAL GROWTH STRATEGIC M&A $$0 MARGIN Til IMPROVEMENT Differentiated technologies/products IIOT, serialization, predictive maintenance, real-time optimization Strengthen and expand portfolio Standardization, supply chain, operational leverage, after-sales services growth, ABM Targeting attractive markets with high barriers to entry and strong secular growth drivers#13Capital Allocation Focused on Expanding Positions in Regulated Markets & Compounding Growth Through M&A 13 Targeting Value Creation in Attractive Markets What We Look For Growth orientated Attractive Markets ■Low cyclicality Strategic Value ■Regulated spaces ■■Differentiated technology Innovative products ■Niche applications ■Geographic penetration Operational Fit Ability to manage ■Synergy potential Recent Acquisitions →SP Acquired: Dec 2021 Price: US$450mm CFT LEADERS INNOVATE. Acquired: Mar 2021 Price: ~C$260mm 5 End Market Exposure Life Sciences Food Financial Returns ABM implementation ROIC > Cost of capital ■Strong EBITDA potential Recurring revenue EPS accretion COMECER Acquired: Feb 2019 Price: €113mm Other Acquisitions Triad Reliability Engineering Provider Acquired: Mar 2023 BioDot Fluid Dispensing Equipment Provider Acquired: Jun 2021 Zi-Argus Automation system integrator Acquired: Mar 2023 DF S.r.l Pharma Equipment Provider Acquired: Nov 2021 IPCOS Production Process Optimization Acquired: Dec 2022 BLSG Process Engineering Consultant Acquired: Aug 2021 $1.4 billion of M&A capital successfully deployed since 2017 Life Sciences HSG Pharma system integrator Acquired: Dec 2021 NCC Precision Conveyance Provider Acquired: Sep 2021#14Strong Track Record of Revenue Growth and Margin Expansion, with Low Capex Requirements Revenues (C$ mm) Order Bookings (C$ mm) 14 $2,577 18.2% CAGR $2,183 $1,430 $1,430 $1,254 $1,115 2018 2019 2020 2021 $137 $3,256 22.5% CAGR $2,456 اس $1,626 $1,408 $1,468 $1,182 2022 2023 2018 2019 2020 Adj. EBITDA 1,2,3 (C$ mm) Adj. EBITDA % Margin 23.9% CAGR $401 $360 $193 $208 $163 16.5% 15.6% 14.5% 13.4% 13.0% 12.3% 2018 2019 2020 2021 2022 2023 Net Income $47.2 $70.8 $52.9 $64.1 $121.4 $127.7 2021 Capex4 (C$ mm) $57 $41 $26 2018 2019 2020 $32 2021 2022 2023 $53 2022 $80 2023 6 2 Please see "Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures. Adjusted EBITDA is adjusted for items excluded from management's internal analysis of operating results. 3 The composition of certain non- IFRS measures has been revised to exclude the impact of stock-based compensation expense caused by mark-to-market impacts from changes in the Company's share price. 4 Includes capex and acquisition of intangibles. Strong execution and focus on attractive markets#1515 Experienced Management Team Name Background D Andrew Hider CEO DANAHER Ryan McLeod CFO Taylor Made Name Christian Debus President Process Automation Solutions Steve Emery Background Name Background 7 camfil RECARO Malik Solutions DAIMLER Simon Roberts SVP, After Sales and BOMBARDIER A Service CIBC MELLON Vice President SCIEX EY The Power of Precision Global Procurement EADS AMETEK Fiona Cleland Nielsen SVP, Strategy & Honeywell Corporate Development D. Tektronix DANAHER Angella Alexander Honeywell Prakash Mahesh Hospira Chief Human Group Executive, Resources Officer Ford Life Sciences GE Dr. Heinrich Sielemann President and Managing Director, IWK SONOCO D Jeff Adamson Chief Information Officer Benchmark SANMINA Udo Panenka President, Industrial Automation ESKO⭑ DANAHER KM Cameron Moyer Vice President, ABM Stewart McCuaig Vice President, General Counsel electronics SYNDESIS MKS A PTC Company Sims Clement Eastman Jeremy Patten President, Products and Food Technology C IDEX Material Processing Technologies D DANAHER Experienced and proven leadership team GEA ungintuering for batter werled DANAHER EBAD Ensign-Bickford Aerospace & Defense#1616 Summary ATS 40+ years | TSX & NYSE: ATS Solid Foundation ATS Business ATS LIFE SCIENCES Model COMECER AN ATS COMPANY IWK A SYMPHONI™ Well Positioned ATS™ INDUSTRIAL AUTOMATION Expanding Services SuperTrak BIO DOT CONVEYANCE ASCONANY CFT NC-C гау TEC VISION LEADERS NCC AUTOMATED SYSTEMS Innovation in Sorting Equipment ORCHESTRATED MOTION POWERFUL RESULTS AN ATS COMPANY INNOVATE. 00000 Driving Innovation M&A Potential Illuminate MANUFACTURING INTELLIGENCE PROCESS AUTOMATION SOLUTIONS AN ATS COMPANY MARCO® AN ATS COMPANY //ATS LIFE SCIENCES SCIENTIFIC PRODUCTS#17Appendix 1 Reconciliation of Non-IFRS Measures to IFRS Measures 2 Reconciliation of previously reported amounts due to addition of mark to market adjustment of stock-based compensation to adjustment items 3 Reconciliation of previously reported amounts due to measurement period adjustments in Q3 F22 17 ■ATS TM#18Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures (C$ mm) F2018 F2019 F2020 F2021 F2022 F2023 Measure (C$ mm)¹ F2018 F2019 F2020 F2021 F2022 F2023 Adjusted EBITDA 137.2 162.6 192.8 208.0 359.5 401.2 Restructuring charges 11.2 26.6 14.3 5.9 27.5 Opening Order Backlog 681 746 904 942 1,160 1,438 Share purchase allowance Gain on sale of facility Acquisition-related transaction costs Acquisition-related inventory fair value charges Contingent consideration adjustment Mark to market portion of | (5.3) Revenues (1,115) (1,254) (1,430) (1,430) (2,183) (2,577) 4.7 1.5 6.7 12.0 3.1 Order Bookings 1,182 1,408 1,468 1,626 2,456 3,256 | | - | 25.7 9.2 Order Backlog Adjustments (2) 4 22 5 36 - - | - (5.6) (1.7) Ending Order Backlog 746 904 942 1,160 1,438 2,153 3.9 0.7 (2.3) 7.3 15.6 13.4 stock based compensation EBITDA 122.1 157.2 167.0 190.6 302.0 348.0 Less: depreciation and 36.6 42.4 71.4 71.0 115.4 125.5 amortization expense Earnings from operations 85.5 114.8 95.6 119.6 186.6 222.5 Less: net finance costs 23.8 20.9 28.1 40.1 32.2 62.7 Less: provision for income 14.5 23.1 14.6 15.4 33.0 32.1 taxes Net income 47.2 70.8 52.9 64.1 121.4 127.7 1 18 Order Backlog ties to supplemental measure, not Non-IFRS to IFRS reconciliation#1919 Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures (C$ mm) F2018 F2019 F2020 F2021 F2022 F2023 Organic revenue 1,100.1 1,230.5 1,327.1 1,388.0 1,721.9 2,382.1 Revenues of acquired companies 12.8 111.5 25.3 521.7 201.7 FX impact Total revenue 14.8 10.3 (8.9) 16.7 (60.9) (6.4) 1,114.9 1,253.6 1,429.7 1,430.0 2,182.7 2,577.4 Annual organic revenue growth 8.8% 10.4% 5.9% (2.9)% 20.4% 9.2% Measure (C$ mm) F2018 F2019 F2020 F2021 F2022 F2023 Acquisition of property, plant and equipment (19.9) (21.1) (45.4) (21.5) (36.3) (56.1) Acquisition of intangible assets (6.1) (19.8) (11.1) (10.0) (17.0) (24.2) CAPEX (26.0) (40.9) (56.5) (31.5) (53.3) (80.3)#20Appendix: Reconciliation of Non-IFRS Measures to IFRS Measures (C$ mm) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 F2022 F2022 F2022 F2022 F2023 F2023 F2023 F2023 Total stock-based compensation expense Less: Mark to market portion of stock-based compensation $8.8 $10.5 $12.7 $0.8 $(4.0) $5.3 $9.9 $19.3 6.4 6.1 7.3 (4.2) (8.3) 1.0 5.6 15.1 Base stock-based compensation expense $2.4 $4.4 $5.4 $5.0 $4.3 $4.3 $4.3 $4.2 (C$ mm) Q1 Q2 Q3 Q4 Q1 Q2 Q3 F2022 F2022 F2022 F2022 F2023 F2023 F2023 Previously reported: adjusted earnings from operations $65.4 $70.7 $70.4 $85.8 $87.5 $75.1 $80.6 Mark to market portion of stock-based compensation 6.4 6.1 7.3 (4.2) (8.3) 1.0 5.6 Revised: adjusted earnings from operations $71.8 $76.8 $77.7 $81.6 $79.2 $76.1 $86.2 Previously reported: adjusted EBITDA $77.9 $83.3 $83.5 $99.1 $100.8 $88.8 $95.1 Mark to market portion of stock-based 6.4 6.1 7.3 (4.2) (8.3) 1.0 5.6 compensation Revised: adjusted EBITDA $84.3 $89.4 $90.8 $94.9 $92.5 $89.8 $100.7 Previously reported: adjusted basic earnings per share $0.48 $0.53 $0.52 $0.64 $0.64 $0.50 $0.52 Mark to market portion of stock-based 0.07 0.07 0.08 (0.05) (0.09) 0.01 0.06 compensation Tax impact of mark to market portion of stock-based compensation (0.02) (0.01) (0.02) 0.01 0.02 (0.02) Revised: adjusted basic earnings per share $0.53 $0.59 $0.58 $0.60 $0.57 $0.51 $0.56 20 20#2121 2 Reconciliation of previously reported amounts due to measurement period adjustments in Q3 F2022 As disclosed in the Company's Interim Condensed Consolidated Financial Statements for the period ended December 26, 2021, certain amounts for the previously reported six months ended September 26, 2021 were re-presented as a result of measurement period adjustments for the acquisitions of CFT, BioDot and NCC, as required by IFRS 3 - Business Combinations. For clarity, the adjustments are summarized below. There were no changes to Adjusted Earnings from Operations, Adjusted EBITDA, or Cash Flows Provided by Operating Activities as reported in the Company's Management Discussion and Analysis for the Quarter Ended December 26, 2021. (C$ mm, except per share amounts) Q1 F2022 Q2 Q3 Q4 F2022 F2022 F2022 F2022 51.9 55.4 38.2 59.8 Earnings from operations (originally presented) Re-presented amounts at Q3 F2022 Acquisition-related inventory fair value charges¹ (5.6) (9.7) Amortization of acquisition-related intangible assets² (1.4) (2.0) Earnings from operations (re-presented at Q3 F2022) 44.9 43.7 38.2 59.8 186.6 Finance costs and provision for income taxes (originally presented) (18.1) (17.0) (14.9) (19.9) Tax on re-presented amounts at Q3 F2022 1.9 2.9 Net income (re-presented at Q3 F2022) 28.7 29.6 23.3 39.9 121.43 Net income (originally presented) 33.9 38.4 23.3 39.9 Net income change (5.2) (8.8) Basic and diluted earnings per share Re-presented at Q3 F2022 0.31 0.32 0.25 0.43 1.32 Originally presented 0.37 0.41 0.25 0.43 EPS change (0.06) (0.09) (0.00) (0.00) 1. Adjustment included in Cost of revenues 2. Adjustment included in Selling, general and administrative 3. Totals may differ due to rounding