High Liner Foods Acquisition and Financial History

Q3 2023 YTD Adjusted EBITDA Earnings before Interest, Taxes, Depreciation and Amortization $100.0 25.0% $84.1 $78.5 $73.2 20.0% $75.0 $65.8 15.0% $50.0 10.0% 9.6% 8.7% $25.0 2022 5.0% 0.0% 2023 Standardized EBITDA** Adjusted EBITDA* Adjusted EBITDA as % of Sales * Please refer to the Company's MD&A for Q3 2023 for definition of non-IFRS financial measures "Standardized EBITDA" and "Adjusted EBITDA❞ **2022 Standardized EBITDA includes $10.0M of insurance proceeds Adjusted EBITDA decreased by $5.3M (6.7%) to $73.2M and decreased by 90 basis points as a percentage of sales to 8.7%. The decrease in gross profit and increase in net SG&A expenses, partially offset by the decrease in distribution costs.

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