Slides
Page 1
INVESTOR PRESENTATION NOVEMBER 2025 TSX.V:DE
Page 2
CAUTIONARY STATEMENTS In this presentation, “Decisive” or the “Corporation” means Decisive Dividend Corporation and, where the context requires, its operating subsidiaries. FORWARD LOOKING INFORMATION Certain statements in this report constitute forward-looking information and forward-looking statements. All statements other than statements of historical fact contained in this report are forward-looking statements. Forward-looking information includes, without limitation, statements regarding the future financial position, operations, business strategy, future acquisitions, and the potential impact of completed acquisitions on the operations, financial condition, capital resources and business of the Company and its subsidiaries, the Company’s policy with respect to the amount and/or frequency of dividends, if any, budgets, forecasts, litigation, projected costs and plans and objectives of or involving the Company and/or its subsidiaries, as well as information relating to the future prospects of the Company and its operating subsidiaries, demand from customers, the timing of product sales and/or deliveries under existing customer contracts or significant orders received from customers, potential future acquisitions, and ongoing or planned initiatives to enhance margins and increase market share. Readers can identify many of these forward-looking statements by looking for words such as “believes”, “expects”, “could”, “will”, “may”, “intends”, “projects”, “anticipates”, “plans”, “estimates”, “continues” and similar words or the negative and grammatical variations thereof. Forward-looking statements are necessarily based upon a number of expectations or assumptions that, while considered reasonable by management at the time the statements are made, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are beyond the Company’s control and many of which are subject to change. Readers are cautioned to not place undue reliance on forward-looking statements which only speak as to the date they are made. Although management believes that the expectations and assumptions underlying such forward-looking statements are reasonable, there can be no assurance that such expectations or assumptions will prove to be correct. A number of risk factors could cause actual future results, performance, achievements and developments of the Company to differ materially from anticipated results, performance, achievements and developments expressed or implied by such forward-looking statements. Such risk factors include, but are not limited to: (i) operational risks, including risks related to acquisitions; dependence on customers, distributors and strategic relationships; supply and cost of raw materials and purchased parts; operational performance and growth; implementation of the growth strategy; product liability and warranty claims; litigation; reliance on technology, intellectual property, and information systems; (ii) financial risks, including risks relating to the availability of future financing; interest rates and debt financing; income tax matters; foreign exchange; dividends; trading volatility of common shares; dilution risk; (iii) external risks, including risks relating to general economic conditions; government regulation (including trade restrictions and tariffs); pandemics; competition; environmental regulation; access to capital; market trends and innovation; climate risk; general uninsured losses; and (iv) human capital risks, including reliance on management and key personnel; employee and labour relations; and conflicts of interest, all as more particularly described in the most recent Annual Information Form of the Corporation available on the Corporation’s profile at www.sedarplus.ca. Assumptions about the performance of the businesses of the Corporation are considered in setting the business plan and financial targets for the Corporation and its businesses. Key assumptions include assumptions relating to the demand for products and services of the businesses of the Corporation and relating to the Canadian and other markets in which the businesses are active. Should one or more of the risks materialize or the assumptions prove incorrect, actual results, performance or achievements of the Corporation may vary materially from those described in forward-looking statements. All forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Corporation disclaims any obligation to update any forward- looking information or forward-looking statements to reflect future events or results or otherwise. NON-GAAP FINANCIAL MEASURES In this presentation, in discussing the financial performance of the Corporation, reference may be made to “Adjusted EBITDA”, “Free Cash Flow”, “Growth Capital Expenditures”, “Maintenance Capital Expenditures”, “Dividend Payout Ratio” and “Return on Invested Capital”, which management of the Corporation believes are meaningful in the assessment of financial performance. These measures are not recognized financial measures under International Financial Reporting Standards (“IFRS”) and therefore may not be comparable to similar measures presented by other issuers. A reader should not place undue reliance on any Non-IFRS financial measures. The detailed descriptions of these Non-IFRS financial measures included in Decisive’s Management’s Discussion and Analysis (available on SEDAR at www.sedar.com) under the heading ”Non-IFRS Financial Measures” are incorporated by reference into this presentation, as are the quantitative reconciliations to their most directly comparable IFRS financial measure. 2 T S X . V : DE
Page 3
THE CATALYST 3 T S X . V : DE THE TRANSITION OF WEALTH RESULTING FROM THE MACROTREND OF AGING DEMOGRAPHICS IS A MAJOR CATALYST TO DECISIVE’S STORY OF GROWTH AND YIELD 1 Canadian Federation of Independent Business (CFIB) 8% 15% 39% 41% 25% 20% 20% 14% 8% 10% 2018 2022 2018 2022 2018 2022 2018 2022 2018 2022 Within 12 months In the next 1 to 5 years In the next 6 to 10 years More than 10 years from now Don't know/Unsure 49% 24% 23% 21% 17% 9% 9% 3% Sell to buyer(s) unrelated to my family Sell to family member(s) Sell to employee(s) Transfer to family member(s) Wind down the business Don't know/Unsure Sell to international buyer(s) Other 56 42 44 43 44 34 42 40 38 35 4 12 10 13 13 3 2 5 6 6 Protecting our current employees Getting the highest possible price Selected a buyer who will carry forward our way of doing business Ensuring the legacy of our business has built will carry on Ensuring our business remains in the community Very important Somewhat important Don't know / Unsure Not very important Not important at all Essential factors for owners when selling their business (% response) Method of exiting (% response)Expected business exit date, by year, 2018 and 2022 (% response) According to the Canadian Federation of Independent Business, 76% of business owners plan to exit their business within the next 10 years - meaning that over $2 trillion worth of business assets could change hands during this period Decisive’s (buy, build, hold) business model addresses concerns that resonate with legacy minded, exiting business owners
Page 4
BUY Acquire profitable, well-established, high quality manufacturing companies with enterprise values up to $25M BUILD Support the long-term success of the businesses acquired, with resources to help them achieve their potential HOLD Continue the business legacies of the vendors whose companies we acquire in the communities they are located. We do not buy a company to sell it WHAT WE DO 4 T S X . V : DE
Page 5
SHAREHOLDERS Dividend strategy Growing diversified portfolio of companies Strong deal flow Organic growth of existing companies Synergistic opportunities with existing companies and future acquisitions VENDORS Exit Opportunity Continuation of business legacy Opportunity to cash out Participate in future Decisive growth (min. 10% of purchase price paid in Decisive shares) EMPLOYEES Business as usual Opportunity for equity ownership (Employee Share Purchase Plan) Capital to grow the business Stability of long-term ownership . WHY DECISIVE?T S X . V : DE 5
Page 6
Completed 16 acquisitions in the first 10 years of operations First acquisition completed in February 2015 8 acquisitions completed in a 24-month span to April 2024 3 strategic tuck-in acquisitions June to November 2025 Healthy, and growing, pipeline of potential acquisitions Revenue 25% CAGR from 2015 to 2024 $6.59 per share in 2024; increased 68% from 2015 Adjusted EBITDA 26% CAGR from 2015 to 2024 $1.05 per share in 2024; increased 80% from 2015 Free Cash Flow less Maintenance Capital 27% CAGR from 2015 to 2024 $0.56 per share in 2024; increased 86% from 2015 September 30, 2025 Pro Forma TTM Results Revenue $147.0M or $7.44 per share Adjusted EBITDA $25.4M or $1.29 per share Net Profit $5.7M or $029 per share A STORY OF GROWTH & YIELD 6 Cumulative dividend payout of $45.9 million since 2015 Q3 2025 TTM Dividend Payout Ratio of 76% Current monthly dividend of $0.045 per share 6.7% yield as of November 4, 2025 T S X . V : DE YIELD GROWTH *In the above chart, per share revenue is measured on the left axis, while all other per share metrics are measured on the right axis.
Page 7
DECISIVE’S GROWTH AND YIELD STRATEGY HAS DRIVEN RETURNS WELL IN EXCESS OF RELEVANT INDICES DRIVING OUTSIZED RETURNS 7 T S X . V : DE 1Total return adjusted for dividend, assuming reinvestment S&P/TSX Venture Composite Index (JX), S&P/TSX Composite Dividend Index (TXDC), S&P/TSX Venture Composite Index (TSX); share price data from TSX InfoSuite Since the beginning of 2022: ~180% total return1(~31% annualized) Increased the monthly dividend 2022-2024 (currently $0.54 per share annualized) Completed 11 acquisitions Since inception: ~880% total return1(~24% annualized) Completed 16 acquisitions
Page 8
DISCIPLINED CRITERIA BUY / BUILD / HOLD STRONG PARTNERSHIPS Manufacturing sector, in existing verticals Sustainable competitive advantage Track record of profitable operations Cash flow positive with growth potential Enterprise value up to $25 million No early stage, technology, or hospitality companies Long-term leverage target of 50% Equity / 50% Debt Acquire 100% ownership Disciplined purchase price based on EBITDA multiple. Comprehensive due diligence Purchase consideration includes min. 10% Decisive shares, remainder in cash Vendors and key management have equity interest Provide capital to grow business Long-term ownership Subsidiaries continue to operate autonomously Maintain individual business identity Provide oversight through financial reports and business plans Partner with existing management to grow business Invest in growth opportunities Access to resources and talent ACQUISITION PHILOSOPHY 8 T S X . V : DE O B J ECTI V E: ACQUIRE PROFITABLE, WELL-ESTABLISHED COMPANIES WITH STRONG CASHFLOW O B J ECTI V E: MAINTAIN ACQUISITION MULTIPLE DISCIPLINE; HISTORICAL RANGE 3.5X–5.5X ADJUSTED EBITDA O B J E CTI V E: FUND ACQUISITIONS WITH LONG-TERM LEVERAGE TARGET OF 50% EQUITY / 50% DEBT
Page 9
ACQUISITIONS 9 T S X . V : DE 2018 ACQUIRED FOR $7.0M 16% EQUITY / 84% DEBT VERTICALS Agriculture, Mining, Waste Management HIGHLIGHTS Growth opportunities for both Turbo-MistTM agricultural sprayers and EcoMister TM wastewater evaporators FINISHED PRODUCT SEGMENT BUSINESSES 2022/2025 ACQUIRED FOR $14.3M 10% EQUITY / 90% DEBT VERTICALS Retail Stores, Consumer Packaged Goods HIGHLIGHTS Innovator of merchandising systems and consumer packaged goods displays for blue-chip retail customers. 2025 acquisition of retail service business with expected cross-selling, operational and cost synergies 2022 ACQUIRED FOR $8.3M 100% EQUITY VERTICALS Wood / Gas Stoves HIGHLIGHTS High quality, attractive products that are well positioned for the transition to stronger regulations Further details of these portfolio businesses are provided later in this presentation 2015 ACQUIRED FOR $6.9M 39% EQUITY / 61% DEBT VERTICALS Wood / Gas Stoves HIGHLIGHTS All Blaze King products meet stringent EPA requirements. Well-positioned as market leader 2023 ACQUIRED FOR $11.5M 60% EQUITY / 40% DEBT VERTICALS Road Maintenance, Road Construction, Agriculture, Mining, Oil & Gas HIGHLIGHTS Manufacturer of high-quality road maintenance and construction equipment 2023 ACQUIRED FOR $15.5M 41% EQUITY / 59% DEBT VERTICALS Agriculture HIGHLIGHTS Manufacturer and developer of high efficiency heating mats and lighting solutions for hog production
Page 10
ACQUISITIONS 10 T S X . V : DE 2016 ACQUIRED FOR $9.4M 72% EQUITY / 28% DEBT VERTICALS Mining, Cement, Aggregate HIGHLIGHTS Growing wear part opportunities in Central and South America and the Middle East 2018 ACQUIRED FOR $11.8M 100% EQUITY VERTICALS Oil & Gas, Utilities, Agriculture HIGHLIGHTS Precision machining capabilities. 2019 ACQUIRED FOR $11.6M 10% EQUITY / 90% DEBT VERTICALS Commercial Vehicles, Forestry, Mining HIGHLIGHTS Long-term contracted customer relationships with top tier multi-national companies COMPONENT MANUFACTURING SEGMENT BUSINESSES Further details of these portfolio businesses are provided later in this presentation 2023 ACQUIRED FOR $3.3M 64% EQUITY / 36% DEBT VERTICALS Mining, Oil & Gas, Road Construction, Forestry HIGHLIGHTS Manufacturer of high-quality radiator seals and grommets for heavy duty equipment 2023 ACQUIRED FOR $4.9M 65% EQUITY / 35% DEBT VERTICALS Mining, Oil & Gas, Road Construction, Forestry HIGHLIGHTS Manufacturer of high-performance radiators for heavy duty equipment 2024/2025 ACQUIRED FOR $7.0M 10% EQUITY / 90% DEBT VERTICALS Food & Beverage, Packaging, Textiles, Agriculture HIGHLIGHTS Manufacturer of PTFE , PU & PVC belting products for conveyor systems. Two 2025 strategic tuck-in acquisitions to expand product and servicing offerings
Page 11
CUMULATIVE ACQ. FUNDING MIX NOV 4, 2025 52% 48%DEBT EQUITY CORPORATE SNAPSHOT TRANSFER AGENT COMPUTERSHARE AUDITORS PRICEWATERHOUSECOOPERS LEGAL COUNSEL MLT AIKINS BANK SYNDICATE NATIONAL BANK, ROYAL BANK, DESJARDINS SHARE DATA NOV 4, 2025 5 2 WE E K RA NG E $5.81 - $8.32 T T M A VE RA G E D A I L Y V O L U M E 18.8K - TSXV C O M M O N S H A RE S , B A S I C / D IL U T E D 20.0M / 20.8M I NS ID E R O W NE R S H I P 2.1M / 10.6% M O NT H L Y DI V I D E ND $0.045 / 6.7% YIELD 11 LIQUIDITY CASH ON HAND + AVAILABLE CREDIT NOV 4, 2025 $38.1M NET DEBT FUNDED DEBT - CASH ON HAND NOV 4, 2025 $61.9M T S X . V : DE Reports record Q4 performance in Q4 2024 1 2 Reports record Q1 performance in Q1 2025 2 1 3 Announces 3 strategic acquisitions and record Q2 performance in Q2 2025 3
Page 12
DEBT & WORKING CAPITAL Syndicated credit facility with top tier lending syndicate: National Bank, Royal Bank, Desjardins. Fully revolving credit facility that can be utilized to fund working capital, capital expenditures, and acquisitions. No required principal payments for committed 3-year term. All drawn amounts mature in June 2028 with annual extension provisions. Variable interest rates tiered based on leverage ratios: November 4, 2025 effective rate 5.6% No fees on the $75 million accordion until drawn, can be requested in whole or in part to increase committed facility. Financial covenants consist of: 3.5:1 total debt to adjusted EBITDA ratio; reported 2.5:1 at September 30, 2025 1.5:1 interest charge coverage ratio; reported 2.1:1 at September 30, 2025 12 T S X . V : D E $100M COMMITTED FACILITIES $75M AVAILABLE ACCORDION $29.8MQ3 2025 Q4 2024 Q4 2023 $19.6M $30.4M WORKING CAPITAL EXCL. NET DEBT NET DEBT $62M NOV 4, 2025
Page 13
DIVIDEND 13 T S X . V : DE O B J E CTI V E: PROVIDE SUSTAINABLE AND GROWING DIVIDENDS TO SHAREHOLDERS CUMULATIVE PER SHARE DIVIDENDS PAID $3.572025 $1.64 2021 2018 $1.52 2020 $1.16 2019 $ 1.82 2022 $2.16 2023 DIVIDEND HIGHLIGHTS Monthly dividend payment Cumulative payout since completing first acquisition in 2015: $45.9 million Dividend Reinvestment and cash purchase plan “DRIP” in place. 2025 DRIP participation ~14% Dividend Payout Ratio - TTM Q3 2025 76% FYE 2024 96% FYE 2023 54% FYE 2022 62% Monthly dividend $0.045 per share; represents annualized dividend of $0.54 per share Represents 6.7% yield as of November 4, 2025 $2.59 2024 $3.12
Page 14
ADJUSTED EBITDA PER SHARE FREE CASH FLOW PER SHARE GROSS PROFIT% PROFIT PER SHARE Q3 2025 RESULTS DASHBOARD REVENUE $34.0M$32.2M$37.7M$25.9M 20222021 2023 2024 2025 $16.5M 14 ADJUSTED EBITDA $5.8M2025 2024 2023 $7.9M $5.6M T S X . V : DE GROSS PROFIT $13.4M2025 2024 2023 $12.0M $16.3M 2025 – 39% vs. 2024 – 37% vs. 2023 – 43% 2025 – $0.29vs. 2024 – $0.29 vs. 2023 – $0.43 2025 – $0.15vs. 2024 – $0.17 vs. 2023 – $0.26 2025 – $0.04vs. 2024 – $0.05 vs. 2023 – $0.15 PROFIT $0.8M2025 2024 2023 $0.9M $2.7M
Page 15
ADJUSTED EBITDA PER SHARE FREE CASH FLOW PER SHARE GROSS PROFIT% PROFIT PER SHARE 9mo 2025 RESULTS DASHBOARD REVENUE $109.4M$90.3M$99.2M$67.8M 20222021 2023 2024 2025 $44.6M 15 ADJUSTED EBITDA $18.1M2025 2024 2023 $18.0M $13.0M T S X . V : DE GROSS PROFIT $41.7M2025 2024 2023 $33.2M $39.0M 2025 – 38% vs. 2024 – 37% vs. 2023 – 39% 2025 – $0.91vs. 2024 – $0.67 vs. 2023 – $1.07 2025 – $0.50vs. 2024 – $0.35 vs. 2023 – $0.65 2025 – $0.19vs. 2024 – $0.01 vs. 2023 – $0.35 PROFIT $3.8M2025 2024 2023 $5.9M $0.1M
Page 16
HAWK MACHINE WORKS UNICAST, MICON & PROCORE SLIMLINE NORTHSIDE, SLIMLINE & CAPITAL I BLAZE KING & ACR19% 16% 15% 39% 11% SALES BY PRODUCT TYPE WOOD/GAS STOVE WEAR PARTS AGRICULTURE INDUSTRIAL MERCHANDISING MARKETING IMPACT, VENGER Wood/Gas Stove, Agriculture, Industrial, Merchandising & Wear Part products CANADA Agriculture, Merchandising, & Wear Part products CENTRAL & SOUTH AMERICA Wood/Gas Stove, Agriculture, Industrial, Merchandising & Wear Part products UNITED STATES Wear Part products GCC COUNTRIES 53% <1% 1% 34% 16 2025 REVENUE DIVERSIFICATION T S X . V : DE Agriculture & Wear Part products AUSTRALIA & NEW ZEALAND 2% Agriculture & Wear Part products ASIA <1% UK & EUROPE Wood/Gas Stove, Wear Part products 10% BLAZE KING & ACR UNICAST, MICON, PROCORE, TECHBELT SLIMLINE & IHT HAWK, NORTHSIDE, SLIMLINE, CAPITAL I
Page 17
WE REMAIN CONFIDENT IN THE LONG-TERM FUNDAMENTALS OF OUR BUSINESS MODEL SUMMARY Despite the uncertainty prevalent in the marketplace, especially with respect to Canadian manufacturing businesses, the strength of our operating results in Q3 2025 reinforced the benefits of the diversified nature of the of the portfolio of businesses we own and the differentiated products these businesses produce. Strong demand levels for the Group’s hearth, agricultural, wear part, merchandising and certain industrial products has current overall order backlogs 10% higher compared to this time last year, and that, combined with new products that have recently been or will soon be introduced are expected to support results over the next two quarters. Decisive has been not been significantly impacted by U.S. trade policy or direct tariff costs. U.S trade policy uncertainty is impacting the U.S. economy and our U.S. customers. Certain commercial vehicle and oil and gas customers have signaled demand declines as a result, which depending on the resilience of the U.S. economy may impact overall sales and profitability over the next two quarters. The diversified nature of Decisive's portfolio, the differentiated products it produces, and steps taken by leadership over the last year, including strategic tuck-in acquisitions, product and customer development, and investments in growth capital expenditures, have better positioned Decisive's businesses for long-term organic growth. Decisive is poised for continued long-term growth, with supportive lenders and shareholders, demonstrated progress around operational initiatives and new product introductions, and a strengthened balance sheet to pursue further acquisitions within our existing five focused business verticals. T S X . V : DE The following slides provide further details of Decisive’s portfolio businesses and leadership team 17
Page 18
ESTABLISHED 1977 ACQUIRED 2015 MARKETS USA, CANADA, NEW ZEALAND INDUSTRY HEARTH PRODUCTS LOCATIONS PENTICTON, BC WALLA WALLA, WA Blaze King is a recognized leader in the design and production of high quality, high efficiency wood stoves, inserts and gas heating products Their longer burn times and lower wood consumption are achieved by their unique combustion system where airflow is managed by a thermostat regulator and catalytic combustor HIGHLIGHTS Well positioned with stringent EPA Regulations; all Blaze King products meet new requirements and certified until Q4 2029 Blaze King has the top three most efficient wood stoves as listed by the EPA Number of North American wood stove manufacturers has declined by 45% from 2020 due to new regulations Number of certified wood stove fireboxes available in the market has declined by 65% from 2020 due to new regulations Developing new products to penetrate adjacent markets BLAZE KING 18 T S X . V : DE
Page 19
ESTABLISHED 1994 ACQUIRED 2016 MARKETS USA, CANADA, CENTRAL & SOUTH AMERICA, GCC COUNTRIES, AFRICA, ASIA, EUROPE INDUSTRIES CEMENT MINING AGGREGATE LOCATION KELOWNA, BC Unicast is known for producing and distributing cost effective, durable wear parts and valves for the cement, mining, and aggregate industries. Wear parts tend to wear out quickly when crushing rock which is done exclusively in these industries. The Unicast titanium carbide insert product line significantly improves the wear life of parts. HIGHLIGHTS Well established in North America Growing opportunities in Central and South America and the Middle East Opportunity for market share increases in large and active cement, mining, and aggregate industries Collaborative research and development partnership with major university Expanding sales force and product line offerings UNICAST 19 T S X . V : DE
Page 20
ESTABLISHED 1948 ACQUIRED 2018 MARKETS USA, CANADA INDUSTRIES AGRICULTURE MINING WASTE MANAGEMENT LOCATION PENTICTON, BC Slimline has been manufacturing and distributing Turbo-MistTM air blast sprayers since 1948, used primarily in the agriculture industry to apply treatments to apples, cherries, grapes, almonds, walnuts, oranges, and peaches Slimline designs, manufactures, and sells EcoMisterTM wastewater evaporator systems: environmental and economical solutions for the elimination of wastewater in mining, oil & gas and waste management facilities HIGHLIGHTS Turbo-MistTM sprayers manufactured to high standards with manufacturing processes developed and refined for over 50 years Established in the Pacific Northwest, Michigan, Pennsylvania and New York. Expanding into additional US markets (California, Florida, Georgia and South Carolina). EcoMisterTM known for being robust, environmentally friendly and cost effective. New HDXL model is the largest scale wastewater evaporator available in the market Expanding sales force and continuous investment in product development SLIMLINE 20 T S X . V : DE
Page 21
ESTABLISHED 1998 ACQUIRED 2018 MARKETS CANADA, USA INDUSTRIES OIL & GAS ELECTRICAL & UTILITIES AGRICULTURE LOCATION LINDEN, AB EDMONTON, AB Hawk is a precision machining and fabrication shop delivering comprehensive CNC machining solutions for a variety of industries including oil and gas, automotive, electrical and utilities, and agriculture Hawk is known for its exceptionally high-quality machined parts, tools, and equipment that meet the rigorous expectations of their clients HIGHLIGHTS “Turnkey Solution” including design, manufacturing, finish applications, part marking, assembly, testing & delivery Quality assurance is certified to ISO 9001:2015 Specialized skill and knowledge of down-hole frac tools Further customer and industry diversification initiatives underway March 2024 acquisition of Alberta Production Machining assets provides expanded operations footprint, access to people, and diversified capabilities HAWK T S X . V : DE 21
Page 22
ESTABLISHED 1967 ACQUIRED 2019 MARKETS USA, CANADA INDUSTRIES COMMERCIAL VEHICLES FORESTRY MINING OIL & GAS LOCATION WEST KELOWNA, BC Northside is a steel and aluminum fabrication business that leverages in-house engineering or customer designs for cutting and forming through to welding and powder coating, and primarily services the commercial vehicle and forestry industries Northside is an authorized partner for Hydrau-Flo®, a unique, fast fuel filling valve system that is safer, cleaner, and more reliable, preventing overfilling, spillage, and tank rupture HIGHLIGHTS Quality assurance is certified to ISO 9001:2015 Specialized skill and knowledge of commercial vehicle and heavy equipment component manufacturing Long-term contracted customer relationships with top tier multi- national companies Expanded into Marine industry. Marine fuel tanks tested and approved in North America. NORTHSIDE T S X . V : DE 22
Page 23
ESTABLISHED 1986 ACQUIRED 2022 MARKETS CANADA, USA INDUSTRY MERCHANDISING PRODUCTS LOCATION VAUGHAN, ON (IN THE GTA) Marketing Impact designs, manufactures, and distributes a comprehensive range of merchandising products, systems and solutions for retail customers including grocery stores, convenience stores, and pharmacies It also designs and manufactures displays for consumer-packaged goods for use within those same channels MARKETING IMPACT 23 T S X . V : DE HIGHLIGHTS Robust list of blue-chip, well-diversified retail customers with strong reputation for customer service, responsiveness, and innovation Leading innovator of merchandising systems and consumer packaged goods displays Customers throughout North America; well established in Eastern Canada with opportunities for growth in the United States and Western Canada Acquired Venger Group, a provider of specialized refurbishment of refrigerated display cases for grocery retailers across the United States with expected cross-selling, operational and cost synergies
Page 24
ESTABLISHED 2004 ACQUIRED 2022 MARKETS UK, EUROPE INDUSTRY HEARTH PRODUCTS LOCATION BIRMINGHAM, UK ACR manufactures Eco-design Ready woodburning, multifuel, and gas stoves, as well as electric stoves, electric fireplaces and outdoor pizza ovens. ACR has a well-established brand in the United Kingdom marketplace and is known for its high-quality and attractively designed products at accessible price points ACR HEAT PRODUCTS 24 T S X . V : DE HIGHLIGHTS Attractive modern designs well suited for the UK marketplace and compliant with UK and European emissions standards New product design that utilizes Blaze King’s combustion technology styled and sized for sale into the United Kingdom and European markets expected to be ready to market in 2025 Accessible price points provide alternatives for supplementary heating sources amidst high energy prices throughout Europe Supplementary product portfolio of electric stoves and gas stoves and launched 5 new products in 2025 Opportunities for growth across Europe and internationally
Page 25
ESTABLISHED 1991 ACQUIRED 2023 MARKETS CANADA, USA INDUSTRY HEAVY EQUIPMENT PRODUCTS LOCATION TISDALE, SK Capital I designs, manufactures and distributes high-quality road maintenance and construction equipment. Its innovative products include dozer blades, snow blades and wings, gravel reclaimers, gravel groomers, lifts, mulchers and mowers, that are used in the construction and maintenance of gravel roads. CAPITAL I T S X . V : DE HIGHLIGHTS Innovative products designed for optimizing maintenance of gravel roads Products tailored to fit all makes and models of heavy equipment used in road maintenance Strong and diverse customer base ranging from OEMs, dealers and municipalities Excess manufacturing capacity used to service various mining, oil and gas and agricultural customers Opportunities for growth in Eastern Canada and the United States 25
Page 26
ESTABLISHED 2006 ACQUIRED 2023 MARKETS AUSTRALIA, NEW ZEALAND, CANADA, USA, SOUTH AMERICA INDUSTRY HEAVY EQUIPMENT PRODUCTS LOCATION MERRITT, BC Procore designs, manufactures and distributes high-performance radiators and Micon branded high-quality radiator seals and grommets for heavy duty equipment. Its products are designed to help reduce downtime associated with cooling system failures of the heavy-duty equipment used in the mining, oil and gas and road construction industries. Procore manufactures a full line of folded core radiators as well as a growing list of AMOCS Radiators to fit into Caterpillar type equipment. PROCORE 26 T S X . V : DE HIGHLIGHTS Innovative product designs reduces expensive downtime for customers Strategic distribution hubs and distribution partners reduces time to fulfill orders Opportunity to expand product offering to fit additional OEM equipment manufacturers Opportunity for market share increases in active mining regions worldwide
Page 27
ESTABLISHED 1995 ACQUIRED 2023 MARKETS USA, CANADA, CENTRAL & SOUTH AMERICA INDUSTRY AGRICULTURE LOCATION WINNIPEG, MB Innovative Heating Technologies is a well-established manufacturer and developer of high efficiency heating mats and lighting solutions for hog production. The key competitive advantages for its products are durability, anti-microbial characteristics, energy efficiency, optimal heat distribution, and safety and hazard prevention, all of which promote animal welfare and cost savings for their customers. INNOVATIVE HEATING TECHNOLOGIES 27 T S X . V : DE HIGHLIGHTS Energy efficiency of its products results in significant energy savings for farmers (with some customers reporting reduction in energy consumption of 66%) Its products are aligned with precision agriculture, optimize heating conditions and enhancing animal welfare Opportunity for market share increases in key hog producing regions worldwide Opportunity to expand product offering with future launch of cooling mats and expanded use of fiberglass reinforced plastics into additional product lines
Page 28
ESTABLISHED 2002 ACQUIRED 2024 MARKETS UK, EUROPE, USA, CANADA, GCC COUNTRIES, AFRICA, ASIA INDUSTRY FOOD & BEVERAGE, PACKAGING, TEXTILES, AGRICULTURE LOCATION HUDDERSFIELD, UK Techbelt is a manufacturer of polytetrafluoroethylene (“PTFE”), polyurethane (“PU”) and polyvinyl chloride (“PVC”) belting products for conveyor systems used in a wide range of end markets. Techbelt also offers conveyor fabrication and servicing capabilities. Techbelt prides itself on its ability to provide technical solutions for customers and its rapid turnaround for delivery of a broad range of products at high specification for markets with compliance and regulatory requirements. TECHBELT 28 T S X . V : DE HIGHLIGHTS Solid reputation for technical problem solving, customer service, and innovation Strong and diverse customer base across various industries High-quality niche product offering that commands high margins Opportunity for organic growth through geographic sales expansion with proven worldwide distribution capabilities Completed two strategic tuck-in acquisitions to expand its PU and PVC belting products, diversifying its product suite, while also adding conveyor fabrication and servicing capabilities
Page 29
LEADERSHIP TEAM – HEAD OFFICE 29 T S X . V : DE JEFF SCHELLENBERG CHIEF EXECUTIVE OFFICER Over fifteen years of senior leadership experience including capital markets, finance, acquisitions, and operations RICK TORRIERO CHIEF FINANCIAL OFFICER Over twenty years experience in domestic and international finance, accounting, and taxation CHRIS GOODCHILD CHIEF OPERATING OFFICER Over twenty years experience including business development, logistics, maintenance, material planning, operational excellence, purchasing, and quality JULIE WILSON VP PEOPLE & CULTURE Over twenty-five years in senior human resources leadership roles across a variety of industries JOSH WIDMANN AVP ACCOUNTING Over ten years experience including accounting, assurance, management, and mentoring GAVIN FRETWELL AVP FINANCE Over ten years experience including acquisitions, due diligence, financial modeling, and capital markets
Page 30
LEADERSHIP TEAM - SUBSIDIARIES 30 T S X . V : DE JASON SEARLE ACR HEAT PRODUCTS Over twenty-five years of experience in the UK domestic heating industry delivering technical product design and sales expertise CORY MAGNUSON CAPITAL I Over twenty years of leadership experience with a focus on operational excellence, business development in new markets and strategic growth BRIAN MCDONALD PROCORE Over twenty years senior management leadership experience with extensive sales and operational experience across a range of industries CHRIS GRANT INNOVATIVE HEATING TECHNOLOGIES Over twenty-five years of plastics and manufacturing experience, as well as demonstrated domestic and international sales expansion success SIMON SPARKES TECHBELT Over twenty years of experience in leading operations in the PTFE coated fabrics industry delivering technical product design, and sales expertise ALAN MURPHY BLAZE KING Over twenty-five years of senior management experience in the wood and gas fireplace industry MARK WATSON UNICAST Over twenty-five years of experience in driving both operational performance as well as domestic and international sales expansion DARYLL LOWRY SLIMLINE Over twenty-five years of experience in sales, manufacturing, and supply chain with demonstrated experience driving operating performance and growth TIM STEWART HAWK Over twenty years of experience in leading operations with extensive knowledge of product development and global expansion success in various countries MARK BURLEIGH NORTHSIDE Over twenty years senior management leadership experience in manufacturing, including operations, engineering, procurement and strategic development MARC GOSSELIN MARKETING IMPACT Over twenty-five years of experience in the transportation, warehousing and manufacturing industries with a focus on building high performance teams and continuous improvement
Page 31
BOARD OF DIRECTORS WARREN MATHEOS KEY ACCOUNT MANAGER WEST, JAMIESON LABORATORIES LTD. G&C COMMITTEE TERRY EDWARDS FORMER CHIEF OPERATING OFFICER, DECISIVE DIVIDEND RISK COMMITTEE JAMES PATERSON LAWYER BOARD CHAIR TIM PIRIE PRESIDENT, PROSPECT ENERGY SERVICES VICE CHAIR G&C COMMITTEE CHAIR RISK COMMITTEE PETER JEFFREY PRESIDENT, PDJ & ASSOCIATES RISK COMMITTEE CHAIR BRUCE CAMPBELL PRESIDENT, STONECASTLE INVESTMENT MANGEMENT AUDIT COMMITTEE G&C COMMITTEE JEFF SCHELLENBERG CHIEF EXECUTIVE OFFICER, DECISIVE DIVIDEND ROBERT LOUIE CHIEF, WESTBANK FIRST NATION AUDIT COMMITTEE MICHAEL CONWAY PRESIDENT, STRATCON VENTURES INC. AUDIT COMMITTEE CHAIR 31 Seven of our directors are independent in that they have no direct or indirect business or other relationships that could reasonably be expected to interfere with the exercise of independent judgment. T S X . V : DE
Page 32
CONTACT INFORMATION DECISIVE DIVIDEND CORPORATION #260-1855 KIRSCHNER ROAD KELOWNA, B.C. V1Y 4N7 250-870-9146 WWW.DECISIVEDIVIDEND.COM CONTACT: JEFF SCHELLENBERG, CHIEF EXECUTIVE OFFICER, AT JEFF@DECISIVEDIVIDEND.COM OR RICK TORRIERO, CHIEF FINANCIAL OFFICER, AT RICK@DECISIVEDIVIDEND.COM 32 T S X . V : DE