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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L C o r p o r a t e P r e s e n t a t i o n Q 2 2 0 2 5
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L Notice & Disclaimer Confidentiality This presentation is confidential and contains proprietary information regarding EMERGE Commerce Inc. (the “Company”, “us” or“our”). Under no circumstances may the contents of this presentation be copied, reproduced, distributed or passed, in whole or in part, in any form or forwarded or further redistributed to any other person. Any forwarding, distribution or reproduction of this document in whole or in part is unauthorized. Without limiting the generality of the foregoing, by accepting this presentation, the recipient will have be deemed to have agreed (i) to maintain the confidentiality of this document and the information contained herein, (ii) to protect such information in the same manner the recipient would protect its own confidential information, which shall be at least a reasonable standard of care, (iii) not to reproduce this presentationin whole or in part and (ii) to promptly destroy of return all copies of this presentation and any analyses, compilations, studies or other documents prepared by or on behalf of the recipient and containing or reflecting any information in this presentation upon the Company’s written request. Disclaimer This presentation is a short summary of certain information for introductory purposes only, is not to be relied upon for investment purposes. The information contained in this presentation has been prepared for the purpose of providing interested parties with general information to assist them in their evaluation of the Company and does not purport to contain all information necessary for a thorough understanding of the Company, its business or future prospects, or the nature or extent of the risks to which any of them and their respective businesses and their respective futures, or that may be required by a prospective counterparty or investor. This presentation has been prepared to assist recipients in making their own independent evaluation of the Company. The information contained in this presentation is provided as at the date hereof and is subject to amendment, revision and updating in any way without notice or liability to any party. Certain information contained herein has been prepared from third-party sources. Such information has not been independently audited or verified by the Company. While the information contained herein has been prepared in good faith, neither the Company nor its shareholders, directors, officers, agents, employees, or advisors give, has given or has authority to give, any representations or warranties (expressor implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as “Information”) and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect,express or implied, contractual, tortuous, statutory or otherwise, in respect of the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising from the use of this presentation. This presentation is not an offer to sell or a solicitation of an offer to buy securities of the Company or any other company. Neither is this presentation an advertisement or promotion for the Company’s products or services. No securities regulator or commission has approved or expressed an opinion on the contents of this presentation. This presentation is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of securities. Forward-Looking Information This presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws and (“forward-looking statements”). Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations, assumptions and analyses made by us regarding the future of our business, future plans and strategies, our operational results and other future conditions. These forward-looking statements appear in a number of places throughout this Presentation and can be identified by the use of words, such as “anticipates,” or “believes,” “budget,” “estimates,” “expects,” or “is expected,” “forecasts,” “intends,” “plans,” “scheduled,” or variations of such words and phrases or state that certain actions, events or results “may,” “might,” “will,” “would,” “could”, “should,” “continue,” or be taken, occur or be achieved. These Forward-looking statements in this presentation include, but are not limited to, statements with respect to: the Company’sstrategy, development and commercialization plans and objectives (including target acquisitions including expected acquisition terms, sales roll out plans, the launch of “Want” global mobile mall app brand, projected milestones and timelines, estimated sales, revenue and EBITDA and cost metrics), market prices, values and other economic indicators and estimated valuation multiples. Forward-looking statements are based on certain material assumptions and analysis made by the Company, and the opinions and estimates of management as of the date such statements are made and they represent management's best judgment based on facts and assumptions that management considers reasonable in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. 2
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L 3 EMERGE Portfolio Overview EMERGE Commerce (TSXV: ECOM) is a Canadian Portfolio of Premium Brands Across Grocery & Golf verticals 1. Approx. combined revenue based on pro forma EMERGE (audited) + Tee 2 Green (unaudited) 2. Annual target gross margin based on approximate historical (unaudited) figures and management expectations. Gross margin may vary from quarter to quarter due to seasonality 3. Adjusted EBITDA is a non-GAAP measure, as defined in Company financial statements.. Based on combined Adjusted EBITDA (Pro Forma EMERGE + Tee 2 Green (unaudited)) 4 Brands 2 Verticals Canada Primary Market $27M Pro Forma Revenue (1) Positive Adj. EBITDA (3) Verticals Local Meat & Seafood Subscription Grocery Discounted Experiences, Apparel, & Equipment Golf A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L ~40% Target Gross Margin (2)
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L 4 1. Adj. EBITDA is a non-IFRS measure. 2. All figures are based on interim Q2 financials (unaudited) • Double-digit revenue growth — • 5th consecutive quarter • Positive Adj. EBITDA — 2nd consecutive quarter • Cash position grew QoQ & YoY — Strongest in years • First quarter of T2G under EMERGE ownership (+31% YoY organic growth) Q2 Revenue increased to $8.5M vs. $4.98M A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L Q2 Adj. EBITDA(1) increased to $963K vs. loss of ($43K) Cash increased to $3.5M (Q2 ‘25) vs. $2.7M (Q1 ‘25), and $2.2M (Q2 ‘24) +70% YoY +$1M YoY +$1.3M YoY Q2 2025 (vs. Q2 2024)
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L 5 • truLOCAL is the Canadian market leader in meat & seafood subscription, delivering locally sourced products, direct-to-consumers (“D2C”) • Operates 3 regional hubs (ON, BC, AB), with service across Canada • Largest EMERGE brand by revenue • Accelerating organic revenue and profit growth YoY • Predictable, re-occurring subscriptions drives the vast majority of revenue • Favorable Customer Lifetime Value (“CLTV”) to Customer Acquisition Cost (“CAC”) • Strong retention and highly loyal member community • truLOCAL revenue is~80% higher than pre-pandemic (2019) Key Performance Indicators (1) GROCERY – Local Meat & Seafood Subscription ~90% Returning Customers $230 Average Order Value (“AOV”) $1,983 Customer Lifetime Value (“CLTV (2) ) 5,373 Avg. Monthly Boxes $124 Avg. Customer Acquisition Cost (“CAC”) ~2 Boxes Avg. to Breakeven P R I V A T E & C O N F I D E N T I A L truLOCAL is a major strategic opportunity for EMERGE (ButcherBox.com is the U.S. market leader, a ~US$500M+ revenue business rumored to be valued at $500M-1BN) 1. truLOCAL KPIs based on average trailing-twelve-months (2024). All figures are approximate 2. CLTV calculated as subscription box revenue to date divided by Subscribers who have made a purchase
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L The “Buy Canadian” Movement • BMO estimates “Buy Canadian” movement will add $10 billion annually in consumer spend locally. 84% of Canadians surveyed say they considered buying more Canadian-made products in February(1). • truLOCAL reported Net new subscriptions(2) increased by 193% in February 2025, with continued positive momentum • Reduced cost per acquisition (CPA) of nearly ~20% YoY in February 2025 • truLOCAL has been ramping up advertising to drive brand awareness and grow market share with a focus on high ROI opportunities • New ad campaign and revamped website are having visible impacts on performance • “Nationally loved. Locally sourced.” 6 1.Sources: Bank of Montreal and Abacus Data. 2. Net new subscriptions is defined as new (paid) subscriptions initiated minus subscriptions cancelled in that same period. P R I V A T E & C O N F I D E N T I A L truLOCAL is at the forefront of the #SupportLOCAL movement sweeping the country.
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L 10x Case Study 7 GOLF – Discounted Apparel, Equipment and Experiences • UnderPar (“UP”) is a leading discounted golf experiences marketplace across Ontario, California and other golf regions • Double-digit organic revenue growth and significantly improved profitability • Weakening economic climate is conducive to UnderPar’s discount model (UnderPar was founded during the “Great Recession” in 2008- 09) • JustGolfStuff (“JGS”) is a discount golf apparel & equipment marketplace • EMERGE’s fastest growing business over last 5 years (~10x sales growth since 2019) A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L 1. Gross Merchandise Sales (“GMS”) reflects sales volume processed (non-IFRS measure). • Tee 2 Green (“T2G”) is a profitable golf apparel and equipment business with a 38-year track record • Diversified streams of income with 2 retail stores (Ontario), dozens of roadshows, an online store, custom fittings and simulator rentals • Long-term retail licensing agreements with major golf manufacturers such as Taylormade, Callaway, Cobra and Wilson • Includes private label brand, NORTHERN SPIRIT (golf bags and accessories), driving high gross margin 2019-2024 Sales (GMS in $M)
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L T2G: Acquisition Overview & Rationale Tee 2 Green is a profitable, golf apparel & equipment business, acquired at favorable terms and immediate synergies with our golf portfolio. P R I V A T E & C O N F I D E N T I A L • T2G generated revenue of $6.4M, Adj. EBITDA of $1M and net income of $700K in 2024 (unaudited) • Purchase price of $2.2M, including $1.1M cash on closing, $900K deferred consideration (5-year payment plan), and $200K in EMERGE shares issued • EMERGE also acquired $2.4M inventory on closing under an 8-year payment plan, providing a sizable cash flow advantage in 2025 • Scale digital ads: Leverage EMERGE’s digital team of marketing and tech experts to scale T2G advertising • Cross-sell: Promote T2Gs roadshows and stores to ~400,000 golfers, and feature UnderPar courses to T2G audience • Brand Partnerships: T2G has long-standing relationships in golf to pass along to JGS • Savings: Combined sales volume expected to reduce shipping costs. Opex reductions via shared resources Synergies A C Q U I R E | I N T E G R A T E | A C C E L E R A T E 8
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L 9 T2G: 90-Day Report Card T2G had a “homerun” first quarter under EMERGE, achieving exceptional organic revenue growth, profitability and cash flow, based on interim results (unaudited). 1 2 1. Results based on interim Q2 results (unaudited) 1P R I V A T E & C O N F I D E N T I A L Revenue increased to $3.3M vs. $2.5M +31% YoY EMERGE was able to comfortably exceed the $1.1M purchase price (upfront) in the less than ~90 days 9 Adj. EBITDA increased to $797K vs. $567K +37% YoY Q2 2025 (vs. Q2 2024)
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L Introducing EMERGE 3.0 EMERGE 1.0 EMERGE 3.0 ECOM 1.0: Diversified Portfolio - Decentralized / Low Synergy - Large HQ team and resources - High Debt - Unfavorable Macro - Centralized / HIGH Synergy - Accretive “tuck-in” acquisitions - Focus on cash flow generation - Long-term, cheaper debt facility - Favorable Macro ECOM 3.0: Strategic Growth TravelExperiences Pets Grocery Golf Grocery Golf 10P R I V A T E & C O N F I D E N T I A L A C Q U I R E | I N T E G R A T E | A C C E L E R A T E EMERGE 2.0 - Centralized / Medium Synergy - Streamlined HQ & Ops - Sell non-core assets, paydown debt - Re-ignite organic growth - Improving Macro ECOM 2.0: “Turnaround” Mode Grocery Golf
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L • Durable business (5-50 years) in grocery or golf • Cash flow generative in “Year 1” • Stable organic revenue growth • Recurring customer & supplier relationships • Target EBITDA of $750K-2M • Fair price. Flexible terms Capital Efficient Acquisitions Cash at Closing EMERGE Shares Deferred/ Earnout 11 EMERGE will apply a disciplined capital allocation strategy with a focus on long-standing, profitable, cash flow positive acquisitions that are synergistic with our grocery & golf verticals 50% 20% 30% Acquisition Target Criteria Illustrative Target Consideration Mix P R I V A T E & C O N F I D E N T I A L A C Q U I R E | I N T E G R A T E | A C C E L E R A T E
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L Acquisition Roadmap GROCERY D2C Pet Food D2C Competitors Corporate Gifting Logistics/ Vendors Food Tech/ SaaS Experience s Golf Media Equipment & Apparel Golf Tech/ SaaS GOLF The Face of Canadian Food Tech • 3-brand portfolio (~400K subscriber) across N. America • Track record of acquiring & accelerating golf brands profitably • $100M+ opportunity in Golf Leading North American Golf Portfolio 12 Offline/ Retail • Exceptional anchor business & brand to build around • Market leader with established platform— Growing & profitable • $100M+ opportunity in Canadian Grocery/ Food tech 2 x $100M+ opportunities across Grocery & Golf verticals Foundational platform in place to execute roll-up strategy Proven management team and playbook Multiple acquisition candidates with $750K-2M EBITDA each Buyer-friendly market
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L 13 Payment Processor Preferred “group rate” payment processor (Estimated ~$100K savings) Email Service Provider Warehouse / Logistics Customer Service Marketing & Analytics Migrated to a more cost-effective ESP (Estimated $75K savings) Shared facility for each vertical Centralized ticketing system and fraud prevention Consolidated in-house team and agency Streamlined HQ team (~$750K savings) Extracting synergies and accelerating growth across the streamlined portfolio, paving the way for a proven playbook primed for tuck-in acquisitions in 2025 and beyond HQ Team Cross-Selling Advertising & Data Margin Enhancement M&A Expertise Growth Free customer acquisition via adjacent portfolio brands in same vertical Leveraging combined reach/ segmented data to secure premium advertisers Unlocking add-on/ peripheral gross margin opportunities Offering our in-house expertise to drive tuck-in acquisitions Savings A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L Initiatives in Progress
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L 14 1. Share Price, market capitalization, and other figures are as of July 15, 2025 close 2. Total debt includes $5.85M senior credit facility and $1.39m convertible note 3. Cash balance at June 30, 2025 4. Treasury Method used for approx. RSUs, Options and Warrants Cap Table Share Price $0.08 Basic Shares Outstanding 149.4M Market Capitalization 12.0M RSUs, Options & Warrants 2.9M Convertible Debentures 10.3M Fully Diluted Shares 162.6M Total Debt $7.2M Cash ($3.5M) Enterprise Value $15.7M Ghassan Halazon Founder, CEO, and Director • 15 years of building, buying and selling some of Canada’s most coveted e-commerce brands • Canada’s Top 40 Under 40 Award (2020), a Caldwell Award • Former Investment Banker with Citi (New York) • Georgetown MBA (Class of 2008), McGill (Bachelor of Commerce) Dasha Enenko CFO, and Secretary • 10 years of accounting and finance experience, including at MNP with a focus on auditing public companies • Previous role at EMERGE as Accounting Manager • Chartered Professional Accountant (CPA) Maurice Finn, COO, Golf • Leads EMERGE’s Golf business • Grew JustGolfStuff by nearly 10x over the last 5 years • Originally joined EMERGE in 2018 as VP, Sales & Partnerships • Previously, Direct Business Manager at Ingram Micro Drew Green, Independent Director Chairman Ian McKinnon, Independent Director Compensation & Governance Committee Chair John Kim, Independent Director Audit Committee Chair Board of Directors Leadership Team
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L 1. Company goal, inclusive of potential future acquisitions, and not guarantee or necessarily indicative of future performance. Accelerate positive revenue growth trends, building on momentum Re-activate accretive M&A program with a focus on opportunistic, cash flow positive acquisitions on “Day 1” Continue to opportunistically explore avenues to enhance cash flow, reduce interest expense and drive shareholder value A C Q U I R E | I N T E G R A T E | A C C E L E R A T E 15P R I V A T E & C O N F I D E N T I A L
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L Investment Highlights Strong Operating Metrics. Accelerating, double-digit revenue growth, positive Adj. EBITDA and strongest cash position in years Tariff-Proof, Recession-Proof. “Buy Canadian” sentiment accelerating truLOCAL’s growth. Discounted golf verticals well positioned in a recession Market-Leading Brands with Loyal Community. truLOCAL is the Canadian market-leader in D2C meat & seafood subscription, and EMERGE Golf (~400K database) is one of the largest Canadian golf groups Significantly Improved Leverage Profile. Debt reduced by ~80% from peak. Near-term opportunity to refinance credit facility at a substantially lower interest rate given company’s improved profitability Veteran Team and Proven Playbook. Track record of accelerating organic growth, driving profitability, negotiating highly accretive acquisitions and driving immediate results Extensive Acquisition Pipeline. Multiple acquisition candidates with $750K-2M EBITDA each. Buyer-friendly market, flexible terms Major Opportunity. 2 x $100M+ niche vertical opportunities across Grocery & Golf 6 16P R I V A T E & C O N F I D E N T I A L A C Q U I R E | I N T E G R A T E | A C C E L E R A T E
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A C Q U I R E | I N T E G R A T E | A C C E L E R A T E P R I V A T E & C O N F I D E N T I A L Acquire. Integrate. Accelerate. Thank you. Ghassan Halazon Founder & CEO Ghassan@emerge-brands.com TSXV: ECOM 14 Investor Relations Investor@emerge-brands.com