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SunOpta TM FOR IMMEDIATE RELEASE SUNOPTA ANNOUNCES FIRST QUARTER FISCAL 2021 FINANCIAL RESULTS Record quarterly Plant - Based revenue of $ 119.5 million , a 12.4 % increase YOY Gross margin improved 130 basis points Earnings from continuing operations of $ 1.7 million vs. $ 4.0 million loss in PY Adjusted EBITDA increased 33.5 % to $ 18.3 million Minneapolis , Minnesota May 12 , 2021 SunOpta Inc. ( " SunOpta ” or the “ Company ” ) ( Nasdaq : STKL ) ( TSX : SOY ) , a leading healthy food and beverage company focused on plant - based foods and beverages and fruit- based foods and beverages , today announced financial results for the first quarter ended April 3 , 2021 . All amounts are expressed in U.S. dollars and results are reported in accordance with U.S. GAAP , except where specifically noted . First Quarter 2021 Highlights : • • • • • • Revenues of $ 207.6 million for the first quarter of 2021 were flat with the prior year as strong 12.4 % growth in plant - based was offset by planned SKU and customer rationalization in fruit - based . Plant - Based revenues have grown 47.0 % from Q1 2019 , while Fruit - Based revenues have declined 1.1 % , resulting in a 21.8 % increase in consolidated revenues from Q1 2019 Gross margin increased 130 basis points to 14.4 % from 13.1 % in the prior year . Earnings from continuing operations of $ 1.7 million compared to a loss from continuing operations of $ 4.0 million in the prior year Adjusted earnings¹ attributable to common shareholders was $ 1.3 million or $ 0.01 per diluted common share in the first quarter of 2021 , compared to an adjusted loss of $ 5.4 million or $ 0.06 per diluted common share in the first quarter of 2020 . Adjusted EBITDA¹ of $ 18.3 million , or 8.8 % of revenues for the first quarter of 2021 , versus $ 13.7 million or 6.6 % of revenues in the first quarter of 2020 . " We continued to execute well against our strategic plan in the first quarter , driving strong growth in plant - based revenue and productivity improvements in our fruit - based business leading to a significant increase in Adjusted EBITDA . We set a new quarterly record in plant - based with revenue of $ 119.5 million , reflecting growth of over 12 % on top of a 30 % increase a year earlier , illustrating the underlying strength of SunOpta's competitive position , ” said Joe Ennen , Chief Executive Officer . “ Gross margin in fruit - based improved 170 basis points , benefitting from a lower cost structure and rationalization of marginally profitable SKUs and customers and Adjusted EBITDA of $ 18.3 million was up 34 % versus last year . Following the first quarter , we completed the acquisition of two plant- based beverage brands , Dream and WestSoy , that are highly synergistic to current operations . In addition , we continue to be pleased with our new business development efforts . Tailwinds in plant - based , our focus on