Slides
Page 1
INVESTOR PRESENTATION FEBRUARY 2026 SupremeX (TSX: SXP.TO) 1
Page 2
Forward Looking Information • This presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws, including (but not limited to) statements about the EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings, Adjusted net earnings per share, Free cash flow, Net debt, Net debt to Adjusted EBITDA ratio, split of revenue between its Envelope and Packaging segments, capital expenditures, dividend payments, and future performance of Supremex and similar statements or information concerning anticipated future results, circumstances, performance or expectations. Forward-looking information may include words such as anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, seek, should, strive, target and will. Such information relates to future events or future performance and reflects current assumptions, expectations and estimates of management regarding growth, results of operations, performance, business prospects and opportunities, Canadian economic environment and ability to attract and retain customers. Such forward- looking information reflects current assumptions, expectations and estimates of management and is based on information currently available to Supremex as at the date of this presentation. Such assumptions, expectations and estimates are discussed throughout the MD&A for the year ended December 31, 2025. Supremex cautions that such assumptions may not materialize and that economic conditions such as heightened inflation and central banks’ large interest rate hikes, economic downturns or recessions, may render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. • Forward-looking information is subject to certain risks and uncertainties and should not be read as a guarantee of future performance or results and actual results may differ materially from the conclusion, forecast or projection stated in such forward-looking information. These risks and uncertainties include but are not limited to the following: decline in envelope consumption, growth and diversification strategy, key personnel, labour shortage, contributions to employee benefits plans, raw material price increases, cyber security and data protection, operational disruption, dependence on and loss of customer relationships, increase of competition, economic conditions and uncertainty, risk related to the international trade and tax environment (including tariffs, quotas and custom and other restrictions), exchange rate fluctuation, interest rate fluctuation, credit risks with respect to trade receivables, availability of capital, concerns about protection of the environment, potential risk of litigation and no guarantee to pay dividends. Such risks and uncertainties are discussed throughout this MD&A for the year ended December 31, 2025, particularly in “Risk Factors”. Consequently, the Company cannot guarantee that any forward-looking information will materialize. Readers should not place any undue reliance on such forward-looking information unless otherwise required by applicable securities legislation. The Company expressly disclaims any intention and assumes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. 2
Page 3
‘[p • INVESTMENT THESIS • SUPREMEX OVERVIEW • DETAILED SEGMENT OVERVIEW • Envelope • Packaging & Specialty Products • THE MARKET • Envelope • Packaging & Specialty Products • GROWTH STRATEGY • FINANCIAL TRACK RECORD • Q4 2025 RESULTS • APPENDIX • Q4 Supplemental Information • Reconciliation of Non-IFRS Measures • Acquisition Details Agenda
Page 4
• Building packaging platform in growing market niches • Leading Canadian envelope manufacturer and in the top 3 in North America • Strong customer relationships • Solid balance sheet and healthy cash flow generation • Experienced leadership team • Attractive valuation 4 Investment Thesis
Page 5
INVESTOR PRESENTATION February 2026 TSX: SXP.TO 5 SUPREMEX OVERVIEW
Page 6
REVENUE YEAR ENDED December 31, 2025 $275M PACKAGING: ~32% ENVELOPE: ~68% (1) Based on Management estimates Packaging #1 Independent folding carton provider in Quebec(1) SupremeX is a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions for large national and multinational customers, direct mailers, solutions providers and e-tailers. Envelope #1 in Canada Top 3 in North America(1) SupremeX at a Glance 6 13 Manufacturing facilities 2 Distribution centers ~900 Employees SXP.TO TSX ~3,000 Customers
Page 7
Growing By Acquisitions for Nearly 50 Years 7 1991 1994 Acquired 75% interest in Classic Envelope Plus 1996 PNG Globe Envelopes 2000 CML Industries Limited 1998 2001 2006 IPO 2007 2008 2010 2015 20202014 2016 2017 2018 20212011 Focused on envelope manufacturing in Canada Diversifying by geography & product Innova Envelope Envelope operations of Dominion Blueline Undertook management of Buffalo Envelope from Cenveo NPG Envelope Montreal Envelope and Metro Envelope Pioneer Envelopes Conversion from income trust to Corporation New strategic plan; Stewart Emerson named CEO Premier Envelope Classic Envelope Bowers Envelope Durabox Paper Inc. (closed Q4–22) Stuart Packaging Royal Envelope Ltd Vista Graphic Commu- nications G2 Printing Inc. & Pharmaflex Labels Inc. Envelope U.S. Packaging Corporate development Envelope Canada Niagara Envelope 2022 Royal Envelope Corporation • Founded in 1977 by four envelope industry executives • Acquired by private equity in 1990; sold to Cenveo in 1995 2023 Impression Paragraph Graf-Pak 2024 Forest Envelope 2025 Trans Graphique Enveloppe Laurentide Sale-leaseback of LaSalle and Etobicoke properties Elite Envelope
Page 8
2 Distribution centers Vast North American Network 8 Distribution centers Envelope facilities Packaging facilities 1,106,000 Square footage 13 Manufacturing facilities* Location Type 1 Richmond, BC Envelope Canada ● 2 Winnipeg, MB Envelope Canada ● 3 Etobicoke, ON Envelope Canada & Packaging ● 4 Mississauga, ON Envelope Canada ● 5 Moncton, NB Envelope Distribution Center ● 6 LaSalle, QC Envelope Canada & Packaging ● 7 Lachine, QC Packaging ● 8 Laval, QC Packaging ● 9 Laval, QC Packaging (Labels) ● 10 Ville St-Laurent, QC Packaging ● 11 Douglas, MA Envelope U.S. ● 12 Indianapolis, IN Packaging ● 13 Niagara Falls, NY Envelope Distribution Center ● 14 Chicago, IL Envelope U.S. ● 15 Naperville, IL Envelope U.S. ● * Facility count reflects the closure of the Indianapolis Envelope manufacturing facility announced on February 18, 2026, subsequent to December 31, 2025.
Page 9
Experienced Leadership Team 9 STEWART EMERSON President & CEO (Director of SXP) 35 years of industry experience Started at predecessor to Supremex in 1990. Previously VP and GM Central Region and Buffalo Envelope. Responsible for leading many successful M&A integrations. Holds a Bachelor’s Degree in Business Administration with a double major in Marketing and Management from Northeastern University of Boston. NORMAND MACAULAY Chief Financial Officer Over 20 years of leadership experience in finance and operations Joined Supremex in 2025. Was previously CFO of Nitrex, a leading global provider of fully integrated heat treatment solutions and technologies. Holds the CPA designation and earned a Bachelor of Commerce and a Graduate Diploma in Accountancy from Concordia University. JOE BAGLIONE President, Envelope 30 years of industry experience Joined Supremex over 25 years ago. Sales and management experience within the Canadian and U.S. operations. Previously VP & GM, Eastern Canada Envelope & Label. MURRAY RUNDLE VP Marketing & Innovation 30+ years of industry experience Joined Supremex over 30 years ago. Sales and sales management experience on the Envelope side and more recently in e-commerce.
Page 10
Recent Financial Performance 10 Revenue (M$) Adjusted EBITDA (M$)(1) Net Earnings (M$) 226 272 302 281 275 2021 2022 2023 2024 2025 33 57 49 40 30 2021 2022 2023 2024 2025 16 28 17 (12) 12 2021 2022 2023 2024* 2025 (1) This is a non-IFRS financial measure. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Refer to the Non-IFRS Financial Measures section at the end of this presentation for further details. • Includes $23.4 million in asset impairment charges, mostly in Q3-24.
Page 11
Historical Price Chart (as of February 6, 2026) 11 $0 $2 $4 $6 $8 0 400 800 1,200 1,600 Feb-21 Aug-21 Feb-22 Aug-22 Feb-23 Aug-23 Feb-24 Aug-24 Feb-25 Aug-25 Feb-26 Volume TSX Price $3.75 Source: TMX Money Shares outstanding 24.4M Float 15.1M Average daily volume (52 weeks on TSX) 21,749 52 week (high-low) $4.64-$3.50 Market capitalization $91.5M (in ‘000s of shares)
Page 12
INVESTOR PRESENTATION February 2026 TSX: SXP.TO 12 DETAILED SEGMENT OVERVIEW
Page 13
The Envelope Segment - Overview 13 • Optimal geographical network • Leading player in Canada with market share of approx. 85%(1) • Top 3 in size in North America(1) • Broad product offering • Strong customer base • Strong EBITDA & cash flow generation • Utilize Canadian expertise and know-how to support the growth in the U.S. 2025 Revenue 2021-2025 Revenue Key Points 157 200 214 199 186 2021 2022 2023 2024 2025 Envelope Packaging $186.3M 68% The Company utilizes an industry leading equipment base and platform to manufacture a broad range of stock and custom envelopes. “Everything in the letter carrier’s bag.” (1) Based on Management estimates
Page 14
Stock Envelopes Custom Envelopes Complementary Services Product Description A generic product that can be used by customers for a variety of applications. Stock envelopes range from the smallest greeting card or coin envelope to jumbo mailers and are made of various colors and grades of paper. Custom envelopes are manufactured according to customer specifications, which may require the collection of over 100 different pieces of information. Examples of custom features include size, color, print, paper quality and window characteristics. • Graphic arts services (basic design and creative activities through to final customer-approved proofs for envelope printing). • Comprehensive vendor managed inventory supported by a fully integrated ERP for timely, robust reporting and business intelligence. • Warehousing and distribution of products are provided to customers seeking to minimize the total cost of buying envelopes, while ensuring availability of supply and timely delivery to support a turnkey one-stop shop and allow for manufacture in economical order quantities. • Vast Canada Post and USPS specifications experience to assist customers with compliance. • Integrated storefront and Just In Time (JIT) small run ink jet printing. Distribution • Fine paper merchants • Independent envelope printers • Commercial & office stationery suppliers • Solution providers (forms manufacturers, large printers, and commercial and office stationery suppliers) • Process providers (statement preparation providers) • Markets directly to corporate end-users of custom envelopes • Direct mail Value proposition • Broad stock envelope offering • Next-day product delivery • National distribution network • Broad custom envelope offering • Flexible and highly customized manufacturing capabilities • National distribution network The Envelope Segment – Broad Products Offering 14
Page 15
The Envelope Segment – Strong Customer Base Supplier to essential businesses and services 15 National footprint & local distribution: • Local market intimacy • 800 km cost effective delivery • Responsiveness Diversification of customer base: • Large and leading corporations • National resellers • Direct mailers • Wholesalers, solutions providers and others Standardized stock offering in both Canada & the U.S. to support national resellers Extensive Business Continuity Plan Regional Envelope Revenue Distribution(1) SupremeX Edge • The industry does not typically enter into long-term agreements. Informal agreements are the norm. Contracts (1) For the year ended December 31, 2025 48% 30% 11% 11% U.S. Central Eastern Western
Page 16
Envelope Packaging The Packaging Segment - Overview The Company manufactures and distributes a diverse range of packaging and specialty products including high-end folding carton packaging, e-Commerce fulfillment packaging solutions and labels. 16 • #1 independent folding carton provider in Quebec(1) • Diversified customer base • Focused on growth & acquisitions • British Retail Council (BRC) & FSC certified • Pharma industry approved • Robust supply chain 2025 Revenue Key Points $88.5M 32% 69 72 89 82 89 2021 2022 2023 2024 2025 2021-2025 Revenue (1) Based on Management estimates
Page 17
The Packaging Segment – Diversified Offering 17 Folding Carton E-commerce Specialty Products Product Description • Made of paperboard that is printed, laminated, cut, then folded and glued • High degree of customization • Innovative products to optimize shipping and reduce over packaging • Conformer Products®(1) • Pressure sensitive labels, booklets & other inserts • Polyethylene bags for courier applications • Bubble mailers • Enviro-logiX®(2) • Medical/dental • Record sleeves • Photo Distribution • Sold directly to the end-user customer or their third-party manufacturers through long term supply agreements. • Subscription based e-tailers • Large CPGs • Packaging distributors • Direct to brand • Specialty products are specially sold across the organization to envelope and packaging customers. Target Market • Pharmaceutical • Nutraceutical • Cosmetics & fragrances • Brand and environment conscious e-tailers • “Unboxing Experience” • Wide offering (1) Conformer® is a registered trademark of Conformer Products, Inc. (2) Enviro-logiX® is a registered trademark of Envirologix Inc.
Page 18
The Packaging Segment– Diversified Customer Base Supplier to varied consumer staples and discretionary consumer end-markets. 18 Proximity to customer base: • Multinational customers sourcing locally • 1,000 km cost effective delivery Premium customer base: • Multinational corporations (health & beauty, nutraceutical & pharmaceutical primarily in Quebec and in the NE U.S.) • Third party manufacturers • Food distributors, located in Quebec, Ontario and NE U.S. • E-tailors and retailers entering the e-space Other: • Innovation & structural design • Vast knowledge of USPS couriers to optimize freight • Intellectual property • Vertically integrated End-market Approximate Packaging Revenue Distribution(1) SupremeX Edge • Agreements vary according to the type of packaging and customer • Typically, long term RFP-based agreements are entered into with certain larger food distributors • Supply agreements are entered into with multinational folding carton customers (Pharma / Health & Beauty) • Individual orders, implied contracts and vendor of record are more typical for e-retailers Contracts 45% 14% 14% 8% 15% 2% 2% E.COM & Specialty Products Pharma Cosmetic Consumer Packaged Goods Food Government Marketing (1) For the year ended December 31, 2025.
Page 19
INVESTOR PRESENTATION February 2026 TSX: SXP.TO 19 THE MARKET
Page 20
The North American Envelope Market is in Secular Decline 20 (1) According to Management estimates (2) According to the Envelope Manufacturers Association (EMA) Canadian Envelope Market U.S. Envelope Market Market Size –Sales $125M(1) US$2.0B(2) Competitive Landscape • SupremeX is a leading player in the market • Comprised of both domestic and foreign manufacturers • Approximately 5 domestic players • Foreign players are almost exclusively U.S.-based • Fragmented • Supremex has close to 10% of the addressable market(1) • Significant volume in the Northeast and Midwest • Can reach 70% of the U.S. market with existing footprint(1) Primary Competitor • Enveloppe Concept • Cenveo • Tension Envelope • IWCO Direct Market Trends • Bill consolidation • Internet-based electronic bill • Demand for direct and marketing mail is more closely related to the state of the economy, primarily in the U.S The U.S. market is declining at a slower pace than Canada Through internal growth and acquisitions, Supremex is now one of the three largest manufacturers in North America
Page 21
Transaction Mail Volume Trends in North America 21 2,540 2,478 2,313 2,196 2,009 2,028 2020 2021 2022 2023 2024 2025 (in millions of pieces) Transaction mail volume in Canada has declined since 2020 5-YR CAGR: (4.6%) Sources: Canada Post Corporation 2020-2024 Annual Reports; 2025 Third Quarter Financial Report. Fiscal years ended December 31. 52,628 50,664 48,960 45,982 44,312 43,169 2020 2021 2022 2023 2024 2025 (in millions of pieces) 5-YR CAGR: (3.9%) First-class mail volume in the U.S. has also decreased at a similar rate Sources: USPS, Annual Report to Congress 2020-2025; news release dated February 5, 2026. Fiscal years ended September 30.
Page 22
Marketing Mail Volume Trends in North America 22 3,323 3,918 3,985 4,002 4,104 3,664 0 1,000 2,000 3,000 4,000 5,000 2020 2021 2022 2023 2024 2025 (in millions of pieces) Marketing mail volume in Canada has been relatively stable in recent years 5-YR CAGR: 2.1% Sources: Canada Post Corporation 2020-2024 Annual Reports; 2025 Third Quarter Financial Report. Fiscal years ended December 31. 64,004 66,198 67,092 59,424 57,506 58,178 0 20,000 40,000 60,000 80,000 2020 2021 2022 2023 2024 2025 (in millions of pieces) 5-YR CAGR: (1.9%) U.S. marketing mail volume historically more stable, but affected by economic uncertainty in recent years Sources: USPS, Annual Report to Congress 2020-2025; news release dated February 5, 2026. Fiscal years ended September 30.
Page 23
The Packaging Market is Growing 23 Paper Packaging Folding Carton Boxes Market Size Largest subsector with an estimated 2025 share of 35.4%(1) of the global consumer packaging market. Global folding carton packaging market valued at US155 billion in 2024(2) Competitive Landscape • Comprised of vertically integrated and non-integrated national and regional paper and packaging companies. • Two thirds are large vertically integrated producers that supply and convert paperboard and containerboard; remaining third are smaller non-integrated suppliers. Key Players The Ellis Group (CAN); Ingersoll Paper Box (CAN); Beneco Packaging (CAN) Global Market Statistics Global paper packaging market is expected to grow at a CAGR of 4.7% between 2022 and 2030(1) driven by growing demand for sustainable packaging solutions. Increasing preference for biodegradable packaging over plastic packaging is expected to drive demand for folding cartons. Market volume is expected to grow at a 4.4% CAGR between 2025 and 2030 to 54.11 million tons(1) Recent Statistics for Canada and the U.S. The Paperboard Packaging Council(3) predicts that after declining in 2023-24 due to economic uncertainty, U.S. folding carton tonnage will grow on average by 1.8% per annum until 2028. Market Trends • The COVID-19 pandemic accelerated the adoption of e-commerce and at-home deliveries. • Sustainability expected to support the growth of paper-based packaging as an eco-friendly alternative to single-use plastic packaging by the food industry. • Surging e-commerce demand has led to an increase in demand for light weight packaging, and a 9.0% increase in demand for corrugate shipping boxes(4) . • According to a report by the EMA, 75% of e-commerce shipments weighed below 2 kilograms, a new trend in the packaging industry(5). The Packaging business requires many of the same core competencies as the Envelope business Growing e-commerce activity and sustainability trends support the expansion of paper packaging 3) Paperboard Packaging Council, 2024-25 Trends Industry Outlook and Market Data 4) COVID Trickle-Down Tied to Potential Corrugated Shortage, Packaging World, January 21, 2021 5) Envelope Manufacturers Association, A Vision of Our Future, The Globe Envelope Report 2020 1) Mordor Intelligence, Packaging Market Size & Share Analysis – Growth Trends & Forecasts (2025-2030). 2) Mordor Intelligence, Folding Carton Packaging Market – Growth, Trends, COVID-19 Impact and Forecasts (2024-2029)
Page 24
Package and Parcel Volume Trends in North America 24 389 361 286 296 240 170 2020 2021 2022 2023 2024 2025 (in millions of pieces) Canada Post parcel volume declining significantly in favour of private carriers due to lacking reliability 5-YR CAGR: (16.0%) Sources: Canada Post Corporation 2020-2024 Annual Reports; 2025 Third Quarter Financial Report. Fiscal years ended December 31. 7,325 7,585 7,232 7,057 7,252 7,008 2020 2021 2022 2023 2024 2025 5-YR CAGR: (0.9%) Sources: USPS, Annual Report to Congress 2020-2025; news release dated February 5, 2026. Fiscal years ended September 30. (in million of pieces) Following the COVID-related spike, U.S. Package & Parcel volume has remained relatively stable
Page 25
INVESTOR PRESENTATION February 2026 TSX: SXP.TO 25 GROWTH STRATEGY
Page 26
Executing on a Three-Pronged Growth Strategy 26 Maintaining its leading position in the Canadian envelope market by leveraging its national footprint through capacity allocation and consolidation opportunities. 1 2 3 Pursuing growth opportunities in the U.S. envelope market both organically and through acquisitions, focusing on a large and attractive market in the Northeastern and Midwestern U.S. Building Supremex’ packaging capabilities organically and through acquisitions, with the objective of significantly growing its revenues from this attractive growth market, specifically in the value-added folding carton and e-commerce markets. Leverage our Envelope capacity, knowhow and cash flow to fund the pivot to packaging
Page 27
Maintaining Market-Leading Position in Canada and Diversifying in the U.S. 27 1. Maintain Leading Position in Canada • Have a disciplined approach to pricing • Leverage national footprint • Drive efficiencies and synergies • Optimize capacity allocation with U.S. volume opportunities Manage the secular decline in the Envelope segment by maintaining EBITDA and strong cash flow generation 2. Diversify into the U.S. Market • Take advantage of a large and fragmented market estimated at U.S.$2.0B o Market share of close to 10%(1) o Can reach 70% of the U.S. envelope market with current footprint(1) • Drive sales and marketing efforts in the U.S. to offset decline in Canada • Utilize expertise and know-how of Canadian plants • 2022 acquisition of Royal Envelope provides geographic and addressable market expansion (1) Based on Management estimates
Page 28
Diversifying into Paper-Based Packaging in Canada & the U.S. 28 Accelerate diversification into high-value growth markets and execute pivot to Packaging 3. Diversify into Paper-Based Packaging MAKE ACQUISITIONS TO DEVELOP SCALE • Build capacity closer to the U.S. e-commerce customers GENERATE ORGANIC GROWTH • Generate synergies • Expand customer share of wallet • Cross sell labels to packaging and envelope customers • Leverage footprint • Integrate new label business with legacy labels Focus on 3 Pillars of Growth FOLDING CARTON • Focus on the high-value end markets of health & beauty and pharma industries • Expand presence in the growing at-home food consumption market • 2023 acquisition of Impression Paragraph Inc. provides critical mass in Quebec E-COMMERCE • Focus on supplying retailers and e-tailers with innovative products to optimize shipping and reduce over-packaging LABELS • Focus on health & beauty and pharma industries
Page 29
INVESTOR PRESENTATION February 2026 TSX: SXP.TO 29 FINANCIAL TRACK RECORD
Page 30
Growing Revenues 30 147 157 200 214 199 186 58 69 72 89 82 89 2020 2021 2022 2023 2024 2025 Envelope Packaging 205 226 272 (in millions of $) Successfully managing secular decline of Envelope Segment and diversification into Packaging Segment CAGR: 4.9% CAGR: 8.8% 302 281 275 Note: Totals may not add up due to rounding.
Page 31
39.0 56.8 49.1 40.3 30.0 15.8 28.4 17.3 -11.7 12.0 17.2% 20.9% 16.3% 14.4% 10.9% 7.0% 10.4% 5.7% (4.2%) 4.4% 2021 2022 2023 2024* 2025 Adjusted EBITDA Net Earnings Adjusted EBITDA margin Net Earnings margin (1) (1) Adjusted EBITDA and Margin Focusing on operational leverage and extracting cost efficiencies 31 (1) This is a non-IFRS financial measure or ratio. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Refer to the Non-IFRS Financial Measures section at the end of this presentation for further details. (in millions of $) * Includes $23.4 million in asset impairment charges, mostly in Q3-24.
Page 32
Generating Solid Cash Flows 32 Efficient working capital management and disciplined capital investment produces significant cash flows Proceeds of $53.0 million from sale-leaseback transaction in Q3-2025 30.0 26.9 43.9 32.1 20.7 26.1 24.4 40.0 31.7 73.2 2021 2022 2023 2024 2025 Net cash flows related to operating activities Free Cash Flow (1) (in millions of $) (1) This is a non-IFRS financial measure. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Refer to the Non-IFRS Financial Measures section at the end of this presentation for further details.
Page 33
Optimizing Capital Allocation Returning short term value to shareholders while investing in future growth 33 9.4 36.4 40.2 11.5 28.4* 2021 2022 2023 2024 2025 Capex Acquisitions Dividends Share repurchases (1) (2) (2) Growth investments $86.0M 2021 – 2025 Return to shareholders $39.9M 2021 – 2025 (in millions of $) (1) CAPEX is acquisitions (net of disposals) of PPE. * Excludes proceeds of $53.0 million from sale-leaseback transaction in Q3-2025. (2) Net CAPEX was $0.3M and $0.5M, respectively, for the years ended December 31, 2024, and 2025.
Page 34
Dividend Payments Quarterly dividend reinstated in Q1-22; increased four times since then Current regular payment is $0.05 per share ($0.20 annually) Total payout, including special dividend, represented 23.5% of free cash flow in 2025 34 $0.135 $0.14 $0.17 $0.20 $0.20 2.3% 3.2% 4.5% 5.5% 5.3% 2022** 2023 2024 2025 2026E* Regular dividend Special dividend Dividend Yield $0.50 Dividend yield based on December 31 stock price. 2026E dividend yield based on annualized latest regular dividend declared and most recent stock price as shown on slide 11. * Projected based on annualized latest dividend declared. ** Dividend reinstated Q1-2022 (5 payments in 2022)
Page 35
Strong Balance Sheet With Low Leverage Position 35 (in millions of $) Provides flexibility to carry out business strategy Targeting a leverage ratio below 2.0x 38.0 52.5 55.4 41.2 1.0 39.0 56.8 49.1 40.3 30.0 0.97x 0.92x 1.13x 1.02x 0.03x 0.00x 0.20x 0.40x 0.60x 0.80x 1.00x 1.20x 1.40x 1.60x 1.80x 2.00x 2021 2022 2023 2024 2025 Axis Title Net Debt Adjusted EBITDA Total net Debt to Adjusted EBITDA (1) Net Debt to Adj. EBITDA Ratio (1) (1) This is a non-IFRS financial measure or ratio. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Please refer to the Non-IFRS Financial Measures section at the end of this presentation for further details. 38.0 52.5 55.4 41.2 1.0 0.2 0.3 0.3 0.2 0.1 6.4 1.9 1.1 1.8 3.1 44.6 54.7 56.8 43.1 4.1 2021 2022 2023 2024 2025 Total Debt Net Debt Deferred Financing Costs Cash Total Debt reduction through a strong cash flow generation 2025 reduction includes proceeds from sale-leaseback transaction (in millions of $, except ratios)
Page 36
INVESTOR PRESENTATION February 2026 TSX: SXP.TO 36 Q4-2025 RESULTS
Page 37
37 Q4-2025 Highlights & Recent Events • Revenue of $72.9M, up 5.6% from $69.1M last year. • Adjusted EBITDA(1) of $9.1M (12.5% of revenue), vs. $12.9M (18.7% of revenue) last year. • Net earnings of $1.3M ($0.05 per share), vs. $5.8M ($0.23 per share) last year. • Adjusted net earnings(1) of $1.5M ($0.06 per share), vs. $5.2M ($0.20 per share) last year. • Envelope revenue of $48.9M, vs. $48.8M last year. Adjusted EBITDA margin(1) of 15.9%, vs. 18.8% last year. • Packaging revenue of $24.0M, vs. $20.3M last year. Adjusted EBITDA margin(1) of 13.2%, vs. 11.6% last year. • On December 8, acquisition of Elite Envelope & Graphics Inc., an envelope manufacturer located in Randolph, Massachusetts. • On February 18, 2026, the Company obtained lender approval to extend the maturity of the secured revolving credit facility to July 2028. (1) This is a non-IFRS financial measure or ratio. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Please refer to the Non-IFRS Financial Measures section at the end of this presentation for further details.
Page 38
48.8 48.9 20.3 24.0 Q4-24 Q4-25 Envelope Packaging $72.9 Revenue Overview 38 $69.1 (M$, except %) Envelope Packaging TOTAL Q4-24 Revenue 48.8 20.3 $69.1 Volume 5.3% - - Average selling price (4.8%) - - Q4-25 Revenue 48.9 24.0 $72.9 Variation 0.3% 18.3% 5.6% Envelope: (+) Higher volume from acquisitions of Enveloppe Laurentide and Elite Envelope (+) New customer wins and share of wallet growth in the US (-) Lower average selling price due to a significant reduction in sales to a large US customer Packaging: (+) Higher folding carton revenue: • Important gains with large multi-national consumer packaged goods customers • New business from existing customers • Acquisition of Trans Graphique (+) Further expansion in e-commerce packaging Revenue (M$) Y/Y Variance Analysis Highlights Note: Totals may not add up due to rounding.
Page 39
9.2 7.8 2.4 3.2 1.4 -1.9 18.7% 12.5% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% -5.0 0.0 5.0 10.0 15.0 Q4-24 Q4-25 Envelope Packaging Corporate Margin $12.9 Adjusted EBITDA(1) and Net Earnings 39 $9.1 Net earnings (M$) & marginAdjusted EBITDA (M$)(1) & margin (%)(1) (1) This is a non-IFRS financial measure or ratio. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Refer to the Non-IFRS Financial Measures section at the end of this presentation for further details. $5.8 $1.3 8.4% 1.8% $0.0 $2.0 $4.0 $6.0 $8.0 Q4-24 Q4-25 Note: Totals may not add up due to rounding. Envelope: (-) Lower selling prices due to lower volume with a large US customer (-) Impact of Canada Post labour issues Packaging: (+) Effect of higher volume (-) Challenges in commercial print related to Canada Post labour issues Corporate: (-) FX loss of $1.3M in Q4-25 as opposed to a $0.8M gain in Q4-24 (-) Unfavourable adjustment related to the Deferred Share Units and Performance Share Units Highlights
Page 40
Net Earnings and Adjusted Net Earnings(1) 40 2025: - Asset impairment charge - Acquisition costs 2024: - Recovery of restructuring expenses - Acquisition costs Net earnings (Loss) (M$) & EPS Adjusted net earnings(1) (M$) & per share(1) Q4 Elements (1) This is a non-IFRS financial measure. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Refer to the Non-IFRS Financial Measures section at the end of this presentation for further details. $5.2 $1.5 $0.0 $2.0 $4.0 $6.0 $8.0 Q4-24 Q4-25 $0.20 $5.8 $1.3 $0.0 $5.0 Q4-24 Q4-25 $0.23 $0.05 $0.06
Page 41
Cash Flow from Operating Activities and Free Cash Flow (1) 41 Cash flow from operating activities: (+) Working capital release in Q4- 2025, as opposed to requirements in Q4-2024 Free cash flow: (+) Higher operating cash flow Net cash flow related to operating activities (M$) Free cash flow(1) (M$) Highlights $9.2 $14.1 $0.0 $3.0 $6.0 $9.0 $12.0 $15.0 Q4-24 Q4-25 $8.7 $13.4 $- $5.0 $10.0 $15.0 Q4-24 Q4-25 (1) This is a non-IFRS financial measure. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Refer to the Non-IFRS Financial Measures section at the end of this presentation for further details.
Page 42
Solid Financial Position 42 • Significant debt reduction in Q3-2025 following sale- leaseback transaction • Business acquisitions totalling $10.1 million in 2025 • Ample liquidity available • Ratio well below target level of 2.0x Total Debt (M$) Net Debt to Adj. EBITDA Ratio (1) Highlights 41.2 35.4 38.4 8.9 1.00.16 0.13 0.12 0.16 0.061.8 2.4 2.1 2.6 3.1 43.1 38.0 40.6 11.7 4.1 0.0 10.0 20.0 30.0 40.0 50.0 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q4-2025 Net Debt Deferred Financing Costs Cash Total (in millions of $) (1) This is a non-IFRS financial measure or ratio. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Refer to the Non-IFRS Financial Measures section at the end of this presentation for further details. (in millions of $, except ratios) (1) 41.2 35.4 38.4 8.9 1.0 40.3 38.7 35.5 33.8 30.0 1.02x 0.92x 1.08x 0.26x 0.03x 0.00x 0.20x 0.40x 0.60x 0.80x 1.00x 1.20x 1.40x 1.60x 1.80x 2.00x Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q4-2025 Net Debt Adjusted EBITDA Total net Debt to Adjusted EBITDA Sale-leaseback
Page 43
43 Outlook Positive factors • Stronger financial position following the completion of sale-leaseback transaction in July 2025 • Strong team, broad product offering, geographical diversification, solid supplier relationships Short-term concerns • Current economic volatility, ongoing trade uncertainty, postage increases and reduced services at the U.S. Postal Service, as well as residual effects of labor issues at Canada Post Priorities • Focus on improving efficiency and asset utilization throughout the Company’s manufacturing network • Further increase the Company’s reach in the vast U.S. envelope market • Continue the search for strategic acquisitions, mainly in Packaging & Specialty Products Strategy remains intact
Page 44
INVESTOR PRESENTATION February 2026 TSX: SXP.TO 44 APPENDIX
Page 45
Q4 Supplemental Information - Summary 45 Selected Consolidated Financial Information (In thousands of dollars, except for margins) Three-month periods ended December 31 Twelve-month periods ended December 31 2025 2024 2025 2024 Revenue 72,917 69,075 274,780 281,035 Operating expenses 54,175 48,496 203,409 201,588 Selling, general and administrative expenses 9,725 7,663 41,762 39,158 Operating earnings before depreciation, amortization and other items(1) 9,017 12,916 29,609 40,289 Net earnings (loss)(2) 1,284 5,819 12,022 (11,743) Net earnings (loss) margin (%) 1.8% 8.4% 4.4% (4.2%) Adjusted EBITDA(3) 9,089 12,919 29,952 40,333 Adjusted EBITDA margin(3) (%) 12.5% 18.7% 10.9% 14.4% Net cash flows related to operating activities 14,088 9,201 20,749 32,087 Free cash flow (3) 13,409 8,676 73,200 31,698 (1) Other items include restructuring (recovery) expenses, gain (loss) on disposal of property, plant and equipment, gain on sale-leaseback transaction, asset impairment, net financing charges and income tax expense. (2) Includes asset impairment of $23.4 million in 2024. (3) This is a non-IFRS financial measure or ratio. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Refer to the Non-IFRS Financial Measures section at the end of this presentation for further details.
Page 46
Q4 Supplemental Information - Segmentation 46 Segmented Information (in thousands of dollars, except %) Three-month periods ended December 31 Twelve-month periods ended December 31 2025 2024 2025 2024 Segmented Revenue Envelope 48,935 48,797 186,260 199,164 Packaging & specialty products 23,982 20,278 88,520 81,871 Total revenue 72,917 69,075 274,780 281,035 Segmented Adjusted EBITDA(1) Envelope 7,784 9,170 27,630 36,013 % of segmented revenue 15.9% 18.8% 14.8% 18.1% Packaging & specialty products 3,157 2,358 11,457 8,774 % of segmented revenue 13.2% 11.6% 12.9% 10.7% Corporate and unallocated recovery (costs) (1,852) 1,391 (9,135) (4,454) Total Adjusted EBITDA(1) 9,089 12,919 29,952 40,333 Total Adjusted EBITDA margin %(1) 12.5% 18.7% 10.9% 14.4% Net earnings (loss)(2) 1,284 5,819 12,022 (11,743) Net earnings (loss) margin (%) 1.8% 8.4% 4.4% (4.2%) (1) This is a non-IFRS financial measure or ratio. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Refer to the Non-IFRS Financial Measures section at the end of this presentation for further details. (2) Includes asset impairment of $23.4 million in 2024.
Page 47
Non-IFRS Financial Measures 47 Non-IFRS Measure Definition EBITDA EBITDA represents earnings before net financing charges, income tax expense, depreciation of property, plant and equipment and right-of-use assets and amortization of intangible assets. The Company uses EBITDA to assess its performance. Management believes this non-IFRS measure, provides users with an enhanced understanding of its operating earnings. Adjusted EBITDA Adjusted EBITDA represents EBITDA adjusted to remove items of significance that are not in the normal course of operations and/or that do not reflect the Company’s operating expenses and are not indicative of the Company’s core operating performance. These items of significance include, when applicable, but are not limited to, charges for impairment of assets, restructuring expenses, value adjustment on inventory acquired, business acquisition costs and gain on sale and leaseback. The Company uses Adjusted EBITDA to assess its operating performance, excluding items that are not in the normal course of operations and/or that do not reflect the Company’s operating expenses and are not indicative of the Company’s core operating performance. Management believes this non-IFRS measure provides users with enhanced understanding of the Company’s operating earnings and increases the transparency and clarity of the Company’s core results. It also allows users to better evaluate the Company’s operating profitability when compared to previous years. Adjusted EBITDA margin Adjusted EBITDA margin is a percentage corresponding to the ratio of Adjusted EBITDA divided by revenue. The Company uses Adjusted EBITDA margin for the purpose of evaluating business performance, excluding items that are not in the normal course of operations and/or that do not reflect the Company’s operating expenses and are not indicative of the Company’s core operating performance. Management believes this non-IFRS measure, provides users with enhanced understanding of its results and related trends. Adjusted net earnings Adjusted net earnings represent net earnings excluding items of significance listed above under Adjusted EBITDA, net of income taxes. The Company uses Adjusted net earnings to assess its business performance and profitability without the effect of items that are not in the normal course of operations, and/or that do not reflect the Company’s operating expenses and are not indicative of the Company’s core operating performance, net of income taxes. Management believes this non-IFRS measure provides users with an alternative assessment of the Company’s earnings without the effect of items that are not it the normal course of operations or reflective of operating performance, making it valuable to assess ongoing operations and trends in the business performance. Management also believes this non-IFRS measure provides users with enhanced understanding of the Company’s results and provides better comparability between periods. Adjusted net earnings per share Adjusted net earnings per share represents Adjusted net earnings divided by the weighted average number of common shares outstanding for the relevant period. The Company uses Adjusted net earnings per share for the purpose of evaluating performance and profitability, excluding items that are not in the normal course of operations of the Company, net of income taxes, on a per share basis. Free cash flow This measure corresponds to net cash flows related to operating activities according to the consolidated statements of cash flows, less additions (net of disposals) to property, plant and equipment and intangible assets. Management considers Free cash flow to be a good indicator of the Company’s financial strength and operating performance because it shows the amount of funds available to manage growth, repay debt and reinvest in the Company. Management considers this measure useful to provide investors with a perspective on its ability to generate liquidity, after making capital investments required to support business operations and long-term value creation. Net debt Net debt represents the Company’s total debt, net of deferred financing costs and cash. The Company uses Net debt as an indicator of its indebtedness level and financial leverage as it represents the amount of debt that is not covered by available cash. Management believes that investors could benefit from the use of net debt to determine a company’s financial leverage. Net debt to Adjusted EBITDA ratio Net debt to Adjusted EBITDA ratio represents Net debt divided by trailing 12-month (TTM) Adjusted EBITDA. This ratio is used by management to monitor the Company’s financial leverage and management believes certain investors use this ratio as a measure of financial leverage.
Page 48
Reconciliation of Non-IFRS Financial Measures 48 Reconciliation of Net earnings (Loss) to Adjusted EBITDA (In thousands of dollars, except for margins) Three-month periods ended December 31 Twelve-month periods ended December 31 2025 2024 2025 2024 Net earnings (loss) 1,284 5,819 12,022 (11,743) Income tax expense (recovery) 1,625 1,814 (657) 2,797 Net financing charges 1,279 1,178 4,737 4,856 Depreciation of property, plant and equipment 1,083 1,626 5,629 6,744 Depreciation of right-of-use assets 1,602 1,588 6,172 5,995 Amortization of intangible assets 1,886 1,715 6,903 6,917 EBITDA 8,759 13,740 34,806 15,566 Retroactive COVID-related subsidies — — (71) — Acquisition costs related to business combinations 72 7 207 112 Asset impairment 258 — 821 23,412 Restructuring (recovery) expenses — (828) 289 1,297 Value adjustment on acquired inventory through a business combination — — — (54) (Gain) on sale and leaseback — — (6,100) — Adjusted EBITDA 9,089 12,919 29,952 40,333 Adjusted EBITDA margin (%) 12.5% 18.7% 10.9% 14.4%
Page 49
Reconciliation of Non-IFRS Financial Measures 49 Reconciliation of Net earnings (loss) to Adjusted net earnings and of Net earnings (loss) per share to Adjusted net earnings per share (In thousands of dollars, except for per share amounts) Three-month periods ended December 31 Twelve-month periods ended December 31 2025 2024 2025 2024 Net earnings (loss) 1,284 5,819 12,022 (11,743) Adjustments, net of income taxes Retroactive COVID-related subsidies — — (53) — Acquisition costs related to business combinations 53 5 152 83 Asset impairment 191 — 608 22,615 Restructuring (recovery) expenses — (613) 214 959 Value adjustment on acquired inventory through a business combination — — — (40) (Gain) on sale and leaseback — — (4,514) — Adjusted net earnings 1,528 5,211 8,429 11,874 Net earnings (loss) per share 0.05 0.23 0.49 (0.47) Adjustments, net of income taxes, per share 0.01 (0.03) (0.15) 0.95 Adjusted net earnings per share 0.06 0.20 0.34 0.48
Page 50
50 Reconciliation of Net earnings (loss) to Adjusted EBITDA (In thousands of dollars, except for margins) 2025 2024 2023 2022 2021 Revenue 274,780 281,035 302,187 272,467 226,430 Net earnings (loss) 12,022 (11,743) 17,334 28,436 15,752 Income tax (recovery) expenses (657) 2,797 6,002 9,657 5,301 Net financing charges 4,737 4,856 5,606 2,571 2,226 Depreciation of property, plant and equipment 5,629 6,744 6,712 5,799 5,314 Depreciation of right-of-use assets 6,172 5,995 5,462 4,529 4,830 Amortization of intangible assets 6,903 6,917 6,663 3,762 3,381 EBITDA 34,806 15,566 47,779 54,754 36,804 EBITDA (%) 12.7% 5.5% 15.8% 20.2% 16.3% Retroactive COVID-related subsidies (71) — (1,456) — — Acquisition costs related to business combinations 207 112 446 550 164 Asset impairment 821 23,412 — — 2,074 Restructuring expenses 289 1,297 2,272 1,410 — Value adj. on acquired inventory through a business combination — (54) 78 127 — (Gain) on sale and leaseback (6,100) — — — — Adjusted EBITDA 29,952 40,333 49,119 56,841 39,042 Adjusted EBITDA margin (%) 10.9% 14.4% 16.3% 20.9% 17.2% Reconciliation of Non-IFRS Financial Measures
Page 51
51 Reconciliation of Net earnings (loss) to Adjusted net earnings and of Net earnings (loss) per share to Adjusted net earnings per share (In thousands of dollars, except for per share amounts) 2025 2024 2023 2022 2021 Net earnings (loss) 12,022 (11,743) 17,334 28,436 15,752 Adjustments, net of income taxes Retroactive COVID-related subsidies (53) — (1,068) — — Acquisition costs related to business combinations 152 82 329 407 122 Asset impairment 608 22,616 — — 1,535 Restructuring expenses 214 959 1,681 1,043 — Value adj. on acquired inventory through a business combination — (40) 59 94 — (Gain) on sale and leaseback (4,514) — — — — Adjusted net earnings 8,429 11,874 18,335 29,980 17,409 Weighted average number of shares 24,531 24,935 25,898 26,153 27,195 Net earnings (loss) per share 0.49 (0.47) 0.67 1.09 0.58 Adjustments, net of income taxes, per share (0.15) 0.95 0.05 0.06 0.06 Adjusted net earnings per share 0.34 0.48 0.72 1.15 0.64 Reconciliation of Non-IFRS Financial Measures
Page 52
52 Reconciliation of Non-IFRS Financial Measures Reconciliation of Net cash flows related to operating activities to Free cash flow (In thousands of dollars) 2025 2024 2023 2022 2021 Net cash flows related to operating activities 20,749 32,087 43,897 26,914 29,996 (Acquisitions) net of disposals of property, plant and equipment 52,534 (275) (3,576) (2,180) (3,304) Acquisitions of intangible assets (83) (114) (352) (372) (550) Free cash flow 73,200 31,698 39,969 24,362 26,142
Page 53
53 Reconciliation of Non-IFRS Financial Measures Reconciliation of Net cash flows related to operating activities to Free cash flow (In thousands of dollars) 2025 Q4-25 Q3-25 Q2-25 Q1-25 2024 Q4-24 Q3-24 Q2-24 Q1-24 Net cash flows related to operating activities 20,749 14,088 (608) 304 6,965 32,087 9,201 7,568 10,222 5,096 (Acquisitions) net of disposals of property, plant and equipment 52,534 (679) 53,653 (300) (140) (275) (487) (189) 764 (363) Acquisitions of intangible assets (83) — (13) (45) (25) (114) (38) (10) (66) — Free cash flow 73,200 13,409 53,032 (41) 6,800 31,698 8,676 7,369 10,920 4,733
Page 54
54 Reconciliation of Non-IFRS Financial Measures Net Debt to Adjusted EBITDA ratio (in thousands of dollars, except for ratios) 2025 2024 2023 2022 2021 Total debt 4,135 43,142 56,766 54,748 44,529 Deferred financing costs (63) (159) (256) (334) (178) Cash (3,090) (1,794) (1,066) (1,929) (6,365) Net debt 982 41,189 55,444 52,485 37,986 Adjusted EBITDA (LTM) 29,952 40,333 49,119 56,841 39,042 Net debt to Adjusted EBITDA ratio 0.03 1.02 1.13 0.92 0.97
Page 55
55 Reconciliation of Non-IFRS Financial Measures Net Debt to Adjusted EBITDA ratio (in thousands of dollars, except for ratios) Q4-2025 Q3-2025 Q2-2025 Q1-2025 Q4-2024 Total debt 4,135 11,691 40,574 37,974 43,142 Deferred financing costs (63) (162) (124) (130) (159) Cash (3,090) (2,642) (2,056) (2,423) (1,794) Net debt 982 8,887 38,394 35,421 41,189 Adjusted EBITDA (LTM) 29,952 33,782 35,512 38,679 40,333 Net debt to Adjusted EBITDA ratio 0.03 0.26 1.08 0.92 1.02
Page 56
56 Reconciliation of Non-IFRS Financial Measures Reconciliation of EBITDA and Adjusted EBITDA for the past eight quarters (In thousands of dollars, except for margins) Dec. 31 2025 Sep. 30 2025 Jun. 30 2025 Mar. 31 2025 Dec. 31 2024 Sep. 30 2024 Jun. 30 2024 Mar. 31 2024 Net earnings (loss) 1,284 9,127 (309) 1,920 5,819 (23,038) 1,980 3,496 Income tax expense (recovery) 1,625 (3,139) 56 801 1,814 (801) 631 1,153 Net financing charges 1,279 1,456 945 1,057 1,178 1,270 1,294 1,114 Depreciation of property, plant and equipment 1,083 1,506 1,552 1,488 1,626 1,755 1,730 1,633 Depreciation of right-of-use assets 1,602 1,603 1,399 1,568 1,588 1,575 1,478 1,354 Amortization of intangible assets 1,886 1,667 1,688 1,682 1,715 1,777 1,716 1,709 EBITDA 8,759 12,220 5,311 8,516 13,740 (17,462) 8,829 10,459 Retroactive COVID-related subsidies — — (71) — — — — — Acquisition costs related to business combinations 72 79 56 — 7 (6) 111 — Asset impairment 258 — 563 — — 23,337 75 — Restructuring expenses (recovery) — 4 (28) 313 (828) 2,064 37 24 Value adj. on acquired inventory through a business combination — — — — — — (54) — (Gain) on sale and leaseback — (6,100) — — — — (54) — Adjusted EBITDA 9,089 6,203 5,831 8,829 12,919 7,933 8,998 10,483 Adjusted EBITDA margin (%) 12.5% 9.4% 8.8% 12.6% 18.7% 11.4% 13.0% 14.3%
Page 57
Date Acquired Company Location Description December 8, 2025 Elite Envelope Massachusetts Manufacturer and printer of envelopes, serving the New England market July 14, 2025 Enveloppe Laurentide St-Laurent, Quebec Long-standing manufacturer and printer of envelopes, serving the Eastern Canada market July 7, 2025 Trans-Graphique Boisbriand, Quebec Provider of folding carton packaging solutions, mainly for the at-home food consumption market May 1, 2024 Forest Envelope Group Bolingbrook, Illinois Specialty envelope manufacturer May 8, 2023 Graf-Pak Inc. Quebec Provider of folding carton packaging solutions January 16, 2023 Impression Paragraph Inc. Quebec Integrated provider of paper-based packaging, print and point of sale products November 1, 2022 Royal Envelope Corporation Chicago, Illinois Envelope manufacturer and lithography company providing direct mail solutions for the financial services sector February 4, 2022 Niagara Envelope Niagara, New York Very small regional manufacturer of envelopes in Niagara, New York March 8, 2021 Vista Graphic Communications Indianapolis, Indiana Printing and packaging solutions manufacturer focused on highly customized folding cartons and micro flute packaging and serves clients primarily in the medical, dental and publishing markets February 18, 2020 Royal Envelope Ltd. Canada Leading Eastern Canada based envelope manufacturer and printer April 30, 2018 Groupe Deux Printing / Pharmaflex Labels Laval, Quebec Groupe Deux Printing: in-house pre-press operations and leading-edge manufacturing and printing technology Pharmaflex: manufacturer of folding carton packaging and labels primarily for the pharmaceutical industry July 20, 2017 Stuart Packaging Quebec Leading eco-friendly provider of folding carton packaging for the consumer market. Offers packaging and finishing solutions for multinational companies in the cosmetics, nutraceutical, fragrance and pharmaceutical industries August 26, 2016 Bowers Envelope Company Indiana Manufacturer and printer of envelopes strategically located at “The Crossroads of America” December 1, 2015 Premier Envelope Canada Established manufacturer of stock and custom envelopes, principally operating in Western Canada October 8, 2015 Classic Envelope Massachusetts Manufacturer and printer of envelopes, serving the greater Boston and New York City areas September 16, 2010 Pioneer Envelope British Columbia Manufacturer and printer of envelopes, serving British Columbia and Alberta markets September 16, 2008 Montreal Envelope / Metro Envelope Quebec & Ontario Manufacturer and printer of envelopes, serving Quebec and Ontario markets August 9, 2007 NPG Envelope Ontario & Manitoba Manufacturer and printer of envelopes, serving the Canadian market Acquisition Details (Since IPO in 2006) 57
Page 58
w w w . s u p r e m e x . c o m Head Office 7213 Cordner Street LaSalle, Quebec H8N 2J7 investors@supremex.com Tel: (514)-731-0000 extension 229