ADENTRA (ADEN) investor relations material

Strategic platform and market position

• Operates a coast-to-coast distribution platform with 81 locations, serving over 60,000 customers and sourcing from 2,500+ suppliers across 30+ countries.

• Maintains a diversified product portfolio with significant growth opportunities in large, untapped markets, targeting a $48 billion total addressable market.

• Employs a multi-brand strategy and digital sales platform to enhance customer engagement and expand market reach.

• Focuses on operational efficiency, economies of scale, and robust financial controls to drive integration and performance.

• Positioned as one of the largest two-step distributors of architectural building products in North America, with a strong competitive market position.

Financial performance and shareholder returns

• Achieved $2.2 billion in sales and $188 million in adjusted EBITDA in 2025, with free cash flow of $92.4 million.

• Adjusted EBITDA has grown at an 18% CAGR over the past 12 years, supported by consistent execution and strategic investments.

• Dividend has increased annually for 13 years, resulting in a total shareholder return CAGR of 18.3% over 13 years.

• Maintains a leverage ratio within the 2-3x target range, with over $485 million in liquidity and strong free cash flow resilience.

• Long-term value creation plan is fully fundable within the current balance sheet and ongoing cash generation.

Growth strategy and M&A

• Acquired 17 companies since 2010, adding $1.9 billion in sales through geographic, product, and customer channel expansion.

• M&A strategy focuses on attractive regions, products, and channels, targeting 4-8x TTM EBITDA pre-synergies and 1-1.5x multiple reduction via synergies.

• Achieved a 50% increase in EBITDA through post-acquisition synergies, including purchasing power, cross-selling, and operational efficiencies.

• Maintains a robust pipeline for disciplined, accretive acquisitions aligned with strategic priorities.

• Transformation since 2014 includes expanding from 1 to 8 brands, 3 to 10 product categories, and $318 million to $2.08 billion in US sales.