t in Po Bl Fall 2025 ue Confidential Information Presentation Disclaimer This Confidential Information Presentation (the “Presentation”) is intended solely for the use of prospective participants in determining whether or not to pursue a potential transaction involving Handi Foods Ltd. (the “Company”). This Presentation is of a proprietary and confidential nature and is only being furnished to those parties who have agreed to be bound by the terms and conditions of a previously executed confidentiality agreement among each such party and the Company (the “Confidentiality Agreement”). William Blair & Company, L.L.C. 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Ben Riback Managing Director, Head of Food & Beverage +1 312 364 8882 briback@williamblair.com Brent Smith Managing Director, Head of Consumer M&A +1 312 364 5392 bsmith@williamblair.com Artie Preiss Director, Food & Beverage +1 312 364 8956 apreiss@williamblair.com Zach Marzouk Vice President, Food & Beverage +1 312 364 8564 zmarzouk@williamblair.com 2 Bl ue Po in t The Leader in Better-For-You Baked Snacks 3 Table of Contents Executive Summary 2 Investment Highlights 3 Strategic Growth Plan 4 Market Opportunity 5 Company Overview 6 Operational Excellence 7 Financial Overview Bl ue Po in t 1 4 ue Po in t Executive Summary Bl 1 at a Glance 60% of Gross Sales(1) Leading value-added provider of baked snacks in North America 21% of Gross Sales(1) Financial Highlights (FY2025A) ($ in CAD; Fiscal Year Ending July 31) t Scalable platform with highly attractive opportunities for growth Crackers Operating within the sizable ~$12B North American baked snack market 2% of Gross Sales(1) Pretzel Chips Strategic Channels Puffs & Bits 25.2% FY2021A – FY2025A Net Sales CAGR 95%+ Free Cash Flow Conversion(3) Representative Customers Bl 14% 17% 41% 35% Private Label PF Adj. EBITDA Margin(2) % of Gross Sales (FY2025A) 10% Brand Partners 31.9% Cross-Border Capabilities % of Gross Sales (FY2025A) 69% PF Adj. EBITDA(2) ue Diverse Channel Mix 31% $28.8M Po Recent capital investment in high-capacity lines enabling significant automation and efficiencies % of Gross Sales (FY2025A) Chips 17% of Gross Sales(1) Innovating, developing, and manufacturing better-for-you (BFY) baked snacks Net Sales in End-to-end solutions partner simplifying private label and co-manufacturing programs $90.1M Mass Club Private Label Grocers 83% Grocery Canada Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. (1) FY2025A. (2) 2025A PF Adjusted EBITDA reflects $4.5M in one-time and non-recurring adjustments and $0.5M in pro forma adjustments. See pages 78-79 for additional detail. (3) Free Cash Flow represents (Adj. EBITDA – Maintenance Capital Expenditures) / Adj. EBITDA. U.S. 6 Significant Investment to Create a World-Class Baked Snack Platform 2014 ▪ Began transition to snacks from pita bread ▪ Line 3 installed at Norelco t Adds a New Partner ▪ Acquired by Ironbridge Equity Partners in September 2022 in Discontinued Bread Operation ▪ In 2019, focus shifted exclusively to BFY baked snacks Po 2012 ▪ Customer wins with Aldi, H-E-B, Walmart (USA), and Costco (Canada) Customer Wins ▪ Expanded partnership to include Albertsons, Boudin (Fog City Brands), Farm Boy Lidl, and Trader Joe’s Leading Baked Snacks Platform and Partner to Top Retail and Snack Manufacturers Facility Investment ▪ Lines 4 (2021) and 5 (2022) installed at Norelco Newkirk Facility Greenfield (2024) ▪ Lines 6 and 7 installed at Newkirk ▪ Pretzelized production begins ▪ Line 8 expected to be installed at Newkirk in CY1Q’26 ue 1977 ▪ Founded by a firstgeneration immigrant from Lebanon. Originally produced pita bread for customers in the Greater Toronto Area Strategic Investments and Professionalization Management Additions (2017) ▪ Brian Arbique (CEO) & John Dobie (VP of Operations) added to Executive Team Bl The Family Years Management Addition (2024) ▪ Marc Diamant (CFO) added to Executive Team 7 Leading Better-For-You Baked Snack Platform with Significant Near-Term Organic Growth Automated & High-Capacity Manufacturing Capabilities Nimble Innovation Engine Flexible Production Lines Designed for Product Versatility Focused on Fast-Growing End Markets in t Proprietary Baking Process Po Robust Financial Profile $150.0 Net Sales Net Sales CAGR: 17.3% PF Adj. EBITDA $100.0 $50.3M $9.4M $0.0 FY2021A FY2022A 17.7% 18.6% $19.3M (1) $120.0 $24.7M $90.1M (2) $28.8M $100.0 $100.3M (3) $31.0M $38.5M Bl $6.5M $140.0 $125.2M $79.3M $71.8M $36.9M $160.0 $151.0M PF Adj. EBITDA Margin Net Sales CAGR: 25.2% $50.0 $200.4M $176.5M ue $200.0 Talented & Experienced Management Team $49.2M $59.4M $68.8M $60.0 $40.0 $20.0 $0.0 FY2023A FY2024A FY2025A FY2026E FY2027P FY2028P FY2029P FY2030P 26.8% 31.1% 31.9% 30.9% 30.8% 32.6% 33.6% 34.3% Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. FY2021A – FY2022A represent internal financials. FY2023A – FY2025A represents QoE adjusted financials. (1) FY2023A PF Adj. EBITDA reflects $0.3M in in one-time and non-recurring adjustments and no pro forma adjustments. See pages 78-79 for additional detail. (2) FY2024A PF Adj. EBITDA reflects $3.2M in in one-time and non-recurring adjustments and no pro forma adjustments. See pages 78-79 for additional detail. (3) FY2025A PF Adj. EBITDA reflects $4.5M in in one-time and non-recurring adjustments and $0.5M in pro forma adjustments. See pages 78-79 for additional detail. $80.0 8 Built to Win: Leveraging Platform & Category Strength Everyday Consumption  Better-For-You  Private Label  Global Flavors  Functional Formats - VP Brands, Non-Customer “We run private brands to differentiate; customers can only get our products at our stores. We want to offer products that will get customers hooked and encourage them to come back.” - VP of Private Brands, Non-Customer “We have been actively considering the naan category due to increasing customer requests. The entire naan category, whether it’s naan dippers with more fluffiness or naan crackers, is experiencing tremendous consumer demand.” - BD Manager, Customer (1) (2) Modern, HighlyAutomated Operations Significant Capacity ue Ethnic Diet Sole Source Supplier to All Customers but One Relentless Focus on Quality Assurance & Food Safety ~$12B Baked Snack Market Opportunity(1) Third-party market study, October 2025. Represents investment in capital assets from FY2021A (August 2020) through CY1Q’26. $ in CAD. Room for 3 More Lines – Next Line On-Track for CYQ1’26 ~$65M Invested in 5 HighCapacity Production Lines(2) Over a Decade Partnership with 4 of 5 Top Customers Proven Ability to Innovate Bl  “Underlying market trends like better-for-you snack development and flavor innovation are the main growth drivers in the salty snack category.” A Leading Baked Snack Platform Po  Go-To Partner t Powerful Market & Consumer Tailwinds in Aligned with Snacking Trends “All Hands” Service Mindset Blue-Chip and High-Growth Customer Base 9 t in ue Po Investment Highlights Bl 2 Investment Highlights Leading Baked Snack Platform with Flexible Production Capabilities in t 1 7 Highly Automated Baking Equipment with Ample Capacity to Scale, Serving as the Responsibly Priced Manufacturer of Choice 4 Proven Product Developer with a Track Record of Innovation 5 Strong Industry Tailwinds – Private Label Penetration and Better-For-You Snacking is Outpacing the Market ue 3 Bl 6 Po Trusted Sole Source Supplier and Long-Term Partner to Leading Blue-Chip Retailers and High-Growth Brands 2 Experienced Management Team Driving Unrivaled Profitability and Consistent Margin Expansion Attractive Pipeline of Near-Term Growth Initiatives 11 1 Leading Baked Snack Platform with Flexible Production Capabilities ...Delivering High-Quality Products at Scale… …With a Defensible Market Position t A Category Leading Platform… Proprietary Baking Process Differentiated small batch, double-baked manufacturing process consistently yields superior products ✓ Broad Product Offering Comprehensive product portfolio across in-demand formats, delivered at scale ✓ Execution Excellence Uncompromising focus on quality, consistency, and responsiveness ✓ Innovation Leader Pioneering new, BFY baked snack products through fast-adapt innovation model ✓ Manufacturing Flexibility Flexible lines designed for versatility across product types and run duration ✓ Authentic Heritage Modern snacking innovation deeply rooted in authentic pita tradition ✓ Sole Source Supplier Delivering unmatched reliability as the clear, go-to solutions partner to blue-chip and high-growth customers Po in ✓ Longstanding Relationships High customer satisfaction anchored by Handi Foods’ entrenched role as a strategic, value-driving partner ue ✓ Custom Solutions Seamless integration of seasonings and inclusions across product portfolio Bl ✓ ✓ Streamlined Commercialization Integrated team across sales, R&D, and execution functions for consistent service and delivery ✓ High Barriers to Entry Complex product replication, established customer partnerships, long equipment lead times, and automation fueled by significant capital investment deter new market entrants ✓ Responsible Pricing Established pricing strategy that reinforces premium quality, builds lasting customer trust, and delivers strong margins 12 1 is Attacking the Market with its Broad Solutions Offering End-To-End Baked Snack Solutions Partner with a Comprehensive Product Portfolio… Chips Pretzel Chips 60% of Gross Sales(1) 21% of Gross Sales(1) Puffs & Bits in t Crackers 2% of Gross Sales(1) Po 17% of Gross Sales(1) … and a Wide Range of Bases, Flavors, and Packaging Bases & Oils Wide-Array 5 65%+ Active SKUs of Packaging Formats Operating Days per Week(2) Utilized with Addition of 6th Line(3) Production Capabilities Production Lines(4) Shifts Twice Per Day Room for 3 Additional Lines(4) 6 12-Hour Ample ✓ Sea Salt ✓ Roasted Garlic ✓ Cheddar ✓ Legume Blend ✓ Black Olive ✓ Sweet Onion ✓ Chive Grains & Seeds Bl 150+ Flexible ✓ Enriched Wheat Flower ✓ Sunflower Oil ✓ Chickpea Flour ue ✓ Potato Flour ✓ Corn Flour ✓ Extra Virgin Olive Oil Seasonings & Inclusions ✓ Whole Grain ✓ Ancient Grain ✓ Multigrain ✓ Chia Seed ✓ Poppy Seed ✓ Flax Seed ✓ Quinoa Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. (1) FY2025A. (2) Ability to increase capacity without incremental equipment or capex through a 6 th day. (3) Scheduled for installation at Newkirk facility in CY1Q’26. Assumes FY2026E volume and current production schedule: two 12-hour shifts, 5 days per week. Includes allowances for changeovers, routine mechanical downtime, and preventative maintenance. (4) Includes 6th line to be installed at Newkirk facility in CY1Q’26. ✓ Parmesan ✓ Manchego ✓ Chili ✓ Feta ✓ Rosemary Leaves ✓ Jalapeño ✓ Buffalo Bake Type ✓ Pita ✓ Naan ✓ Pretzel ✓ Brioche ✓ Sourdough 13 Private Label 31% of Gross Sales (1) Brand Partnerships Sole Source     Customer Tenure (Years) Segment FY25A Gross Sales % of Gross Sales ($M) (FY25A) t 69% of Gross Sales(1) Trusted Sole Source Partner to 9 of the Top 10 Customers 10+ $16.3 18.0% Brand Partner 2+ $16.3 18.0% Private Label 10+ $9.9 10.9% Customer 4 Brand Partner 10+ $8.7 9.6% Customer 5 Private Label 10+ $8.1 8.9% Customer 6 Private Label 5+ $5.9 6.5% Customer 7 Private Label 5+ $3.1 3.4% Customer 8 Private Label 15+ $2.9 3.2% Customer 9 Private Label 5+ $2.7 3.0% Customer 10 Private Label 5+ $2.7 3.0% All Other - - $14.2 15.6% Total - - $90.8 100.0% Customer 1 Private Label Customer 2 Customer 3 in Go-To Partner for Premier Retailers and Disruptive Brands Po      ue Permanent Private Label Behavior Shift(2) 10.0% 10+ Years Deep, Longstanding Partnerships: More than a decadelong tenure with 4 of the Top 5 customers ~8 Consistent Customer Loyalty: Average tenure of ~8 years across the Top 10 customers Years 91% Critical Supply Role: Sole source supplier to customers representing 91% of total FY2025A gross sales Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. (1) FY2025A. (2) U.S. Private Label Report, Circana data. Represents packaged food sales only. (3) Euromonitor. (% YoY Growth) 13.0% 8% 7% Bl 2 Trusted Sole Source Supplier and Long-Term Partner to Leading Blue-Chip Retailers and High-Growth Brands CY2022 CY2023 Private Label 3.0% 1% CY2024 4.0% 1% CY1H'25 National Brands North American Private Label Snacking Growth(3) CY2016A CY2025E CAGR (’16A – ’25E) $9.8B $17.2B 6.5% 14 The Handi Advantage: Driving Long-Term Customer Loyalty Ease of De t 1 Accelerated Development Timeline Samples, line trials, and costing are consistently delivered ahead of schedule, supporting rapid product launches po a lS lM er u l t i vic e Res ns ib e n io a t n ep E x c cti o Fun 3 Bl l Pr Partnership Model Meet defined cycle-time and on-time, in-full (OTIF) standards, while leveraging deep customer relationships ue 4 Retail-Aligned Cost Structure Intentional pricing across brand partnerships and private label programs while supporting retailer margin goals – Senior Product Manager, Customer “Handi Foods has been best-in-class for us. They have done a good job of coming to the table with innovative thoughts and thinking.” – Senior Product Manager, Customer 2 Strategic Pricing Discipline Actively monitors pricing at retail to ensure products are competitively positioned “Within our quality spectrum, Handi Foods sits at the highest end. We have a three-tiered system of good, better, and best and all of Handi Foods’ products sit in our best tier.” Po ty ali u Q ct Customer-Centric Flexibility Seamless coordination across R&D, operations, and customer teams ent pm lo ve Consumer-Validated Excellence High repeat purchase rates and strong consumer satisfaction, driven by unmatched product consistency Pr od u Where Tradition Meets Commercial Excellence Quality ingredients and time-tested artisan baking techniques deliver quality products that exceed expectations in 2 ici ng Responsive & Scalable Support Ability to flex resources and capabilities to meet evolving customer needs “The individuals we work with at Handi Foods are hands-on, which makes the projects and business relationships go a lot smoother. Handi has been great working with us across the board.” – Director at Contract Manufacturing, Customer “While Handi Foods may be slightly higher priced than competitors, I can count on them to have product in the warehouse in good quality. They have competitive pricing, slightly more expensive but for all the right reasons.” – Business Development Manager, Customer 15 2 Strong Retailer Value Proposition Drives Cross Merchandising Handi Foods’ Products are Strategically Merchandised in the Most Desirable In-Store Locations t Refrigerated Deli Section Po in Premium Cheese / Charcuterie Cooler Bl Targeting healthconscious patrons ue For easy pairings BFY / Healthy Foods Placements near hummus & spreads for high-margin add-ons Featured in elevated snacking sections Premium Shelf Stable Snacks Handi Foods’ baked snacks are merchandised both as standalone offerings and strategically paired with complementary products, enabling cross-departmental sell-through and increased basket size 16 Handi Foods Delivers a Highly Attractive Product to Retailers – VP of Private Brands, Non-Customer in ▪ Pita snacks are often placed in sections that are actively prioritized by retailers; the deli and better-for-you locations that are common areas to display pita, and at the same time, experience strong sales performance – driving retailers to focus on investing in these categories “In our stores we place pita and naan snacks in the full deli section, bread section, dairy section, and dry good sections. In total, when you visit our stores, you’ll likely find pita products in about six different locations.” t High-Priority Grocery Departments “Pita chips can be a power play in two different areas: either as an on-the-go item or as a specialized product…In the center store, depending on the quality of the chip, that's where we can potentially make our margin.” Po Placement Flexibility / Cross-Merchandising with Complementary Products ▪ Pita snacks benefit from flexible placement, performing well in high-traffic areas and increasingly featured in better-for-you and cross-merchandising hubs (e.g., deli) to drive cross-sell and health-driven snacking “Pita snacks are typically a higher margin, better retail value item. To get that extra item in the basket, it's easier to sell when it's a $3 to $4 purchase versus an $8 or $9 premium cracker. We cross promote items like that where we can leave it at the full retail price alongside an item that we may be discounting.” ue High Margin Offering – Senior Director of Brands, Non-Customer ▪ Pita snacks deliver high margins for retailers as they are positioned as premium, better-for-you alternatives to traditional chips and crackers – VP of Private Brands, Non-Customer “Pita chips work as both high margin products and impulse items. When making pita chips in a single three-or-four-ounce format, it’s more of an impulse buy for customer going to the grocery store to buy a sandwich and decide to buy the pita chip package for $2.” Bl 2 Pita Snacks Increase Consumer Basket Spend ▪ Pita snacks often drive incremental basket spend by creating impulse purchases in prime store locations and by naturally pairing with complementary goods such as cheese, dips, and deli products – encouraging shoppers to add more to their carts beyond the core snack purchase Source: Third-party market study, October 2025. – Senior Director of Brands, Non-Customer 17 Exceptional Customer Satisfaction Driving Continued Spend Customer Likelihood to Continue Using Handi Foods Over the Next 3 Years Customer Difficulty to Switch Private Label Vendors (Scale 0–10: 0 = “Not at all Likely to Recommend”; 10 = “Extremely Likely to Recommend”) (Scale 1–7: 1 = “Not at all Likely”; 7 = “Extremely Likely”) (Scale 1–7: 1 = “Not at all Difficult”; 7 = “Extremely Difficult”) 10% Promoters (9–10) in 90% t Customer Likelihood to Recommend / Net Promoter Score (NPS) - Handi Foods Low Churn Risk (5–7) 100% 80% Po 2 10% 10% Passives (7–8) Very Difficult (5–7) Neutral (4) Not Difficult (1–3) Historical Purchases Increase (FY21–FY24 CAGR) Likelihood to Increase Spend with Handi Foods (Next 3 Years)(1) Driver(s) of Expected Spend Increase 26% 7/7 Expansion into new products (e.g., new flavors of pita snacks, cracker types) 19% 7/7 Expansion into new products (e.g., brioche, sourdough) 18% 7/7 Organic sales growth & expansion into new products (e.g., sourdough, naan) NA(2) 7/7 Organic sales growth & expansion into new formats Bl Customer ue Handi Foods’ Customers: Expansion Outlook Source: Third-party market study, October 2025. (1) Based on a 1–7 scale (1 = “Not at all Likely”; 7 = “Extremely Likely”). (2) NA denotes “not applicable.” Pretzelized came to market with Handi Foods in FY2024. Gross sales from Pretzelized increased from ~$4M CAD in FY2024A to ~$16M CAD in FY2025A. 18 Highly Automated Bakery Equipment with Ample Capacity for Growth, Serving as the Responsibly Priced Manufacturer of Choice State-of-the-Art Facilities Production / Operational Initiatives t ▪ Newkirk: Custom-Designed Bakery Newkirk (Ontario) 3 High-Capacity Lines(1) in – 2 high-capacity lines installed in FY2024 108,000 sq. ft. – 1 additional high-capacity line to be installed CYQ1’26 – 20% reduction in maintenance / KG and a 6% reduction in direct labor / KG(2) Po 3 – Specialized conveying and slicing for Artisanal Chip production enhances line capacity to 500+ KGs / hour from 200 KGs / hour Norelco (Ontario) 46,000 sq. ft. ue 3 Production Lines(3) – Dual-bagging capability allows for higher throughput on smaller sized products ▪ Norelco: Key Updates Executed – 1 high-capacity line installed in FY2022 PF Adj. EBITDA Margin(4) 15% FY2017A (1) (2) (3) (4) (5) (6) 31% – 1 high-capacity line installed in FY2021 – 1 legacy line installed FY2014 Bl +16% FY2025A ~$65M 65%+ 200+ Capex Investment in High-Capacity Lines(5) Utilized with Addition of 6th Line(6) Employees Across All Functions Includes the third, high-capacity line (L8) to be installed in CY1Q’26. FY2024A – FY2025A. Includes 2 high-capacity lines. FY2025A PF Adj. EBITDA reflects $4.5M in one-time and non-recurring adjustments and $0.5M in pro forma adjustments. See pages 78-79 for additional detail. Represents investment in capital assets from FY2021A (August 2020) through CY1Q’26. Scheduled for installation at Newkirk facility in CY1Q’26. Assumes FY2026E volume and current production schedule: two 12-hour shifts, 5 days per week. Includes allowances for changeovers and mechanical downtime. 19 3 Newkirk: Custom-Designed Facility Ample Space Available Thoughtfully Designed t ▪ Streamlined layout drives fast, frictionless flow from receiving to shipping in Raw Materials Storage ▪ Linear production line boosts output and minimizes inefficiencies Line 6 Line 7 ▪ Expandable indoor silo system unlocking bulk purchasing discounts and increased efficiency versus totes Line 9 Line 10 Packaging / Seasoning Storage Meaningful Cost Reduction Initiatives Direct Labor Cost per KG ($ in actuals) $0.99 $0.93 Bl Maintenance Expense per KG ($ in actuals) ▪ Packaging and seasoning staged at line-end next to storage and shipping area for seamless final stages ue Additional Line Capacity / Lines Not Yet Built FY2024A ▪ Raw materials stored adjacent to dough mixers for rapid changeovers and reduced downtime Installation Scheduled for CY1Q’26 Current Lines $0.15 Po Line 8 $0.12 FY2025A From FY2021A–FY2025A, direct labor expenses declined by 18%+, despite 3%+ annual cost-of-living increases paid by Handi Foods FY2024A FY2025A 20 3 Meaningful Investment in New Production Line to Expand Capacity and Drive Continued Growth State-of-the-Art Line Custom-Built for Handi Foods New Line Metrics (FY2026E) $13.3M Capital Investment(1) in New Line Design Concept t ($CAD) Po FY2026E Expected Volume (KGs) x ASP / KG(2) Strategic Investment Priming Growth New Line Snapshot Plant Newkirk  Installation Date CY1Q’26 Primary Products Volume (at Capacity) Reading Bakery Systems Pretzel Chips, Chips, Crackers ✓ Capable of producing wide range of products providing capacity headroom for new and existing customers ✓ High-capacity line that will accelerate overall throughput and further drive direct labor efficiencies Bl OEM FY2026E Contribution(4) ue High-Capacity Line ✓ Supports continued expansion within the rapidly growing pretzel chips segment Incremental FY2026E Net Sales(3) 4.0M KGs(5) Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. (1) Of the total expected $13.3M capex investment, $1.9M has already been paid. The majority of the balance is due upon installation in CY1Q’26. (2) Calculated as Total FY2026E Net Sales / Total FY2026E Volume. (3) Calculated as $9.61 ASP per KG x FY2026E New Line Volume. (4) As a % of FY2026E Net Sales. (5) Assumes FY2027P – FY2030P production schedule of two 12-hour shifts, 6 days per week at current production speed, with the ability to increase capacity without incremental equipment or capex. (6) Calculated as (FY2026E ASP Contribution Margin x Expected Volume at Capacity – Total Capital Investment) / Total Capital Investment. (7) Calculated as (FY2026E ASP Contribution Margin x Expected Volume at Capacity) / Total Capital Investment. = 51.4% Margin 765K $9.61 $7.3M $3.8M New Line Metrics (at Capacity) Expected Volume at Capacity (KGs)(5) 4.0M Return on Investment(6) 51% Payback Period(7) ~8 Months 21 Proven Formulation Expertise Powering Commercial Success Driving Results Through Innovation Innovation Driven Sales Growth 54.9 58.8 57.1 $50.0 $37.4 6.6 37.4 43.5 FY2021A FY2022A FY2021A and Prior % from New Innovation(1) FY2023A FY2022A 13.1% FY2023A 24.2% ue Continuous Market Intelligence Branded product innovation is closely monitored using both syndicated research and proprietary data, providing insights that guide product formulation, marketing, and competitive differentiation Rapid Adaptation for Private Labels An established in-house R&D team, with strong credibility among retailers, enables quick translation of multinational consumer packaged goods (CPG) innovation to private label offerings, supporting customer retention and accelerated timeto-market Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. (1) Represents % of FY gross sales. Represents SKUs introduced after FY2021A. Nearly 40% of FY2025A Gross Sales Derived from Handi Innovated Products Over the Last 4 Years t $90.8 3.5 15.9 2.4 11.9 Po Customer and Trend-Driven Innovation New products are developed in-house in response to direct retailer requests or inspired by emerging consumer trends, ensuring alignment with market demand and growth opportunities $72.4 3.2 14.3 $79.9 4.6 3.4 13.1 in Historic Expansion of Product Portfolio Leveraged traditional pita bread expertise to develop a full range of BFY snack products across various formats, broadening Handi Foods’ offering to a wider audience ($ in CAD millions) FY2024A FY2024A 26.5% FY2025A FY2025A 37.1% 150+ 100+ ~$20M Active SKUs Samples Developed Annually FY2030P Projected Gross Sales from New Product Innovation Bl 4 From Ideation to Product Experience, Offers End-to-End Solutions 22 5 is Leading Growing Segments in the Massive Snacking Market… t (U.S. & Canada Multi-Outlet Snack Food Spend, in Retail Dollars) Growing U.S. & Canada Baked Snack Category ($ in USD) (Total Baked Snack Opportunity Growth | U.S. & Canada | Retail Dollars) ~3% CAGR ~5–6% CAGR $13.2B $950M-$1,010M $480M-$500M $9.9B $2.1B $2.7B 2025E 2028P Private Label ~8–9% Private Label Baked Snacks CAGR Name Brands Stability and Resiliency of Snacking Demand for Better-For-You Food Options North American snack foods remains resilient, driven by more snacking occasions, convenience, and a focus on health Consumers are shifting toward better-for-you snacks, favoring clean-label formats (baked, multigrain) and functional benefits (protein, fiber) Bl Handi Foods’ Offering is Aligned with Consumer Trends $10.5B $470M-$510M ue $69B 2025E $1,065M-$1,125M Po $12.0B (Total Pita Cracker, Pita Chip and Pretzel Chip Opportunity Growth | U.S. & Canada | Retail Dollars) in Large U.S. & Canada Snacking Category ($ in USD) Highly Attractive U.S. & Canada Pita Crackers / Chips and Pretzel Chips Sub-segments ($ in USD) 2025E $510M-$530M $555M-$595M 2028P Pita Crackers / Chips Pretzel Chips Increased Purchasing of Pita Snacks Pita snacks are growing as a healthier alternative, supported by rising interest in global flavors (e.g., Mediterranean) Source: Nielsen Byzzer Data and third-party market study, October 2025. Note: Total Baked Snack spend excludes spend on traditional tortilla and potato chips and some non-chip/cracker baked snacks not included in Nielsen dataset for bagel chip/pretzel chip/pita chip and crackers. 23 5 … And is Perfectly Aligned to Growth in Private Label Private Label Set to Capture Growing Share of Consumer Snacking Spend(1) 35% 10% Increase in Consumers that Expect to Purchase More Private Label Products 8% Last 3 years Next 3 years Po 57% 10% Purchase more Purchase about the same Purchase less Purchasing more private label CY2022A Private Label Growth is Consistently Outpacing Name Brands(3) CY1Q’24 3.3% 3.9% 4.5% 3.4% 0.7% 0.8% CY2Q’24 1.0% 1.2% 0.1% CY3Q’24 2024 Total: (1) (2) (3) 5.4% 2.4% 1.4% Private Label Snack Consumption Growing with Attractive Consumer Segments(1) 6.9% 5.3% L52W Millennial Consumers Expected to Purchase the Same 94% of or More Private Label Snacks Over the Next 3 Years 4.8% 2.8% 2.7% Bl 2.0% 1.5% 0.9% 3.5% 4.3% 4.8% CY2024A ue 7.0% CY2023A Total Private Label Snacking Growth Relative to Total Branded Category Growth (Monthly Dollar Sales vs. Year Ago, Private Label and Name Brand, Percentage Growth Relative to Equivalent Month One Year Prior) 3.4% 2.0x 1.8x 1.3x 58% 2.9% 2.7x in 32% t (Percentage of Snacks Purchased that are Private Label | Consumer Web Survey Respondents | Past 3 Years vs. Next 3 Years) Private Label Snacks Drive Category Expansion, Consistently Outpacing Branded Growth(2) 2.2% 2.1% 1.2% 0.7% -0.1% CY4Q’24 PL +3.9% 0.4% CY1Q’25 0.5% 2.2% 0.8% CY2Q’25 0.6% High-Income Consumers Expected to Purchase the 94% of Same or More Private Label Snacks Over the Next 3 Years Gen Z Consumers Expected to Purchase the Same 89% of or More Private Label Snacks Over the Next 3 Years Name Brands +1.0% Third-party market study, October 2025. Nielsen as of September 20, 2025. Private Label Manufacturer’s Association and third-party market study, October 2025. 24 6 Experienced Management Team Driving Unrivaled Profitability and Consistent Margin Expansion Proven F&B Veterans Have Positioned Handi for Growth Net Sales $250.0 ($ in CAD) CAGR: 17.3% Gross Margin % $0.0 $50.3M 25% 25% FY2021A FY2022A 36% 35% 32% $90.1M PF Adj. EBITDA $80.00 ($ in CAD) 70% 7+ Years with Handi Foods 60% 35% 36% 37% 37% John Dobie 40% VP Operations 30% 7+ Years with Handi Foods 20% FY2023A FY2024A FY2025A FY2026E FY2027P FY2028P FY2029P FY2030P PF Adj. EBITDA Margin % $68.8M 0.65 $59.4M $49.2M $50.00 (2) (1) $19.3M $20.00 $6.5M $9.4M 17.7% 18.6% FY2021A FY2022A 26.8% FY2023A $28.8M $31.0M 31.9% 30.9% (3) 0.55 $38.5M Bl CAGR: 45.1% $30.00 0.75 1+ Years ue CAGR: 19.0% $40.00 CFO 0.85 $60.00 $0.00 President & CEO Marc Diamant $90.00 $10.00 80% 50% 36% $100.00 $70.00 Brian Arbique in $36.9M $79.3M $71.8M $100.3M $125.2M 90% Po $100.0 $50.0 $151.0M CAGR: 25.0% $150.0 $176.5M $200.4M t $200.0 $24.7M 31.1% FY2024A FY2025A FY2026E 30.8% FY2027P 32.6% FY2028P 33.6% FY2029P Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. FY2021A – FY2022A represent internal financials. FY2023A – FY2025A represents QoE adjusted financials. (1) FY2023A PF Adj. EBITDA reflects $0.3M in one-time and non-recurring adjustments and no pro forma adjustments. See pages 78-79 for additional detail. (2) FY2024A PF Adj. EBITDA reflects $3.2M in one-time and non-recurring adjustments and no pro forma adjustments. See pages 78-79 for additional detail. (3) FY2025A PF Adj. EBITDA reflects $4.5M in one-time and non-recurring adjustments and $0.5M in pro forma adjustments. See pages 78-79 for additional detail. 34.3% FY2030P 0.45 0.35 0.25 0.15 with Handi Foods ✓ Righted the family business – professionalizing and implementing foundational best practices ✓ Designed and built a state-of-the-art 108k sq. ft. Newkirk facility with capacity to take Handi Foods to $200M+ of net sales ✓ Cemented a multi-year contract with Handi Foods’ fastest growing customer ✓ Grew net sales ~2.5x since FY2021A ✓ Improved margins by 14%+ since FY2021A, leading to $17M+ of incremental EBITDA 25 Well-Invested Operations Driving Industry-Leading Margins Best-in-Class Margins Driven By...  Outpacing the Market & Competition(1) Gross Margin(1) Significant investment in high-capacity production lines ~35% in 36% EBITDA Margin t 6  Highly scalable model with minimal increases to overhead  Sole source relationship reinforcing entrenched position at customer  Cost structure benefits from employer friendly Toronto labor market  Execution credibility allowing for ‘responsible’ vs. ‘lowest’ pricing 31% Po ~27% ~20% ~14% PL Brands Snack Brands ue Handi (2) Foods Handi (3) Foods PL Brands Snack Brands Track Record of Operational Improvement and Margin Strength(2) $0.6 PF Adj. EBITDA Margin 11.6% FY2018A $0.9 $1.6 $1.3 $1.5 $2.6 $3.1 $3.2 26.8% 31.1% 31.9% Bl PF Adj. EBITDA ($/KG) 15.5% FY2019A 21.6% FY2020A 17.7% 18.6% FY2021A FY2022A Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. FY2021A – FY2022A represent internal financials. FY2023A – FY2025A represents QoE adjusted financials. (1) PL Brands and Snack Brands represent third-party market research. (2) FY2025A. (3) FY2025A PF Adj. EBITDA reflects $4.5M in one-time and non-recurring adjustments and $0.5M in pro forma adjustments. See pages 78-79 for additional detail. (4) FY2023A PF Adj. EBITDA reflects $0.3M in adjustments and no pro forma adjustments. See pages 78-79 for additional detail. (5) FY2024A PF Adj. EBITDA reflects $3.2M in adjustments and no pro forma adjustments. See pages 78-79 for additional detail. (4) FY2023A (5) FY2024A (3) FY2025A 26 7 Attractive Pipeline of Near-Term Growth Initiatives Organic Growth Upside 2 3 4 Expand Wallet Share with Existing Customers Through Increased Distribution and Cross-Sell Opportunities Strategic Growth Through New Customer Relationships New Product Development Leveraging Existing Manufacturing Assets Upside to Plan Accelerate growth by driving deeper penetration of existing SKUs across current customers Unlock new customer relationships by leveraging the breadth and momentum of the existing product portfolio ▪ Convert non-pita retailers into private label partners Drive innovation through the development of new products across formats, bases, and flavors ▪ Win share in established baked snack accounts through differentiated offering ▪ Leverage flexible production capabilities to act as the go-to baked snack solutions provider for customers ▪ Wallet share and SKU expansion within existing customers in Po ue ▪ Scalable cross-sell opportunities ▪ SKU expansion through product innovation in emerging categories Bl ▪ Strategic alignment with high growth customers t 1 ▪ Identify and execute on additional co-man opportunities Strategic initiatives with potential to outperform growth target ▪ Utilize Handi Foods-owned SnackHappy ‘test’ brand to validate innovative products with customers ▪ Expand into identified adjacent snack categories, an incremental ~$10B USD market opportunity ▪ Attractive inorganic growth opportunities 27 t in ue Po Strategic Growth Plan Bl 3 Attractive Pipeline of Near-Term Growth Initiatives Net Sales ($ in CAD) 17% CAGR t 4 $ 2 1 $200M+ Po $90M in 3 Organic Growth 2 1 Strategic Growth Through New Customer Relationships 4 3 New Product Development Leveraging Existing Manufacturing Assets Bl Expand Wallet Share with Existing Customers Through Increased Distribution and Cross-Sell Opportunities Upside FY2030P ue FY2025A Upside to Plan ▪ Activation of SnackHappy, HandiOwned Brand at Retail ▪ Adjacent Baked Snack Category Expansion ▪ M&A Opportunities 29 Longstanding Blue-Chip Partnerships Are Poised to Drive Significant Growth (Top 10 Customers Gross Sales from Existing SKUs, $ CAD in millions) Long-Term Sales Growth Enabled by Established Strategic Alignment(1) t 31% CAGR 14% CAGR $145.0 As Pretzelized’s exclusive supplier, Handi Foods is uniquely positioned to scale alongside its customer’s rapid expansion into new formats, retailers, and geographies $16.3 FY2025A FY2030P Po 40% CAGR Handi Foods to benefit from online channel growth as Amazon expands their Aplenty brand from AmazonFresh (~64 locations) to the Amazon.com online platform, exponentially expanding availability 14% CAGR $76.7 $63.7 in 1 Significant Runway to Increase Wallet Share with Existing Customers and SKUs $6.5 $1.2 FY2025A FY2030P 5% CAGR As the long-term sole source provider of the high-volume Pita Bites Crackers (one of the leading unit-sales items in Trader Joe’s stores), Handi Foods will enjoy continued consistent growth behind Trader Joe’s loyal following ue $58.6 Bl Handi Foods provides the mini-flatbread ingredient to support MapleLeaf Foods’ expansion of their Lunchmate meal kit program FY2023A FY2025A Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. FY2030P Handi Foods is well-positioned to support Aldi’s aggressive store expansion and rising foot traffic, while continuing to drive trial of new products across the network $16.3 $21.2 FY2025A FY2030P 41% CAGR $2.5 $0.5 FY2025A FY2030P 13% CAGR $8.1 FY2025A $15.1 FY2030P 30 Recent and Near-Term Existing Product Opportunities with Current Customers t ✓ Sourdough ✓ Pita Chips ✓ Brioche ✓ Potato-based in ▪ Handi Foods hosts regular on-premise innovation sessions with Loblaws at which all new product ideas are presented and analyzed ▪ At the most recent session (June 2025) Loblaws expressed significant interest in a wide-range of new products ▪ Handi Foods has a history of deep engagement with Aldi on product tests and new product ideas (currently in-test on 2 mixed-pack items) ▪ Wegmans is proceeding with the launch of a Sourdough SKU and an extension of their 10oz offering with addition of a Parmesan Garlic SKU in Summer/Fall 2026 ✓ Sourdough ✓ Brioche ✓ Sticks ue Po ▪ Handi Foods has been selected to be the baked chip supplier of choice for 7 of 23 Aldi warehouses – shipments to begin March 2026 ✓ Sourdough ✓ Pretzel Chips ✓ Pita Chips ✓ Brioche ▪ At the most recent innovation session (June 2025) Walmart Canada was eager to pursue next steps on a potato-based crisp offering following the success of the Mondelez Crispers product in Canada ▪ Handi Foods is attempting to expand offering to Walmart U.S. based on demonstrated success at Walmart Canada $8.0M in FY2030P Cross-Sell Opportunities ✓ Pita Chips ✓ Naan ✓ Brioche Bl 1 Existing Customer Momentum Unlocks Scalable Cross-Sell Opportunities ▪ Handi Foods has a deep relationship with Lidl dating back to their initial entry into the U.S. in 2017 that has expanded into a multi-SKU program as well as access to product tests ▪ Handi Foods is currently in discussion to become their supplier of choice for Pita Chips ✓ Pita Chips ✓ Brioche 31 1 Long-Term Growth Partnership with Pretzelized Track Record of Innovation and Volume Growth, Paving the Way for Scaled Success (Pretzelized KG Volume) Format Innovation #2 0.4M KGs FY2024A 2 Club Pack SKUs 1.9M KGs FY2025A ▪ ▪ Upside opportunity Product offering that doesn’t exist in the market today – highly confidential in 6 Pretzel Chip and Cracker SKUs Launch: March/April 2026 Potential for ~$1M projected 2030P Gross Sales Transformative Innovation #3 Launch: CY1Q/2Q’26 Numerous varieties currently in testing $4M+ projected 2030P Gross Sales 2.8M KGs FY2026E 7.2M KGs 8.2M KGs FY2029P FY2030P Po ▪ ▪ ▪ ▪ ▪ t Format Innovation #1 5.5M KGs 4.2M KGs FY2027P FY2028P ▪ First Order: Shipped CY1Q’24 ▪ Exclusive Contract: Long-term, sole source agreement ▪ Collaborative Innovation Partner: Numerous products brought to market with robust innovation pipeline ue Handi Foods is the Long-Term Partner of Choice Proven Speed-to-Market: 30+ SKUs launched in under 18 months + Bl Capacity & Operational Excellence: Scalable production with guaranteed capacity Trusted & Collaborative: Extensive R&D partnership “Every product we have launched has been on time… we move very quickly, we change everything all the time - and for a manufacturer to keep up with us is almost impossible but Handi has done that flawlessly.” - Sam Kestenbaum, CEO of Pretzelized Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. “I will honestly say that Handi is the single best supplier I have ever worked with from a manufacturer standpoint.” - Sam Kestenbaum, CEO of Pretzelized 32 Expanding Pretzelized Customer Base & Distribution Footprint Pretzelized's Momentum in Retail… ~3.0x Intentional Pretzelized Distribution Expansion with Massive Whitespace Available in Key Accounts 4.0 LTM September 2025 ✓ Store perimeter more conducive to impulsive purchase with high-margin products ✓ Shoppers in deli spend more per trip, supporting premium positioning (% All Commodity Volume)(1) ~2.5x Emerging Distribution 20.6% ✓ Reinforces better-for-you and freshness cues ue 7.6% 2024 Purposeful Positioning in Deli Po Early Distribution 1.4 2024 …and Attractive In-Store Placement t (Units in Millions, Volume Sold at Retail)(1) …Growing Customer Base… in 1 LTM September 2025 Leading Mass Market Retailer Bl Leading New Snack Brand in Deli Section On the Horizon ✓ Cross-merchandising opportunities with complementary products (hummus, tzatziki) Steadily Climbing ACVs with Accelerating Velocity Future Expansion Delivered Biggest Quarter within the Natural Channel with $4.2M+ in Sales(2) Note: Financials in $CAD unless otherwise noted. (1) Nielsen data ended L52 weeks September 20, 2025. Annual figures as of year end December 28. (2) Spins data ended September 7, 2025. $ in USD. 33 Numerous Avenues for Growth with Existing Customers Handi Foods is Well-Positioned to Expand Wallet Share and Pursue New Retail and CPG Opportunities in North America Market Opportunity Pita Crackers Pita Chip Naan Chip / Cracker ~$480M ~$95M Sourdough Chip / Corn Flour Chip / Cracker Cracker ~$90M Potato Chip / Cracker Brioche Chip / Cracker “I am particularly interested in exploring sourdough crackers with Handi Foods.” —BD Manager, Customer in Retailers t (Handi Foods Retailer Customers: Current Private Label Baked Snack Offerings) ~$80M ~$60M ~$90M Po “We maintain an openness to partnership with Handi Foods on new products and we are open to exploring brioche or sourdough.” —Dir. of Contract Manufacturing, Customer ue “We have been actively considering the naan category due to its increasing customer requests. The entire naan category, whether it’s naan dippers with more fluffiness or naan crackers, is experiencing tremendous consumer demand.” —BD Manager, Customer Bl 1 Existing Private Label Offering: Handi Foods Customer Existing Private Label Offering: Other Supplier No Private Label Offering ▪ ~$50M-$60M annual pita snack opportunity within current private label customers who do not manufacture pita chips or crackers with Handi Foods today ▪ Current customers present ample whitespace across Handi Foods’ emerging categories: naan, sourdough, corn flour, potato flour, and brioche. These categories present a combined ~$365M-$415M in total 3-year market potential for Handi Foods to capitalize on, across customers and noncustomers Source: Retailer websites and third-party market study, October 2025. $ USD in Millions. 34 2 Meaningful Whitespace with New Customers t Significant Interest from Blue-Chip Customers Creating Near Term Opportunities Private Label Customers Opportunity Overview: Convert Large Non-Pita Retailers into Private Label Partners ✓ Intends to launch 2 Brioche Cracker SKUs as part of 2027 shelf reset (FY2027P) Po ✓ Represents early success post Handi Foods recent change in broker representation Expand Offering Through Existing Co-Man Relationships Aggressively pursue significant regional and channel retailers with full product portfolio Re-Activated Pursuit of New Quality Co-Man Programs and Early Engagement with Start-Ups ue ✓ Launching 2 Private Label Naan Crackers SKUs, confirmed for shipment beginning March 2026 Co-Man Customers in Case Study: Emerging Start-Ups Leverage Budgeted Co-Man-Specific Sales Resources $2,771 $1,848 $924 $3,326 $3,492 FY2026E FY2027P FY2028P FY2029P FY2030P Note: July 31 fiscal year end, Financials in $CAD unless otherwise noted. (1) Represents March 2026 through July 2026. FY2027P $2,548 FY2028P FY2029P FY2030P $4,125 (Gross Sales, $ in 000s) $4,661 $1,383 (1) $8,310 (Gross Sales, $ in 000s) Bl (Gross Sales, $ in 000s) $2,815 $1,625 $633 FY2027P FY2028P FY2029P FY2030P 35 Accelerating Growth Fueled by Continuous Innovation Phase of Development (Handi Foods) Sticks Product range developed and customer presentations in progress ~$50M Sourdough Emerging product with active customers ~$80M - $90M Brioche Emerging product – in development ~$80M - $90M New Bases New Inclusions Functional Formats & Pairings in Seed Based Snacks Almond FlourBased Snacks Protein Avocado Oil ~$15M - $30M ~$190M - $240M ~$130M - $180M ~$15M - $30M ~$15M - $30M ~15% - 20% Category CAGR(2) Category Size(1) ~2% - 7% Category Size(1) ~30% - 40% Category Size(1) ~5% - 10% ✓ Aligned with indemand global flavor trends in a convenient, on-the-go format Bl ~25% - 30% Category CAGR(2) Category Size(1) Naan Dippers ue Veggie FlourBased Snacks Category Size(1) Estimated Market Opportunity(1) t Product Innovation Po 3 Category CAGR(2) Category CAGR(2) Category CAGR(2) Dip Pairings ✓ Allows bundling of complimentary products with popular dip combinations $14.5M FY2030P New Product Innovation Revenue Opportunity Note: July 31 fiscal year end. (1) Represents total and potential retail dollar opportunity, third-party market study. $ USD in Millions. (2) Represents FY2023A – FY2025A category growth, third-party market study, October 2025. 36 4 Upside Opportunities Cheese Cracker Butter Cracker Sandwich Crackers Wheat Crackers Saltine, Soda & Oyster Crackers Graham Crackers Pretzel Chips Pita Chips/Crackers Crisp Bread/Flatbread Crackers Rice Crackers Bagel Chips All Other (Misc. Crackers, Variety Packs) Total Handi Foods is in discussions with Costco (Canada and U.S.) for a range of products under the SnackHappy brand Bl Retailers can now utilize the SnackHappy brand when introducing new products, giving Handi Foods an accelerated path to market for its innovative products Broad Opportunity to Grow through M&A ✓ Adjacent Category Diversification ✓ Infrastructure and Distribution Expansion ✓ Core Category Consolidation (1) Third-party market study, October 2025. “Every year we have several projects ongoing with Handi, and we evaluate them based on their communication and capabilities to produce different varieties… We have never had a problem with Handi Foods.” in H-E-B has agreed to utilize the SnackHappy brand as a “test” for new product innovations from Handi Foods ~$3,070M ~$1,760M ~$1,260M ~$900M ~$710M ~$550M ~$490M ~$480M ~$170M ~$110M ~$70M ue Handi Foods’ SnackHappy brand is designed to act as a ‘test’ brand whereby retailers can assess product success with minimal commitment, time and investment risk CY2025 Sales ($USD)(1) Category Po Historically, while retailers are eager to accelerate private label innovation, they tend to seek branded validation of new products prior to committing the resources and time to private label entry Adjacent Baked Snack Category Expansion t Acceleration of Handi Owned SnackHappy Brand at Retail ($USD, Est. EBITDA) $15M Salty Snacks PL / Co-Manufacturer $15M BFY Snack PL / Co-Manufacturer ~$2,400M ~$11,970M Illustrative M&A Targets $30M $20M Salty Snacks PL / Co-Manufacturer Sweet Baked Goods PL / CoManufacturer —Sourcing Manager, Customer “Handi Foods is hungry for more business, and they have strong R&D capabilities. I am not currently in the market for a pita chip but when I am I will go with Handi Foods.” —Director of Private Brands, NonCustomer $30M Salty Snacks PL / Co-Manufacturer $40M Transformational Salty Snacks PL / Co-Manufacturer 37 t in Po ue Market Opportunity Bl 4 Handi Foods Operates in the Sizeable Baked Snack Market (2025 | U.S. & Canada | Retail Dollars) U.S. & Canada Multi-Outlet Snack Food Spend ($ in USD) (Retail Dollars) t Handi Foods Market Opportunity ($ in USD) in ~2% CAGR Total Snack Opportunity: $69B Total Baked Snack Opportunity: $12B Po 2025E The overall snacking market has demonstrated resiliency / stability amid uncertain economic conditions and shifting consumer preferences U.S. & Canada Baked Snack Opportunity ($ in USD) (Retail Dollars) ~2% CAGR $11.4B $12.0B 2022A–2025E CAGR $9.5B $9.9B ~1% $1.9B $2.1B ~4% 2022A 2025E Bl Inclusive of bagel, pita, pretzel chips, and crackers 2022A ue Comprised of cookies, crackers, potato chips, bars, tortilla chips, nuts/seeds, pretzels, and more $69B $68B $65B Private Label Name Brand Source: Nielsen Byzzer Data and third-party market study, October 2025. Note: Total Salty Snack Spend excludes spend on traditional tortilla and potato chips and some non-chip/cracker baked snacks not included in Nielsen dataset for bagel chip/pretzel chip/pita chip and crackers. 39 Handi Foods is the Leader in Private Label Pita Snacking (Near-Term Market Opportunity for Handi Foods - Current Core and Emerging Product Offerings | U.S. & Canda) t Significant Attainable Near-Term Opportunity via Current Pita Cracker & Chip Offering ($ in USD) in ~$1,925M–$2,245M ~$610M– $820M ~$1,315M–$1,425M Po ~$365M– $415M ~$480M– $500M ~$470M– $510M Pretzel Chips ~5–6% CAGR ~$555M–$595M ~$470M–$510M ~$125M–$145M 2025E Current Core and In-Development Product Opportunity New Bases, Inclusions, Pairings & Formats Core and Expansion Market Opportunity Private Label Leads the Way Name Brands ~4% CAGR ✓ Handi Foods holds ~60% share of private label pita cracker & pita chip sales in the U.S. & Canada, positioning Handi Foods well for future growth Bl ~$385M–$405M ~$345M–$365M In-Development Products (Naan, Sourdough, Corn-flour, Potato-flour, Brioche) ue Pita Crackers & Chips ~$170M–$190M ✓ Pita snack alignment to sustained better-for-you trends and growing consumer interest in global/international foods are expected to drive its accelerated growth Private Label ~10%–11% CAGR relative to the baked snack market at-large 2028P Source: Nielsen Byzzer Data and third-party market study, October 2025. Note: Total Baked Salty Snack Spend excludes spend on traditional tortilla and potato chips and some non-chip/cracker baked snacks not included in Nielsen dataset for bagel chip/pretzel chip/pita chip and crackers. $ USD. 40 Pretzel Chips Provide a Massive Growth Segment for Handi Foods (Near-Term Market Opportunity for Handi Foods - Current Core and Emerging Product Offerings | U.S. & Canda) t Significant Attainable Near-Term Opportunity via Current Pretzel Chip Offering ($ in USD) in ~$1,925M–$2,245M ~$610M– $820M ~$1,315M–$1,425M Po ~$365M– $415M ~$480M– $500M ~$470M– $510M Pretzel Chips ~2–3% CAGR 2025E New Bases, Inclusions, Pairings & Formats Core and Expansion Market Opportunity Name Brands ~1% CAGR ✓ Pretzelized, Handi Foods’ pretzel chip customer, currently represents ~$50M–$60M(1) in total U.S. retail dollar sales (2025E) Bl ~$410M–$420M ~$80M–$90M Current Core and In-Development Product Opportunity Pretzelized’s Contracted Sole Source Supplier ~$510M–$530M ~$480M–$500M ~$400M–$410M In-Development Products (Naan, Sourdough, Corn-flour, Potato-flour, Brioche) ue Pita Crackers & Chips ~$100M–$110M 2028P Private Label ~7%–8% CAGR ✓ Handi Foods’ gross sales from Pretzelized have grown 350%+ from $3.6M CAD in FY2024A to $16.3M CAD in FY2025A ✓ Handi Foods serves as the exclusive supplier to Pretzelized, the fastest-growth pretzel chip brand in the category Source: Nielsen Byzzer Data and third-party market study, October 2025. Note: Total baked snack spend excludes spend on traditional tortilla and potato chips and some non-chip/cracker baked snacks not included in Nielsen dataset for bagel chip/pretzel chip/pita chip and crackers. $ USD. (1) Management estimate across measured and unmeasured channels. 41 Handi Foods has Immediate ‘Right-to-Win’ in ~$2B Core Market with Clear Pathway to Incremental ~$10B Opportunity t Meaningful Opportunity to Unlock Full ~$12B North American Baked Snack Market via Expansion into Adjacent New Product Categories ($ in USD) (Handi Foods Total Market Opportunity Walkup U.S. & Canada | Total and Potential U.S. & Canada Retail Dollar Opportunity) in 4 ~$11,970M Po ~$5,245M– $4,825M 3 ~$4,900M– $4,800M 1 ~$7,145M– $6,725M 2 Pita Crackers & 1 Chips Source: Note: Pretzel Chips 2 ~$2,245M– $1,925M ~$1,425M– $1,315M In-Development 3 Products ~$1.3B – $1.4B opportunity in pita, pretzel chips, and indevelopment baked snack offerings (naan, sourdough, corn flour, potato flour, and brioche) 2 Core & In4 Development Opportunity New Bases, 5 Pairings Inclusions, & Formats Incremental whitespace from innovative bases (veggie flour, almond flour, and seeds), inclusions (protein, avocado oil), functional (chickpea), and formats (naan dippers, scoops, and dip pairings) Core, In6 Development and Expansion Opportunity 3 New Baked 7 Snack Categories Pathway to take advantage of additional baked snack categories including cheese, wheat, oyster, and flatbread crackers Bl 1 ~$480M-$500M ~$610M-$820M ue ~$470M-$510M ~$365M-$415M Handi Foods internal sales data, Nielsen Byzzer data, and third-party market study, October 2025. Numbers may not sum due to rounding. Market opportunity estimates are all in U.S. retail dollars. Handi Foods 8 Term Medium Opportunity 4 Adjacent Baked 9 Snack Categories Total Baked Snack 10 Opportunity Expansion into adjacent categories – including butter, sandwich, graham, and rice crackers, as well as bagel chips – within the ~$12B North American baked snack category 42 Better-For-You Market Momentum Fueled by Consumer Trends Growing Demand for BFY Products Aligns with Handi Foods’ Growth (Percentage of Consumer Web Survey Respondents | Scale of 1–7, 1 is “No Preference”; 7 is “Strong Preference”) 73% 22% 19% 23% 23% 30% 25% 18% Prefer “Better-For-You” Snacks 18% Portfolio Alignment Handi Foods’ baked pita snacks fits squarely within better-for-you trend, with innovation potential in alternative flours, low carb, and high protein 24% 21% 26% 25% 24% ue Overall 66% 16% 17% 7% 3% 6% 2% 4% Ages 30-44 6% 15% 7% 4% 6% Ages 18-29 1: No Preference 2 3 4 Ages 45-59 5 6 10% Ages 60+ 7: Strong Preference Demographic segments (e.g., Millennials) that demonstrate the strongest preference for BFY, are also most inclined to purchase private label products (and the most bullish in their expectations for future private label purchasing) – advantageous for Handi Foods in serving the cross-section of BFY and private label products Source: Third-party market study, October 2025. Consumer Preference Leverage The segments driving BFY growth also favor private label, giving Handi Foods a unique advantage in capturing this overlap 2% Bl 2% 6% 6% 26% 22% 19% 16% 72% in 67% Po 70% t Better-For-You Preference Permeates Across Consumer Cohorts Market Growth Tailwinds BFY snacking is expanding overall, fueled by demand for clean-label ingredients (baked, multigrain) and functional benefits (protein, fiber) 43 Meaningful Whitespace for the U.S. & Canadian Private Label Markets to Mature The U.S. and Canada are Underpenetrated Relative to Other Countries(1) 52% UK 46% Germany Netherlands 34% France 33% Italy 31% Consumer perception of private label now in line with name brands on quality and variety, prompting greater adoption across consumer segments Norway 18% Private Label Continues to Capture Market Share in the North American Snacking Category(2) Bl 19% 17% Private Label Penetration in the U.S. & Canada Lags Mature Markets, Leaving Significant Headroom for Expansion (1) (2) Rising private label demand reinforces Handi Foods’ position as strategic partner to retailers, delivering products that match or exceed brand-quality standards while providing superior value 25% Canada U.S. Advantage ue Sweden The Po 37% in Switzerland Growing Preference For Private Label Products t (Percentage of Private Label Value Share of Global Retail by Country, 2023) Third-party market study, October 2025. Nielsen data as of September 20, 2025. Volume measured in equivalized units as a function of weight - this metric normalizes the sales volume of different products into a single, standard unit of measure, which is relevant to a specific product category. Represents calendar year end figures. 15.2% CY2021A 15.7% CY2022A 16.2% 16.3% CY2023A CY2024A 44 Positive Consumer Sentiment Primes Private Label Products for Growth in the U.S. & Canada Lowest t Highest S Korea Turkey Romania Poland Greece China Chile Singapore Colombia Canada Italy in Australia Mexico Po Brazil India Saudi Arabia France S Africa Indonesia U.S. Thailand UK Germany 77% 77% 75% 75% 74% 72% 72% 72% 71% 71% 70% 69% 69% 69% 69% 68% 68% 67% 64% 62% 62% 60% 56% 54% 52% Egypt 72% say private labels are good alternatives to name brands Private Label is Going Mainstream Spain U.S. Consumers Private Label Value Perception by Country Highest S Korea Turkey Romania Greece Poland Chile Colombia China Australia Saudi Arabia Singapore Italy Mexico France Indonesia Canada Brazil ue India S Africa U.S. Thailand Germany Spain UK 80% 77% 76% 76% 75% 75% 75% 75% 72% 72% 71% 71% 70% 70% 70% 69% 69% 69% 64% 63% 60% 59% 59% 55% 46% Egypt 75% say private labels are good value for the money Lowest Lowest Source: Nielsen US Consumer Outlook 2025 and third-party market study, October 2025. Poland France Greece Germany Italy Canada Turkey UK China Romania Australia Chile S Korea Colombia U.S. Spain Singapore Mexico S Africa Brazil Indonesia Saudi Arabia India 78% 77% 71% 71% 68% 66% 65% 64% 63% 64% 59% 59% 57% 56% 55% 55% 53% 52% 52% 51% 51% 50% 50% 49% 49% Thailand say they would buy more private label if a larger variety were available Highest Egypt 59% Bl Private Label Demand by Country 45 Handi Foods is Outperforming Branded Pita Snacks Commentary t Handi Foods Volume CAGR: 19% CAGR: 15% 15.8 13.1 8.0 8.9 FY2021A FY2022A FY2023A FY2024A FY2025A FY2026E 21.1 18.6 Po 7.4 10.4 5.1 6.4 FY2027P FY2028P FY2029P FY2030P CAGR: (6%) 32.0 27.5 27.2 27.0 CY2023 CY2024 Sep. 2025 LTM Bl 34.6 CY2021 CY2022 ✓ Well-positioned to capitalize on private label tailwinds, gaining share from branded players like Stacy’s through long-term and entrenched partnerships with leading private label grocers such as Trader Joe’s, Aldi, and Lidl ue Stacy’s Pita Chips Volume(1) (Equivalized Units in Millions) ✓ Handi Foods achieved a robust 15% volume CAGR, increasing from 5.1M KGs in FY2021A to 8.9M KGs in FY2025A. Growth was driven by SKU expansion within existing top customers and the onboarding of new private label and co-manufacturing relationships in (Volume, KGs in Millions) Note: July 31 fiscal year end. (1) Nielsen data as of September 20th, 2025. Volume measured in equivalized units as a function of weight - this metric normalizes the sales volume of different products into a single, standard unit of measure, which is relevant to a specific product category. Represents calendar year end figures. ✓ Poised to benefit from its sole source partnership with high-growth brands such as Pretzelized, which are gaining market share through its differentiated product and innovative offerings 46 t in Po ue Company Overview Bl 5 Advantaged Market Position Driven by Coveted Capabilities and Go-to-Market Strategy End-to-End Value-Added Solutions Provider Diverse and Attractive Business Mix Product t Segment % of Gross Sales (FY2025A) in % of Gross Sales (FY2025A) 2% 17% 31% Total FY2025A Gross Sales from Sole Source Customers Sole Source Supplier ~8 Years Long-Term Blue-Chip and High-Growth Customer Base Invested in Capacity(2) 35 New SKUs since FY2021A 150K+ Sq. Ft. Across Two Facilities Brand Partners Private Label Channel Other ue $65M+ 69% % of Gross Sales (FY2025A) State-of-the-Art, Automated Manufacturing 10% 14% Pretzel Chips 60% Chips Crackers Geography % of Gross Sales (FY2025A) 17% 41% Proven R&D / Innovation Track Record Bl Average Top 10 Customer Tenure(1) 21% Po 91%+ 35% Efficient, Well-Capitalized Operations Position Handi Foods for Margin Growth Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. (1) FY2025A. (2) Represents investment in capital assets from FY2021A (August 2020) through CY1Q'26. Mass Club Private Label Grocer Grocery 83% Canada U.S. 48 Outsized Growth and Diversification of the Product Portfolio Began pretzel chip production in February 2024, growing sales +350% from FY2024A to FY2025A 3% 30% $90.8M 19% CAGR(1) Pretzel Chips $1.4M 3% Puffs & Bits $19.4M 15% Chips 21% Crackers ue 2% 17% NA $16.3M $74.5M 67% $37.4M FY2025A $1.3M 60% Puffs & Bits Chips Pretzel Crackers $11.1M $53.7M Bl 21% 25% CAGR Po FY2021A FY2021A – FY2025A CAGR t % of Gross Sales Gross Sales in Product Lineup $25.0M FY2021A Crackers Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. NA denotes ‘not applicable’. (1) Represents growth of existing FY2021A products. FY2025A Chips Puffs & Bits Pretzel Chips 49 Diverse Product Portfolio Across In-Demand Shapes, Formats, and Textures Chips Private Label Grocers   Club  Grocery  Mass  Pretzel Chip Puffs & Bits    Po Distribution Channel in t Crackers       ue Selected Products Gross Sales (FY2025A) % of Gross Sales (FY2025A) Bl Representative Customers Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. $53.7M $19.4M $16.3M $1.4M 60% 21% 17% 2% 50 Robust Suite of Baked, BFY Products Volume (KGs) Active Customer(s) Crackers Active SKUs Active SKUs 21% 24 75 79% Po 5.2M Brand Partners Chips Private Label 100% 1.8M 14 Total FY2025A Volume Private Label ue Pretzel Chip 8.9M+ KGs 38 Brand Partners 100% 1.9M 1 28 Bl Brand Partners Puffs & Bits 150+ PL / Brand Mix(2) in Product t Industry Leading Assortment of Highly Customizable Products(1) Private Label Samples Developed Annually 33% 0.2M 9 10 Brand Partners Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. (1) FY2025A. 100+ 67% Private Label 51 Expertise in a Wide Variety of Packaging Formats ✓ Typical for crackers ✓ Typical for chips Selected Products ✓ Master case packaging ✓ Versatile form ✓ Unique to 3 customers’ specialty orders(1) 90+ 55+ 25+ 4+ Unique SKUs Unique SKUs Unique SKUs Bl SKU Count ✓ Resealable branded bag t ✓ Sealed branded bag Po ✓ Sealed bag in a branded box Bulk ue Description Form-Seal Bag in Bag in Box Stand-Up Resealable Bag Unique SKUs Note: Fiscal year end for the company is July 31. (1) Bulk Customers include Maple Leaf Foods, Whole Grains Inc., and VegPro International. 52 Nimble R&D Process to Fast-Follow Trends History of Innovation with Clearly Defined Go-Forward Opportunities 2 Fast-Adapt Innovation in Quickly Growing Categories Artisanal Chips in FY16 Skilled R&D team designs products that can be quickly implemented into existing operations Handi Foods continues to develop its product pipeline and development of an emerging halo brand, SnackHappy FY17 Round & Square Chips FY19 Pita Bits FY20 Naan Crackers FY24 Pretzel Chips FY25/26 Rings, Sticks, Sourdough Bl 3 Real-Time Data Monitoring to Identify Emerging Trends Pita Crackers & Puffs ue Multinational CPGs Market Reaction to Multinational CPG Product Launch FY12 Po 1 Customer requests and emerging consumer trends are monitored using syndicated and proprietary data research t Fast-Adapt Model Drives Efficient Innovation Expedites Time-to-Shelf by Translating Innovation from Multinational CPGs into Private Label Launches Using Real-Time Market Intel Handi Foods’ Nimble and Flexible Manufacturing Allows the Company to Swiftly Implement New Innovations into Production FY27+ ✓ Potato-Based ✓ Corn-Based ✓ Brioche Crackers ✓ Functional Product ✓ On-Trend Seasonings ✓ SnackHappy Brand Crackers Formats Note: Fiscal year end for the company is July 31. Crackers 53 t Sophisticated Innovation Process from Start to Finish Opportunity Identification Concept Development Commercialization ▪ Customer request or internal innovation ▪ Cross-functional kickoff & project timeline ▪ Opportunity analysis: volume, value, feasibility ▪ Benchtop samples & packaging format development ▪ Artwork development and approval (internal & external) ▪ Purchase orders placed for ingredients and packaging ▪ Systems setup, final capex approval, and BOM completion ▪ Production run with quality controls in ▪ Review actuals vs BU: revenue, margin, volumes ▪ Analyze complexity Po ▪ Plant trials with internal & external sample approvals Post-Launch Analysis ▪ Final packaging sign-off and forecast entry ▪ Micro/allergen hold (if applicable) ▪ Capture lessons learned for future projects ▪ Shipment to customer ue ▪ Input from relevant cross-functional teams Launch ▪ Project costing and P&L creation 1 Bl Product Development Process Bench-Top Process R&D lab with mixers, cutters, ovens, etc.; kitchen-scale proxy for commercial production. Samples developed as concepts for internal & external review 2 Line Trial Validation of bench-top process using small batches through the full production process; confirms scalability 3 Pre-Production Full production run; bill of materials locked, usage and costing understood; product approved for launch 4 Full-Scale Production Commercial launch-ready production 54 Unmatched Bluechip Innovation Expertise Team Overview John Dobie in Vice President, Operations Director of R&D Po Handi Foods’ R&D and Innovation team brings together food scientists, technicians, and experienced professionals with deep expertise in flavors, ingredients, product development, and testing to deliver tailored products to its customers t Qualified and Proven R&D Team (4+ Years with Handi Foods) R&D Employee 1 Net Sales by Innovation Cohort ($ in Millions, CAD) 54.9 58.8 57.1 FY23A FY24A 6.6 37.4 43.5 FY21A FY22A FY2021A and Prior % from New Innovation(1) $90.8 3.5 15.9 2.4 11.9 FY2022A 13.1% FY2023A 24.2% Olde York Potato Chips Key Focus Areas: Bl $37.4 $72.4 3.2 14.3 $79.9 4.6 3.4 13.1 ue $50.0 (3+ Years with Handi Foods) FY25A FY2024A 26.5% FY2025A 37.1% Note: Fiscal year end for the company is July 31. (1) Represents % of FY gross sales. Represents SKUs introduced after FY2021A. Technology & Innovation Scalable Supply & Infrastructure Customer Insights 55 Case Study: First-Ever Innovation – Pretzelized t Excellence in Innovation Leading to a Deep Customer Relationship ▪ Pretzelized is on a mission to “’Pretzelize’ America’s Favorite Snacks” Prior Projects in ▪ Pretzelized was founded by prolific snack innovators Jason Cohen and Sam Kestenbaum Po ▪ Handi Foods and Pretzelized worked collaboratively to commercialize concept in less than 18 months with 30+ SKUs being produced 6 Pretzel Chips and Crackers SKUs 4 Additional SKUs ▪ Pretzelized has achieved significant distribution in grocery, club, and is just getting started Handi Foods’ Partnership with Pretzelized ue Pretzelized Projected Revenue Growth(1) Initial discussions with founders in 2018 CAGR: 31% Bl Long-term sole source agreement FY26E FY27P Note: Fiscal year end for the company is July 31. (1) Represents Handi Foods gross sales to Pretzelized. FY28P FY29P FY30P Confidential, transformative product innovation underway Mar - Jun 2024 Jun 2024 4 Additional SKUs Jul - Dec 2024 11 Additional SKUs Jan - May 2025 3 Additional SKUs Jun - Jul 2025 Reapproached in 2022 once capacity became available at Handi Foods First order shipped March 2024 FY25A Introduced Pretzel Chip Snackers Mar 2024 56 Case Study: ‘Snacking Done Right’ – H-E-B t Collaborative Relationship Resulting in a Broad and Entrenched Private Label Program in ▪ Excellent example of the Handi Foods ‘Snacking Done Right’ go-to-market proposition in action ▪ 15+ year relationship with H-E-B expanded in 2019 with award of pita chips business, now the broadest category offering in the market Po ▪ Proven track record meeting H-E-B’s rigorous standards supported by entrenched cross-functional relationships across sales, QA, R&D, operations, and service ▪ Pipeline expansion with CY Q1’26 test launch of three Pita Sticks SKUs under SnackHappy brand with planned conversion to H-E-B private label CAGR: 23% Mature and Integrated Relationship ue H-E-B Historical and Projected Performance(1) H-E-B High Standards Bl Handi Foods’ MultiFunctional Connectivity and Focus FY19A FY20A FY21A FY22A FY23A FY24A FY25A FY26E Note: Fiscal year end for the company is July 31. (1) Represents Handi Foods gross sales to H-E-B. 2 Central Market Crackers SKUs Snacking Done Right ▪ Quality product ▪ Responsible pricing ▪ Ease of Development ▪ Multi-functional customer service Mature, Collaborative, and Rewarding Business Relationship Won Pita Chips Business (9 SKUs) 2010 Mar 2019 2 Convenience SKUs Launched Mar 2020 3 Sweet SKUs Launched Mar 2021 Moved H-E-B Production to Newkirk Sep 2025 3 Sticks Launching Q1 2026 57 Gross Revenue by Channel(1) Grocery FY2025A 41% Grocery Private Label Grocers Po 35% Private Label Grocers Net Revenue by Customer Type(1) Brand Grocery in 14% Private Label Grocers Whitespace t 10% Brand(1) 29% 30% 12% Mass 31% FY2025A 69% Private Label 5% ue Club Private Label(1) Club Bl Mass Handi Foods is Aligned with Leading Retailers Across North America 10% 14% 91% of Total FY2025A Gross Sales are Generated from Customers where Handi Foods is the Sole Source Supplier Note: Fiscal year end for the company is July 31. (1) Percentages represent % of total FY2025A gross sales. (2) Represents Handi Foods’ developing categories’ 3-year potential. 58 Entrenched Relationships with Top Customers Customer Geography Segment Channel Product Offering Tenure Customer 1 U.S. Private Label Private Label Grocers Cracker 10+ Customer 2 U.S. Brand Club / Grocery Pretzel Chips Customer 3 U.S. Private Label Grocery Pressed Chips, Crackers, Puffs Customer 4 Canada Brand Club / Grocery Customer 5 U.S. Private Label Private Label Grocers Customer 6 U.S. Private Label Mass Private Label Customer 8 Canada Private Label Customer 9 U.S. Private Label Customer 10 U.S. Private Label Top 10 Total Gross Sales All Other Total Gross Sales Note: Fiscal year end for the company is July 31. (1) Represents FY2025A. 18.0% 2 $16.3 18.0% 10+ $9.9 10.9% in Top 10 Customers Gross Sales CAGR (FY2023A – FY2025A) 77 Po Crackers 10+ $8.7 9.6% Crackers 10+ $8.1 8.9% Unpressed Chips 5+ $5.9 6.5% Grocery Pressed Chips 5+ $3.1 3.4% Grocery Crackers, Bits 15+ $2.9 3.2% Private Label Grocer Crackers 5+ $2.7 3.0% Grocery 14.4% t $16.3 ue U.S. % of FY25A Gross Sales Bl Customer 7 FY25A Gross Sales ($M)(1) Crackers 5+ $2.7 3.0% $76.6 84.4% $14.2 15.6% $90.8 100% Unique SKUs with Top 10 Customers ~8 Years Average Tenure for Top 10 Customers Meaningful Relationships Longstanding, Direct, Top-to-Top Relationships with Top Customers 59 t in Po ue Operational Excellence Bl 6 Facilities Overview Norelco Status 15 Newkirk Ct. Brampton, ON ▪ BRC AA accredited Address Lease expires Sep 2053 ▪ 26 shipping / receiving doors Status ▪ 3 high-capacity lines(1) Square Footage 46,000 sq. ft. ▪ Room for 2 additional lines Production Lines L3, L4, and L5 ▪ 40-foot ceilings Utilization (FY25A) 64% Inclusive of 2 x 10-year extensions 108,000 sq. ft. Production Lines L6, L7, and L8 (CY1Q’26) Utilization (FY25A) 58% ABILITY TO PRODUCE SKUs ACROSS VERSATILE LINES ▪ BRC AA+ accredited Lease expires Sep 2037 ▪ 4 shipping / receiving doors ▪ 3 production lines (incl. 2 high-capacity lines) ▪ 28-foot ceilings Inclusive of 2 x 5-year extensions Bl Square Footage 190 Norelco Dr. Toronto, ON ue Address Po in t Newkirk AVAILABLE CAPACITY TO SUPPORT FUTURE GROWTH (1) Includes the third, high-capacity line (L8) to be installed in CY1Q’26. RECENT MEANINGFUL INVESTMENTS ACROSS FACILITIES MODERN, HIGHLYAUTOMATED OPERATION 61 Well-Invested Facilities with Numerous High-Capacity Lines Line 5 Line 6 Line 7 Norelco Norelco Norelco Newkirk Newkirk Newkirk      FY2024 FY2024 CYQ1’26           High-Capacity Line FY2014 FY2021 FY2022     Bag in Box     Stand-Up Resealable Bag  Form-Seal Bag  Crackers Chips Puffs & Bits Formats Production Capacity (KGs)(1) 1 Six Production Lines Across Two Facilities Five modern high-capacity lines installed within the last five years, enabling efficient, large-scale manufacturing 1.8M 2   ue Pretzel Chips      3.6M 3.6M 4.0M 4.0M 4.0M FY2026E Production Capacity: 15.4 Million KGs Based on continuous 24-hour operations, structured around two 12-hour shifts, 5 days per week 3 FY2026E Utilization 65%+ Significant capacity to support near-term volume growth without additional infrastructure investment Bl Products   **    Po Year Installed t Line 4 in Plant Line 3 Future Line 8 4 Line 8 Commissioned for CY1Q’26 Newly ordered line will further expand capacity, specifically targeted to support continued pretzel chip growth (1) Assumes FY2027P – FY2030P production schedule of two 12-hour shifts, 6 days per week, at current production speed. Includes allowances for changeovers and mechanical downtime. ** Pretzel chip production capabilities would be unlocked with a capex light investment through introduction of an additional cooker. 62 Overview of Handi Foods’ Production Lines Norelco Line 4 Line 5 t Line 3 ▪ Year Installed: FY2022 ▪ Equipment Manufacturer: Reading Bakery Systems ▪ Nameplate Speed: 600 KGs per hour ▪ No. of SKUs: 22 ▪ No. of Flavor Profiles: 12 ▪ Year Installed: FY2021 ▪ Equipment Manufacturer: Reading Bakery Systems ▪ Nameplate Speed: 600 KGs per hour ▪ No. of SKUs: 18 ▪ No. of Flavor Profiles: 7 Po in ▪ Year Installed: FY2014 ▪ Equipment Manufacturer: Sabitech & Lanly ▪ Nameplate Speed: 250 KGs per hour ▪ No. of SKUs: 41 ▪ No. of Flavor Profiles: 25 Line 6 ue Newkirk Line 7 ▪ Year Installed: FY2024 ▪ Equipment Manufacturer: Reading Bakery Systems ▪ Nameplate Speed: 600 KGs per hour ▪ No. of SKUs: 17 ▪ No. of Flavor Profiles: 10 Bl ▪ Year Installed: FY2024 ▪ Equipment Manufacturer: Reading Bakery Systems ▪ Nameplate Speed: 600 KGs per hour ▪ No. of SKUs: 17 ▪ No. of Flavor Profiles: 11 Line 8 Image TBU ▪ Year Installed: CY1Q’26 ▪ Equipment Manufacturer: Reading Bakery Systems ▪ Nameplate Speed: 600 KGs per hour 63 Newkirk Facility Overview Facility Overview Optimized Facility Design Indoor Bulk Silo System Efficient for Ingredient Delivery in t “End State” Design Process Separate Storage Areas for Ingredients and Packaging 3000 KVA Upgrade Capacity to Receive at Both Ends of Building Po Easy Employee Flow to Facilitate 200 Full-Time Employees Oversized QA Lab Facilities to Support 5-Line Operation Year Built Annual Rent Employees(1) Lease Through Brampton, ON 2024 ~$2.8M 84 2053(2) Volume (FY2025A) Total Capacity (KGs) 6.7M+ ▪ Custom-designed bakery from the ground up to optimize manufacturing meeting Handi Foods’ specific product flow and production needs ▪ Transformed a new building shell into a fully customized bakery in under 10 months, launching two high-capacity lines Total Production Crackers ▪ ~$30M of recent capex investments: Bl (KGs in Millions) Snapshot ue Location Seamless Layout and Space Designation 1.7 KGs 3.9M 0.5 KGs 1.8 KGs Chips Pretzel Chips ‒ Line 8 is on track to be installed and begin production in CYQ1’26 with ~4.0M KGs of capacity(3) ▪ Facility has ample room for two additional production lines amounting to ~8.0M KGs of incremental capacity(3) Note: Financials in CAD. Fiscal year end for the company is July 31. (1) Headcount as of August 31, 2025. Includes 82 full-time and 2 part-time employees. (2) Inclusive of two 10-year lease extensions. (3) Assumes FY2027P – FY2030P production schedule of two 12-hour shifts, 6 days per week, at current production speed. Includes allowances for changeovers and mechanical downtime. 64 Norelco Facility Overview Facility Overview Volume by Product t (KGs in Millions) in Decreased utilization with opening of Newkirk facility Crackers Chips Other Po 4.8 KGs 0.1 KGs Year Built Annual Rent Employees(1) Lease Through Toronto, ON 2014 ~$750k 129 2037(2) 4.7 KGs 4.8 KGs 0.1 KGs 1.3 KGs 5.2 KGs ue Location Snapshot 5.4 KGs 0.1 KGs 0.2 KGs 3.5 KGs Bl ▪ Original facility with three production lines , including two high-capacity lines, with the capacity for ~9.1M(3) KGs annually ▪ Facility renovations in 2020 added 6,800 sq. ft. of production space ▪ Additional air flow and heat management investment of $224K deployed in 2024 ▪ Expanded production capabilities with pizza and mini pita products Total Capacity FY2023A FY2024A FY2025A ~7.0 KGs ~7.6 KGs ~7.6 KGs Note: Financials in CAD. Fiscal year end for the company is July 31. (1) Headcount as of August 31, 2025. Includes 121 full-time and 8 part-time employees. (2) Inclusive of two 5-year lease extensions. (3) Assumes FY2027P – FY2030P production schedule of two 12-hour shifts, 6 days per week, at current production speed. Includes allowances for changeovers and mechanical downtime. 65 Unwavering Commitment to Food Safety and Quality Assurance Hazard Analysis and Critical Control Points (HACCP) BRC AA+ and BRC AA certified facilities equipped to produce Kosher and Organic Certified Products in ✓ Allergen Control Programs t Food Safety and Quality Assurance is at the Forefront of Handi Foods’ Operations Qualifications, Registrations, & Licensing Critical Food Safety & Quality Assurance Function Staffed by Experienced Professionals Holding Advanced Degrees in Food Science, Agricultural Chemistry, and Biotechnology, and Chemical Engineering Control Points Zero Certificate of Analysis Review for Raw Materials ue Analysis ✓ Product Recall and Traceability Voluntary or Mandatory Recalls in Company History 13 Visual Checks During Receipt and Mixing Final Product Testing ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ 10 Piece Weight Check Dimension Check Net Weight Check Breakage % Check Metal Detection Bag Seal Testing Salt % Test Moisture Test Sensory Check Quality Assurance Checks Bl Hazard Po ✓ Microbiological Testing Dedicated Quality Assurance Professionals 17 Dedicated Sanitation Professionals Temperature and Weight Checks During Production BRCGS Food Safety (BRC AA Certified) U.S. FDA Registered Health Canada (SFCR License) 66 Deep and Tenured Relationships with High Quality Suppliers and Redundancy Across the Supply Base Type Supplier 1 Canada Ingredients Flour 15+ Supplier 2 Canada Packaging Cartons 15+ Supplier 3 Canada Packaging Corrugate 10+ Supplier 4 Canada Ingredients Oil Supplier 5 Canada Ingredients Supplier 6 Canada Ingredients Supplier 7 Canada Supplier 8 $6.1 18.7% $5.6 17.2% $4.1 12.5% $3.0 9.2% Oil & Conditioners 15+ $1.2 3.7% Seasonings 5+ $1.2 3.6% Packaging Film & Pouches 5+ $1.2 3.6% Canada Packaging Film & Pouches 10+ $1.1 3.4% Supplier 9 U.S. Packaging Corrugate 1 $1.1 3.3% Supplier 10 U.S. All Other Total Purchases Note: Fiscal year end for the company is July 31. (1) Represents FY2025A. Dollars in CAD. Bl Total Top 10 Purchases ue 4 Ingredients 32 Unique Suppliers in FY2025A t Segment % of FY25A Purchases in Geography FY25A Purchases ($M)(1) ~9 Years Average Top 10 Supplier Tenure Po Customer Tenure (Years) Seasonings 4 $1.1 3.2% $25.6 78.4% $7.0 21.6% $32.6 100% ~83% Canadian Sourced Inputs Flexible Supply Chain to Fit the Needs of Handi Foods’ Customers 67 Experienced and Proven Management Team John Dobie VP Operations (7+ Years with Handi Foods) Chief Financial Officer (1+ Years with Handi Foods) 17+ Years Exp. t 17+ Years Exp. Monika Sharma Director of Food Safety & QA (10+ Years with Handi Foods) Nirav Shah Director of R&D (4+ Years with Handi Foods) Sepideh Mahmoudzadeh Director of Procurement (5+ Years with Handi Foods) INCREASED NET SALES BY ~2.5X SINCE FY2021A AND GREW PRODUCTION SPACE TO 154K SQ. FT. WITH THE OPENING OF THE NEWKIRK FACILITY STEADFAST FOCUS ON SALES GROWTH, R&D, AND OPERATIONAL EXCELLENCE Bl HIGHLY EXPERIENCED MANAGEMENT TEAM CLASSICALLY TRAINED AT LEADING BLUE-CHIP CPG COMPANIES Marc Diamant 12+ Years Exp. in President & Chief Executive Officer (7+ Years with Handi Foods) 30+ Years Exp. ue Brian Arbique 30+ Years Exp. Po 40+ Years Exp. 68 Skilled Workforce Fueling Efficient Operations Headcount by Function(1) President & CEO Brian Arbique 1% t 1% in 3% 2% Corporate Organizational Overview 6% 213 Total Employees VP Operations John Dobie 58% Director of Finance Director of R&D 3 Employees 2 Employees 13 Employees QA Supervisor Production Manager Inventory Coordinator 10 Employees Production (123) Operations (62) Quality Assurance (13) Corporate (7) Finance (4) Sales (3) IT Manager 122 Employee 2 Employees Director of Purchasing 5 Year Avg. Tenure(2) Purchasing Analyst Business Development (2) Account Manager Maintenance Manager H&S Manager ▪ 18 Employees CI Manager Non-unionized labor force with no previous attempts or foreseeable plans of unionization ▪ 95% Full-Time / 5% Part-Time ▪ Majority of hourly employees are in-house workers (rather than agency) ▪ The surrounding Brampton, ON area boasts a robust and growing labor force of over 350k workers Bl IT (1) ‘All Hands’ Service Mentality and Multi-Functional Response Drives Exceptional Customer Satisfaction Headcount as of August 31, 2025. Represents average tenure for full-time employees only. Regulatory Affairs Sanitation Manager ue Customer Service (1) (2) Director, FS & QA HR Manager Po 29% CFO Marc Diamant Shipping Manager 9 Employees Demand Planning CONFIDENTIAL | 69 t in Po ue Bl 7 Financial Overview Basis of Financial Presentation Basis of Presentation in t The following financial review summarizes the Company’s financial results for (i) the fiscal years ended July 31, 2023 (FY2023A), July 31, 2024 (FY2024A), and July 31, 2025 (FY2025A); (ii) the forecast for the current year ending July 31, 2026 (FY2026E); and (iii) the projected fiscal years ending July 31, 2027 – 2030 (FY2027P – FY2030P)(1). Po The financial information included herein for the historical periods, unless otherwise noted, are consistent with the Quality of Earnings (“QoE”) report prepared by BDO Canada LLP for the periods beginning with FY2023A through FY2025A. Adjustments were made for non-recurring, extraordinary and certain pro forma items in order to provide a more accurate depiction of the Company’s normalized operating performance. These adjustments are explained on the EBITDA Adjustment Summary pages. ue Projections for FY2026E – FY2030P are based upon present factors influencing the Company’s business and future plans developed by Management. Assumptions regarding future levels of revenue and profits are forward-looking and do not and cannot take into account such factors as unforeseen changes in the market, entry into the market by new competitors, and other risks inherent to the business. Bl The external financial statements were audited by KPMG LLP ("External Accountant”) and prepared in accordance with Canadian accounting standards for private enterprises ("ASPE”). The audit reports for both fiscal periods stated that there were no issues identified by the External Accountant which would indicate that the financial statements were not fairly presented in accordance with ASPE. Unless otherwise noted, all monetary amounts are presented in Canadian dollars. (1) FY2026E represents 10 months of forecasted performance. 71 General Accounting Methodology Volume of product sold, measured by weight in kilograms Gross Sales Product sales after returns Net Sales Gross sales less rebates and discounts Direct Cost of Sales Direct materials, direct labor and sales deductions (including outbound freight, sales broker commissions and customer rebates and discounts) Contribution Gross sales less direct cost of sales Factory Overhead Indirect labor, utilities, rent, repairs & maintenance, and other overhead expenses Gross Profit Contribution less factory overhead SG&A Remaining costs required to operate the business, including office overhead, sales and marketing costs and cash discounts from vendors Adj. EBITDA Gross Profit less SG&A; reflects QoE adjustments for non-recurring and one-time items (see pages 78 and 79 for additional detail) PF Adjustments Pro Forma adjustments related to the full year impact of cost savings implemented and realized in FY2026 Q1 (TradeAid Savings – Phase 1) validated by BDO (see page 79 for further detail) PF Adj. EBITDA Adjusted EBITDA plus Pro Forma Adjustments Bl ue Po in t Total KG 72 Historical And Projected Financial Performance CAGR CAGR Projected Forecast Historical ($ CAD and KGs in Millions) FY25A - FY30P FY23A - FY25A 18.7% 9.9% 7.4 8.0 8.9 FY2026E 10.4 FY2027P 13.1 FY2028P 15.8 FY2029P 18.6 FY2030P 21.1 Gross Sales Rebates and Discounts Net Sales $72.4 (0.5) $71.8 $79.9 (0.6) $79.3 $90.8 (0.7) $90.1 $101.0 (0.7) $100.3 $125.9 (0.7) $125.2 $152.4 (1.4) $151.0 $178.7 (2.2) $176.5 $202.9 (2.4) $200.4 Freight, Transportation, and Commissions Direct Materials Direct Labor and Benefits Total Direct Cost of Sales $4.5 26.4 7.3 $38.3 $4.0 25.6 7.9 $37.5 $3.9 30.8 8.3 $43.1 $3.6 35.3 9.9 $48.8 $4.3 45.3 12.4 $62.0 $5.5 54.5 15.0 $75.0 $6.3 64.5 17.7 $88.5 $7.4 73.9 20.0 $101.3 (6.6%) 8.1% 6.5% 6.1% 13.4% 19.1% 19.2% 18.6% Contribution Contribution % Margin $33.6 46.7% $41.8 52.7% $47.0 52.2% $51.5 51.4% $63.2 50.5% $76.0 50.3% $88.0 49.9% $99.2 49.5% 18.4% 16.1% Wages & Benefits Utilities Rent Repairs & Maintenance Other Overhead Expenses Total Factory Overhead $3.9 1.4 1.1 1.0 3.1 $10.6 $5.6 1.0 3.0 1.2 3.2 $14.0 $6.1 1.1 3.3 1.0 3.2 $14.8 $6.2 1.3 3.5 1.1 3.7 $15.7 $7.9 1.6 3.6 1.8 4.6 $19.5 $8.2 1.9 3.7 2.1 5.1 $21.0 $8.5 2.3 3.9 2.4 5.6 $22.6 $8.8 2.6 4.0 2.7 6.1 $24.1 25.2% (10.2%) 70.3% 2.3% 0.7% 18.2% 7.5% 17.8% 3.8% 20.4% 13.7% 10.2% Gross Profit Gross Profit % Margin $23.0 32.0% $27.8 35.1% $32.2 35.7% $35.8 35.7% $43.7 34.9% $55.0 36.4% $65.4 37.1% $75.1 37.5% 18.4% 18.5% Payroll Bonus Expense Data Processing Professional Fees Other SG&A Expenses Total SG&A $0.7 1.4 0.4 0.8 0.8 $4.0 Other Income / (Expense) 0.4 (1) Pro Forma TradeAid Adjustment Pro Forma Adj. EBITDA PF Adj. EBITDA % Margin 17.4% 28.0% 17.3% ue Po in t 12.0% 14.4% 12.0% $0.7 1.3 0.5 0.5 0.7 $3.7 $1.0 1.3 0.6 0.4 0.8 $4.1 $1.4 1.4 0.7 0.5 0.7 $4.8 $1.4 1.5 0.8 0.5 1.0 $5.2 $1.7 1.6 0.8 0.6 1.1 $5.7 $1.8 1.7 0.8 0.6 1.1 $6.1 $1.9 1.8 0.8 0.6 1.2 $6.3 22.8% (1.7%) 12.5% (26.0%) (0.4%) 0.9% 12.2% 6.6% 8.3% 7.4% 9.3% 8.9% 0.5 0.2 - - - - - (18.9%) - $19.3 26.8% $24.7 31.1% $28.3 31.4% $31.0 30.9% $38.5 30.8% $49.2 32.6% $59.4 33.6% $68.8 34.3% 21.2% 19.4% - - 0.5 - - - - - - - $19.3 26.8% $24.7 31.1% $28.8 31.9% $31.0 30.9% $38.5 30.8% $49.2 32.6% $59.4 33.6% $68.8 34.3% 22.2% 19.0% Bl Adj. EBITDA Adj. EBITDA % Margin FY2025A FY2024A FY2023A Total KGs Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. Assumes U.S. denominated sales in the budget and projection periods (FY2026E – FY2030P) are converted to $CAD at a rate of $1.375 $CAD to $1 $USD. (1) Please see Page 79 for additional TradeAid adjustment detail. 73 Historical And Projected Financial Performance: FY2023A – FY2024A CAGR 8.0 Gross Sales Rebates and Discounts Net Sales $72.4 (0.5) $71.8 $79.9 (0.6) $79.3 10.4% 6.7% 10.4% Freight, Transportation, and Commissions Direct Materials Direct Labor and Benefits Total Direct Cost of Sales $4.5 26.4 7.3 $38.3 $4.0 25.6 7.9 $37.5 (11.3%) (3.1%) 8.1% (1.9%) Contribution Contribution % Margin $33.6 46.7% $41.8 52.7% 24.5% Wages & Benefits Utilities Rent Repairs & Maintenance Other Overhead Expenses Total Factory Overhead $3.9 1.4 1.1 1.0 3.1 $10.6 $5.6 1.0 3.0 1.2 3.2 $14.0 Gross Profit Gross Profit % Margin $23.0 32.0% $27.8 35.1% Payroll Bonus Expense Data Processing Professional Fees Other SG&A Expenses Total SG&A $0.7 1.4 0.4 0.8 0.8 $4.0 $0.7 1.3 0.5 0.5 0.7 $3.7 Other Income / (Expense) 0.4 Pro Forma TradeAid Adjustment Pro Forma Adj. EBITDA PF Adj. EBITDA % Margin (1) Total Net Sales: Total Net Sales increased $7.5M, or 10.4%, from $71.8M in FY2023A to $79.3M in FY2024A. This increase was driven by (i) volume expansion within existing top customers such as Trader Joe’s and Lidl, (ii) Increased ASP driven by turnkey program at Hain Canada, and (iii) the introduction of 11 inaugural Pretzelized SKUs in March 2024 (FY2024A) 42.4% (29.6%) 162.0% 22.4% 2.0% 31.8% 21.2% Gross Profit increased $4.8M, or 21.2%, from $23.0M in FY2023A to $27.8M in FY2024A. Gross Profit Margin increased 310bps from 32.0% in FY2023A to 35.1% in FY2024A. The improvement was partially driven by increased pricing in response to commodity-related inflation, following similar increases from branded competitors, resulting in improved material margins. ue 3.5% (6.1%) 5.7% (34.3%) (9.9%) (9.2%) Gross Profit: 0.5 PF Adjusted EBITDA: PF Adjusted EBITDA increased $5.4M, or 28.0%, from $19.3M in FY2023A to $24.7M in FY2024A. This increase was driven by the Gross Profit improvements mentioned above as well as fixed operating cost leverage from Net Sales growth. PF Adjusted EBITDA Margin increased 430 bps from 26.8% in FY2023A to 31.1% in FY2024A. Bl Adj. EBITDA Adj. EBITDA % Margin Management Commentary Po 7.4 FY23A - FY24A 8.4% Total KGs FY2024A t Historical FY2023A in ($ CAD and KGs in Millions) $19.3 26.8% $24.7 31.1% - - $19.3 26.8% $24.7 31.1% 28.0% 28.0% Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. FY2023A – FY2025A represents QoE adjusted financials. (1) Please see Page 79 for additional TradeAid adjustment detail. 74 Historical And Projected Financial Performance: FY2024A – FY2025A CAGR 8.9 Gross Sales Rebates and Discounts Net Sales $79.9 (0.6) $79.3 $90.8 (0.7) $90.1 13.6% 22.6% 13.6% Freight, Transportation, and Commissions Direct Materials Direct Labor and Benefits Total Direct Cost of Sales $4.0 25.6 7.9 $37.5 $3.9 30.8 8.3 $43.1 (1.7%) 20.5% 5.0% 14.8% Contribution Contribution % Margin $41.8 52.7% $47.0 52.2% 12.5% Wages & Benefits Utilities Rent Repairs & Maintenance Other Overhead Expenses Total Factory Overhead $5.6 1.0 3.0 1.2 3.2 $14.0 $6.1 1.1 3.3 1.0 3.2 $14.8 Gross Profit Gross Profit % Margin $27.8 35.1% $32.2 35.7% Payroll Bonus Expense Data Processing Professional Fees Other SG&A Expenses Total SG&A $0.7 1.3 0.5 0.5 0.7 $3.7 $1.0 1.3 0.6 0.4 0.8 $4.1 Other Income / (Expense) 0.5 Pro Forma TradeAid Adjustment Pro Forma Adj. EBITDA PF Adj. EBITDA % Margin (1) Total Net Sales: Total Net Sales increased $10.8M, or 13.6%, from $79.3M in FY2024A to $90.1M in FY2025A. This increase was driven by rapid increase of the Pretzelized business, with the addition of 17 new SKUs. 10.1% 14.5% 10.7% (14.6%) (0.6%) 5.9% 15.8% Gross Profit increased $4.4M, or 15.8%, from $27.8M in FY2024A to $32.2M in FY2025A. Gross Profit Margin increased 60bps from 35.1% in 2024A to 35.7% in 2025A. This increase was driven by fixed operating cost leverage from Net Sales growth as the Newkirk facility ramped up production. PF Adjusted EBITDA ue 45.8% 2.8% 19.8% (16.8%) 10.2% 12.1% Gross Profit 0.2 PF Adjusted EBITDA increased $4.1M, or 16.6%, from $24.7M in FY2024A to $28.8M in FY2025A. This growth was driven primarily by increased volume growth from Pretzelized. PF Adjusted EBITDA Margin increased 80bps from 31.1% in FY2024A to 31.9% in FY2025A as a result of fixed operating cost leverage, as mentioned above. Additionally, TradeAid-supported supply chain initiatives launched and being realized in FY1Q’26, contributed an estimated $458K of Pro Forma FY2025 savings, and margin uplift of 80bps. Bl Adj. EBITDA Adj. EBITDA % Margin Management Commentary Po 8.0 FY24A - FY25A 11.5% Total KGs FY2025A t Historical FY2024A in ($ CAD and KGs in Millions) $24.7 31.1% $28.3 31.4% - 0.5 $24.7 31.1% $28.8 31.9% 14.8% 16.6% Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. FY2023A – FY2025A represents QoE adjusted financials. (1) Please see Page 79 for additional TradeAid adjustment detail. 75 Historical And Projected Financial Performance: FY2025A – FY2026E Forecast CAGR FY2025A FY2026E 10.4 Gross Sales Rebates and Discounts Net Sales $90.8 (0.7) $90.1 $101.0 (0.7) $100.3 11.2% (1.8%) 11.3% Freight, Transportation, and Commissions Direct Materials Direct Labor and Benefits Total Direct Cost of Sales $3.9 30.8 8.3 $43.1 $3.6 35.3 9.9 $48.8 (9.5%) 14.5% 18.9% 13.2% Contribution Contribution % Margin $47.0 52.2% $51.5 51.4% 9.5% Wages & Benefits Utilities Rent Repairs & Maintenance Other Overhead Expenses Total Factory Overhead $6.1 1.1 3.3 1.0 3.2 $14.8 $6.2 1.3 3.5 1.1 3.7 $15.7 Gross Profit Gross Profit % Margin $32.2 35.7% $35.8 35.7% Payroll Bonus Expense Data Processing Professional Fees Other SG&A Expenses Total SG&A $1.0 1.3 0.6 0.4 0.8 $4.1 $1.4 1.4 0.7 0.5 0.7 $4.8 Other Income / (Expense) 0.2 Adj. EBITDA Adj. EBITDA % Margin Pro Forma TradeAid Adjustment Pro Forma Adj. EBITDA PF Adj. EBITDA % Margin (1) Management Commentary Total Net Sales: Total Net Sales is expected to increase $10.2M, or 11.3%, from $90.1M in FY2025A to $100.3M in FY2026E. This increase is driven by growth in large accounts such as Trader Joe’s and Pretzelized. Sales growth slightly trails volume growth given mix shift towards lower ASP products and investments made to support the growth of key customers. 0.4% 12.2% 6.5% 3.9% 16.1% 6.3% 11.0% Gross Profit is expected to increase $3.6M, or 11.0%, from $32.2M in FY2025A to $35.8M in FY2026E. Gross Profit Margin is expected to remain flat at 35.7% in FY2025A and FY2026E. Gross Profit Margin benefitted from continued operational leverage, partially offset by strategic investment in the Pretzelized relationship to support the customer’s growth through increased brand building initiatives. ue 35.1% 6.1% 32.5% 27.1% (10.3%) 16.0% Gross Profit: - PF Adjusted EBITDA: PF Adjusted EBITDA is expected to increase $2.2M, or 7.7%, from $28.8M in FY2025A to $31.0M in FY2026E. PF Adjusted EBITDA Margin is expected to decrease 100bps from 31.9% in FY2025A to 30.9% in FY2026E, driven by stable gross profit margins and slightly higher operating expenses as the business invested in personnel to support growth. Bl Total KGs Po 8.9 FY25A - FY26E 16.8% t Historical in ($ CAD and KGs in Millions) $28.3 31.4% $31.0 30.9% 0.5 - $28.8 31.9% $31.0 30.9% 9.4% 7.7% Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. FY2023A – FY2025A represents QoE adjusted financials. FY2026E represents Management estimates. Assumes U.S. denominated sales in the budget and projection periods (FY2026E – FY2030P) are converted to $CAD at a rate of $1.375 $CAD to $1 $USD. (1) Please see Page 79 for additional TradeAid adjustment detail. 76 Historical And Projected Financial Performance: FY2026E – FY2030P ($ CAD and KGs in Millions) Forecast Total KGs FY2026E 10.4 FY2027P 13.1 FY2028P 15.8 FY2029P 18.6 FY2030P 21.1 FY26E - FY30P 19.2% Gross Sales Rebates and Discounts Net Sales $101.0 (0.7) $100.3 $125.9 (0.7) $125.2 $152.4 (1.4) $151.0 $178.7 (2.2) $176.5 $202.9 (2.4) $200.4 19.1% 36.8% 18.9% Freight, Transportation, and Commissions Direct Materials Direct Labor and Benefits Total Direct Cost of Sales $3.6 35.3 9.9 $48.8 $4.3 45.3 12.4 $62.0 $5.5 54.5 15.0 $75.0 $6.3 64.5 17.7 $88.5 $7.4 73.9 20.0 $101.3 19.9% 20.3% 19.2% 20.0% Contribution Contribution % Margin $51.5 51.4% $63.2 50.5% $76.0 50.3% $88.0 49.9% $99.2 49.5% 17.8% Wages & Benefits Utilities Rent Repairs & Maintenance Other Overhead Expenses Total Factory Overhead $6.2 1.3 3.5 1.1 3.7 $15.7 $7.9 1.6 3.6 1.8 4.6 $19.5 $8.2 1.9 3.7 2.1 5.1 $21.0 $8.5 2.3 3.9 2.4 5.6 $22.6 $8.8 2.6 4.0 2.7 6.1 $24.1 Gross Profit Gross Profit % Margin $35.8 35.7% $43.7 34.9% $55.0 36.4% $65.4 37.1% $75.1 37.5% 20.4% Payroll Bonus Expense Data Processing Professional Fees Other SG&A Expenses Total SG&A $1.4 1.4 0.7 0.5 0.7 $4.8 $1.4 1.5 0.8 0.5 1.0 $5.2 $1.7 1.6 0.8 0.6 1.1 $5.7 $1.8 1.7 0.8 0.6 1.1 $6.1 $1.9 1.8 0.8 0.6 1.2 $6.3 7.1% 6.7% 3.0% 3.0% 14.8% 7.2% Other Income / (Expense) - - - - - Pro Forma TradeAid Adjustment Pro Forma Adj. EBITDA PF Adj. EBITDA % Margin (1) CAGR t Management Commentary in Total Net Sales: Po 9.4% 19.2% 3.1% 25.0% 13.1% 11.2% Total Net Sales is expected to increase $100.1M, from $100.3M in FY2026E to $200.4M in FY2030P (18.9% CAGR). This increase is driven by growth with key existing customers through increased volumes and the cross-sell of existing SKUs, new product development, and new customer wins. Gross Profit ue Gross Profit is expected to increase $39.3M, from $35.8M in FY2026E to $75.1M in FY2030P (20.4% CAGR). Gross Profit Margin is expected to increase 180bps from 35.7% in 2026E to 37.5% in 2030P. This increase is driven by fixed operating cost leverage from Net Sales growth. PF Adjusted EBITDA PF Adjusted EBITDA is expected to increase $37.8M from $31.0M in FY2026E to $68.8M in FY2030P (22.1% CAGR). PF Adjusted EBITDA Margin is expected to increase 340bps from 30.9% in FY2026E to 34.3% in FY2030P driven by fixed operating cost leverage, as mentioned above. Bl Adj. EBITDA Adj. EBITDA % Margin Projected $31.0 30.9% $38.5 30.8% $49.2 32.6% $59.4 33.6% $68.8 34.3% - - - - - $31.0 30.9% $38.5 30.8% $49.2 32.6% $59.4 33.6% $68.8 34.3% 22.1% 22.1% Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. Assumes U.S. denominated sales in the budget and projection periods (FY2026E – FY2030P) are converted to $CAD at a rate of $1.375 $CAD to $1 $USD. FY2026E – FY2030P represents Management estimates and projections. (1) Please see Page 79 for additional TradeAid adjustment detail. 77 Historical Pro Forma Adjustment Presentation ($ CAD in 000s) $19,004 $21,505 $23,774 (2,164) 1,327 1,920 Adjustments Other (Income) / Expenses 2 Facility Transition 313 1,488 986 3 Non-Recurring Realized FX (68) (21) 756 4 Other Non-Recurring Items 1,881 193 527 5 Management Fee 224 250 250 6 Non-Recurring Inventory Write-Off - - 84 7 Executive Compensation 8 Go-Forward Insurance 9 Warehousing for Packaging Materials Adj. EBITDA 10 2 Represents Fenmar facility redundant rent & utilities, closure expenses, excess gas costs from temporary supplier, one-time R&D in Newkirk facility transition, and severance costs ue 74 Pro Forma TradeAid Adjustment Pro Forma Adj. EBITDA Represents unrealized FX (gain) / loss, non-recurring investment income of $1.8M in FY2023A, a one-time Ontario Manufacturing Investment Tax Credit of $1.6M in FY2024A, loss on disposal of fixed assets of $975K in FY2025A, and Scientific Research and Experimental Development (SR&ED) tax credits - 22 (149) (65) (0) 155 - - 268 3,172 4,545 $19,272 $24,677 $28,319 - - 458 $19,272 $24,677 $28,777 3 Represents the removal of realized FX relating to forward hedging contracts and a USD-denominated loan 4 Represents other non-recurring items, including, but not limited to, Newkirk facility gas line installation expenses, cybersecurity related expenses, non-recurring professional fees, temporary tariff expense and QA misclassification addback, and Ironbridge acquisition expenses Bl Total Adjustments 1 Po 1 t Reported EBITDA Adjustment Overview in FY2023A FY2024A FY2025A Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. FY2023A – FY2025A represents QoE adjusted financials. 78 Historical Pro Forma Adjustment Presentation (Cont’d) ($ CAD in 000s) $19,004 $21,505 $23,774 Adjustments 1,327 1,920 Facility Transition 313 1,488 986 3 Non-Recurring Realized FX (68) (21) 756 4 Other Non-Recurring Items 1,881 193 527 5 Management Fee 224 250 250 6 Non-Recurring Inventory Write-Off - - 84 7 Executive Compensation 8 Go-Forward Insurance 9 Warehousing for Packaging Materials Total Adjustments Adj. EBITDA 10 74 Pro Forma TradeAid Adjustment Pro Forma Adj. EBITDA 7 Represents non-recurring inventory normalizations and adjustments associated with Newkirk facility opening Represents $44k and $22k of redundant CFO compensation during transition periods in FY2023A and FY2025A, respectively Po 2 6 (2,164) Represents Ironbridge management fee of $21k per month 8 Represents go-forward insurance adjustments accounting for additional coverage on new facility, overall business growth, and trade receivables with Export Development Canada ue Other (Income) / Expenses 5 - 22 (149) (65) (0) 155 - - 268 3,172 4,545 $19,272 $24,677 $28,319 - - 458 $19,272 $24,677 $28,777 9 10 Represents additional 3PL warehousing costs in FY2023A associated with Newkirk facility construction The consulting firm TradeAid was engaged to support supply chain optimization across targeted cost areas. Phase 1 initiatives related to freight and warehousing were implemented in early FY2026E and are resulting in ongoing savings. The $458k reflects the annualized FY2025A run-rate savings had those initiatives been in place at the start of the year Bl 1 t Reported EBITDA Adjustment Overview in FY2023A FY2024A FY2025A Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. FY2023A – FY2025A represents QoE adjusted financials. 79 Capital Expenditure and Production Summary Total Capital Expenditures ($ CAD in 000s) Historical Budget Projected FY2024A FY2025A FY2026E FY2027P FY2028P FY2029P FY2030P $317 $902 $668 $1,000 $1,100 $1,200 $1,300 $1,400 Growth $8,763 $19,195 $3,174 1 $11,870 2 $12,150 $12,500 - Total Capital Expenditures $9,081 $20,098 $3,841 $12,870 $13,250 $3,550 $13,800 $1,400 Line 9 (Newkirk) Line 10 (Newkirk) FY2023A - FY2024A - FY2025A $1,385 - FY2026E $11,870 - FY2027P $12,150 - FY2028P $1,350 $1,000 FY2029P $12,500 FY2030P - (Volume, KGs in 000s) FY2023A FY2024A FY2025A FY2026E FY2027P FY2028P FY2029P FY2030P Production Max Volume(1)Capacity % Utilization 7,396 9,641 8,017 12,953 8,936 14,290 10,435 15,413 13,055 21,191 15,767 25,235 18,593 26,582 21,088 29,278 62% 63% 68% 62% 62% 70% 72% $2,350 4 in Growth Capital Expenditures ($ CAD in 000s) Line 8 (Newkirk) 3 Po Maintenance t FY2023A ue 77% FY2026E Investment: Capital investment for the purchase and installation of the sixth production line (Line 8) at the Newkirk facility. $1.9M has been remitted as of October 1, 2025. Installation is on track for completion in CY1Q’26 (March 2026) (2) 2 Planned FY2027P Investment: Capital investment allocated for the purchase of the seventh production line (Line 9) at the Newkirk facility, targeted for completion by end of FY2027 (July 2027)(2) 3 Planned FY2028P Investment: Payment for Line 9 installation and capital investment required for the purchase of the eighth production line (Line 10) to be installed by the end of CY1Q’28 (March 2028)(2) 4 Final FY2028P Payment: Payment for Line 10 installation(2) Bl 1 Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. FY2023A – FY2025A represents QoE pro forma adjusted financials. (1) FY2023A - FY2026E assumes current production schedule of two 12-hour shifts, 5 days per week. FY2027P – FY2030P assumes production schedule of two 12-hour shifts, 6 days per week. Includes allowances for changeovers and mechanical downtime. (2) Total cost for Line 8 estimated at $13.3M ($ CAD), total estimated cost for Lines 9 and 10 is $13.5M ($CAD). (3) Incremental Growth Capex in FY2025A beyond the $1.4M for Line 8 includes an additional bagger, HVAC installation, racking systems and other investments in equipment and the facilities. 80 Working Capital ($ CAD in 000s) FY2025A Current Assets $6,897 299 239 2,719 $8,134 580 599 2,984 $10,607 402 662 3,600 $10,154 $12,296 $15,271 ($1,530) (2,394) ($1,509) (3,710) ($1,673) (3,232) Total Current Liabilities ($3,924) ($5,219) ($4,905) Average Working Capital, Reported $6,229 $7,078 $10,366 Total Current Assets Current Liabilities Total Adjustments Average Working Capital, Adjusted DSO DIO DPO Cash Conversion Adjustment Overview 1 Removes accruals for capital purchase orders recorded in accrued liabilities 2 Adds back capital expenditure-related amounts in accounts payable, which are not considered part of normal working capital. These amounts were identified per review of the monthly accounts payable aging schedules and Management identification of capex related vendors 81 (20) 32 25 $1,213 862 (23) (2) 14 $311 232 (21) (17) 11 $117 $2,063 $517 $6,346 $9,141 $10,883 35 38 15 58 37 42 18 61 43 42 16 69 3 Removes the estimated prepayments related to management fees paid to Ironbridge that is specific to the current ownership structure and not expected to continue post-Transaction Bl Adjustments 1 Capital Accruals 2 Capex in Accounts Payable 3 Prepaid Management Fees 4 Bank Clearing Adjustment 5 Allowance for Doubtful Accounts The definition of reported working capital in this analysis is current assets less current liabilities as presented in the Company’s trial balances. ue Payroll & Other Current Liabilities Accounts Payable and Accrued Liabilities Working capital adjustments are based on information provided by Management, trial balance details and BDO estimates and assumptions. Diligence adjustments have been identified which normalizes working capital to exclude non-recurring and non-operating items. Po Accounts Receivable Other Receivables Advances, Deposits and Prepaids Inventory Basis of Presentation t FY2024A in FY2023A 4 Cash-like account hence eliminated from adjusted working capital 5 Reverses the Company's allowance for doubtful accounts over the Historical Period as Management notes that the Company has none to minimal bad debts and the allowance is drawn down to 0 at year-end Note: Financials in $CAD unless otherwise noted. July 31 fiscal year end. FY2023A – FY2025A represents QoE adjusted financials. Net Working Capital balances represent average for the fiscal year. 81