Chemtrade Logistics Income Fund (CHE-UN) Investor presentation summary

Business overview and performance

• Supplies essential industrial chemicals to critical industries with a diversified, recession-resistant portfolio.

• Achieved a 19% CAGR in Adjusted EBITDA over the past three years, reaching $503M in 2024.

• Total unitholder return was approximately 65% over the last three years.

• Distributable cash per unit increased from $0.80 in 2021 to $2.03 in LTM Q2 2025.

• Net debt to LTM Adjusted EBITDA reduced to 2.0x by Q2 2025, reflecting a strong balance sheet.

Strategic growth and capital allocation

• Vision 2030 targets 5–10% annual growth in EBITDA and distributable cash per unit, aiming for $550–$600M mid-cycle Adjusted EBITDA by 2030.

• Growth strategy includes organic investments, targeted acquisitions, and continued unit buybacks.

• Renewed NCIB for up to 10% of public float in 2025/26; 11.2M units repurchased under prior NCIB.

• Distribution increased by 15% since 2023, with a current yield above 5%.

• Capital allocation balanced across distributions, buybacks, growth capex, and debt reduction.

Recent financial results and guidance

• Q2 2025 revenue grew 10.8% YoY to $496.7M; Adjusted EBITDA rose 19.9% to $138.0M.

• Distributable cash after maintenance capex increased 49.6% YoY in Q2 2025.

• 2025 Adjusted EBITDA guidance raised to $475–$500M, up from $430–$460M.

• Implied 2025 payout ratio is ~38% at guidance midpoint.

• Available liquidity of ~$700M and well-staggered debt maturities support growth plans.