Maple Leaf Foods (MFI) Investor Day 2026 summary

Strategic transformation and competitive advantages

• Completed a CAD 2 billion transformation, modernizing assets and focusing on protein, resulting in a structurally advantaged, purpose-driven, brand-led CPG business with a future-ready blueprint for growth and shareholder value creation.

• Achieved 12.2% adjusted EBITDA margin in 2025, up from low single digits over 30 years, with 7.7% revenue growth and strong free cash flow, following a four-phase transformation including portfolio reshaping, modernization, and the spin-off of pork operations.

• Outperformed peers with a 52% total shareholder return in 2025, compared to 33% for the S&P/TSX Composite.

• Four key competitive advantages: leading brands, world-class assets, sustainability leadership, and financial strength.

• Positioned as a North American protein powerhouse with 35 brands, 19 manufacturing plants, and a leading sustainability profile, including being the first large-scale carbon-neutral food company.

Growth strategy and financial ambitions

• Targeting CAD 5 billion (~$5B) in revenue and CAD 750 million (~$750M) adjusted EBITDA by 2030, with mid-single digit revenue CAGR, margin growth at twice the revenue rate, and cumulative free cash flow of $1.7–$1.8B from 2026–2030 while maintaining leverage below 3.0x.

• Growth driven by leadership in sustainable meats, loved brands, impactful innovation, U.S. market penetration, and disciplined capital allocation.

• Margin expansion driven by mix improvement, disciplined revenue management, productivity initiatives, and structural cost reduction via the Fuel for Growth program.

• Capital allocation priorities: invest in business, maintain competitive dividend, selective bolt-on M&A, and return excess capital to shareholders.

• 2026 outlook: CAD 520–540 million adjusted EBITDA, 10% dividend increase, and continued investment-grade leverage below 3x.

Sustainability and brand leadership

• Sustainability is foundational, not just ESG compliance, with commitments to a 30% reduction in Scope 1 and 2 emissions by 2030, 98% food waste diversion, and leadership in animal care and people safety.

• Sustainable meats platform exceeds CAD 700 million in revenue, delivering premium pricing and category growth, with Greenfield and Maple Leaf Prime leading in Canada and expanding in the U.S.

• 80% of global consumers willing to pay a premium for sustainable products; 70% in Canada seek sustainably produced goods.

• Brand renovation and disciplined marketing drive revenue and EBITDA growth, leveraging consumer insights, demand spaces, and innovation to drive market share, premium mix, and long-term value.