Saputo Inc. — Capital/Financing Update 2021

Feb 4, 2021

Saputo Inc.

Consolidated Summary Financial Information[(*)]

As at and for the periods ended December 31, 2020 and 2019[(1)]

					Subsidiaries of the Issuer other	Subsidiaries of the Issuer other
(in millions of CDN dollars)	Issuer(2)		Guarantors(3)		than the Guarantors(4)		Consolidating	Adjustments(5)	Consolidated
	2020	2019	2020	2019	2020	2019	2020	2019	2020	2019
Revenues	86.8	81.9	10,311.4	10,105.2	553.9	1,127.1	(96.2)	(89.4)	10,855.9	11,224.8
Earnings before interest, income taxes,	(53.2)	(15.2)	1,047.7	980.8	174.1	204.6	(0.5)	(0.8)	1,168.1	1,169.4
depreciation, amortization, impairment of
intangible assets, gain on disposal of assets,
inventory revaluation resulting from a
business acquisition, and acquisition and
restructuring costs
Net earnings	522.5	494.1	528.1	491.3	136.5	65.1	(664.6)	(556.4)	522.5	494.1
Current assets	73.0	9.3	4,820.0	3,556.7	420.6	1,026.0	(1,173.0)	(660.8)	4,140.6	3,931.2
Non-current assets	12,132.6	10,638.2	24,870.0	23,871.2	3,811.5	5,644.1	(31,584.3)	(30,903.9)	9,229.8	9,249.6
Current liabilities	440.2	66.6	2,987.5	2,623.0	235.6	561.9	(1,258.6)	(931.9)	2,404.7	2,319.6
Non-current liabilities	2,666.4	1,817.1	8,565.5	8,662.2	2,694.5	1,732.3	(9,432.2)	(7,499.9)	4,494.2	4,711.7

(1) The information in this table has been prepared in accordance with securities regulatory requirements and has not been audited or the subject of a review by the Issuer's auditor.

(2) This column accounts for investments in all Subsidiaries of the Issuer under the equity method.

(3) This column accounts for investments in Subsidiaries of the Guarantors under the equity method.

(4) This column accounts for investments in Subsidiaries of the Issuer, other than the Guarantors, under the equity method.

(5) This column includes the necessary amounts to eliminate the intercompany balances between the Issuer, the Guarantors and other Subsidiaries to arrive at the information for the Issuer on a consolidated basis.

(*) Filing required in compliance with National Instrument 44-101 (Short Form Prospectus Distributions).