Alliance Grain Traders

From Producer to the World

Lentils

Forward Looking Statements

 

Certain statements in this press release are forward-looking statements. The reader is cautioned that assumptions
used in the preparation of such information, although considered reasonable by AGTI at the time of preparation,
may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of AGTI (including its operating
subsidiaries) to be materially different from any future results, performance or achievements expressed or implied
by the forward-looking statements. Such risks and uncertainties include, among others, the actual results of harvests,
fluctuations in the price of lentils and other crops, failure of plant, equipment or processes to operate as anticipated,
accidents or labour disputes, risks relating to the integration of acquisitions or to international operations as well as
those factors referred to in the section entitled “Risk Factors” in the Annual Information Form of AGTI dated March
30, 2010 which is available on SEDAR at www.sedar.com, and which should be reviewed in conjunction with this
document. Although AGTI has attempted to identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forwardlooking
statements will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
AGTI expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise, except in accordance with applicable securities laws.
Non-GAAP Financial Measures
EBITDA*, Earnings Before Interest, Income Taxes, Depreciation and Amortization, is a financial measure used by
many investors to compare companies on the basis of operating results, asset value and the ability to incur and
service debt. EBITDA* is used because AGTI’s net income alone does not give an accurate picture of its’ cashgenerating
potential. Management believes that EBITDA* is an important measure in evaluating performance and
in determining whether to invest in AGTI. However, EBITDA* is not a recognized earnings measure under
Canadian Generally Accepted Accounting Principles (“GAAP”) and does not have a standardized meaning
prescribed by GAAP. It is not intended to represent cash flow or results of operations in accordance with GAAP.
Therefore, EBITDA* may not be comparable to similar measures presented by other issuers. Investors are
cautioned that EBITDA* should not be construed as an alternative to net income or loss determined in accordance
with GAAP as an indicator of AGTI’s performance or to cash flows from operating, investing and financing
activities of liquidity and cash flows. For a reconciliation of net income determined in accordance with GAAP to
EBITDA*, see the table on page 17 of management’s discussion and analysis for the three months ended March 31,
2010 available under AGTI’s profile on www.sedar.com

Certain statements in this website are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by AGTI at the time of preparation,may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AGTI (including its operating subsidiaries) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the actual results of harvests,fluctuations in the price of lentils and other crops, failure of plant, equipment or processes to operate as anticipated,accidents or labour disputes, risks relating to the integration of acquisitions or to international operations as well as those factors referred to in the section entitled “Risk Factors” in the Annual Information Form of AGTI dated March 30, 2010 which is available on SEDAR at www.sedar.com, and which should be reviewed in conjunction with this website. Although AGTI has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. AGTI expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.


Non-GAAP Financial Measures

EBITDA*, Earnings Before Interest, Income Taxes, Depreciation and Amortization, is a financial measure used by many investors to compare companies on the basis of operating results, asset value and the ability to incur and service debt. EBITDA* is used because AGTI’s net income alone does not give an accurate picture of its’ cash generating potential. Management believes that EBITDA* is an important measure in evaluating performance andin determining whether to invest in AGTI. However, EBITDA* is not a recognized earnings measure under Canadian Generally Accepted Accounting Principles (“GAAP”) and does not have a standardized meaning prescribed by GAAP. It is not intended to represent cash flow or results of operations in accordance with GAAP. Therefore, EBITDA* may not be comparable to similar measures presented by other issuers. Investors are cautioned that EBITDA* should not be construed as an alternative to net income or loss determined in accordance with GAAP as an indicator of AGTI’s performance or to cash flows from operating, investing and financing activities of liquidity and cash flows. For a reconciliation of net income determined in accordance with GAAP to EBITDA*, see the table on page 17 of management’s discussion and analysis for the three months ended March 31,2010 available under AGTI’s profile on www.sedar.com

This website also provides hyperlinks to third-party websites. Alliance Grain Traders Inc. does not maintain these sites and does not endorse or accept any responsibility for the content, or the use, of the sites. Alliance Grain Traders Inc. makes no representations or warranties with respect to the information contained herein other than as required by law and takes no responsibility for supplementing, updating or correcting any such information.