IMPERIAL TOBACCO CANADA COMMENTS ON COURT'S SANCTION OF PLAN OF ARRANGEMENT IN CCAA PROCEEDINGS

MONTREAL, March 6, 2025 /CNW/ - Imperial Tobacco Canada today reported that the court-appointed Mediator's and Monitor's Plan of Compromise and Arrangement (the "Plan") has been sanctioned by the Ontario Superior Court of Justice in the ongoing proceedings under the Companies' Creditors Arrangement Act ("CCAA").

Eric Gagnon, Vice President, Corporate and Regulatory Affairs for Imperial Tobacco Canada, stated: "We are pleased that the Court has sanctioned the Mediator's and Monitor's Plan of Arrangement, a critical milestone in the CCAA process. We look forward to the successful implementation of this Plan, which maximizes value for claimants, resolves outstanding tobacco litigation, and allows us to emerge from CCAA protection."

The Plan resolves all Canadian tobacco litigation and provides a full and comprehensive release to Imperial Tobacco Canada, BAT and all related entities for all Canadian tobacco claims. This settlement will be funded by the cash on hand and the profits generated from the future sale of tobacco products in Canada, thereby maximizing recovery for the claimants.

"While there are still some steps that must be taken to implement the settlement, Imperial Tobacco Canada is committed to continue working with the relevant parties to complete this process as quickly as possible for the benefit of all stakeholders," added Mr. Gagnon.

Companies' Creditors Arrangement Act

CCAA is the Companies' Creditors Arrangement Act, and it refers to the Canadian Federal Act that allows corporations the opportunity to restructure their affairs. An organization that files for court protection under CCAA continues to operate and maintain business that is "in the ordinary course" or business as usual.

FTI Consulting Canada Inc. is serving as the Court-appointed Monitor of Imperial Tobacco Canada. Additional information regarding Imperial Tobacco Canada's CCAA proceedings will be available on the Monitor's website at http://cfcanada.fticonsulting.com/imperialtobacco.

About Imperial Tobacco Canada

Imperial Tobacco Canada is Canada's leading tobacco and nicotine products company and is part of the world's most international tobacco group: BAT. At BAT, our purpose is to create A Better Tomorrow™ by Building a Smokeless World.

Our vision is for A Smokeless World built on smokeless products where, ultimately, cigarettes have become a thing of the past. A world where smokers have migrated from cigarettes to smokeless alternatives. A world where smokers make a Switch to Better.

SOURCE Imperial Tobacco Canada