MAPLE LEAF FOODS RECEIVES TSX APPROVAL TO PROCEED WITH NORMAL COURSE ISSUER BID

MISSISSAUGA, ON, March 11, 2025 /PRNewswire/ - Maple Leaf Foods Inc. (the "Company") (TSX: MFI) today announced that the Toronto Stock Exchange (the "TSX") has accepted the notice filed by the Company to establish a normal course issuer bid ("NCIB") program.

The NCIB program commences on March 13, 2025 and will terminate on March 12, 2026, or on such earlier date as the Company may complete its purchases pursuant to a Notice of Intention filed with the TSX. Under the NCIB program, the Company is authorized to purchase up to 7,300,000 of its common shares (out of the 123,835,056 common shares outstanding as at March 2, 2025 representing 9.8% of the public float as at March 2, 2025, by way of normal course purchases effected through the facilities of the TSX and/or alternative Canadian trading systems. The average daily trading volume for the six months ended March 2, 2025 was 205,295 common shares. Common shares purchased by the Company will be cancelled. Pursuant to the terms of a previous normal course issuer bid approved by the TSX on May 23, 2023 and which expired on May 22, 2024, the Company was authorized to repurchase up to 7,200,000 shares, however the Company did not repurchase any common shares during such normal course issuer bid.  

In deciding to establish the NCIB, the Company believes that the market price of the common shares may not, from time to time, fully reflect their value and accordingly the purchase of the common shares would be in the best interest of the Company and an attractive and appropriate use of available funds.

Purchases will be made by the Company in accordance with the requirements of the TSX and the price which the Company will pay for any such common shares will be the market price of any such common shares at the time of acquisition, or such other price as may be permitted by the TSX. Shares will be repurchased in accordance with management's discretion, subject to applicable law. For purposes of the TSX rules, a maximum of 51,323 common shares may be purchased by the Company on any one day under the bid, except where purchases are made in accordance with the "block purchase exception" of the TSX rules. 

About Maple Leaf Foods
Maple Leaf Foods is a leading protein company responsibly producing food products under leading brands including Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, Mina®, Greenfield Natural Meat Co.®, Lightlife® and Field Roast™. The Company employs approximately 13,000 people and does business primarily in Canada, the U.S. and Asia. The Company is headquartered in Mississauga, Ontario and its shares trade on the Toronto Stock Exchange (MFI).

Forward–Looking Statements

This document may contain "forward-looking information" within the meaning of applicable securities law.  These statements are not guarantees of future events and involve assumptions and risks and uncertainties that are difficult to predict.  Some of these assumptions and risks and uncertainties are described in more detail in the Company's filings made with the securities regulatory authorities in Canada which are available on SEDAR+ at www.sedarplus.ca. Actual results may differ materially from those expressed, implied or forecasted in such forward-looking information. Maple Leaf Foods does not intend to, and Maple Leaf Foods disclaims any obligation to, update any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Maple Leaf Foods Inc.