Maple Leaf Foods' spinoff of pork ops to close Oct. 1

Mr. Anthony Garson reports MAPLE LEAF FOODS ANNOUNCES RECORD DATE AND ANTICIPATED CLOSING DATE FOR SPIN-OFF OF CANADA PACKERS The previously announced spinoff of Maple Leaf Foods Inc.'s pork operations as Canada Packers Inc. by way of a plan of arrangement is expected to close on Oct. 1, 2025. The record date for the arrangement is Sept. 30, 2025. Earlier this year the company received the required shareholder and court approvals for the arrangement, and with a favourable ruling from the Canada Revenue Agency expected imminently, it is positioned to move forward with the closing. Pursuant to the arrangement, MLF will retain a 16-per-cent ownership interest in Canada Packers, with the balance of the shares being distributed pro-rata to existing MLF shareholders. Each MLF shareholder will receive, for each common share of MLF held on the arrangement record date, 0.2 of a common share of Canada Packers, as further described in the management information circular of MLF dated May 1, 2025. Based upon 124,826,070 issued and outstanding MLF common shares as of Sept. 25, 2025, it is expected that there will be approximately 29,720,492 Canada Packers common shares immediately following completion of the arrangement, of which 24,965,214 are to be distributed pro rata to MLF shareholders and 4,755,278 of which are to be retained by MLF. The Toronto Stock Exchange will implement a due bill trading market for MLF common shares commencing Sept. 30, 2025, and ending at the close of business on Oct. 1, 2025. The MLF common shares are expected to trade in the due bill market, under the symbol MFI, on the TSX. Additionally, the TSX will implement an if, as and when issued ex-distribution trading market for the MLF common shares and an if, as and when issued trading market for the Canada Packers common shares commencing Sept. 30, 2025, and ending at the close of business on Oct. 1, 2025. The MLF common shares will trade in the if, as and when issued ex-distribution trading market, under the designation MFI.W, on the TSX. The Canada Packers common shares will trade in the if, as and when issued trading market, under the designation CPKR, on the TSX. The MLF common shares will resume regular way trading on the TSX on Oct. 2, 2025, under the symbol MFI. The Canada Packers common shares will commence regular way trading on the TSX on Oct. 2, 2025, under the symbol CPKR. MLF shareholders are advised that they may receive their Canada Packers common shares (whether in their brokerage account or in the form of a DRS advice, as applicable) at a later date, depending on the manner in which they hold their MLF common shares. Estimated proportionate allocation of adjusted cost base between MLF common shares and Canada Packers common shares is expected to be posted on the MLF and Canada Packers websites when available during the fourth quarter of 2025. MLF shareholders of record as of the close of business on Sept. 5, 2025, will be entitled to receive the previously announced quarterly dividend of 24 cents per MLF common share, payable on Sept. 29, 2025. This dividend is not subject to due bill trading or if, as and when issued trading. Rather, the determination of shareholders entitled to receive such dividend, as well as the payment thereof, will be made in the ordinary course. Additional Q&A (question and answer) available on the Maple Leaf Foods and Canada Packers websites Please refer to the document titled "Canada Packers Listing Process - Q&A" on the MLF and Canada Packers websites for further details about due bill, when issued ex distribution, and if, as and when issued trading, as well as other important information relating to the completion of the arrangement. About Maple Leaf Foods Inc. Maple Leaf Foods is a leading, protein-focused consumer packaged goods company headquartered in Mississauga, Ont. It proudly produces responsibly made, delicious food under powerhouse brands that include Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Mina, Greenfield Natural Meat Co., LightLife and Field Roast. Committed to raising the good in food and bringing customers protein with purpose, Maple Leaf Foods delivers shared value for all its stakeholders by leading the way in safety and sustainability, building loved brands, operating with excellence, developing extraordinary talent, and broadening its impact through innovation and geographic reach. About Canada Packers Inc. Canada Packers (TSX: CPKR) is one of North America's largest producers of raised without antibiotics (RWA) pork and is committed to its vision to be the global standard in sustainable pork. Headquartered in Mississauga, Ont., Canada Packers delivers a premium mix of products to a diverse mix of customers in North America and across the globe through representative offices in Mexico, China, South Korea, Japan and the Philippines. The company's integrated operations span hog production, processing and value-added innovation. We seek Safe Harbor.