Metro to take ~$22-million Q4 hit from freezer issues

An anonymous director reports UPDATE: TORONTO FROZEN FOOD DISTRIBUTION CENTRE Metro Inc. is providing an update regarding its frozen food distribution centre in Toronto, where operations were interrupted on Sept. 12, 2025, due to a mechanical issue in the refrigeration system. Metro continues to execute its contingency plan to ensure the replenishment of its stores. Thanks to the commitment of the company's teams and the collaboration of its partners, all Metro and Food Basics stores in Ontario continue to meet the needs of its customers. The mechanical issue affected several components of the refrigeration system, but the repairs, which are complex, are progressing normally and should be completed in the coming weeks, after which operations will gradually resume. The net after-tax financial impact of this situation is estimated at $22 million in the fourth quarter of fiscal 2025, which includes inventory losses for the most part as well as other direct costs. Other non-recurring costs will also be incurred in the first quarter of fiscal 2026. These financial impacts do not include the amounts that METRO may recover from its insurers. The company plans to provide its next update when it will announce its fourth quarter results for fiscal 2025 on November 19, 2025. About Metro Inc. With annual sales of more than $21 billion, METRO Inc. is a food and pharmacy leader in Quebec and Ontario, providing employment to more than 97,000 people. Its purpose is to Nourish the health and well-being of our communities. As a retailer, franchisor, distributor, manufacturer, and provider of ecommerce services, the company operates or services a network of 995 food stores under several banners including Metro, Metro Plus, Super C, Food Basics, Adonis and Premiere Moisson, and some 640 pharmacies primarily under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners. We seek Safe Harbor.