Saputo Inc. Announces the Renewal of its Normal Course Issuer Bid

Executive Summary

• Saputo Inc. received TSX approval to renew its NCIB, authorizing the repurchase of up to 20,498,278 common shares (≈5% of outstanding shares).
• The renewed NCIB is effective Nov 19 2025 and runs for one year, with daily purchase limits based on average trading volume.
• Saputo has established an Automatic Purchase Plan (APP) to facilitate share repurchases during blackout periods; the APP terminates with the NCIB.

Key Details

• Authorized Repurchase: Up to 20,498,278 common shares (5% of 409,965,571 outstanding shares as of Nov 7 2025).
• Purchase Price: Cash at prevailing market price for open‑market purchases; off‑exchange block purchases at a discount per applicable exemptive relief.
• Duration: Effective Nov 19 2025 – no later than Nov 18 2026 (one‑year term).
• Daily Purchase Limit: 154,649 shares (based on average daily volume of 618,596 shares over the prior six months).
• Weekly Block Purchase: One block purchase per week of shares not owned by insiders, subject to TSX rules.
• Automatic Purchase Plan (APP): Enables standard instructions for repurchases during self‑imposed blackout periods; effective Nov 19 2025 and terminates with the NCIB.
• Historical Activity (Current NCIB): Under the prior NCIB (Nov 19 2024 – Nov 18 2025), Saputo purchased 15,062,184 shares at an average price of $27.39, total consideration $413 million.

Notable Quotes

(No direct quotes were provided in the release.)