Laurentian Bank Shareholders Vote in Favour of the Transaction with Fairstone Bank of Canada

Executive Summary

• Shareholders approved the special resolution to sell all Laurentian Bank common shares to Fairstone Bank at $40.50 per share, with 98.77% voting in favour.
• The approval meets the required 66 % threshold; completion now hinges on regulatory approvals and satisfaction of other closing conditions, including the parallel Retail/SME Transaction with National Bank of Canada.
• Assuming all conditions are met, both transactions are expected to close in late‑2026, positioning Laurentian Bank for accelerated strategic growth under new ownership.

Key Details

• Acquisition price: $40.50 per common share.
• Shareholder vote result: 98.77 % of votes cast approved the transaction (exceeds the required 66 %).
• Regulatory requirements: Completion subject to receipt of required regulatory approvals and satisfaction/waiver of other closing conditions.
• Related transaction: Concurrent Retail/SME Transaction where National Bank of Canada will acquire certain retail and SME assets and assume related liabilities.
• Expected close date: Late 2026, pending fulfillment of all conditions for both the Acquisition Transaction and the Retail/SME Transaction.
• Operational continuity: Daily operations to continue unchanged until closing; no immediate impact on customers or employees anticipated.
• Management comment: CEO Eric Provost stated the vote confirms strong shareholder support for the Bank’s strategic growth plan and its 175‑year legacy.

Notable Quotes

“We are pleased that Shareholders have recognized that the Acquisition Transaction is in the best interests of the Bank and its Shareholders,” – Eric Provost, President & CEO, Laurentian Bank.