Rogers Sugar arranges $50-million debenture offering

Mr. Jean-Sebastien Couillard reports ROGERS SUGAR ANNOUNCES A $50 MILLION CONVERTIBLE DEBENTURE OFFERING Rogers Sugar Inc. has arranged a public offering of $50-million aggregate principal amount of ninth series convertible unsecured subordinated debentures, at an offering price of $1,000 per offered debenture. The offered debentures will bear interest at an annual rate of 5.50 per cent per annum, payable semi-annually on the last day of January and July commencing on July 31, 2026. The offered debentures will mature on Jan. 31, 2033. The offering is being made through a syndicate of underwriters co-led by BMO Capital Markets and National Bank Capital Markets on a bought deal basis. The offered debentures will be convertible at the holder's option into common shares of the company at any time prior to 5 p.m. Montreal time on the earlier of the business day immediately preceding the maturity date and the business day immediately preceding the date fixed by the company for redemption of the offered debentures, at a conversion price of $7.91 per debenture share. The offered debentures will not be redeemable prior to Jan. 31, 2029. On or after Jan. 31, 2029, and prior to Jan. 31, 2031, the offered debentures may be redeemed in whole or in part from time to time at the company's option, at a price equal to their principal amount plus accrued and unpaid interest, provided that the weighted average trading price of the common shares in the capital of the company on the Toronto Stock Exchange for the 20 consecutive trading days ending on the fifth trading day preceding the date upon which the notice of redemption is given is at least 125 per cetn of the conversion price. On or after Jan. 31, 2031, and prior to the maturity date, the offered debentures may be redeemed in whole or in part from time to time at the company's option at a price equal to their principal amount plus accrued and unpaid interest. The company has granted to the underwriters an option, exercisable in whole or in part and at any time up to 30 days after the closing of the offering, to purchase up to an additional $7.5-million aggregate principal amount of offered debentures (being up to 15 per cetn of the aggregate principal amount of offered debentures sold in the offering) at the offering price, to cover overallotments, if any, and for market stabilization purposes. If the overallotment option is exercised in full, the aggregate gross proceeds of the offering will be $57.5-million. The net proceeds of this offering will be used to reduce amounts outstanding under the credit facility of Lantic Inc., a subsidiary of the company, and for general corporate purposes. The offering is expected to close on or about Jan. 12, 2026, and is subject to certain conditions, including regulatory and Toronto Stock Exchange approval. The offered debentures will be offered in each of the provinces of Canada pursuant to a prospectus supplement to the company's final short form base shelf prospectus dated Dec. 5, 2025, that will be filed by no later than Jan. 7, 2026. Delivery of the prospectus supplement, and any amendments to the documents will be provided in accordance with securities legislation relating to procedures for providing access to a prospectus supplement and any amendment. The prospectus supplement will be (within two business days of the date hereof), accessible on SEDAR+. A copy of the prospectus supplement (when filed) and any amendment may be obtained without charge from BMO Nesbitt Burns Inc. at Brampton Distribution Centre, care of The Data Group of Companies, 9195 Torbram Rd., Brampton, Ont., L6S 6H2, by telephone at 905-791-3151, extension 4312, or by e-mail at [email protected], or from National Bank Financial Inc. at 130 King St. W (fourth floor podium), Toronto, Ont., M5X 1J9, by telephone at 416-869-8414 or e-mail at [email protected]. The shelf prospectus, prospectus supplement and the documents incorporated therein contain important, detailed information about the company and the proposed offering. Prospective investors should read these documents before making an investment decision. About Rogers Sugar Inc. Rogers is a corporation established under the laws of Canada. The corporation holds all of the common shares of Lantic and its administrative office is in Montreal, Que. Lantic operates cane sugar refineries in Montreal, Que., and Vancouver, B.C., as well as the only Canadian sugar beet processing facility in Taber, Alta. Lantic also operate a distribution centre in Toronto, Ont. Lantic's sugar products are mainly marketed under the Lantic trademark in Eastern Canada and the Rogers trademark in Western Canada, and include granulated, icing, cube, yellow and brown sugars, liquid sugars, and specialty syrups. Lantic owns all of the common shares of Lantic Maple Inc. (formerly known as The Maple Treat Corp.) and its head office is headquartered in Montreal, Que. Lantic Maple operates bottling plants in Granby, Degelis and in St-Honore-de-Shenley, Que., and in Websterville, Vt. Lantic Maple products include maple syrup and derived maple syrup products supplied under retail private-label brands in approximately 50 countries and sold under various brand names. We seek Safe Harbor.