Maple Leaf Foods Receives Tsx Approval to Proceed With Normal Course Issuer Bid

Maple Leaf Foods Inc. (the "Company") (TSX: MFI) today announced that the Toronto Stock Exchange (the "TSX") has accepted the notice filed by the Company to establish a normal course issuer bid ("NCIB") program.

The NCIB program commences on March 13, 2026 and will terminate on March 12, 2027, or on such earlier date as the Company may complete its purchases pursuant to a Notice of Intention filed with the TSX.  Under the NCIB program, the Company is authorized to purchase up to 7,300,000 of its common shares (out of the 124,642,411 common shares outstanding as at March 2, 2026 and representing 9.73% of the public float of 74,997,436 common shares as at March 2, 2026), by way of normal course purchases effected through the facilities of the TSX and/or alternative Canadian trading systems. Daily purchases on the TSX will be limited to a maximum of 76,396 common shares, representing 25% of the average daily trading volume on the TSX for the six months ended February 28, 2026 (being 305,586 common shares), except where purchases are made in accordance with the "block purchase exception" of the TSX rules. All common shares purchased by the Company under the NCIB will be cancelled.  Pursuant to the terms of a previous normal course issuer bid approved by the TSX on March 11, 2025, the Company repurchased an aggregate of 658,800 common shares on the TSX and on alternative Canadian trading systems during such normal course issuer bid at a weighted average price of $28.74 per share for cancellation during the period commencing on March 13, 2025 and ending on March 10, 2026. The Company's prior NCIB for the purchase of up to 7,400,000 common shares will expire on March 12, 2026.