MAPLE LEAF FOODS ANNOUNCES REFRESHED STRATEGIC BLUEPRINT, APPOINTS ADAM GROGAN AND CASEY RICHARDS TO NEW EXECUTIVE ROLES

TSX:  MFI
www.mapleleaffoods.com 

Adam Grogan named as Chief Operating Officer and Casey Richards moves into the role of President, Maple Leaf Foods USA

MISSISSAUGA, ON, Feb. 22, 2024 /PRNewswire/ - Maple Leaf Foods, Inc. ("Maple Leaf Foods" or the "Company") (TSX: MFI) today announced an update to the Company's strategic focus and a realignment of its organizational structure, including several executive changes.

"For the past five years, our vision to be the most sustainable protein company on earth has been our north star and raising the good in food is what gives us purpose every day," said Maple Leaf Foods CEO, Curtis Frank. "As our business shifts from an intensive phase of investing in building and commissioning new plants to realizing the benefits of our world-class network, the time is appropriate to refine the strategies that underpin our Purpose and Vision through an evolved strategic Blueprint."

The Company unveiled its new, evolved Blueprint, which acts as a strategic compass for the organization.

The Blueprint outlines the Company's five core strategies in its pursuit of delivering shared value for its stakeholders;

• Lead the Way – By making better food, taking better care and nurturing a better planet
• Build Loved Brands – By growing consumer relevance, delivering impactful innovation and leveraging our unique capabilities
• Broaden our Impact – By extending our geographic reach, developing new channels and categories and diversifying our protein portfolio
• Operate with Excellence – By harnessing advanced technologies, applying data science and analytics and driving cost efficiency
• Develop Extraordinary Talent – By embedding our values-based culture, investing in future-ready leaders and inspiring enduring engagement

In order to execute the strategies outlined in the Blueprint, the Company will bring its Meat and Plant Protein businesses together under a single umbrella through a refreshed organizational structure that supports its core strategies, optimizes its growth potential in key markets and provides clear accountabilities.

"The evolution of our Blueprint serves to bring clarity and focus to the entire company around how we will deliver on the core strategies that will propel Maple Leaf Foods forward," said Frank. "As an integrated protein company, we have tremendous opportunities ahead of us. Together we are a powerhouse, and we will leverage our combined strength to build our brands in Canadian, U.S. and international markets."

Adam Grogan has been promoted to the role of Chief Operating Officer, effective immediately. Adam has overall responsibility for leading Prepared Foods, including Prepared Meats, Poultry, and Plant Protein; and the supply chain network across Canada and the United States. Adam has been with Maple Leaf Foods for more than 25 years in diverse roles and brings a wide spectrum of experience in both operational and commercial leadership roles.

Casey Richards assumes the newly-created role of President, Maple Leaf Foods USA. Casey is responsible for leading the Company's growth in this critical, high potential market, including retail and foodservice. Casey has more than 20 years of global marketing and general management experience, including the last six years with Maple Leaf Foods. He brings a tremendous depth and breadth of North American food industry experience having worked for some of North America's largest food companies.

These appointments are effective immediately. 

About Maple Leaf Foods Inc. Maple Leaf Foods is a carbon neutral company with a vision to be the most sustainable protein company on earth, responsibly producing food products under leading brands including Maple Leaf^®, Maple Leaf Prime^®, Maple Leaf Natural Selections^®, Schneiders^®, Schneiders^® Country Naturals^®, Mina^®, Greenfield Natural Meat Co.^®, Lightlife^® and Field Roast™. The Company employs approximately 13,500 people and does business primarily in Canada, the U.S. and Asia. The Company is headquartered in Mississauga, Ontario and its shares trade on the Toronto Stock Exchange (MFI). 

This document may contain "forward-looking information" within the meaning of applicable securities law. These statements are not guarantees of future events and involve assumptions and risks and uncertainties that are difficult to predict. Some of these assumptions and risks and uncertainties are described in more detail in the Company's filings made with the securities regulatory authorities in Canada which are available on SEDAR+ at www.sedarplus.ca. Actual results may differ materially from those expressed, implied or forecasted in such forward-looking information. Maple Leaf does not intend to, and Maple Leaf disclaims any obligation to, update any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. 

SOURCE Maple Leaf Foods Inc.