Maple Leaf Foods Confirms System Outage Linked to Cybersecurity Incident

TSX: MFI
www.mapleleaffoods.com

MISSISSAUGA, ON, Nov. 6, 2022 /PRNewswire/ - Maple Leaf Foods Inc. (TSX: MFI) ("Maple Leaf Foods" or the "Company"), today confirmed that it is currently experiencing a system outage linked to a cybersecurity incident. 

Upon learning of the incident, Maple Leaf Foods took immediate action and engaged cybersecurity and recovery experts.  Its team of information systems professionals and third-party experts are working diligently with all available resources to investigate the outage and resolve the situation.   The Company is executing its business continuity plans as it works to restore the impacted systems; however, it expects that full resolution of the outage will take time and result in some operational and service disruptions.  The Company will continue to work with all its customers and suppliers to minimize these disruptions in order to continue delivering the nutritious food people need.  

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™. Maple Leaf Foods employs approximately 14,000 people and does business 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 release contains statements, made by representatives of the Company in connection with this release, may contain forward-looking statements within the meaning of applicable securities law. These statements are based on current expectations, estimates, forecasts, and projections about the industries in which the Company operates, as well as beliefs and assumptions made by Management of the Company.  Such statements include, but are not limited to, statements with respect to the nature and cause of the systems outage, the impact on its operations, service levels and business continuity.

These statements are based on and were developed using a number of factors and assumptions including, but not limited to the timing and complexity of restoring impacted systems, the ability to operate without these systems, third party activities, ongoing impacts, customer, consumer and supplier responses and regulatory considerations.  Although these assumptions were considered reasonable by the Company at the time of preparation they may prove to be incorrect in whole or in part. In addition, actual results may differ materially from those expressed, implied or forecasted in such forward-looking statements, which reflect the Company's expectations only as of the date hereof.  Readers are cautioned not to place undue reliance on forward-looking statements, as such statements are not guarantees of future performance.

Factors that could cause actual results or outcomes to differ materially from the results expressed, implied or forecasted by the forward-looking statements include risks and timing associated with systems recovery, actions of third parties, the effectiveness of business continuity planning and execution, ability to continue to operate, actions third parties and actions of customers, suppliers and consumers. Additional factors that could cause actual results or outcomes to differ materially from the results expressed, implied or forecasted by the forward-looking statements are discussed more fully in the Company's filings made with the Canadian securities regulators including in the section entitled "Risk Factors" in the Company's Management's Discussion and Analysis for the year ended December 31, 2021. All such filings are available on SEDAR at www.sedar.com.

The Company does not intend to, and the Company disclaims any obligation to, update any forward-looking statements (including any financial outlooks), whether written or oral, or whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Maple Leaf Foods Inc.