Maple Leaf Foods Management Information Circular Now Available

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May 12, 2025, 17:10 ET

Maple Leaf Foods' Board of Directors recommends shareholders vote FOR the spin-off of Canada Packers Inc., a new independent public company, and FOR all other meeting resolutions
Shareholders who have questions about the meeting resolutions or need assistance with voting should contact Maple Leaf Foods' proxy solicitation agent, Laurel Hill Advisory Group, by telephone at 1-877-452-7184 or by email at [email protected].

MISSISSAUGA, ON, May 12, 2025 /PRNewswire/ - Maple Leaf Foods Inc. ("Maple Leaf Foods" or the "Company") (TSX: MFI) today announced that it has filed its 2025 Notice of Annual and Special Meeting of Shareholders and Management Information Circular (the "Circular") with securities regulators. The meeting is scheduled to take place on Wednesday, June 11, 2025 at 9:00 a.m. (ET) (the "Meeting"). The Meeting is being hosted in a hybrid structure, meaning that shareholders may attend virtually by a live video webcast or in person at ThinkFood!, 6897 Financial Drive, Mississauga, Ontario, Canada.

Shareholders are encouraged to review the Circular as it contains important information about the Meeting, including:

the election of Maple Leaf Foods' directors,
the appointment of the Company's auditors,
the approval of the spin-off of the Company's pork operations by way of plan of arrangement to form Canada Packers Inc., a new independent publicly traded company (the "Transaction"),
the approval of the Canada Packers Option Plan (subject to the approval of the Transaction), and
Maple Leaf Foods' approach to executive compensation.

If the Transaction is approved, and subject to satisfaction of the other closing conditions, Maple Leaf Foods will enter a bold new chapter as a focused, purpose-driven, and protein-centric consumer packaged goods company, and Canada Packers Inc. will emerge as a new independent public company that will be unleashed as a global leader in sustainably produced, premium quality, value-added pork with diversified sales mix and global reach. Both companies will be uniquely positioned to meet the world's growing demand for sustainable protein, creating value for all stakeholders.

Notice and Access

The Company is again using "Notice and Access" to deliver the Circular and related meeting materials, including its 2024 Annual Financial Statements, by providing shareholders with notice of availability and access to the materials online at www.mapleleaffoods.com and on SEDAR+ at www.sedarplus.ca. Notice and Access is an environmentally friendly and cost-effective way to distribute these materials since it reduces printing, paper and postage.

Please see below for links to the Notice and Circular:

Management Information Circular

Notice and Access Letter

Shareholders are encouraged to cast their votes early by proxy and to check the Maple Leaf Foods website at www.mapleleaffoods.com for additional information about the Annual Meeting. Instructions for shareholders wishing to request paper copies of any of the meeting materials are included in the Notice. The deadline for voting your shares is at of 9:00 a.m. (ET) on June 9, 2025.

Shareholder Questions

Shareholders who have questions or need assistance with voting their shares may contact Maple Leaf Foods' shareholder communications advisor and proxy solicitation agent:

Laurel Hill Advisory Group
Toll Free: 1-877-452-7184 (for shareholders in North America)
International: +1 416-304-0211 (for shareholders outside Canada and the US)
By Email: [email protected]

About Maple Leaf Foods

Maple Leaf Foods is a leading protein company responsibly producing food products under leading brands including Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, 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).

Forward-Looking Statements

This document contains, and the Company's oral and written public communications often contain, "forward-looking information" within the meaning of applicable securities law. These statements are based on current expectations, estimates, projections, beliefs, judgements and assumptions based on information available at the time the applicable forward-looking statement was made and in light of the Company's experience combined with its perception of historical trends. Such statements include, but are not limited to, statements with respect to objectives and goals, in addition to statements with respect to timing, execution, implications, benefits, risks, returns, opportunities, structure, approvals, value proposition and business model associated with the proposed separation of the Company into two independent public companies, as well as the Company's overall plans, actions and strategies. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "could", "would", "believe", "plan", "intend", "design", "target", "undertake", "view", "indicate", "maintain", "explore", "entail", "schedule", "objective", "strategy", "likely", "potential", "outlook", "aim", "propose", "goal", and similar expressions suggesting future events or future performance. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict.

Specific forward-looking information in this document may include, but is not limited to statements with respect to: the Transaction; the benefits of the Transaction; the timing and business of the Meeting; the receipt of shareholder approval and satisfaction of the other closing conditions, in respect of the Transaction.

These statements are based on and were developed using a number of assumptions including, but not limited to expectations and assumptions concerning the completion and expected benefits of the Transaction. Readers are cautioned that these assumptions may prove to be incorrect in whole or in part and actual results may differ materially from those anticipated in any forward-looking statements.

Factors that could cause actual results or outcomes to differ materially from the results expressed, implied, or projected in the forward-looking statements contained in this document include, among other things, risks associated with the following: the Transaction not proceeding as expected, including as a result of regulatory, market or other factors; the conditions of the Transaction not being satisfied, approvals or rulings not being secured on acceptable terms or at all; the possibility that the Transaction will not be completed within the anticipated time period or at all; and other factors as set out under the heading "Risk Factors" in the Company's Management Discussion and Analysis for the year ended December 31, 2024, which is available on SEDAR+ at www.sedarplus.ca. The Company cautions readers that the foregoing list of factors is not exhaustive.

All forward-looking statements included herein speak only as of the date hereof. Unless required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements contained herein are expressly qualified by this cautionary statement.

SOURCE Maple Leaf Foods Inc.