Saputo Inc. Announces the Renewal of its Normal Course Issuer Bid

Core Viewpoint - Saputo Inc. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB) to repurchase up to 5% of its outstanding common shares, reflecting the company's commitment to returning capital to shareholders while maintaining flexibility for growth opportunities [1][2]. Group 1: NCIB Details - Under the renewed NCIB, Saputo may purchase up to 20,498,278 common shares, which is 5% of its 409,965,571 issued shares as of November 7, 2025 [2]. - The NCIB will be effective for one year, starting November 19, 2025, and ending no later than November 18, 2026 [2]. - Daily purchases will be limited to 154,649 common shares based on the average daily trading volume of 618,596 shares over the last six months [2]. Group 2: Automatic Purchase Plan - Saputo has established an automatic purchase plan (APP) to facilitate share repurchases during self-imposed blackout periods, effective from November 19, 2025 [3]. - The APP has been pre-cleared by the TSX and will terminate alongside the NCIB [3]. Group 3: Previous NCIB Performance - Under the current NCIB that began on November 19, 2024, Saputo received approval to repurchase up to 21,217,922 common shares, of which 15,062,184 shares were purchased by November 7, 2025, at an average price of $27.39 per share, totaling $413 million [4]. Group 4: Capital Allocation Strategy - Share repurchases are part of Saputo's broader capital allocation strategy, which includes capital expenditures, dividends, and debt reduction [5]. - The company believes that repurchasing its own shares may be a responsible allocation of cash under appropriate circumstances [5]. Group 5: Company Overview - Saputo is one of the top ten dairy processors globally, producing a wide range of dairy products, including cheese and fluid milk [6]. - The company ranks among the top cheese producers in the USA and is a leading dairy processor in Canada, Australia, and Argentina [6].