Mr. Sean Washchuk reports

CCL INDUSTRIES INC. ANNOUNCES TSX ACCEPTANCE OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted a notice filed by CCL Industries Inc. to commence a normal course issuer bid. Under the bid, the company is authorized to acquire up to 14.5 million of its Class B non-voting shares, being approximately 9.94 per cent of the public float of the Class B non-voting shares as of May 15, 2023. No bid is proposed to be made for the company's Class A voting shares.

All purchases will be made through the facilities of and in accordance with the rules of the TSX and all shares purchased will be cancelled. Except where reliance is placed on the TSX's block purchase exemption, the maximum number of shares that could be purchased under the Bid on any trading day will be limited to 64,005 Class B non-voting shares. The average daily trading volume for the six-month period ended April 30, 2023, was 256,023 Class B non-voting shares.

The bid will commence on May 25, 2023, and end no later than May 24, 2024. CCL's management believes that such purchases are an appropriate and desirable use of available funds.

Pursuant to a previous notice of intention to conduct a normal course issuer bid, under which the company sought and received approval from the TSX to purchase up to 14.5 million Class B non-voting shares for the period of May 25, 2022, to May 24, 2023, the company has purchased, as of May 15, 2023, 1,224,447 Class B non-voting shares on the open market at an average purchase price of $60.06 per share. As of May 15, 2023, the issued and outstanding number of Class B non-voting shares was 165,728,767 and the public float of the Class B non-voting shares was 145,924,421. Purchases were made through the facilities of the TSX and all shares purchased were cancelled.

About CCL Industries Inc.

CCL Industries employs approximately 25,300 people operating 205 production facilities in 43 countries with corporate offices in Toronto, Canada, and Framingham, Mass. CCL is the world's largest converter of pressure-sensitive and specialty extruded film materials for a wide range of decorative, instructional, functional and security applications for government institutions and large global customers in the consumer packaging, health care and chemicals, consumer electronic device and automotive markets. Extruded and laminated plastic tubes, aluminum aerosols and specialty bottles, folded instructional leaflets, precision decorated and die-cut components, electronic displays, polymer banknote substrate, and other complementary products and services are sold in parallel to specific end-use markets. Avery is the world's largest supplier of labels, specialty converted media and software solutions for short-run digital printing applications for businesses and consumers available alongside complementary products sold through distributors, mass-market stores and e-commerce retailers. Checkpoint is a leading developer of RF (radio frequency) and RFID (radio frequency identification) based technology systems for loss prevention and inventory management applications, including labelling and tagging solutions, for the retail and apparel industries worldwide. Innovia is a leading global producer of specialty, high performance, multilayer, surface engineered films for label, packaging and security applications. The company is partly backward integrated into materials science with capabilities in polymer extrusion, adhesive development, coating and lamination, surface engineering and metallurgy -- deployed as needed across the four business segments.

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