Mr. Curtis Frank reports

MAPLE LEAF FOODS ANNOUNCES NEW CHIEF FINANCIAL OFFICER; DAVID SMALES TO JOIN AS CFO EFFECTIVE JANUARY 29, 2024 AS GEERT VERELLEN STEPS DOWN

Maple Leaf Foods Inc.'s Geert Verellen has decided to step down as chief financial officer in the new year and the company has named David Smales as his successor starting Jan. 29, 2024.

"As we planned for this transition, finding the right successor for Geert was a critical priority for us," said Curtis Frank, president and chief executive officer. "Geert has made a significant impact over the last four years, including playing an important role in leading us through one of the most ambitious capital investment programs in our history. On behalf of the entire company, we thank Geert for his leadership, and wish him all the best in the next phase of his career."

"In our search for a new CFO, we actively sought someone with David's breadth of experience, blending strong financial acumen with long-term strategic planning skills and a deep understanding of Canadian capital markets," continued Mr. Frank. "We are thrilled that David will be joining our senior leadership team, and certain he will be a great addition to Maple Leaf Foods as we execute our strategic blueprint on the journey to becoming the most sustainable protein company on Earth."

Mr. Smales comes to Maple Leaf Foods with a long record as a public company CFO, including almost 15 years as executive vice-president and CFO at Aecon Group Inc. Prior to Aecon, Mr. Smales was CFO at Catalyst Paper Corp., and has decades of international and transactional experience at PricewaterhouseCoopers and Novar PLC. Mr. Smales is a member of the Institute of Chartered Accountants in England and Wales and has a bachelor of arts (honours) degree from the Newcastle University upon Tyne in England.

About Maple Leaf Foods Inc.

Maple Leaf Foods is a carbon-neutral company with a vision to be the most sustainable protein company on Warth, 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 14,000 people and does business primarily in Canada, the United States and Asia. The company is headquartered in Mississauga, Ont.