Mr. Curtis Frank reports

MAPLE LEAF FOODS ANNOUNCES 2026 FINANCIAL GUIDANCE AND DIVIDEND INCREASE

Maple Leaf Foods Inc. has released its 2026 financial guidance, reflecting sustained operational momentum, disciplined capital management, and strategic focus as a purpose-driven, protein-centric and brand-led consumer packaged goods leader.

Strategic and operational guidance highlights

The company expects the following for fiscal 2026:

• Revenue growth: Mid-single-digit (MSD) increase in revenue from 2025, driven by the execution of proven growth strategies, including leveraging leadership in sustainable meats, investing in its portfolio of consumer-leading brands, accelerating the pace of impactful innovation, expanding reach in the United States market and deeper integration into customer strategies along with strong and growing consumer demand for protein.
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization): Approximately $520-million to $540-million, driven by revenue growth and margin improvement from operational discipline as well as the benefits of the company's fuel for growth initiative.
• Investment-grade balance sheet: Maintain an investment grade balance sheet with net debt/adjusted EBITDA below 3.0 times supported by strong free cash flow and prudent capital allocation.
• Disciplined capital investment: Approximately $160-million to $180-million in spend, focused on maintenance and productivity enhancement investments, driving efficiency, and enabling future growth, through technology and automation.
• Dividend growth: An approximately 10-per-cent increase in the quarterly dividend, from 19 cents to 21 cents per share, underscoring Maple Leaf Foods' commitment to delivering shareholder returns.

"Our 2026 outlook captures the momentum and operational strength we've built through the consistent execution of our strategic blueprint and the resilience of our leading brands," said Curtis Frank, president and chief executive officer. "Following a year of transformational financial performance, we are increasing our annual dividend by 10 per cent, marking our 11th consecutive annual increase. This reflects our confidence in our ability to grow the business, expand margins and generate strong free cash flow as we continue to create meaningful value for shareholders. Looking ahead, our disciplined approach to operational execution and capital allocation positions us to deliver sustained organic growth, reinvest in our business and pursue strategic opportunities as we advance our vision to be the most sustainable protein company on earth."

Commitment to shareholder returns

Following the special dividend in 2025, the board has approved an approximately 10-per-cent increase in the quarterly dividend for 2026 from 19 cents per share to 21 cents per share, or 84 cents per share annually, underscoring Maple Leaf Foods' balanced approach to capital allocation and long-standing commitment to shareholder returns. The first quarter dividend of 21 cents per common share will be payable on March 31, 2026, to shareholders of record at the close of business on March 9, 2026. Unless indicated otherwise by the company at or before the time the dividend is paid, the dividend will be considered an eligible dividend for the purposes of the enhanced dividend tax credit system.

The company's dividend reinvestment plan (DRIP) permits eligible shareholders to direct their cash dividends to be reinvested in additional common shares of the company. For those who wish to reinvest their dividends under the DRIP, Maple Leaf Foods intends to issue common shares from treasury at a price equal to 100 per cent of the weighted average closing price of the shares for the five trading days preceding the dividend payment date. Full details of the DRIP, including how to enroll in the program, are available at the Maple Leaf website.

Maple Leaf Foods has a long-standing record of returning capital to shareholders, including 11 consecutive years of annual dividend increases and an active NCIB (normal course issuer bid) program. Since 2022, the company has returned approximately $600-million to shareholders through dividends and share buybacks, and is committed to maintaining leverage well within its investment-grade target range. The company will continue to evaluate all capital return opportunities, including share buybacks and dividends, as part of its disciplined approach.

Ongoing guidance and investor day

Maple Leaf Foods is committed to providing annual guidance to the market, reflecting the company's focus on transparency, accountability and stakeholder engagement. The 2026 outlook is supported by sustained progress on key initiatives, continued margin expansion and a sharpened strategic focus following the Canada Packers spinoff. Additional details on long-term strategy, operational initiatives and capital allocation priorities will be shared at the upcoming investor day on March 10, 2026. A live webcast and presentation materials will be available on the company's website.

The company will release its fourth quarter 2025 financial results on March 5, 2026.

About Maple Leaf Foods Inc.

Maple Leaf Foods is a leading, protein-focused consumer packaged goods company headquartered in Mississauga, Ont. It proudly produces responsibly made, delicious food under powerhouse brands that include Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Mina, Greenfield Natural Meat Co., LightLife and Field Roast. Committed to raising the good in food and bringing customers protein with purpose, Maple Leaf Foods delivers shared value for all its stakeholders by leading the way in safety and sustainability, building loved brands, operating with excellence, developing extraordinary talent, and broadening its impact through innovation and geographic reach.

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