Mr. Luc Menard reports

NATIONAL BANK PRIVATE INVESTMENT INVESTS IN THE INDUSPAC GROUP AND BECOMES A SHAREHOLDER

National Bank of Canada's National Bank Private Investment has become a shareholder of the Induspac Group, a Canadian leader in the design and manufacturing of customized industrial packaging.

The company will be able to count on National Bank to maximize development opportunities and solidify its position in a sector with high potential.

The Induspac Group includes the GAB Packaging plant in Candiac, the JP Carton plant in Longueuil, and the Smith Packaging plants in Ottawa and Mississauga. The group has been in business for over 50 years and is headed by Luc Guertin. It employs more than 300 people and boasts around 400,000 square feet of manufacturing facilities. The company's 1,000 clients range from SMEs (small to medium-sized enterprises) to large multinationals and are drawn mainly from the manufacturing industry in Quebec and Ontario.

"By making this investment and becoming a shareholder, we will be able to maximize the company's development and position ourselves in the recyclable packaging sector, which has high-growth potential. Our team will support the rollout of the company's strategic plan, which will build on its strengths and market opportunities that arise," said Luc Menard, executive vice-president, managing director and head of private investments at National Bank.

"Gaining a major partner like NBPI will allow us to strengthen our foundations and continue developing our company by seizing business opportunities," said Mr. Guertin, president and chief executive officer of the Induspac Group.

About National Bank of Canada

With $418-billion in assets as at April 30, 2023, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has approximately 30,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange.