Mr. John Glynn reports

RICHARDS PACKAGING INCOME FUND ANNOUNCES FILING OF MEETING MATERIALS AND RECEIPT OF INTERIM ORDER WITH RESPECT TO ITS CONVERSION TO A CORPORATION

Richards Packaging Income Fund has filed its notice of meeting, management information circular, form of proxy, letter of transmittal, and notice of notice and access with respect to the special meeting of the unitholders of the fund called to consider and vote upon: (i) the proposed conversion of the fund from an unincorporated, open-ended, limited purpose trust to a corporation, pursuant to a statutory plan of arrangement involving Richards Group Inc. under the Business Corporations Act (Ontario) and the Trustee Act (Ontario); and (ii) the adoption of a security-based compensation plan by RGI.

The fund has elected to use the notice-and-access provisions under National Instrument 54-101 (Communication with Beneficial Owners of Securities of a Reporting Issuer) and National Instrument 51-102 (Continuous Disclosure Obligations) for the distribution of the meeting materials to registered and beneficial unitholders. Electronic copies of the meeting materials may be accessed on the fund's website and on the fund's SEDAR+ profile. Printed copies of the meeting materials are available by contacting TSX Trust Company by phone at 1-888-433-6443 or 416-682-3801 or by e-mail at tsxt-fulfilment@tmx.com. To receive a paper copy in time to vote before the meeting, your request should be received by Nov. 25, 2025.

The meeting will be held at 10 a.m. Toronto time on Thursday, Dec. 11, 2025, at the offices of the fund, 6155 Belgrave Rd., Unit 3, Mississauga, Ont., L5R 4E6, and pursuant to an interim order of the Ontario Superior Court of Justice received on Oct. 23, 2025. Subject to the receipt of applicable approvals, including, but not limited to, court approval, approval of the unitholders and approval of the Toronto Stock Exchange, the plan is expected to be effective on or around Dec. 19, 2025.

About Richards Packaging Income Fund

The fund owns Richards Packaging Inc., which since 1912 has served a wide customer base of over 18,000 health care, cosmetic, food and beverage, and other enterprises. Richards has over a century of rich history as a packaging distributor, and, over the past decade, has evolved a medical device and supplies operation that now drives the majority of the business.

We seek Safe Harbor.