Mr. Nicholas Estrela reports

SAPUTO ENTERS AGREEMENT TO SELL ITS UNITED KINGDOM OPERATIONS

Saputo Inc. has entered into a definitive agreement with B.S.A SAS (Lactalis) to sell its dairy division (United Kingdom), valuing the business at an enterprise value of approximately 988 million pounds sterling. The closing of the transaction is expected to occur by the end of the first quarter of calendar 2027, subject to certain customary closing conditions, including the receipt of applicable regulatory approvals.

The transaction includes five manufacturing facilities as well as local brands, including Cathedral City, Wensleydale, Davidstow, Clover and Country Life. Over the last four quarters, the dairy division (U.K.) generated approximately $1.2-billion of revenues, which represented approximately 7 per cent of consolidated revenues.

"Today's announcement reflects a disciplined step to refine our global footprint and sharpen our focus on platforms where Saputo competes from a position of strength," said Carl Colizza, president and chief executive officer. "The value to be realized recognizes the expertise of the U.K. team, the quality of the operations and the market position of these leading brands. This transaction reinforces our strategic focus and enhances our financial flexibility as we continue to create long-term shareholder value through disciplined capital allocation.

"We are profoundly grateful to our colleagues in the United Kingdom for their dedication and contributions to Saputo. We look forward to seeing these strong assets and brands continue to build on their market positions under new ownership."

The proceeds from the transaction are expected to further enhance the company's financial flexibility and provide additional capacity to accelerate growth. Consistent with its disciplined capital allocation framework, the company will actively evaluate opportunities to deploy capital in support of its strategic priorities, including organic investments and capital projects, and strategic acquisitions, while maintaining a focus on attractive returns and long-term value creation.

About Saputo Inc.

Saputo, one of the top 10 dairy processors in the world, produces, markets and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients. Saputo is a leading cheese manufacturer and fluid milk and cream processor in Canada, and a leading dairy processor in Australia. In the United States, Saputo is a leading cheese producer and extended shelf-life and cultured dairy products manufacturer. Prior to the contemplated sale, Saputo is the leading manufacturer of branded cheese and dairy spreads in the United Kingdom. In addition to its dairy portfolio, Saputo produces, markets and distributes a range of dairy alternative products. Saputo products are sold in several countries under market-leading brands, as well as private label brands. Saputo is a publicly traded company, and its shares are listed on the Toronto Stock Exchange under the symbol SAP.

An anonymous director reports