Ms. Isabelle Marcoux reports

EXECUTIVE CHANGES AT TC TRANSCONTINENTAL

The board of directors of Transcontinental Inc. has appointed Thomas Morin as president and chief executive officer (CEO), effective immediately. Mr. Morin previously served as president of TC Transcontinental Packaging, beginning in 2019. He replaces Peter Brues, who is leaving the company. The board also announced expanded roles for Isabelle Marcoux and Donald LeCavalier.

"We welcome Thomas Morin as president and CEO as we continue our profitable and sustainable growth journey," said Ms. Marcoux, executive chair of the board of TC Transcontinental. "As a respected and focused leader with strong manufacturing operational excellence and people management skills, with a solid track record leading our packaging sector and integrating our numerous acquisitions, he is a natural choice to lead the company at this juncture. The board looks forward to working closely with him as we seek to sustain organic growth, optimize our return on assets and deleverage our balance sheet while pursuing our sustainability agenda."

"I thank the board of directors and the Marcoux family for their trust, and I am thrilled by the opportunity to contribute to all of TC Transcontinental's businesses," said Mr. Morin. "I look forward to working closely with the board and the company's strong executive team, with whom I've had the privilege to work for four years, as we continue to implement our company's growth plans and sustainability agenda. I know I can count on TC Transcontinental's unique team, culture and entrepreneurial spirit."

"The board of directors thanks Peter Brues for his contribution over the years with the company, first as a board member, and then as president and CEO, guiding TC Transcontinental through a challenging period while seizing growth opportunities," stated Ms. Marcoux. "We are grateful for his dedication and commitment."

The board of directors also announced that Ms. Marcoux, chair of the board, becomes executive chair of the board, with oversight of strategy and corporate development. Since joining TC Transcontinental in 1997, Ms. Marcoux has played a key strategic role in the consolidation of the Canadian printing market, the company's successful entry into packaging, and its growth through acquisitions in all three sectors, packaging, printing and media. She has been chair of the board since 2012.

Mr. LeCavalier, chief financial officer (CFO), will take on an expanded role as executive vice-president and CFO. "Donald has a deep understanding of TC Transcontinental's businesses," observed Ms. Marcoux. "Over his 17 years with the company, he has become a trusted adviser for the leadership team and for the board, and a key senior executive. I look forward to working closely with Thomas and Donald in creating value for all of our stakeholders," she concluded.

Mr. Morin

Mr. Morin brings more than 27 years of international packaging experience to the table. Prior to joining TC Transcontinental, he spent 13 years at the helm of $1-billion-plus companies, overseeing thousands of employees located in dozens of factories around the world. From 2017 to 2019, he served as vice-president of Southeast Asia for Amcor Flexible Packaging, Asia Pacific, in Singapore. Previously, he also held the position of vice-president of strategy, mergers and acquisitions for Amcor Flexible Packaging, Europe. From 2010 to 2015, following the Alcan Packaging acquisition by Amcor, he served as vice-president and general manager of fresh products and capsules for Amcor Flexible Packaging, Europe, in Zurich. From 2007 to 2009, he was vice-president and general manager, dairy, for Alcan Flexible Packaging, Europe, in Paris. He also worked at Pechiney Emballage Flexible, Europe, OTOR and Arthur Andersen in France.

A French citizen, Mr. Morin holds a degree in finance and control management from Ecole superieure de commerce of Lyon (EM Lyon), in France. He is fluent in French, English and Spanish.

About Transcontinental Inc.

Transcontinental, known as TC Transcontinental, is a leader in flexible packaging in North America, and Canada's largest printer in Canada. The corporation is also the leading Canadian French-language educational publishing group. For over 45 years, TC Transcontinental's mission has been to create quality products and services that allow businesses to attract, reach and retain their target customers.

Respect, teamwork, performance and innovation are the strong values held by the corporation and its employees. TC Transcontinental's commitment to its stakeholders is to pursue its business activities in a responsible manner.

Transcontinental has more than 8,000 employees, the majority of which are based in Canada, the United States and Latin America. TC Transcontinental generated revenues of $3-billion during the fiscal year ended Oct. 30, 2022.