Mr. Laurence Boucicault reports

PROAMPAC HOLDINGS INC.'S ACQUISITION OF THE PACKAGING BUSINESS OF TC TRANSCONTINENTAL UPDATE

In connection with the proposed acquisition by ProAmpac Holdings Inc. of all of the issued and outstanding shares of the share capital of the entities that carry on the business of Transcontinental Inc.'s (TC Transcontinental) packaging sector, the waiting periods under the Competition Act (Canada) and the Hart-Scott Rodino Antitrust Improvements Act of 1976 (USA), as amended, have either expired or been terminated.

The corporation expects that, subject to the satisfaction of customary conditions, the transaction will close on March 6, 2026.

About Transcontinental Inc. (TC Transcontinental)

TC Transcontinental is a North American leader in flexible packaging, a Canadian retail marketing services provider, Canada's largest printer and the Canadian leader in French-language educational publishing. Founded in 1976, 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.

TC Transcontinental has approximately 7,600 employees, the majority of which are based in Canada, the United States and Latin America. TC Transcontinental generated revenues of $2.7-billion during the fiscal year ended Oct. 26, 2025.