Mr. Alain Bedard reports

TFI INTERNATIONAL COMPLETES PREVIOUSLY ANNOUNCED DASEKE ACQUISITION FOR US $8.30 IN CASH PER COMMON SHARE AND CLOSES ON US $500 MILLION TERM LOAN

TFI International Inc. has closed on the previously announced acquisition of Daseke Inc., one of the leading flatbed and specialized transportation and logistics companies in North America, for $8.30 (U.S.) in cash per common share. The total enterprise value of the transaction is approximately $1.1-billion (U.S.), including the merger consideration for the common stock, redemption of Daseke's Series B preferred stock, payoff or assumption of Daseke's Series A preferred stock and outstanding debt, net of cash, and estimated transaction fees and expenses.

In addition, on March 22, 2024, TFI International closed on a $500-million (U.S.) term loan in an overcommitted transaction priced at a spread of SOFR (secured overnight financing rate) plus a range of 140 to 165 basis points, to vary over time depending on the company's financed debt to EBITDA (earnings before interest, taxes, depreciation and amortization) ratio, and consisting of three tranches, including a one-year facility of $100-million (U.S.) maturing March, 2025, a two-year facility of $100-million (U.S.) maturing March, 2026, and a three-year facility of $300-million (U.S.) maturing March, 2027. Participating banks included National Bank of Canada, Royal Bank of Canada, Bank of America, North America, Toronto-Dominion Bank, Bank of Montreal, PNC Bank, North America, U.S. Bank National Association, Morgan Stanley Bank, North America, and Goldman Sachs.

About TFI International Inc.

TFI International is a North American leader in the transportation and logistics industry, operating across the United States and Canada through its subsidiaries. TFI International creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly owned operating subsidiaries. Under the TFI International umbrella, companies benefit from financial and operational resources to build their businesses and increase their efficiency. TFI International companies service the following segments:

• Package and courier;
• Less than truckload;
• Truckload;
• Logistics.

TFI International is publicly traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol TFII.