MEMBERS OF THE SAPUTO FAMILY AND CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC PURCHASE 40 MILLION COMMON SHARES OF SAPUTO INC.

MONTREAL, Sept. 30, 2024 /CNW/ - 11446037 Canada Inc., a wholly-owned subsidiary of Jolina Capital Inc., Mr. Emanuele (Lino) Saputo, other members of the Saputo family and an affiliate of Caisse de dépôt et placement du Québec ("CDPQ") today announced that they have entered into agreements to purchase an aggregate of 40,000,000 common shares (the "Purchased Shares") of Saputo Inc. (the "Corporation") from an indirect wholly-owned subsidiary of Placements Italcan Inc. (the "Seller"), an entity controlled by Mr. Francesco Saputo (the "Transaction").

11446037 Canada Inc. is a wholly-owned subsidiary of Jolina Capital Inc., a holding company controlled by Mr. Emanuele (Lino) Saputo, who also has direction of the holding companies of other family members. Prior to the Transaction, Emanuele (Lino) Saputo had beneficial ownership or the power to exercise control or direction, directly or indirectly, of 137,728,100 common shares of the Corporation, representing approximately 32.5% of the issued and outstanding common shares of the Corporation. Following completion of the Transaction, Emanuele (Lino) Saputo has beneficial ownership or the power to exercise control or direction, directly or indirectly, of 164,228,100 common shares of the Corporation, representing approximately 38.7% of the issued and outstanding common shares of the Corporation. 11446037 Canada Inc. acquired Purchased Shares at a price of C$29.12 per share. Mr. Emanuele (Lino) Saputo, Mrs. Mirella Saputo and the holding companies of other Saputo family members acquired Purchased Shares at a price of C$27.96 per share. 11446037 Canada Inc. and such holding companies and individuals (collectively, the "Family Purchasers") acquired Purchased Shares for investment purpose, and in accordance with applicable securities laws, and may increase or decrease their investment in the Corporation depending on market conditions and other relevant factors. The Family Purchasers acquired Purchased Shares in reliance on the "private agreement exemption" under section 4.2 of Regulation 62-104 respecting Take-Over Bids and Issuer Bids.

Following completion of the Transaction, CDPQ has beneficial ownership or the power to exercise control or direction, directly or indirectly over 19,152,378 common shares of the Corporation, representing approximately 4.51% of the issued and outstanding common shares of the Corporation. CDPQ acquired Purchased Shares at a price of C$27.96 per share.

Prior to the Transaction, Mr. Francesco Saputo had beneficial ownership or the power to exercise control or direction, directly or indirectly, over 42,500,000 common shares of the Corporation, representing approximately 10.0% of the issued and outstanding common shares of the Corporation. Following completion of the Transaction, Francesco Saputo has beneficial ownership or the power to exercise control or direction, directly or indirectly, over 2,500,000 common shares of the Corporation, representing approximately 0.6% of the issued and outstanding common shares of the Corporation, and has no intention of selling the remaining shares of the Corporation in the near future. Mr. Francesco Saputo is selling the Purchased Shares as part of general estate and succession planning.

This press release is being issued pursuant to Regulation 62-103 respecting The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires reports to be filed under the Corporation's profile on SEDAR+ (www.sedarplus.ca) containing additional information respecting the foregoing matters. A copy of such reports may be obtained by contacting the Secretary of Saputo Inc. at [phone].

Emanuele (Lino) Saputo and 11446037 Canada Inc. are located at 6869 Métropolitain Boulevard East, Suite 500, Montréal, Québec, H1P 1X8.

CDPQ is located at 1000 Pl. Jean-Paul-Riopelle, Montréal, Québec, H2Z 2B3.

Francesco Saputo and Placements Italcan Inc. are located at 215 les Érables, Laval, Québec, H7R 1A3.

SOURCE Jolina Capital Inc.