Taiga Press Release Announcing Extension of Normal Course Issuer Bid

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

BURNABY, BC, Aug. 31, 2023 /CNW/ - Taiga Building Products Ltd. ("Taiga" or the "Company") (TSX: TBL) would like to clarify a typographical error made in the first and second paragraph of its press release dated August 29, 2023. The first paragraph stated that Taiga's new normal course issuer bid (the "2023 NCIB") will terminate on August 31, 2024 or earlier if Taiga has completed its purchases of the securities subject to the 2023 NCIB. The second paragraph stated that the common shares of the Company (the "Common Shares") acquired pursuant to the 2023 NCIB will be subject to a daily maximum of 4,247 Common Shares, being 25% of the average daily trading volume for the last six completed calendar months of 16,990 Common Shares, subject to the block purchase exemption.

The correct expiry date for the 2023 NCIB is August 30, 2024 and the correct amount for the daily maximum of Common Shares which may be acquired pursuant to the 2023 NCIB is 4,044 Common Shares, being 25% of the average daily trading volume for the last six completed calendar months of 16,178 Common Shares, subject still to the block purchase exemption.

Forward-Looking Information

This news release contains forward-looking information that is based on current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking information does not guarantee future performance and involves risks, uncertainties and assumptions which are difficult to predict and which may cause Taiga's actual results in future periods to differ materially from expected results. In particular, statements about the Company's plans, intentions or potential outcome regarding the 2023 NCIB constitute forward-looking information. Investors are cautioned that all forward-looking information involves risks and uncertainties including, without limitation, those risk factors listed from time to time in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking information, which are qualified in their entirety by this cautionary statement. Taiga does not undertake any obligation to release publicly any revisions to or updating any voluntary forward-looking information, except as required by applicable securities law.

SOURCE Taiga Building Products Ltd.

Mark Schneidereit-Hsu, CFO and VP, Finance & Administration, Tel: [phone], Email: [email protected]