AGT Announces Normal Course Issuer Bid

SYMBOL:  TSX: AGTF

REGINA, SK, June 3, 2026 /CNW/ - AGT Food and Ingredients Inc. ("AGT" or the "Company"), (TSX: AGTF) announced today acceptance by the Toronto Stock Exchange (the "TSX") of AGT's notice of intention to make a normal course issuer bid (the "NCIB"). Pursuant to the NCIB, AGT intends to purchase for cancellation up to 3,381,324 common shares in the capital of the Company (the "Common Shares"), representing approximately 5% of AGT's issued and outstanding Common Shares. As of May 31, 2026, AGT had 67,626,474 Common Shares issued and outstanding.

AGT believes that the market price of the Common Shares may, at certain times throughout the duration of the NCIB, be undervalued based on AGTs financial performance and prospects, and accordingly, the board of directors of the Company is of the opinion that the purchase of Common Shares is an appropriate use of funds in order to increase shareholder value.

Under the NCIB, AGT may purchase up to 19,998 of its Common Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 79,993 Common Shares on the TSX since it became listed on the TSX, other than block purchase exemptions. Purchases under the NCIB may commence on June 5, 2026 and continue until June 4, 2027 or such earlier date as AGT completes its purchases pursuant to the NCIB.

The NCIB will be conducted in accordance with TSX rules and policies through the facilities of the TSX or alternative trading systems in Canada, if eligible, and the price that AGT will pay for any Common Shares will be the market price prevailing at the time of purchase or such other price as may be permitted.

In connection with the NCIB, the Company also announces that it has entered into an issuer automatic purchase plan agreement (the "Plan") with an independent designated broker (the "Broker") responsible for making purchases of Common Shares pursuant to the Plan. Under the Plan, the Broker will have sole discretion to purchase Common Shares pursuant to the NCIB during trading black-out periods established under the Company's Insider Trading Policy, subject to the price limitations and other terms of the Plan and the rules of the TSX. The Company may instruct the Broker to make specific purchases and suspend or terminate the Plan, provided in each case that the Company certifies to the Broker that it is not in possession of any material undisclosed information and such request is otherwise in compliance with the terms of the Plan.

About Forward-Looking Information

This press release contains forward-looking statements within the meaning of applicable Canadian securities laws including, without limitation, statements related to the Company's intention to commence the NCIB and the timing and quantity of any purchases of Common Shares under the NCIB. In certain cases, forward-looking statements can be identified by the use of words such as "intends", "believes" or variations of such words and phrases, or statements that certain actions, events or results "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements and the timing thereof of AGT (including its operating subsidiaries) to be materially different from any future results, performance or achievements or the timing thereof expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the actual results of harvests, fluctuations in the price of lentils and other crops, failure of plant, equipment or processes to operate as anticipated, accidents or labour disputes, risks relating to international operations as well as the factors discussed under "Risk Factors" in AGT's Annual Information Form for the year ended December 31, 2025 dated March 16, 2026 filed on SEDAR+.

Although AGT has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Although AGT believes the assumptions inherent in forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as at the date of this press release. In addition to other assumptions identified in this press release, assumptions have been made regarding, among other things, the availability of cash for repurchases of outstanding Common Shares under the NCIB; the existence of alternative uses for the Company's cash resources which may be superior to effecting repurchases under the NCIB;  compliance by third parties with their contractual obligations; compliance with applicable laws and regulations pertaining to the NCIB; management's perceptions of historical trends, current conditions and expected future developments; and other considerations that are believed to be appropriate in the circumstances. AGT expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required in accordance with applicable securities laws.

About AGT

AGT is a globally diversified food company that produces high-quality, nutritious products for everyday consumption. Our products reach consumers in 127 countries and our global footprint consists of 39 state-of-the-art, highly efficient manufacturing facilities operations across 5 continents. These facilities are strategically located near critical freight and logistics infrastructure and in close proximity to key agricultural growing regions, which provides us with the ability to efficiently source, process, and produce healthy plant-based food products that are both tasty and affordable. Our integrated supply chain utilizes the latest manufacturing technologies, allowing us to produce a growing portfolio of packaged food brands in everyday categories including pasta, pulses, rice, and cereals. In addition, we are an integral partner to many global packaged food companies and international retailers through production, supply, and innovation partnership agreements to manufacture proprietary, value added products for their owned global and store brands.

To learn more, please visit: www.agtfoods.com.

SOURCE AGT Food and Ingredients Inc.

For investor inquiries, please contact: Matthew Schroeder, Managing Director, Accounting, [phone], [email protected]