Empire Company Limited Announces Renewal of Normal Course Issuer Bid

STELLARTON, NS, June 22, 2026 /CNW/ - Empire Company Limited ("Empire" or the "Company") (TSX: EMP.A) today announced that it has renewed its Normal Course Issuer Bid ("NCIB"), by filing a notice of intention with the Toronto Stock Exchange ("TSX") to purchase for cancellation up to 10,750,000 Class A shares representing approximately 9.6% of the public float of 112,213,358 Class A shares as of June 18, 2026, subject to regulatory approval. As of June 18, 2026, there were 126,034,914 Class A shares issued and outstanding.

The purchases will be made through the facilities of the TSX and/or any alternative Canadian trading systems to the extent they are eligible. The price that Empire will pay for any shares will be the market price at the time of acquisition. The Company believes that repurchasing shares at the prevailing market prices from time to time is a worthwhile use of funds and in the best interests of Empire and its shareholders. Purchases under the renewed NCIB may commence on July 2, 2026, and shall terminate not later than July 1, 2027.

Based on the average daily trading volume ("ADTV") of 448,658 shares over the last six months, daily purchases will be limited to 112,164 Class A shares (25% of the ADTV of the Class A shares), other than block purchase exemptions.

Under the Company's current NCIB, that commenced on July 2, 2025 and expires on July 1, 2026, the Company received approval from the TSX to purchase up to 11,500,000 Class A shares representing approximately 9.6% of the public float of Class A shares outstanding as of June 17, 2025. As of June 18, 2026, the Company has purchased 7,991,336 shares through the facilities of the TSX, including under its automatic share purchase plan, at a weighted average price of $49.55 for a total consideration of approximately $396 million.

The Company has also renewed its automatic share purchase plan with its designated broker allowing the purchases of Class A shares for cancellation under its NCIB during trading black-out periods, subject to regulatory approval.

ABOUT EMPIRE

Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia.  Empire's key businesses are food retailing, through wholly-owned subsidiary Sobeys Inc., and related real estate. With approximately $32 billion in annual sales and $17 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 130,000 people.

Forward-looking Statements

This document contains forward-looking statements which are presented for the purpose of assisting the reader to contextualize the Company's financial position and understand management's expectations regarding the Company's strategic priorities, objectives and plans. These forward-looking statements include, but are not limited to, the Company's plans to purchase for cancellation Class A shares, which may be impacted by market and economic conditions, changes in laws and regulations, and the results of operations. By its nature, forward-looking information requires the Company to make assumptions and is subject to inherent risks, uncertainties and other factors which may cause actual results to differ materially from forward-looking statements made. For more information on risks, uncertainties and assumptions that may impact the Company's forward-looking statements, please refer to the Company's materials filed with the Canadian securities regulatory authorities, including the "Risk Management" section of the Fiscal 2026 annual MD&A.

Although the Company believes the predictions, forecasts, expectations or conclusions reflected in the forward-looking information are reasonable, it can provide no assurance that such matters will prove correct. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. The forward-looking information in this document reflects the Company's current expectations and is subject to change. The Company does not undertake to update any forward-looking statements that may be made by or on behalf of the Company other than as required by applicable securities laws.

SOURCE Empire Company Limited

For further information, please contact: Investor Contact: Katie Brine, Vice President, Investor Relations, Treasury & Pensions, Sobeys Inc., [email protected]