EARLY WARNING NEWS RELEASE FOR MICHAEL HARRISON MCCAIN

EARLY WARNING NEWS RELEASE PURSUANT TO NATIONAL INSTRUMENTS 62-103

TORONTO, Oct. 1, 2025 /CNW/ - Michael Harrison McCain ("MHM") has today filed an early warning report (the "Early Warning Report") advising of his holdings in common shares ("Common Shares") of Canada Packers Inc. ("Canada Packers").

Today Maple Leaf Foods Inc. ("MLF") announced the closing of its previously announced spinoff of its pork operations as Canada Packers by way of plan of arrangement (the "Transaction") pursuant to which MLF shareholders received 0.2 of a common share of Canada Packers (a "Common Share") for each common share of MLF held on the record date for the Transaction.

Accordingly, in connection with the Transaction, MHM acquired 9,789,758 Common Shares, which based on information available to MHM is expected to represent 32.92% of the issued and outstanding Common Shares (on a non-diluted basis). In addition, Jonathan W.F. McCain ("JWFM"), a joint actor of MHM, acquired 28,000 Common Shares (together with the Common Shares of Canada Packers acquired by MHM, the "Spin-Off Shares"), which is expected to represent 0.09% of the issued and outstanding Common Shares (on a non-diluted basis). The Spin-Off Shares acquired by MHM were acquired directly by McCain Capital Inc. ("MCI"), of which MHM is the controlling shareholder, and the Spin-Off Shares acquired by JWFM were acquired directly by Andover Capital Corporation ("Andover"), a corporation owned and controlled by JWFM.

Additionally, in connection with the Transaction, MLF retained a 16% ownership interest in Canada Packers. For clarity, all references to the beneficial ownership of Common Shares by MHM and his Joint Actors (as defined below) exclude the Common Shares held by MLF.

The following persons are acting jointly or in concert with MHM in connection with the matters set out in this news release: (a) MCI, of which MHM is the controlling shareholder; (b) JWFM; and (c) Andover, a corporation owned and controlled by JWFM (collectively, the "Joint Actors").

Prior to the Transaction, neither MHM nor his Joint Actors owned any securities of Canada Packers. In connection with the Transaction, MHM, together with his Joint Actors, acquired 9,817,758 Common Shares, which is expected to represent 33.01% of the issued and outstanding Common Shares (on a non-diluted basis).

The Common Shares were acquired in connection with the consummation of the Transaction. MHM and JWFM may, from time to time, acquire securities of Canada Packers in connection with Canada Packers' equity incentive compensation plans in their capacity as Executive Chair and a director of Canada Packers, respectively.

None of MHM, MCI, JWFM or Andover has any current intention to acquire or dispose of securities of Canada Packers.

Share numbers and percentages referenced in this news release may be adjusted by immaterial amounts following the date hereof based on rounding procedures used in connection with the Transaction.

This news release is being issued as required by National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and relates to: (a) MHM, at 95 St. Clair Avenue West, Suite 200, Toronto, Ontario, M4V 1N6; and (b) Canada Packers, whose head office is located at 6985 Financial Drive, Suite 201, Mississauga, Ontario, L5N 0A1. A copy of the Early Warning Report can be obtained at www.sedarplus.ca under Canada Packers' company profile or by contacting Shane A. Priemer, Vice President and Chief Legal Officer, McCain Financial Advisory Services Inc., at 416-479-9288.

SOURCE Michael Harrison McCain