Mr. Dani Reiss reports

CANADA GOOSE ANNOUNCES AGREEMENT TO SELL BAFFIN TO ROYER

Canada Goose Holdings Inc. has entered into an agreement to sell Baffin Ltd., the Canadian performance footwear brand, to L.P. Royer Inc., a leading Canadian manufacturer of work and military footwear.

Canada Goose acquired Baffin in 2018 as its first step into the footwear category, gaining valuable expertise and infrastructure as the company began building its own footwear capabilities as part of its lifestyle product expansion strategy.

"This transaction is about focus. We've made meaningful progress evolving Canada Goose into a year-round lifestyle brand, and this gives us the opportunity to continue that momentum by simplifying our operating model, focusing resources on our highest-priority opportunities and drive long-term profitable growth," said Dani Reiss, chairman and chief executive officer, Canada Goose. "Paul Hubner has done a fantastic job building Baffin into the strong Canadian brand it is today. I'm grateful for everything he and the team have contributed over the years, and I'm excited to see Baffin continue to grow with Royer."

Founded in 1979, Baffin has built a compelling reputation for technical footwear designed to perform in some of the world's most demanding environments. The brand is known for innovation, durability and craftsmanship, with deep Canadian roots and a strong performance heritage.

Since launching its first footwear collection in 2021, Canada Goose has continued to invest in and expand the category, growing from extreme-weather boots into a broader assortment that includes lightweight hikers, everyday performance styles and sneakers. That evolution reflects Canada Goose's long-term commitment to footwear and its vision of building a broader lifestyle offering. The transaction allows for even greater focus and investment behind the Canada Goose brand across categories, seasons and markets.

"Baffin is a respected Canadian brand with a long history of technical performance, durability and product expertise," said Simon La Rochelle, president, Royer. "We have long admired Baffin's heritage and look forward to supporting its continued growth while preserving the qualities that have made it successful."

The transaction is expected to close in August, subject to customary closing conditions.

About Canada Goose Holdings Inc.

Canada Goose is dedicated to empowering discovery and pushing boundaries in design, functionality and style. Inspired by its Canadian heritage, the company crafts high performance outerwear, apparel, footwear, and accessories that elevate craftsmanship and embrace individuality. Rooted in resilience and driven by a pioneering spirit, the company emboldens explorers to thrive in all environments while preserving the planet they roam.

About Royer

Founded in 1934 and headquartered in Sherbrooke, Que., Royer is a Canadian manufacturer of technical footwear recognized for its performance, comfort and durability, serving workers across the most diverse industrial sectors -- mining, oil and gas, metallurgy, construction, and heavy industrial manufacturing.

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