Mr. John Doolittle reports

TOROMONT ANNOUNCES UPDATE ON POWER SYSTEMS BUSINESS

Toromont Industries Ltd. has continued to evaluate the market dynamics for its engine enclosure business at AVL Manufacturing Inc. Demand and production capacity at AVL have been solidified for 2026 via current backlog and the ramp-up of the company's production in Charlotte, N.C.

Today, Toromont's power systems business has received confirmation of firm orders for approximately $1-billion, with delivery to occur substantially in 2027. The orders are expected to require incremental capacity beyond 2026 levels. To support this anticipated demand, the company is evaluating additional efficiencies at existing facilities and acquiring land for a new facility in the Hamilton, Ont., area.

About Toromont Industries Ltd.

Toromont operates through two business segments: the Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory -- spanning the Canadian provinces of Newfoundland and Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Quebec, Ontario, and Manitoba, in addition to most of the territory of Nunavut. The Equipment Group includes industry-leading rental operations, a material handling business and a power generation enclosure manufacturer. CIMCO is one of North America's leading suppliers of thermal management solutions that enable customers to reduce energy consumption and emissions, use natural refrigerants, and monitor and control their operating environments autonomously. Both segments offer comprehensive product support capabilities.

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