Mr. Yanick Blanchard reports

COLABOR GROUP INC. FILES APPLICATION FOR CREDITOR PROTECTION UNDER THE CCAA

Colabor Group Inc. and certain of its subsidiaries, Transport Paul-Emile Dube Ltee., Le Groupe Resto-Achats Inc. and Norref Fisheries Quebec Inc., will apply to the Superior Court of Quebec (commercial division) for an initial order to seek protection from their creditors under the companies' Creditors Arrangement Act.

In its application for an initial order, the company seeks the approval of a formal sale and investment solicitation process to provide interested parties with the opportunity to submit proposals with a view to determine the best possible transaction for the company, its concerned subsidiaries and its stakeholders. The initial order application also seeks, among other things, a stay of proceedings against the company and its concerned subsidiaries, including a stay of creditor claims and exercise of certain contractual rights, and the authorization of an interim debtor-in-possession financing to be provided by Toronto-Dominion Bank, Bank of Montreal and Bank of Nova Scotia to finance the SISP in respect of the company and its concerned subsidiaries' businesses or assets and the company's operations during the restructuring process. Approval is also being sought for the appointment of Raymond Chabot Inc. as monitor to oversee the CCAA proceedings and report to the court. While under CCAA protection, management of the company will remain responsible for the day-to-day operations of the company under the oversight of the monitor.

This announcement follows the press release issued by the company on Dec. 15, 2025, announcing that the company had not met, and did not expect to meet, its obligation to provide, to the satisfaction of its lenders, by Dec. 15, 2025, non-binding letters of intent for the refinancing of its credit facilities and raising of at least $15-million in equity under the company's forbearance agreements with its senior lenders and Investissement Quebec.

Trading in the common shares of the company on the Toronto Stock Exchange has been halted as of today. The TSX has also put the company under delisting review under its expedited review process. It is anticipated that trading in the company's listed securities will continue to be halted until completion of the review undertaken by the TSX regarding the suitability of the company for listing on the TSX.

About Colabor Group Inc.

Colabor is a distributor and wholesaler of food and related products serving the hotel, restaurant and institutional markets in Quebec and in the Atlantic provinces, as well as in the retail market. Within its two operating activities, Colabor offers specialty food products such as meat, fish and seafood, as well as food and related products through its Broadline activities.

We seek Safe Harbor.