Mr. Jean-Sebastien Couillard reports

ROGERS SUGAR CLOSES $57.5 MILLION CONVERTIBLE DEBENTURE OFFERING, INCLUDING THE FULL EXERCISE OF THE OVER-ALLOTMENT OPTION GRANTED TO THE UNDERWRITERS

Rogers Sugar Inc. has completed today its previously announced bought deal public offering of $57.5-million aggregate principal amount of ninth series convertible unsecured subordinated debentures, including the exercise in full of the overallotment option granted to the underwriters (as defined below), at a price of $1,000 per debenture, pursuant to an underwriting agreement dated Jan. 7, 2026, among the company, Lantic Inc., and a syndicate of underwriters co-led by BMO Capital Markets and National Bank Capital Markets, and including TD Securities Inc., Scotia Capital Inc., CIBC World Markets Inc., Desjardins Securities Inc. and RBC Dominion Securities Inc.

The debentures were offered in each of the provinces of Canada pursuant to a prospectus supplement dated Jan. 7, 2026, to the company's final short form base shelf prospectus dated Dec. 5, 2025.

Rogers Sugar intends to use the net proceeds of the offering to reduce amounts outstanding under the credit facility of Lantic, a subsidiary of the company, and for general corporate purposes.

The debentures will bear an interest rate of 5.50 per cent per annum, payable semi-annually on the last day of January and July, commencing on July 31, 2026. The debentures will be convertible at the option of the holder into common shares of the company at a conversion rate of 126.4223 debenture share per $1,000 principal amount of debentures, which is equal to a conversion price of $7.91 per debenture share. The maturity date of the debentures is Jan. 31, 2033.

The debentures will commence trading today on the Toronto Stock Exchange under the symbol RSI.DB.H.

Copies of the documents relating to the offering, such as the shelf prospectus, the prospectus supplement and underwriting agreement, are available under the company's profile on SEDAR+. Copies of the prospectus supplement are available on the company's website.

About Rogers Sugar Inc.

Rogers Sugar is a corporation established under the laws of Canada. The company holds all of the common shares of Lantic and its administrative office is in Montreal, Que. Lantic operates cane sugar refineries in Montreal, Que., and Vancouver, B.C., as well as the only Canadian sugar beet processing facility in Taber, Alta. Lantic also operates a distribution centre in Toronto, Ont. Lantic's sugar products are mainly marketed under the Lantic trademark in Eastern Canada and the Rogers trademark in Western Canada, and include granulated, icing, cube, yellow and brown sugars, liquid sugars, and specialty syrups. Lantic owns all of the common shares of Lantic Maple Inc. (formerly known as The Maple Treat Corp.) and its head office is in Montreal, Que. Lantic Maple operates bottling plants in Granby, Degelis and St-Honore-de-Shenley, Que., and in Websterville, Vt. Lantic Maple products include maple syrup and derived maple syrup products supplied under retail private-label brands in approximately 50 countries and sold under various brand names.

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