Mr. Nicholas Estrela reports

SAPUTO INC. ANNOUNCES AN INCREASE TO ITS NORMAL COURSE ISSUER BID

Saputo Inc. has received approval from the Toronto Stock Exchange to amend its current normal course issuer bid (NCIB) to increase the maximum number of common shares that may be repurchased for cancellation thereunder from 20,498,278 common shares to 24,260,007 common shares, representing 10 per cent of the 242,600,071 common shares that constituted the company's public float (the maximum amount allowable under the rules of the TSX) as at Nov. 7, 2025 (the reference date for the NCIB). No other terms of the NCIB have been amended.

Purchases under the NCIB began on Nov. 19, 2025, and will end no later than Nov.18, 2026. Other than to reflect the increase in the maximum number of common shares that may be repurchased under the NCIB, the automatic share repurchase plan (APP) established in connection with the NCIB remains unchanged.

During the period from Nov. 19, 2025, to Aug. 18, 2026, 19,997,690 common shares were repurchased at a weighted average purchase price of $41.41.

Saputo is increasing the number of common shares it can purchase under the NCIB as it believes that the purchase of its own shares may, under appropriate circumstances, be a responsible allocation of cash. Although Saputo presently intends to continue to purchase common shares under the NCIB, there can be no assurances that any such purchases will be completed.

About Saputo Inc.

Saputo, one of the top 10 dairy processors in the world, produces, markets and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended-shelf-life milk and cream products, cultured products, and dairy ingredients. Saputo is a leading cheese manufacturer and fluid milk and cream processor in Canada, and a leading dairy processor in Australia. In the United States, Saputo is a leading cheese producer and extended-shelf-life and cultured dairy products manufacturer. Prior to the contemplated sale, Saputo is the leading manufacturer of branded cheese and dairy spreads in the United Kingdom. In addition to its dairy portfolio, Saputo produces, markets and distributes a range of dairy alternative products. Saputo products are sold in several countries under market-leading brands, as well as private-label brands. Saputo is a publicly traded company and its shares are listed on the Toronto Stock Exchange under the symbol SAP.

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