Blues vs. Non-Blues 5-Year Enrollment Trends Analyzed by Mark Farrah Associates
CANONSBURG, Pa.--(BUSINESS WIRE)--Health insurance companies provided fully insured coverage for approximately 186.5 million people in 2024, an increase of over 12.3 million from 2020. Blue Cross Blue Shield (BCBS) association members, parent organizations, and their subsidiaries insured about 37.5% of the total health insurance market. In the latest Healthcare Business Strategy report, Mark Farrah Associates (MFA), www.markfarrah.com, examined health insurance enrollment changes in key segments for Blue Cross Blue Shield (BCBS) and Non-BCBS companies between 2020 and 2024.
Some highlights include:
Individual enrollment for BCBS companies increased 36.6% over the last 5 years, and non-BCBS companies reported a 106.1% increase during the same period.
Fully insured Group enrollment, which includes the Federal Employees Health Benefits Program (FEHBP), continued to experience decreases throughout the 5-year timeframe for both Blues and non-Blues plans.
During the 5-year period, Medicare Advantage (MA) enrollment experienced a 32.8% increase for BCBS plans, and non-BCBS MA enrollment saw a 32.3% increase.
Total 4Q24 Medicaid enrollment for BCBS plans was over 15.2 million and nearly 62.5 million for non-BCBS companies.
To read the FREE full text of " Five Year Health Enrollment Trends Comparing Blues & Non-Blues Plans", visit the MFA Briefs library on Mark Farrah Associates' website.
Healthcare Business Strategy is a FREE brief that presents analysis of important issues and developments affecting healthcare business today. If you would like to be added to our email distribution list, please submit your email to the " Subscribe to MFA Briefs" on our website.
Mark Farrah Associates (MFA) is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Our product portfolio includes Health Coverage Portal™, County Health Coverage™, Medicare Business Online™, Medicare Benefits Analyzer™, 5500 Employer Health PLUS, and Health Plans USA™. For more information about these products, refer to the brochures available under the Our Products section of the website (www.markfarrah.com) or call 724-338-4100. Follow us on LinkedIn!
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Hamilton Spectator
24 minutes ago
- Hamilton Spectator
Major Drilling Announces Fourth Quarter and Fiscal Year 2025 Results as Activity Ramps Up
MONCTON, New Brunswick, June 11, 2025 (GLOBE NEWSWIRE) — Major Drilling Group International Inc. ('Major Drilling' or the 'Company') (TSX: MDI), a leading provider of specialized drilling services to the mining sector, today reported results for the fourth quarter and fiscal year 2025, ended April 30, 2025. Fiscal 2025 Highlights Q4 2025 Summary 'Fiscal 2025 marked a pivotal year for the Company, with the successful acquisition of Explomin Perforaciones ('Explomin') in November 2024, bolstering the foundation for a strong path toward further growth heading into fiscal 2026. As we move into the new year, there have been several positive indications with respect to exploration spending, most notably from the larger exploration budgets outlined by several of our senior customers in conjunction with their year-end results,' said Denis Larocque, President and CEO of Major Drilling. 'Market hesitation due to tariff-related economic uncertainty impacted performance during the quarter as several project startups were delayed. These programs ramped up through March and accelerated into April, resulting in some training, mobilization, and startup costs impacting our margins in fiscal Q4,' Mr. Larocque continued. 'While we prepare for a busier fiscal year, we remain proud of our top-tier safety record, as we achieved a TRIFR of 0.74 in fiscal 2025, the lowest in Company history. Our strong safety culture, along with our well-maintained fleet of rigs, strong levels of inventory, and experienced crews, all combine to solidify our position as an industry leader,' concluded Mr. Larocque. 'With a sharp increase in activity expected over the coming months, we spent $18.6 million on capex during the quarter. This included the addition of 7 new drill rigs, while we disposed of 4 older, less efficient rigs, bringing the total rig count to 708 at fiscal year-end. 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Adjusted gross profit/margin - excludes depreciation expense: EBITDA - earnings before interest, taxes, depreciation, and amortization: Net cash (debt) – cash net of debt, excluding lease liabilities reported under IFRS 16 Leases: Forward-Looking Statements This news release includes certain information that may constitute 'forward-looking information' under applicable Canadian securities legislation. All statements, other than statements of historical facts, included in this news release that address future events, developments, or performance that the Company expects to occur (including management's expectations regarding the Company's objectives, strategies, financial condition, results of operations, cash flows and businesses) are forward-looking statements. Forward-looking statements are typically identified by future or conditional verbs such as 'outlook', 'believe', 'anticipate', 'estimate', 'project', 'expect', 'intend', 'plan', and terms and expressions of similar import. All forward-looking information in this news release is qualified by this cautionary note. Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management related to the factors set forth below. While these factors and assumptions are considered reasonable by the Company as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such forward-looking statements are subject to a number of risks and uncertainties that include, but are not limited to: the level of activity in the mining industry and the demand for the Company's services; competitive pressures; global and local political and economic environments and conditions; measures affecting trade relations between countries, including the imposition of tariffs and countermeasures, as well as the possible impacts on the Company's clients, operations and, more generally, the economy; the integration of business acquisitions and the realization of the intended benefits of such acquisitions; the level of funding for the Company's clients (particularly for junior mining companies); exposure to currency movements (which can affect the Company's revenue in Canadian dollars); changes in jurisdictions in which the Company operates (including changes in regulation); currency restrictions; the Company's dependence on key customers; efficient management of the Company's growth; the impact of operational changes; safety of the Company's workforce; risks and uncertainties relating to climate change and natural disasters; the geographic distribution of the Company's operations; failure by counterparties to fulfill contractual obligations; disease outbreak; as well as other risk factors described under 'General Risks and Uncertainties' in the Company's MD&A for the year ended April 30, 2025, available on the SEDAR+ website at . Should one or more risk, uncertainty, contingency, or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Forward-looking statements made in this document are made as of the date of this document and the Company disclaims any intention and assumes no obligation to update any forward-looking statement, even if new information becomes available, as a result of future events, or for any other reasons, except as required by applicable securities laws. About Major Drilling Major Drilling Group International Inc. is the world's leading provider of specialized drilling services in the metals and mining industry. The diverse needs of the Company's global clientele are met through field operations and registered offices that span across North America, South America, Australia, Asia, Africa, and Europe. Established in 1980, the Company has grown to become a global brand in the mining space, known for tackling many of the world's most challenging drilling projects. Supported by a highly skilled workforce, Major Drilling is led by an experienced senior management team who have steered the Company through various economic and mining cycles, supported by regional managers known for delivering decades of superior project management. Major Drilling is regarded as an industry expert at delivering a wide range of drilling services, including reverse circulation, surface and underground coring, directional, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive/longhole, and surface drill and blast, along with the ongoing development and evolution of its suite of data and technology-driven innovation services. Webcast/Conference Call Information Major Drilling Group International Inc. will provide a simultaneous webcast and conference call to discuss its quarterly results on Thursday, June 12, 2025 at 8:00 am (EDT). To access the webcast, which includes a slide presentation, please go to the investors/webcasts section of Major Drilling's website at and click on the link. Please note that this is listen-only mode. To participate in the conference call, please dial 416-340-2217, participant passcode 5509648# and ask for Major Drilling's Fourth Quarter Results Conference Call. To ensure your participation, please call in approximately five minutes prior to the scheduled start of the call. For those unable to participate, a taped rebroadcast will be available approximately one hour after the completion of the call until Sunday, July 6, 2025. To access the rebroadcast, dial 905-694-9451 and enter the passcode 3742746#. The webcast will also be archived for one year and can be accessed on the Major Drilling website at . For further information: Ryan Hanley Director, Corporate Development & Investor Relations Tel: (506) 857-8636 Fax: (506) 857-9211 ir@ MAJOR DRILLING GROUP INTERNATIONAL INC. SELECTED FINANCIAL INFORMATION FOR THE THREE AND TWELVE MONTHS ENDED APRIL 30, 2025 AND 2024 (in thousands of Canadian dollars) SEGMENTED INFORMATION The Company's operations are divided into three geographic segments corresponding to its management structure: Canada - U.S.; South and Central America; and Australasia and Africa. The services provided in each of the reportable segments are essentially the same. The accounting policies of the segments are the same as those described in note 4 presented in the Notes to Consolidated Financial Statements for the year ended April 30, 2025. 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Hamilton Spectator
25 minutes ago
- Hamilton Spectator
Andrew Peller Limited Reports Financial Results for Fourth Quarter and Fiscal Year 2025
GRIMSBY, Ontario, June 11, 2025 (GLOBE NEWSWIRE) — Andrew Peller Limited (TSX: ADW.A / ADW.B) ('APL' or the 'Company') announced today results for the three and 12 months ended March 31, 2025. All amounts are expressed in Canadian dollars unless otherwise stated. FISCAL 2025 HIGHLIGHTS FOURTH QUARTER 2025 HIGHLIGHTS 'It was a strong overall fiscal 2025 as we continued to outperform the category, expand and win in important new channels and growth categories, while meaningfully strengthening gross margins, operating margins and free cash flow,' said Paul Dubkowski, Chief Executive Officer. 'Building on this work, we are positioning the company for long-term success and increased market share as we adapt to Ontario's evolving distribution landscape and shifting trade dynamics, and we believe this represents a meaningful opportunity as we move forward.' Mr. Dubkowski added: 'We applaud the Ontario Government's recent policy announcements and its continued support of the province's grape and wine industry. By promoting strong, competitive policies that are aligned with global best practices, and by focusing on local grape growers and wine producers, the Government is reinforcing the vital role our sector plays as a key driver of economic growth in the province. As a market leader, we remain deeply committed to investing in the long-term health and growth of the sector and the regions in which we operate.' Financial Highlights (Financial Statements and the Company's Management Discussion and Analysis for the period can be obtained on the Company's web site at ) (1) Please refer to the Company's MD&A concerning 'Non-IFRS Measures' (2) Selling and administrative expenses in fiscal 2024 include $9.5 million relating to the former CEO retirement and transition costs. These amounts are added back to calculate the Company's EBITA. Financial Review Revenue for the three months ended March 31, 2025 decreased 11.2% compared to the prior year's fourth quarter primarily due to the $5.8 million recognized as revenue at the end of fiscal 2024 which represents the full year's benefit of the revised Ontario VQA Support Program. The revenue from the VQA support program for fiscal 2025 was recognized throughout the fiscal year as eligible sales were made. The remaining decrease can be attributed to the timing of the Easter holiday season when compared to fiscal 2024 and continual adjustment of channel and shipment timing in the evolving Ontario retail market. Revenue for the year ended March 31, 2025 increased 1.0% over the prior year. The increase was attributable to sales to big box stores, partially offset by a decrease in the Company's retail stores in the second half of the fiscal year as Ontario's new beverage alcohol retail distribution guidelines took effect. The Company's retail store sales also benefited from the July strike at the LCBO. Several of the Company's other well-established trade channels performed well during the year, particularly sales to third party restaurants and hospitality locations. This strong performance is offset by softness in sales from the estate wineries and wine clubs due to lower guest traffic and reduced consumer discretionary spending due to tightening economic conditions. Gross margin as a percentage of revenue for the three months ended March 31, 2025 increased to 52.6% from 41.8% mainly due to the inclusion of $9.8 million from the Ontario Grape Support Program (OGSP). As the OGSP program is intended to increase the content of domestic grapes in blended wines, the support is recognized as a reduction to cost of goods sold when eligible wine is sold. For the year ended March 31, 2025, gross margin as a percentage of revenue increased to 42.8% from 39.0%. 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Selling and administrative expenses in the fourth quarter of fiscal 2024 included $6.5 million relating to the retirement allowance and consulting agreements entered into as part of John Peller's retirement and transition and $3.0 million in legal and advisory fees incurred by certain shareholders in connection with these agreements. Offsetting the non-recurring expenses from 2024, was higher compensation and higher selling costs as a result of the strong performance in fiscal 2025. Earnings before interest, amortization, loss on debt extinguishment and financing fees, CEO retirement and transition costs, net unrealized gains and losses on derivative financial instruments, other (income) expenses, and income taxes ('EBITA') (see 'Non-IFRS Measures' section of this MD&A) was $13.5 million in the fourth quarter of fiscal 2025, compared to $9.3 million in the fourth quarter of prior year. EBITA increased to $62.9 million for the year ended March 31, 2025 compared to $50.3 million in prior year period. Interest expense for the three months and year ended March 31, 2025 has decreased by 22.4% and 4.4% respectively compared to the prior year due to lower average debt levels and lower interest rates in fiscal 2025 compared to prior year. The Company recorded a net unrealized non-cash loss in fiscal 2025 of $1.8 million related to mark-to-market adjustments on interest rate swaps and foreign exchange contracts compared to a loss of $0.6 million in the prior year. The Company recorded a loss of $0.7 million in the fourth quarter of fiscal 2025 compared to a gain of $1.0 million in the same quarter in the prior year. The Company has elected not to apply hedge accounting and accordingly the change in fair value of these financial instruments is reflected in the Company's consolidated statement of earnings (loss) each reporting period. These instruments are considered to be effective economic hedges and are expected to mitigate the short-term volatility of changing foreign exchange and interest rates. Other expenses (income), net were $0.6 million and $3.5 million for the three months and year ended March 31, 2025. The expense in fiscal 2025 related primarily to a restructuring initiative completed in fiscal year to align the Company's business structure with the changing retail landscape in Ontario. During the year ended March 31, 2025, the Company undertook certain tax planning initiatives as it relates to capital gains with respect to the Port Moody lands. This included transferring the beneficial interest in the land to a newly registered partnership. All parties associated with the limited partner are within the consolidated APL group and there has been no legal ownership change. In March 2025, the Government of Canada announced the cancellation of the previously proposed legislation changes to the capital gains inclusion rate. Consequently, the beneficial interest in the Port Moody lands was transferred at cost rather than at fair value as originally contemplated. The transaction had no impact on the Company's operating results or cash flows. The Company incurred a net loss of $0.7 million (loss of $0.02 per Class A share) for the fourth quarter of fiscal 2025 compared to a net loss of $6.9 million (loss of $0.17 per Class A share) in the fourth quarter of the prior year. For the year ended March 31, 2025, the Company generated net earnings of $11.1 million ($0.26 per Class A share) compared to a net loss of $2.9 million (loss of $0.07 per Class A Share) in the prior year. Investor Conference Call The Company will hold a conference call to discuss the results on Thursday, June 12, 2025 at 10:00 a.m. ET. Paul Dubkowski, CEO, Renee Cauchi, CFO and Patrick O'Brien, President and CCO, will host the call, with a question and answer period following management's presentation. Conference Call Dial In Details: Date: Thursday, June 12, 2025 Time: 10:00 a.m. (ET) Dial-in numbers: Local Toronto / International: (437) 900-0527 North American Toll Free: (888) 510-2154 RapidConnect: Webcast: A live webcast will be available at Replay: Following the live call, a recording will be available on the Company's investor relations website at About Andrew Peller Limited Andrew Peller Limited is one of Canada's leading producers and marketers of quality wines and craft beverage alcohol products. The Company's award-winning premium and ultra-premium Vintners' Quality Alliance brands include Peller Estates, Trius, Thirty Bench , Wayne Gretzky, Sandhill, Red Rooster, Black Hills Estate Winery, Tinhorn Creek Vineyards, Gray Monk Estate Winery, Raven Conspiracy, and Conviction . Complementing these premium brands are a number of popularly priced varietal offerings, wine-based liqueurs, craft ciders, and craft spirits. The Company owns and operates 101 well-positioned independent retail locations in Ontario under The Wine Shop, Wine Country Vintners, and Wine Country Merchants store names. The Company also operates Andrew Peller Import Agency and The Small Winemaker's Collection Inc., importers and marketing agents of premium wines from around the world. With a focus on serving the needs of all wine consumers, the Company produces and markets premium personal winemaking products through its wholly owned subsidiary, Global Vintners Inc., the recognized leader in personal winemaking products. More information about the Company can be found at . The Company utilizes EBITA (defined as earnings before interest, amortization, loss on debt extinguishment and financing fees, CEO retirement and transition costs, net unrealized gains and losses on derivative financial instruments, other (income) expenses, and income taxes) to measure its financial performance. EBITA is not a recognized measure under IFRS. Management believes that EBITA is a useful supplemental measure to net earnings, as it provides readers with an indication of earnings available for investment prior to debt service, capital expenditures, and income taxes, as well as provides an indication of recurring earnings compared to prior periods. Readers are cautioned that EBITA should not be construed as an alternative to net earnings determined in accordance with IFRS as indicators of the Company's performance or to cash flows from operating, investing, and financing activities as a measure of liquidity and cash flows. The Company also utilizes gross margin (defined as revenue less cost of goods sold, excluding amortization). The Company's method of calculating EBITA and gross margin may differ from the methods used by other companies and, accordingly, may not be comparable to measures used by other companies. Andrew Peller Limited common shares trade on the Toronto Stock Exchange (symbols ADW.A and ADW.B). FORWARD-LOOKING INFORMATION Certain statements in this news release may contain 'forward-looking statements' within the meaning of applicable securities laws including the 'safe harbour provisions' of the Securities Act (Ontario) with respect to APL and its subsidiaries. Such statements include, but are not limited to, statements about the growth of the business; its launch of new premium wines and craft beverage alcohol products; sales trends in foreign markets; its supply of domestically grown grapes; and current economic conditions. These statements are subject to certain risks, assumptions, and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. The words 'believe', 'plan', 'intend', 'estimate', 'expect', or 'anticipate', and similar expressions, as well as future or conditional verbs such as 'will', 'should', 'would', 'could', and similar verbs often identify forward-looking statements. We have based these forward-looking statements on our current views with respect to future events and financial performance. With respect to forward-looking statements contained in this news release, the Company has made assumptions and applied certain factors regarding, among other things: future grape, glass bottle, and wine and spirit prices; its ability to obtain grapes, imported wine, glass, and other raw materials; fluctuations in foreign currency exchange rates; its ability to market products successfully to its anticipated customers; the trade balance within the domestic Canadian and international wine markets; market trends; reliance on key personnel; protection of its intellectual property rights; the economic environment; the regulatory requirements regarding producing, marketing, advertising, and labelling of its products; the regulation of liquor distribution and retailing in Ontario; the application of federal and provincial environmental laws; and the impact of increasing competition. These forward-looking statements are also subject to the risks and uncertainties discussed in this news release, in the 'Risks and Uncertainties' section and elsewhere in the Company's MD&A and other risks detailed from time to time in the publicly filed disclosure documents of Andrew Peller Limited which are available at . Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which could cause actual results to differ materially from those conclusions, forecasts, or projections anticipated in these forward-looking statements. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The Company's forward-looking statements are made only as of the date of this news release, and except as required by applicable law, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new information, future events or circumstances or otherwise. For more information, please contact: Craig Armitage and Jennifer Smith ir@ Source: Andrew Peller Limited
Yahoo
43 minutes ago
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Maple Leaf Foods Inc. shareholders approve spin-off of Canada Packers and elect Board of Directors at the 2025 Annual and Special Meeting
TSX: MISSISSAUGA, ON, June 11, 2025 /CNW/ - Maple Leaf Foods Inc. ("Maple Leaf Foods" or the "Company") (TSX: MFI) announced today that its shareholders voted resoundingly to approve the proposed spin-off of the Company's pork operations to form Canada Packers Inc. ("Canada Packers"), and also re-elected all of the directors to the Maple Leaf Foods Board of Directors at its 2025 annual and special meeting of shareholders. "The overwhelming endorsement of our shareholders for the spin-off of our pork operations marks an important milestone in one of the most transformational transactions in the Company's history," stated Curtis Frank, President and Chief Executive Officer of Maple Leaf Foods. "By creating two companies, each with its own robust business model, focused strategy, distinct investment profile, and compelling growth potential, Maple Leaf Foods is ready to unlock its potential as a purpose-driven, protein-focused, branded consumer packaged goods company. I thank our shareholders for supporting our bold vision for the future." "This is a historic day in Canada Packers' progress toward becoming an independent, public company," said Dennis Organ, incoming President and Chief Executive Officer of Canada Packers. "With the confidence of the shareholders, we are excited to take our next steps as a global leader in sustainably produced, premium quality, value-added pork with diversified sales mix and global reach." "I believe passionately in the powerful potential of this transaction to create value for all our stakeholders," said Michael McCain, Executive Chair of Maple Leaf Foods. "Shareholders will be able to participate in not one, but two strong, independent, sustainable and purpose-driven businesses, each with a clear mandate and investment profile. The McCain family and McCain Capital Inc. are deeply committed to the future of both companies, and we extend our congratulations to the Maple Leaf Foods management team for advancing to this critical next step in our purposeful journey. The vote on the transaction, which required a 66 2/3% approval of votes cast by all the shareholders as well as a simple majority of votes cast by the public shareholders, was approved with 99.94% of votes cast by all shareholders and 99.88% of votes cast by the public (non-McCain) shareholders. The transaction is expected to be completed in the second half of 2025 pending receipt of an advance tax ruling and satisfaction of other customary closing conditions. In addition to approving the spin-off transaction, shareholders voted to re-elect all of the incumbent directors to serve on Maple Leaf Foods' Board of Directors for the coming year. The results of the vote for the election of directors were as follows: Name of Directors # Voted For % Voted For # Voted Against % Voted Against W.E. Aziz 104,805,094 98.16 % 1,967,263 1.84 % R.G. Close 102,598,175 96.09 % 4,174,181 3.91 % C.E. Frank 105,684,670 98.98 % 1,087,687 1.02 % T.P. Hayes 100,278,412 93.92 % 6,493,944 6.08 % F. Khan 105,317,051 98.64 % 1,455,306 1.36 % K.N. Lemon 105,307,726 98.63 % 1,464,631 1.37 % A.G. Macdonald 105,957,286 99.24 % 815,071 0.76 % L. Mantia 104,682,546 98.04 % 2,089,810 1.96 % J.W.F. McCain 105,000,245 98.34 % 1,772,112 1.66 % M.H. McCain 104,502,294 97.87 % 2,270,062 2.13 % B. Newlands Campbell 104,693,216 98.05 % 2,079,140 1.95 % All other resolutions at the meeting were also successfully approved by shareholders, including: the reappointment of KPMG LLP as the auditors of the Corporation (96.42% of votes cast in favour); the Canada Packers Option Plan (98.47% of votes cast in favour); and the advisory resolution on Maple Leaf Foods' approach to executive compensation (98.15% of votes cast in favour). A full report on voting results is available under Maple Leaf Foods' profile on SEDAR+ at About Maple Leaf FoodsMaple Leaf Foods is a leading protein company responsibly producing food products under leading brands including Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, Mina®, Greenfield Natural Meat Co.®, LightLife® and Field Roast™. The Company employs approximately 13,500 people and does business primarily in Canada, the U.S. and Asia. The Company is headquartered in Mississauga, Ontario and its shares trade on the Toronto Stock Exchange (MFI). Forward-Looking StatementsThis document contains, and the Company's oral and written public communications often contain, "forward-looking information" within the meaning of applicable securities law. These statements are based on current expectations, estimates, projections, beliefs, judgements and assumptions based on information available at the time the applicable forward-looking statement was made and in light of the Company's experience combined with its perception of historical trends. Such statements include, but are not limited to, statements with respect to objectives and goals, in addition to statements with respect to timing, execution, implications, benefits, risks, returns, opportunities, structure, approvals, value proposition and business model associated with the proposed separation of the Company into two independent public companies, as well as the Company's overall plans, actions and strategies. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "could", "would", "believe", "plan", "intend", "design", "target", "undertake", "view", "indicate", "maintain", "explore", "entail", "schedule", "objective", "strategy", "likely", "potential", "outlook", "aim", "propose", "goal", and similar expressions suggesting future events or future performance. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Specific forward-looking information in this document may includes, but is not limited to, statements with respect to the spin-off of the Company's pork operations; the benefits of the spin-off; timing for completion of the spin-off and satisfaction of the other closing conditions. These statements are based on and were developed using a number of assumptions including, but not limited to expectations and assumptions concerning the completion and expected benefits of the spin-off. Readers are cautioned that these assumptions may prove to be incorrect in whole or in part and actual results may differ materially from those anticipated in any forward-looking statements. Factors that could cause actual results or outcomes to differ materially from the results expressed, implied, or projected in the forward-looking statements contained in this document include, among other things, risks associated with the following: the spin-off not proceeding as expected, including as a result of regulatory, market or other factors; the conditions of the spin-off not being satisfied, approvals or rulings not being secured on acceptable terms or at all; the possibility that the spin-off will not be completed within the anticipated time period or at all; and other factors as set out under the heading "Risk Factors" in the Company's Management Discussion and Analysis for the year ended December 31, 2024, which is available on SEDAR+ at The Company cautions readers that the foregoing list of factors is not exhaustive. All forward-looking statements included herein speak only as of the date hereof. Unless required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements contained herein are expressly qualified by this cautionary statement. View original content to download multimedia: SOURCE Maple Leaf Foods Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
