Date Closed

September 18, 2012

Lead Office

Montréal

Value

129.30 Million CAD

On September 18, 2012, Saputo Inc. announced that it had completed the closing of its previously announced secondary offering pursuant to which its shareholder, Jolina Capital Inc., sold 3.1 million common shares of Saputo, held directly or indirectly, at an offering price of C$41.70 per share for gross proceeds of C$129.3 million. Saputo has not derived any proceeds from this offering.

The common shares of the Corporation were offered to the public by a syndicate of underwriters led jointly by National Bank Financial Inc. and BMO Capital Markets and including Scotia Capital Inc., Desjardins Securities Inc., RBC Capital Markets, CIBC World Markets Inc., Merrill Lynch Canada Inc. and TD Securities Inc.

Jolina now owns, directly and indirectly, 66,779,924 common shares of Saputo, representing approximately 33.9% of the outstanding common shares of the Corporation.

Saputo, headquartered in Montréal, Québec, is a dairy company.

McCarthy Tétrault LLP represented the syndicate of underwriters, with a team led by Patrick Boucher.