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Maple Leaf Foods Hosts 2013 Investor Day

Highlights Final Phase of Strategic Projects to Deliver 2015 Margin
Targets

TSX: MFI
www.mapleleaffoods.com

TORONTO, June 20, 2013 /PRNewswire/ – Maple Leaf Foods (MFI: TSX) hosted its
2013 Investor Day today, updating attendees on initiatives underway to
continue to increase profitability and reach the Company’s 2015 EBITDA
margin target.

“Our trend line of EBITDA margin expansion shows that our strategies are
working,” said Michael H. McCain, President and CEO. “Driving this
improvement are a material cost reduction in primary processing, early
returns from our prepared meats strategy, and the increased
contribution from innovation and brand building. We are in the final
intense phase of increasing scale and productivity in our manufacturing
and distribution network, which along with other projects is expected
to substantially increase our profitability and global
competitiveness.”

Maple Leaf has increased Earnings before Tax and Depreciation (EBITDA)
by 144 percent since 2003 and EBITDA in its Protein operations by 50
percent since it launched its protein restructuring in 2007. The
Company is targeting to deliver an EBITDA margin of 11.7 percent in
2015 (restated due to changes in pension accounting) compared to 7.9
percent in 2012. The Company outlined the significant benefits, valued
at over $100 million in EBITDA, of productivity and other cost
reductions that it expects to generate as a result of its investments
in new facilities and manufacturing technologies.

Commissioning of major expansions at the Company’s prepared meats
facilities in Winnipeg, Saskatoon and Brampton is well underway,
utilizing advanced technologies that will significantly enhance output
and yields. Construction is on schedule to establish one of the most
advanced prepared meats manufacturing facility in North America, which
will commence production later this year in Hamilton, Ontario. A new
eastern Canada distribution centre will also open this month that will
consolidate operations from 19 Company owned and third party facilities
by the end of 2014. These and other projects included in the Company’s
value creation strategy, which was launched in 2010, represent a total
capital investment of over $780 million.

Management also updated investors on progress in restoring volumes and
growth in its prepared meats business after a challenging first
quarter, which was impacted by volatile commodity market conditions and
price increases to offset these higher costs. The Company has achieved
a significant strengthening in volumes and continues to expect
year-over year growth. Other presentations included updates on the
bakery business and insights into innovation and brand strategies that
build on the Company’s leading brands and market shares.

A webcast of the presentations will be available as of June 21, 2013 at http://investor.mapleleaf.ca/phoenix.zhtml?c=88490&p=irol-audioarchives. Investor Day presentations and the webcast will also be available on
the Company’s website in the Investor section under Investor Information/Presentations & Webcasts.

SOURCE Maple Leaf Foods Inc.

Maple Leaf Foods Investor Contact: Nick Boland VP, Investor Relations: 416-926-2005

Maple Leaf Foods Media Contact: Dave Bauer, Corporate Communications: 905-285-1510