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Monday, December 19, 2016

Saputo announces senior management change

From Saputo press release - On December 16 Saputo Inc. (TSX: SAP) announced that the Company's Chief Financial Officer and Secretary Mr. Louis-Philippe Carrière has advised that he will retire effective August 1, 2017, after 30 years with the Company. At that date Mr. Maxime Therrien will be appointed Chief Financial Officer and Secretary.

Mr. Therrien is currently the Company’s Executive Vice President – Finance and Administration. He has been with the Company since 1996, and has held several senior management positions in finance and administration, both at the divisional and at the corporate level. In his new role, Mr. Therrien will report to Mr. Lino A. Saputo, Jr., the Company's Chief Executive Officer and Vice Chairman of the Board.

In the upcoming year, Mr. Carrière will ensure a transition to Mr. Therrien. Starting August 1, 2017, Mr. Carrière will act as a senior advisor to the Company. The Board of Directors of the Company will propose Mr. Carrière as a new nominee for election to the Board at the next meeting of shareholders to be held on August 1, 2017.

Editor's note: Above release modified slightly for clarity.  Saputo owns and operates a powdered milk plant in Glenwood.

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