Class B Holdings Limited Updates Reporting on Empire Shares Pursuant to National Instrument 62-103

STELLARTON, NS, July 11, 2025 /CNW/ – This press release is being disseminated as required by National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issuers (“NI 62-103”) in connection with the filing of an early warning report by Class B Holdings Limited (“CBHL”) as a result of its acquisition of Class B common shares of Empire Company Limited (“Class B Shares”) in a private transaction.

CBHL, beneficially owned by three branches of the Sobey family, confirmed today that it has acquired 90,000 Class B Shares at a price of $54.40 per share, being approximately 0.09% of the outstanding Class B Shares. The acquisition results in an aggregate increase of 2.03% of the outstanding Class B Shares since CBHL’s early warning report on December 28, 2017.  

Prior to the acquisition, CBHL beneficially held an aggregate of 92,833,092 Class B Shares representing 94.59% of the outstanding Class B Shares. Following acquisition, CBHL beneficially hold an aggregate of 92,923,092 Class B Shares representing 94.69% of the outstanding Class B Shares. CBHL, together with its shareholders and their affiliates, own or control 92,941,170 Class B Shares representing approximately 94.71% of the outstanding Class B common shares. 

CBHL, its shareholders and their affiliates have no intention to undertake any other transactions relating to his ownership of Empire. However, subject to regulatory limitations, they may acquire or continue to hold Empire shares in the normal course of their investment activities.

SOURCE Class B Holdings Limited