Rogers Sugar Inc. has completed the issuance of $57,500,000 aggregate principal amount of Ninth Series 5.50% Convertible Unsecured Subordinated Debentures due January 31, 2033, including full exercise of the over-allotment option. The debentures were priced at $1,000 per debenture with a 5.50% annual coupon, payable semi-annually starting July 31, 2026.

The debentures are unsecured, subordinated to all Senior Indebtedness, and non-redeemable before January 31, 2029, except in specified change-of-control circumstances. Thereafter, they are redeemable on stated terms, including a trading-price condition until January 31, 2031.

Holders may convert debentures into common shares at $7.91 per share (126.4223 shares per $1,000 principal), subject to adjustments. On redemption or maturity, the company may repay principal in cash or, subject to conditions, in common shares valued at 95% of a defined market price.

Net proceeds will reduce amounts outstanding under the credit facility of subsidiary Lantic Inc. and fund general corporate purposes.

The offering closed January 12, 2026 pursuant to a short form base shelf prospectus dated December 5, 2025 and prospectus supplement dated January 7, 2026. The underwriting syndicate was co-led by BMO Capital Markets and National Bank Capital Markets, and included TD Securities Inc., Scotia Capital Inc., CIBC World Markets Inc., Desjardins Securities Inc. and RBC Dominion Securities Inc.

The debentures trade on the Toronto Stock Exchange under symbol RSI.DB.H.

Davies Ward Phillips & Vineberg LLP advises Rogers Sugar Inc., and Stikeman Elliott LLP advises the underwriters.