Andrew Peller Limited Receives Final Order Approving Arrangement With Fairfax Financial Holdings Limited

GRIMSBY, Ontario, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Andrew Peller Limited ("Andrew Peller" or the "Company") (TSX: ADW.A / ADW.B) today announced the receipt of the final order of the Ontario Superior Court of Justice (Commercial List) (the "Final Order") with respect to the previously-announced plan of arrangement transaction (the "Arrangement") involving Fairfax Financial Holdings Limited ("Fairfax") and 18013632 Canada Inc. (the "Purchaser"), a newly formed and wholly-owned subsidiary of Fairfax. The Final Order was the final substantive court approval required prior to closing of the Arrangement, which is anticipated to occur on or about August 14, 2026. Completion of the Arrangement remains subject to customary closing conditions.

Pursuant to the Arrangement, among other things, the Purchaser will acquire all of the issued and outstanding Class A non-voting shares (the "Class A Shares") and Class B voting shares (the "Class B Shares") of the Company (other than those shares held by John Peller and certain affiliates), by way of a plan of arrangement under the provisions of the Canada Business Corporations Act, for cash consideration of $8.00 per Class A Share and $12.00 per Class B Share. The Arrangement was approved by Andrew Peller shareholders at the special meeting of shareholders held on August 11, 2026.

Further details regarding the Arrangement are set out in the management information circular of Andrew Peller dated July 10, 2026 (the "Circular"), the news release of Andrew Peller dated June 15, 2026 and the arrangement agreement dated June 14, 2026 among Andrew Peller, the Purchaser and Fairfax, each of which are available under Andrew Peller's SEDAR+ profile at www.sedarplus.ca.

About Andrew Peller

Andrew Peller Limited is one of Canada's leading producers and marketers of quality wines and craft beverage alcohol products. The Company's award-winning premium and ultra-premium Vintners' Quality Alliance brands include Peller Estates, Trius, Thirty Bench, Wayne Gretzky, Sandhill, Red Rooster, Black Hills Estate Winery, Tinhorn Creek Vineyards, Gray Monk Estate Winery, Raven Conspiracy, and Conviction. Complementing these premium brands are a number of popularly priced varietal offerings, wine-based liqueurs, craft ciders, and craft spirits. The Company owns and operates 101 well-positioned independent retail locations in Ontario under The Wine Shop, Wine Country Vintners, and Wine Country Merchants store names. The Company also operates Andrew Peller Import Agency and The Small Winemaker's Collection Inc., importers and marketing agents of premium wines from around the world. With a focus on serving the needs of all wine consumers, the Company produces and markets premium personal winemaking products through its wholly owned subsidiary, Global Vintners Inc., the recognized leader in personal winemaking products. More information about the Company can be found at ir.andrewpeller.com.

About Fairfax

Fairfax is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.

Cautionary Note – Forward Looking Statements

Certain statements contained in this news release contain "forward-looking information" within the meaning of applicable securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might", "have potential" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking information and statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to a variety of risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Forward-looking information and statements include, but are not limited to, information and statements regarding the Arrangement, the timing and ability of Andrew Peller to complete the Arrangement (if at all) and the timing and ability of Andrew Peller to satisfy the conditions precedent to completing the Arrangement (if at all) as set forth in the arrangement agreement.

Although Andrew Peller believes that the expectations reflected in such forward-looking information and statements are reasonable, such information and statements involve risks and uncertainties, and undue reliance should not be placed on such information and statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Andrew Peller, and its management and board of directors, as of the date hereof. Andrew Peller cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within its control, and there is no assurance that they will prove correct. Consequently, there can be no assurance that the actual results or developments anticipated by Andrew Peller will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, Andrew Peller, the current shareholders, or its future results and performance of Andrew Peller. For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made in this news release concerning the Arrangement, see the Circular available on SEDAR+ (www.sedarplus.ca) under Andrew Peller's issuer profile.

Readers, therefore, should not place undue reliance on any such forward-looking statements. There can be no assurance that the Arrangement will be completed or that it will be completed on the terms and conditions contemplated in this news release. The Arrangement could be modified or terminated in accordance with its terms. Further, the forward-looking information and statements in this news release are based on beliefs and opinions of Andrew Peller at the time the statements are made, and there should be no expectation that these forward-looking statements will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Andrew Peller disavows and disclaims any obligation to do so except as required by applicable law. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Andrew Peller.

Contact Information:

Investor Relations
Craig Armitage
ir.andrewpeller.com