Richardson International Completes Acquisition of U.S. Durum Miller, Italgrani USA

August 3, 2021 (Winnipeg, MB) – Richardson International Limited subsidiary, Richardson Oilseed (U.S.) Holdings Limited, has successfully closed on an agreement to purchase Italgrani USA Inc., the single largest North American durum miller. The transaction was completed on schedule and as planned, satisfying all regulatory and closing requirements.

As part of the agreement, Richardson has acquired the following:

•  Milling facility in St. Louis, Missouri
• Storage and crop inputs facilities in Tolley, Powers Lake, and Benedict, North Dakota
• Merchandising office, Mayco Export, Inc., in Minneapolis, Minnesota

 A team of over 100 employees will join the broader Richardson network.

Italgrani USA President James Meyer says the acquisition is an important milestone for the company. “Our team is excited about the completion of this transaction and looks forward to joining the Richardson group of companies. We are confident that new opportunities will drive further innovation and growth in Italgrani’s business.”

“We are excited to further diversify our processing operations – building on the success of both our value-added canola crushing and oat milling businesses – and expand our grain origination capabilities in a new marketplace,” says Curt Vossen (President and CEO, Richardson International). “The U.S. is a natural fit for Richardson’s long-term growth strategy and we are proud of our history investing in and supporting the communities where our customers and employees live and work. We will continue in this tradition as we welcome all new employees into the fold.”

The acquisition follows a series of investment announcements from Richardson earlier this year, including the doubling of its Yorkton oilseed processing plant along with grain handling and milling facility expansion projects across Western Canada and abroad. In recent years, the Italgrani milling facility underwent a significant expansion to improve efficiencies and increase capacity by over 40%. Richardson will continue to look for opportunities to inject further capital into all newly acquired assets.

About Richardson International

Richardson International Limited is Canada’s largest agribusiness and is recognized as a global leader in agriculture and food processing. Based in Winnipeg, Manitoba, the company is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds and a vertically-integrated processor and manufacturer of oats and canola-based products. Over the past two decades, Richardson has become a significant player in the global food business, producing a wide variety of food products and ingredients for the retail, food service, and industrial markets. One of Canada’s Best Managed Companies, Richardson continues to grow, thanks to the dedication and innovative spirit of over 2,900 employees worldwide.

About Italgrani USA

Italgrani USA is the largest semolina and durum flour miller in North America, supported by award-winning grain elevator services in North Dakota and full-service grain merchandising in Minnesota. Situated along the Mississippi River, their mill and state-of-the-art grain unloading, storage, and barge loading facility are connected to all major railways for efficient distribution year-round. While headquartered in St. Louis, Missouri, the Italgrani facilities are strategically located across U.S. farm country, where American growers produce the highest quality durum and other in-demand grains. For more information, visit www.italgraniusa.com.

– 30 –

For more information, contact:

Kelcey Vossen

Communications and Public Relations

kelcey.vossen@richardson.ca

P: +1 204 934 4118