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EXFO Inc. ("EXFO" or the "Corporation") (NASDAQ:EXFO) (TSX:EXF), is pleased to announce that Institutional Shareholder Services Inc. (ISS), a leading third party proxy advisory firm, which, among other services, provides voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders has recommended that EXFO shareholders vote in favour of the going private transaction proposed by 11172239 Canada Inc, (the "Purchaser"), a corporation controlled by Mr. Germain Lamonde. The proposed going private transaction, to be effected by way of a plan of arrangement between EXFO and the Purchaser is to be voted on at the special meeting of shareholders to be held on August 13, 2021 (the "Meeting").
To proactively deal with the unprecedented public health impact of COVID-19, the Meeting will be held in a virtual only format, which will be conducted via live audio webcast online at https://web.lumiagm.com/436109447 at 10:00 a.m. (Québec City time) on August 13, 2021.
Additional details regarding the terms and conditions of the proposed transaction as well as the rationale for the recommendations made by the Special Committee and the Board of Directors is set out in the management proxy circular filed and mailed to shareholders, which, together with the Arrangement Agreement, is available under EXFO's profile at www.sedar.com.
In connection with the transaction, the Corporation has prepared and mailed a Schedule 13E-3 Transaction Statement (the "Schedule 13E-3"). The Schedule 13E-3 has been filed with the SEC. INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE SCHEDULE 13E-3 AND OTHER MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE CORPORATION, THE TRANSACTION, AND RELATED MATTERS. In addition to receiving the Schedule 13E-3 by mail, shareholders will also be able to obtain these documents, as well as other filings containing information about the Corporation, the transaction, and related matters, without charge from the SEC's website (http://www.sec.gov).