MONTREAL, Nov. 16, 2022 /CNW Telbec/ - MTY Food Group Inc. ("MTY", "MTY Group" or the "Company") (TSX: MTY), a franchisor and operator of multiple restaurant concepts worldwide, announced today the release of its initial Sustainability Report.

The report, based on the Sustainability Accounting Standards Board (SASB) and Global Reporting Initiative's (GRI) reporting standards, summarizes the progress MTY made in fiscal 2021 and outlines commitments for future years. It covers material topics related to the Company including people and culture; governance; cybersecurity and data protection; food security and supply-chain management; food safety and product quality; and environmental impact.

A cross-functional team spanning all divisions was established to report on achievements and establish consistent objectives across all business units. A second Sustainability Report, encompassing 2022 initiatives, is already being planned for 2023 with subsequent reports published annually thereafter.

A sampling of metrics for upcoming years include:

• Publish, or make accessible, nutritional information, ingredient lists and the allergen cards of core menu items for the top 50 brands by 2023, and for all brands by 2024
  
  
• Replace hard-to-recycle plastics with alternative packaging, such as renewable or recyclable products, for use in MTY's Canadian operations by the end of 2023
  
  
• Evaluate current diversity, equity and inclusion (DEI) practices and efforts, identify and explore opportunities for improvement, and engage with a third-party firm to set a DEI strategy by 2023

"We are proud to present our first Sustainability Report centered on the pillars of food, planet and people that are fundamental to MTY," stated Eric Lefebvre, Chief Executive Officer. "While we have made key strides in the past year, we acknowledge there is still a lot of work to be done. Setting measurable goals and reviewing priorities as our environment evolves will help us along our journey of continuous improvement over the upcoming years."

To view MTY's Sustainability Report, please visit https://sustainability.mtygroup.com/

Certain information in this press release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors, which may cause the actual results, performance or achievements of the Company or industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. This includes statements regarding the impacts that the novel COVID-19 pandemic may have on the Company's future operations as found in this release. When used in this press release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this press release. Except as required by law, the Company assumes no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Company's MD&A, which can be found on SEDAR at www.sedar.com.

MTY Group franchises and operates quick-service and casual dining restaurants under approximately 90 different banners in Canada, the United States and internationally. Based in Montreal, MTY is a family whose heart beats to the rhythm of its brands, the very soul of its multi-branded strategy. For over 40 years, it has been increasing its presence by delivering new concepts in quick-service restaurants and making acquisitions and strategic alliances that have allowed it to reach new heights year after year. By combining new trends with operational know-how, the brands forming the MTY Group now touch the lives of millions of people every year. With nearly 7,000 locations in operation, the many flavours of the MTY Group have the key to responding to the different tastes and needs of consumers today and tomorrow.

visit our website: www.mtygroup.com or SEDAR's website at www.sedar.com under the Company's name.

SOURCE MTY Food Group Inc.

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