Montreal under the Birks brand, one retail location in Montreal under the TimeVallée brand, one retail location in Calgary under the Brinkhaus brand, one retail location in Vancouver under
the Patek Philippe brand, one retail location in Vancouver under the Chaumet brand, four retail locations in Laval, Ottawa and Toronto under the Breitling brand, one retail location in Toronto under the Omega brand, one retail location in Toronto
under the Montblanc brand, and four retail locations in the Greater Toronto Area under the European Boutique brand. Birks was founded in 1879 and has become Canada’s premier designer and retailer of fine jewelry, timepieces and gifts.
Additional information can be found on Birks’ website, www.birksgroup.com.
Forward Looking Statements
This press release contains forward looking statements which can be identified, for example, by their use of words such as: “plans,”
“expects,” “believes,” “will,” “anticipates,” “intends,” “projects,” “estimates,” “could,” “would,” “may,” “planned,”
“goal,” and other words of similar meaning. All statements that address expectations, possibilities or projections about the future, including without limitation, statements about expectations regarding the leadership transition, the
next phase of development, and pursuit of sustainable growth, operational excellence, and long-term value for our stakeholders, are forward-looking statements.
Because such statements include various risks and uncertainties, actual results might differ materially from those projected in the forward-looking statements
and no assurance can be given that the Company will meet the results projected in the forward-looking statements. Accordingly, the reader should not place undue reliance on forward-looking statements. These risks and uncertainties include, but are
not limited to the following: (i) heightened inflationary pressure and interest rates, a decline in consumer discretionary spending, increased cost of borrowing or deterioration in consumer financial position; (ii) the Company’s
ability to maintain a quotation for its Class A voting shares on the OTCQB or another trading market, and the liquidity and volatility of trading in the Class A voting shares on the OTCQB, (iii) economic, political and market
conditions, including the economies of Canada and the U.S., which could adversely affect the Company’s business, operating results or financial condition, including its revenue and profitability, through the impact of changes in the real
estate markets, changes in the equity markets and decreases in consumer confidence and the related changes in consumer spending patterns, and the impact on store traffic, tourism and sales, as well as tariffs (and retaliatory measures), possible
changes therefrom and other trade restrictions; (iv) the impact of fluctuations in foreign exchange rates, increases in commodity prices and borrowing costs and their related impact on the Company’s costs and expenses; (v) the
Company’s ability to maintain and obtain sufficient sources of liquidity to fund its operations, to achieve planned sales, gross margin and net income, to keep costs low, to implement its business strategy, to maintain relationships with its
primary vendors, to source raw materials, to mitigate fluctuations in the availability and prices of the Company’s merchandise, to compete with other jewelers, to succeed in its marketing initiatives (including with respect to Birks branded
products), and to have a successful customer service program; (vi) the Company’s plan to evaluate the productivity of existing stores, close unproductive stores and open new stores in new prime retail locations, renovate existing stores
and invest in its website and e-commerce platform; (vii) the Company’s ability to execute its strategic vision; (viii) the Company’s ability to invest in and finance capital expenditures;
and (ix) the Company’s ability to continue as a going concern.
Information concerning the above and other risk factors that could cause actual
results to differ materially is set forth under the captions “Risk Factors” and “Operating and Financial Review and Prospects” and elsewhere in the Company’s Annual Report on Form
20-F filed with the Securities and Exchange Commission on July 21, 2026 and subsequent filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or release any
revisions to these