Tornado announces receipt of interim order on Toro Company plan of arrangement

Tornado Infrastructure Equipment has filed and is in the process of mailing its management information circular and related materials to securityholders in connection with its previously announced plan of arrangement involving the Company, The Toro Company (TTC) and Tornado Acquisition Company ULC, an affiliate of Toro, pursuant to which, among other things, all of the issued and outstanding Class “A” common shares in the capital of the Company will be acquired by the Purchaser for cash consideration of $1.92 per Share. The Company also announced that the Court of King’s Bench of Alberta has issued an interim order in connection with the Arrangement, authorizing the calling and holding of the Meeting and other matters related to the conduct of the Meeting, including the setting of October 31, 2025, as the record date for the Arrangement. The board of directors of the Company has unanimously determined that the Arrangement is in the best interests of the Company and is fair to the Shareholders and, accordingly, the Board unanimously recommends that the Securityholders vote FOR the Arrangement Resolution.