Roots

The Q2 2026 MD&A dated September 10, 2026 states that investment funds managed by Searchlight Capital Partners, L.P. own approximately 52.4% of the shares and that the founders' wholly owned entities hold a minority interest; the 2022 circular named no other holder above 10%. Searchlight's fund entities are registered with the SEC at 745 Fifth Avenue, New York, so the controlling stake is allocated to the US; the remaining 47.6%, held by the founders, Toronto investment firm Kernwood Limited, directors and the TSX float, is allocated to Canada as the listing venue with a small allowance for US holders in the float, which is an estimate. Corporations Canada confirms Roots Corporation as an active CBCA corporation registered at 1400 Castlefield Avenue, Toronto; SEDAR+ returned 403 so filings were read from the vendor-hosted SEDAR copies. An arrangement announced August 20, 2026 would see Marquee Brands LLC of New York acquire all shares at C$4.10 through JM&A Design and Development Inc. of Toronto, with a shareholder meeting on October 13, 2026 and closing targeted for the fourth quarter of 2026; the deal has not closed and the split above is the pre-closing position.

• Roots Corporation Management's Discussion and Analysis of Financial Condition and Results of Operations (Second Quarter Ended August 1, 2026) filing “Investment funds managed by Searchlight own approximately 52.4% of the total issued and outstanding Shares. Shareholders of a company formerly known as Roots Canada Ltd., through founders Michael Budman and Don Green's wholly-owned entities (the "Founders"), continue to own a minority interest of the total issued and outstanding Shares.”
• Roots Corporation Management's Discussion and Analysis of Financial Condition and Results of Operations (Second Quarter Ended August 1, 2026) filing “On August 20, 2026, the Company entered into an arrangement agreement whereby Marquee Brands, through its operating partner JM&A Design and Development Inc., would acquire all of the Company's issued and outstanding Shares at a price of $4.10 per share in cash”
• Roots Corporation Fiscal Year 2024 Report filing “On October 14, 2015, Searchlight Capital Partners, L.P. ("Searchlight") incorporated Roots Corporation under the laws of Canada and its subsidiary, Roots USA Corporation, under the laws of the State of Delaware.”
• Roots Corporation Management Information Circular, Annual Meeting of Shareholders, June 13, 2022 filing “The directors and officers of Roots are not aware of any person or company that beneficially owns, directly or indirectly, or exercises control or direction over more than 10% of the total outstanding Shares, other than Searchlight, which beneficially owns, directly or indirectly, or exercises control or direction over 20,519,887 Shares, which represents approximately 49.2% of our issued and outstanding Shares.”
• Federal corporation information - 947466-8 - Online Filing Centre - Corporations Canada registry “ROOTS CORPORATION Status: Active Corporation number: 947466-8 Governing legislation: Canada Business Corporations Act - 2015-10-14 Registered office address 1400 Castlefield Avenue Toronto ON M6B 4C4”
• EDGAR company search results for Searchlight Capital Partners registry “745 FIFTH AVENUE, 27TH FLOOR NEW YORK NY”
• Roots Corporation Agrees to Go Private in Transaction Led by Marquee Brands, in Partnership with Canadian Retail Leaders Joseph Mimran and Frank Rocchetti, to Position Roots for Next Chapter of Global Growth vendor_statement “Searchlight Capital Partners, L.P. and Kernwood Limited and all directors and senior officers of the Company, representing approximately 69% of the total voting interest, have entered into agreements to vote in favour of the transaction.”
• MARQUEE BRANDS other “330 West 34th Street, 15th Floor New York, NY 10001”

The company's FAQ says clothing is designed in Toronto and then made by manufacturers around the world under its code of conduct, while most leather goods are made at its own Toronto leather factory; the MD&A confirms only select leather products are made in-house and that purchased product is priced in US dollars. Roots does not publish the countries or the revenue share of its contract manufacturers, so the split is an estimate: the Made in Canada collection lists 309 items against about 2,800 in a full site search, and a sample of product pages showed some small leather goods marked imported, so leather and a small run of Canadian-sewn fleece are placed at about a fifth and the rest in OTHER on the assumption that offshore apparel manufacturing is concentrated in Asia. The CANADA List records manufacturing as Canada and Asia, which corroborates but does not raise confidence.

• Frequently Asked Questions - FAQs | Roots vendor_statement “Once the item is designed we source out the best manufacturers around the world who must comply with our stringent Code of Conduct to manufacture Roots goods to our demanding specifications. Additionally, most of our leather goods are manufactured at our state-of-the-art factory in Toronto.”
• Made in Canada clothing, bags, and accessories | Roots vendor_statement “Every item on this Made in Canada collection is manufactured right here at our Toronto Leather Factory and Canadian textile facilities.”
• Our Story | Roots vendor_statement “These leather classics continue to be designed and handcrafted in Canada at our Toronto Leather Factory.”
• Card Holder Cervino | Roots vendor_statement “Imported”
• Roots Corporation Fiscal Year 2024 Report filing “For select leather products manufactured by us in-house, cost of goods sold includes the cost of manufacturing our products, including raw materials, direct labour and overhead, plus freight costs.”
• The CANADA List directory “Manufacturing (Countries): Canada / Asia”

Head office, design centre, leather factory and the single distribution centre are all in Toronto, and the company says it has over 2,000 Canadian employees. The Q2 2026 MD&A counts 97 corporate stores and 10 pop-ups in Canada against two corporate stores in the United States, and the more than 100 Asian stores are partner-operated rather than staffed by Roots, so the small US share covers the two US stores and the Delaware subsidiary. No total headcount by country is published.

• Our Story | Roots vendor_statement “115 stores nationwide with over 2,000 Canadian employees.”
• Roots Corporation Management's Discussion and Analysis of Financial Condition and Results of Operations (Second Quarter Ended August 1, 2026) filing “operated 97 corporate retail stores and 10 temporary pop-up locations in Canada, two corporate retail stores in the United States, and an eCommerce platform, roots.com. We have more than 100 partner-operated stores in Asia”
• Roots Corporation Fiscal Year 2024 Report filing “Its head office and registered office is located at 1400 Castlefield Avenue, Toronto, Ontario M6B 4C4.”

Roots names no fabric or trim suppliers; its product pages list organic cotton and recycled polyester fleece without origin, and the MD&A says purchased inventory is priced in US dollars. Leather is the one traced input: the company is a Leather Working Group member, its Greener Pastures hides follow USDA protocols, and its Cervino leather is tanned near Venice, so modest US and EU shares cover hides and tanned leather while the Canadian share reflects the Toronto factory's local cutting and finishing. The largest share goes to OTHER on the assumption that cotton and polyester fabrics for offshore-made apparel are sourced in Asia; the split is an estimate. The storefront runs on Salesforce Commerce Cloud, a US platform, but the company's own stores make it one channel among several.

• Sustainability | Roots vendor_statement “Greener Pastures Leathers, part of LITE Sourcing, are traceable to the farm of ranch and follow the USDA Humane Handling program protocols.”
• Card Holder Cervino | Roots vendor_statement “Cervino leather is made in a tannery in the north of Italy close to Venice”
• Kids Organic Original Sweatpant | Roots vendor_statement “80% organic cotton, 20% recycled polyester fleece”
• Roots Corporation Management's Discussion and Analysis of Financial Condition and Results of Operations (Second Quarter Ended August 1, 2026) filing “Products purchased from our manufacturers are predominantly sourced in U.S. dollars which exposes our cost of goods sold to foreign currency fluctuations.”