Maple Leaf Foods Inc.

(TSX: MFI)
Exchange rate used is that of the Year End reported date

As Reported Annual Balance Sheet

Report Date 12/31/2009

Currency CAD
Audit Status Not Qualified
Consolidated Yes
Scale Thousands

Current Assets
Cash & cash equivalents $ 29,316
Accounts receivable $ 200,317

Raw materials $ 49,644

Work in progress $ 54,164
Finished goods $ 182,687
Packaging $ 25,697
Spare parts $ 37,717
Material held for production -
Finished products
Inventories $ 349,909

Income & other taxes recoverable $ 18,067

Future tax asset $ 4,301
Prepaid expenses & other current assets $ 15,328
Assets held for sale -
Total current assets $ 617,238

Long Term Assets

Investments in associated companies -
Land $ 66,601
Buildings $ 699,301
Machinery & equipment $ 1,612,595
Construction in progress $ 123,854
Land held for development or sale -
Property & equipment, gross $ 2,502,351
Less: accumulated depreciation - property & equipment $ 1,367,295
Property & equipment $ 1,135,056

Other long-term assets $ 328,063

Future tax assets $ 22,116
Goodwill $ 857,278
Other intangible assets $ 97,713
Total assets $ 3,057,464
Current Liabilities
Bank indebtedness $ 4,247
Accounts payable & accrued charges $ 489,182
Income & other taxes payable -
Current portion of long-term debt $ 206,147
Other current liabilities $ 37,837
Total current liabilities $ 737,413

Long-term debt $ 834,557

Future tax liability $ 27,851
Other long-term liabilities $ 187,523
Non-controlling interest $ 81,070

Shareholder's Equity
Share capital $ 869,485
Retained earnings (accumulated deficit) $ 344,839
Contributed surplus $ 53,429
Subscription receipts -
Unrealized foreign currency adjustment -
Accumulated other comprehensive income (loss) $ (54,204)
Treasury stock $ 24,499
Total shareholders' equity $ 1,189,050
Total liabilities & shareholders' equity $ 3,057,464
12/31/2008 12/31/2007 12/31/2006
CAD CAD CAD
Not Qualified Not Qualified Not Qualified
Yes Yes Yes
Thousands Thousands Thousands

$ 365,518 $ 28,222 $ 64,494

$ 139,144 $ 202,285 $ 263,806

$ 62,014 - -
$ 55,933 - -
$ 197,723 - -
$ 27,208 - -
$ 34,536 - -
- $ 198,547 $ 238,593
- $ 152,517 $ 189,253
$ 377,414 $ 351,064 $ 427,846

$ 20,971 - -
$ 19,787 $ 25,409 $ 2,321
$ 32,289 $ 16,529 $ 11,986
- $ 10,092 -
$ 955,123 $ 633,601 $ 770,453

- $ 1,207 $ 22,110
$ 62,485 $ 59,752 $ 71,564
$ 715,733 $ 625,351 $ 646,742
$ 1,606,725 $ 1,472,548 $ 1,534,057
$ 132,580 $ 165,434 $ 128,613
- - $ 70
$ 2,517,523 $ 2,323,085 $ 2,381,046
$ 1,348,088 $ 1,196,358 $ 1,193,648
$ 1,169,435 $ 1,126,727 $ 1,187,398

$ 329,070 $ 303,360 $ 282,091

$ 24,854 $ 22,837 $ 23,464
$ 876,261 $ 817,477 $ 902,663
$ 97,358 $ 92,635 $ 87,547
$ 3,452,101 $ 2,997,844 $ 3,275,726
$ 8,894 $ 9,845 -
$ 600,924 $ 550,528 $ 665,886
- $ 12,881 $ 20,457
$ 179,244 $ 17,945 $ 91,490
$ 28,456 - -
$ 817,518 $ 591,199 $ 777,833

$ 1,200,224 $ 855,281 $ 1,186,538

$ 37,903 $ 61,935 $ 29,475
$ 179,039 $ 248,448 $ 197,201
$ 74,447 $ 79,554 $ 90,237

$ 800,734 $ 797,658 $ 769,696

$ 314,649 $ 390,784 $ 204,415
$ 48,117 $ 38,462 $ 30,140
$ 66,936 - -
- - $ 9,809
$ (52,331) $ (35,423) -
$ 35,135 $ 30,054 -
$ 1,142,970 $ 1,161,427 $ 994,442
$ 3,452,101 $ 2,997,844 $ 3,275,726
12/31/2005
CAD
Not Qualified
Yes
Thousands

$ 80,502
$ 247,014

-
-
-
-
-
$ 216,588
$ 184,260
$ 400,848

-
$ 15,329
$ 12,104
-
$ 755,797

$ 61,939
$ 72,233
$ 594,651
$ 1,447,956
$ 90,456
$ 1,993
$ 2,207,289
$ 1,069,972
$ 1,137,317

$ 261,907
$ 38,499
$ 847,853
$ 86,468
$ 3,189,780
-
$ 669,941
$ 31,727
$ 110,428
-
$ 812,096

$ 1,032,829
$ 56,183
$ 202,576
$ 87,425

$ 765,666
$ 231,807
$ 19,756
-
$ 18,558
-
-
$ 998,671
$ 3,189,780
Maple Leaf Foods Inc. (TSX: MFI)
Exchange rate used is that of the Year End reported date

As Reported Annual Income Statement

Report Date 12/31/2009 12/31/2008 12/31/2007
Currency CAD CAD CAD
Audit Status Not Qualified Not Qualified Not Qualified
Consolidated Yes Yes Yes
Scale Thousands Thousands Thousands
Sales $ 5,221,602 $ 5,242,602 $ 5,209,640
Cost of goods sold $ 4,487,378 $ 4,622,409 -
Gross margin $ 734,224 $ 620,193 -

Selling, general & administrative expenses $ 538,113 $ 491,778 -

Earnings from operations before the following $ 196,111 $ 128,415 $ 199,056
Restructuring & other related costs - - $ 122,304
Product recall, restructuring & other related costs $ 31,145 $ 102,812 -
Earnings (loss) from continuing operations - - $ 76,752
Other income (expense) $ 3,613 $ 24,864 $ 4,578
Earnings (loss) from continuing operations before interest & in $ 168,579 $ 50,467 $ 81,330
Interest expense $ 81,234 $ 88,651 $ 94,122
Earnings (loss) from continuing operations before income taxes $ 87,345 $ (38,184) $ (12,792)
Income taxes $ 27,296 $ (8,538) $ 801
Earnings (loss) from continuing operations before non-controllin $ 60,049 $ (29,646) $ (13,593)
Non-controlling interest $ 7,902 $ 7,211 $ 9,639
Net earnings (loss) from continuing operations - $ (36,857) $ (23,232)
Net earnings from discontinued operations - - $ 230,376
Net earnings (loss) $ 52,147 $ (36,857) $ 207,144

Weighted average shares outstanding - basic 129,800 126,700 127,300

Weighted average shares outstanding - diluted 132,300 126,700 130,100
Year end shares outstanding 136,774.80 129,258.68 129,600.27
Earnings (loss) per share - continuing operations - basic - -0.29 -0.18
Earnings (loss) per share - discontinued operation - basic - - 1.81
Net earnings (loss) per share - basic 0.4 -0.29 1.63
Earnings (loss) per share - continuing operation - diluted - -0.29 -0.18
Earnings (loss) per share - discontinued operation - diluted - - 1.77
Net earnings (loss) per share - diluted 0.39 -0.29 1.59
12/31/2006 12/31/2005
CAD CAD
Not Qualified Not Qualified
Yes Yes
Thousands Thousands
$ 5,895,218 $ 6,462,581
- -
- -

- -
$ 223,898 $ 263,034
$ 64,618 $ (13,157)
- -
$ 159,280 $ 249,877
$ 3,026 $ 6,977
$ 162,306 $ 256,854
$ 99,104 $ 98,317
$ 63,202 $ 158,537
$ 52,469 $ 51,308
$ 10,733 $ 107,229
$ 6,208 $ 12,987
- -
- -
$ 4,525 $ 94,242

127,530 126,813
129,352 130,057
127,135.87 127,704.81
- -
- -
0.04 0.74
- -
- -
0.03 0.72