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Mattel Enters into Cooperation Agreement with EdgePoint Investment Group Inc.

Business Wire

EdgePoint Partner Lee Matheson Joins Mattel Board of Directors

EL SEGUNDO, Calif., October 21, 2026--Mattel, Inc. (NASDAQ: MAT) ("Mattel" or the "Company") today announced that it has entered into a cooperation agreement with EdgePoint Investment Group Inc. ("EdgePoint"), an approximately 18% stockholder of the Company. In conjunction with the cooperation agreement, the Company has appointed Lee Matheson, a Partner at EdgePoint, to the Company's Board of Directors.

Roger Lynch, Chairman and CEO of Mattel, said: "We welcome Lee to Mattel's Board. Beyond his deep investor and public markets experience, his perspective as a Partner of Mattel's longstanding and largest shareholder adds a new dimension to our board as we advance our brand-centric strategy and capitalize on the potential of our business."

Professor Noreena Hertz, Chair of Mattel's Governance and Social Responsibility Committee, said: "Lee brings to Mattel significant public company board experience, as well as an extensive background in investment management and financing. His strengths will complement our board's existing capabilities as we continue to focus on enhancing value for shareholders."

Matheson said: "EdgePoint has been a Mattel investor and supporter for many years. The firm has long believed in the value of the Company's world-class brands and its premier intellectual property. I look forward to working alongside Roger and the entire board in pursuit of the shared goal of unlocking Mattel's intrinsic value for the benefit of all shareholders."

About Lee Matheson

Matheson is a Partner at EdgePoint Investment Group Inc. with a background spanning investment management, capital markets and board service. Prior to joining EdgePoint, he co-founded Broadview Capital Management Inc., where he served as portfolio manager of the Broadview Dark Horse LP, a long/short investment fund focused on Canadian small-cap securities. He currently serves on the Board of Directors of Tucows Inc., where he chairs the Governance Committee, and has previously served on the boards of Optiva Inc., Echelon Financial Holdings Inc., RDM Corporation, AlarmForce Industries Inc., WesternOne Inc., Medworxx Solutions Inc., exactEarth Ltd., and Strad Inc. He is a Chartered Financial Analyst (CFA) charterholder.

Cooperation Agreement

The cooperation agreement between Mattel and EdgePoint, which will be filed with the Securities and Exchange Commission (the "SEC") on a Form 8-K, includes customary voting, standstill, confidentiality and other provisions.

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