TORONTO, ON --(Marketwired - November 08, 2017) - Celestica Inc.
(NYSE: CLS) (TSX: CLS), a leader in design, manufacturing and
supply chain solutions for the world's most innovative companies, today announced the Toronto Stock Exchange (the TSX) has
accepted the Company's notice to launch its previously announced Normal Course Issuer Bid (the Bid).
Under the Bid, the Company may repurchase on the open market (or as otherwise permitted), at its discretion
during the period commencing on November 13, 2017 and ending on the earlier of November 12, 2018 and the completion of purchases
under the Bid, up to 10,459,516 subordinate voting shares, representing approximately 8.4% of the Company's outstanding
subordinate voting shares (7.3% of the subordinate voting shares and multiple voting shares) and approximately 10% of the "public
float" of the subordinate voting shares (within the meaning of the rules of the TSX), subject to the normal terms and limitations
of such bids. Under the TSX rules, the average daily trading volume of the subordinate voting shares on the TSX during the six
months ended October 31, 2017 was 235,679 and, accordingly, daily purchases on the TSX pursuant to the Bid will be limited to
58,919 subordinate voting shares, other than purchases made pursuant to the block purchase exception. The actual number of
subordinate voting shares which may be purchased pursuant to the Bid and the timing of any such purchases will be determined by
the management of the Company, subject to applicable law and the rules of the TSX. In accordance with the TSX rules, the maximum
number of subordinate voting shares which may be repurchased for cancellation under the Bid will be reduced by the number of
subordinate voting shares purchased for delivery pursuant to stock-based compensation plans.
Purchases are expected to be made through the facilities of the New York Stock Exchange and the Toronto Stock
Exchange, or such other permitted means (including through alternative trading systems in Canada), at prevailing market prices or
as otherwise permitted. The Bid will be funded using existing cash resources and draws on its credit facility, and any
subordinate voting shares repurchased by the Company under the Bid will be cancelled.
As of November 1, 2017, the Company had 125,086,344 issued and outstanding subordinate voting shares and a
"public float" (within the meaning of the rules of the TSX) of 104,595,160 subordinate voting shares.
The Company believes that the purchases are in the best interest of the Company and constitute a desirable use
of its funds.
The Company previously implemented a normal course issuer bid for its subordinate voting shares which expired
on February 23, 2017. Under its prior bid, the Company was authorized to purchase up to 10,510,680 subordinate voting shares and
repurchased and cancelled 3,204,451 subordinate voting shares. In the past 12 months, the Company repurchased 2,077,000
subordinate voting shares for delivery pursuant to the Company's stock-based compensation plans.
About Celestica
Celestica enables the world's best brands. Through our unrivalled customer-centric approach, we partner with
leading companies in aerospace and defense, communications, enterprise, healthtech, industrial, semiconductor capital equipment,
and smart energy to deliver solutions for their most complex challenges. A leader in design, manufacturing, hardware platform and
supply chain solutions, Celestica brings global expertise and insight at every stage of product development - from the drawing
board to full-scale production and after-market services. With talented teams across North America, Europe and Asia, we imagine,
develop and deliver a better future with our customers.
For more information, visit http://www.celestica.com.
Our securities filings can also be accessed at www.sedar.com and www.sec.gov.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements, including those related to the Company's intention
to commence the Bid and the timing and quantity of any purchases of subordinate voting shares under the Bid. Such forward-looking
statements may, without limitation, be preceded by, followed by, or include words such as "believes", "expects", "anticipates",
"estimates", "intends", "plans", "continues", "project", "potential", "possible", "contemplate", "seek", or similar expressions,
or may employ such future or conditional verbs as "may", "might", "will", "could", "should" or "would", or may otherwise be
indicated as forward-looking statements by grammatical construction, phrasing or context. For those statements, the Company
claims the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation
Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements are provided for the purpose of assisting
readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such
information may not be appropriate for other purposes. Forward-looking statements are not guarantees of future performance and
are subject to risks that could cause actual results to differ materially from conclusions, forecasts or projections expressed in
such statements, including, among others, risks related to the Company's future capital requirements, market and general economic
conditions, demand for the Company's customers' products, and unforeseen legal or regulatory developments. These and other risks
and uncertainties, as well as other information related to the Company, are discussed in the Company's various public filings
at www.sedar.com and www.sec.gov , including in the Company's interim Management's Discussion and Analysis of Financial
Condition and Results of Operations, the Company's Annual Report on Form 20-F and subsequent reports on Form 6-K filed with or
furnished to (as applicable) the U.S. Securities and Exchange Commission, and the Company's Annual Information Form filed with
the Canadian Securities Administrators. The forward-looking statements contained in this press release are based on various
assumptions, many of which involve factors that are beyond the Company's control. The material assumptions include those related
to the following: the Company's view with respect to its financial condition and prospects; the stability of general economic and
market conditions; currency exchange rates and interest rates; the availability of cash for repurchases of outstanding
subordinate voting shares under the Bid; the existence of alternative uses for the Company's cash resources which may be superior
to effecting repurchases under the Bid; compliance by third parties with their contractual obligations; and compliance with
applicable laws and regulations pertaining to the Bid. While management believes these assumptions to be reasonable under the
current circumstances, they may prove to be inaccurate. Except as required by applicable law, the Company disclaims any intention
or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or
otherwise.