An anonymous director reports

ARITZIA ANNOUNCES NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Aritzia Inc.'s notice of intention to proceed with a normal course issuer bid (NCIB).

Under the NCIB, Aritzia may purchase up to 3,515,740 of its subordinate voting shares, representing approximately 5 per cent of the public float of 70,314,808 shares, during the 12-month period commencing Jan. 22, 2024, and ending Jan. 21, 2025. As at Jan. 8, 2024, there were 90,013,301 shares issued and outstanding. Under the NCIB, other than purchases made under block purchase exemptions, Aritzia may purchase up to 116,671 shares on the TSX during any trading day, which represents approximately 25 per cent of the average daily trading volume on the TSX for the most recently completed six calendar months (being 466,685 shares) prior to the TSX's acceptance of the notice of the NCIB. Any shares purchased under the NCIB will be cancelled.

Aritzia's board of directors believes that an NCIB represents an appropriate and desirable use of its available cash, after prioritizing investments in boutiques and strategic infrastructure, to increase shareholder value and is in the best interest of Aritzia and its shareholders. As at Nov. 26, 2023, the company had approximately $140.8-million of cash and cash equivalents. Any purchases made under the NCIB will be made by Aritzia subject to favourable market conditions at the prevailing market price at the time of acquisition through the facilities of the TSX and/or alternative Canadian trading systems.

Although the company presently intends to purchase shares under its NCIB, there can be no assurances that any such purchases will be completed. Any purchases made under NCIB will be made by Aritzia at the prevailing market price at the time of acquisition and through the facilities of the TSX or alternative Canadian trading systems, as applicable. The company may rely on an automatic purchase plan during the NCIB. The automatic purchase plan would allow for purchases by the company of shares during certain predetermined blackout periods, subject to certain parameters and approval of the TSX.

Pursuant to the company's prior normal course issuer bid, the company sought and received approval from the TSX to purchase up to 3,860,745 of its shares for the period from Jan. 20, 2023, to Jan. 19, 2024. As of Jan. 17, 2024, the company has repurchased a total of 1,089,641 shares on the market for cancellation at a volume-weighted average price of $27.51 per share for total cash consideration of $30-million under that prior bid.

About Aritzia Inc.

Aritzia is a design house with an innovative global platform. The company is a creator and purveyor of everyday luxury, home to an extensive portfolio of exclusive brands for every function and individual aesthetic. Aritzia is about good design, quality materials and timeless style -- all with the well-being of people and the planet in mind.

Founded in 1984, in Vancouver, Canada, the company prides itself on creating immersive, highly personalized shopping experiences at the Aritzia website and in its more than 115 boutiques throughout North America -- for everyone, everywhere.

Aritzia's approach

Aritzia means style, not trend, and quality over everything. The company treats each in-house label as its own atelier, united by premium fabrics, meticulous construction and an of-the-moment point of view. The company hand-picks fabrics from the world's best mills for their feel, function and ability to last. Aritzia obsesses over proportion, fit and that just-right silhouette. From hand-painted prints to the art of pocket placement, Aritzia's innovative design studio considers and reconsiders each detail to create essentials you will reach for again and again and again.

We seek Safe Harbor.