Mr. Blaik Kirby reports

BEST BUY CANADA AND BELL CANADA PARTNER TO DELIVER THE NEXT EVOLUTION OF CONSUMER ELECTRONICS RETAIL FOR CANADIAN CONSUMERS

Best Buy Canada and BCE Inc.'s Bell Canada have entered into a strategic partnership to operate 165 consumer electronics retail stores in Canada. The Source, a wholly owned subsidiary of Bell, will be rebranded as Best Buy Express and offer the latest in consumer electronics from Best Buy along with exclusive telecommunications services from Bell.

• Best Buy Canada and Bell to operate 165 small-format consumer electronics retail stores across Canada, branded Best Buy Express;
• Best Buy Express stores to offer leading consumer electronics from Best Buy, and wireline and wireless services from Bell, Virgin Plus and Lucky Mobile.

This innovative partnership will make the most of the respective strengths of Best Buy and Bell to deliver an exceptional shopping experience for Canadians. Best Buy and Bell will invest in an updated store experience, as well as an expanded product assortment, customer experience and training. Customers will benefit from Best Buy's expertise in consumer electronics to find the latest products from the world's leading brands, its global buying power and industry-leading supply chain. In addition, customers will find Bell, Virgin Plus and Lucky Mobile mobility, Internet, TV, and home phone services, all backed by knowledgeable sales and support they have come to expect from Best Buy and Bell.

Best Buy will expand its presence in malls and in smaller and mid-sized communities across the country, leveraging 165 The Source locations that will augment Best Buy's presence throughout Canada. Best Buy Express's small-store format will give customers an easy-to-navigate, welcoming experience, enabling customers to experience the products in person and talk with a sales associate before purchasing. As today's customers increasingly want to shop in ways that are convenient for them, whether in store or on-line, the e-commerce power of the Best Buy website will offer customers a wider selection of consumer electronics with the option for full delivery or pickup of on-line orders in Best Buy or Best Buy Express stores.

Best Buy Express is expected to open in locations across Canada starting in the second half of 2024.

Quotes

"We're excited to collaborate with Bell on this unique venture to expand Best Buy's presence to new communities across the country. We're very proud of our store experience and these updated small stores are sure to appeal to new and existing Best Buy customers," said Ron Wilson, president, Best Buy Canada.

"We're excited to join forces with Best Buy to deliver a groundbreaking partnership that will resonate with Canadian consumers. By combining Canada's award-winning mobility and Internet from Bell, and converting The Source's extensive retail footprint to Best Buy's leading consumer electronics experience, we're giving customers the best of all worlds for tech and telecommunications retail in Canada," said Blaik Kirby, group president, consumer and small and medium business, Bell.

About BCE Inc.

BCE is Canada's largest communications company, providing advanced Bell broadband wireless, Internet, TV, media and business communications services.