Ms. Kim Thomassin of CPDQ reports

CDPQ INVESTS IN COGECO COMMUNICATIONS

Caisse de depot et placement du Quebec (CPDQ) has made an investment in Cogeco Communications Inc. following the purchase of the block of shares held by Rogers Communications Inc. CDPQ will hold $350-million of the capital of this Quebec leader, one of the top 10 cable companies in North America, upon the closing of this transaction, which was announced earlier today.

"Already active with Cogeco Communications through past acquisitions, CDPQ is supporting the growth projects of this leading telecommunications company as connectivity needs continue to grow. This major share purchase, orchestrated by CDPQ, is key for the company and its plan to develop the North American market," said Kim Thomassin, executive vice-president and head of Quebec at CDPQ.

"We're delighted by an even stronger engagement by the CDPQ," said Philippe Jette, president and chief executive officer of Cogeco Inc. and Cogeco Communications. "This transaction is a unique opportunity for us to build shareholder value while pursuing the delivery of our strategic plan," added Mr. Jette.

Cogeco is a growing competitive force in today's telecommunications sector. Through its business units, Cogeco Connexion in Canada and Breezeline in the United States, it provides Internet, video and telephone services in Quebec, Ontario and 13 U.S. states.

CDPQ first invested in Cogeco Communications in 2013 by providing a $50-million loan. In 2017, CDPQ also contributed $315-million (U.S.) toward the transaction to acquire MetroCast cable systems in the United States. At $1.4-billion (U.S.), this transaction is Cogeco Communications' largest acquisition to date.

About Caisse de depot et placement du Quebec

CDPQ invests constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, CPDQ works alongside its partners to build enterprises that drive performance and progress. CPDQ is active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2023, CDPQ's net assets totalled $424-billion.

About Cogeco Communications Inc.

Rooted in the communities it serves, Cogeco Communications is a growing competitive force in the North American telecommunications sector, serving 1.6 million residential and business customers. Through its business units Cogeco Connexion and Breezeline, Cogeco Communications provides Internet, video and phone services in Canada as well as in 13 states in the United States. Cogeco Communications' subordinate voting shares are listed on the Toronto Stock Exchange.