Mr. P.J. Czank reports

CANADIAN TIRE CORPORATION EXPANDS MARK'S STORE FOOTPRINT THROUGH BED, BATH & BEYOND LEASE ACQUISITION

Canadian Tire Corp. Ltd. has increased its store footprint through its agreement to acquire 10 strategic real estate leases, formerly held by Bed, Bath & Beyond in Canada, for a final purchase price of $1.6-million.

Acquiring these leases will enable Canadian Tire to continue building on the growth of its Mark's and Pro Hockey Life (PHL) banners. Canadian Tire has designated six of the 10 leases acquired for Mark's relocations in Grande Prairie, Medicine Hat, Red Deer and Strathcona county (Alberta), Langley (British Columbia), and Oakville (Ontario).

"Following our 10th consecutive quarter of growth in Q4 2022, Mark's is continuing to build on its incredible momentum in the Canadian market by strategically relocating six retail spaces to more convenient and larger sites," said P.J. Czank, president, Mark's. "These relocated stores will feature more products and deeper assortments of our best brands to meet the needs of our customers in Alberta, British Columbia and Ontario."

In addition to the Mark's relocations, the agreement will allow Canadian Tire to implement plans for four new Pro Hockey Life stores in Ontario. The 10 leases combined represent more than 242,000 square feet of retail space.

About Canadian Tire Corp. Ltd.

Canadian Tire is a group of companies that includes a retail segment, a financial services division and CT REIT. The company's retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its living, playing, fixing, automotive, and seasonal and gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The retail segment also includes Mark's, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best activewear brands. The close to 1,700 retail and gasoline outlets are supported and strengthened by Canadian Tire's financial services division and the tens of thousands of people employed across Canada and around the world by Canadian Tire and its local dealers, franchisees and petroleum retailers. In addition, Canadian Tire owns and operates Helly Hansen, a leading technical outdoor brand based in Oslo, Norway.