Ms. Stephanie Nadalin reports

CANADIAN TIRE CORPORATION ANNOUNCES ELECTION OF DIRECTORS

At Canadian Tire Corp. Ltd.'s annual meeting of shareholders held today, the 16 director nominees set out in the company's management information circular dated March 16, 2023, were elected as directors of the company.

On a vote by a show of hands, the 13 individuals proposed by the board of directors as nominees were elected as directors of the company by the holders of common shares. The company received the proxy votes in advance of the meeting from the holders of common shares with respect to the election of the 13 director nominees, as shown in the attached table.

On a vote by a show of hands, the three individuals proposed by the board of directors as nominees were elected as directors of the company by the holders of Class A non-voting shares. The company received proxy votes in advance of the meeting from the holders of Class A non-voting shares with respect to the election of the three director nominees, as shown in the attached table.

Final voting results on all matters voted on at the meeting will be filed shortly with the Canadian securities regulators.

About Canadian Tire Corp.

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 active wear brands. The more than 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.