Mr. Greg Hicks reports

CANADIAN TIRE CORPORATION AND MICROSOFT PARTNER TO ADVANCE RETAIL INNOVATION IN CANADA

Canadian Tire Corp. Ltd. and Microsoft have arranged a flagship strategic retail partnership to drive innovation across Canada's retail industry, and contribute to the country's overall advancement and adoption of new technology. Through this seven-year partnership, Canadian Tire will leverage Microsoft Azure to modernize its systems and infrastructure, and utilize direct access to Microsoft's trusted cloud products and solutions, expertise and upskilling capabilities. Canadian Tire will use these new abilities to increase the speed and efficiency of its business modernization, enhancing customers' omnichannel journey and brand experiences across its group of companies.

This strategic partnership with Microsoft marks a major milestone in Canadian Tire's modernization journey. The two companies will partner to advance business capabilities through three core areas:

• Provide a trusted platform to enable flexibility and scalability to drive growth: Microsoft will become Canadian Tire's strategic cloud provider, with Canadian Tire migrating the majority of its IT (information technology) infrastructure onto the Microsoft Azure platform. The migration will allow Canadian Tire to accelerate its data-driven journey, speed to market, enhancement of customer experience and personalized offers.
• Enhance digital capabilities: Direct access to Microsoft's world-class digital technology, expertise and upskilling capabilities will help Canadian Tire modernize systems and develop top talent to increase its speed of innovation to better serve Canadians.
• Co-innovate to drive the future of retail in Canada: Exploring co-innovation opportunities that leverage AI (artificial intelligence) and machine learning responsibly to enhance customer experience, optimize operations and unlock new opportunities for Canadian retail.

"Canadian Tire Corp.'s partnership with Microsoft will enable us to further modernize our capabilities and systems, rapidly expediting our digital transformation and adaptability, a key component of our growth strategy," said Greg Hicks, president and chief executive officer, Canadian Tire. "By combining our unrivalled understanding of Canadians with Microsoft's cutting-edge technology and expertise -- we will achieve greater stability and scale, and unleash our collective expertise to drive exciting retail innovation not only at CTC but across Canada."

"Today's technology and AI advancements are helping unlock innovation across the industry -- opening the door for retailers to reimagine the shopping experience for their customers," said Judson Althoff, executive vice-president and chief commercial officer, Microsoft. "With Microsoft as its strategic cloud partner, Canadian Tire Corp. will leverage the power of the Microsoft Cloud and its AI capabilities to better meet customer demand, and deliver more seamless and personalized digital experiences for shoppers across Canada."

"We are pleased to announce our strategic partnership with Canadian Tire Corp., one of Canada's most renowned retail brands that shares our mutual commitment to innovation and customer-centricity," said Chris Barry, president of Microsoft Canada. "This collaboration marks an exciting chapter for both companies as we join forces to bring new retail experiences to Canadians with the power of the Microsoft Cloud and AI."

"Driving innovation has always been a core value of Canadian Tire Corp. We are excited to be Microsoft's Canadian retail flagship partner tapping into their cutting-edge technology, and expertise in cloud transformation and artificial intelligence to further modernize our operations and drive retail innovation," said Rex Lee, chief information and technology officer at Canadian Tire. "Through our partnership with Microsoft, and supported by our trusted engineering partner and digital system integrator, EPAM, we will amplify our impact and accelerate our digital efforts to enhance our customers' omnichannel journey and brand experiences no matter where they choose to shop."

About Canadian Tire Corp. Ltd.

Canadian Tire is a group of companies that includes a retail segment, a financial service 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 service 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.