An anonymous director reports

CANADIAN TIRE CORPORATION PRICES PRIVATE PLACEMENT OFFERING OF AGGREGATE C$600 MILLION UNSECURED MEDIUM TERM NOTES

Canadian Tire Corp. Ltd. today priced a private placement offering of $600-million aggregate principal amount of unsecured medium term notes, consisting of $400-million aggregate principal amount of 5.372 per cent Series G unsecured medium term notes due Sept. 16, 2030, and $200-million aggregate principal amount of floating rate Series H unsecured medium term notes due Sept. 14, 2026. The Series G notes were priced at par, for an effective yield of 5.372 per cent per annum if held to maturity. The Series H notes were priced at par and bear interest at a per annum rate of daily compounded CORRA plus 1.00 per cent payable quarterly. The offering is expected to close on or about Sept. 14, 2023.

It is expected that the notes will be rated BBB, with a stable trend, by DBRS Ltd. and BBB, by S&P Global Ratings.

CTC intends to use the net proceeds from the offering and sale of the notes for the repayment of short-term borrowings and general corporate purposes.

BMO Capital Markets, CIBC World Markets and RBC Capital Markets acted as joint bookrunners for the offering of the notes.

The notes are being offered on a private placement basis in each of the provinces of Canada in reliance upon exemptions from the prospectus requirements under applicable securities legislation.

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.

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