Mr. Darryl Jenkins of Canadian Tire reports

RBC AND CANADIAN TIRE CORPORATION ANNOUNCE STRATEGIC LOYALTY PARTNERSHIP, EXPANDING REWARDS AND ENHANCING VALUE FOR MILLIONS OF CANADIANS

Royal Bank of Canada and Canadian Tire Corp. Ltd. have formed a long-term strategic loyalty partnership between Avion Rewards and Triangle Rewards. This collaboration will enhance the value of both programs by linking millions of eligible RBC credit and debit cardholders to Triangle Rewards, enabling them to earn more Canadian Tire money while unlocking exclusive promotions at Canadian Tire, SportChek, Mark's and other Canadian Tire retail banners. The partnership expands the reach of Triangle Rewards and further strengthens Avion Rewards' strong network of merchant partners.

"We are bringing together two deeply rooted Canadian companies -- Canada's largest bank and the country's largest general merchandise retailer -- to increase the amount of everyday value, rewards and savings that we provide to our shared customers," said Vinita Savani, executive vice-president, cards and loyalty, RBC. "Our combined scale and unparalleled reach will leverage the strength of our businesses and leading loyalty programs to provide additional benefits for millions of Canadians in meaningful new ways."

"This partnership creates a loyalty powerhouse, combining strong brands and putting additional Canadian Tire money into the hands of cardholders and members," said Darryl Jenkins, executive vice-president and chief development officer, Canadian Tire. "It means millions of linked members will gain access to unique promotions and new ways to expand the value of their favourite loyalty programs every day. The partnership will increase our loyalty membership and drive retail sales across our banners."

Under this partnership, eligible RBC credit and debit cardholders will be able to earn Canadian Tire money at an accelerated rate when shopping at Canadian Tire's retail banners. They will also enjoy exclusive offers and promotions through RBC and Avion Rewards. These new offerings are expected to launch in 2026.

This partnership expands the ways linked members can earn through Triangle Rewards -- one of Canada's leading loyalty programs. Triangle Rewards enables nearly 12 million loyalty members to collect and redeem Canadian Tire money across Canadian Tire's banners. A cornerstone of Canadian Tire's new True North strategy, Triangle Rewards is enhancing its value to Canadians through more personalized offers and a co-ordinated strategy combining its banner stores, the unique retail-driving capability of Triangle Cards, and everyday partners such as Petro-Canada, RBC and other leading brands currently in negotiation.

Avion Rewards, Canada's largest proprietary loyalty program, has been a leader in loyalty for more than 20 years and is available to all Canadians, regardless of where they bank. It provides Canadians with the flexibility to shop, save, earn and redeem for everyday merchandise and aspirational rewards and experiences. With its market-leading travel value proposition, extensive roster of over 2,000 retail partners, unparalleled experiences, innovative features and payment capabilities, Avion Rewards provides its members with a comprehensive rewards experience that spans their entire shopping journey.

About Royal Bank of Canada

RBC is a global financial institution with a purpose-driven, principle-led approach to delivering leading performance. The company's success comes from the more than 98,000 employees who leverage their imaginations and insights to bring the bank's vision, values and strategy to life so RBC can help its clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, RBC has a diversified business model with a focus on innovation and providing exceptional experiences to its more than 19 million clients in Canada, the United States and 27 other countries.

About Canadian Tire Corp. Ltd.

Canadian Tire has been a proudly Canadian business since 1922. Guided by its brand purpose, "we are here to make life in Canada better," Canadian Tire has built an expansive national retail presence, exceptional customer brand trust and one of Canada's strongest work forces -- employing, along with its local sealers and franchisees, tens of thousands of Canadians. At its core are retail businesses, each designed to serve life's pursuits: Canadian Tire, offering products spanning living, playing, fixing, automotive, and seasonal and gardening, bolstered by notable banners Party City and PartSource; Mark's, a leading source for casual and industrial wear; SportChek, Hockey Experts, Sports Experts and Atmosphere, offering the best brands of active wear and gear; and Pro Hockey Life, a hockey specialty store catering to elite players. Canadian Tire's banners, brand partners and credit card offerings are unified through its Triangle Rewards loyalty program -- a linchpin of Canadian Tire's customer-driven strategy. With nearly 12 million members, Triangle integrates first party data to deliver valuable rewards and personalized experiences across nearly 1,700 retail and gasoline outlets. Canadian Tire also operates a retail petroleum business and a financial services business and holds a majority interest in CT Real Estate Investment Trust, a Toronto Stock Exchange listed Canadian real estate investment trust.

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