An anonymous director reports

DOLLARAMA ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Dollarama Inc. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid in order to purchase for cancellation up to 13,695,242 of its common shares, representing approximately 4.8 per cent of the 283,376,026 common shares issued and outstanding as at June 30, 2023, during the 12-month period starting on July 7, 2023, and ending no later than July 6, 2024.

Purchases will be conducted through the facilities of the TSX and Canadian alternative trading systems. Dollarama may also purchase common shares for cancellation by way of private agreements or specific share repurchase programs under issuer bid exemption orders issued by a securities regulatory authority. Purchases made on the open market through the facilities of the TSX and Canadian alternative trading systems will be at the prevailing market price at the time of acquisition. Purchases made by way of private agreement under an issuer bid exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price at the time of the acquisition. Purchases made under a specific share repurchase program will be at a discount to the volume-weighted average trading price of the common shares on the Canadian markets on the date of the purchase. All shares purchased pursuant to the normal course issuer bid will be cancelled.

The average daily trading volume of the common shares on the TSX over the period between Jan. 1, 2023, and June 30, 2023, as calculated per TSX rules, was 600,689 common shares. Consequently, under TSX rules, Dollarama will be allowed to purchase daily, through the facilities of the TSX, a maximum of 150,172 common shares, representing 25 per cent of such average daily trading volume. In addition, Dollarama may make, once per week, a block purchase (as such term is defined in the TSX company manual) of common shares not directly or indirectly owned by insiders of Dollarama, in accordance with TSX rules.

Under the normal course issuer bid which is set to expire on July 6, 2023, Dollarama received approval from the TSX to purchase for cancellation up to 18,713,765 common shares. As at June 30, 2023, Dollarama had repurchased a total of 6,791,075 common shares thereunder at a weighted average price of $82.10 per common share. Such purchases were effected through the facilities of the TSX and Canadian alternative trading systems.

The board of directors of Dollarama believes that the purchase by Dollarama of its common shares continues to represent an appropriate and desirable use of its available funds to increase shareholder value.

About Dollarama Inc.

Dollarama is a recognized Canadian value retailer offering a broad assortment of consumable products, general merchandise and seasonal items, both in store and on-line. Dollarama's 1,507 locations across Canada provide customers with compelling value in convenient locations, including metropolitan areas, mid-sized cities and small towns. Select products are also available, by the full case only, through the company's on-line store. Dollarama's quality merchandise is sold at select fixed price points up to $5.

Dollarama also owns a 50.1-per-cent interest in Dollarcity, a growing Latin American value retailer. Dollarcity offers a broad assortment of consumable products, general merchandise and seasonal items at select fixed price points up to $4 (U.S.) (or the equivalent in local currency) in 448 conveniently located stores in El Salvador, Guatemala, Colombia and Peru.

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