Mr. J.P. Towner reports

DOLLARAMA ANNOUNCES PRIVATE OFFERING OF $500 MILLION SENIOR UNSECURED NOTES

Dollarama Inc. has priced an offering of $500-million aggregate principal amount of 5.533 per cent senior unsecured notes due Sept. 26, 2028.

Considering existing hedging contracts, Dollarama estimates the effective blended interest rate of its outstanding senior unsecured notes (including the notes) immediately following the closing of the offering and the repayment of its outstanding 3.55 per cent senior unsecured notes due Nov. 6, 2023, will remain substantially unchanged.

The notes are being offered through an agency syndicate consisting of CIBC World Markets Inc., RBC Dominion Securities Inc. and TD Securities Inc., as joint bookrunners and co-lead private placement agents, and including National Bank Financial Inc., Desjardins Securities Inc., Scotia Capital Inc., Mizuho Securities Canada Inc., J.P. Morgan Securities Canada Inc., and Casgrain & Company Ltd. The offering is expected to close on or about Sept. 26, 2023, subject to customary closing conditions.

The notes will be issued at par for aggregate gross proceeds of $500-million and will bear interest at a fixed rate of 5.533 per cent per annum, payable semi-annually, until maturity on the 26th day of March and September of each year, commencing on March 26, 2024.

The corporation intends to use the net proceeds of the offering to repay, together with cash on hand, the $500-million aggregate principal amount of the corporation's outstanding 3.55 per cent senior unsecured notes due Nov. 6, 2023, which will be repaid in full at maturity, and for general corporate purposes.

The notes will be direct unsecured obligations of Dollarama and will rank pari passu with all other unsecured and unsubordinated indebtedness of Dollarama. The notes have been assigned a provisional rating of BBB, with a stable trend, by DBRS Ltd. and are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation.

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. Its 1,525 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 458 conveniently located stores in El Salvador, Guatemala, Colombia and Peru.

We seek Safe Harbor.