Mr. Craig Armitage reports

D2L INC. ANNOUNCES EXEMPTIVE RELIEF FROM THE ONTARIO SECURITIES COMMISSION IN CONNECTION WITH SUBSTANTIAL ISSUER BID

The Ontario Securities Commission, as principal regulator, has granted the exemptive relief described in D2L Inc.'s June 12, 2026, issuer bid circular in connection with its previously announced substantial issuer bid (SIB) to purchase for cancellation up to $20-million of its subordinate voting (SV) shares. The SIB remains open for acceptance until 5 p.m. Toronto time on July 17, 2026, unless extended, varied or withdrawn in accordance with applicable securities laws.

Shareholders should refer to the issuer bid circular and related offer documents available under D2L's profile on SEDAR+ for complete details regarding the offer. Any questions or requests for information regarding the SIB may be directed to Computershare at 1-800-564-6253 (toll-free in North America), 416-263-9200 or corporateactions@computershare.com, or to Canaccord Genuity at ecm@cgf.com.

About D2L Inc.

D2L is transforming the way the world learns, helping learners achieve more than they dreamed possible. Working closely with customers all over the world, D2L is on a mission to make learning more inspiring, engaging and human.

We seek Safe Harbor.