Mr. Dave Kreklewetz reports

FP NEWSPAPERS INC. ANNOUNCES RATIFICATION OF COLLECTIVE AGREEMENT

FP Newspapers Inc.'s FP Canadian Newspapers LP unionized employees located at the Winnipeg Free Press have ratified a new three-year collective agreement which provides wage increases, as well as benefits improvements for all employees, including part-time employees and outside carriers. The new agreement provides inside union employees with a general wage increase of 8.75 per cent over the next three-year period. The agreement was ratified by its union members on Dec. 10, 2023, with a 94.5-per-cent acceptance of the company's proposal.

"We are pleased to have reached a fair and reasonable outcome," said Dave Kreklewetz, chief financial officer, FP Newspapers. "Despite the continued challenges imposed daily on the newspaper industry, the company remained committed to bargaining in good faith and make every effort to present a reasonable and sustainable offer to meet the needs of both its valued employees and the business. The overwhelming support from the union reflects the fact the company met the needs of its employees, and we look forward to having this strong working relationship serve our growing audience."

About FP Newspapers Inc.

FP owns securities entitling it to 49 per cent of the distributable cash of FP Canadian Newspapers LP (FPLP). FPLP owns the Winnipeg Free Press, the Brandon Sun and their related businesses, as well as the Canstar Community News division, the publisher of six community newspapers in the Winnipeg region, and The Carillon in Steinbach with its related commercial printing operations. The businesses employ 364 full-time equivalent people in Winnipeg, Brandon and Steinbach, Man.

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