Mr. Eric Provost reports

LAURENTIAN BANK ANNOUNCES DEPARTURE OF KELSEY GUNDERSON

Laurentian Bank of Canada's Kelsey Gunderson, executive vice-president and head, capital markets, has made the decision to leave the bank to focus on personal interests prior to establishing the next path in his professional journey.

In the interim, Brian Doyle, currently chief financial officer of capital markets, will assume the role of acting head, capital markets, and acting president and chief executive officer of Laurentian Bank Securities Inc., and will be responsible for its day-to-day operations. Mr. Doyle will continue to report into Yvan Deschamps, executive vice-president and chief financial officer.

"I would like to sincerely thank Kelsey for his many contributions to the bank over the last five years, including navigating our capital markets business through multiple periods of market volatility," said Eric Provost, president and chief executive officer. "Kelsey was instrumental in executing on the bank's capital markets strategy, including improving the bank's syndicate position with many of our major clients, delivering solid risk-adjusted revenues in a highly volatile macroeconomic environment and accelerating the bank's efforts in the ESG space by increasing Laurentian Bank Securities' activity in the green bond market. I wish Kelsey all the best in his next chapter."

Mr. Gunderson joined Laurentian Bank in his current role in 2019. His last day with the bank will be April 12, 2024.

The bank will unveil its revamped strategic plan at an investor event later this spring and will share more information about capital markets and all its businesses at that time.

About Laurentian Bank of Canada

At Laurentian Bank, the bank believes it can change banking for the better -- by seeing beyond numbers.

Founded in Montreal in 1846, Laurentian Bank helps families, businesses and communities thrive. Today, the bank has approximately 3,000 employees working together as one team to provide a broad range of financial services and advice-based solutions for customers across Canada and the United States. The bank protects, manages and grows $48.1-billion in balance sheet assets and $26.5-billion in assets under administration.

The bank drives results by placing its customers first, making the better choice, acting courageously and believing everyone belongs.