Mr. Richard Maltsbarger reports

PET VALU INTRODUCES ITS FIRST ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Pet Valu Holdings Ltd. has released its first environmental, social and governance (ESG) report for its fiscal year ended Dec. 31, 2022. The report provides a comprehensive overview of key ESG factors that help enable Pet Valu to deliver on its strategic, operational and financial goals.

"Our mission, values and strategy are anchored in the belief that utilizing sustainable business practices across Pet Valu helps deliver profitable growth and create value over the long-term," said Richard Maltsbarger, President and Chief Executive Officer of Pet Valu. "As a result, responsible management of many ESG considerations have long been embedded in how we operate, from fostering strong relationships with our franchisees and Animal Care Experts ("ACEs") to employing good governance practices throughout our organization."

Key highlights of Pet Valu's 2022 ESG report include discussions of how the Company:

• Fosters strong franchisee relationships through robust screening, onboarding and engagement processes, as well as effective monitoring procedures and tools;
• Provides a welcoming and engaging ACE working environment through a focus on safety, inclusivity, and compelling opportunities;
• Manages energy & emissions to deliver efficiency while contributing to global efforts to limit the impact of climate change;
• Responsibly stewards its operations, guided by a majority independent, diverse and well-rounded Board of Directors;
• Sells safe and high-quality products through strong vendor safety standards, quality assurance and proactive recall procedures.

"We plan to build on the foundation set by our first ESG report in subsequent years," continued Mr. Maltsbarger. "As we monitor our ongoing performance across key ESG metrics, we will begin to assess establishing time-based targets, where appropriate, while further strengthening our approach and oversight of these key ESG matters as we grow."

A downloadable copy of Pet Valu's 2022 ESG report is available at https://investors.petvalu.com/ESG.

About Pet Valu

Pet Valu is Canada's leading retailer of pet food and pet-related supplies with over 700 corporate-owned or franchised locations across the country. For more than 40 years, Pet Valu has earned the trust and loyalty of pet parents by offering knowledgeable customer service, a premium product offering and engaging in-store services. Pet Valu's neighbourhood stores offer more than 7,000 competitively-priced products, including a broad assortment of premium, super premium, holistic and award-winning proprietary brands. To learn more, please visit: www.petvalu.ca.