Mr. Pierre Karl Peladeau reports

3800 MHZ WIRELESS SPECTRUM AUCTION -- QUEBECOR AND VIDEOTRON INVEST NEARLY $300 MILLION TO MOVE FORWARD WITH CANADIAN EXPANSION

Following through on their commitment to offer Canadian consumers more choice by building out one of the country's most powerful and reliable wireless networks, Quebecor Inc. and Videotron have announced a $299-million investment to acquire 305 blocks of spectrum in the 3,800-megahertz band. This major addition to Quebecor's spectrum portfolio, made at the conclusion of Innovation, Science and Economic Development Canada's latest auction, brings its total investment in the 3,500 and 3,800 MHz bands, both essential for 5G technology, to over $1.1-billion.

"This latest investment is perfectly in line with our business plan, which is focused on continuing to offer Canadians better services at better prices," said Pierre Karl Peladeau, president and chief executive officer of Quebecor. "It is further proof that we have not only the will but also the ability to achieve our goals, for the benefit of consumers. Canadians have already seen a significant drop in the price of wireless services, thanks to the healthy competition created by Videotron's acquisition of Freedom Mobile."

Quebecor strengthens its presence outside Quebec

Approximately 61 per cent of the 305 blocks of wireless spectrum acquired by Quebecor are located outside Quebec, mainly in Southern Ontario, Alberta and British Columbia. The company plans to continue rolling out its 5G network there, and strengthening its presence through its Freedom Mobile subsidiary, acquired in April, 2023, and its Fizz wireless brand, recently introduced in Western Canada.

Quebecor also bought spectrum in Manitoba, where it now holds a total of 46 blocks in the 600, 3,500 and 3,800 MHz bands as it prepares to enter that market. In Quebec, the newly acquired spectrum will support the rollout of Videotron's 5G network and enable it to continue upgrading its wireless network in all regions, while maintaining service quality and the customer experience.

Investment in the future

The 3,500 and 3,800 MHz bands are key to 5G wireless technology. Through its massive investments in these frequencies and in its network, now totalling more than $4-billion since 2008, Quebecor continues to increase the capacity of its current facilities while further enhancing the user experience across Canada with increased download speeds and reduced latency.

About Quebecor Inc.

Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.

Quebecor is headquartered in Quebec and employs more than 10,000 people in Canada.

A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.

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