Ms. Alexandra Cohen reports

REITMANS (CANADA) LIMITED ANNOUNCES APPROVAL OF NORMAL COURSE ISSUER BID

Reitmans (Canada) Ltd. has received approval from the TSX Venture Exchange to proceed with its normal course issuer bid (NCIB) previously announced on June 17, 2025.

Under the NCIB, the company may acquire up to an aggregate of 3,700,472 Class A non-voting shares of the company over the 12-month period commencing on Aug. 5, 2025, and ending on Aug. 4, 2026, representing approximately 10 per cent of the public float of the shares. Additionally, under the NCIB, the company may not acquire more than 2 per cent of the public float of the shares, representing 740,094 shares, in any 30-day period.

Purchases under the NCIB will be carried out in the open market through the facilities of the TSX-V and alternative trading systems or by such other means as may be permitted under applicable securities laws during the term of the NCIB at the prevailing market price of the shares at the time of purchase. All shares purchased by the company under the NCIB will be cancelled. The actual number of shares which may be purchased pursuant to the NCIB and the timing of any purchases will be determined by management and the board of directors of the company. The NCIB will be conducted through BMO Nesbitt Burns Inc. and made in accordance with the policies of the TSX-V.

The funding for any purchases pursuant to the NCIB will be from the available funds of the company. To the company's knowledge, none of the directors, senior officers or other insiders of the company, or any associates of such persons, or any associate of affiliates of the company, has any present intention to sell any shares during the course of the NCIB. During the 12-month period ended Aug. 5, 2025, an aggregate of 390,600 shares were purchased by the company under the policies of the TSX-V.

The board of directors of the company has concluded that purchases of shares under the NCIB may be an appropriate and desirable use of RCL's available funds and, therefore, would be in the best interests of RCL. As a result of such purchases under the NCIB, the number of issued and outstanding shares will be decreased and, consequently, the proportionate share interest of all remaining shareholders will be increased on a pro rata basis.

About Reitmans (Canada) Ltd.

RCL is one of Canada's leading specialty apparel retailers for women and men, with retail outlets throughout the country. The company operates 386 stores under three distinct banners consisting of 219 Reitmans, 84 PENN. Penningtons and 83 RW&CO.

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