Ms. Jennifer Bewley reports

HUDSON'S BAY COMPANY MAILS INFORMATIONAL BROCHURE AND REMINDS SHAREHOLDERS TO VOTE FOR THE TAKE PRIVATE TRANSACTION

Hudson's Bay Company has mailed an informational brochure to remind all shareholders to vote for the transaction in which Hudson's Bay will become a private company, owned by certain continuing shareholders, and the company's other shareholders (the minority shareholders) will receive $10.30 in cash per share. The informational brochure is available on the dedicated transaction website, which provides additional information and materials related to the take-private transaction, including voting instructions. Shareholders can vote directly by clicking the vote now button.

The take-private transaction was unanimously recommended by the independent special committee of the board of directors and determined by the board (excluding conflicted directors) to be in the best interest of Hudson's Bay and fair to minority shareholders. The $10.30-per-share offer is the only offer available to Hudson's Bay shareholders, and there are no alternative offers.

Each shareholder's vote is important regardless of the number of shares owned. The special committee and the board (excluding conflicted directors) recommend that minority shareholders vote in favour of the transaction in advance of the proxy voting deadline of 10 a.m. ET on Dec. 13, 2019, or at the special meeting of shareholders on Dec. 17, 2019, at 10 a.m. ET. Shareholders who have questions or need assistance voting their proxy should contact Kingsdale Advisors, Hudson's Bay's proxy solicitation agent, by telephone toll-free at 1-866-581-0512, collect at 1-416-867-2272 or by e-mail at contactus@kingsdaleadvisors.com.

About Hudson's Bay Company

Hudson's Bay is a diversified retailer focused on driving the performance of high-quality stores and its omnichannel platforms and unlocking the value of real estate holdings. Founded in 1670, Hudson's Bay is the oldest company in North America. Hudson's Bay's portfolio today includes formats ranging from luxury to premium department stores to off-price fashion shopping destinations, with nearly 250 stores and approximately 30,000 employees around the world. Hudson's Bay also has significant investments in real estate joint ventures.

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