Mr. David Eckert reports

YELLOW PAGES LIMITED REPORTS ON VOTING RESULTS AT ITS ANNUAL GENERAL MEETING OF SHAREHOLDERS AND ANNOUNCES GOVERNANCE CHANGES

All resolutions presented at Yellow Pages Ltd.'s annual general meeting of shareholders, held virtually today, were duly passed.

The corporation also announced the following changes to its board of directors. During its meeting immediately following the AGM, the board named Susan Kudzman chair emerita and appointed her chair of the audit committee of the corporation. It also appointed Rob Hall, who previously served as chair of the audit committee of the corporation, as chair of the board, with immediate effect.

David A. Eckert, president and chief executive officer of the corporation, said: "Rob Hall is a highly respected and appreciated, long-time member of the board and chair of its audit committee. Rob brings a wealth of highly relevant expertise and strategic leadership to his new position. We are delighted to see Rob broaden his role in this critical way, and a very special thank you to Susan Kudzman, who has acted as chair of the board since May, 2018. As chair of the board, she has worked tirelessly to advance the interests of the corporation and its shareholders. She leaves her role as chair of the board with the corporation in a much stronger position than it was when she assumed the role. The board and management of the corporation are very appreciative of Ms. Kudzman's guidance, insights and leadership as chair of the board over the last six years. In recognition of her contributions, the board is delighted to bestow upon her the honorary title chair emerita, and we look forward to her ongoing contributions as a member of the board and chair of the audit committee."

About Yellow Pages Ltd.

Yellow Pages (Toronto Stock Exchange: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada's leading local on-line properties, including the YP, Canada411 and 411 websites. The company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories.