Mr. Rob Hall reports

DAVID A. ECKERT TO RETIRE JULY 15, 2025; BOARD NAMES SHERILYN KING AS SUCCESSOR

David A. Eckert, chief executive officer of Yellow Pages Ltd., will retire on July 15, 2025, on the expiry of his existing employment agreement. Sherilyn King has been appointed president and to the company's board of directors effective today and will become president and chief executive officer upon Mr. Eckert's retirement.

Rob Hall, chair of the board of Yellow Pages, said: "David has been a superb CEO. He transformed the company, leading a management team that achieved strong profitability, repaid all of YP's debt and returned over $230-million to shareholders over the past 7.5 years -- while at the same time significantly improving the funding position of the company's defined benefit pension plan."

"Sherilyn King's successful leadership of our sales, marketing and customer service groups has led to great progress in 'bending the revenue curve' and our march toward revenue stability. In addition, now 'SK' will be able to participate more directly in the strategic and operational leadership of the company. We congratulate SK on her impressive career journey to date at YP, from sales administration clerk in 1996 to president and CEO in 2025, and look forward to her continued success in driving toward revenue stability," said Mr. Hall.

Mr. Eckert said: "It has been my honour to be a part of such a great team at YP. I know that I will be leaving the company in supremely capable hands."

Ms. King said: "Thanks to David for all his hard work in laying the foundation for our future success. We have tremendous talent throughout the company that will enable us to continue our path to 'bend the revenue curve' while delivering on our commitments to our customers, shareholders and employees."

The company also announced that Assunta Tortis has been appointed corporate vice-president of finance. Mr. Eckert stated that "since first joining the company in 2003 from a background of public accounting at Anderson and Deloitte, Assunta has contributed extensively across our finance groups. Since 2018, Assunta has done a terrific job as our corporate controller. She is uniquely qualified to lead our entire finance group, which I anticipate she will transition into later this year."

Finally, the company announced that Franco Sciannamblo has decided to leave YP alongside Mr. Eckert, after a period of transition of his duties in the coming months. Mr. Eckert stated that "Franco has been with our company for 11 years, the past 6.5 years as CFO. Nobody could have done a better job as our CFO than Franco has. We wish him the very best and look forward to reading about his continued successes in the coming years."

About Yellow Pages Ltd.

Yellow Pages 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 YP.ca, Canada411 and 411.ca. The company also holds the YP, Canada411 and 411 mobile applications and Yellow Pages print directories.