Reitmans (Canada) Limited Announces the Granting of Options to Management

MONTREAL, June 26, 2024 /CNW/ - Reitmans (Canada) Limited ("RCL" or the "Company") (TSXV: RET) (TSXV: RET.A) today announces that it has granted an aggregate of 1,109,917 options to purchase Class A non-voting shares of the Company (the "Options") to members of management pursuant to its second amended and restated share option plan dated April 19, 2021, as amended.

The Options have an exercise price of $2.42 and are subject to time-based vesting terms. The grant of the Options is made pursuant to the Company's Long-Term Incentive Plan which is designed to incentivize members of management in the achievement of long-term financial targets.

About Reitmans (Canada) Limited

RCL is one of Canada's leading specialty apparel retailers for women and men, with retail outlets throughout the country. The Company operates 391 stores under three distinct banners consisting of 226 Reitmans, 85 PENN. Penningtons, and 80 RW&CO.

For more information, visit www.reitmanscanadalimited.com.

For further information, please contact:

Alexandra Cohen VP, Corporate Communications Reitmans (Canada) Limited Telephone: [phone] ext 23737 Email: [e-mail]

Richard Wait Executive Vice-President and Chief Financial Officer Reitmans (Canada) Limited Telephone: [phone] ext 23050 Email: [e-mail]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Reitmans (Canada) Ltd

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