Canadian Tire Corporation Temporarily Halts Helly Hansen Operations in Russia

TORONTO, March 4, 2022 /CNW/ – Today, Canadian Tire Corporation (CCT) (TSX: CTC.A) (TSX: CTC) announced that it will temporarily suspend its Helly Hansen operations in Russia, which include its retail stores, e-commerce site and product deliveries. The conflict between Russia and Ukraine is tragic and deeply concerning and the CTC’s priority will continue to be protecting the safety and well-being of its employees. During this temporary pause in operations, store employees will continue to be paid and supported and the Company will continue to meet its business obligations.

Helly Hansen operates 41 outlets and employs over 300 people in Russia. The situation is extremely critical and changing rapidly. The CTC is committed to navigating this reality with the best interests of its employees as the top priority.

CTC is committed to helping people affected by conflict by Ukraine and made a $200,000 donation to the Red Cross appeal for the humanitarian crisis in Ukraine. The Company also undertakes to $500,000 in support of the thousands of Ukrainian refugees who will arrive in Canada. Additionally, CTC outlets across the country will collect donations for the Red Cross Humanitarian Appeal in Ukraine.

About Canadian Tire Corporation

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or “CTC”, is a group of companies that includes a retail segment, a financial services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada in its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key components of the Canadian Tire network. The retail segment also includes Mark’s, a leading source of casual and industrial apparel; Pro Hockey Life, a hockey specialty store for elite players; and SportChek, Hockey Experts, Sports Experts, Intersport and Atmosphere, which offer the best brands in sportswear. The more than 1,740 retail and gas outlets are supported and strengthened by CTC’s financial services division and the tens of thousands of people employed across Canada and worldwide by CTC and its local petroleum product dealers, franchisees and retailers. In addition, CTC owns and operates Helly Hansen, a global activewear and workwear brand based in Oslo, Norway. For more information, visit Corp.CanadianTire.ca.

SOURCE CANADIAN TIRE CORPORATION LIMITED

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Luisa D. Fuller