Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Indigo Shareholders Approve Arrangement with Trilogy

TORONTO, May 14, 2024 /CNW/ - Indigo Books & Music Inc. (TSX:IDG.TO) ("Indigo" or the "Company"), Canada's leading book and lifestyle retailer, is pleased to announce that Institutional Shareholder Services ("ISS"), a leading independent proxy advisory firm that provides voting recommendations to shareholders and whose analyses and recommendations are relied upon by many major institutional investors, has released a report (the "ISS Report") recommending that the Company's shareholders ("Shareholders") vote in favour of the proposed plan of arrangement with Trilogy Investments L.P. ("TILP"), whereby TILP will acquire the approximately 39.4% of the issued and outstanding common shares of Indigo that TILP, Trilogy Retail Holdings Inc. (together with TILP, "Trilogy") and their respective affiliates and joint actors do not currently own for $2.50 per share in cash (the "Arrangement"), as announced on April 2, 2024.