LOBLAW COMPANIES LIMITED ANNOUNCES INTENTION TO REDEEM SECOND PREFERRED SHARES, SERIES B

BRAMPTON, ON, Dec. 9, 2024 /CNW/ - (TSX:L.TO) (TSX:L-PR-B.TO) – Loblaw Companies Limited ("Loblaw" or the "Company") announced today its intention to redeem for cash all of its 9,000,000 outstanding Second Preferred Shares, Series B (the "Series B Shares") on January 8, 2025 (the "Redemption Date") at a redemption price equal to $25.00 per share, for an aggregate amount of $225 million, together with all accrued and unpaid dividends up to but excluding the Redemption Date in the amount of $0.02944 per Series B Share (collectively, the "Redemption Price"), less any tax required to be deducted and withheld by the Company.