Company Announcements

This year, Loblaw will build and open 80 new stores, and create thousands of jobs in communities across Canada

BRAMPTON, ON , Feb. 19, 2025 /CNW/ - Loblaw Companies Limited (TSX: L) "Loblaw" or the "Company"), Canada's food and pharmacy leader, announced today it will invest $2.2 billion into the Canadian economy in 2025. This investment will help the Company improve access to more affordable food and healthcare services for Canadians, while creating an anticipated 8,000 jobs in communities across the country.

The investment reinforces Loblaw's position as a major contributor to the growth of the Canadian economy. The Company anticipates similar levels of investment over the next five years – to invest more than $10 billion by 2030 – adding to the more than $8 billion the Company has invested since 2020 to improve and expand its network of stores and modernize its supply chain.

The Company's 2025 planned investments include:

• 80 new stores under the No Frills, Maxi, Shoppers Drug Mart, Pharmaprix and T&T banners, including approximately 50 hard discount stores;
• the renovation of more than 300 grocery and pharmacy locations, including adding approximately 100 new Shoppers Drug Mart pharmacy care clinics; and
• the continued development of the Company's modernized supply chain, including the initial opening of the 1.2 million square foot facility in East Gwillimbury, Ontario.

"At a time when Canadians need value the most, we're continuing to invest meaningfully in the Canadian economy and in delivering value to our customers," said Per Bank, President and CEO, Loblaw Companies Limited. "From opening one of the largest fully automated distribution centres in North America, to introducing dozens of small format hard discount stores to communities that need them most, this investment will have a positive impact across the country."

"As a proudly Canadian owned and operated business, we'll also work to showcase Canadian-made value and quality across our entire network," added Bank. "Whether it's increasing orders for products made in Canada or further broadening our Small Supplier program, we're committed to home-grown success."

Forward Looking Statements

This News Release contains forward-looking statements about the Company's near and medium-term capital expenditure expectations, and their impact. Forward-looking statements reflect the Company's estimates, beliefs and assumptions, which are based on management's perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. The Company's estimates, beliefs and assumptions are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and, as such, are subject to change. The Company can give no assurance that such estimates, beliefs and assumptions will prove to be correct. Numerous risks and uncertainties could cause the Company's actual results, and the size, timing and impact of the capital expenditures described in this News Release, to differ materially from those expressed, implied or projected in the forward-looking statements, including those described in the Company's continuous disclosure record available on SEDAR+ at www.sedarplus.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's expectations only as of the date of this News Release. Except as required by law, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Loblaw Companies Limited

Loblaw Companies Limited is Canada's food and pharmacy leader, as well as its largest retailer and private sector employer with more than 220,000 colleagues across the country. With over 1 billion transactions each year in its unmatched network of 2,500 stores and national e-commerce options, Loblaw brings food, pharmacy, beauty, apparel and financial services to customers through many of Canada's favourite and most-trusted brands: President's Choice, No Name, Loblaws, Shoppers Drug Mart, No Frills, Real Canadian Superstore, T&T, Joe Fresh, PC Express and PC Financial. The Company's loyalty program, PC Optimum, has more than 16 million active members and is one of Canada's largest and best-loved reward programs.

Loblaw's purpose is to help Canadians live life well. It makes good food affordable, health, beauty and wellness accessible, saving for the future possible, and essential style achievable.

SOURCE Loblaw Companies Limited - Public Relations