LE CHATEAU INC. — AGM Information 2020

Sep 25, 2020

LE CHÂTEAU INC.

NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

NOTICE is hereby given that the annual and special meeting of shareholders (the " Meeting ") of Le Château Inc. (the " Corporation ") will be held at the head office of Le Château, 105 Marcel-Laurin Boulevard, Saint-Laurent, Québec H4N 2M3, on October 22, 2020 at 10:00 a.m. (Montreal time) for the following purposes:

• (a) placement before shareholders of the consolidated financial statements of the Corporation for the year ended January 25, 2020, including the auditors' report thereon;

• (b) to elect directors who will serve until the end of the next annual meeting of shareholders or until their successors are elected or appointed;

• (c) to appoint Ernst & Young LLP as auditors of the Corporation and to authorize the directors to fix their remuneration;

• (d) to approve the resolution confirming, ratifying and approving the Corporation's amended and restated incentive stock option plan and all unallocated options and entitlements thereunder, the whole as more fully set forth in Schedule C of the management information circular accompanying this notice; and

• (e) to transact such other business as may properly be brought before the Meeting or at any adjournment thereof, including without limitation, any amendments or variations of any of the foregoing matters.

The specific details of the foregoing matters to be put before the Meeting are set forth in the management information circular accompanying this notice.

In light of ongoing public health concerns related to the COVID-19 pandemic and in order to comply with government decrees, the Corporation is requesting that shareholders not attend the Meeting in person. The Meeting will be webcast through the Corporation's Investor Relations website at https://www.lechateau.com/style/company/links/investor.jsp and the Corporation asks all shareholders to participate in that manner. As shareholders viewing the webcast will not be able to vote during the Meeting, we encourage shareholders to vote their shares prior to the Meeting.

Regardless of whether or not shareholders are able to attend the Meeting (or any adjournment thereof), shareholders are strongly encouraged to complete, date, sign and return the accompanying form of proxy or voting instruction form, as applicable, in accordance with the instructions set out in such form and in the accompanying management information circular. Such form of proxy submitted must be received at the Corporation's registered office at 105 Marcel-Laurin Boulevard, Saint-Laurent, Québec H4N 2M3, c/o Computershare Investor Services Inc., Attention: Proxy Department, 100 University Avenue, 8[th] Floor, Toronto, Ontario, M5J 2Y1, by 10:00 a.m. (Montreal Time) on October 20, 2020 or not less than 48 hours (excluding Saturdays, Sundays and holidays) before any adjournments or postponements thereof. Non-registered shareholders who do not hold their shares of the Corporation in their own name should carefully follow the voting and other instructions provided by their intermediary. All shareholders should carefully follow the voting and other instructions set forth in the management information circular.

Shareholders as at the close of business on September 18, 2020 are entitled to receive notice of, and vote at, the Meeting or any adjournment or postponements thereof.

DATED at Montreal, Québec, on September 17, 2020.

BY ORDER OF THE BOARD OF DIRECTORS

(signed) Emilia Di Raddo EMILIA DI RADDO, CPA, CA President