Reitmans Canada Limited — Board/Management Information 2021

Jul 23, 2021

FORM 51-102F3 MATERIAL CHANGE REPORT

Item 1 Name and Address of Company

Reitmans (Canada) Limited (“ Reitmans ”) 250 Sauvé West Montréal, Québec H3L 1Z2

Item 2 Date of Material Change

July 19, 2021

Item 3 News Release

A press release was disseminated by CNW Telbec on July 19, 2021 from Montréal, Québec.

Item 4 Summary of Material Change

Reitmans announced changes to its Board of Directors (the " Board ").

Item 5 Full Description of Material Change

5.1 Full Description of Material Change

On July 19, 2021, Reitmans announced the retirement of Mr. Robert S. Vineberg and Mr. Howard Stotland from its Board, as well as the appointment of Ms. Anita Sehgal, Ms. Julie Filion, and Ms. Gillian Reitman to the Board.

5.2 Disclosure for Restructuring Transactions

N/A

Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102

This report is not being filed on a confidential basis.

Item 7 Omitted Information

N/A

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Item 8 Executive Officer

Stephen F. Reitman President and Chief Executive Officer (514) 385-2700

Item 9 Date of Report

July 23, 2021