Reitmans (Canada) Limited Welcomes Martin Thibodeau to Its Board of Directors

MONTREAL, May 13, 2025 /CNW/ - Reitmans (Canada) Limited ("RCL" or the "Company") (TSXV: RET) (TSXV: RET-A), one of Canada's leading specialty apparel retailers, announced today that longtime technology executive, Martin Thibodeau, will join its Board of Directors effective today.

Mr. Thibodeau has over three decades of senior leadership experience in Information Technology within the Retail industry. He has previously served as Chief Technology and Information Officer of Groupe Dynamite and Indigo Books & Music as well as in senior IT leadership roles at Laura Canada and Limited Brands Canada. In addition to his Board appointment at RCL, Mr. Thibodeau is currently SVP and Chief Information Officer at Rona and Board Member at Centraide.

On the appointment of Martin Thibodeau, Mr. Stephen Reitman, Executive Chairman of the Board stated: "We are pleased to welcome Martin to RCL. As a Board, we identified the need to bring on a new Board member with extensive Technology expertise, and with Martin's deep experience in IT and Fashion Retail, he will support us in achieving our strategic business objectives. We wish him success in his new role."

Andrea Limbardi, President and CEO of RCL, added: "We are confident that Martin's perspective and strong leadership track record will be instrumental as we continue to roll out our multi-year strategy designed for the future."

"I am delighted to join RCL at such a pivotal moment in its journey and look forward to helping the organization fuel growth through continued modernization efforts. Furthermore, I am honoured to be part of a proudly Canadian retailer and work alongside Stephen, Andrea, the Board, and executive leadership team", said Mr. Thibodeau.

About Reitmans (Canada) Limited

Reitmans (Canada) Limited ("RCL") is one of Canada's leading specialty apparel retailers for women and men, with retail outlets throughout the country. The Company operates 390 stores under three distinct banners consisting of 222 Reitmans, 86 PENN. Penningtons, and 82 RW&CO.

For more information, visit www.reitmanscanadalimited.com.

For further information, please contact:

Forward-Looking Statements

Statements made in this news release, other than statements of fact that are independently verifiable at the date hereof, may be forward-looking in nature. The reader should not place undue reliance on any forward-looking statements included herein. The Company cannot guarantee that any forward-looking statement will materialize, or if any of them do, what benefits the Company will derive from them. Numerous risks and uncertainties could cause the Company's actual results to differ materially from those expressed, implied or projected in the forward-looking statements. Factors that could cause results to vary include those identified in the Company's filings with Canadian securities regulatory authorities. All forward-looking statements presented herein should be considered in conjunction with such filings. The Company does not undertake to update any forward-looking statements; such statements speak only as of the date made.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Reitmans (Canada) Ltd