Loblaw Companies Limited ("Loblaw" or the "Company") announced today that it has completed its previously announced issuance, on a private placement basis to qualified accredited investors in certain Provinces of Canada, of $400 million aggregate principal amount of senior unsecured notes of the Company (the "Offering") bearing interest at a rate of 3.564% per annum and maturing on December 12, 2029 (the "Notes"). The Company intends to use the net proceeds of the Offering to redeem all of its issued and outstanding Second Preferred Shares, Series B (the "Preferred Share Redemption") and for general corporate purposes. For details regarding the Preferred Share Redemption, please see the Company's press release dated December 9, 2024. Morningstar DBRS has provided the Notes with a credit rating of "BBB (high)" with a "Stable" trend and Standard and Poor's Rating Services has provided the Notes with a credit rating of "BBB+".