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Canadian Tire Corporation Responds to Report by Spruce Point Capital Management

TORONTO , Dec. 5, 2019 /CNW/ - Canadian Tire Corporation (TSX:CTC, TSX:CTC.A) does not agree with the conclusions in the report issued by Spruce Point Capital Management earlier today regarding the Corporation's share value. The report contains numerous inaccuracies, which we believe are solely intended to benefit its author. It would be extremely unfortunate if investors took action based on the report.

ABOUT CANADIAN TIRE CORPORATION
Canadian Tire Corporation, Limited, (CTC-A.TO) (CTC.TO) or "CTC", is a family of businesses that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark's, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; SportChek, Hockey Experts, Sports Experts, National Sports, Intersport and Atmosphere, which offer the best active wear brands; and Party City Canada, a leading, one-stop shopping destination for party supplies and seasonal celebrations. The more than 1,700 retail and gasoline outlets are supported and strengthened by CTC's Financial Services division and the tens of thousands of people employed across Canada and around the world by the Company and its local dealers, franchisees and petroleum retailers. In addition, CTC owns and operates Helly Hansen, a leading global brand in sportswear and workwear based in Oslo, Norway . For more information, visit Corp.CanadianTire.ca.

FOR MORE INFORMATION

Media: Jane Shaw , 416-480-8581, jane.shaw@cantire.com 
Investors: Lisa Greatrix, 416-480-8725, lisa.greatrix@cantire.com

SOURCE CANADIAN TIRE CORPORATION, LIMITED - INVESTOR RELATIONS


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