December 3, 2021

Supreme Court of Canada rules in favour of Loblaw on Glenhuron Bank tax matter

BRAMPTON, ON, December 3, 2021 - Today, the Supreme Court of Canada issued its decision on the appeal of the tax matter relating to Glenhuron Bank Limited, a wholly-owned subsidiary of Loblaw Companies Limited (TSX:L) that was wound up in 2013.  The Court affirmed the decision of the Federal Court of Appeal in favour of Loblaw. The Company is providing the following statement in response to the decision.

“Canadians expect us to pay our taxes fully and fairly and we do. We are pleased that the Supreme Court of Canada has ruled in our favour and that this matter is now behind us.”

About Loblaw Companies Limited

Loblaw is Canada's food and pharmacy leader, and the nation's largest retailer. With more than 2,400 corporate, franchised and Associate-owned locations, Loblaw, its franchisees and Associate-owners employ more than 190,000 full- and part-time employees, making it one of Canada's largest private sector employers.

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