Dollarama Inc. announced that it has amended its existing syndicated credit facilities to convert them to a sustainability-linked loan ("SLL") with available credit of CAD 1,050 million. The SLL is tied to two specific sustainability performance targets ("SPTs") related to the Corporation's overall Environmental, Social and Governance ("ESG") strategy and which are linked to incentive pricing terms, namely: 1) Climate Change and Energy Management: Reduction of Scope 1 and Scope 2 greenhouse gas emissions intensity; and 2) Diversity, Equity and Inclusion: Increase of female gender representation in management positions. Concurrently, Dollarama extended the term of each syndicated credit facility and upsized the credit available under all facilities to CAD 1,050 million, from CAD 800 million.

The term of each facility was extended by one year, with Facility A now maturing on July 5, 2027, Facility B and Facility C maturing on July 5, 2025, and Facility D maturing on July 5, 2023. Under certain circumstances and subject to receipt of additional commitments from existing lenders or other eligible institutions, the Corporation may request increases to committed facilities up to an aggregate amount, together with all then-existing commitments, of CAD 1,500 million. RBC and CIBC acted as Joint Bookrunners on the extension and upsizing of the credit facilities.

The Corporation also announced the upsize of its commercial paper program in the United States (the "US Commercial Paper Program") from USD 500 million to USD 700 million. Under the terms of the US Commercial Paper Program initially launched in February 2020, the Corporation may issue, from time to time, on a private placement basis, unsecured commercial paper notes with maturities not in excess of 397 days from the date of issue (the "Notes"). The aggregate principal amount of Notes outstanding at any one time under the US Commercial Paper Program, as amended, will not exceed USD 700 million. The Corporation intends to continue to use the proceeds from the issuance of Notes for general corporate purposes.

The Notes are direct unsecured obligations of the Corporation and rank equally with all of its other unsecured and unsubordinated indebtedness. The Notes are unconditionally guaranteed by Dollarama L.P. and Dollarama GP Inc., each a wholly-owned subsidiary of the Corporation. The Corporation's upsized credit facilities will continue to serve as a liquidity backstop for the repayment of the Notes issued under the US Commercial Paper Program.