GROUPE DYNAMITE FILES PRELIMINARY PROSPECTUS FOR INITIAL PUBLIC OFFERING OF SUBORDINATE VOTING SHARES

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWS WIRE SERVICES/

MONTRÉAL, Nov. 7, 2024 /CNW/ - Groupe Dynamite Inc. ("Groupe Dynamite" or the "Company") announced today that it has filed a preliminary base PREP prospectus with the securities regulatory authorities in each of the provinces and territories of Canada for a proposed initial public offering of subordinate voting shares by way of a secondary offering. The number of subordinate voting shares to be offered and the offering price per share have not yet been determined.

The offering is being made through a syndicate of underwriters led by Goldman Sachs Canada Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and TD Securities Inc. as lead underwriters and joint bookrunners.

The preliminary base PREP prospectus contains important information relating to Groupe Dynamite, the subordinate voting shares and the offering and is still subject to completion or amendment. A copy of the preliminary base PREP prospectus may be obtained from Goldman Sachs Canada Inc., Attention: Prospectus Department, 77 King Street West, Suite 3400, Toronto, Ontario M5K 1B7, telephone: [phone], or by emailing [email protected]; BMO Nesbitt Burns Inc., by mail at Brampton Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, ON, L6S 6H2, by telephone at 1-905-791-3151 Ext 4312, or by emailing [email protected]; RBC Dominion Securities Inc., Attention: Distribution Centre, 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2, or by e-mailing [email protected]; or TD Securities Inc., Attention: Symcor, NPM, 1625 Tech Avenue, Mississauga, Ontario L4W 5P5, by telephone at 1-289-360-2009, or by e-mailing [email protected]. There will not be any sale or any acceptance of an offer to buy the subordinate voting shares until a receipt for the (final) base PREP prospectus has been issued.

No securities regulatory authority has either approved or disapproved the contents of this news release. The subordinate voting shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws. Accordingly, the subordinate voting shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities of Groupe Dynamite in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Groupe Dynamite Inc.

Groupe Dynamite Inc. (GDI) is a fashion house operating retail stores and digital experiences under two complementary and spirited banners: GARAGE and DYNAMITE. We offer our customers an extensive and diverse range of women's fashion apparel that caters to a wide range of style preferences and lifestyle needs, primarily for Generation Z and Millennial women. We have grown from a single store in 1975 located in Place Versailles, to approximately 300 stores across Canada and the U.S., with a majority of our new store locations since 2022 in the higher-growth U.S. market, which we proudly operate from our Québec-based headquarters. We plan to continue our growth in the U.S. and other jurisdictions, such as the U.K. We are a value-led, inclusive organization, guided by our mission: "Empowering YOU to be YOU, one outfit at a time". Each and every one of our 6,000 employees – from our home in Montréal to across North America – will have ownership exposure subsequent to the offering, aligning their interests with those of our shareholders.

SOURCE GROUPE DYNAMITE INC

Contacts: Questions from investors - Investor Relations: Alex Limosani, Manager, Investor Relations and Corporate Finance - [email protected]; Questions from media - Media Relations: Jacee Scoular, Vice-President, Marketing / Anne Dongois - [email protected]