Pet Valu Releases 2023 Environmental, Social and Governance Report

Sees continued strength across key success metrics, while enhancing practices

MARKHAM, ON, Nov. 13, 2024 /CNW/ - Pet Valu Holdings Ltd. ("Pet Valu" or the "Company") (TSX: PET), the leading Canadian specialty retailer of pet food and pet-related supplies, today released its Environmental, Social, Governance ("ESG") report for its fiscal year ended December 30, 2023. The second annual report provides an update of how the Company manages and measures key ESG factors that play a critical role in delivering its strategic, operational and financial aspirations.

"Building on a strong foundation of long-standing responsible and sustainable business practices, we took incremental steps in 2023 to enhance our oversight and management of key ESG factors," said Richard Maltsbarger, Chief Executive Officer of Pet Valu. "The strength of our key success metrics is a clear indicator that our strategies continue to deliver better outcomes and value to stakeholders while pursing our mission to be Canada's preferred pet retailer."

Key highlights of Pet Valu's 2023 ESG report include:

• Strengthened engagement with and support for our franchisees – supported establishment of a self-elected franchisee council for Les Franchises Chico Inc. ("Chico"), while introducing Safe & Ready assessments across that banner;
• Enhanced Animal Care Expert ("ACE") working environment – invested over $1 million in new and upgraded safety technology, rolled out a curated program designed for high potential talent, and provided initial visibility into ACE ethnic diversity;
• Improved emissions intensity – consolidated parts of our distribution network into larger, modern facilities while advancing low emissions initiatives;
• Bolstered governance of supply chain – issued first report ("Modern Slavery Report") summarizing policies, activities and due diligence processes used to manage the potential risk of forced or child labour in our supply chain;
• Fortified product safety & quality practices – required acceptable third-party social audits from all new proprietary brand manufacturers in Asia and South America.

"I am proud of the actions of our ACEs and franchisees, who embody Our Four Paws service model to deliver holistic value to devoted pet lovers and the communities we serve," continued Mr. Maltsbarger. "Together with industry best practices and stakeholder feedback, we plan to make any further enhancements to our strategies and disclosures, while preparing for forthcoming disclosure obligations."

A downloadable copy of Pet Valu's 2023 ESG report is available at https://investors.petvalu.com/ESG.

About Pet Valu

Pet Valu is Canada's leading retailer of pet food and pet-related supplies with over 800 corporate-owned or franchised locations across the country. For more than 45 years, Pet Valu has earned the trust and loyalty of pet parents by offering knowledgeable customer service, a premium product offering and engaging in-store services. Through its neighbourhood stores and digital platform, Pet Valu offers more than 10,000 competitively-priced products, including a broad assortment of premium, super premium, holistic and award-winning proprietary brands. The Company is headquartered in Markham, Ontario and its shares trade on the Toronto Stock Exchange (TSX: PET). To learn more, please visit: www.petvalu.ca.

SOURCE Pet Valu Canada Inc.

For more information, please contact: James Allison, Senior Director, Investor Relations, [email protected], 289-806-4559