Sagard Capital Announces Delay in the Appointment of Nominee to the Board of Directors of Performance Sports Group Ltd.

GREENWICH, CT, Aug. 17, 2016 /CNW/ - Sagard Capital Partners, L.P., Sagard Capital Partners GP, Inc. and Sagard Capital Partners Management Corp. (collectively, "Sagard Capital") issue this press release pursuant to applicable requirements of Canadian securities legislation.  On August 15, 2016, Performance Sports Group Ltd. (the "Issuer") disclosed that it anticipates a delay in filing its Annual Report on Form 10-K for the fiscal year ended May 31, 2016, and is conducting an internal investigation.  As a result of this disclosure, Sagard Capital announces that the previously announced appointment of Paul Desmarais III to the board of directors of the Issuer is not expected to occur until such investigation is complete and the Issuer has filed its Annual Report on Form 10-K for such fiscal year with the United States Securities and Exchange Commission and the Canadian Securities Administrators, including annual audited financial statements for such fiscal year.  Sagard Capital does not currently have a nominee serving on the board of directors of the Issuer.

As required by applicable law and regulation, Sagard Capital further discloses that it beneficially owns and controls an aggregate of 7,721,599 common shares ("Shares") of the Issuer, representing approximately 16.9% of the issued and outstanding Shares. Subject to, and in accordance with, applicable securities laws and the terms of the Shareholder Nomination Agreement dated March 28, 2016 between the Issuer and Sagard Capital Partners, L.P., Sagard Capital may increase or decrease its investment in the Issuer depending on market conditions and other relevant factors. Subject to, and if, as and when permitted in accordance with, the Agreement, which, among other things, imposes various "standstill" restrictions, Sagard Capital may also engage in further communications with the Issuer, the board of directors of the Issuer, and/or one or more shareholders of the Issuer, to suggest that the Issuer nominate one or more other representatives of Sagard Capital to the board of directors of the Issuer. Sagard Capital may also in the future take such other actions with respect to its investment in the Issuer as it deems appropriate, in its own discretion, including, without limitation, making proposals to the Issuer concerning changes to the capitalization, ownership structure, including a sale of the Issuer as a whole or in parts, the structure of the Issuer's board of directors (including board composition) or operations of the Issuer.

Sagard Capital will continue to evaluate developments and circumstances related to the Issuer, including, without limitation, the Issuer's financial position and capital structure, the status of the Issuer's discussions with its lenders, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions.

Sagard Capital, a subsidiary of Power Corporation of Canada, is relying on Part 5 of National Instrument 62-103 in respect of aggregation relief relating to any securities that may be held by Great-West Lifeco Inc. and its subsidiaries, IGM Financial Inc. and its subsidiaries, and any investment fund managed by entities within the Power Corporation of Canada group of companies.

The Issuer's head office is located at 100 Domain Drive, Exeter, New Hampshire, U.S.A., 03833.

About Sagard Capital

Sagard Capital Partners, L.P. is the direct owner of the Shares reported herein as being beneficially owned and over which control is shared by the entities comprising Sagard Capital. Sagard Capital Partners, L.P. is principally engaged in the business of investing in securities.  Sagard Capital Partners GP, Inc. is the general partner of Sagard Capital Partners, L.P. Sagard Capital Partners Management Corp. is the investment manager of Sagard Capital Partners, L.P.  Each entity comprising Sagard Capital is a subsidiary of Power Corporation of Canada.

Sagard Capital's strategy is to acquire significant minority or control positions in publicly traded small and mid-sized companies. It offers a unique and highly differentiated value proposition to companies looking for supportive, long-term shareholders.  Based in Greenwich, Connecticut, Sagard Capital is an evergreen fund with an indefinite holding period for its investments. Sagard Capital  is purpose-built to be an independent, flexible, supportive partner to management teams focused on building sustainable, leading businesses and generating long-term shareholder value.

In connection with the above, Sagard Capital has filed an early warning report, which updates an earlier report of Sagard Capital dated April 28, 2016, on the System for Electronic Document Analysis and Retrieval (SEDAR). For further information or to obtain a copy of the early warning report filed by Sagard Capital in connection with the above, which is also available on www.sedar.com, please contact:

SOURCE Sagard Capital Partners, L.P.

Samuel Robinson, President, 325 Greenwich Avenue, Greenwich, CT, U.S.A. 06830, [phone]