Yellow Pages Limited Announces Two Additional Nominees for Election as Directors at its 2017 Annual Meeting of Shareholders

MONTREAL, April 10, 2017 /CNW Telbec/ - Yellow Pages Limited (TSX: Y) ("YP" or the "Company"), announced today that two additional nominees have been added to the slate of management's director nominees standing for election at its annual general meeting of shareholders scheduled to be held at 11:00 on May 10, 2017 in Suite 6.300 of the offices of YP located at Le Nordelec, 1751 Richardson Street, Montreal, Québec (the "Meeting").

Following discussions with certain of its significant shareholders and other stakeholders, the board of directors of the Company (the "Board") has decided to increase the size of the Board from 10 directors to 12 directors, and to support the election of Messrs. David A. Eckert and Stephen K. Smith as directors of the Company.

David A. Eckert – Over the past 30 years, Mr. Eckert has served as Chief Executive Officer of international companies in a wide range of industries (including, more recently, the Hibu Group, a business providing print advertising, websites and other internet services to small and medium enterprise customers), was Vice President and Partner at Bain & Company, and has been a member or chair of numerous public and private boards of directors, including the Hibu Group, X-Rite, Inc. (NASDAQ: XRIT), Clean Harbors, Inc. (NYSE: CLH) and Italiaonline S.p.A.. He is an economics and engineering graduate of Northwestern University and earned an MBA from the Harvard Business School, where he was a Baker Scholar and a Loeb Rhoades Fellow.

Stephen K. Smith – Mr. Smith has 20 years of experience serving as a non-executive director and advisor to companies in digital marketing, enterprise systems, cyber security, multichannel retail and online payments sectors. More recently, he served on the executive management team and as advisor to the Chief Executive Officer of the Hibu Group on digital strategy and IT transformation. Since 1999, Mr. Smith has been a General Partner of Masthead Venture Partners, a venture capital firm focused on early stage investments in information technology. Prior to that, Mr. Smith was Managing Director and Head of the Technology Research Group at PaineWebber (before its merger with UBS Financial Services Group). Mr. Smith is a current board member of Scanbuy, Sea Bags Holdings Inc., and the Maine Technology Institute and formerly served on boards at Packet Design (acquired by Lone Rock Technology Group), Bitpipe (acquired by TechTarget), Ecount (acquired by Citigroup) and Tizor Systems (acquired by Netezza). Mr. Smith earned an MBA from Harvard and a Computer Science Degree from Brighton University.

"The Board strongly believes that the nomination of Messrs. Eckert and Smith, with their proven track record and expertise in businesses involved in the same industries as YP, is in the best interests of the Company and its stakeholders" said Robert F. MacLellan, Director and Chairman of the Board.

Supplement to the Management Information Circular

Messrs. Eckert and Mr. Smith were not included in the Circular or in the form of proxy or in the voting instruction form sent by the Company in connection with the Meeting given that they were identified as nominees subsequent to the sending of these materials. The Company will prepare and make available to shareholders a supplement to the Circular (the "Supplement"), which will include the information required under applicable securities laws with respect to the two additional nominees. Since the Company used notice-and-access to deliver the Circular to shareholders, Shareholders will have access to the Supplement electronically and shareholders who elected to receive a printed copy of the Circular will receive a printed copy of the Supplement before the Meeting. Furthermore, shareholders will be mailed new forms of proxy and voting instruction forms in order to vote their shares in respect of the election of the 12 nominees. The Supplement and form of proxy will be available on SEDAR at www.sedar.com, on the CST Trust Company (CST) website at www.meetingdocuments.com/cst/yp and YP's website at www.corporate.yp.ca.

Mr. Julien Billot, Director and President and Chief Executive Officer, or failing him, Mr. Robert F. MacLellan, Director and Chairman of the Board, will remain the persons designated in the new forms of proxy and voting instruction forms to be made available to the shareholders, and they will use their discretionary authority to cast the votes represented by proxy appointing them at the Meeting for the election to the Board of all of the 12 proposed nominees, including Messrs. Eckert and Smith. The Board believes that the addition of these two nominees will enhance the overall skill set of the Board given their relevant industry expertise.

The Company has retained Kingsdale Advisors as its strategic shareholder advisor and proxy solicitation agent. If you have any questions or need assistance in voting your proxy or voting instruction form, please contact Kingsdale Advisors, at 1-855-682-2031 (toll-free in North America), or 416-867-2272 (collect calls accepted) outside North America or by e-mail at [email protected].

About Yellow Pages Limited

Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing solutions company that supports local economies by helping neighbourhood businesses reach new customers and foster stronger relationships with existing clients through its various media and products. Yellow Pages holds some of Canada's leading local online search properties including YP.ca™, the ComFree / DuProprio network, RedFlagDeals.com™, Canada411.ca, 411.ca, Bookenda.com, dine.TO and YP NextHome. The Company also holds the YP, YP Shopwise, YP Dine, RedFlagDeals, Canada411, 411, Bookenda and YP NextHome mobile applications and Yellow Pages™ print directories. Through Mediative, Yellow Pages is a leader in national advertising through its various channels and services devoted to North American businesses. The Company also owns JUICE Mobile, a mobile advertising technology company whose proprietary programmatic platforms facilitate the automatic buying and selling of mobile advertising between brands and publishers. For more information visit www.corporate.yp.ca.

SOURCE Yellow Pages Limited

Media: Fiona Story, Director, Public Relations & Corporate Communications, Tel.: [phone], [email protected]; Investor Relations: Kevin Chan, Senior Manager, Corporate Planning & Investor Relations, Tel.: [phone], [email protected]

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