Yellow Pages Limited Announces Plan for $25 million Share Buyback and $2 million Pension Plan Voluntary Contribution

MONTREAL, April 7, 2026 /CNW/ - Yellow Pages Limited (TSX: Y) (the "Company"), a leading Canadian digital media and marketing company, today announced that the Board has approved a distribution to shareholders of approximately $25 million by way of a share repurchase from all shareholders pursuant to a statutory arrangement under the Business Corporations Act (British Columbia). The arrangement will be effected pursuant to a plan of arrangement (the "Arrangement") which provides that the Company will repurchase from shareholders pro rata an aggregate of 2,037,489 common shares at a purchase price of $12.27 per share, which represents the volume weighted average price for the five consecutive trading days ending the trading day immediately prior to April 7, 2026.

In connection with the Arrangement, the Company will also voluntarily contribute $2 million to the Pension Plan before June 19, 2026, bringing the cash payments to the Pension Plan's wind-up deficit following the purchase of group annuity contracts in May 2025 to $6.0 million by June 2026.

The Arrangement is subject to the approval of at least 66 2/3% of the votes cast by the holders of shares at a special meeting of shareholders that will be called to approve the Arrangement, which is expected to be held virtually on June 11, 2026. Shareholders holding in excess of 80% of the outstanding shares have agreed with the Company to vote in favor of the arrangement. The Arrangement is also subject to the receipt of the approval of the Supreme Court of British Columbia.

About Yellow Pages Limited

Yellow Pages Limited (TSX: Y) is a Canadian digital media and marketing company that creates opportunities for buyers and sellers to interact and transact in the local economy. Yellow Pages holds some of Canada's leading local online properties including YP.ca, Canada411 and 411.ca. The Company also holds the YP, Canada411.ca and 411 mobile applications and Yellow Pages print directories. For more information visit www.corporate.yp.ca.

Caution Concerning Forward-Looking Statements

This press release contains certain forward-looking statements about the Arrangement within the meaning of applicable securities laws. Completion of the Arrangement is subject to a number of risk. Risks that could cause our results to differ materially from our current expectations are discussed in section 5 of our February 11, 2026 Management's Discussion and Analysis. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason.

SOURCE Yellow Pages Limited

Contacts: Investors & Media: Philip Samman. General Counsel & Corporate Secretary, [email protected], [email protected]