Hudson’s Bay Company completes $140 million secondary offering of common shares

June 2, 2014

Client: Underwriters

On June 2, 2014, Hudson’s Bay Company (Luxembourg) S.à r.l.(“HBC Luxembourg”) and its affiliate True North Retail Investments I, Inc. (“Truth North”, and together with HBC Luxembourg, the “Selling Shareholders”) completed the sale of an aggregate of 7,870,000 common shares of Hudson’s Bay Company (TSX: HBC) (“HBC”) at a price of $17.80 per common share resulting in gross proceeds of $140,086,000 (the “Secondary Offering”).

The Secondary Offering was completed on a bought deal basis by a syndicate of underwriters led by CIBC World Markets Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., TD Securities Inc. and Merrill Lynch Canada Inc., who acted as joint bookrunners, and including Scotia Capital Inc., Canaccord Genuity Corp. and National Bank Financial Inc.

Norton Rose Fulbright Canada LLP represented the underwriters with a team led by Pierre Dagenais (Securities) and that included Geoffrey Gilbert (US Securities), Bruce Sheiner and Hoori Chitilian (Securities) and Adrienne Oliver (Tax).