MOORESVILLE, NORTH CAROLINA and BOUCHERVILLE, QUEBEC--(Marketwired - Nov. 18, 2016) - Lowe's Companies, Inc.
(NYSE:LOW) ("Lowe's" or the "Company") today announced it has completed its previously announced acquisition of RONA inc.'s
(TSX:RON.PR.A)(TSX:RON.PR.B) ("RONA") Cumulative 5-Year Rate Reset Series 6 Class A Preferred Shares and Cumulative Floating Rate
Series 7 Class A Preferred Shares (collectively, the "Preferred Shares"). Pursuant to the statutory plan of arrangement (the
"Arrangement") under Chapter XVI - Division II of the Business Corporations Act (Québec), holders of RONA's Preferred
Shares (collectively, the "Preferred Shareholders") will receive cash proceeds of C$24, without interest, per Preferred
Share.
Registered Preferred Shareholders must submit the share certificates representing their Preferred Shares and complete, execute
and submit the Letter of Transmittal sent to them with the other materials for the special meeting of RONA shareholders held on
Nov. 15, 2016 in order to receive the consideration to which they are entitled. Preferred Shareholders who have not yet
submitted their share certificates and Letters of Transmittal are encouraged to do so as soon as possible. Any questions
regarding payment of the consideration, including any request for another copy of the Letter of Transmittal, should be directed
to Computershare Investor Services Inc. via telephone at 1-800-564-6253 (toll free in North America) or via email at corporateactions@computershare.com.
RONA has applied to delist its Preferred Shares from the Toronto Stock Exchange ("TSX") and expects such delisting to be
completed in a few trading days. RONA has also applied to cease to be a reporting issuer in each of the Provinces of Canada under
applicable Canadian securities laws.
About Lowe's Companies, Inc.
Lowe's Companies, Inc. (NYSE:LOW) is a FORTUNE® 50 home improvement company serving more than 17 million customers a week in
the United States, Canada and Mexico. With fiscal year 2015 sales of $59.1 billion, Lowe's and its related businesses
operate or service more than 2,355 home improvement and hardware stores and employ over 285,000 employees. Founded in 1946 and
based in Mooresville, N.C., Lowe's supports the communities it serves through programs that focus on K-12 public education and
community improvement projects. For more information, visit Lowes.com.
About RONA inc.
Acquired by Lowe's Companies, Inc. on May 20, 2016, RONA inc. is a major Canadian retailer and distributor of hardware,
building materials and home renovation products. RONA operates a network of close to 500 corporate and independent affiliate
dealer stores in a number of complementary formats. RONA serves its network of stores and several independent dealers operating
under other banners, including Ace, for which RONA owns the licensing rights and is the exclusive distributor in Canada. With
more than 17,000 employees in corporate stores and more than 5,000 employees in the stores of its independent affiliate
dealers, the Corporation generated annual consolidated sales of $4.2 billion for fiscal year 2015. For more information, visit
rona.ca.
Forward-Looking Statements
This news release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of
1995 and Canadian securities legislation and regulation, including those regarding the transaction. Statements including
words such as "may", "will", "could", "should", "would", "plan", "potential", "intend", "anticipate", "believe", "estimate" or
"expect" and other words, terms and phrases of similar meaning are forward-looking statements. Forward-looking statements involve
estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Such forward-looking
statements include, but are not limited to, the expected timing of the de-listing of the Preferred Shares and RONA's application
to cease to be a reporting issuer under applicable Canadian securities laws. Although we believe that the expectations,
opinions, projections, and comments reflected in these forward-looking statements are reasonable, we can give no assurance that
such statements will prove to be correct. A wide variety of potential risks, uncertainties, and other factors could materially
affect our ability to achieve the results either expressed or implied by these forward-looking statements. For more information
about risks and uncertainties that Lowe's Companies, Inc. is exposed to, you should read the "Risk Factors" and "Critical
Accounting Policies and Estimates" included in its most recent Annual Report on Form 10-K to the United States Securities and
Exchange Commission (the "SEC") and the description of material changes therein or updated version thereof, if any, included in
its Quarterly Reports on Form 10-Q or subsequent filings with the SEC.
The forward-looking statements contained in this news release are expressly qualified in their entirety by the foregoing
cautionary statements. All such forward-looking statements are based upon data available as of the date of this release or
other specified date and speak only as of such date. All subsequent written and oral forward-looking statements attributable to
us or any person acting on our behalf about any of the matters covered in this release are qualified by these cautionary
statements and in the "Risk Factors" included in Lowe's Companies, Inc.'s most recent Annual Report on Form 10-K to the SEC and
the description of material changes, if any, therein included in its Quarterly Reports on Form 10-Q or subsequent filings with
the SEC. We expressly disclaim any obligation to update or revise any forward-looking statement, whether as a result of new
information, change in circumstances, future events, or otherwise, except as may be required by law.