Quebecor Inc. received approval from the Toronto Stock Exchange to amend its normal course issuer bid (« NCIB ») in order to increase the maximum number of Class B Subordinate Voting Shares (the « Class B Shares ») that may be repurchased, being 6,000,000 Class B Shares, representing 3.5% of the 173,422,307 Class B Shares issued and outstanding as of July 31, 2020 (the reference date for the NCIB), to 7,500,000 Class B Shares, representing approximately 4.3% of the Class B Shares issued and outstanding on the reference date. No other terms of the NCIB have been amended.

Purchases under the NCIB began on August 15, 2020, will end no later than August 14, 2021, and are made through the facilities of the Toronto Stock Exchange in accordance with its requirements, or other alternative trading systems. Under its current NCIB, as of May 14, 2021, the Corporation has repurchased 5,329,450 Class B Shares, at a weighted-average price of $32.4647.