Mr. Victor Diab reports

LFL ANNOUNCES TSX APPROVAL OF REPURCHASE PROGRAM FOR COMMON SHARES

Leon's Furniture Ltd. has received approval for a common share repurchase program on the Toronto Stock Exchange. The company intends to repurchase for cancellation a maximum of 3,443,868 common shares, representing 5.0 per cent of the total number of its 68,877,370 issued and outstanding common shares as at March 11, 2026. The average daily trading volume for the six months ended Feb. 28, 2026, was 20,146 common shares. Therefore, other than block purchase exemptions, daily purchases will be limited to 5,036 common shares on the TSX.

The bid will commence on March 23, 2026, and terminate on the earliest of the purchase of 3,443,868 common shares, the issuer providing a notice of termination and March 22, 2027.

Purchases will be executed through the facilities of the TSX or alternative Canadian trading systems at market price under the normal course issuer bid rules of the TSX.

Pursuant to a previous notice of intention to conduct a normal course issuer bid, under which company sought and received approval from the TSX to purchase up to 3,403,405 shares for the period of March 21, 2025, to March 20, 2026, as of March 11, 2026, the company purchased 14,195 shares through the facilities of the TSX and alternative Canadian trading systems.

Leon's today also announced that it will be entering into an automatic share purchase plan (ASPP) with its broker, National Bank Financial Inc., in order to facilitate repurchases of common shares under the NCIB effective April 1, 2026.

Under the ASPP for Leon's, National Bank may purchase common shares at times when Leon's ordinarily would not be active in the market due to insider trading rules and its own internal trading blackout periods. Purchases will be made by National Bank based upon parameters set by Leon's prior to the commencement of any such blackout period and in accordance with the terms of the ASPP.

Leon's believes that the current price of its shares is very attractive and deems the buyback to be a prudent use of the company's capital.

About Leon's Furniture Ltd.

Leon's Furniture is the largest retailer of furniture, appliances and electronics in Canada. The company's retail banners include: Leon's, the Brick, Brick Outlet and the Brick Mattress Store. Finally, with the Brick's Midnorthern Appliance banner alongside Leon's Appliance Canada banner, this makes the company the country's largest commercial retailer of appliances to builders, developers, hotels and property management companies. The company has 300 retail stores from coast to coast in Canada under various banners. The company operates six websites: leons.ca, thebrick.com, furniture.ca, midnorthern.com, transglobalservice.com and appliancecanada.com.