Mr. Tony Staffieri reports

SIGNS AGREEMENT TO BUY KILMER SPORTS 25% OWNERSHIP STAKE IN MLSE NEW GLOBAL SPORTS AND ENTERTAINMENT POWERHOUSE WILL DELIVER MORE FOR FANS AND CUSTOMERS

Rogers Communications Inc. has signed an agreement to buy the remaining 25-per-cent ownership stake in Maple Leaf Sports & Entertainment (MLSE) from Kilmer Sports Inc. for $4.35-billion, increasing Rogers's ownership in MLSE to 100 per cent.

"This is a defining moment for Rogers. Our full ownership of MLSE brings together Canada's premier communications company with Canada's premier sports and entertainment organization," said Tony Staffieri, president and chief executive officer, Rogers. "It gives us even more opportunity to invest in championship-calibre teams, create unique experiences for customers and fans, and unlock long-term value for shareholders."

Investing to bring championships to Canada

Rogers has a long record of investing in Canadian sports. With this transaction, Rogers will continue to invest to bring championships to Canada, to continuously improve the fan experience and to deliver the best sports content to all Canadians.

Beyond MLSE, the Rogers sports portfolio includes ownership of the Toronto Blue Jays, Rogers Centre and Sportsnet, the No. 1 sports media brand in Canada. The company also has strategic partnerships with the Vancouver Canucks, Edmonton Oilers, Calgary Flames, the NHL, the NBA, MLB and Live Nation.

"Sports is a great unifier, it rallies us and brings us together in a truly unique way," said Edward Rogers, executive chair, Rogers. "Winning is everything for fans and we're committed to investing to bring championships to Canada as a proud owner and long-term steward of these beloved teams."

"We want to recognize Larry Tanenbaum for his contributions to MLSE and to sports in Toronto," added Mr. Rogers. "For decades, Larry has helped shape MLSE and we thank him for his partnership and his lasting impact."

Delivering more value to fans and customers

Rogers will bring together its full sports and entertainment portfolio to deliver unique and compelling offers and experiences to fans and to Rogers customers. This will include investments to expand affordable options and access to tickets, ticket-giveaways and unique once-in-a-lifetime experiences like attending the World Series or the Stanley Cup Finals.

"We will create more opportunities for fans to connect with the teams they love, and we will invest to deliver unique and compelling rewards for our customers," added Mr. Staffieri.

Investing to grow shareholder value

MLSE continues to be a highly valuable and appreciating investment. Full ownership of these iconic teams will strengthen Rogers's ability to drive long-term growth across its communications, sports and entertainment businesses.

Rogers intends to finance this transaction with its committed liquidity. As previously disclosed, Rogers intends to sell a minority stake in the consolidated Rogers sports, media and entertainment assets over the course of the next year.

The transaction is subject to league approvals. Rogers expects the transaction to close in the fourth quarter of 2026.

About Rogers Communications Inc.

Rogers is Canada's communications, sports and entertainment company.

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