The North West Company Inc. Announces Fourth Quarter Earnings and a Quarterly Dividend

Winnipeg, Manitoba, April 9, 2025 (TSX: NWC): The North West Company Inc. (the “Company” or “North West”) today announced its unaudited financial results for the fourth quarter ended January 31, 2025 and released its 2024 Annual Report and Annual Information Form. The Annual Report includes the Company’s Annual Audited Consolidated Financial Statements and Management’s Discussion and Analysis for the year ended January 31, 2025. These documents are available on the Company’s profile on the SEDAR+ website at www.sedarplus.ca and on the Company’s website at www.northwest.ca. It also announced that the Board of Directors has declared a dividend of $0.40 per share to be paid on April 24, 2025 to shareholders of record on April 16, 2025.

CEO Comments on Fourth Quarter Results and Annual Results

“Our strong sales and earnings this quarter reflect solid performance across all North West Company banners”, commented President & CEO Dan McConnell. “We’re seeing early momentum from our Next 100 program, with new technologies improving on-shelf availability and our private label launch already delivering real value through more choice at better prices. Looking ahead, we’re focused on building on this foundation and expanding our private label offering to ensure customers continue to have access to quality products at a better value, which is even more important in the current economic environment.”

Fourth Quarter and Annual Results

The following table provides a summary of selected information for the 2024 fourth quarter and annual results. Further information on the fourth quarter and annual financial performance is provided in the 2024 Annual Report available on the Company’s website at www.northwest.ca or on SEDAR+ at www.sedarplus.ca.

Selected Fourth Quarter(3) and Annual Information

Annual Highlights

• Three new stores were opened, two in Canadian Operations and one in International Operations, in addition to converting an existing
store in Bethel, Alaska to an AC motorsports dealership.
• Sales increased 4.2%.
• Net earnings increased $9.0 million or 6.7%.
• Return on average equity(1) was 19.3%.
• Return on net assets(1) was 17.8%.
• Debt-to-Equity was 0.37 at January 31, 2025 and has remained below 1.0 since 2000.
• Quarterly dividends increased $0.01 per share or 2.6% to $0.40 per share in September 2024 and annual dividends per share have
increased 3.1% on a compound annual growth basis over the past 10 years.

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