Statement from the Caisse de dépôt et placement du Québec on a proposed acquisition of Rona by Lowe’s

The Caisse de dépôt et placement du Québec has taken note of the statement issued earlier this morning by Rona concerning an unsolicited acquisition proposal by Lowe’s Companies, Inc.

In this context, and taking into account its mission to achieve returns for its depositors while contributing to Québec’s economic development, the Caisse’s actions on this file will be guided by the following criteria:

• value creation for our depositors and for all shareholders over the long term, as well as the importance of the economic benefits of Rona’s head office in Québec;
• the importance of the continuing development of their supplier network in Québec and across Canada; and
• the importance of respecting the role of independent entrepreneurs acting as franchisees under the Rona banner.

As a significant Rona shareholder, and on the basis of these criteria, the Caisse will follow very closely the evolution of this file as well as the performance of the company.

ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2011, it held $159.0 billion in net assets. As one of Canada’s leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.cdpq.com.