Best Buy Canada and Bell Canada partnering to operate 165 small-format stores

Best Buy Canada and Bell Canada partner to deliver the next evolution of consumer electronics retail for Canadian consumers

• Best Buy Canada and Bell to operate 165 small-format consumer electronics retail stores across Canada, branded Best Buy Express
• Best Buy Express stores to offer leading consumer electronics from Best Buy and wireline and wireless services from Bell, Virgin Plus and Lucky Mobile

MONTRÉAL and VANCOUVER, January 18, 2024 – Best Buy Canada and Bell Canada (TSX, NYSE: BCE) have entered into a strategic partnership to operate 165 consumer electronics retail stores in Canada. The Source, a wholly owned subsidiary of Bell, will be rebranded as Best Buy Express and offer the latest in consumer electronics from Best Buy along with exclusive telecommunications services from Bell.

This innovative partnership will make the most of the respective strengths of Best Buy and Bell to deliver an exceptional shopping experience for Canadians. Best Buy and Bell will invest in an updated store experience, as well as an expanded product assortment, customer experience and training. Customers will benefit from Best Buy’s expertise in consumer electronics to find the latest products from the world’s leading brands, its global buying power and industry-leading supply chain. In addition, customers will find Bell, Virgin Plus and Lucky Mobile mobility, Internet, TV and home phone services, all backed by knowledgeable sales and support they have come to expect from Best Buy and Bell.

Best Buy will expand its presence in malls and in smaller and mid-sized communities across the country, leveraging 165 The Source locations that will augment Best Buy’s presence throughout Canada. Best Buy Express’ small-store format will give customers an easy-to-navigate, welcoming experience, enabling customers to experience the products in person and talk with a sales associate before purchasing. As today’s customers increasingly want to shop in ways that are convenient for them, whether in store or online, the e-commerce power of bestbuy.ca will offer customers a wider selection of consumer electronics with the option for full delivery or pick up of online orders in Best Buy or Best Buy Express stores.

Best Buy Express is expected to open in locations across Canada starting in the second half of 2024.

Quotes

“We’re excited to collaborate with Bell on this unique venture to expand Best Buy’s presence to new communities across the country. We’re very proud of our store experience and these updated small stores are sure to appeal to new and existing Best Buy customers.”

- Ron Wilson, President, Best Buy Canada

“We’re excited to join forces with Best Buy to deliver a ground-breaking partnership that will resonate with Canadian consumers. By combining Canada’s award-winning mobility and Internet from Bell, and converting The Source’s extensive retail footprint to Best Buy’s leading consumer electronics experience, we’re giving customers the best of all worlds for tech and telecommunications retail in Canada.”

- Blaik Kirby, Group President, Consumer and Small & Medium Business, Bell

About Best Buy Canada

A wholly owned subsidiary of Best Buy Co., Inc. (NYSE:BBY), Best Buy Canada Ltd. is one of Canada’s largest and most innovative omnichannel retailers, operating the Best Buy, Best Buy Mobile, and Geek Squad (www.geeksquad.ca) brands. With over 160 Best Buy and Best Buy Mobile stores across Canada and an expanded assortment of lifestyle products offered through BestBuy.ca, Best Buy is a leader in total retail, catering to customers how, when, and where they want to shop. Best Buy Canada is committed to making a positive impact in the community with programs and partnerships that support youth to connect with technology to advance their education. For more information, visit BestBuy.ca.

About BCE

BCE is Canada’s largest communications company,¹ providing advanced Bell broadband wireless, Internet, TV, media and business communications services. To learn more, please visit Bell.ca or BCE.ca.

Through Bell for Better, we are investing to create a better today and a better tomorrow by supporting the social and economic prosperity of our communities. This includes the Bell Let's Talk initiative, which promotes Canadian mental health with national awareness and anti-stigma campaigns like Bell Let's Talk Day and significant Bell funding of community care and access, research and workplace initiatives throughout the country. To learn more, please visit Bell.ca/LetsTalk.

¹ Based on total revenue and total combined customer connections.

Media inquiries
Tara Narain
tnarain@bestbuycanada.ca

Ellen Murphy
media@bell.ca

Investor inquiries
Thane Fotopoulos
thane.fotopoulos@bell.ca