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Hudson’s Bay Company To Acquire Saks Incorporated For US$16 Per Share, Bringing Together Three Iconic Retail Brands

About Saks Incorporated

Saks Incorporated currently operates 41 Saks Fifth Avenue stores and 67 Saks Fifth Avenue OFF 5TH stores throughout the United States and its online store, saks.com. Saks Incorporated trades on the NYSE under the symbol “SKS.” Saks Fifth Avenue is one of the world’s pre-eminent specialty retailers and is renowned for its superlative American and international designer collections; its expertly edited assortment of handbags, shoes, jewelry, cosmetics and gifts; and the first-rate fashion expertise and exemplary client service of its Associates. Saks Fifth Avenue is proud to be named a J.D. Power and Associates 2012 Customer Service Champion and is only one of 50 U.S. companies so named.

Saks Fifth Avenue OFF 5TH is a world-class, full-service destination for value-priced clothes and accessories for men, women, children and the home. OFF 5TH stores combine the two great joys of shopping: the delight of finding the very best and the thrill of the deal. Highly coveted designers are displayed alongside exclusive Saks brands you won’t find anywhere else, all in a luxury-in-a-loft environment that can showcase an emerging trend one day and a great deal the next.

About Ontario Teachers’ Pension Plan

With C$129.5 billion in net assets as of December 31, 2012, the Ontario Teachers' Pension Plan is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund's assets and administers the pensions of 303,000 active and retired teachers in Ontario. For more information, including our 2012 and previous annual reports, visit  www.otpp.com. Follow us on Twitter @OtppInfo.

About West Face Capital Inc.

West Face is one of Canada’s leading alternative investment managers with C$2.7 billion in assets under management. West Face is active in a wide range of strategies, including providing bespoke capital solutions to companies with unique opportunities. West Face’s capabilities are underpinned by a seasoned multi-disciplinary investment team, proprietary origination channels and deep sector expertise, both domestically and internationally.

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