GlobeNewswire Inc | Jan 12, 2022 08:01AM EST

January 12, 2022

CALGARY, Alberta, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Shaw Communications Inc. (Shaw) announced today that its Board of Directors has declared monthly dividends of $0.09875 per Class B Non-Voting Participating Share and $0.098542 per Class A Participating Share, payable on each of March30,2022, April 28, 2022 and May 30, 2022 to holders of record at the close of business on March 15, 2022, April 14, 2022 and May 13, 2022, respectively.

The foregoing dividends are designated as eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial legislation.

Shaws Board of Directors reviews the applicable dividend rates on a quarterly basis. Shareholders will not be entitled to receive a particular dividend unless they are holders of record on the applicable record date. There is no entitlement to any dividend prior to such date.

If the Effective Date of the Arrangement (each as defined in the Arrangement Agreement dated March 13, 2021, between Shaw and Rogers Communications Inc.) occurs prior to any of the record dates set forth above, no further dividends will be paid on the Class B Non-Voting Participating Shares and the Class A Participating Shares.

About Shaw Communications Inc.

Shaw Communications Inc. is a leading Canadian connectivity company. The Wireline division consists of Consumer and Business services. Consumer serves residential customers with broadband Internet, Shaw Go WiFi, video and digital phone. Business provides business customers with Internet, data, WiFi, digital phone, and video services. The Wireless division provides wireless voice and LTE data services.

Shaw is traded on the Toronto and New York stock exchanges and is included in the S&P/TSX 60 Index (Symbol: TSX SJR.B, NYSE SJR, and TSXV SJR.A). For more information, please visitwww.shaw.ca.

For further information, please contact:Shaw Investor Relations investor.relations@sjrb.ca