Stephen Reitman Transitions to Board Director and Chairman Emeritus; Samuel Minzberg to Become Board Chair

MONTREAL, Feb. 19, 2026 /CNW/ - Reitmans (Canada) Limited ("RCL" or the "Company") (TSXV: RET) (TSXV: RET.A), today announced a planned transition in its Board leadership.

After having served as Executive Chairman since September 2023, Stephen Reitman will retire from the role effective March 6, 2026, and will continue to serve on the RCL Board of Directors as Chairman Emeritus and Board Director.

The Board has appointed independent director, Samuel Minzberg, to serve as Chairman of the Board, effective March 7, 2026.

Mr. Reitman joined RCL more than 50 years ago and has played a pivotal role in the organization's growth and long-term success. As Executive Chairman, he worked closely with management and the Board to support RCL through its period of strategic renewal and leadership transition with Andrea Limbardi's appointment to President and CEO in September 2023.

"It has been a privilege to serve RCL for more than five decades and, most recently, as Executive Chairman," said Stephen Reitman. "I am deeply proud of the organization we have built, and I am most confident in Andrea and the leadership team in place today, as they execute the RCL transformational strategy. I look forward to continuing to support RCL as Chairman Emeritus and Board Director. Mr. Minzberg has served on the RCL Board for several years and has extensive governance experience, as well as a deep understanding of the organization's mission and future priorities. He brings exceptional judgment, integrity, and perspective to the role of Chairman, and I have great confidence in his ability to lead the Board."

"On behalf of the entire Board, I want to thank Stephen for his extraordinary commitment and leadership over more than 50 years," said Samuel Minzberg. "Stephen's stewardship has shaped RCL in enduring ways, and we are grateful that he will continue to share his wisdom as Chairman Emeritus. I am honoured to follow him as Chair and to work with the Board and management to build on the strong foundation in place."

"Stephen's impact on RCL has been immeasurable, and I am grateful for his guidance and partnership," said Andrea Limbardi. "I look forward to continuing to work closely with Sam in his new role as Chair, and with our Board, as we execute on RCL's strategy, and lead the organization into its next chapter."

This transition reflects RCL's longstanding commitment to thoughtful succession planning, strong governance, and leadership continuity.

About Reitmans (Canada) Limited

Reitmans (Canada) Limited is one of Canada's leading specialty apparel retailers for women and men, with retail outlets throughout the country. The Company operates 388 stores under three distinct banners consisting of 218 Reitmans, 85 PENN., and 85 RW&CO.

For more information, visit www.reitmanscanadalimited.com.

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Forward-Looking Statements
Statements made in this news release, other than statements of fact that are independently verifiable at the date hereof, may be forward-looking in nature. The reader should not place undue reliance on any forward-looking statements included herein. The Company cannot guarantee that any forward-looking statement will materialize, or if any of them do, what benefits the Company will derive from them. Numerous risks and uncertainties could cause the Company's actual results to differ materially from those expressed, implied or projected in the forward-looking statements. Factors that could cause results to vary include those identified in the Company's filings with Canadian securities regulatory authorities. All forward-looking statements presented herein should be considered in conjunction with such filings. The Company does not undertake to update any forward-looking statements; such statements speak only as of the date made.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Reitmans (Canada) Ltd