Hudson’s Bay Company Announces Appointment of Ian Putnam as Executive Vice President, Chief Corporate Development Officer

Hudson’s Bay Company (“HBC” or the “Company”)(TSX:HBC) is pleased to announce the appointment of Ian Putnam to the position of Executive Vice President, Chief Corporate Development Officer, effective December 17, 2014.

Mr. Putnam has advised HBC since 2008 and has acted on the Company’s behalf in all of its major corporate transactions since that time, including the Company’s sale of Zellers leases to Target Corporation, its initial public offering, its acquisition of Saks Incorporated as well as all of its major financing transactions. Mr. Putnam commenced his career at Stikeman Elliott LLP in 1996 where he was most recently a Partner in the firm’s Toronto office. Prior to rejoining Stikeman Elliott in 2005, Mr. Putnam practiced corporate law for five years at the New York based law firm, Paul, Weiss, Rifkind, Wharton & Garrison LLP. Mr. Putnam’s practice has focused on significant corporate finance and mergers and acquisition transactions with a particular focus on the retail, real estate and consumer products sectors.

Richard Baker, Governor and Chief Executive Officer, Hudson’s Bay Company commented, “Ian has worked closely with HBC’s management team and its Board of Directors as a key strategic advisor since 2008.” He added, “We are excited to welcome him to HBC where he will be intimately involved in all corporate activities of strategic significance to the Company as we drive forward our goals of continuing to unlock shareholder value.”

Mr. Putnam holds a BA (Honours) from Queen’s University, Ontario, Canada; a MSc. from London School of Economics and Political Science, London, England; and a law degree from University of New Brunswick, New Brunswick, Canada.

Mr. Putnam will report to the Office of the Chairman.

About Hudson's Bay Company

Hudson’s Bay Company, founded in 1670, is North America’s longest continually operated company. Today, HBC offers customers a range of retailing categories and shopping experiences primarily in the United States and Canada. Our leading banners – Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH – offer a compelling assortment of apparel, accessories, shoes, beauty and home merchandise. Hudson’s Bay is Canada’s most prominent department store with 90 full-line locations, two outlet stores and thebay.com. Lord & Taylor operates 49 full-line locations primarily in the northeastern and mid-Atlantic U.S., four Lord & Taylor outlet locations and lordandtaylor.com. Saks Fifth Avenue, one of the world’s pre-eminent luxury specialty retailers, comprises 40 U.S. stores, five international licensed stores and saks.com. OFF 5TH offers value-oriented merchandise through 80 U.S. stores and saksoff5th.com. Home Outfitters is Canada’s largest kitchen, bed and bath specialty superstore with 69 locations. Hudson’s Bay Company trades on the Toronto Stock Exchange under the symbol “HBC”.