CRCD will thus have an additional $140 million to support Québec SMEs and cooperatives through the recovery

Montréal, September 29, 2020 - At the end of the pre-subscription period for Capital régional et coopératif Desjardins (CRCD) shares which ran from August 31 to September 21, 2020, 54,412 persons had completed an application to subscribe for shares in an aggregate amount of $159.8 million, an average of $2,936 per investor. With the authorized limit set at $140 million by the Québec government, 47,631 Québec taxpayers will be able to benefit from the provincial tax credit of 35%. As in previous years, the maximum share amount available for subscription is $3,000 per investor.

In accordance with the terms of the offering prospectus approved by the Autorité des marchés financiers, investors who can purchase shares were selected at random yesterday under the supervision of the Desjardins Group Monitoring Office. All those who completed an application will be advised by email or regular mail starting today. All selected investors will have until 8:00 p.m. on November 2, 2020 to complete their subscription. All selected investors, whether or not they are already CRCD shareholders, will be able to subscribe directly online via AccèsD, without having to make an appointment at a caisse. Investors who do not use AccèsD and those seeking advice should contact an advisor at a caisse.

CRCD, partnering economic recovery in Québec's regions

"I would like to applaud the renewed commitment of CRCD's shareholders at a time when we need, more than ever before, every means to support SME and cooperatives across Québec that are dealing with the challenges posed by the pandemic," declared Yves Calloc'h, acting Chief Operating Officer of Desjardins Capital, the entity which manages the CRCD fund.

If any selected investors do not complete a share purchase, the next investors on Monday's randomly established list will be contacted as of November 5, 2020 until the authorized issue limit is fully reached.

Exchange of shares from November 9, 2020 to January 8, 2021

As in 2018 and 2019, the Québec government authorized CRCD to exchange an annual amount of $100 million, allowing shareholders to defer for seven years, starting from the acceptance date of their request, the right to exchange their eligible shares, that is, shares held for at least seven years, for a 10% tax credit. Qualifying for this measure are CRCD shareholders who have never redeemed shares.

Terms and conditions of the share exchange

Between November 9, 2020 and January 8, 2021, shareholders interested in this option may make a request to exchange their current eligible shares, up to a value of $15,000, for a new class of shares which they will also be required to hold for at least seven years. The authorized provincial tax credit amounts to 10% of the value of the shares exchanged, or a potential credit of $1,500 for 2020.

In early November 2020, the 47,000 eligible shareholders will receive a personalized communication by mail inviting them to complete their request online (www.desjardins.com/crcd-exchange). If total demand for the exchange exceeds the authorized amount of $100 million, CRCD will proceed with a random selection involving all shareholders who have completed a request. If demand does not exceed supply, all shareholders will be accepted for exchanges.

CRCD shares are not guaranteed, their value fluctuates and their past performance is not indicative of their future returns. Investment fees may apply. Please read the prospectus before deciding whether to invest or to exchange your shares.

Richard Lacasse
418 835-8444 or 1 866 835-8444, ext. 556 3163
media@desjardins.com