Vail Resorts (MTN), Whistler Blackcomb Merger Approved by Canadian Competition Bureau

September 26, 2016 6:44 AM EDT

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Vail Resorts, Inc. (NYSE: MTN) and Whistler Blackcomb Holdings, Inc., announced that the Canadian Competition Bureau has issued a no-action letter under the Competition Act (Canada) indicating that it does not intend to challenge the proposed strategic business combination joining Whistler Blackcomb with Vail Resorts.

The proposed combination remains subject to customary closing conditions, including approval by Whistler Blackcomb shareholders and the Supreme Court of British Columbia and approval under the Investment Canada Act. The transaction is expected to close in the fall of 2016.

The strategic combination joining Whistler Blackcomb with Vail Resorts has been unanimously approved by the Whistler Blackcomb board of directors on the basis of, among other things, the significant value and future upside it provides for Whistler Blackcomb shareholders, as well as other benefits to Whistler Blackcomb, its neighboring communities and other stakeholders. Shareholders representing 25 percent of Whistler Blackcomb's common shares, including certain affiliates of KSL Capital Partners, Whistler Blackcomb's largest shareholder, have entered into voting support agreements in connection with the transaction.

Whistler Blackcomb shareholders are urged to vote IN FAVOUR of the Arrangement prior to the proxy voting deadline of 1:00 pm (Vancouver time) on October 3, 2016.

Whistler Blackcomb Shareholder Voting:

Whistler Blackcomb shareholders are encouraged to review the Management Information Circular ("the Circular") which provides details of the special meeting of holders of common shares of Whistler Blackcomb to be held on Wednesday, October 5, 2016 at 1:00 p.m. (Vancouver time) at the Fairmont Waterfront, Cheakamus Room, 900 Canada Place Way, Vancouver, British Columbia, Canada. The purpose of the special meeting of shareholders is to seek shareholder approval of the proposed combination pursuant to an arrangement agreement (the "Arrangement Agreement") dated August 5, 2016 ("the Arrangement").

The Circular was filed on SEDAR on September 6, 2016 and mailed to Whistler Blackcomb shareholders. The Circular and other materials are also available on Whistler Blackcomb's investor relations website at:

Whistler Blackcomb shareholders who have questions regarding the Arrangement or require assistance with voting may contact the proxy solicitation agent below:

Laurel Hill Advisory GroupToll Free: 1.877.452.7184International: 1.416.304.0211 outside Canada and the USABy Email:

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