Shaw Extends Dividend Reinvestment Plan to Residents of the United States

CALGARY, ALBERTA--(Marketwired - Dec. 16, 2016) - Shaw Communications Inc. (TSX:SJR.B)(TSX:SJR.PR.A)(TSX:SJR.PR.B)(NYSE:SJR)(TSX VENTURE:SJR.A) (Shaw) announced today that its eligible shareholders who are residents of the United States can now enroll their Class A Participating Shares (Class A Shares) and Class B Non-Voting Participating Shares (Class B Shares) in its dividend reinvestment plan (Plan). Since its launch in 2008 the Plan was available only to shareholders who were residents of Canada.

The Plan provides a convenient way for Plan participants to reinvest cash dividends paid on their Class A Shares and/or Class B Shares to purchase additional Class B Shares without brokerage commissions, fees or transaction costs.

On each dividend payment date, cash dividends payable on a participant's Class A Shares and/or Class B Shares are paid by Shaw to CST Trust Company, Shaw's registrar and transfer agent which serves as agent under the plan (Plan Agent). The Plan Agent uses those funds (less any withholdings under applicable tax laws) to purchase Class B Shares. At Shaw's election, the Class B Shares purchased by the Plan Agent are either Class B Shares newly issued by Shaw (Treasury) or outstanding Class B Shares purchased through the facilities of the Toronto Stock Exchange. Shaw currently elects to issue Class B Shares from Treasury at a 2% discount to the market price set in accordance with the terms of the Plan.

Dividends to be reinvested under the Plan for participants who are not residents of Canada will be subject to withholdings under applicable tax laws and, accordingly, the amount reinvested under the Plan for those participants will be reduced by the amount of such withholdings.

Information on the Plan can be obtained from the Plan Agent by accessing its website at www.canstockta.com.

About Shaw Communications Inc.

Shaw Communications Inc. is an enhanced connectivity provider. Our Consumer division serves consumers with broadband Internet, Shaw Go WiFi, video and digital phone. Our Wireless division provides wireless voice and data services through an expanding and improving mobile wireless network infrastructure. The Business Network Services division provides business customers with Internet, data, WiFi, telephony, video and fleet tracking services. The Business Infrastructure Services division, through ViaWest, provides hybrid IT solutions including colocation, cloud computing and security and compliance for North American enterprises.

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