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To ensure that your shares are represented at the meeting, shareholders should return their WHITE proxy so that it is received no later than 10:00 a.m. (Edmonton time) on Friday, June 16, 2017.

Directors and Senior Management

Jim Dinning CM, ICD.D, BCom, MPA, Chairman, Director

Mr. Dinning has been a director of LIQ since its inception in 2004 and became Board Chair in 2011. Mr. Dinning is also board chair at TSX-listed Russel Metals Inc., of Mississauga, Ontario and TSX-Venture listed The Western Investment Co. of Canada Ltd., of High River, Alberta. He chairs Desjardins Group owned Western Financial Group Inc. and Zag Bank. Mr. Dinning is a member of the Western Financial Group’s Governance, Compensation and Conduct Review Committee. In February 2017, Winnipeg-based Wawanesa Mutual Insurance Co. agreed to acquire Western Financial and another company for $775 million from Desjardins Financial Corp. The transaction is expected to close in the third quarter of 2017. He serves on Zag Bank’s Governance, Compensation and Conduct Review Committee. Mr. Dinning previously served as chair of TSX-listed Bronco Energy Ltd. of Calgary, Alberta and Export Development Canada of Ottawa, Ontario, a Canadian government-owned export credit agency. He has previously served as a director of four TSX-listed companies: Oncolytics Biotech Inc. of Calgary; Parkland Fuel Corporation of Red Deer, Alberta; Finning International Inc. of Vancouver, B.C. and Shaw Communications Inc. of Calgary. Mr. Dinning was Executive Vice President of Calgary-based TransAlta Corporation, a power generation and wholesale marketing company, from 1997 to 2004. Mr. Dinning served as Member of the Alberta Legislative Assembly from 1986 to 1997 and held several key positions including Provincial Treasurer. In 2015, Mr. Dinning was named a Member of the Order of Canada and a Fellow of the Institute of Corporate Directors. He is the recipient of the Distinguished Service Award from the Institute of Chartered Accountants of Alberta (in 1997) and was awarded an Honorary LLD from the University of Calgary in 2002. He is Chancellor Emeritus of the University of Calgary. Mr. Dinning is a graduate of Queen’s University holding both a BComm and a Masters in Public Administration.

Stephen Bebis, President and Chief Executive Officer and Director

Mr. Bebis joined the Board in May, 2013. He has more than 45 years of experience in the retail sector in North America. Prior to joining Liquor Stores, he was President and Chief Executive Officer of closely-held Brookstone Inc. of Merrimack, New Hampshire from 2012 to 2013. Brookstone is a specialty lifestyle retail company with nearly 300 stores. From 1998 to 2011, Mr. Bebis served as the founder, President and CEO of TSX-listed Golf Town of Toronto, Ontario, the largest specialty golf retailer in Canada and one of the largest in the world. From 1996 to 1998, Mr. Bebis was Chairman, President, and CEO of NYSE-listed Sports and Recreation, Inc., Tampa, Florida, the tenth largest sporting goods chain in the U.S. Prior thereto, Mr. Bebis held various executive-level positions, including (among others) President of Home Depot Canada, and founder and CEO of Toronto-based Aikenhead's Home Improvement Warehouse.

Henry Bereznicki, BSc, MBA, Director

Mr. Bereznicki joined the board in August, 2004. He has been a partner in North American Development Group (“NADG”), an Ontario based private real estate developer, and its predecessors since 1987. He has held the position of Managing Partner, Western Region (based in Edmonton) for the past twenty five years. He is responsible for NADG's activities across the four western Canadian provinces as well as Arizona and Colorado. Mr Bereznicki was a co-founder of Liquor World, one of the predecessor companies of Liquor Stores, and he initiated and completed the merger with Liquor Depot eight months before he took Liquor Stores public in 2004. He previously served as Board Chairman of Liquor Stores for a period of seven years. Mr. Bereznicki founded Liquor World in 1993, and served as its President and Chief Executive Officer throughout its eleven year history. Mr. Bereznicki was a co-founder of the Alberta Liquor Store Association, and served as first Vice President of the organization. Mr. Bereznicki is involved as a member and former executive in the Alberta Chapter of the Young Presidents Organization (YPO and WPO). Mr. Bereznicki holds a Bachelor of Science Degree in Civil Engineering from the University of Alberta, as well as a Masters Degree in Business Administration from Harvard University.

Gary Collins, Director

Mr. Collins joined the board in September, 2006. He has been a Senior Advisor at Lazard Ltd., a New York-based, publicly-traded, global financial advisory and asset management firm, since September, 2016. Previously, from February 2015 to September 2016, Mr. Collins was a Senior Advisor at Verus Partners & Co., a closely-held, Toronto-based strategic financial advisory firm. Before that, from August 2012 until May 2014, he was President of Vancouver-based Coastal Contacts Inc., a TSX-listed, leading online direct¬to¬customer retailer of replacement contact lenses and eye glasses. In May 2014, Coastal was purchased by Essilor International of France for $435 million. From April 2007 to July 2012, Mr. Collins was Senior Vice President of Belkorp Industries Inc. of Vancouver, a private holding company. Prior to that, Mr. Collins was the President and Chief Executive Officer of Vancouver-based airline Harmony Airways from 2004 until 2006. From 1991 to 2004, he was a member of the British Columbia Legislative Assembly and held the portfolio of Minister of Finance from 2001 to 2004. Mr. Collins is also a director of TSX-listed companies Chorus Aviation Inc. of Dartmouth, Nova Scotia, D-Box Technologies Inc. of Montreal, Quebec, and Rogers Sugar Inc. From 2005 to 2010, Mr. Collins was a member of the board of Vancouver-based Catalyst Paper Corp. and served as Chair of the Compensation Committee. From 2007 until 2012, Mr. Collins was a member of the board of Lantic Sugar Limited (a division of Rogers Sugar Inc.).

Susan Doniz, BSc, ICD.D, Director

Ms. Doniz joined the board in January, 2015. She has been the Chief Information Officer for Australian Stock Exchange-listed Qantas Airways Limited, Australia’s national airline, since February 1, 2017. From January 2016 to January 15, 2017, Ms. Doniz was Chief Expert in Digital Transformation with Frankfurt Stock Exchange and NYSE-listed SAP SE, a German multinational software and programming company. Before that, from 2011 to 2015 she was the Global Chief Information Officer for TSX-listed Aimia Inc., a Toronto-based world leader in loyalty rewards management (and the owner/operator of Aeroplan). Previously, Ms. Doniz held a variety of senior leadership roles with NYSE-listed Proctor & Gamble Co. of Cincinnati, Ohio, including time spent with the company’s subsidiaries in both Europe and Latin America. Ms. Doniz serves as a director IGM Financial Inc. of Winnipeg, Manitoba, and goeasy Ltd. of Mississauga, Ontario, both listed on the TSX, and the not-for-profit organization, Payments Canada of Ottawa, Ontario. Ms. Doniz previously served on the boards of TSX Venture-listed Snipp Interactive Inc. of Bethesda, MD, the privately held Cymax Stores Inc. of Burnaby, B.C., the Salvation Army’s National Advisory Board and the Woman’s College Hospital Foundation in Toronto. Ms. Doniz is the Chair of Development at the Ontario Science Centre, and on the Advisory Board for the Center for Digital Transformation at the University of California at Irvine. Ms. Doniz graduated from the University of Toronto with a Bachelor of Science Degree in Engineering (in 1993), and studied graduate courses in Europe (Netherlands) and Executive Learning at Harvard.

Robert S. Green, BSc, LLB, Director

Mr. Green joined the board in August, 2004. He is the President of, and a partner in, North American Development Group, a private real estate development company which he joined in 1985, after specializing in the practice of commercial real estate law with a major Canadian law firm. Mr. Green has over 30 years of experience in managing, leasing, developing and acquiring retail properties throughout North America. Mr. Green is also a founding partner and President of Centrecorp Management Services Limited, a retail/commercial real estate service provider with operations in both Canada and the United States. Mr. Green was formerly a member of the board of directors and investment committee of Centrefund Realty Corporation and Sterling Centrecorp Inc., both TSX-listed real estate companies. Mr. Green resides in Toronto, Ontario and is a graduate of the University of Toronto, where he obtained both a Bachelor of Science Degree (in 1974) as well as a Bachelor of Laws Degree (in 1977).

Peter Lynch, BSc, Director

Mr. Lynch joined the board in May, 2014. He is a director of NYSE-listed Retail Properties of America, Inc. of Oak Brook, Illinois, a real estate investment trust; he is also Chair of its Nominating and Corporate Governance Committee and member of its Compensation Committee. Mr. Lynch also serves on the Board of Advisors of Sid Wainer & Son, a private produce and specialty foods company based in New Bedford, Mass. and is a Trustee for Nichols College in Dudley, Mass. From 2004 until 2012 he was Chairman, President and Chief Executive Officer of Winn-Dixie Stores Inc., a private, Florida-based retailer with 500 grocery stores, 150 liquor stores and 280 in-store pharmacies throughout the five southeastern states of Alabama, Florida, Georgia, Louisiana and Mississippi. Before that he was President and Chief Operating Officer and Executive Vice President-Operations with Boise, Idaho-based Albertson's, Inc., one of the largest national U.S. retail food and drug chains, comprised of 2,500 stores. Mr. Lynch graduated from Nichols College in Dudley, Mass. in 1974 with a Bachelor of Science Degree in Finance.

David B. Margolus, Q.C., BA, LLB, ICD.D, Director

Mr. Margolus joined the board in August, 2004. He is Counsel to, and former Managing Partner (for 13 years) of, the Edmonton-based law firm Witten LLP. His legal practice focused primarily in the areas of corporate, commercial and real estate. Mr. Margolus was one of the founding shareholders of The Liquor Depot Corporation (a predecessor to Liquor Stores). Mr. Margolus previously served on the boards of various public and private companies including TSX-listed PowerComm Inc. of Edmonton, Alberta, TSX-listed XS Cargo Income Fund of Edmonton, and the Edmonton Regional Airports Authority. In addition, Mr. Margolus has acted as legal counsel to Alberta Liquor Store Association. In 2009, he completed the Directors Education Program of the Institute of Corporate Directors. Mr. Margolus is a graduate of the University of Alberta where he obtained both a Bachelor of Arts Degree (in 1971) as well as a Bachelor of Laws Degree (in 1974).
 

Harry Taylor, Director

Mr. Taylor is Executive Vice President, Finance & Chief Financial Officer of WestJet Airlines Ltd. Mr. Taylor has previously served in the United States and Canada in executive level positions with three of North America's pre-eminent retailers; Canadian Tire, Holt Renfrew, and The Home Depot. In addition to his previous role as Senior Vice President, Finance at Canadian Tire, Mr. Taylor also served as Chief Operating Officer at Mark's (formerly Mark's Work Warehouse, a subsidiary of Canadian Tire). Mr. Taylor intends to step down from Liquor Stores' Board at the AGM on June 20, 2017.

David Gordey, Executive Vice President and Chief Operating Officer, Canada

Mr. Gordey was promoted to Executive Vice President and Chief Operating Officer, Canada in July 2016. Mr. Gordey previously served as Senior Vice President and Chief Financial Officer since April 2014, after joining Liquor Stores in March 2012 as Vice President Finance. He is a Chartered Accountant, formerly of KPMG LLP (Edmonton) where he was a Senior Manager in their public company audit group leading multi-functional teams and supporting clients with their securities transactions.

Steve Rop, Executive Vice President and Chief Operating Officer, United States

Mr. Rop was promoted to Executive Vice President and Chief Operating Officer, United States in July 2016 after serving as Senior Vice President, Supply Chain, Logistics and Planning since March 2014. Steve joins Liquor Stores from Liquidity Services Inc. (LSI), where he most recently served as Vice President, Client Services and Business Development. In that role, Steve was responsible for designing, implementing and managing transformative supply chain and operational improvement solutions for Fortune 500 companies. Prior to joining LSI, Steve gained valuable industry experience as Director of Global Supply Chain for Total Wine and More.

Lieske Renz, Senior Vice President, Human Resources

Ms. Renz joined the Company as Senior Vice President, Human Resources in March 2014. She was most recently with YUM Restaurants International (YRI) where she served as Senior Director, Human Resources. YRI manages KFC, Pizza Hut and Taco Bell in 123 countries via 20 business units comprised of both franchise and corporate ownership models, representing more than 14,000 restaurants and 350,000 employees. Prior to joining YUM, Lieske held several progressive positions for Swissôtel Management Corporation, Sheraton Premiere, and the Ritz Carlton.

Matthew Rudd, Senior Vice President and Chief Financial Officer

Mr. Rudd assumed the role of Senior Vice President, Chief Financial Officer in July 2016. He previously served as the Company's Vice President, Finance after joining the Company in October 2014. Mr. Rudd is a Chartered Accountant formerly of KPMG LLP (Edmonton).

Jim Yaworski, Senior Vice President, Construction and Design

Mr. Yaworski joined Liquor Stores in 2008, and is responsible for overseeing the construction and renovation of the Company’s new and existing stores. Prior to joining Liquor Stores, Mr. Yaworski was a Project Manager at Sobeys specializing in store construction and design.