Mr. Michael Rousseau reports

AIR CANADA ANNOUNCES RETIREMENT OF AMOS KAZZAZ, EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER

Air Canada's Amos Kazzaz, executive vice-president and chief financial officer, will retire on June 30, 2023. Mr. Kazzaz will be succeeded by John Di Bert, who has an aviation background and is currently chief financial officer of Clarios International Inc.

"During his 13-year career at Air Canada, Amos has held the two most senior financial roles, and has made a tremendous contribution to the overall success of our company. He has been a strong partner to me and a positive representative of Air Canada to many external stakeholders," said Michael Rousseau, president and chief executive officer of Air Canada.

"Helped by Amos's guidance and decisions, Air Canada has made material progress in many areas, including fleet management, cost reduction and efficiency, and business and strategic planning and execution. He also played a leadership role in strengthening our balance sheet and cash flow, positioning us to withstand COVID's impact and ensure we had the resilience to spring back quickly by allowing us to invest for our future growth. Almost as much as his financial and leadership skills, his sense of humour, energy level and commitment will be missed by everyone at Air Canada, who all join me in wishing Amos a long, happy retirement."

New CFO announced

Mr. Rousseau further stated: "I am pleased to also announce that John Di Bert will be our new executive vice-president and chief financial officer, effective July 1. John has extensive experience in both aerospace and senior leadership roles. He has served as CFO for both Bombardier and Pratt & Whitney Canada. He also brings varied and extensive experience, as during his career he has managed total enterprise performance, executed M&A [merger and acquisition] strategies, undertaken debt and equity capital markets transactions, and led strategic planning.

"We are excited to have attracted someone of his calibre to help lead Air Canada to realize its full potential following the pandemic. A native of Montreal, John will join Air Canada May 1 to allow for an effective transition. On behalf of all employees, I welcome John to Air Canada and look forward to working closely with him."

About Air Canada

Air Canada is Canada's largest airline, the country's flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and internationally on six continents. It holds a four-star ranking from Skytrax. Air Canada's Aeroplan program is Canada's premier travel loyalty program, where members can earn or redeem points on the world's largest airline partner network of 45 airlines, plus through an extensive range of merchandise, hotel and car rental rewards. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada's passenger and freighter aircraft. Air Canada has committed to a net-zero emissions goal from all global operations by 2050.