Mr. Roberto Curreri reports

AIMIA ANNOUNCES CLOSING OF BOZZETTO TRANSACTION

Aimia Inc. has closed the previously announced acquisition of Giovanni Bozzetto SpA. Bozzetto is one of the world's largest ESG-focused (environmental, social and governance) providers of specialty sustainable chemicals, serving over 1,500 clients with a portfolio of over 2,000 products. All amounts denominated in euros below have been translated at the closing date of May 9, 2023, at an exchange rate of 1.4685.

Phil Mittleman, chief executive officer of Aimia, said: "Today marks an important milestone for Aimia as we close our second acquisition since the sale of our PLM stake in the second half of last year. With over 100 years of operations, high EBITDA [earnings before interest, taxes, depreciation and amortization] margins, coupled with strong free cash flow conversion and a fantastic management team, Bozzetto represents an outstanding opportunity for Aimia to own one of the world's largest ESG-focused providers of specialty sustainable chemicals. Bozzetto, as well as our previously announced acquisition of Tufropes, will form the backbone of our strategy to continue to acquire businesses that generate significant cash flow for Aimia while presenting strong opportunities for further growth."

Aimia invested $206.3-million (140.5 million euros) for an equity stake of 94 per cent in the company. Bozzetto's executive management team invested $13.3-million (9.1 million euros) of its after-tax sales proceeds alongside Aimia into the new investment structure, which represents a minority position of approximately 6 per cent. Aimia completed the Bozzetto-related financing at the subsidiary level in the amount of $139.5-million (95.0 million euros) at closing, with a weighted average coupon rate of approximately 8.1 per cent (subject to change with Euribor). Transaction costs were $12.3-million (8.4 million euros) and debt financing fees were $6.8-million (4.6 million euros). Excluding the transaction costs of $12.3-million (8.4 million euros) and accounting for cash on hand of $14.2-million (9.7 million euros), the enterprise value at closing was $333-million (227 million euros), representing approximately seven times fiscal 2022 pro-forma adjusted EBITDA (earnings before interest, taxes, depreciation and amortization).

For the fiscal year 2022, Bozzetto reported revenue of $320.6-million (218.3 million euros) and adjusted EBITDA of $45-million (30.6 million euros). Including the recent Levaco transaction that closed at the end of the fiscal year 2022, pro-forma annual revenue would be $335.3-million (228.3 million euros) and adjusted EBITDA margin would be approximately 14 per cent.

Paladin Private Equity LLC collaborated with Aimia on this transaction. In connection thereto, upon closing of the transaction, Aimia and Paladin have entered into certain agreements on customary terms and conditions substantially as previously announced by Aimia on March 6, 2023.

Roberto Curreri, chief executive officer of Bozzetto, commented: "Bozzetto is driven by a passion for innovation in the specialty sustainable chemicals space. I'm excited to usher in the next phase of Bozzetto's journey under Aimia's stewardship. I'm confident that our partnership with Aimia will catalyze meaningful growth and opportunities for many years to come."

The Bozzetto financing was provided by Credit Agricole Italia SpA (acting as agent) and Intesa Sanpaolo SpA, both acting as joint global co-ordinator, mandated lead arrangers and bookrunners, and BPER Banca SpA and MPS Capital Services Banca per le Imprese SpA acting as mandated lead arrangers.

About Aimia Inc.

Aimia is a holding company with a focus on making long-term investments in private and public companies, on a global basis, through controlling or minority stakes. The company owns a portfolio of investments which include 100-per-cent ownership of Tufropes, a global leader in the manufacturing of high-performance synthetic fibre ropes and netting solutions for global aquaculture, maritime and other various industrial customers, 94-per-cent ownership of Bozzetto Group, one of the world's largest ESG-focused providers of specialty sustainable chemicals, a 10.85-per-cent stake in Clear Media Ltd., one of the largest outdoor advertising firms in China, and a 48.8-per-cent equity stake in Kognitiv, a global SaaS (software as a service) company inspiring customer loyalty through data-driven personalization, as well as an 11.8-per-cent equity stake in Trade X, a global B2B (business to business) cross-border automotive trading platform.

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