Mr. Phil Mittleman reports

AIMIA ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Aimia Inc. has closed its previously announced private placement by strategic investors of 10,475,000 Aimia common shares, together with 10,475,000 common share purchase warrants, for total gross proceeds of $32.5-million. The company intends to use the net proceeds of the private placement to finance its operations over the next 12 to 24 months and support its strategic investment plans and other contingencies.

The issue price of each common share and accompanying warrant is $3.10, with a $3.70 warrant exercise price. The warrants are subject to customary anti-dilution provisions, are exercisable immediately and expire five years from the date of issuance. The common share and accompanying warrant issue price and the warrant exercise price represent premiums of 2.4 per cent and 22.3 per cent, respectively, over the five-day volume-weighted average trading price of the common shares on the Toronto Stock Exchange on Sept. 14, 2023 (being the last trading day prior to the date the parties entered into a non-binding term sheet), and represent a $3.40 blended price per common share assuming the private placement is fully subscribed and all warrants are exercised.

The common shares issued on closing of the private placement and the common shares issuable on exercise of the warrants are subject to a six-month lock-up period from the date of closing of the private placement, with customary carveouts including the ability to tender to a bona fide takeover bid. No voting trust or similar agreement has been or will be entered into in connection with the private placement.

Concurrent with this transaction, Thomas Finke and Yannis Skoufalos have been appointed to Aimia's board of directors. Mr. Finke has been named chairman of the board.

Phil Mittleman, chief executive officer of Aimia, remarked: "We are delighted with the successful completion of this private placement. This investment underscores the confidence investors have in Aimia's underlying value, strategic direction and future prospects. We are proud to welcome Thomas and Yannis as new Aimia board members, who bring substantial experience, expertise and share ownership while increasing the number of independent board members. This enriches the overall skills matrix of our board and provides strong support for the ongoing execution of Aimia's growth strategy."

About Aimia Inc.

Aimia (Toronto Stock Exchange: AIM) is a holding company that makes long-term investments in private and public businesses through controlling or minority stakes. It targets companies with durable economic advantages evidenced by a record of substantial free cash flow generation over complete business cycles and strong growth prospects and guided by strong, experienced management teams. Headquartered in Toronto, Canada, Aimia is positioned to invest in any sector, wherever a suitable opportunity can be identified worldwide. In addition, it seeks investments that may efficiently utilize the company's operating and capital loss carry-forwards to further enhance stakeholder value.

We seek Safe Harbor.