Mr. Turki AlRajhi of Mithaq reports

MITHAQ CONFIRMS INTENTION TO ACQUIRE ADDITIONAL AIMIA SHARES

Mithaq Capital SPC, the largest shareholder of Aimia Inc., has confirmed that, further to its previous disclosure, it intends to acquire additional common shares of Aimia following Aimia's undertaking to the Ontario Securities Commission's Capital Markets Tribunal to repeal its shareholder rights plan filed on Dec. 7, 2023.

"By acquiring additional common shares in this way, we will bring ourselves closer to our goal of taking Aimia private in a transaction that will benefit all Aimia shareholders," said Turki Saleh A. AlRajhi, chairman and chief executive officer of Mithaq Canada Inc., a wholly owned subsidiary of Mithaq. "The best way forward for Aimia and its long-suffering investors remains for shareholders to tender their shares to Mithaq's premium, all-cash takeover offer of $3.66 per common share."

In light of Aimia's undertaking and in connection with the offer made by the offeror to purchase for $3.66 per common share all of the issued and outstanding common shares not already owned by the offeror and its affiliates, Mithaq confirms that in advance of the expiry of the offer, it intends to purchase up to 4,208,230 additional common shares, representing 5 per cent of the outstanding common shares as of Oct. 5, 2023, the date that the offer was commenced.

Any purchases will be made in compliance with the requirements under Section 2.2(3) of National Instrument 62-104 (Take-Over Bids and Issuer Bids), with details of any such purchases being announced on the day they are completed. Assuming all 4,208,230 additional common shares are purchased and the number of issued and outstanding common shares remains the same as today, Mithaq's interest in Aimia would increase to 31.98 per cent.

The premium, all-cash takeover offer

The offeror commenced the premium, all-cash offer and filed a takeover bid circular and related documents with the securities regulatory authorities in Canada on Oct. 5, 2023.

Shareholders are urged to read the Mithaq circular and the notice of variation filed thereto on Nov. 28, 2023, as they contain important information, including the terms and conditions of the offer and the procedures for depositing common shares. Additional information about the offer or copies of the Mithaq circular and the first notice of variation and related documents may be obtained without charge on request from Carson Proxy Advisors. The Mithaq circular and related documents filed by the offeror are also available on SEDAR+.

How to tender

Shareholders are encouraged to tender their common shares and realize immediate liquidity for their investment. If common shares are held by a broker or other financial intermediary, shareholders should contact that intermediary and instruct it to tender their common shares. If common shares are held in registered form, shareholders should complete the letter of transmittal included in the documents mailed to them by the offeror.

For shareholders whose certificate(s) or direct registration system statement(s) is not immediately available or who cannot deliver the certificate(s) or DRS statement(s) and all other required documents to Olympia Trust Company prior to the expiry time, they may accept the offer by properly completing and duly executing a notice of guaranteed delivery and returning it to Olympia Trust Company as specified in the notice of guaranteed delivery.

Shareholders with questions or in need of assistance accepting the offer can contact Carson Proxy Advisors by telephone at 1-800-530-5189 (North American toll-free number) or 416-751-2066 (outside of North America) or by e-mail at info@carsonproxy.com.

About Mithaq Capital SPC

Mithaq is the largest shareholder of Aimia, holding 26,059,000 common shares, representing approximately 27.53 per cent of the issued and outstanding common shares. Mithaq is a segregated portfolio company and an affiliate of Mithaq Holding Company, a family office based in Saudi Arabia with investments in public equities, real estate, private equity and income-producing assets in local and international markets.

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