Mr. Phil Mittleman reports

AIMIA ANNOUNCES CLOSING OF STARCHEM TRANSACTION

Aimia Inc.'s Bozzetto Group subsidiary has closed the previously announced acquisition of 65 per cent of StarChem SA for $24-million, with a potential earnout of $12-million. The purchase price was financed entirely from Bozzetto's existing credit facility and Bozzetto's cash on hand. The executive management team of StarChem will retain a collective minority stake of 35 per cent. StarChem, headquartered in San Pedro Sula, Honduras, is a leading manufacturer of specialty chemical solutions used primarily in preparation, dyeing and finishing processes by its large, multinational textile industry customers. All figures are in Canadian dollars unless otherwise stated and are subject to change due to currency fluctuations.

Established in 2007, StarChem operates two production facilities in Honduras. These facilities have a total installed production capacity of approximately 20,000 metric tonnes per year, with potential for expansion. StarChem is expected to generate approximately $47-million in revenue for the fiscal year ending Dec. 31, 2023, and achieve an EBITDA (earnings before interest, taxes, depreciation and amortization) margin of approximately 12 per cent. Honduras is one of the world's largest textile markets, with a focus on cotton production for some of the largest U.S. textile manufacturers, including StarChem customers such as Fruit of the Loom, Hanes and Gildan. Bozzetto's acquisition of StarChem expands its geographical presence into the Americas, fulfilling a key element of its growth strategy.

Phil Mittleman, chief executive officer of Aimia, commented: "The addition of StarChem to our portfolio underscores our commitment to growth and excellence in the specialty chemicals sector. StarChem's manufacturing expertise and strong market presence in the Americas are key to Bozzetto's strategic expansion plans in North America."

Roberto Curreri, CEO of Bozzetto, said: "Our acquisition of StarChem marks a significant milestone in our over 100-year history. Having closely worked with StarChem during our multiyear partnership, we are excited and confident about the synergy and potential this integration brings. StarChem's well-established customer relationships and production capacity are integral to Bozzetto's strategic growth, especially in the North American market."

About Aimia Inc.

Aimia 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, 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.

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