Mr. Joe Racanelli reports

AIMIA FILES APPLICATION TO CAPITAL MARKETS TRIBUNAL IN RESPONSE TO ACTIVIST BREACH OF ONTARIO SECURITIES LAW

Aimia Inc. has filed an application with the Capital Markets Tribunal (CMT), a division of the Ontario Securities Commission, requesting an order declaring that Mithaq Capital SPC breached Ontario securities law and directing Mithaq to comply with National Instrument 62-104 -- Take-over Bids and Issuer Bids.

As set out in Aimia's application, as a result of prior trading activity by Mithaq and its joint actors, Mithaq ought to have made a takeover bid to all holders of common shares of Aimia at a price of $4.13 per common share, well in excess of the $3.66 offered in the hostile tender offer commenced by Mithaq on Oct. 5, 2023.

A preliminary hearing of the CMT has been scheduled for Feb. 15, 2024, at 9:30 a.m. to discuss the scheduling of the application.

The special committee of Aimia's board of directors has not yet made a determination on the adequacy of any offer that Mithaq may be required to make as a result of the application. Aimia's board of directors continues to recommend the rejection of Mithaq's undervalued offer of $3.66 per common share. Any subsequent offer to acquire Aimia shares will be evaluated if and when it is received.

Advisers

Norton Rose Fulbright Canada LLP is acting as legal counsel to Aimia. Kingsdale Advisors is acting as strategic shareholder adviser to Aimia.

About Aimia Inc.

Aimia is a holding company that makes long-term investments in private and public businesses through controlling or minority stakes. Aimia 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, Aimia seeks investments that may efficiently utilize the company's operating and capital loss carry-forwards to further enhance shareholder value.

We seek Safe Harbor.