Mr. Tom Finke reports

AIMIA COMMENTS ON TERMINATION OF UNSOLICITED TENDER OFFER BY ACTIVIST INVESTOR

Aimia Inc. has provided a response to the announcement made by Mithaq Capital that it has terminated its unsolicited tender offer.

"We are pleased that shareholders rejected the activist tender bid offer, making it clear that it substantially undervalued the company," said Tom Finke, Aimia's executive chairman. "Despite taking a number of measures to gain control of the company, Mithaq has failed at every turn, largely because their actions have been, and would continue to be, disruptive to Aimia and shareholders. We expect to build on this strong support from shareholders as we continue to execute on our strategy to grow the value of our core portfolio companies and monetize our minority investments opportunistically."

Over the past year, Aimia accelerated its transformation into a holding company with the acquisitions of Bozzetto, a specialty chemicals provider, and Cortland International, a global manufacturer of high-performance ropes and netting solutions. These industrial companies, which were acquired at a combined value of $457-million, serve as the core assets in Aimia's portfolio of investments.

Aimia's commitment to grow the value of these core assets was reflected in subsequent tuck-in acquisitions that each company completed this past year, enabling each to expand its market presence in North America and grow its base of global customers. Specifically, Bozzetto closed the acquisition of Starchem SA, a producer of speciality chemicals for the textile industry, in the first quarter of 2024. Tufropes, prior to its rebranding as Cortland International, acquired Cortland Industrial, a manufacturer of synthetic ropes, in 2023.

Mr. Finke added: "In our upcoming fourth-quarter reporting, we will expand on the progress made by our core portfolio companies and outline steps we have taken to opportunistically monetize the value of our other investments. My expectation for this report is to provide investors with increased transparency on our performance and greater insight into the operations of our portfolio companies."

Details on the timing of the company's fourth-quarter disclosure will be announced separately.

Aimia's corporate governance and shareholder meetings

Aimia disagrees with the comments made by Mithaq in its Feb. 16, 2024, press release with respect to the company's corporate governance and shareholder meetings.

As it has in the past, Aimia invites all its shareholders to communicate directly with the company to discuss its strategy, governance and performance.

Mr. Finke concluded: "Aimia has and will continue to prioritize good governance and carry out our duties in the best interest of all shareholders. We will also continue to prioritize transparency, including providing regular updates on business and governance matters."

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.