Mr. Joe Racanelli reports

AIMIA ANNOUNCES CLOSING OF BOZZETTO SALE AND OFFER TO PURCHASE 9.75% SENIOR NOTES

Aimia Inc. has confirmed the closing of its previously announced sale of its interest in Giovanni Bozzetto SpA for net proceeds of $268.4-million.

Closing details:

• Net proceeds were determined by taking into consideration the payment of Bozzetto's net debt, minority interests and transaction costs.
• Net proceeds are subject to final working capital adjustments and net debt calculations within 60 days of closing.
• Aimia received the net proceeds in euros, of which 128 million euros were hedged at a rate of 1.6113 and the remaining 38.7 million euros were accounted at the spot rate of 1.6074 at closing.
• Aimia does not expect to incur any taxes from the transaction given its capital tax loss carryforward.
• Aimia acquired its interest in Bozzetto in May, 2023.

"Closing the sale Bozzetto marks further progress towards our plan of becoming a permanent capital vehicle," said Rhys Summerton, Aimia's executive chairman. "It will allow us to now accelerate our plans to reduce Aimia's indebtedness and make investments in undervalued companies with the goal of acquiring controlling interests."

Offer to purchase 9.75 per cent senior notes

In accordance with the terms of its 9.75 per cent senior unsecured notes, Aimia is required, following the sale of more than 50 per cent of its property or assets, to offer to purchase the maximum aggregate principal amount of all outstanding senior notes at an offer price equal to 100 per cent of the aggregate principal amount of each senior note to be redeemed, plus any accrued and unpaid interest up to, but excluding, the redemption date subject to available proceeds resulting from the asset sale. Accordingly, since the Bozzetto transaction constitutes an asset sale and the net proceeds are sufficient to redeem all of the outstanding senior notes, Aimia has commenced an offer to purchase up to all of its senior notes with an aggregate principal amount of $142.6-million due Jan. 14, 2030.

The offer will expire at 5 p.m. Eastern Time on June 26, 2026. The consideration for the notes shall be $100 for each $100 principal amount of notes, plus all accrued and unpaid interest on the notes to but excluding July 3, 2026.

Notes tendered pursuant to the offer will cease to accrue interest on and after the redemption date. Holders are eligible to elect to accept the offer by instructing their broker or other nominee to accept the offer before its deadline and may withdraw their election at any time prior to the expiration date. Notes not tendered in the offer will remain outstanding and shall continue to accrue interest in accordance with their terms.

A notice of redemption with respect to the offer will be delivered to noteholders of record with instructions on how to tender their senior notes.

The senior notes were issued to holders of the company's preferred shares in consideration for their preferred shares as part of a substantial issuer bid closed in February, 2025.

Neither Aimia nor its board of directors makes any recommendations to noteholders as to whether to accept the offer. Noteholders are urged to consult their own financial, tax and legal advisers, and to make their own decisions with respect to the surrender of their senior notes pursuant to the offer.

About Aimia Inc.

Aimia is a diversified conglomerate focused on enhancing the value of its holdings. Headquartered in Toronto, Aimia has priorities that include increasing its intrinsic value, reducing holding company costs, reducing the discount of its share price to the intrinsic value of its businesses and redeploying capital to make investments in undervalued companies.

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