Mr. Francis Richer de La Fleche reports

BOMBARDIER ANNOUNCES LAUNCH OF ITS NEW ISSUANCE OF SENIOR NOTES DUE 2030

Bombardier Inc. has launched an offering of $500-million (U.S.) aggregate principal amount of new senior notes due 2030.

Bombardier intends to use the proceeds of the offering of the new notes, together with cash on hand: (i) to finance the redemption (the 2025 note redemption) of all of its outstanding 7.50 per cent senior notes due 2025, of which there is $380-million aggregate principal amount outstanding on the date hereof; (ii) to finance the offers to purchase up to $110-million aggregate purchase amount (exclusive of accrued and unpaid interest) of its outstanding 7.125 per cent senior notes due 2026 and 7.875 per cent senior notes due 2027, of which there is $1.2-billion aggregate principal amount outstanding of the 2026 notes and $1,892-million aggregate principal amount outstanding of the 2027 notes on the date hereof, and/or for the repayment of other indebtedness; and (iii) for the payment of accrued interest and related fees and expenses.

Consummation of the offering of the new notes, the 2025 note redemption and the 2026/2027 tender offer are subject to market and other conditions, and there can be no assurance that Bombardier will be able to successfully complete these transactions on the terms described herein or at all. The 2025 note redemption and the 2026/2027 tender offer are subject to certain conditions, including the completion of the offering of the new notes prior to Dec. 6, 2023, as it relates to the 2025 note redemption and prior to Nov. 24, 2023, as it relates to the 2026/2027 tender offer.

The new notes mentioned herein may be offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the U.S. Securities Act and outside the United States in reliance on Regulation S under the U.S. Securities Act. The new notes mentioned herein have not been and will not be qualified for distribution to the public under applicable Canadian securities laws, and, accordingly, any offer and sale of the securities in Canada will be made on a basis that is exempt from the prospectus requirements of such securities laws. The new notes will be offered and sold in Canada on a private placement basis only to accredited investors pursuant to certain prospectus exemptions.

We seek Safe Harbor.