An anonymous director reports

CHORUS ANNOUNCES SATISFACTION OF REGULATORY CONDITIONS TO THE SALE OF ITS REGIONAL AIRCRAFT LEASING SEGMENT

All regulatory conditions to completion of the previously announced sale of Chorus Aviation Inc.'s regional aircraft leasing segment have been satisfied.

"The fulfilment of all regulatory conditions for the sale of Chorus's regional aircraft leasing segment is a key milestone towards the completion of this transaction. We thank everyone involved for the continued collaboration as we move towards a successful completion," said Colin Copp, president and chief executive officer of Chorus. "This transaction will serve as a catalyst to accelerate value creation for our shareholders while providing us with the financial flexibility for future growth."

The remaining conditions to completion of the transaction are set out in the sale and purchase agreement dated July 30, 2024, which is available under Chorus's profile on SEDAR+. Completion of the transaction is expected by the end of 2024.

About Chorus Aviation Inc.

Chorus is a global aviation solutions provider and asset manager, focused on regional aviation. The company's current principal subsidiaries are: Falko Regional Aircraft, the leading pure play regional aircraft asset manager and lessor, managing investments on behalf of third party fund investors; Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry-leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus's subsidiaries provide services that encompass every stage of a regional aircraft's life cycle, including: aircraft acquisition and leasing; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning; and pilot training.

Chorus's Class A variable voting shares and Class B voting shares trade on the Toronto Stock Exchange under the trading symbol CHR. Chorus's 5.75 per cent senior unsecured debentures due Dec. 31, 2024, 6.00 per cent convertible senior unsecured debentures due June 30, 2026, and 5.75 per cent senior unsecured debentures due June 30, 2027, trade on the TSX under the trading symbols CHR.DB.A, CHR.DB.B and CHR.DB.C, respectively.

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