An anonymous director reports

CHORUS AVIATION ANNOUNCES FILING OF CIRCULAR FOR SPECIAL MEETING OF SHAREHOLDERS

Chorus Aviation Inc. has filed its management proxy circular in connection with its coming special meeting of holders of Class A variable voting shares and Class B voting shares. The circular is available under Chorus's profile on SEDAR+.

The meeting will take place on Feb. 4, 2025, at 11 a.m. Eastern Time, in virtual-only format and is being held to seek shareholder approval of a special resolution for a proposed consolidation of the shares. If approved and implemented, the consolidation would be carried out on the basis of a ratio within a range of one postconsolidation share for every five to 10 preconsolidation shares, with the exact ratio to be determined by Chorus's board of directors.

Shareholders of record as of the close of business on Dec. 23, 2024, are entitled to receive notice of, and to participate in and to vote their shares at, the meeting. To be approved, the special resolution must be passed by at least two-thirds of the votes cast by shareholders at the meeting. If the special resolution is approved, the board will have discretion, for a period of one year following the meeting, to determine the exact consolidation ratio and timing of the consolidation, including to not proceed with the consolidation. The consolidation is also subject to the approval of the Toronto Stock Exchange.

Details of the meeting and how shareholders or their duly appointed proxyholders can attend and participate in the meeting are set out in the circular. Shareholders are encouraged to carefully review the circular, which is available on Chorus's website under "Investors -- Reports" and under Chorus's profile on SEDAR+.

Shareholders who have any questions or require more information with regard to the procedures for voting may contact Shorecrest Group Ltd., Chorus's proxy solicitation agent, toll-free in North America at 1-888-637-5789 or collect call from outside of North America at 1-647-931-7454, or by e-mail at contact@shorecrestgroup.com.

About Chorus Aviation Inc.

Chorus is a Canadian company focused on aviation service businesses. Its operating subsidiaries are: 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 an 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 Class A variable voting shares and Class B voting shares trade on the Toronto Stock Exchange under the trading symbol CHR. Chorus 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 Toronto Stock Exchange under the trading symbols CHR.DB.B and CHR.DB.C, respectively.

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