An anonymous director reports

CHORUS ANNOUNCES COMPLETION OF PURCHASES PURSUANT TO ITS OFFERS FOR ITS SERIES B DEBENTURES AND SERIES C DEBENTURES

Chorus Aviation Inc. has completed the purchase of its previously announced offers to purchase any and all of the outstanding 6.00 per cent convertible senior unsecured debentures due June 30, 2026, and 5.75 per cent senior unsecured debentures due June 30, 2027 (Cusip No. 17040TAE2 and No. 17040TAG7, respectively).

Chorus purchased for cancellation a total of $43,773,000 aggregate principal amount of Series B debentures and a total of $37,797,000 aggregate principal amount of Series C debentures.

The principal amount of Series B debentures purchased pursuant to the change of control offers represents approximately 60 per cent of the outstanding aggregate principal amount of Series B debentures at the time that the change of control offers were commenced, and, after giving effect to the purchase of such Series B debentures for cancellation, approximately $28,727,000 aggregate principal amount of Series B debentures remains outstanding. The principal amount of Series C debentures purchased pursuant to the change of control offers represents approximately 44 per cent of the outstanding aggregate principal amount of Series C debentures at the time that the change of control offers were commenced, and, after giving effect to the purchase of such Series C debentures for cancellation, approximately $47,203,000 aggregate principal amount of Series C debentures remains outstanding.

Chorus will, in addition to other redemption rights set out in the relevant indentures, retain the ability to redeem any remaining Series B debentures at any time on and after June 30, 2025, at the principal amount plus accrued and unpaid interest thereon, and the Series C debentures at any time on and after March 31, 2026, at the principal amount plus accrued and unpaid interest thereon.

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's Series B debentures and Series C debentures trade on the Toronto Stock Exchange under the trading symbols CHR.DB.B and CHR.DB.C, respectively.

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