Mr. Colin Copp reports

CHORUS AVIATION INC. INITIATES QUARTERLY DIVIDEND

Chorus Aviation Inc. has declared a cash dividend of eight cents per Class A variable voting and Class B voting share, payable on Aug. 15, 2025, to shareholders of record at the close of business on July 31, 2025.

Chorus intends to declare future quarterly cash dividends in the amount of eight cents per share concurrent with the announcement of its quarterly earnings reports, starting with the third quarter 2025 earnings release, currently scheduled to occur on Nov. 6, 2025.

Colin Copp, president and chief executive officer, Chorus, stated: "Today's announcement of a dividend is a further concrete step we have taken to enhance shareholder value -- in addition to debt reduction and share buybacks -- since the sale of our regional aircraft leasing business last year.

"Management is focused on growing Chorus's earnings and cash flows over time and aims to distribute approximately 25 per cent of Chorus's free cash flow (1) after debt repayments as dividends to shareholders. This reflects our commitment to delivering value to our shareholders while investing in future growth," said Mr. Copp.

"Our first quarter leverage ratio (1) of 1.6 times is well within our target range of 1.0 times to 2.0 times, and we have $200-million in available credit facilities. While returning capital to shareholders, we are now also actively pursuing growth opportunities and positioning Chorus for the future," Mr. Copp concluded.

This dividend is an eligible dividend in Canada. It may also be considered a qualified dividend from a U.S. tax perspective; however, shareholders should consult their tax adviser to confirm the treatment of the dividend under U.S. tax laws.

About Chorus Aviation Inc.

Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional operator in Canada and the 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: contract flying, aircraft refurbishment, engineering, modification, repurposing and transition; aircraft and component maintenance, disassembly and parts provisioning; aircraft acquisition and leasing; 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 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.

(1) Free cash flow and leverage ratio are non-generally accepted accounting principle financial measures or ratios that are not recognized measures for financial statement presentation under GAAP. As such, they do not have standardized meanings, may not be comparable with similar measures presented by other issuers, and should not be considered a substitute for or superior to GAAP results. For further information regarding these non-GAAP measures, please refer to Section 17 (Non-GAAP Financial Measures) of management's discussion and analysis of results of operations and financial condition dated May 6, 2025, which is available under Chorus's profile on SEDAR+.

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