An anonymous director reports

CHORUS ANNOUNCES REDEMPTION OF ITS REMAINING 6.00% CONVERTIBLE SENIOR UNSECURED DEBENTURES DUE JUNE 30, 2026

Chorus Aviation Inc. will redeem on Sept. 30, 2025, all of its remaining 6 per cent convertible senior unsecured debentures due June 30, 2026, in accordance with the terms of the indenture dated April 6, 2021, between Chorus and Computershare Trust Company of Canada, as amended by a supplemental indenture thereto, pursuant to which the Series B debentures were issued. The Series B debentures are listed on the Toronto Stock Exchange under the symbol CHR.DB.B.

On the redemption date, holders of Series B debentures will (unless converted prior to the redemption date in accordance with the indenture) receive approximately $1,015 for each $1,000 principal amount of Series B debentures, representing their principal amount, plus all accrued and unpaid interest thereon to but excluding the redemption date. The Series B debentures will cease to bear interest from and after the redemption date. Formal notice of the redemption is being delivered today to the trustee and holders of the Series B debentures in accordance with the terms of the indenture.

Holders of Series B debentures have the right, by giving a conversion notice and all necessary documentation to the trustee by no later than 5 p.m. Toronto time on Sept. 8, 2025, to elect to convert their Series B debentures into Class A variable voting shares or Class B voting shares of Chorus at the conversion price in effect on the date of conversion in accordance with the terms of the indenture. In circumstances where Series B debentures are held through a broker or other financial institution, the broker or financial institution should be contacted well in advance of the conversion deadline to ensure sufficient time to comply with the conversion process and internal deadlines set by the broker or financial institution. No action is required to be taken by holders who wish to have their Series B debentures redeemed in cash.

The aggregate principal amount of Series B debentures outstanding as of the date hereof is $28,727,000. Chorus will use cash on hand to finance the redemption.

About Chorus Aviation Inc.

Chorus is a holding company that owns the following principal operating subsidiaries: 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: 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 TSX under the trading symbol CHR. Chorus's 6 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.B and CHR.DB.C, respectively.

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