Mr. Mark Miller reports

SABRE AND CONSTELLATION SOFTWARE ENTER INTO STRATEGIC GOVERNANCE AGREEMENT

Sabre Corp., a leading global travel technology company, and Constellation Software Inc., a beneficial owner of approximately 12.7 per cent of Sabre's outstanding shares, following constructive discussions, have entered into a strategic governance agreement. In connection with the agreement, Sabre will appoint Damian McKay, chief executive officer of Vela Software Group, an operating group division of Constellation, to its board of directors.

Kurt Ekert, president and chief executive officer of Sabre, commented: "We are pleased to reach this agreement with Constellation, which validates the progress we've made to sharpen our focus toward ushering in the next age of travel, underpinned by new and underpenetrated growth opportunities. We look forward to continuing to build a productive partnership together that focuses on long-term growth, durable returns and accelerating innovation across the travel ecosystem."

Gail Mandel, chair of Sabre's board of directors, commented: "We are pleased to welcome Damian to the Sabre board. Damian is an experienced leader who brings a deep understanding of vertical market software businesses and the complex industries that they support. His perspective and relevant expertise will be valuable as Sabre continues to execute on our strategic priorities."

Mark Miller, president of Constellation Software, commented: "Sabre is a great company in a highly attractive market. Global travel continues at record levels, and our investment in Sabre reflects our confidence in the company. We are pleased to work with the Sabre board and management team as a minority investor and long-term strategic partner."

Mr. McKay commented: "I am excited to join the Sabre board. I am committed to contributing my experience to support Sabre's continued success in delivering value to clients and shareholders."

The terms of the strategic governance agreement will be filed as an exhibit to a Form 8-K with the U.S. Securities and Exchange Commission. In connection with the agreement, the Sabre board will terminate the company's shareholder rights plan that was announced on March 1, 2026.

About Damian McKay

Mr. McKay currently serves as CEO of Vela Software Group, an operating group division of Constellation Software that acquires, manages and builds vertical market software businesses globally. Mr. McKay joined Vela in 2015 through its acquisition of Datamine, where he had served as CEO since 2012 and continued to serve as CEO until assuming his current role in 2020. Prior to Datamine, Mr. McKay served as general manager of energy services for Australia and New Zealand at GE Energy, a division of General Electric at the time. Prior to GE Energy, Mr. McKay held sales roles at energy retailer AGL Power and electric utility companies CitiPower and Powercor in Australia. Mr. McKay currently serves as a member of the Constellation Software advisory board and on the board of directors of several private subsidiaries of Constellation Software and Vela Software. Mr. McKay holds a bachelor of business from RMIT and a graduate diploma in applied finance and investment from the Securities Institute of Australia.

About Constellation Software Inc.

Constellation's common shares are listed on the Toronto Stock Exchange under the symbol CSU. Constellation acquires, manages and builds vertical market software businesses.

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