Mr. Mike Pyle reports

EXCHANGE INCOME CORPORATION'S SUBSIDIARY, KEEWATIN AIR, AWARDED THE FIXED WING CRITICAL CARE MEDEVAC CONTRACT FOR THE PROVINCE OF MANITOBA

Exchange Income Corp.'s subsidiary, Keewatin Air LP, was the successful bidder to provide critical care fixed-wing medevac coverage for the Province of Manitoba.

The tendered 10-year contract requires a fleet of five planes which will be a combination of jet and turbo prop aircraft. It follows a 10-year contract awarded last month by the Province of British Columbia to Exchange Income's subsidiary Carson Air to provide fixed-wing medevac coverage.

"EIC is excited to continue expanding our medevac business. These two contracts speak to the quality of and confidence placed in our medevac services," said Mike Pyle, chief executive officer of Exchange Income. "The aircraft are in the process of being acquired and modified with state-of-the-art medical interiors and will be phased into service commencing at the end of the first quarter of 2024," explained David White, CEO of Keewatin Air.

Mr. Pyle concluded by saying: "Our medevac operations are a capability we have invested considerable capital and accumulated industry-leading experience over the last five decades to become the market leaders in Canada. Based on our proficiency in this industry and the consistent demand, it is a business line we have sought to expand. With the recent contract awards in Manitoba and British Columbia, and our existing medevac contracts in Nunavut, Alberta, Newfoundland and Nova Scotia, our footprint is truly national with operations spanning from coast to coast to coast."

About Exchange Income Corp.

Exchange Income is a diversified acquisition-oriented company, focused in two sectors: aerospace and aviation services and equipment, and manufacturing. The corporation uses a disciplined acquisition strategy to identify already-profitable, well-established companies that have strong management teams, generate steady cash flow, operate in niche markets and have opportunities for organic growth.

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