Mr. Mike Pyle reports

EXCHANGE INCOME CORPORATION AND THE GOVERNMENT OF NUNAVUT ENTER INTO LONG TERM AIR SERVICE AGREEMENT FOR THE ENTIRE TERRITORY OF NUNAVUT

Exchange Income Corp.'s wholly owned subsidiary Calm Air International LP and its newly acquired subsidiary Bradley Air Services Ltd., doing business as Canadian North, have entered into a long-term agreement with the government of Nunavut (GN) for the provision of medical travel, family services travel, duty travel and less-than-load air freight for all of Nunavut. These services are currently being provided by Calm Air in the Kivalliq region and Canadian North in the Kitikmeot and Qikiqtaaluk region. The agreement extends the provision of those services by Calm Air and Canadian North for 10 years with an option for the parties to extend the agreement for an additional five years, providing long-term stability to EIC's operations in Nunavut.

Although the scope of the services under the agreement remains the same, the tenor of the agreement is focused on collaboration, communication, adaptability to meet the needs of Nunavut and flexibility to address changes in the aviation industry. The agreement reflects the desire of the GN and EIC to work in partnership to achieve their mutual objective of providing enduring, stable and affordable air travel in Nunavut. As a further reflection of the deep partnership between EIC and the GN, EIC has granted the GN an option to purchase a significant minority of Canadian North. The option is exercisable for one year from the date of the agreement. If the GN exercises the option, the term of the agreement is automatically extended to 15 years.

"We are thrilled to be the GN's choice to provide long term air services to Nunavut, and it is reflective of the trusted and valued relationship we have with the GN. The North is a unique and challenging environment to operate in, but our airlines have been doing it successfully for over 50 years. It's what we do and do well," stated Mike Pyle, chief executive officer of EIC. He continued: "We understand the importance of air travel in Nunavut, the pivotal role the GN plays as its core customer, the long-term commitments that are required to be successful and the need to work in partnership with the communities which means investing in the communities and in their people. This is why over the years we have made significant investments in infrastructure in the communities, supported youth sporting events, annually bring community members to Winnipeg to attend the Winnipeg Blue Bomber game played in honour of the National Day for Truth and Reconciliation, and established the Atik Mason Indigenous Pilot Pathway in Rankin Inlet -- which we recently announced the doubling of its size in Nunavut in 2026. This long-term agreement provides significant stability of our operations in the North and allows EIC to continue to make these types of investments in Nunavut for years to come."

About Exchange Income Corp.

Exchange Income is a diversified acquisition-oriented company, focused in two segments: aerospace and aviation 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.

We seek Safe Harbor.