Mr. Stephane Arsenault reports

HEROUX-DEVTEK ANNOUNCES COMPLETION OF ACQUISITION BY PLATINUM EQUITY

Heroux-Devtek Inc. has completed the previously announced plan of arrangement under the provisions of the Business Corporations Act (Quebec) involving Heroux-Devtek and an affiliate of Platinum Equity Advisors LLC, pursuant to which the purchaser has acquired, directly or indirectly, all the issued and outstanding common shares of the corporation for $32.50 in cash per share.

As part of the arrangement, members of senior management of the corporation, including Gilles Labbe, executive chairman of the board, and Martin Brassard, president and chief executive officer, rolled over a portion of their shares in exchange for shares in the capital of the purchaser's parent company.

Consideration for the shares has been remitted by the purchaser to Computershare Investor Services Inc., as depositary under the arrangement, and will be paid to former shareholders of Heroux-Devtek as soon as reasonably practicable after the date hereof (or, in the case of registered shareholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the share certificate(s) and/or DRS advice(s) representing shares formerly held by them).

As a result of the completion of the arrangement, the shares will be delisted from the Toronto Stock Exchange by Feb. 13, 2025, and Heroux-Devtek will apply to cease to be a reporting issuer under Canadian securities laws in all provinces and territories of Canada.

Early warning reporting

Immediately prior to the effective date of the arrangement, the purchaser and its subsidiaries did not own any shares. An early warning report will be filed on SEDAR+ under the corporation's profile. The purchaser's head office is located at 360 N. Crescent Dr., Beverly Hills, Calif., 90210.

About Heroux-Devtek Inc.

Heroux-Devtek is an international company specializing in the design, development, manufacture, repair and overhaul of aircraft landing gear, hydraulic and electromechanical actuators, custom ball screws, and fracture-critical components for the aerospace market. The corporation is the third-largest landing gear company worldwide, supplying both the defence and commercial sectors. Approximately 94 per cent of the corporation's sales are outside of Canada, including about 57 per cent in the United States. The corporation's head office is located in Longueuil, Que., with facilities in Canada, the United States, the United Kingdom and Spain.