Mr. Gerry Schwartz reports

ONEX APPOINTS BOBBY LE BLANC AS CEO AND CONFIRMS ELECTION OF DIRECTORS

Onex Corp. has appointed Bobby Le Blanc chief executive officer following shareholder approval of the multiple voting shares (MVS) amendment proposal at the company's annual and special meeting of shareholders earlier today. Approximately 98 per cent of the votes cast by subordinate voting shares (SVS), including 98 per cent of minority-held SVS, were cast for the proposal, as set out in the attached table.

Approved by                                                     % votes for

Multiple voting shares                                                  100    
Subordinate voting shares                                                98     
Multiple voting shares and subordinate voting shares (combined)          99     

"The appointment of Bobby as CEO is an important milestone in the growth and evolution of the business, and I appreciate the support of our shareholders in moving forward with our succession plan," said Gerry Schwartz, chairman. "We look forward to Bobby's leadership and to the contributions of Lisa Carnoy, our newest independent director, whom we welcome to Onex."

"I am grateful for the support of the board and to shareholders for supporting this transition," said Mr. Le Blanc. "As only the second CEO in Onex's nearly 40-year history, I look forward to building upon the firm's incredible foundation and legacy. I am especially thankful to Gerry for his mentorship and grateful that we will continue to benefit from his experience. We are united in our belief that Onex has a great future and that we must take further steps to accentuate value creation in the time ahead. I look forward to working with the entire Onex team to execute our strategy and reach our full potential."

Each of the nominees for the board of directors was elected as a director of Onex. Detailed results of the vote for each director are set out in the attached table.

Nominee                              Elected by   % votes for

Mr. Schwartz             Multiple voting shares           100    
Mitchell Goldhar         Multiple voting shares           100    
Ewout Heersink           Multiple voting shares           100    
John B. McCoy            Multiple voting shares           100    
J. Robert S. Prichard    Multiple voting shares           100    
Heather M. Reisman       Multiple voting shares           100    
Arni C. Thorsteinson     Multiple voting shares           100    
Mr. Le Blanc          Subordinate voting shares            71     
Lisa Carnoy           Subordinate voting shares            98     
Sarabjit S. Marwah    Subordinate voting shares            90     
Beth Wilkinson        Subordinate voting shares            63     

Mr. Schwartz added: "During this process, shareholders have expressed their desire to see further improvements to our overall governance framework. We are listening and are taking steps to enhance board diversity. We look forward to sharing further updates in due course."

Shareholders also voted on an advisory resolution endorsing the company's approach to executive compensation, generally referred to as say on pay. Details of the resolution are more fully described in the management information circular. The result of the vote is set out in the attached table.

Resolution                                        % votes for

Approach to executive compensation -- say on pay           96

About Onex Corp.

Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, Onex has a long record of creating value for its clients and shareholders. Onex's two primary businesses are private equity and credit. In private equity, Onex raises funds from third party investors or limited partners, and invest them, along with Onex's own investing capital, through the funds of its private equity platforms, Onex Partners and ONCAP. Similarly, in credit, Onex raises and invests capital across several private credit, public credit and public equity strategies. Onex's investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies, and family offices. In total, Onex has $50.8-billion in assets under management, of which $7.9-billion is Onex's own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex's platforms.

Onex is listed on the Toronto Stock Exchange under the symbol ONEX.

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