Mr. Kosty Gilis reports

ONEX PARTNERS ANNOUNCES THE SALE OF EMERALD TO APOLLO FUNDS

Onex Corp.'s Onex Partners has noted the sale of Emerald Holding Inc. (New York Stock Exchange: EEX), of which it owns over 90 per cent of the outstanding shares, to funds managed by Apollo (NYSE:APO). Upon completion of the transaction, Emerald will cease trading on the New York Stock Exchange and become a private company owned by the Apollo Funds. All amounts are in United States dollars unless otherwise stated.

Emerald is a leading United States-based B2B (business-to-business) event organizer, empowering businesses year-round by expanding meaningful connections, developing influential content and delivering powerful commerce-driven solutions through a curated portfolio of B2B events spanning trade shows, conferences, B2C (business-to-consumer) showcases and a scaled Executive Peer Network platform.

"I'd like to thank Herve Sedky, Emerald's CEO, for his strong stewardship of the business since joining the company early in the pandemic. He and his team have been wonderful partners to us and have positioned the business and its portfolio of events and other properties for continued success," said Kosty Gilis, managing director at Onex Partners. "As a private company, we are confident that it will continue to grow and evolve, pursuing additional opportunities that will be available to it under Apollo Funds' ownership."

The transaction values Emerald at approximately $1.5-billion. Onex Partners's investment in Emerald is held through Onex Partners III and Onex Partners V, both of which will receive full liquidity on their respective positions.

The transaction is expected to close in the second half of 2026, subject to regulatory approvals.

Goldman Sachs & Co. LLC acted as Emerald's exclusive financial adviser and Fried, Frank, Harris, Shriver & Jacobson LLP acted as its legal counsel.

Onex Partners was advised on the sale of its ownership stake by William Blair & Company and Solomon Partners.

About Onex Partners

Onex Partners is Onex's upper middle market buyout strategy focused on equity investments in North America and Europe in specific industry verticals in which it enjoys longstanding networks and informational advantages. Onex Partners has invested over $22-billion across six funds and, to date, has acquired 53 operating company platforms and completed more than 590 add-on acquisitions, while offering approximately $7-billion of co-investment capital across 24 co-investment opportunities since inception.

About Onex Corp.

Onex invests and manages capital on behalf of its shareholders and clients across the globe. Formed in 1984, the company has a long record of creating value for its clients and shareholders. Onex's investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, banks, insurance companies, family offices, and high-net-worth individuals. In total, Onex has approximately $59.2-billion in assets under management, of which $8.7-billion is Onex's own investing capital.

With offices in Toronto, New York, New Jersey 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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