Mr. Zev Korman reports

ONEX PARTNERS AND CO-INVESTORS TO ACQUIRE AIRSPRINT, CANADA'S LEADER IN FRACTIONAL JET OWNERSHIP

Onex Corp.'s Onex Partners Opportunities Fund, TriWest Capital Partners and certain other co-investors have agreed to acquire AirSprint Inc., the largest fractional jet operator in Canada. AirSprint's founder and chairman Judson Macor, president and chief executive officer James Elian, and certain of its current shareholders will remain investors following closing of the transaction. (All amounts are in U.S. dollars unless otherwise stated.)

Headquartered in Calgary, Alta., with offices in Toronto and Montreal, AirSprint operates the largest fractional fleet of private aircraft in Canada. AirSprint provides coast-to-coast access, enabling fractional owners to travel to thousands of destinations from locations across Canada. It offers a smarter way to travel by enhancing the private jet ownership experience through industry-leading safety standards, exceptional turnkey service and a fully personalized approach tailored to the needs of its 600-plus fractional owners.

The investment will support AirSprint's next phase of growth, including fleet expansion, operational enhancements, technology investments and strategic initiatives designed to further strengthen its leadership position in the Canadian private aviation market. It will also support continued investment in AirSprint's team of more than 400 professionals across Canada. AirSprint's experienced work force, proven fractional ownership model and strong growth outlook were important considerations in the decision to invest by Onex and its co-investors.

Following closing of the transaction, Mr. Macor, AirSprint's founder and chairman, will become AirSprint's chairman emeritus, and Mr. Elian, AirSprint's president and chief executive officer, will continue in his executive role and remain on AirSprint's board of directors.

Mr. Macor, AirSprint's founder and chairman, said: "For the past 26 years, AirSprint's success has been built on the trust, dedication and support of our employees, fractional owners, partners, suppliers and shareholders. I am deeply grateful to everyone who has contributed to our journey and helped establish AirSprint as Canada's leading private aviation company.

"Today marks an exciting new chapter as we welcome Onex and its co-investors as our first institutional investors. Their investment is a strong endorsement of the business we have built and the opportunities ahead, and their experience, resources and long-term perspective will help support AirSprint's continued growth. I am pleased to remain a significant shareholder and member of the board of directors, and I look forward to working alongside Onex, our leadership team and our employees as we continue building on AirSprint's strong foundation."

Mr. Elian, AirSprint's president and chief executive officer, said: "What makes AirSprint special is our people. Across the country, our team shows up every day with a deep commitment to our fractional owners and to the standards that have built AirSprint's reputation. As we enter this next chapter, I am excited to work with Onex, whose commitment to supporting our team, serving our fractional owners and advancing AirSprint's long-term vision gives me great confidence that AirSprint will continue delivering the safety, service, reliability and value our fractional owners depend on today and will expect in the years ahead."

Faiz Hemani, a managing director at Onex Partners, said: "Judson Macor founded and grew the company from a single aircraft into a national private aviation platform defined by an uncompromising dedication to its fractional owners, and we're proud to help carry that legacy forward. We're excited to back James Elian and the entire team to execute their plan to grow AirSprint's core business, expand its offerings and continue to deliver the safety standards and white-glove service that set AirSprint apart."

Goodmans LLP acted as Canadian legal counsel, Kirkland & Ellis LLP acted as U.S. legal counsel, DLA Piper LLP acted as aviation regulatory counsel, and RBC Capital Markets acted as exclusive financial adviser to Onex Partners and its co-investors.

Blake, Cassels & Graydon LLP acted as legal counsel, and CIBC Capital Markets and Jefferies LLC acted as financial advisers to AirSprint.

The transaction is expected to close in the third quarter of 2026.

About Onex Partners Opportunities Fund

Onex Partners is Onex Corp.'s upper middle market buyout strategy focused on equity investments in North America and Europe in specific industry verticals in which it enjoys long-standing 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, it has a long record of creating value for its clients and shareholders. Its 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 $56-billion in assets under management, of which $9.4-billion is Onex Corp.'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 its platforms. Onex Corp. is listed on the Toronto Stock Exchange under the symbol ONEX.

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