ISS and Glass Lewis Recommend Chorus Shareholders Approve the Sale of Chorus' Regional Aircraft Leasing Segment

HALIFAX, NS, Sept. 16, 2024 /CNW/ - Chorus Aviation Inc. (TSX: CHR) ("Chorus") today announced that leading independent proxy advisory firms Institutional Shareholder Services Inc. ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis") have recommended that Chorus shareholders vote "FOR" the resolution to approve the sale of the assets comprising Chorus' Regional Aircraft Leasing segment (the "Transaction") at the upcoming special meeting on September 25, 2024 (the "Meeting").

Chorus' board of directors (the "Board") has unanimously determined that the Transaction is in the best interest of Chorus and unanimously recommends that shareholders vote "FOR" the resolution relating to the Transaction. A description of the factors considered by the Board is located under the heading "The Transaction – Reasons for the Recommendation" in the Management Proxy Circular for the Meeting, which is available on Chorus' website at www.chorusaviation.com under "Investors / Reports" and under Chorus' profile on the System for Electronic Data Analysis and Retrieval + (SEDAR+) at www.sedarplus.com.

Shareholders who require assistance in voting their shares may contact Kingsdale Advisors, Chorus' strategic shareholder advisor and proxy solicitation agent, by telephone at 1-866-581-1024 (toll-free in North America) or 1-437-561-5032 (text and call enabled outside North America), or by email at [email protected].

Forward-Looking Information

This news release contains forward-looking information and statements within the meaning of applicable securities laws (collectively, "forward-looking information"). Forward-looking information includes, among other things, statements regarding the Transaction, including the anticipated timing of the Meeting, and other statements that are not historical facts. There can be no assurance that the Transaction will ultimately be completed or that other forward-looking information contained herein will prove to be accurate. Actual events or results may differ materially from those anticipated in forward-looking information if known or unknown risks affect Chorus' business, or if Chorus' estimates or assumptions turn out to be inaccurate, which depend on various factors, including the risk factors described in the circular and in Chorus' public disclosure record available under its profile on SEDAR+ at www.sedarplus.com.

The forward-looking information contained in this news release represents Chorus' expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, subsequent events or otherwise, except as required by applicable securities laws. Readers are cautioned that the foregoing factors and risks are not exhaustive.

About Chorus Aviation Inc.

Chorus is a global aviation solutions provider and asset manager, focused on regional aviation. Our current principal subsidiaries are: Falko Regional Aircraft, the leading pure play regional aircraft asset manager and lessor, managing investments on behalf of third-party fund investors; Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus' subsidiaries provide services that encompass every stage of a regional aircraft's lifecycle, including: aircraft acquisition and leasing; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning; and pilot training.

Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. Chorus 5.75% Senior Unsecured Debentures due December 31, 2024, 6.00% Convertible Senior Unsecured Debentures due June 30, 2026, and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange under the trading symbols 'CHR.DB.A', 'CHR.DB.B', and 'CHR.DB.C' respectively. For further information on Chorus, please visit www.chorusaviation.com.

SOURCE Chorus Aviation Inc.

Chorus Media Contact: [email protected]; Chorus Analyst Contact: [email protected]