Mr. Joe Racanelli reports

AIMIA PROVIDES RESPONSE TO MITHAQ'S STATEMENTS REGARDING UPCOMING ANNUAL MEETING OF SHAREHOLDERS

Aimia Inc. has provided the following statement in response to a news release issued by Mithaq Capital SPC regarding the company's annual general meeting of shareholders (AGM) slated for June 26, 2024.

Mithaq recently nominated six directors for election at the AGM, representing a majority and change of control of the board of Aimia.

Conspicuously absent in Mithaq's announcement was any discussion of a strategy or plan for creating shareholder value. Instead, Mithaq retread old ground, revisiting matters previously addressed by Aimia's board, or no longer relevant in light of management changes and the company's progress since January, 2024.

In contrast, Aimia's senior management and board of directors have repeatedly articulated a clear strategy for creating shareholder value. And over the next few months, the company will complete a strategic review of Aimia's corporate and financial structure with the goal of returning capital to its shareholders in an orderly manner and in a reasonable time frame.

Aimia's strategy presents the best path for delivering value to shareholders and will build on the results from the decisive actions the company has taken since the start of the year:

• Eliminated more than $2-million in annual executive compensation expenses with management changes;
• Strengthened the board and improved governance;
• Monetized more than $20-million from its investments in non-core holdings on a year-to-date basis;
• Eliminated a $20-million liability related to carried interest and reduced annual advisory service fees by more than $1-million;
• Closed the earn-out from the PLM transaction and received $32.9-million;
• Pending regulatory approval, Aimia will be launching a normal course issuer bid in the coming days to purchase for cancellation up to 10 per cent of the public float of common shares or approximately seven million common shares, the maximum allowed by the Toronto Stock Exchange.

Aimia is a different company from the 2023 annual general meeting, and the company's senior management and board are moving forward; Mithaq is mired in the past.

The stark contrast in vision for generating value for Aimia shareholders is also reflected in each slate of nominees.

Mithaq's announcement presented a slate of nominees that is inexperienced in generating returns for shareholders and without meaningful experience sitting on boards of public companies.

In comparison, Aimia's nominees bring together more than 200 years of professional experience, combining expertise in executive leadership, mergers and acquisition, creating shareholder value, supply chain management, operations, and change management, all absent in Mithaq's slate. Aimia's nominees also have significant experience on the boards of publicly traded companies, and are well versed in good governance practices and accountability to all shareholders.

The commitment of Aimia's board and senior management to the company, and the company's growth potential were reflected by the increase in insider ownership by more than 20 per cent since insiders were first permitted to acquire shares in 2024 under the company's trading policy.

Heading into the AGM, Aimia shareholders have two options: one that is fraught with high risk and uncertainty, offers no ideas for future shareholder returns, and is without experienced leadership. The other comes with a clear strategy for creating value that is already bearing fruit and is guided by an experienced, highly qualified board. The choice is obvious.

Aimia's board of directors recommends that shareholders vote for all of Aimia's highly qualified and experienced director nominees. Shareholders with questions can contact Kingsdale Advisors. Call 1-800-495-6389 (North America toll-free); text or call 1-647-251-9706 (outside North America); or e-mail contactus@kingsdaleadvisors.com.

Aimia is continuing to review Mithaq's nomination submission.

About Aimia Inc.

Aimia is a diversified company focused on unlocking the growth potential of its two global businesses, Bozzetto, a sustainable specialty chemicals company, and Cortland International, a rope and netting solutions company. Headquartered in Toronto, Aimia has priorities including monetizing its non-core investments, returning capital to its shareholders and efficiently utilizing its loss carryforwards to create shareholder value.

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