Mr. Eric Martel reports

THE HELICOPTER COMPANY SIGNS LOI WITH BOMBARDIER AT FARNBOROUGH INTERNATIONAL AIRSHOW 2026 FOR A FLEET OF UP TO 60 NEW STATE-OF-THE-ART JETS

The Helicopter Company (THC), Saudi Arabia's leading commercial helicopter operator, has made a strategic move into fixed wing business aviation for the charter and management of jets, signing a letter of intent (LOI) with Bombardier Inc. toward finalizing a firm order for 12 aircraft, including five Challenger 3500, five Global 5500 and two Global 8000 aircraft, with purchase options for 48 more aircraft across these platforms (1). The signing ceremony took place at the Farnborough International Airshow, currently taking place in the United Kingdom until July 24. The ceremony was attended by the chief executive officer of THC, Capt. Arnaud Martinez, and head of aviation and security at the Public Investment Fund, Muhammad Ovais Yousuf, and leadership from Bombardier, including its president and CEO, Eric Martel, and the company chairman, Pierre Beaudoin.

With the launch of this new segment of operations, THC, a Public Investment Fund (PIF) company, enters the business aviation sector as a natural extension of the journey it has been on since its founding in 2018. The new business stream is designed to meet growing demand for private and general aviation, driven by Saudi Arabia's expanding tourism sector, business activity and emerging destinations.

"As a portfolio of companies, THC was always poised to expand beyond rotary-wing aviation into fixed-wing operations," said Capt. Martinez. "Our vision has always been to become the general aviation champion from Saudi Arabia to the world."

"Bombardier's aircraft are uniquely positioned to meet the evolving needs of customers around the world, offering exceptional versatility, dispatch reliability and a world-class customer experience," said Mr. Martel. "We are honoured that The Helicopter Company has selected Bombardier to support its future fleet ambitions. This is a powerful symbol of our companies' shared customer-centric DNA and vision for economic growth in the region. This signing also represents a significant endorsement of our aircraft, our people and our long-term commitment to supporting growth in the Kingdom of Saudi Arabia."

The new business aviation segment addresses a growing demand in Saudi Arabia's business aviation market. By combining a unique identity with a highly personalized, customer-centric experience, THC aims to become the region's leading business aviation operator and the national carrier of choice in private charters and business aviation.

To launch, the company intends to operate up to 60 aircraft spanning Bombardier's industry-leading Challenger and Global aircraft families, including the Challenger 3500, Global 5500 and Global 8000. As such, the fleet will combine efficiency, long-range capability and premium passenger comfort across the supermid-size, long-range and ultralong-range segments, to establish a modern and highly capable aircraft fleet, built to match Saudi and regional demand.

"Every investment we make is guided by the same philosophy -- to build an integrated aviation ecosystem that supports Saudi Vision 2030 through innovation, operational excellence and long-term value creation," Capt. Martinez further commented.

"Fleet commonality, advanced aircraft technology, and a commitment to more efficient and sustainable operations are fundamental to that approach, enabling us to deliver the highest standards of safety and service while positioning Saudi Arabia at the forefront of modern aviation.

"As demand continues to grow across the region for the supermid-size category, the Challenger 3500 is ideally positioned to meet customer expectations for performance, comfort and reliability. The Global 5500 continues to set the benchmark in its class with industry-leading range and outstanding versatility, while the flagship Global 8000 -- the pinnacle of business aviation -- ushers in a new era of business aviation performance and capability," added Mr. Martel. "Our team looks forward to working hand in hand with THC to support their ambitions and success throughout the life cycle of their soon-to-be extensive, bespoke fleet. Through planned local investments dedicated to supporting THC's operations and the strength of our global support network, we are committed to delivering the resources, expertise and service wherever their operations take them."

This foundation now underpins THC's expansion into fixed-wing business aviation, supporting the growth of Saudi Arabia's general aviation sector while attracting investment and advancing localization to build a robust aviation ecosystem in the kingdom.

About The Helicopter Company (THC)

THC was established as part of Saudi Public Investment Fund's strategy to activate new sectors in Saudi Arabia that support the realization of Vision 2030 by creating an entire new ecosystem for general aviation services and introducing safe and efficient transport services across the kingdom. THC is kingdom's leading commercial helicopter operator and has been operating since mid-2019. THC currently has 60-plus aircraft that serve diverse segments, including emergency medical services (EMS), aerial work, private charters and tourism in the kingdom.

About Bombardier Inc.

Bombardier designs, builds, modifies and maintains the world's best performing aircraft for the world's most discerning people, and businesses, governments and militaries. That means not simply exceeding standards but understanding customers well enough to anticipate their unspoken needs.

For them, Bombardier is committed to pioneering the future of aviation -- innovating to make flying more reliable, efficient and sustainable. Bombardier is passionate about delivering unrivaled craftsmanship and care, giving its customers greater confidence and the elevated experience they deserve and expect, because people who shape the world will always need the most productive and responsible ways to move through it.

Bombardier customers operate a fleet of more than 5,200 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier's performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico. In 2024, Bombardier was honoured with the prestigious Red Dot: Best of the Best award for Brands and Communication Design.

(1) The exercise of options would be at the discretion of THC.

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