Ms. Pauline Dhillon reports

CARGOJET RECEIVES ARBITRATION AWARD

Cargojet Inc. has received the final award of the arbitrator, William Kaplan, establishing the final terms of a new collective agreement with the Air Line Pilots Association. The arbitrator's final award follows extensive negotiations and mediated discussions that began in late 2025 and concludes the collective bargaining process. The new collective agreement is effective July 1, 2026, through June 30, 2031.

"Today's award by the arbitrator concludes the process for a new collective agreement with our pilots after many months of negotiations and mediation. This agreement brings closure to a long process. Our focus can now turn to moving forward with our pilots who play a critical role in Cargojet's success through their professionalism, dedication and commitment to delivering exceptional service," said Pauline Dhillon, chief executive officer. "This agreement provides stability for our customers, team members and stakeholders while ensuring Cargojet continues to deliver the safe, reliable and industry-leading service our customers expect for years to come. Cargojet values its relationship with its pilots and ALPA, and look forward to continuing to work together to support Cargojet's long-term success."

The five-year agreement more closely aligns Cargojet pilots' compensation and operating provisions with current industry standards, and reflects a balanced outcome that supports productivity, operational excellence and long-term sustainability. The agreement continues to provide continuity and stability for customers, team members and shareholders.

About Cargojet Inc.

Cargojet is Canada's leading provider of time-sensitive premium air cargo services to all major cities across North America, providing dedicated, ACMI and international charter services, and carries over 25 million pounds of cargo weekly. Cargojet operates its network with its own fleet of 41 aircraft.