An anonymous director reports

ATS ANNOUNCES PRICING OF UPSIZED $400 MILLION SENIOR UNSECURED NOTES OFFERING

ATS Corp. has entered into an underwriting agreement to sell, pursuant to a private placement offering, $400-million aggregate principal amount of 6.5 per cent senior unsecured notes due 2032, which aggregate principal amount of notes was upsized from the initial deal size of $300-million. The notes will be issued at a price of $1,000 per $1,000 principal amount of notes. The notes will accrue interest at the rate of 6.5 per cent per year, payable in cash in equal payments semi-annually in arrears on Feb. 21 and Aug. 21 of each year, commencing on Feb. 21, 2025. The notes will be issued pursuant to an indenture to be entered into between the company and Computershare Trust Company of Canada, as trustee.

ATS intends to use the net proceeds of the offering to pay outstanding amounts owed under the revolving line of credit available under its senior syndicated credit facility.

The notes are being conditionally offered for sale in Canada on a private placement basis, pursuant to certain prospectus exemptions. The notes have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and are being offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers, in reliance on Rule 144A under the United States Securities Act of 1933 and applicable state securities laws, and outside the United States in offshore transactions, in reliance on Regulation S under the United States Securities Act of 1933.

Subject to customary closing conditions, the closing of the offering is expected to occur on or about Aug. 21, 2024.

About ATS Corp.

ATS is an industry-leading automation solutions provider to many of the world's most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added solutions, including preautomation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, transportation, food and beverage, consumer products, and energy. Founded in 1978, ATS employs over 7,000 people at more than 65 manufacturing facilities and over 85 offices in North America, Europe, Southeast Asia and Oceania.

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