Chorus Aviation Announces Agreement to Sell its Regional Aircraft Leasing Segment

Transaction to unlock significant embedded equity value for common shareholders¹ and position Chorus for the future

HALIFAX, NS, July 30, 2024 /CNW/ - Chorus Aviation Inc. ("Chorus" or the "Company") (TSX: CHR) announced today that it has entered into an agreement to sell all assets in its RAL segment, including Falko Regional Aircraft Limited ("Falko") and Chorus' equity interests in the aircraft investment funds managed by Falko and its affiliates to affiliates of investment funds managed by HPS Investment Partners, LLC (the "Transaction"). The aggregate consideration for the Transaction is approximately $1.9 billion, of which $814 million is in the form of cash (net of estimated transaction expenses) and $1.1 billion is in the form of aircraft debt to be assumed or prepaid by the buyers at closing and the value of the non-controlling interest.⁵