AIMIA REACHES SETTLEMENT WITH THE CANADA REVENUE AGENCY

TORONTO, June 16, 2025 /CNW/ – Aimia Inc. (TSX: AIM) announced today the successful resolution of its tax dispute with the Canada Revenue Agency (“CRA”) and anticipates a refund of approximately $27 million pending final processing of the settlement agreement. The tax dispute relates to a 2013 income tax audit of Aimia’s former subsidiary, Aeroplan Inc. All amounts are in Canadian currency.

Aimia expects to use the proceeds from the CRA refund to support its 2025-2026 normal course issuer bid and for general working capital purposes.

Aimia completed the sale of Aeroplan Inc. to Air Canada in January 2019. Under the terms of the purchase agreement, Aimia agreed to indemnify Air Canada for pre-closing income tax liabilities and put $100 million from the sale proceeds into an escrow account for such purposes.  In 2019, Aimia remitted $32.9 million from the escrow account to the CRA and the provincial tax agency, Revenu Québec, upon receipt of a notice re-assessment for the 2013 tax audit.  In July 2020, the balance of the escrow account, $67.1 million, was released to Aimia.

With its tax dispute with the CRA now resolved, Aimia will seek recourse from Revenu Québec for the remaining $6 million portion of the 2013 tax audit. Aimia anticipates that a similar resolution is likely.

About Aimia

Aimia Inc. (TSX: AIM) is a diversified company focused on enhancing the value of its two core global businesses, Bozzetto, a sustainable specialty chemicals company, and Cortland International, a rope and netting solutions company. Headquartered in Toronto, Aimia’s priorities include reducing its holding company costs, reducing the discount of its share price to the intrinsic value of its net assets and efficiently utilizing its loss carry-forwards to create shareholder value.

For more information about Aimia, visit www.aimia.com

Forward-Looking Statements

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SOURCE Aimia Inc.