Aimia Inc. · TSX:AIM
Aimia — Shareholder Meeting (May 2026)
26 slides from Aimia's shareholder meeting presentation, May 13, 2026
Slide 1: 2026 Annual Meeting of Shareholders
Aimia 2026 Annual Meeting of Shareholders May 13, 2026
Slide 2: Forward-looking and cautionary statements
Forward-looking and cautionary statements This presentation contains statements that constitute “forward-looking information” within the meaning of Canadian securities laws (“forward-looking statements”), which are based upon Aimia’s current expectations, estimates, projections, assumptions and beli
Slide 3: Meeting the investment opportunity
Meeting the investment opportunity
Slide 4: The opportunity
The opportunity 1 Changes to public markets (active to passive) have created significant number of undervalued companies 2 Permanent capital vehicles are well suited to capitalize on these investment opportunities 3 Aimia has underutilized structural advantages 4
Slide 5: Aimia's structural advantages
Aimia’s structural advantages Unique $1B in tax Cash holding losses • Divestiture of Bozzetto will • Operates in a fragmented • Will be utilized directly or generate proceeds of $267M industry indirectly • Proceeds will be used as a • Capitalizing on shift to high- catalyst for growing NAV performan
Slide 6: Avoiding mistakes from the past
Avoiding mistakes from the past Period from 2017 to 2024 marked by: • Poor investment decisions • Value destruction • Serial leadership turnover • No real alignment with shareholder interests • Inability to leverage tax loss carryforwards • ~$30 million misspent on shareholder activism Shareholders
Slide 7: Unwise past investments
Unwise past investments • Business to business platform for cross- • Loyalty technology company border trading of vehicles • Filed for bankruptcy in 2025 • Invested $78.3M • Returned $10M on $111M investment of • Went into receivership in 2024 which was $43M was cash Neither generated cash flow or h
Slide 8: Impact on shareholders
Impact on shareholders $ Billions Aimia Historical Market Capitalization $5.0 $4.5 Global financial crisis $4.0 $3.5 $3.0 News that Air Canada $2.5 plans to end contract $2.0 Increased investor $1.5 activism $1.0 $0.5 $0.0 2006 2011 2016 2021 2026 At its peak, Aimia had a higher valuation than Air C
Slide 9: Reasons for optimism
Reasons for optimism • Making progress against 3-step strategy • Strong alignment between board on shareholders • Investments will be incremental • Strong governance in place • Cortland has potential for growth • Opportunity to utilize $1B of tax loss carry forwards Poised to deploy capital for new
Slide 10: Progress against 3-step strategy
Progress against 3-step strategy Reduce Share price Deploy capital 11. Reduce HoldCo Costs 022. Discount 3. effectively Decreased HoldCo costs to $7.7M Bought 5.9M common shares Closing of Bozzetto in 2025 from $12M in 2024 in 2025 for $16.4M transaction expected in May Target HoldCo costs for 2026
Slide 11: Optimized Aimia's Board and leadership team
Optimized Aimia’s Board and leadership team Rhys Summerton – Exec Chair Steve Leonard - President & CFO 25 years of capital markets and 35 years of finance and executive investment management experience leadership experience. Rob Feingold Tom Little, ICD.D Accomplished financial professional Accompl
Slide 12: Board alignment with investor interests
Board alignment with investor interests • Optimized to 5 members in 2025 • Holds 42.6% of share ownership • Lowest fees in more than a decade • Provides oversight to capital allocation decisions Alignment has increased with end of shareholder activism 12
Slide 13: Aimia's investment approach
Aimia’s investment approach Identify undervalued Invest Repeat 11. companies 022. 3. Targets must match key criteria Use available cash and Utilize cash and cashflow to securities to make investment make new investments Critical that targets have cash on balance sheet available for Aimia’s Goal is t
Slide 14: Cortland
Cortland AIMIA
Slide 15: Cortland's outlook is favourable
Cortland’s outlook is favourable • Brings together Tufropes and Cortland Industrial • High-performance rope and netting solutions • Global reach with full suite of products • Key markets: Fishing & Aquaculture; Marine & Shipping; Industrial & Safety; Offshore Energy • 6 production facilities in U.S.
Slide 16: Cortland's diverse market applications
Cortland’s diverse market applications • Fishing & Aquaculture • Marine & Shipping Primary Markets • Offshore Energy • Aerospace & Defense • Industrial Safety • Sports & Recreation • Growing demand for high-performance ropes as alternatives to steel wire ropes Key Drivers • Growing global demand for
Slide 17: Cortland's global operations
Cortland’s global operations Manufacturing & Engineering Centers Commercial & 2x Technical Resources Netherlands Commercial & Technical Resources Manufacturing & Engineering Centers 4x Commercial & Technical Resources India Commercial & Technical Resources Commercial & Chile & Brazil Technical Resou
Slide 18: Large-scale production facilities
Large-scale production facilities More than 180,000 sq metres of world-class manufacturing Indore-M.P Unit 1 Indore-M.P Unit Masat-Silvassa Unit India India India Vadodara-Gujarat Anacortes Houston India Washington, USA Texas, USA 18
Slide 19: Tax Losses
Tax Losses AIMIA
Slide 20: Aimia has more than $1B in tax losses carry forward
Aimia has more than $1B in tax losses carry forward* • Aimia’s capital losses can be used to shield future capital gains or to shield the repatriation of cash from subsidiaries Available Tax $509.9 • Subject to applicable tax rules, operating $577.9 Losses losses can be used to shield profits in $Mi
Slide 21: Illustrative value of tax losses
Illustrative value of tax losses Capital NOLs Losses $ in millions Canada USA Canada India Total • Aimia’s combined tax losses represent $214M in unrecognized tax assets* Tax Loss Total $261.0 $248.9 $575.1 $2.8 $1,087.8 • To date, Aimia has not recorded any tax asset value related to its tax loss c
Slide 22: Priorities & Outlook
Priorities & Outlook AIMIA
Slide 23: Longer term priority – grow net book value per share
Longer term priority – grow net book value per share* 21% $7.00 $6.48 $6.50 $6.00 $5.50 $5.00 increase due to $4.50 $3.57 Bozzetto sale gain $4.00 $3.66 $3.03 $3.50 $3.08 $2.82 $3.00 $2.50 $2.00 Dec. 31- 30-Jun Sept. Dec. 31- 30-Jun Sept. Dec. 31- 30-Jun 30- Dec. 31- PRO 31 Mar 30 31 Mar 30 31 Mar S
Slide 24: Summary
Summary • Aimia is poised to execute on third-step of strategy • Made considerable progress over past 12 months • Near-term priorities include: • Close Bozzetto sale before end of May • Make offer to redeem senior notes in June • Renew NCIB in June • List in the UK • Longer term focus is to grow net
Slide 25: Questions?
Questions? AIMIA
Slide 26: TSX: AIM www.aimia.ca IRandMedia@corp.aimia.ca
TSX: AIM www.aimia.ca IRandMedia@corp.aimia.ca