Chorus Aviation Inc. · TSX:CHR
Chorus Aviation — Investor Presentation (May 2025)
18 slides from Chorus Aviation's investor presentation, May 2025
Slide 1: Investor Presentation May 2025
TSX: CHR Investor Presentation May 2025
Slide 2: Contents
2 Contents 1. Key Investment Highlights 2. Core Competencies 3. Q1 2025 Financial Highlights 4. Chorus Team 5. Chorus Businesses 6. Growth Opportunities 7. Capital Allocation Priorities Appendices 1. Fleet 2. Jazz, Air Canada Express Operator 3. Voyageur, Speciality Service Provider 4. Cygnet, Accre
Slide 3: Notice to Reader
3 Notice to Reader This presentation contains forward-looking information and statements within the meaning of applicable securities laws (collectively, “forward-looking information”). Forward-looking information is identified by the use of terms and phrases such as “anticipate”, “believe”, “could”,
Slide 4: Key Investment Highlights
4 Key Investment Highlights Aviation solutions provider to customers worldwide Long-term contracted cash flows Strategic transformation in 2024 unlocks value for shareholders
Slide 5: Core Competencies
5 Core Competencies 1. Structuring and negotiating long-term fixed payment contracts with large blue-chip customers, including commercial airlines and government agencies 2. Developing and building strong relationships through consistently delivering on contractual commitments by providing high qual
Slide 6: Q1 2025 Financial Highlights
Q1 2025 Financial Highlights1 6 • Adjusted Earnings available to Common Shareholders – continuing operations of $15.4 million • Adjusted EBITDA of $56.9 million • Free Cash Flow of $40.6 million Adjusted EBITDA2 Adjusted Earnings available to Common Free Cash Flow2 Leverage Ratio2,3 $ (millions) Sha
Slide 7: About Chorus
About Chorus 7 Colin Copp Gary Osborne Randolph deGooyer Dennis Lopes President and Chief Executive Officer Chief Financial Officer Chief Operating Officer Chief Legal Officer and Corporate Secretary We have an exceptional roster of industry 36 Years 32 Years 32 Years 11 Years veterans with an exten
Slide 8: Our Lines of Business
8 Our Lines of Business The largest regional A leading provider of specialty An industry leading accredited operator in Canada and charter, aircraft modifications, training academy developing provider of regional air parts provisioning and in- airline ready pilots services under the Air service supp
Slide 9: Growth Opportunities
9 Growth Opportunities Aerospace Defence • Chorus is focused on high-potential sectors, Pilot Training leveraging substantial strengths and capabilities in aviation services • Contract and specialty aviation are profitable niche markets Regional Parts Provisioning Growth • Chorus intends to grow thr
Slide 10: Capital Allocation Priorities
10 Capital Allocation Priorities Growth Investment Adjusted Return on Equity target of mid-teens for organic growth and Target Accretive acquisitions Growth and Return of Capital to Return of Capital Shareholders Returning capital to shareholders through normal course issuer bid and substantial issu
Slide 11: Appendices
11 Appendices
Slide 12: Fleet
12 Fleet Current Aircraft = 135 1,2 Forecast Covered Aircraft Under the CPA 48 Covered Aircraft Leased Total Covered Aircraft Under 2025 106 Under the CPA (Owned) the CPA 34 Dash 8-400 45 Aircraft Leased (Owned) 14 CRJ900 61 Other Covered Aircraft Other Covered Aircraft 66 Total Covered Aircraft Und
Slide 13: Jazz is Air Canada’s Largest Regional Partner
13 Jazz is Air Canada’s Largest Regional Partner • Fixed fee defined until Dec. 31, 2035 • Lease income from aircraft CPA in effect until Dec. 31, 2035 • Incentives related to operational performance 114 70 400 8.3 million 4,200 Aircraft Destinations in Canada and Flights operated daily Passengers c
Slide 14: The capacity purchase agreement model is well used throughout North America and Europe
14 The capacity purchase agreement model is well used throughout North America and Europe Mainline operator purchases the capacity from the regional carrier Jazz Minimal Downside Risk Jazz Responsibilities No revenue risk, such as: • Ticket prices • Aircraft operations • Passenger load factor • Hiri
Slide 15: Jazz is generally reimbursed for the costs it incurs to operate
15 Jazz is generally reimbursed for the costs it incurs to operate Cost Category Description Earnings Risk Pass-through Full reimbursement No impact Cost of non-controllable costs Reimbursement of controllable costs +/- $2M Controllable Annual unit rates developed based on planned schedule; Capex re
Slide 16: Voyageur - A Specialty Service Provider
16 Voyageur - A Specialty Service Provider 21 450+ 350+ 200,000 Aircraft Customers Employees Sq. ft. facility in North Bay, Ontario * All figures approximate except aircraft number.
Slide 17: Voyageur Areas of Work
17 Voyageur Areas of Work Specialty Part Sales Special Mission Flying MRO • Large facility supports aircraft transitions and storage • Engineered and modified former CPA Dash-8 100 aircraft to Package Freighter • Aircraft engineering modifications and overhaul capabilities to support transition • Di
Slide 18: Cygnet is an accredited pilot training academy
18 Cygnet is an accredited pilot training academy preparing pilots for direct entry into airlines 12 2 2 18 Diamond Aircraft ALSIM Simulators Pilot Training Streams Month Training Program