Chorus Aviation Inc. · TSX:CHR
Chorus Aviation — Investor Presentation (August 2025)
19 slides from Chorus Aviation's investor presentation, August 2025
Slide 1: Investor Presentation
TSX: CHR Investor Presentation August 2025
Slide 2: Contents
2 Contents 1. Key Investment Highlights 2. Core Competencies 3. Q2 2025 and Year-to-date (“YTD”) 2025 Financial Highlights 4. Chorus Team 5. Chorus Businesses 6. Growth Opportunities 7. Capital Allocation Priorities 8. Quarterly Dividend Appendices 1. Fleet 2. Jazz, Air Canada Express Operator 3. Vo
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 “aims”, “ anticipate”, “believe”,
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 strong relationships by consistently delivering on contractual commitments by providing high quality, reliable and
Slide 6: Q2 2025 and YTD 2025 Financial Highlights
Q2 2025 and YTD 2025 Financial Highlights 1 6 Adjusted EBITDA1,2 Adjusted Earnings available to Free Cash Flow1,2 Leverage Ratio1,2 $ (millions) Common Shareholders – $ (millions) $108.2 continuing operations1,2 $104.5 $ (millions) $75.1 $32.6 1.5 $58.9 1.4 $51.3 $50.5 $17.2 $34.6 $28.2 $5.6 $1.9 Q2
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 quarterly divide
Slide 11: Quarterly Dividend
11 Quarterly Dividend • Chorus announced the declaration of a quarterly cash dividend of $0.08 per Class A Variable Voting and Class B Voting Share in June 2025 • Management is focused on growing Chorus’ earnings and cash flows over time and aims to distribute approximately 25% of Chorus’ Free Cash
Slide 12: Appendices
12 Appendices
Slide 13: Fleet
13 Fleet Covered Aircraft Under the Jazz/Air Canada Current Aircraft = 135 1 Capacity Purchase Agreement 48 Covered Aircraft Leased 111 Total Covered Aircraft Under 2025 Under the CPA (Owned) the CPA2 34 Dash 8-400 45 Leased Aircraft (Owned) 14 CRJ900 66 Other Covered Aircraft Voyageur Aircraft (Own
Slide 14: Jazz is Air Canada's Largest Regional Partner
14 Jazz is Air Canada’s Largest Regional Partner • CPA in effect until Dec. 31, 2035 • Lease income from aircraft • Incentives related to operational performance 114 70 400 8.3 million 4,200+ Aircraft Destinations in Canada Flights operated daily Passengers carried annually Employees and USA (based
Slide 15: The capacity purchase agreement model is well used throughout North America and Europe
15 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 16: Jazz is generally reimbursed for the costs it incurs to operate
16 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 17: Voyageur - A Specialty Service Provider
17 Voyageur - A Specialty Service Provider 21 400+ 350+ 200,000 Aircraft Customers Employees Sq. ft. facility in North Bay, Ontario * All figures approximate except aircraft number.
Slide 18: Voyageur Areas of Work
18 Voyageur Areas of Work Specialty Part Sales Special Mission Flying MRO • Large facility supports aircraft transitions • Engineered and modified former CPA Dash-8 and storage 100 aircraft to Package Freighter • Aircraft engineering modifications and • Disassembled and parted out former CPA overhau
Slide 19: Cygnet is an accredited pilot training academy preparing pilots for direct entry into airlines
19 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
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