Cargojet Inc. — Capital/Financing Update 2020

Jun 26, 2020

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Ontario Commission des Securities valeurs mobilières Commission de l’Ontario

22nd Floor 22e étage 20 Queen Street West 20, rue Queen ouest Toronto ON M5H 3S8 Toronto ON M5H 3S8

RECEIPT

Cargojet Inc.

This is the receipt of the Ontario Securities Commission for the Preliminary Short Form Prospectus of the above Issuer dated June 26, 2020 (the preliminary prospectus).

The preliminary prospectus has been filed under Multilateral Instrument 11-102 Passport System in British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Northwest Territories, Yukon and Nunavut . A receipt for the preliminary prospectus is deemed to be issued by the regulator in each of those jurisdictions, if the conditions of the Instrument have been satisfied.

June 26, 2020

Sonny Randhawa

Sonny Randhawa Director, Corporate Finance Branch

SEDAR Project # 3074614