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Chorus Aviation Inc. Board/Management Information 2021

Mar 23, 2021

46728_rns_2021-03-23_afc1d075-ed76-447a-989c-c114dc4482ad.pdf

Board/Management Information

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FORM 51-102F3 MATERIAL CHANGE REPORT

1. Name and Address of Company

American Aires Inc. (the “ Company ”) 400 Applewood Crescent, Suite 100 Vaughan, Ontario L4K 0C3

2. Date of Material Change

March 19, 2021

3. News Release

A press release disclosing the material change was released on March 19, 2021, through the facilities of Newsfile Corp.

4. Summary of Material Change

The Company announced the appointment of Mr. Andrew Michrowski to the Company's Board of Directors, replacing outgoing director, Mr. Tony Di Benedetto. The Company also announced the grant of incentive stock options to Mr. Michrowski to purchase up to an aggregate of 500,000 common shares of the Company at an exercise price of $0.50 per share expiring on March 19, 2024.

5. Full Description of Material Change

The Company announced the appointment of Mr. Andrew Michrowski to the Company's Board of Directors. Mr. Michrowski replaces outgoing director, Mr. Tony Di Benedetto.

The Company’s board of directors also approved the grant of incentive stock options to Mr. Michrowski to purchase up to an aggregate of 500,000 common shares of the Company at an exercise price of $0.50 per share expiring on March 19, 2024.

6. Reliance on subsection 7.1(2) of National Instrument 51-102

The report is not being filed on a confidential basis.

7. Omitted Information

No significant facts have been omitted from this Material Change Report.

8. Executive Officer

For further information, contact Dimitry Serov, Chief Executive Officer of the Company at (905) 482-4667.

9. Date of Report

This report is dated at Toronto, this 23[rd] day of March, 2021.