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Chorus Aviation Inc. M&A Activity 2026

Apr 7, 2026

46728_rns_2026-04-07_7a491646-a450-4f57-b03a-2279adc6f72a.pdf

M&A Activity

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FORM 51-102F3
MATERIAL CHANGE REPORT

Item 1: Name and Address of Company
Chorus Aviation Inc. ("Chorus" or the "Corporation")
3 Spectacle Lake Drive, Suit 380, Dartmouth, Nova Scotia B3B 1W8

Item 2: Date of Material Change
April 1, 2026

Item 3: News Release
The news release with respect to the material change referred to in this report was disseminated by Cision on April 1, 2026. A copy of the news release is available under the Corporation's profile on SEDAR+ at www.sedarplus.ca.

Item 4: Summary of Material Change
On April 1, 2026, Chorus completed the acquisition of Kadex Aero Supply Ltd. ("Kadex"). The acquisition was previously announced on February 12, 2026.

Item 5: Full Description of Material Change

5.1 Full Description of Material Change
On April 1, 2026, Chorus completed the acquisition of Kadex, a leading independent distributor of original equipment manufacturers (OEM) aircraft parts, supplies, and repair and overhaul services. The acquisition was previously announced on February 12, 2026.

5.2 Disclosure for Restructuring Transactions

Item 6: Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.

Item 7: Omitted Information
Not applicable.

Item 8: Executive Officer
Gary Osborne
Chief Financial Officer
Tel: (902) 873-5901
E-mail: [email protected]

Item 9: Date of Report
April 7, 2026