Chorus Aviation : Q2 2023 Chorus Investor Deck

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CAUTION REGARDING FORWARD-LOOKING INFORMATION

This presentation may include forward-looking information within the meaning of applicable securities laws. Forward-looking information may be identified by the use of terms and phrases such as "anticipate", "believe", "can", "could", "estimate", "expect", "future", "intend", "make", "may", "plan", "potential", "predict", "project", "will", "would", and similar terms and phrases, including negative versions thereof and other similar expressions. Such information may involve but is not limited to comments and statements with respect to strategies, expectations, planned operations or future actions. Forward-looking information, by its nature, is based on assumptions and is subject to important risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking information.

Examples of potential forward-looking information in this presentation include statements regarding Chorus' future contracted revenues, plans to reduce debt leverage, the ability to monetize the embedded equity value in Falko's portfolio of leased aircraft, anticipated future returns from Falko-managed funds, the possibility of future dividends and/or share buybacks, and strategies for growing future earnings and cash flows through organic growth initiatives and acquisitions. Actual results may differ materially from results indicated in forward-looking information for a number of reasons, including if: unfavourable amendments to long-term contracts are made and/or breaches or disputes concerning those contracts emerge; general economic conditions (including inflation and interest rates) worsen, or general conditions for the aviation industry deteriorate; new COVID-19 variants or new epidemics and pandemics emerge and restrictive measures are implemented to minimize the public health impact; Falko is unable to successfully launch new funds on the terms currently contemplated or at all; Chorus (including any of its subsidiaries) is unable to attract and retain the type and number of human resources it needs to operate its business; Voyageur is unable to grow its defence and parts businesses; Chorus defaults under any of its debt covenants; asset impairments and/or provisions for expected credit losses are required; changes in law are made (including regulations relating to climate change) which adversely affect Chorus' business; and/or one or more of the risk factors referenced in Chorus' most recent Annual Information Form and in its public disclosure record available on SEDAR at www.sedar.commaterializes. The foregoing factors and risks are not exhaustive. The forward-looking information contained in this presentation represents Chorus' expectations as of the date of this presentation (or as of the date it is otherwise stated) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise such information to reflect new information, subsequent events or otherwise, except as required by applicable securities laws.

NON-GAAP FINANCIAL MEASURES

This presentation refers to certain non-GAAP financial measure which do not have a standardized meaning, may not be comparable to similar measures presented by other entities, and should not be considered a substitute for, or superior to GAAP results. For further information regarding these measures, please refer to the section titled "Non-GAAP Financial Measures" of Chorus' Management's Discussion and Analysis of Results of Operations and Financial Condition dated August 3, 2023, which is available under Chorus' profile on SEDAR at www.sedar.com.