Bombardier Announces Bondholder Settlement in New York

MONTRÉAL, July 1, 2024 (GLOBE NEWSWIRE) — Bombardier Inc. (“Bombardier” or the “Company”) announced today that it has reached an agreement to settle the lawsuit Antara Capital Master Fund LP, Corbin ERISA Opportunity Fund Ltd. and Corbin Opportunity Fund, LP v. Bombardier Inc., and others (“Suit”). The lawsuit has been pending in the Supreme Court of the State of New York, Commercial Division of New York County, since its filing in January 2022. A description of the lawsuit can be found in the litigation note included in the Company’s most recently published quarterly financial report for the period ended March 31, 2024.

The settlement will take effect once customary conditions are met, which may take several days. The settlement completely resolves the lawsuit and avoids the distractions, expenses and uncertainties associated with any legal proceedings. All defendants will be released completely without any admission of responsibility.

The settlement also includes the plaintiffs’ consent, as beneficial owners of the outstanding 7.45% Senior Notes maturing in 2034, to amendments to the agreement relating to these bonds (the “Agreement”) entered into in 2021, including consent to the transaction. the disposals contemplated in the Complaint have not resulted in any default under the Indenture and, for the avoidance of doubt, waive any alleged breaches of the Indenture under the Indenture in connection therewith.

The terms of the settlement are confidential.

The settlement does not have a material impact on the Company’s financial results or consolidated cash position.

While the Company strongly believes that the allegations in this matter are without merit, it also believes that it is in the best interests of the Company and all of its stakeholders to settle this matter and focus on its core business activities.

About Bombardier

At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best aircraft for the most demanding people and companies, governments and militaries. This means not only exceeding standards, but also understanding customers well enough to anticipate their unexpressed needs.

For them, we are committed to creating the future of aviation – innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unparalleled craftsmanship and care, giving our customers the greater confidence and sublime experience they deserve and expect. Because the people who shape the world will always need the most productive and responsible ways to navigate it.

Bombardier customers operate a fleet of approximately 5,000 aircraft, supported by an extensive network of Bombardier team members around the world and 10 maintenance facilities in six countries. Bombardier’s premium jets are proudly manufactured at construction, assembly and finishing facilities in Canada, the United States and Mexico.

For information

For corporate news and information, including the Bombardier Environmental, Social and Governance report, as well as the company’s plans to cover all flight operations with Sustainable Aviation Fuel (SAF) using the Book and Claim system, visit bombardier.com. Follow us on X @Bombardier.

Media contacts

Franciszek Richer de La Flèche Vice President of Financial Planning and Investor Relations Bombardier +1 514 240-9649

Mark Masluch Senior Director of Communications Bombardier +1 514 855-7167

Forward-looking statements

Certain statements contained in this announcement are forward-looking statements based on current expectations, which may include, but are not limited to: the entry into force of the settlement and the fulfillment and timing of conditions related thereto; the impact of the settlement on the named defendants in the Complaint and on the Company’s business and operations; and the immaterial impact of the settlement on the Company’s financial results or its consolidated cash position.

By their nature, forward-looking statements require the Company to make assumptions and are subject to significant known and unknown risks and uncertainties that could cause actual consequences or results in future periods to differ materially from those expressed in the forward-looking statements. Please also see the note regarding “Forward-Looking Statements” and the section entitled “Risks and Uncertainties” included in Bombardier’s published quarterly financial report for the period ended March 31, 2024 and annual financial report for the fiscal year ended December 31, 2023.