Air Canada Hosts Annual Shareholder Meeting May 12, 2023

Proxy Advisory firms ISS and Glass Lewis recommend endorsing all motions

MONTREAL, May 4, 2023 /CNW/ - Air Canada will hold its annual meeting of shareholders on Friday, May 12, 2023. The meeting begins at 10:30 a.m. (Eastern Time) and will be accessible only by live webcast available at https://aircanada.com/AGM.

Air Canada is also pleased to inform its shareholders that both Institutional Shareholder Services Inc. and Glass Lewis & Co., LLC, two leading independent proxy advisory firms, have recommended that shareholders of Air Canada vote in favour of all items of business identified in the company's meeting circular.

Registered shareholders of record on March 14, 2023, and duly appointed proxyholders will be able to attend, participate and vote at the meeting online on all items of business before the meeting, namely: the election of directors who will serve until the end of the next annual shareholder meeting; the appointment of auditors; consideration and approval, in an advisory, non-binding capacity, of Air Canada's approach to executive compensation; and the renewal of the existing shareholder rights plan. Additional information relating to the meeting is available in Air Canada's management proxy circular, available on Air Canada's website at aircanada.com/investors and on sedar.com.

Registered shareholders and duly appointed proxyholders may submit questions in advance of the meeting by 9:30 a.m., Eastern Time, on May 11, 2023 or during the online meeting. Additional information relating to the meeting (including how to vote and submit questions) is available in on Air Canada's website at aircanada.com/investors.

Members of the media and public are also invited to participate on a listen-only basis online.

Air Canada is Canada's largest airline, the country's flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada's Aeroplan program is Canada's premier travel loyalty program, where members can earn or redeem points on the world's largest airline partner network of 45 airlines, plus through an extensive range of merchandise, hotel and car rental rewards. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada's passenger and freighter aircraft. Air Canada has committed to a net zero emissions goal from all global operations by 2050. Air Canada shares are publicly traded on the TSX in Canada and the OCTQX in the US.

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