Change of representatives within the Bombardier family

MONTRÉAL, March 08, 2024 (GLOBE NEWSWIRE) -- This press release is issued under Regulation 62-103 respecting the Early Warning System and Related Take-Over Bid and Insider Reporting Issues (Regulation 62-103) for the purposes of informing the market of certain changes regarding the control that Janine Bombardier (Janine), Claire B. Beaudoin (Claire), Huguette B. Fontaine (Huguette), and J.R. André Bombardier (André, and, together with Janine, Claire and Huguette, the Principal Shareholders) have over the Class A (multiple voting) shares (the Class A shares) of Bombardier Inc. (Bombardier or the Corporation) held by the Bombardier family in connection with a reorganization of the Bombardier family's business.

The changes result from an agreement between certain shareholders of the Corporation who are members of the Bombardier family (the Bombardier Family Agreement) which is binding on the Principal Shareholders and certain holding companies that they control, on the children of the Principal Shareholders and certain holding companies that they control, and on Laurent Beaudoin and Jean-Louis Fontaine and certain holding companies that they control.

Each family group of the Principal Shareholders is represented by a representative. Only representatives are authorized to bind their respective family group for the purposes of the Bombardier Family Agreement and to make decisions, after consulting amongst themselves, regarding the exercise of voting rights attached to certain Class A shares of their respective families that are subject to the Bombardier Family Agreement. Moreover, each party to the Bombardier Family Agreement has undertaken to vote all the Bombardier shares that they hold and control, directly or indirectly, as per the representatives' instructions regarding the shares they control under the Bombardier Family Agreement.

As of the date of this press release, there is therefore a total of 10,474,501 Class A shares representing 84.82% of the Class A shares issued and outstanding, and 1,447,048 Class B (subordinate voting) shares (Class B shares) representing 1.66% of the Class B shares issued and outstanding (the shares subject to the Bombardier Family Agreement), which will ultimately be voted, directly or indirectly, as per the representatives' instructions, the whole subject to the terms and conditions of the Bombardier Family Agreement. For the Janine group, this represents 2,478,936 Class A shares, or 20.07% of the Class A shares issued and outstanding, and 284,404 Class B shares, or 0.33% of the Class B shares issued and outstanding; for the Claire group, this represents 2,454,936 of the Class A shares, or 19.88% of the Class A shares issued and outstanding, and 347,805 Class B shares, or 0.40% of the Class B shares issued and outstanding; for the Huguette group, this represents 2,428,070 Class A shares, or 19.66% of the Class A shares issued and outstanding, and 282,805 Class B shares, or 0.32% of the Class B shares issued and outstanding; and for the André group, this represents 2,616,036 Class A shares, or 21.18% of the Class A shares issued and outstanding, and 293,435 Class B shares, or 0.34% of the Class B shares issued and outstanding. As for the shares held by Pierre Beaudoin, Laurent Beaudoin, Jean-Louis Fontaine and Joanne Bissonnette, respectively, this represents for Pierre Beaudoin 20,514 Class A shares, or 0.17% of the Class A shares issued and outstanding, and 38,109 Class B shares, or less than 0.1% of the Class B shares issued and outstanding; for Laurent Beaudoin, this represents 312,111 Class A shares, or 2.53% of the Class A shares issued and outstanding, and 200,000 Class B shares, or 0.23% of the Class B shares issued and outstanding; for Jean-Louis Fontaine, this represents 163,898 Class A shares, or 1.33% of the Class A shares issued and outstanding, and 258 Class B shares, or less than 0.1% of the Class B shares issued and outstanding; and for Joanne Bissonnette, this represents 232 Class B shares, or less than 0.1% of the Class B shares issued and outstanding. The Bombardier Family Agreement provides that all family groups systematically vote the same way.

Since the Bombardier Family Agreement's execution, the Principal Shareholders have always acted as representatives of their respective family group for the purposes of exercising certain rights under the Bombardier Family Agreement.

As at the date hereof, Janine, Claire, Huguette and André have ceased representing their respective family group under the Bombardier Family Agreement, and they have each designated one of their children ? Joanne Bissonnette, Pierre Beaudoin, Sylvie Fontaine and Charles Bombardier, respectively ? to act as representatives.

The change in representatives has not resulted in any change in the beneficial ownership of Bombardier's Class A shares and Class B shares held directly or indirectly by the Principal Shareholders. Furthermore, although only representatives have the power to exercise the voting rights attached to certain shares that are subject to the Bombardier Family Agreement, Janine, Claire, Huguette, and André alone have the power to make investment decisions in respect of these shares, and they therefore share control over these shares with the representatives.

The Principal Shareholders each hold, and have always held, their shares for investment purposes. They may choose to increase or decrease their interest in the Class A shares or Class B shares, or their control over these shares from time to time in the future, or they may take other measures in respect of the Bombardier securities that they directly or indirectly hold based on market or other relevant conditions, including in the context of a reorganization of their family's business, subject in each case to the applicable securities legislation.

A copy of the reports filed under Regulation 62-103 by each of the Principal Shareholders may be obtained at www.sedarplus.ca or by contacting Pierre Beaudoin by telephone at (514) 861-9481.

Addresses of the Principal Shareholders and head office of the Corporation:
Janine:
1603-1115 rue Sherbrooke Ouest
Montréal (Québec) H3A 1H3

Claire:
4300-1000 rue De La Gauchetière Ouest
Montréal (Québec) H3B 4W5

Huguette:
1130-1130 rue Sherbrooke Ouest
Montréal (Québec) H3A 2M8

André:
1535-800 boul. René-Lévesque Ouest
Montréal (Québec) H3B 1X9

Bombardier Inc.
400, chemin de la Côte-Vertu Ouest Dorval, Québec H4S 1Y9