Aimia receives $8.8M tax refund following reassessment

Executive Summary

• Aimia Inc. has received an $8.8 million tax refund from Revenu Quebec, bringing the total cumulative refund related to the 2013 income tax audit of a former subsidiary to $38.1 million (including net interest).
• The company considers the audit matter fully closed and expects no further refunds or payments from this specific audit.
• Aimia intends to utilize the proceeds to support its 2025-2026 normal course issuer bid and for general investment purposes.

Key Details

• Refund Amount: $8.8 million received from Revenu Quebec, including net interest proceeds.
• Cumulative Total: The company has now received a combined total of $38.1 million in tax refunds (including net interest) related to the 2013 income tax audit of a former subsidiary.
• Audit Status: The matter is considered closed by Aimia; no further refunds or payments are expected as a result of this audit.
• Use of Proceeds: The funds will be used to support the company's 2025-2026 normal course issuer bid and for general investment purposes.
• Background: The refund relates to the final processing of notices of reassessment from Revenu Quebec regarding a 2013 income tax audit of a company's former subsidiary.