Transat A.T. mails information circular for AGSM

Executive Summary

• Transat A.T. Inc. has filed and commenced the mailing of its Management Information Circular (MIC) and Notice of Meeting for its Annual General and Special Meeting of Shareholders scheduled for March 10, 2026.
• The company is contesting the election of its board of directors, urging shareholders to vote "blue" for its proposed slate of eight nominees. The board unanimously recommends voting for all eight nominees.
• Transat reports receiving voting support from two key large shareholders, Fonds de solidarité des travailleurs du Québec (FTQ) and La Caisse de dépôt et placement du Québec, which together hold 16.1% of the voting shares. Two nominees were nominated by these entities pursuant to support and voting agreements.

Key Details

• Meeting Details:
  • Date: March 10, 2026, at 9 a.m. Montreal time.
  • Voting Deadline: March 6, 2026, at 9 a.m. Montreal time.
  • Documents Filed: Notice of Meeting, Management Information Circular, and related documents.
• Board Nominees (8 Total):
  • Christiane Bergevin: New independent nominee; former executive at Hydro One and Desjardins Group; President of Bergevin Capital; director of Iamgold Corp., Azimut Exploration Inc., and RATP Dev.
  • Daniel Desjardins: Returning director (since 2022); former Bombardier lawyer; director of Velan Inc., Legal Leaders for Diversity Trust Fund, and Pointe-à-Callière Museum.
  • Marie-Pierre Dhers: New nominee put forward by FTQ; former senior executive at Air France-KLM; expertise in operational turnarounds and corporate development.
  • Michael R. DiLollo: New nominee put forward by La Caisse; experienced aviation executive and pilot; Managing Director, Capital Solutions at La Caisse; Chairman of EINN Volant Aircraft Leasing Holding; former CEO of Caribbean Airlines.
  • Vincent Duhamel: New independent nominee; former Global President and COO of Fiera Capital; director of Idealist Capital and Thrust Capital Partners.
  • Annick Guerard: Returning director (since 2021); former President and CEO of Transat.
  • Stephane Lefebvre: Returning director (since 2022); CEO of Solotech Inc.; former CEO of Cirque du Soleil Group and CFO of CAE Inc.
  • Bruno Matheu: Returning director (since 2023); executive with experience in airline transformation; board member of IAG (International Airlines Group).
• Shareholder Support & Governance:
  • FTQ and La Caisse: Hold 16.1% of voting shares; nominated Marie-Pierre Dhers and Michael R. DiLollo respectively under support and voting agreements.
  • Financière Outremont: Offered one board seat due to ownership of less than 10% of outstanding shares; declined the proposal.
  • Board Composition: The slate reflects a balance of continuity and new expertise in aviation, operations, restructuring, finance, and transformation.
• Company Performance Narrative:
  • Transat states its recovery plan is working, having stabilized operations, strengthened financial performance, and preserved shareholder value after a challenging period.
  • The company aims to return to a profitable growth path and build long-term value.
• Voting Instructions:
  • Shareholders are urged to vote via the "Vote Transat" website, by mail, phone, or fax.
  • Assistance available via Laurel Hill Advisory Group ([email protected], 1-877-452-7184).