CAE Completes $700 million Private Placement Subscription Receipt Offering CAE Completes $700 million Private Placement Subscription Receipt Offering

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CAE Completes $700 million Private Placement Subscription Receipt Offering

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Montreal. 04 March 2021. CAE announced that it has completed its previously announced private placements of subscription receipts (the “Private Placements“) to Caisse de dépôt et placement du Québec (“CDPQ“) and GIC Private Limited (“GIC“) of an aggregate of 22,400,000 subscription receipts at a price of $31.25 per subscription receipt for aggregate gross proceeds of C$700 million (approximately US$550 million).

The proceeds from the Private Placements will be held in escrow and are intended to be used by CAE to fund a portion of the purchase price for its previously announced proposed acquisition of L3Harris Technologies’ Military Training business (the “Acquisition“).

Each subscription receipt will entitle the holder to receive one common share of CAE as well as a commitment fee upon and subject to closing of the Acquisition.

The closing of the Acquisition is expected in the second half of calendar year 2021, subject to regulatory approvals and other customary closing conditions.

The subscription receipts and the common shares of CAE have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act“), or the securities laws of any state of the United States or province of Canada and may not be offered, sold or delivered, directly or indirectly, within the United States or to U.S. persons or in Canada except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and applicable state or Canadian securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, Canada or elsewhere.

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