Company Announcements

HALIFAX, NS , Feb. 12, 2026 /CNW/ - Chorus Aviation Inc. ('Chorus') (TSX: CHR) is pleased to announce that it has entered into an agreement to acquire Kadex Aero Supply Ltd. ('Kadex'), a leading independent distributor of aircraft parts, supplies and repair and overhaul services. The acquisition is expected to close during the second quarter of 2026.

Kadex, a private company founded by principals John Lavery and Ken Blow in 1994, generated approximately $60 million¹ in revenue in 2025. Kadex employs approximately 50 people across two locations, with its main location in Peterborough, Ontario and a regional supply location in Calgary, Alberta.  The company's strong partnerships with over 70 different original equipment manufacturers ('OEM') and deep technical expertise provide its customers with value-added one-stop shopping.

"This acquisition represents a significant step forward in our strategy to grow and diversify Chorus' aviation, aerospace and defence services," said Colin Copp, President and Chief Executive Officer, Chorus. "Kadex is a highly respected company with strong OEM and customer relationships and has a proven operating model with a growing revenue stream that is expected to enhance the durability of our earnings profile."

"Kadex will add a complementary platform to our used serviceable materials business, delivering consistent cash flows aligned with our long‑term focus on shareholder value," noted Mr. Copp. "We look forward to welcoming John, Ken, and the entire Kadex team to Chorus, as they continue to build on the strong foundation they have created for the Kadex brand and reputation."

"Over the past 30 plus years, we have been focused on building a leading company committed to servicing our customers' aviation supply needs. Becoming part of the Chorus family of businesses is an exciting next step for Kadex and our employees - and we look forward to working with the Chorus team as we continue to grow our business," said John Lavery, President and CEO, Kadex.

Acquisition Details

On February 12, 2026, Chorus entered into an agreement to acquire Kadex for total consideration of approximately $50 million, subject to customary adjustments inclusive of contingent consideration. The purchase price will be funded by $43 million in cash with the remainder of the purchase price payable over the next two years subject to meeting certain performance targets. This acquisition is subject to customary closing conditions and is expected to close during the second quarter of 2026.

The acquisition is expected to be immediately accretive to Chorus' earnings and cash flow from the date of closing and Kadex will significantly expand and grow our aircraft parts sales business. The acquisition of Kadex will be financed through cash.

This acquisition aligns with Chorus' disciplined approach to capital allocation, focusing on high‑return opportunities while reinforcing stable cash flows and delivering sustainable shareholder value.

Kadex will provide Chorus with enhanced service breadth especially in the aviation parts market, deep customer relationships and advances Chorus' goal of building a diversified and complementary aviation, aerospace and defence platform.

All dollar amounts are expressed in Canadian dollars.

Forward-Looking Information

This news release includes forward-looking information and statements within the meaning of applicable securities laws (collectively, "forward-looking information"). Forward-looking information is identified by the use of terms and phrases such as "aims", "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "potential", "predict", "project", "will", "would", and similar terms and phrases, including negative versions thereof. Forward-looking information may relate to, among other things, the anticipated completion of the acquisition of Kadex, the method of financing for the acquisition; the expected timing thereof, expected financial condition, operations and prospects of Kadex; the satisfaction of closing conditions, the estimated purchase price, the fact that the acquisition of Kadex is expected to be immediately accretive to Chorus' earnings and free cash flows; and the impact of the acquisition on the Chorus' future financial position, financial performance and operating results. All information and statements other than statements of historical fact are forward-looking and by their nature, are based on various underlying assumptions and expectations that are subject to known and unknown risks, uncertainties and other factors that may cause actual future results, performance or achievements to differ materially from those indicated in the forward-looking information. As a result, there can be no assurance that the forward-looking information included in this news release will prove to be accurate or correct.

Forward-looking information is based on reasonable assumptions made by management as of the date hereof, including: information regarding the timing of completion of the acquisition of Kadex on the terms set out in the purchase and sale agreement and in a manner consistent with management expectations; the timing of completion of the acquisition of Kadex; the ability of the parties to satisfy closing conditions, the accuracy of management's assessment of the effects of the completion of the acquisition of Kadex, including the successful integration of the acquired operations and ability to generate synergies consistent with management's expectations; the retention of key personnel; the ongoing consistent financial performance of Chorus; and general economic and market conditions. However, these assumptions may prove to be incorrect, and forward-looking information is subject to significant risks and uncertainties that could cause actual results to differ materially. These risks include, but are not limited to, the risk that the acquisition may not be completed as anticipated, unforeseen integration or operational challenges, loss of key employees or customers, changes in business or economic conditions, and other risks set forth in Chorus' Annual Information Form dated February 12, 2026, and in Chorus' public disclosure record available under its profile on SEDAR+ at www.sedarplus.ca.

The forward-looking information contained in this news release represents Chorus' expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, subsequent events or otherwise, except as required by applicable securities laws. Readers are cautioned that the foregoing factors and risks are not exhaustive.

About Chorus Aviation Inc.

Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional airline in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines and Elisen & Associates, a leading provider of aerospace engineering and certification services. Together, Chorus' subsidiaries provide services that encompass every stage of an aircraft's lifecycle, including: contract flying; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training.

Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. Chorus' 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange under the trading symbol 'CHR.DB.C'.  For further information on Chorus, please visit www.chorusaviation.com.

SOURCE Chorus Aviation Inc.