CAE Inc. Common Shares AGM 2026

Good afternoon, everyone, and welcome to CAE's 2026 Annual Meeting of Shareholders. [Foreign language] Je suis Calin Rovinescu, président exécutif du conseil d'administration de CAE. Je suis heureux d'être ici à Montréal, au Québec, sur le territoire Kahnawà:ke, et d'accueillir les actionnaires qui se joignent à nous, à la fois en personne et virtuellement. I'm accompanied today by Matthew Bromberg, President and Chief Executive Officer, Mark Hounsell, Chief Legal Officer, who will act as secretary of the meeting, Ryan McLeod, Chief Financial Officer, and Samantha Golinski, Senior Vice President Communications. Today's meeting will be conducted in both French and English. Shareholders participating online may listen to the webcast and view the presentation slides in either language. To change languages, please select the language icon shown on the top right of your screen.

As was the case last year, the meeting is being held in a hybrid format. Shareholders and duly appointed proxy holders, regardless of their geographic location, may attend and participate in real time and cast their vote. [Foreign language] Passons maintenant à l'ordre du jour. Nous avons quelques points à aborder aujourd'hui. Outre le dépôt de nos états financiers, trois résolutions sont à l'étude. À la suite du vote sur ces résolutions, nous annoncerons les résultats préliminaires. Immédiatement après l'ordre du jour officiel, Monsieur Bromberg et moi-même nous adresserons à nos actionnaires afin de souligner les principales réalisations au cours de l'exercice et de parler de l'avenir de CAE. Ensuite, les actionnaires auront la possibilité de poser des questions d'ordre général.

I'd like to now ask Mr. Mark Hounsell, our corporate secretary, to present the forward-looking statement.

Thanks, Mr. Chair. Before we begin, I'd like to remind you that today's remarks, including answers to questions, contain forward-looking statements. These forward-looking statements represent our expectations as of today, August 12th, 2026, and accordingly are subject to change. Such statements are based on assumptions that may not materialize and are subject to risks and uncertainties. Actual results may differ materially, and listeners are cautioned not to place undue reliance on these forward-looking statements. A description of the risk factors and assumptions that may affect future results is contained in CAE's annual MD&A, available on our corporate website and in our regulatory filings with the Canadian Securities Administrators on SEDAR+ at sedarplus.ca and with the U.S. Securities and Exchange Commission on EDGAR at sec.gov. Let's now proceed with the formal portion of today's meeting. Mr. Chair, over to you.

Thank you, Mark. I now call to order the annual meeting of the corporation's shareholders. Mr. Mark Hounsell will act as secretary of the meeting. Our secretary has received the certificate of our transfer agent, Computershare Trust Company of Canada, indicating that proper notice of meeting has been given in accordance with the Canada Business Corporations Act and the bylaws of the corporation. I direct that a copy of the notice with proof of service be kept by the secretary with the records of this meeting. With the consent of the meeting, I appoint Martine Gauthier, representative of Computershare, as scrutineer of the meeting. Where are you, Madame Gauthier? Bonjour. Let us now turn to the meeting procedures.

CAE's bylaws provide that a quorum of shareholders is present at a meeting of shareholders if two or more persons holding not less than 25% of the shares entitled to vote at the meeting are present or represented by proxy. The scrutineer has advised that we have the necessary quorum present here today. I therefore now declare this meeting is regularly called and properly constituted for the transaction of business. I'd now like to ask the secretary of the meeting to explain the basic features of our meeting platform and how you can vote.

Thank you, Mr. Chairman. [Foreign language] Vous pouvez lire des renseignements sur CAE et poser des questions. Pour voir la présentation tout en écoutant notre webdiffusion, cliquez simplement sur l'icône de diffusion ou sur la flèche. Si vous souhaitez poser une question, veuillez sélectionner l'icône de messagerie et entrer votre question dans la boîte de dialogue dans le bas de l'écran. Cliquez sur le bouton Envoyer et vous devriez recevoir un accusé de réception. Vous pouvez poser vos questions en français ou en anglais. Veuillez noter que seuls les actionnaires inscrits ou les fondés de pouvoir valablement désignés sont autorisés à poser des questions. Madame Samantha Golinski suivra de près toutes les questions soumises et les transmettra au président du conseil ou au membre de la direction approprié.

S'il y a de nombreuses questions semblables sur le même sujet, Samantha peut en choisir une ou résumer la nature des questions. Je souhaite vous rappeler que les questions doivent être dignes d'intérêt pour tous les actionnaires. Elles ne doivent pas être de nature personnelle. Les actionnaires qui assistent à l'assemblée en personne seront invités à se rendre à l'un des microphones pour poser leurs questions pendant la période de questions. Si nous ne sommes pas en mesure de répondre à votre question durant l'assemblée ou si votre question est de nature personnelle, un représentant de CAE communiquera avec vous après l'assemblée. Voting on three resolutions will be conducted both online and in person. Only registered shareholders or validly appointed proxy holders may vote.

If you are attending the meeting in person and have not already voted by proxy, you have received today a tablet allowing you to cast your votes with the same ease as shareholders attending online. At the appropriate time, Mr. Chair will ask you to record your votes using your tablet. Following consideration of the last item of business, the scrutineers will tabulate the results of the votes. If you are attending the meeting online or using a tablet in person, you will see a voting icon on your screen and the resolution wording will be displayed. To vote, select one of the voting options. Your response will be highlighted. A confirmation message will appear to show that your vote has been received. To change your vote, simply select the other option.

If you do not select either For, Withhold, or Against as applicable when voting is open, your vote will not be recorded, and you will be regarded as having abstained from voting. In order for your vote to be properly recorded, it is important that you remain connected to the internet at all times. If you are not connected, your vote will not be recorded. The online polls are now open on all items of business. This will give you ample time to vote while we introduce each resolution. The chair will remind you of your choices for each item. After the last item of business, the chair will provide a reminder to input your vote before the polls are closed if you have not already done so.

You should know that while each of the votes cast today in person and online will be accounted for in the final results, proxies lodged with our registrar and transfer agent before this meeting allow the chair as proxy holder to determine the outcome of each of the motions that will go to a vote today. When each item of business is completed as a result of the proxies received in advance of the meeting, the chair intends to declare the motion carried or defeated even though all the votes may not have been counted or a final report may not yet be available. In order to facilitate the flow of the meeting, the chair has asked me as a registered shareholder to move all motions. The chair will call on me at the appropriate time.

Mr. Chair. [Foreign language] Je dépose maintenant le procès-verbal de l'assemblée annuelle et extraordinaire des actionnaires tenue le 13 août 2025.

Ce procès-verbal sera consigné sur le registre des procès-verbaux de la société. Des copies du procès-verbal seront disponibles sur demande. Le prochain point à l'ordre du jour consiste à présenter les états financiers et le rapport des auditeurs pour l'exercice se terminant le 31 mars 2026, dont des exemplaires ont été distribués aux actionnaires en mai. Je recevrai les questions portant sur les états financiers de la société au cours de la période de questions. We will now turn to the first item of business for which shareholders are asked to vote, the election of directors. The management proxy circular contains a list and biographical profile of the 13 nominees recommended for election as directors.

Each nominee was elected at our 2025 annual shareholders meeting, except for Mr. Bruce Ross, who is a first-time nominee. In addition to Matthew Bromberg and myself, the other director nominees are the following: Sophie Brochu, Patrick Decostre, Elise Eberwein, Ian L. Edwards, Marianne Harrison, Peter Lee, Catherine Lamon, Mary Lou Maher, Bruce Ross, The Honorable Patrick M. Shanahan, and finally, Louis Têtu. Many of our board members are still here today with us. Pursuant to a resolution adopted by the board of directors, the number of directors has been set at 13, and 13 eligible candidates have been nominated. Mark, may I ask you to move to elect each of the 13 nominees as directors?