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We operate in highly regulated industries with mandatory and recurring training requirements for maintaining professional certifications. Our long-term agreements with many airlines, business aircraft operators and defence forces are also an important source of our recurring business.

Our global training centre network, unique end-to-end cadet-to-captain training solutions, TSI expertise, unrivalled customer proximity and strong, recognizable brand strengthen this moat.

Significant untapped market opportunities exist in our three growing core businesses. While we are a market leader in civil aviation, we address less than 33% of an approximately $3.5 billion training market. In defence and security, we have a 7% share of the approximately $15 billion TSI market. In healthcare, we are the innovation leader in the simulation-based healthcare education and training market. We see significant opportunities for long-term growth as the healthcare market increasingly adopts simulation as a means of training.

Both the civil aviation and defence sectors are enjoying strong tailwinds. In civil aviation, air passenger traffic is expected to grow by 4.2% annually until 2027. To address both this growth and the rate of pilot retirement, we estimate that airlines will need to create thousands of new pilots during the same period. For defence and security markets, budgets are expected to rise and defence forces are increasingly turning to the safety, flexibility and cost benefits of training system integration to ensure mission readiness. The interest in healthcare simulation is also growing in line with the increasing concern around medical errors and patient safety.

At CAE, we believe we have the potential to grow faster than the underlying markets and that our large backlog and recurring revenue profile places us in an ideal position.

Innovation is part of our DNA and our people make it happen. In collaboration with our customers, we design and deliver the most sophisticated training solutions in the world. Through our thought leadership and innovative solutions and partnerships, we are shaping the future of training. At the same time, we are increasingly becoming the recognized worldwide training partner of choice.

Toronto Stock Exchange (TSX): under the ticker symbol "CAE"
New York Stock Exchange (NYSE): under the ticker symbol "CAE"

PricewaterhouseCoopers, Chartered Accountants.

Please contact CAE's transfer agent, Computershare or your broker:

www.computershare.com

Tel: 1-800-564-6253 (North America) | 1-514-982-7555 (International)

Obtaining CAE's annual and quarterly financial reports:

To obtain a hardcopy send an email to: [email protected].

Many of our documents and public filings can be downloaded in PDF format above and are also archived at: www.sedar.com and at www.sec.gov/edgar.shtml.

• June 1963 Stock Split 3 for 1
• July 5, 1965 Stock Split 3 for 2
• July 4, 1979 Stock Split 3 for 1
• July 6, 1981 Stock Split 3 for 1
• July 3, 1984 Stock Split 2 for 1
• July 3, 1986 Stock Split 2 for 1
• July 9, 2001 Stock Split 2 for 1

CAE shares may be purchased through a security broker. The company does not offer a direct purchase program.

On V-Day December 22^nd 1971, CAE Inc. stock value was $4.65 CAD.