Mach Waives Financing Condition for its Acquisition of Transat

MONTREALJune 25, 2019 – Group Mach Inc. (“Mach”) is pleased to announce its non-binding agreement with the Government of Quebec in connection with Mach’s formal proposal to acquire all issued and outstanding voting shares (the “Shares”) of Transat A.T. Inc. (TSX: TRZ) (“Transat” or the “Company”) at a price of $14.00 cash per Share to the attention of the Board of Directors of Transat as announced in Mach’s press release of June 14, 2019 (the “Proposal”). As such, Mach has deposited today an amended version of its Proposal with the Board of Directors of Transat by, in particular, removing conditions related to financing from the Government of Quebec and the execution of support and voting agreements with the Fonds de solidarité FTQ and the Caisse de dépôt et placement du Québec (the “Amended Proposal”).