Cargojet Announces Inaugural Issuer Credit Rating of BBB (low) With a Stable Trend by Morningstar DBRS

MISSISSAUGA, ON, June 19, 2025 /CNW/ - Cargojet Inc. ("Cargojet" or the "Corporation") (TSX: CJT) today announced that Morningstar DBRS has assigned the Corporation an investment-grade issuer credit rating of BBB (low), with a stable trend. In assigning the rating, Morningstar DBRS cited Cargojet's contracted recurring revenue profile, efficient operations, leading market position in the Canadian domestic overnight air cargo market, and commitment to maintaining leverage within its publicly stated target range.

"The assignment of an investment-grade credit validates the strength of our diversified portfolio of Domestic, Charters and ACMI offerings and disciplined approach to cost management," said Jamie Porteous, Co-Chief Executive Officer.

"This achievement reinforces our strategic objectives of strengthening our financial position while continuing to build a platform focused on long-term sustainable growth. It also provides us the flexibility to pursue opportunities to improve our cost of capital and strengthen our balance sheet depending on market conditions" said Pauline Dhillon, Co-Chief Executive Officer.

The Corporation also announced that it has posted an updated investor presentation to the Investor section of its website at: www.cargojet.com/investors.

About Cargojet

Cargojet is Canada's leading provider of time sensitive premium air cargo services to all major cities across North America, providing dedicated, ACMI and international charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 41 cargo aircraft.

Notice on Forward-Looking Statements:

Certain statements contained herein constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans", "intends", "anticipates", "should", "estimates", "expects", "believes", "indicates", "targeting", "suggests" and similar expressions, and includes statements relating to potential opportunities to improve the Corporation's cost of capital and strengthen its balance sheet. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Reference should be made to the Corporation's most recent Annual Information Form filed with the Canadian securities regulators, and its most recent Consolidated Financial Statements and Notes thereto and related Management's Discussion and Analysis, for a summary of major risks. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Without limiting the foregoing, there can be no assurance that the Corporation will maintain an investment grade credit rating or improve its cost of capital on favourable terms. The forward-looking statements contained in this news release represent Cargojet's expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Cargojet disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities laws. In the event Cargojet does update any forward-looking statement, no inference should be made that Cargojet will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

SOURCE Cargojet Inc.

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