INDEPENDENT PROXY ADVISOR GLASS LEWIS RECOMMENDS VOTING FOR TRANSAT'S 8 NOMINEES AND AGAINST DISSIDENT SHAREHOLDER PROPOSALS

MONTRÉAL, Feb. 27, 2026 /CNW/ - Transat A.T. Inc. ("Transat") today announced that independent proxy advisory firm Glass Lewis has recommended that shareholders vote the BLUE proxy FOR all of Transat's eight (8) director nominees at the upcoming Annual General and Special Meeting of Shareholders scheduled to be held on March 10, 2026, at 9:00 a.m. (Montréal time). Glass Lewis has also recommended that shareholders vote in line with the Board's recommendations on all other items of business being put forward, including FOR Transat's amendment to its articles of incorporation to provide for a minimum of eight (8) and maximum of 15 directors and AGAINST or WITHHOLD from all dissident shareholder proposals being put forward by Financière Outremont Inc.

Glass Lewis' recommendation follows a detailed review of Transat's financial performance, capital structure, governance profile and the competing proposals before shareholders and concluded based on Transat's operational complexity and ongoing positive recovery that, "On balance, we conclude that shareholders would be better served by supporting the Management Nominees and voting against the Dissident's shareholder proposals at this time."

Glass Lewis also stated that, "While the Dissident Nominees bring experience in corporate leadership, capital markets, and consumer analytics, none appears to fill a demonstrable aviation-specific skill gap not already represented on the current slate."

In conclusion, Glass Lewis recommended shareholders vote AGAINST Proposal 6 to fix the Board size at six (6) and WITHHOLD from Proposals 7 to 9, which seek to elect the Dissident Nominees.

Susan Kudzman, Chair of the Board, said: "We are pleased that Glass Lewis has independently validated the strength of our recovery trajectory, the material improvement in our capital structure and the depth of expertise represented on our new Board. Transat's disciplined execution and continuity of leadership are the best path forward for shareholders at this important stage of our recovery."

The Board unanimously recommends that shareholders vote the BLUE proxy or voting instruction form FOR ALL of Transat's eight (8) nominees and does NOT support Financière Outremont Inc.'s dissident shareholder proposals.

Vote your BLUE Proxy by Friday, March 6, 2026 at 9:00 a.m. (Montréal time).

We encourage you to vote online or by telephone today. Do not risk your vote being received too late to be counted.

Shareholder Questions or Require Voting Assistance?

To have your say in Transat's future, vote your BLUE proxy or voting instruction form online or over the phone, or pursuant to one of the other methods outlined in your BLUE proxy or voting instruction form. For questions or if you require voting assistance, contact Transat's proxy solicitation agent, Laurel Hill Advisory Group by calling or texting "INFO" to 1-877-452-7184 (toll-free in North America) or 1-416-304-0211 (international), or by email at [email protected]. You may also visit the website votetransat.ca for more information on Transat's recommendations.

About Transat

Founded in Montreal in 1987, Transat has achieved worldwide recognition as a provider of leisure travel particularly as an airline under the Air Transat brand. Voted World's Best Leisure Airline by passengers at the 2025 Skytrax World Airline Awards, it flies to international destinations. By renewing its fleet with the most energy-efficient aircraft in their category, it is committed to a healthier environment, knowing that this is essential to its operations and the destinations it serves. Based in Montreal, Transat has nearly 5,000 employees with a common purpose to bring people closer together. (TSX: TRZ) www.transat.com

SOURCE Transat A.T. Inc.

For more information: Media, Andréan Gagné, Senior Director, Communications, Public Affairs and Corporate Responsibility, [email protected], 514 987-1616, ext. 104071; Financial analysts, Jean-François Pruneau, Chief Financial Officer,[email protected], 514-987-1660, ext. 104567