Aimia : Q2 2022 Financial Highlights

Q2 2022 highlights

AUGUST 12, 2022

FORWARD-LOOKING AND CAUTIONARY STATEMENTS

This presentation contains statements that constitute "forward-looking information" within the meaning of Canadian securities laws ("forward-looking statements"), which are based upon our current expectations, estimates, projections, assumptions and beliefs. All information that is not clearly historical in nature may constitute forward-looking statements. Forward-looking statements are typically identified by the use of terms such phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would" and "should", and similar terms and phrases, including references to assumptions.

Forward-looking statements in this presentation include, but are not limited to, the earn-out in connection with the PLM transaction; the use of proceeds from the PLM transaction, including the allocated amount and any returns to shareholders; purchases under the current NCIB; payment of dividends; the use of Aimia's tax losses; the impacts of COVID-19 on Clear Media and their mitigation by Clear Media, the current and futures strategic initiatives and investment opportunities.

Forward-looking statements, by their nature, are based on assumptions and are subject to known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the forward-looking statement will not occur. The forward-looking statements in this presentation speak only as of the date hereof and reflect several material factors, expectations and assumptions. Undue reliance should not be placed on any predictions or forward-looking statements as these may be affected by, among other things, changing external events and general uncertainties of the business. A discussion of the material risks applicable to us can be found in our current Management Discussion and Analysis and Annual Information Form, each of which have been or will be filed on SEDAR and can be accessed at www.sedar.com. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and we disclaim any intention and assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

There are also risks inherent to the anticipated use of proceeds from the PLM transaction described in this presentation, including reduction to the final amount of net proceeds from the PLM transaction that could ultimately be allocated to share buybacks and/or tax-efficient special dividend to common shareholders due to the then market conditions, investment opportunities and other relevant factors, and failure to make any share buybacks (whether through purchases under the NCIB or otherwise) and/or to pay any tax-efficient special dividend. Accordingly, there can be no assurance that the anticipated use of proceeds will be completed, or that it will be completed in the manner, or at the time, contemplated in this presentation. The anticipated use of proceeds as described in this presentation could be modified or not occur at all.

© 2022 Aimia. All rights reserved.

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NON-GAAP FINANCIAL MEASURES

Following the Corporation strategic update, Aimia does not present Non-GAAP financial measures for its consolidated results. However, in order to complement the analysis of the financial performance of its investments, certain Non-GAAP measures are presented. A reconciliation to Kognitiv's Adjusted EBITDA to its most comparable GAAP measure is provided in our MD&A section - "Non-GAAP Financial Measures for Investments".

Kognitiv Adjusted EBITDA

Adjusted EBITDA for Kognitiv ("Kognitiv Adjusted EBITDA") is earnings before net financial income (expense) and net income tax expense adjusted to exclude depreciation, amortization, shared-based compensation, restructuring expenses, business acquisition/disposal related expenses and impairment charges related to non-financial assets. Kognitiv Adjusted EBITDA is not a measure based on GAAP, is not considered an alternative to net earnings in measuring profitability, does not have a standardized meaning and is not comparable to similar measures used by other issuers. Kognitiv Adjusted EBITDA is used by Aimia and Kognitiv's management to evaluate performance. Aimia and Kognitiv's management believe Adjusted EBITDA assists investors in comparing Kognitiv's performance on a consistent basis excluding depreciation, amortization, impairment charges related to non-financial assets, share-based compensation, which are non-cash in nature and can vary significantly depending on accounting methods as well as non-operating factors such as historical cost. Aimia and Kognitiv's management believe that the exclusion of restructuring and business acquisition/disposal related expenses assists investors by excluding expenses that are not representative of the run-rate cost structure of Kognitiv.

Clear Media EBITDA

EBITDA for Clear Media ("Clear Media EBITDA") is earnings (loss) before tax adjusted to exclude finance costs, depreciation of property, plant and equipment, amortization of concession rights, amortization of right-of-use assets, interest income and foreign exchange gain (loss). Clear Media EBITDA is not a measure based on GAAP, is not considered an alternative to net earnings in measuring profitability, does not have a standardized meaning and is not comparable to similar measures used by other issuers. Clear Media EBITDA is used by Aimia and Clear Media's management to evaluate performance. Aimia and Clear Media's management believe EBITDA assists investors in comparing Clear Media's performance on a consistent basis excluding depreciation of property, plant and equipment, amortization of concession rights, amortization of right-of-use assets, which are non-cash in nature and can vary significantly depending on accounting methods as well as non-operating factors such as historical cost. The Clear Media EBITDA is presented for the Clear Media operating company (and its subsidiaries) only, is based on current accounting standards (which include the IFRS 16 - Leases standard) and excludes financial results of Ever Harmonic Global Limited ("Ever Harmonic") as well as any purchase price acquisition adjustments from the consolidation of Clear Media in Ever Harmonic, the immediate parent of Clear Media. Aimia's indirect investment in Clear Media is structured through a 10.85% investment in Ever Harmonic. A reconciliation of Clear Media EBITDA to its most comparable GAAP measure is provided at the end of this presentation.

© 2022 Aimia. All rights reserved.

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PRESENTATION OF FINANCIAL INFORMATION

The financial information of Aimia, Clear Media, and Kognitiv referred to in this presentation is reported in Canadian dollars (unless otherwise indicated) and have been prepared in accordance with GAAP.

The financial information of TRADE X referred to in this presentation is reported in Canadian dollars (unless otherwise indicated) and has been provided by TRADE X's management team. Certain of the financial information of TRADE X referred in this presentation is preliminary and subject to completion of TRADE X's financial closing procedures and is based on a number of assumptions and are not necessarily indicative of the results to be expected for any future period as a result of various factors. During the course of the TRADE X's financial closing procedures, adjustments to the preliminary estimates may be identified, and such adjustments may be material.

© 2022 Aimia. All rights reserved.

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TODAY'S SPEAKERS

PHIL MITTLEMAN	MICHAEL LEHMANN	STEVE LEONARD
Chief Executive Officer	President	Chief Financial Officer

© 2022 Aimia. All rights reserved.

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