Mississauga, ON, December 29, 2023 – Cargojet Inc. (“Cargojet” or the “Corporation”) (TSX: CJT) announced today (the “Redemption Date”) that it has redeemed the $86,250,000 aggregate principal amount outstanding on its 5.75% senior unsecured hybrid debentures due April 30, 2024. The Corporation paid the principal amount and all accrued and unpaid interest up to, but excluding, the Redemption Date, in cash.

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 39 cargo aircraft.

For further information, please contact:

Pauline Dhillon

Chief Corporate Officer

Tel: (905) 501-7373