Bombardier Statement Regarding Alstom Request for Arbitration

MONTRÉAL, April 25, 2022 (GLOBE NEWSWIRE) -- Bombardier (TSX: BBD.B) today announced that it has received a notice from Alstom S.A. requesting arbitration before the International Chamber of Commerce pursuant to the agreement relating to the sale by Bombardier of its Transportation business (Transportation) on January 29, 2021 (the Transaction). In its request for arbitration, Alstom is alleging that Bombardier is in breach of certain contractual provisions.

Bombardier has good grounds to defend itself against Alstom’s claim and intends to do so vigorously. As noted in its press release dated January 29, 2021, Bombardier also intends to challenge certain purchase price adjustments which resulted in proceeds from the Transaction being lower than initially estimated.

Arbitration proceedings could last several years. Given that Bombardier is subject to confidentiality obligations, it will abstain from commenting further on these proceedings unless required by applicable law.

About Bombardier

Bombardier is a global leader in aviation, focused on designing, manufacturing and servicing the world's most exceptional business jets. Bombardier’s Challenger and Global aircraft families are renowned for their cutting-edge innovation, cabin design, performance and reliability. Bombardier has a worldwide fleet of approximately 5,000 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals. Bombardier aircraft are also trusted around the world in special-mission roles.

Headquartered in Montréal, Québec, Bombardier operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico. The company’s robust customer support network includes facilities in strategic locations in the United States and Canada, as well as in the United Kingdom, Germany, France, Switzerland, Italy, Austria, the UAE, Singapore, China and an Australian facility opening in 2022.

For corporate news and information, including Bombardier’s Environmental, Social and Governance report, visit bombardier.com. Learn more about Bombardier’s industry-leading products and customer service network at businessaircraft.bombardier.com. Follow us on Twitter @Bombardier.

Forward-looking statements

Certain statements in this announcement are forward-looking statements based on current expectations. By their nature, forward-looking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the forward-looking statements. Please refer to our note on "Forward-Looking Statements” contained in our latest published financial report.

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