AEROPLAN 2.0 Transforming the

Canadian Coalition Model Around Member Value

Rupert Duchesne

October 1, 2013

AEROPLAN HAS ROOM FOR STRONG GROWTH IN CANADA

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Goals Loyalty Currently Capturing Only 50% of Total Household Expenditures

$1B

• Market share leadership

• Outstanding member satisfaction and engagement

• Exceptional value delivered to key partners

• Top line growth and cash flow generation

3.0

1.8

1.3

Market Opportunity

Current Aimia Penetration

Other

STARTING POINT: CANADA’S FLAGSHIP PREMIUM COALITION

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Canada’s Most Affluent Member Base

4.7 Million Active

Members

Leveraging the power of

our brand and member

base on behalf of our

partners…

…with our members as

our partners’ best

customers

Unique and Flexible Set of Partnership Models

EXCLUSIVE

CO-EXISTENCE

CONVERSION

PROMOTIONAL & OTHER

34 million

Canadians

TRANSFORMATION AIMED AT ADDING GROWTH TO AN IMPORTANT DRIVER OF GLOBAL GROSS BILLINGS

F2012 Aimia Consolidated

Gross Billings

$2.243B Coalition (Loyalty Units) – Canada

Coalition (Loyalty Units)

– EMEA

Proprietary and Other

Gross Billings from Sale of Loyalty Units $1.628B

High Volume Members

Low Volume Members

48%

27%

25%

Canadian Gross Billings $1.292B

34%

17% 10% 76%

24%

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Canadian Coalition

48%

Canada (Partner A)

EMEA (Partner B)

Canada (Partner C)

Canada (Air Canada)

All Other

34.0%

17.4% 9.8%

15.7%

23.1%

Canada

58%

AEROPLAN’S MEMBER-CENTRIC TRANSFORMATION IS DIRECTLY IN-LINE WITH OUR STRATEGIC PILLARS

Member Value

Partner Value

Coalition Value

Loyalty spend

advocacy

Invest in reward

value

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1

2

3

4

Strengthen our current position

Codify and replicate successful models globally

Evolve our operating model

Break away from the pack

LAUNCHING A TRANSFORMED AEROPLAN PROGRAM WITH TWO LEADING CANADIAN ISSUERS

* Rankings by purchase volume, 2012., based on Neilson Report, #1015, April 2013, adjusted to

account for the transfer of $20 billion in Purchase Volume from CIBC to TD post the transaction

** The number of cardholders does not include AMEX co-branded cards.

• The $38 billion Aeroplan financial card portfolio,

which represents around 12% of total purchase

volume in the Canadian credit card market and a

total of 1.2 million Cardholder accounts, was

confirmed as an attractive asset due to the

premium nature of the cardholder base

• The transaction shifts purchase volume of

approximately $20 billion from CIBC to TD

• Aimia’s ten year agreements, with two of Canada’s

largest credit card issuers, provide a strong and

stable platform from which to grow

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1st Largest bank by TPV*

3rd Largest bank by TPV*

4.7m Premium Members

1.2m Premium Credit Cardholders**

+

NEW AGREEMENTS SIGNED WITH TD AND CIBC

• New 10-year financial credit card agreements with each of TD and CIBC

• A purchase agreement between CIBC, TD, and Aimia, pursuant to which TD will acquire approximately half of the Aeroplan card portfolio from CIBC, which at September 2013, represented approximately:

– $38B+ of spend

– 1.2 million cards

– $6B of receivables

• TD purchasing ‘card-only’ accounts; positioned with exclusive right to mass market Aero credit card and broader banking products

• CIBC retaining accounts with banking relationships; positioned to continue originating new credit card accounts within proprietary Bank channels

• Both banks will introduce an enhanced suite of Aeroplan credit cards, including exciting new Distinction and Air Canada benefits from January 2014

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• Ground breaking transformation of the Aeroplan program, as announced in June 2013, which will drive longer-term growth and benefits to Air Canada

• Momentum and marketing behind the program with two leading credit card issuers to drive market share

• A straightforward conveyance of the Cardholders transitioning to TD, with Cardholders able to accumulate Aeroplan Miles seamlessly through the transition

• A strong and stable platform for Gross Billings growth with our financial card partners, with an increased price per mile and a stable cardholder base

• The balance sheet strength and financial flexibility to continue to invest in growth opportunities

WHAT THE AGREEMENTS DELIVER FOR SHAREHOLDERS

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Provide differentiated

experience and recognition

based on member value

Address key points of program

vulnerability

Initiate a multi-year journey to

rework the entire member experience

MEMBER-VALUE DRIVEN PROGRAM TRANSFORMATION WILL DRIVE PREMIUM SHARE GROWTH

Our program transformation shifts the emphasis to member satisfaction and engagement as the prime lever to drive growth and value creation

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Source: Aimia estimates

OUR NEW AIR TRAVEL REWARDS WILL BE UNPARALLELED IN THE MARKET

Getting Members to Departures Faster

Months to North American Long Haul Air Reward Redemption Market fare product

Fixed grid product

Notes: 1. Based on combined average card spend and coalition activity, and average Toronto-Vancouver fare 2. Card spend assumed to be the same

for all card products, not disclosed due to confidentiality. 3. Additional spend bonuses estimated for competitive cards (e.g., gas, grocery, drug, travel

spend). 4. Months required to reach reward exclude impact of welcome bonuses. 5. Fare Source: Average fare observed for Toronto – Vancouver

ClassicPlus rewards in 2012, confidential. 6. CIBC Aventura World Elite figure may differ depending on grid pricing at the time of redemption; figure

displayed assumes points required matches RBC Avion (35K).

Aeroplan Market Fare vs

ClassicFlight

Rewards

vs MarketFare

Rewards for

Distinction Diamond

Member

1.1x

1.8x 1.2x

1.8x 1.3x

2.7x 1.8x

1.7x

~12 Months Aeroplan ClassicFlight

Aeroplan CLASSICPLUS

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WHERE WE WILL GO

• Aeroplan focus is modest growth of premium membership base

• Primary goal is to generate higher gross billings by upgrading the membership profile

• New capabilities and data will allow for more strategic and valuable use of miles (e.g., recent announcement on higher earn rates on higher Air Canada fare class tickets)

4,366

2012

+10%

2010

4,821

2009 2013 YTD

4,570 4,663 4,728

2011

Aeroplan Active Membership Base

Thousands of 12-month Active Members

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Aeroplan reinvigorated by delivering outstanding member and partner value

Differentiated leadership position built on unique data, brand strength, analytics capability and aligned models

DRIVING CONTINUED LEADERSHIP IN THE CANADIAN COALITION PROGRAM

“Be the recognized global leader in loyalty, inspiring brands to build

unparalleled relationships with their customers by

making engagement more rewarding, lasting, and fun”

Strengthen our current position

Codify and replicate successful models globally

Evolve our operating model

Break away from the pack

Strategic Aspiration Strategic Pillars Vision of Success

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2

3

4

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