Page 23 - May 2020

 A projected revenue loss of 40 to 50 per cent in 2020 because of the impact of COVID-19 on travel and as
of March 31:

o All airport or airline lounges are closed,

o 80 per cent of food/beverage and retail outlets closed,
o 90 per cent decline in parkade occupancy,

o 90 per cent decline in rental car volumes,
o 90 per cent reduction in taxi and ride share demand.

 Simultaneously, some costs have increased, including increased cleaning, staffing and communications

efforts aimed at controlling the spread of COVID-19.
 YYC has deferred almost all capital spending and halted discretionary spending.

 The Authority made the difficult decision to reduce its workforce by approximately one-third. Executive
leaders and senior management positions took salary reductions.

“The community is counting on YYC Calgary International Airport to make it through these changes and

continue serving as a regional gateway grounded in safety and security for connecting loved ones, facilitating
travel adventures, moving critical cargo and driving the economy,” added Sartor.

Readers are cautioned not to place undue reliance on forward-looking statements as actual results may differ

materially from those expressed or implied.