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CAE receives regulatory approval for normal course issuer bid

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MONTREAL, May 27, 2024 /CNW/ – (NYSE: CAE) (TSX: CAE) – CAE Inc. today announced that it has received regulatory approval to proceed with its previously-announced normal course issuer bid (“NCIB”) to purchase, for cancellation, up to 15,932,187 of its common shares commencing May 30, 2024 and ending May 29, 2025.

The maximum number of common shares that may be repurchased under the program represents approximately five percent (5%) of the issued and outstanding common shares of CAE. The actual number of common shares purchased under the NCIB, the timing of purchases and the price at which the common shares are bought will depend upon management discretion based on factors such as market conditions.

Purchases under the NCIB will be made through the facilities of the Toronto Stock Exchange (“TSX”) in accordance with the TSX’s applicable policies or the facilities of the New York Stock Exchange (“NYSE”) in compliance with applicable NYSE rules and policies and U.S. laws, or in such other manner as may be permitted under applicable stock exchange rules and applicable securities laws, including through alternative Canadian and US trading platforms and privately-negotiated, off-exchange block purchases. In the case of off-exchange block purchases, purchases will be at a discount to the prevailing market price in accordance with and subject to the terms of applicable exemptive relief.

RBC Dominion Securities Inc. (“RBC”) has agreed to act as CAE’s designated broker to make purchases of common shares pursuant to the NCIB. CAE has also entered into an automatic share purchase plan (“ASPP”) with RBC allowing it to purchase common shares under the NCIB when the company would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed black-out periods. Before entering a black-out period, CAE may, but is not required to, instruct RBC to make purchases under the NCIB during such a period based on parameters set by CAE in accordance with the ASPP, TSX Rules and applicable securities laws. All purchases made under the ASPP are included in computing the number of common shares purchased under the NCIB. The ASPP has been pre-cleared by the TSX and will be implemented and effective June 3, 2024. The price CAE will pay for any common shares will be the market price at the time of acquisition, plus brokerage fees. All common shares purchased pursuant to the NCIB will be cancelled.

During the period that the NCIB is outstanding, CAE does not intend to make purchases of its common shares other than by means of open market transactions or such other means as may be permitted or approved by any applicable securities regulator.

The average daily trading volume of CAE’s common shares through the facilities of the TSX over the last six completed calendar months was 605,257 (“ADTV”). Accordingly, under the TSX Rules and policies, CAE is entitled on any trading day to purchase up to 25% of the ADTV, which totals 151,314 common shares, for the next 12-month period of the NCIB. In excess of the daily repurchase limit, CAE may also purchase, once a week, a block of common shares not owned by any insiders, which may exceed such daily limit, in accordance with the TSX Rules.

As of May 16, 2024, CAE had 318,643,758 common shares issued and outstanding. CAE has not repurchased any of its common shares during the last twelve months.  

The NCIB is being established as part of CAE’s capital allocation strategy. The Board of Directors of CAE believes that any purchases made under the NCIB will be in the best interest of CAE and that such purchases will constitute a desirable use of funds that should enhance shareholder value.

About CAE

At CAE, we equip people in critical roles with the expertise and solutions to create a safer world. As a technology company, we digitalize the physical world, deploying software-based simulation training and critical operations support solutions. Above all else, we empower pilots, cabin crew, maintenance technicians, airlines, business aviation operators, and defence and security forces to perform at their best every day and when the stakes are the highest. Around the globe, we’re everywhere customers need us to be with approximately 13,000 employees in more than 240 sites and training locations in over 40 countries. CAE represents more than 75 years of industry firsts – the highest-fidelity flight and mission simulators as well as training programs powered by digital technologies. We embed sustainability in everything we do. Today and tomorrow, we’ll make sure our customers are ready for the moments that matter.

Caution concerning forward-looking statements

This press release includes forward-looking statements, including in connection with CAE’s NCIB, ASPP and future purchases of common shares pursuant to the NCIB. Since forward-looking statements and information relate to future events or future performance and reflect current expectations or beliefs regarding future events, they are typically identified by words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “likely”, “may”, “plan”, “seek”, “should”, “will”, “strategy”, “future” or the negative thereof or other variations thereon suggesting future outcomes or statements regarding an outlook. All such statements constitute “forward-looking statements” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995.

By their nature, forward‑looking statements require us to make assumptions and are subject to inherent risks and uncertainties associated with our business which may cause actual results in future periods to differ materially from results indicated in forward‑looking statements. While these statements are based on management’s expectations and assumptions regarding historical trends, current conditions and expected future developments, as well as other factors that we believe are reasonable and appropriate in the circumstances, readers are cautioned not to place undue reliance on these forward-looking statements as there is a risk that they may not be accurate. The forward-looking statements contained in this press release describe our expectations as of May 27, 2024 and, accordingly, are subject to change after such date. Specifically, there can be no assurance as to how many shares, if any, will ultimately be acquired under CAE’s NCIB. Except as required by law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. The forward-looking information and statements contained in this press release are expressly qualified by this cautionary statement. In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this press release. While we believe that information provides a reasonable basis for these statements, that information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. Except as otherwise indicated by CAE, forward-looking statements do not reflect the potential impact of any special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may occur after May 27, 2024. The financial impact of these transactions and special items can be complex and depends on the facts particular to each of them. We therefore cannot describe the expected impact in a meaningful way or in the same way we present known risks affecting our business. Forward-looking statements are presented in this press release for the purpose of assisting investors and others in understanding certain key elements of CAE’s NCIB. Readers are cautioned that such information may not be appropriate for other purposes.

Contacts

General Media:
Samantha Golinski, Vice President, Public Affairs & Global Communications, +1-438-805-5856, samantha.golinski@cae.com

Investor Relations:
Andrew Arnovitz, Senior Vice President, Investor Relations and Enterprise Risk Management, +1-514-734-5760, andrew.arnovitz@cae.com

View original content:https://www.prnewswire.com/news-releases/cae-receives-regulatory-approval-for-normal-course-issuer-bid-302156229.html

SOURCE CAE Inc.

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Robert Half Wins Two Stevies® in the 2025 American Business Awards

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MENLO PARK, Calif., May 5, 2025 /PRNewswire/ — Global talent solutions and business consulting firm Robert Half (NYSE: RHI) has been named the winner of two Stevies in the 23rd Annual American Business Awards. The company was honored for Best Artificial Intelligence/Machine Learning Solution and Technology Executive of the Year.

Robert Half received Best Artificial Intelligence/Machine Learning for its AI Recommended Clients (ARC) tool—an advanced solution that leverages AI to help talent solutions professionals identify and engage the right clients at the right time. James Johnson, executive vice president and chief technology officer, was also named among the Technology Executives of the Year for his leadership in advancing the company’s innovation strategy, including the development of ARC.

“This recognition highlights our commitment to innovation and delivering world-class technology solutions that drive business growth,” said M. Keith Waddell, president and chief executive officer of Robert Half. “We’re proud of James Johnson and his team for their critical contributions to these achievements.”

The American Business Awards is the premier business awards program in the United States. More than 3,600 nominations from organizations of all sizes and in virtually every industry were submitted for consideration in a wide range of categories.

Robert Half has also been named one of Fortune’s 2025 America’s Most Innovative Companies and a winner of the 2025 CIO 100 Award.

About Robert Half
Robert Half (NYSE: RHI) is the world’s first and largest specialized talent solutions and business consulting firm, connecting highly skilled job seekers with rewarding opportunities at great companies. We offer contract talent and permanent placement solutions in the fields of finance and accounting, technology, marketing and creative, legal, and administrative and customer support, and we also provide executive search services. Robert Half is the parent company of Protiviti®, a global consulting firm that delivers internal audit, risk, business and technology consulting solutions. In the past 12 months, Robert Half, including Protiviti, has been named one of the Fortune® Most Admired Companies™ and 100 Best Companies to Work For. Explore talent solutions, research and insights at roberthalf.com

About the Stevie Awards 
Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, the Stevie Awards for Sales & Customer Service, and the new Stevie Awards for Technology Excellence. Stevie Awards competitions receive more than 12,000 entries annually from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at https://stevieawards.com.

 

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SOURCE Robert Half

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Stratolaunch Successfully Completes Reusable Hypersonic Flight and Recovery with Talon-A2 Vehicle

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MOJAVE, Calif., May 5, 2025 /PRNewswire/ — Stratolaunch is pleased to announce the successful completion of its second hypersonic flight and recovery with the Talon-A2 (TA-2) fully autonomous vehicle in March 2025. We are also pleased to share that this significant accomplishment followed the successful first hypersonic flight of Talon-A2 in December 2024 confirming the demonstrated reusability of the vehicle. The vehicle surpassed Mach 5 during its trajectory for the second time, exceeding the previous speed record set with the December flight.

“With the data collected from this second flight, we are able to apply lessons learned to enhance the strength and performance of the Talon-A vehicles. While the team needs to complete its data review of flight two, the first flight review confirmed the robustness of the Talon-A design while demonstrating the ability to meet the full range of performance capabilities desired by our customers. We’ve now demonstrated hypersonic speed, added the complexity of a full runway landing with prompt payload recovery, and proven reusability. Both flights were great achievements for our country, our company, and our partners,” said Dr. Zachary Krevor, President and CEO of Stratolaunch. 

Supporting the United States’ defense initiatives, Stratolaunch is focused on expanding its hypersonic flight testing and ensuring the long-term sustainability of reusable hypersonic testbeds. These completed flights demonstrate the United States’ return to reusable hypersonic flight test since the X-15 program ended in 1968.

“I am in awe of what this team has achieved. We’ve executed four incredible Talon-A flights, completed twenty-four Roc flights to date, flew two new supersonic and hypersonic airplanes in a single year, and we are firmly on the path to making hypersonic flight test services a reality,” Krevor said.

Stratolaunch performed the flights for the Test Resource Management Center (TRMC) Multi-Service Advanced Capability Hypersonic Test Bed (MACH-TB) program under a partnership with Leidos. The MACH-TB program is intended to increase the speed of testing for all commercially available hypersonic systems. This was the second Stratolaunch flight completed on behalf of the program.

“These flights were a huge success for our program and for the nation. The data collected from the experiments flown on the initial Talon-A flight has now been analyzed and the results are extremely positive. The opportunity for technology testing at a high rate is highly valuable as we push the pace of hypersonic testing. The MACH-TB program is pleased with the multiple flight successes while looking forward to future flight tests with Stratolaunch,” said Scott Wilson, Program Manager of MACH-TB.

“Demonstrating the reuse of fully recoverable hypersonic test vehicles is an important milestone for MACH-TB,” stated George Rumford, Director of the Department of Defense Test Resource Management Center. “Lessons learned from this test campaign will help us reduce vehicle turnaround time from months down to weeks.”

About Stratolaunch

Stratolaunch’s mission is to advance high-speed technology through innovative design, manufacturing, and operation of world-class aerospace vehicles. For the latest news and information, visit www.stratolaunch.com and follow us on FacebookXLinkedIn, and Instagram.

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SOURCE Stratolaunch

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Shaped by Weather: University of Oklahoma Research Fuels Uncrewed Aerial System Development, Innovation

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NORMAN, Okla., May 5, 2025 /PRNewswire/ — On the day of the 2023 Rolling Fork tornado, researchers with the Cooperative Institute for Severe and High Impact Weather (CIWRO) and NOAA’s National Severe Storms Laboratory, headquartered on the University of Oklahoma campus, piloted a small network of drones through increasingly hostile conditions. The nimble airborne devices collected data about the changing atmosphere and demonstrated that such a tool could be used to improve the prediction of violent tornadoes. These drones are part of a lineage of uncrewed aerial systems (UAS) developed at CIWRO that are changing the face of weather observations.

Tony Segales, Ph.D., has led the system’s development since he began his doctoral work at OU in the fall 2017. The CopterSonde-3D, the culmination of his dissertation, is a patented design for a weather-sensing UAS that is now exclusively licensed with InterMet, the world’s leading supplier of atmospheric sensors. The patent, awarded last year, is specifically for the front scoop design of the CopterSonde-3D, a weather sensor package equipped with temperature and humidity sensors arranged in a strategic way to avoid data contamination by sources of heat around the drone.

“We designed the CopterSonde to essentially be a weathervane: It points into the wind. That’s the baseline feature from which all the other onboard weather-targeted features were designed,” said Segales.

As the drone points into the wind, air flows through the intake and across the sensors. It’s a tricky configuration to target the right performance window, and even trickier to continue building upon.

“Initially, we had an airframe design that was more symmetrical and easier to balance, but now we are betting on a more intricate drone design,” said Segales. “When you change something, it changes the balance in flight characteristics. Overall, we are achieving a drone design shaped by weather and tailored to atmospheric studies.”

Next-Generation Technology

Segales and his graduate students manage the CopterSonde’s engineering, and Segales is the only UAS research engineer on the team.

The CopterSonde is one example of the research-to-industry pipeline created at the intersection of academia and government research at the cooperative institute. Segales’s designs are immediately put to work in the field, where meteorologists like Tyler Bell, Ph.D., a co-inventor on the patent, test new designs while also collecting weather data for their own meteorological research.

During the design process, the CopterSonde-3D underwent over 1,700 flights in various environments, such as extreme storm conditions in the southeastern United States, high altitudes in Colorado and the salty air of coastal Houston, Texas. Those flights, conducted by CIWRO’s researchers and OU students, gave the meteorologists data to study the lower atmosphere and Segales the feedback from meteorologists he needed to return to his lab and redesign components of the UAS.

The CopterSonde-3D is a next-generation observational platform. The team hopes it can supplement existing measurements of the atmosphere and fill gaps that have been known for over a decade.

“Typically, we get weather balloon launches by the National Weather Service twice a day,” said Bell. “But the rate at which the lowest part of the atmosphere changes is much higher than those twice-a-day launches, and we don’t get much information in between. That lowest one or two miles of the atmosphere is where we live, and it’s the part that influences a lot of high-impact weather.”

The primary purpose of the CopterSondes is to fill existing time and geographical data gaps, but it also opens the door to significant research questions previously unexplored. Because UAS pilots can position the drone exactly where they want data from the lower atmosphere, the drones can venture into scenarios otherwise dangerous or impossible for humans to approach such as wildfires and severe storms.

Bell says the future development of the program will enable CopterSondes to fly autonomously and be placed at Mesonet stations across the country, creating a 3D Mesonet system.

“The UAS would work in combination with other sensors. A forecaster could select an area where they wanted more observations, and the drones would collect that data the forecaster needs in the moment,” said Bell. He believes the CIWRO team will have a prototype developed for testing within a few years.

Game-Changing Collaborations

In collaboration with NSSL, the team is currently working to design a drone that can operate in the type of extreme environments forecasters might want to sample.

“On the engineering side of things, this represents a big challenge. The drone would have to max out during every flight, which puts more stress on the electronics,” said Segales. “We want to measure the limits of the performance of these drones on extreme events to see how much we can really push the systems for sustained amounts of time.”

These collaborations between engineers and meteorologists, cooperative institute researchers and government scientists, create an environment where a product like the CopterSonde can blossom from an idea into a device that can provide life-saving benefits for the American public.

“There is this great feedback loop that we have here, where we can do this research from the ground up, from basic design to the actual application of science and innovation,” said Bell.

An example comes from what Bell calls one of the more impactful datasets they’ve captured: a central Oklahoma winter weather precipitation event in 2019. The CopterSonde-3D showed that the precipitation was changing by the minute, alternating among sleet, ice, rain, and freezing rain.

“That’s an example of how we can improve forecasts using this data, because in those conditions half a degree matters, and the Copter can get that half a degree really, really well,” said Bell.

In the future, Segales envisions a fleet of CopterSondes, each specifically designed for specific extreme events – drones built to handle icing on blades, and others made to soar through high winds and examine hurricanes from within. For now, there’s a patent pending for another member of the CopterSonde family, and the potential for next-generation weather and safety through these important academic and federal partnerships.

About the University of Oklahoma 
Founded in 1890, the University of Oklahoma is a public research university located in Norman, Oklahoma. As the state’s flagship university, OU serves the educational, cultural, economic and health care needs of the state, region and nation. For more information about the university, visit www.ou.edu.

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SOURCE University of Oklahoma

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