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NAV CANADA issues General Obligation Notes

(Ottawa, March 29, 2018) - NAV CANADA (the Company) announced today that it has completed an issue of $275 million 30-year General Obligation Notes (the Notes). The Notes bear interest at the rate of 3.293 per cent per annum.

The proceeds of the Notes will be used to repay a portion of the Company's $350 million Series MTN 2013-1 General Obligation Notes which mature on April 19, 2018. The remainder of the 2013-1 maturity will be repaid with available cash and by drawing on its syndicated credit facility, if necessary.

NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.

The Company is internationally recognized for its safety record, and technology innovation. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide.

NAV CANADA is a partner of Aireon LLC, an international joint venture deploying a space based Automatic Dependent Surveillance-Broadcast (ADS-B) system that will expand air traffic surveillance to all regions of the globe.

For further information, please contact:
Michelle Bishop
Director, Government and Public Affairs
(613) 563-7520

Ron Singer
National Manager, Media Relations
(613) 563-7303

Media Information Line: 1-888-562-8226

This news release does not constitute an offer to sell the Notes in the United States. The Notes have not been and will not be registered under U.S. securities laws and may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from such registration.