Q2 2013 Financial Highlights

Q2 2013 HIGHLIGHTS

August 12, 2013

FORWARD-LOOKING STATEMENTS

3

Forward-looking statements are included in the following presentations. These forward-looking statements are identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, ”should” and similar terms and phrases, including references to assumptions. Such statements may involve but are not limited to comments with respect to strategies, expectations, objectives, goals, aspirations, intentions, planned operations or future actions.

Forward-looking statements, by their nature, are based on assumptions and are subject to important risks and uncertainties. Any forecasts, predictions or forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business and its corporate structure. Results indicated in forward-looking statements may differ materially from actual results for a number of reasons, including without limitation, dependency on top Accumulation Partners and clients, the effective implementation of Aeroplan Program enhancements and a new financial card partnership and associated cardholder migration, conflicts of interest, greater than expected redemptions for rewards, regulatory matters, retail market/economic conditions, industry competition, Air Canada liquidity issues, Air Canada or travel industry disruptions, airline industry changes and increased airline costs, supply and capacity costs, unfunded future redemption costs, failure to safeguard databases and consumer privacy, changes to coalition loyalty programs, seasonal nature of the business, other factors and prior performance, foreign operations, legal proceedings, reliance on key personnel, labour relations, pension liability, technological disruptions and inability to use third party software, failure to protect intellectual property rights, interest rate and currency fluctuations, leverage and restrictive covenants in current and future indebtedness, uncertainty of dividend payments, managing growth, credit ratings, as well as the other factors identified throughout this presentation and throughout our public disclosure record on file with the Canadian securities regulatory authorities.

Slides 20 and 21 of this presentation contain certain forward-looking statements with respect to certain financial metrics in 2014 and 2015, respectively. These

statements are not intended to constitute, nor should they be considered as, financial outlook or guidance within the meaning of applicable securities laws. These

statements exclude the effects of fluctuations in currency exchange rates and Aimia made a number of general economic and market assumptions in making these

statements, including assumptions regarding the performance of the economies in which the Corporation operates and market competition and tax laws applicable to

the Corporation’s operations. In addition, the Corporation has made a number of specific assumptions in making these statements, including (i) that any migration of

the Corporation’s current financial cardholders will be completed by the end of 2014 within a range that is consistent with past comparable situations in North

America, (ii) a level of growth for the Corporation’s financial card business that is consistent with the general Canadian premium credit card market, and (iii) growth in

the Corporation’s non-Aeroplan related business consistent with the Corporation’s three year plan. The Corporation cautions that the assumptions used to make

these statements with respect to 2014 and 2015, although reasonable at the time they were made, may prove to be incorrect or inaccurate. In addition, these

statements do not reflect the potential impact of any non-recurring or other special items or of any new material commercial agreements, dispositions, mergers,

acquisitions, other business combinations or transactions or the outcome of ongoing discussions between Aimia, TD and CIBC that may or may not result in an

agreement relating to the retention by CIBC of a portion of the portfolio and the acquisition by TD of the remainder, that may be announced or that may occur after

August 12, 2013. The financial impact of these transactions and non-recurring and other 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. Accordingly, our

actual results could differ materially from the statements made at Slides 20 and 21 of this presentation.

The forward-looking statements contained herein represent the expectations of Aimia Inc., as of August 12, 2013 and are subject to change. However, Aimia

disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as

required under applicable securities regulations.

For further information, please contact Investor Relations at 416 352 3728 or [email protected] .

mailto:[email protected]

RUPERT DUCHESNE GROUP CHIEF EXECUTIVE

Ground breaking transformation of the Aeroplan program, including:

• Introduction of Distinction

• New MarketFare rewards

• Cancellation of the 7 year redemption policy

• New financial credit card agreement with TD Bank Group

The conclusion of two long running proceedings

• Competition Tribunal in Canada

• UK Supreme Court decision with respect to VAT

Investments centred on our proprietary loyalty offering

• Additional investment in Cardlytics

• Acquisition of Smart Button

• Impending launch of the new Aimia Loyalty Platform

• Ongoing EIM Integration

A LOT HAS HAPPENED SINCE MAY

5

MAJOR ACCUMULATION PATHS TO DISTINCTION

FLIGHT-BASED ACCUMULATION

Altitude SuperElite 100K

Altitude Elite 35K, 50K and 75K

Altitude Prestige 25K

FINANCIAL CARD SPEND

Enhanced premium

Premium

Mid-market BOTH AMPLIFIED

BY SPEND WITH

COALITION

PARTNERS

diamond Earn 100,000 eligible miles or

more in one year and reach

our top level, dDiamond

black Earn between 50,000 and

99,999 eligible miles and you’ll

achieve dBlack

silver When you earn between

25,000 and 49,999 eligible

miles in one year, you’ll qualify

for the first level of Distinction,

dSilver

6

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

Based on combined average card spend and coalition activity, and average Toronto-Vancouver fare Market fare product

Fixed grid product

Notes: 1. Card spend assumed to be the same for all card products, not disclosed due to confidentiality. 2. Additional spend bonuses estimated for competitive cards (e.g., gas, grocery, drug,

travel spend). 3. Months required to reach reward exclude impact of welcome bonuses. 4. Fare Source: Average fare observed for Toronto – Vancouver ClassicPlus rewards in 2012,

confidential. 5. 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).

TD First Class Visa Infinite

Aeroplan MarketFare

Scotiagold Passport Visa

RBC Visa Infinite Avion

CIBC Aventura World Elite

MasterCard World Elite

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

7

DISTINCTION LAUNCH: JULY 2013

8

Ground breaking transformation of the Aeroplan program, including:

• Introduction of Distinction

• New MarketFare rewards

• Cancellation of the 7 year redemption policy

• New financial credit card agreement with TD Bank Group

The conclusion of two long running proceedings

• Competition Tribunal in Canada

• UK Supreme Court decision with respect to VAT

Investments centred on our proprietary loyalty offering

• Additional investment in Cardlytics

• Acquisition of Smart Button

• Impending launch of the new Aimia Loyalty Platform

• Ongoing EIM Integration

A LOT HAS HAPPENED SINCE MAY

9

DAVID ADAMS EXECUTIVE VICE-PRESIDENT AND CFO

Q2 2013 CONSOLIDATED FINANCIAL HIGHLIGHTS

11

(1) Discrepancies in variances may arise due to rounding. Year over year change has been calculated excluding the VAT and Breakage adjustments recorded in the three months ended June 30, 2013.

(2) Reported results excluding the impact of VAT and Breakage adjustments recorded in the three months ended June 30, 2013.

(3) Gross Billings and Adjusted EBITDA for the three months ended June 30, 2012 includes $5.5 million of compensation received from Air Canada in relation to transfer of the assets and obligations on

pension benefits accrued by contact centre employees prior to 2009, who were transferred to Aeroplan in 2009.

(4) Before depreciation and amortization.

(5) Includes amortization of Accumulation Partners’ contracts, customer relationships and technology.

(6) Constant Currency excludes the translation effect of foreign operations on the consolidated results. For more information on Constant Currency, please refer to Aimia’s August 12, 2013 earnings

press release.

** information not meaningful

($ millions)

Exluding

Noted Items(2)

2013

Breakage

Adjustment

VAT

Impact

Reported

2013

Reported

2012

Year

Over Year

Constant

Currency (6)

Gross Billings (3) 570.5 - - 570.5 554.3 2.9% 3.1%

Gross Billings from sale of Loyalty Units 414.2 - - 414.2 414.0 0.0% 0.4%

Total Revenue 540.3 (663.6) - (123.3) 504.2 7.1% 7.2%

Cost of rewards and direct costs 305.4 - (74.9) 230.5 279.9 9.1% 9.2%

Gross margin (4) 234.9 (663.6) 74.9 (353.8) 224.3 4.7% 4.8%

Gross margin (%) 43.5% ** ** ** 44.5% (1.0 pp) (1.0 pp)

Depreciation and amortization(5) 30.6 - - 30.6 29.4 4.2% 4.2%

Operating expenses 149.4 - 48.8 198.2 140.9 6.0% 5.9%

Operating income (loss) 54.8 (663.6) 26.1 (582.7) 54.0 1.5% 2.1%

Net financial income (costs) (11.0) - 17.3 6.3 (9.0) ** **

Share of net earnings (loss) of equity accounted investments (1.9) - - (1.9) 1.6 ** **

Net earnings (loss) 25.2 (483.8) 43.4 (415.2) 35.0 ** **

Adjusted EBITDA (3) 100.2 (24.8) 26.6 102.0 102.1 (1.9%) (1.4%)

Adjusted EBITDA margin excluding distributions

(as a % of Gross Billings) 16.4% ** ** 16.7% 18.4% (2.0 pp) (2.0 pp)

% Change (1)Three Months Ended

June 30,

Q2 2013 GROSS BILLINGS GROWTH ($ MILLIONS)

12

$18.9

US&APAC

$3.7

EMEA

($7.2)

Canada

Consolidated: +2.9% growth; +3.1% in c.c.(3)

US&APAC: +27.5% in c.c.(3) . EMEA: +3.4% in c.c.(3) . Canada: -2.2%(1)

(1) Canada region variance includes $5.5 million in the three month period ended June 30, 2012 of compensation received from Air Canada in relation to

transfer of the assets and obligations on pension benefits accrued by contact centre employees prior to 2009, who were transferred to Aeroplan in 2009.

(2) Variance related to intercompany eliminations of $0.8 million has been excluded from the bridge.

(3) Constant Currency excludes the translation effect of foreign operations on the consolidated results. For more information on Constant Currency, please

refer to Aimia’s August 12, 2013 earnings press release.

(2)

(1)

Q2 2013 AEBITDA GROWTH ($ MILLIONS)

13

(1) Canada region variance includes $5.5 million in the three month period ended June 30, 2012 of compensation received from Air Canada in relation

to transfer of the assets and obligations on pension benefits accrued by contact centre employees prior to 2009, who were transferred to Aeroplan

in 2009.

2012 Reported 2013 Reported

$102.1 $102.0

$26.6

VAT

$3.9

EMEA

($5.7)

US&APAC

($3.8)

Canada

($24.8)

Breakage

($3.2)

Corporate

costs

$6.9

PLM

(1)

YTD 2013 FINANCIAL HIGHLIGHTS – US & APAC

14

(1) Discrepancies in variances may arise due to rounding.


(3) Constant Currency excludes the translation effect of foreign operations on the consolidated results. For more information on

Constant Currency, please refer to Aimia’s August 12, 2013 earnings press release.


Gross Billings growth

reflects the impact of

EIM, slightly offset by

Qantas impact in the

first quarter; ongoing

investments included

in Adjusted EBITDA

($ millions)

Reported

2013

Reported

2012

Year Over

Year

Constant

Currency (3)

Gross Billings 165.1 146.6 12.6% 12.0%

Total revenue 168.5 147.7 14.1% 13.5%

Gross margin (2)76.0 69.5 9.4% 8.5%

Gross margin (%) 45.1% 47.1% (2.0 pp) (2.1 pp)

Operating income (loss) (11.9) (1.8) ** **

Adjusted EBITDA (9.9) 1.4 ** **

Adjusted EBITDA margin

(as a % of Gross Billings) (6.0%) 0.9% ** **

Six Months Ended

June 30, % Change (1)

YTD 2013 FINANCIAL HIGHLIGHTS - EMEA

15

(1) Discrepancies in variances may arise due to rounding. Year over year change has been calculated excluding the VAT impact, recorded in

six months ended June 30, 2013


(3) Constant Currency excludes the translation effect of foreign operations on the consolidated results. For more information on Constant

Currency, please refer to Aimia’s August 12, 2013 earnings press release.


More moderate Q2

EMEA growth with

I2C impact and

cycling contract

terms effective from

Q2 2012

Underlying

Adjusted EBITDA

+$20 million driven

by higher volumes

and Q1

promotional

funding

($ millions)

Exluding

VAT

2013

VAT

Adjustment

Reported

2013

Reported

2012

Year

Over Year

Constant

Currency (3)

Gross Billings 335.0 - 335.0 301.5 11.1% 11.9%

Gross Billings from

the sale of Loyalty Units300.5 - 300.5 261.1 15.1% 15.8%

Total revenue 281.2 - 281.2 242.8 15.8% 16.3%

Gross margin (2) 92.7 72.8 165.5 71.6 29.5% 29.9%

Gross margin (%) 33.0% ** 58.9% 29.5% 3.5 pp 3.4 pp

Operating income (loss) 11.3 24.0 35.3 (8.3) ** **

Adjusted EBITDA 36.2 24.0 60.3 15.8 129.4% 130.6%


(as a % of Gross Billings)10.8% ** 18.0% 5.2% ** **

Six Months Ended


YTD 2013 FINANCIAL HIGHLIGHTS - CANADA

16

**information not meaningful

(1) Discrepancies in variances may arise due to rounding. Year over year change has been calculated excluding the Breakage adjustment, recorded in six

months ended June 30, 2013.

(2) Gross Billings and Adjusted EBITDA for the six months ended June 30, 2012 includes $5.5 million of compensation received from Air Canada in relation to



.

Gross Billings down

2.1% with continued Air

Canada grid change

impact; uncertainty

around financial cards

leading to lower

accumulation

Underlying margin

down slightly to 30.2%

as a result of

redemption mix and

lower margin

proprietary loyalty

volumes; breakage

impact takes it to

26.3%

($ millions)

Excluding

Breakage Adj.

2013

Breakage

Adjustment

Reported

2013

Reported

2012

Year Over

Year

Gross Billings (2)

Aeroplan 551.2 - 551.2 568.7 (3.1%)

Proprietary Loyalty 121.8 - 121.8 114.7 6.2%

Intercompany eliminations (41.0) - (41.0) (38.1) na

631.9 - 631.9 645.2 (2.1%)

Total revenue

Aeroplan 619.9 (663.6) (43.6) 606.4 2.2%



700.5 (663.6) 36.9 683.8 2.4%

Gross margin (3)

Gross margin (%) 46.4% ** ** 48.4% (2.0 pp)

Aeroplan 285.6 (663.6) (378.0) 284.8 0.3%

Proprietary Loyalty 39.9 - 39.9 46.7 (14.7%)


324.7 (663.6) (338.9) 330.7 (1.8%)

Operating income (loss)

Aeroplan 165.9 (663.6) (497.6) 164.1 1.1%


169.2 (663.6) (494.4) 170.0 (0.5%)

Adjusted EBITDA (2)


(as a % of Gross Billings)30.2% ** 26.3% 31.6% (1.4 pp)

Aeroplan 181.0 (24.8) 156.2 192.2 (5.8%)


191.0 (24.8) 166.2 203.8 (6.3%)

% Change (1)Six Months Ended

June 30,

FREE CASH FLOW

17

Free Cash Flow (1) ($ millions)

(1) Free Cash Flow before common and preferred dividends paid.

(2) Calculated as: (Free Cash Flow before common and preferred dividends paid, less preferred dividends paid)/ weighted average common shares outstanding.

Free Cash Flow/ Common Share (2)

Free Cash Flow Dividends

$16.6

$4.8

$33.3

$60.4

$92.5

$79.1

Free Cash Flow Dividends

$56.6$51.8

$43.8

$81.5$74.2

$88.7

$0.30

$0.50

$0.43

YTD 2011 YTD 2012 YTD 2013

$0.44 $0.41

$0.50

Q2 2011 Q2 2012 Q2 2013

YTD 2011 YTD 2012 YTD 2013 Q2 2011 Q2 2012 Q2 2013

2013 OUTLOOK*

18

Key Financial Metric 2012 Actual Original Guidance (as provided

on February 27, 2013) Revised 2013 Target Range

Consolidated Outlook

Gross Billings $2,243.0 million Growth of between 3% and 5% No change

Adjusted EBITDA $402.6 million To approximate $425 million To approximate $375 million

This update reflects:

A $50 million reduction which reflects the full year impact of the lower

Breakage rate outlined on June 27, 2013

A $25 million reduction related to: timing of new business rollout in

the US & APAC business, lower Canadian Gross Billings and

marketing costs now expected to be advanced into second half of

2013 to promote the introduction of the Distinction program.

Offset by:

A benefit of approximately $25 million from the outcome of the VAT

ruling in the UK.

Free Cash Flow before dividends

paid $299.5 million Between $255 and $275 million No change

Capital Expenditures $58 million To approximate $70 million No change

Income Taxes Canadian income

tax rate of 26.2%

Current income tax rate is

anticipated to approximate 27% in

Canada. The Corporation expects

no significant cash income taxes

will be incurred in the rest of its

foreign operations.

While Aimia’s 2013 tax rate is expected to approximate 27% in Canada,

Aimia does not expect to be required to pay any further cash tax installments

in 2013 as a result of the realization of tax losses from the Breakage

adjustment of $664 million. The Corporation expects no significant cash

income tax will be incurred in the rest of its foreign operations.

Business Segment Gross Billings Growth Outlook

Canada $1,292.6 million Growth of between 1% and 3% At the lower end of the range of between 1% and 3%

EMEA $639.9 million Growth of between 5% and 7% No change

US & APAC $315.2 million Above 5% No change

* Please refer to the August 12, 2013 Earnings Press Release for a description of the assumptions made and risks related to the 2013 forecasts.

As disclosed in the press release of August 12, 2013, updating on our financial card agreement, Aimia is currently in ongoing active discussions with TD and CIBC about a broad

framework that would see CIBC retain cards held by their existing banking customers. There can be no assurances that an agreement will be reached. Aimia does not expect a

significant change in outlook for 2013 as a result of a deal but will provide additional disclosure if an arrangement is reached which results in any changes to outlook.

2014 UPDATE *

19

FINANCIAL IMPLICATIONS RELATED TO PROGRAM

CHANGES

FINANCIAL IMPLICATIONS RELATED TO FINANCIAL

CARD FRAMEWORK

Approximately 6 percentage point reduction in Consolidated

Adjusted EBITDA margin expected for 2014 to reflect:

• Breakage rate adjustment

• Investment in value proposition

A more than 15% increase in selling price per mile under new

financial card framework

Elevated Redemption for flight rewards expected to drive free

cash flow reduction

$100 million upfront program contribution payable to Aimia

Expected cash tax benefit related to loss carryback

Marketing expense budgeted will be aimed at maximizing

transfer of existing financial credit card holders to TD, with

miles purchase commitment representing a value equivalent to

the Gross Margin which would have been generated on

approximately 65% of 2012 Gross Billings from CIBC in 2014

(and increasing to a value equivalent to over 90% in 2015 and

2016) protecting against downside transition risk

* Please refer to Forward-Looking Statements on slide 2 of this presentation for a view of the assumptions related to forward-looking

statements.

20 20

A STRONGER LONGER TERM INVESTMENT THESIS

* Please refer to Forward-Looking Statements on slide 2 of this presentation for a view of the assumptions related to forward-looking

statements.

The increased long term

sustainability of the program

aimed at driving

consolidated free cash flow

back to approximately $250

million by the end of 2015*

and supporting continued

dividends

New financial card

economics to help

fund increased member

engagement ; program

changes expected to

affect margin profile and

deliver longer term

growth

Premium Canadian

consumers are loyal to

Aeroplan. By enhancing

the value the program

delivers to members and

our largest partners -

including Air Canada, we

will extend our leadership

of the Canadian loyalty

industry

We will be targeting

Consolidated Gross

Billings in excess of $2.6

billion in 2015* with an

enhanced program

delivered in partnership with

a strong and committed

card issuer

ATTRACTIVE

BUSINESS

MODEL

FOCUSED

ON GROWTH

OPPORTUNITIES

SOLID

FINANCIAL

CHARACTERISTICS

STRONG

FREE CASH FLOW

GENERATION

THANK YOU

APPENDIX

YTD 2013 CONSOLIDATED FINANCIAL HIGHLIGHTS

23

(1) Discrepancies in variances may arise due to rounding. Year over year change has been calculated excluding the VAT and Breakage adjustments recorded in six months ended June 30, 2013

(2) Reported results excluding the impact of VAT and Breakage adjustments recorded in the six months ended June 30, 2013.

(3) Gross Billings and Adjusted EBITDA for the six months ended June 30, 2012 includes $5.5 million of compensation received from Air Canada in relation to transfer of the assets and obligations on

pension benefits.


(5) Includes amortization of Accumulation Partners’ contracts, customer relationships and technology.

(6) Constant Currency excludes the translation effect of foreign operations on the consolidated results. For more information on Constant Currency, please refer to Aimia’s August 12, 2013 earnings

press release.


($ millions)

Exluding

Noted Items(2)

2013

Breakage

Adjustment

VAT

Impact

Reported

2013

Reported

2012

Year

Over Year

Constant

Currency (6)

Gross Billings (3) 1,131.7 - - 1,131.7 1,090.9 3.7% 3.9%

Gross Billings from sale of Loyalty Units 827.6 - - 827.6 800.0 3.4% 3.7%

Total Revenue 1,149.8 (663.6) - 486.2 1,072.0 7.3% 7.3%

Cost of rewards and direct costs 656.7 - (72.8) 583.9 602.3 9.0% 9.2%

Gross margin (4) 493.0 (663.6) 72.8 (97.7) 469.7 5.0% 4.9%

Gross margin (%) 42.9% ** ** (20.1%) 43.8% (0.9 pp) (1.0 pp)

Depreciation and amortization(5) 61.2 - - 61.2 58.6 4.5% 4.5%

Operating expenses 302.7 - 48.8 351.5 281.8 7.4% 7.4%

Operating income (loss) 129.1 (663.6) 24.0 (510.5) 129.3 (0.2%) (0.3%)

Net financial income (costs) (17.6) - 16.2 (1.4) (18.4) ** **

Share of net earnings (loss) of equity accounted investments (3.6) - - (3.6) 2.7 ** **

Net earnings (loss) 74.1 (483.8) 40.2 (369.5) 79.7 ** **

Adjusted EBITDA (3) 184.8 (24.8) 24.0 184.0 190.3 (2.9%) (2.8%)

Adjusted EBITDA margin excluding distributions

(as a % of Gross Billings) 15.7% ** ** 15.7% 17.4% (1.7 pp) (1.7 pp)

Six Months Ended


BALANCE SHEET AT JUNE 30, 2013 IMPACT OF BREAKAGE AND VAT ADJUSTMENTS

24

($ millions)

Excluding

Noted Items

2013

Breakage

Adjustment

VAT

Impact

Reported

2013

ASSETS

Accounts receivable 390.2 - (67.7) 322.5

Income taxes receivable - 111.5 - 111.5

Total Assets 5,238.8 111.5 (67.7) 5,282.6

LIABILITIES & EQUITY

Accounts payable and accrued liabilities 336.6 - 50.5 387.1

Income taxes payable 23.9 (23.9) - -

Provisions 161.7 - (161.7) -

Deferred revenue 2,236.1 663.6 - 2,899.7

Deferred income taxes 213.2 (44.4) - 168.8

Total Liabilities 3,890.1 595.3 (111.2) 4,374.2

Total Equity 1,348.7 (483.8) 43.5 908.4

Note: The difference between the net earnings impact of the VAT adjustment and net equity adjustment is related to foreign currency translation rates applied to the adjustments in the

income statement and balance sheet.

A BALANCE SHEET TO SUPPORT TRANSITION

AVAILABLE CASH

$ millions

June 30,

2013

Cash and cash equivalents 499.4

Restricted cash 30.6

Short-term investments 23.1

Long-term investments in bonds 311.9

Cash and Investments 865.0

Aeroplan reserves (300.0)

Other loyalty programs reserves (148.8)

Restricted cash ( 30.6)

Available cash 385.6

DEBT

$ millions

Annual

Interest

Rate

Maturing

June 30,

2013

Revolving Facility(1) Apr. 23, 2016 -

Senior Secured Notes 2 7.9% Sept. 2, 2014 150.0

Senior Secured Notes 3 6.95% Jan. 26, 2017 200.0

Senior Secured Notes 4 5.6% May 17, 2019 250.0

Senior Secured Notes 5 4.35% Jan. 22, 2018 200.0

Long Term Debt 800.0

(1) As of June 30, 2013, Aimia held a $300 million revolving credit facility which comes to term on April 23, 2016. Interest rates on this facility are tied

to the Corporation’s credit ratings and range between Canadian prime rate plus 0.20% to 1.50% and Bankers’ Acceptance and LIBOR rates plus

1.20% to 2.50%. As of June 30, 2013, Aimia had issued irrevocable letters of credit in the aggregate amount of $20 million. This amount reduces the

available credit under the revolving facility. 25

YTD 2013 GROSS BILLINGS GROWTH ($ MILLIONS)

26

(1) Canada region variance includes $5.5 million in the six month period ended June 30, 2012 of compensation received from Air Canada in relation to


(2) Variance related to intercompany eliminations of $2.0 million has been excluded from the bridge.

(3) Constant Currency excludes the translation effect of foreign operations on the consolidated results. For more information on Constant Currency, please

refer to Aimia’s August 12, 2013 earnings press release.


$1,090.9

•

$1,131.7

US&APAC

$18.5

$33.6

EMEA

($13.3)

Canada

(2)

Consolidated: +3.7% growth; +3.9% in c.c.(3)

EMEA: +11.9% in c.c.(3) . US&APAC: +12.0% in c.c.(3) . Canada: -2.1%(1)

(1)

YTD 2013 AEBITDA GROWTH ($ MILLIONS)

27

(1) Canada region variance includes $5.5 million in the six month period ended June 30, 2012 of compensation received from Air Canada in relation to

transfer of the assets and obligations on pension benefits.


$190.3 $184.0

$24.0

VAT

Breakage

($24.8)

$20.4

EMEA

($11.2)

US&APAC

($12.8)

(1)

Canada

($8.8)

Corporate

$6.9

PLM

BRIDGING AEBITDA TO FREE CASH FLOW ($ MILLIONS)

28

Q2 2012: $102.1 $3.8 $31.3 -- -- ($26.4) ($6.2) ($19.1) ($11.3) $74.2

Q2 2013

$102.0

$88.7

AdjustedEBITDA

Stock BasedCompensation

Change in FRCex Items

Breakage VAT WorkingCapital and

Other

Net CashInterest

Cash Taxes CapitalExpenditures

Free CashFlow ex

Dividends

($11.3)$3.8

($26.6)

$22.4

($1.5) ($7.7)

($17.2)

$24.8

Q2 2013 FINANCIAL HIGHLIGHTS – US & APAC

29

(1) Discrepancies in variances may arise due to rounding.





($ millions)

Reported

2013

Reported

2012

Year Over

Year

Constant

Currency (3)

Gross Billings 84.5 65.6 28.7% 27.5%

Total revenue 87.7 68.4 28.3% 27.1%

Gross margin (2)39.5 34.2 15.6% 14.3%

Gross margin (%) 45.0% 49.9% (4.9 pp) (5.0 pp)

Operating income (loss) (5.7) 0.1 ** **

Adjusted EBITDA (6.2) (0.5) ** **


(as a % of Gross Billings) (7.3%) (0.7%) (6.6 pp) (6.7 pp)

Three Months Ended


Q2 2013 Gross

Billings growth

reflects impact of

EIM acquisition as

well as some growth

across the rest of the

business.

Adjusted EBITDA

impacted by EIM

integration and

further investment

in the business

Q2 2013 FINANCIAL HIGHLIGHTS - EMEA

30

(1) Discrepancies in variances may arise due to rounding. Year over year change has been calculated excluding the VAT

impact, recorded in three months ended June 30, 2013





Gross Billings

growth during

the quarter

driven by Nectar

UK and Air Miles

Middle East

Adjusted EBITDA

+$3.9 million

excluding the VAT

impact, driven by

improved operating

leverage and

redemption mix

($ millions)

Exluding

VAT

2013

VAT

Adjustment

Reported

2013

Reported

2012

Year

Over Year

Constant

Currency (3)

Gross Billings 161.3 - 161.3 157.6 2.3% 3.4%

Gross Billings from

the sale of Loyalty Units143.7 - 143.7 136.8 5.1% 6.0%

Total revenue 123.8 - 123.8 125.8 (1.6%) (0.7%)

Gross margin (2) 39.6 74.9 114.5 38.6 2.6% 4.1%

Gross margin (%) 32.0% ** 92.5% 30.7% 1.3 pp 1.5 pp

Operating income (loss) 1.5 26.1 27.6 (1.8) ** **

Adjusted EBITDA 16.1 26.6 42.7 12.3 31.3% 35.1%


(as a % of Gross Billings)10.0% ** 26.5% 7.8% 2.2 pp 2.4 pp

Three Months Ended


Q2 2013 FINANCIAL HIGHLIGHTS - CANADA

31

Growth in Gross

Billings from the

Proprietary Loyalty

business were

offset by softness

in Aeroplan

business

Solid margins

despite

lower

Gross Billings

(1) Discrepancies in variances may arise due to rounding. Year over year change has been calculated excluding the Breakage adjustment, recorded in the

three months ended June 30, 2013

(2) Gross Billings and Adjusted EBITDA for the three months ended June 30, 2012 includes $5.5 million of compensation received from Air Canada in relation

to transfer of the assets and obligations on pension benefits.


.


($ millions)

Excluding

Breakage Adj.

2013

Breakage

Adjustment

Reported

2013

Reported

2012

Year Over

Year

Gross Billings (2)

Aeroplan 282.5 - 282.5 295.0 (4.2%)



324.8 - 324.8 332.0 (2.2%)

Total revenue

Aeroplan 287.1 (663.6) (376.5) 274.0 4.8%



328.8 (663.6) (334.8) 311.0 5.7%

Gross margin (3)

Gross margin (%) 47.4% ** ** 49.0% (1.6 pp)

Aeroplan 136.9 (663.6) (526.6) 130.4 5.0%



155.8 (663.6) (507.8) 152.4 2.3%

Operating income (loss)

Aeroplan 76.8 (663.6) (586.8) 70.4 9.0%


78.5 (663.6) (585.1) 72.0 9.0%

Adjusted EBITDA (2)


(as a % of Gross Billings)31.6%

**24.0% 32.1% (0.5 pp)

Aeroplan 97.0 (24.8) 72.3 101.7 (4.6%)


102.7 (24.8) 77.9 106.5 (3.5%)

% Change (1)Three Months Ended

June 30,

AEROPLAN REVENUE BREAKDOWN

32

Three Months Ended June 30,

(in $ millions) 2013 2012 Change % Change

Miles revenue 225.9 215.0 10.9 5.1 %

Breakage revenue (614.4) 46.7 (661.1) *****

Other 12.0 12.3 (0.3) (2.4%)

Total Revenue (376.5) 274.0 650.5 *****


AEROPLAN KEY METRICS

33

Average Selling Price & Cost (cents / mile)

Aeroplan Miles Issued & Redeemed (billions)

17.5

22.7

18.3

21.7

Aeroplan Miles Redeemed Aeroplan Miles Issued

Q2 2012 Q2 2013

1.22

0.82

1.24

0.82

Average Selling Price Average Cost/ Aeroplan MileRedeemed

Q2 2012 Q2 2013

GROSS BILLINGS FROM SALE OF LOYALTY UNITS BY MAJOR PARTNER

34

Q2 2013 Gross Billings from sale of Loyalty Units

Q2 2012 Gross Billings from sale of Loyalty Units

$414.2M $414.0M

Partner A Partner B Partner C Air Canada Other

33.7%

17.2%10.2%

14.1%

24.8% 22.8%

34.4%

16.9%10.7%

15.2%

FOREIGN EXCHANGE RATES

35

Period Rates Q2 2013 Q2 2012 Change % Change

Period end rate £ to $ 1.5992 1.6002 (0.0010) (0.1%)

Average quarter £ to $ 1.5710 1.5983 (0.0273) (1.7%)

Average YTD £ to $ 1.5679 1.5858 (0.0179) (1.1%)

Period end rate AED to $ 0.2862 0.2789 0.0073 2.6%

Average quarter AED to $ 0.2785 0.2749 0.0036 1.3%

Average YTD AED to $ 0.2764 0.2738 0.0026 0.9%

Period end rate USD to $ 1.0515 1.0248 0.0267 2.6%

Average quarter USD to $ 1.0231 1.0098 0.0133 1.3%

Average YTD USD to $ 1.0155 1.0059 0.0096 1.0%

Period end rate € to $ 1.3677 1.2889 0.0788 6.1%

Average quarter € to $ 1.3357 1.2969 0.0388 3.0%

Average YTD € to $ 1.3332 1.3049 0.0283 2.2%

Economy & Finance

Q2 2013 Financial Highlights