Here are 1-3 brief analogies for CAE:

• CAE is like the Boeing or Airbus of flight simulators and pilot training, equipping global airlines and defense forces with advanced training infrastructure.
• CAE is like the Peloton for pilots, soldiers, and surgeons, providing both the high-tech simulation equipment and comprehensive training programs for critical professions.

• Flight Simulation Training Devices: Equipment designed for realistic flight, cabin, maintenance, and ground personnel training across various aviation sectors.
• Civil Aviation Training Solutions: Comprehensive training programs for flight, cabin, maintenance, and ground personnel, including ab initio pilot training and crew sourcing services.
• Crew Management and Optimization Software: Digitally-enabled solutions for managing crew, training operations, and optimizing performance in civil aviation.
• Defence and Security Training and Mission Support: Solutions provided to defense forces for multi-domain operations and to government organizations for public safety.
• Healthcare Simulation and Training Solutions: Integrated education and training, including surgical and imaging simulations, patient simulators, curriculum, and center management platforms for healthcare professionals.
• EVTOL Pilot Training Programs: Development and deployment of specialized pilot training programs for electric vertical takeoff and landing operations.

• Commercial airlines
• Business aircraft operators
• Helicopter operators
• Aircraft manufacturers
• Defense forces and government organizations responsible for public safety
• Healthcare education and service providers (e.g., hospitals, universities, medical schools)

Matthew Bromberg President and Chief Executive Officer

Matthew Bromberg was appointed President and Chief Executive Officer of CAE Inc., effective August 13, 2025. He joined CAE on June 16, 2025, as incoming president and CEO. Bromberg is recognized as a leader with extensive experience in both the aerospace and defense sectors, including large-scale international operations. He is responsible for leading the company's strategic growth and ongoing evolution.

Ryan McLeod Chief Financial Officer

Ryan McLeod serves as the Chief Financial Officer for CAE Inc. In this capacity, he is responsible for leading CAE's global finance organization and plays a crucial role in driving the company's strategic growth and operational excellence.

Pascal Grenier President, Defense & Security

Pascal Grenier was appointed President, Defense & Security, on March 9, 2026. He oversees CAE's global defense portfolio and provides strategic oversight for the U.S. Defense & Security segment, aiming to enhance alignment and cohesion across CAE's global defense operations. Grenier has more than 25 years of experience at CAE, having built and led critical global operational functions such as Engineering, Manufacturing, Sourcing/Procurement, Quality Assurance, Innovation, IT, and Digital Solutions. Before this role, he was President, Flightscape, and previously served as Senior Vice President, Global Operations, Technologies & Innovation.

Juan Araujo Senior Vice President, Operations

Juan Araujo holds the position of Senior Vice President, Operations, at CAE Inc. He joined the company in January 2026, bringing over 25 years of international aerospace and industrial experience. Araujo has a proven track record of driving operational excellence across complex global businesses and is tasked with integrating various functional areas into a cohesive, end-to-end products team.

Alexandre Prevost President, Civil Aviation

Alexandre Prevost is the President of Civil Aviation for CAE Inc., a position he was appointed to in November 2025. A 17-year veteran of the company, Prevost most recently served as the Division President, Business Aviation Training. His background also includes leading Commercial Aviation Training for Asia Pacific, demonstrating a strong operational expertise.

1. Operational Challenges and Profitability Issues from Fixed-Price Defense Contracts: CAE has faced significant financial headwinds, including substantial goodwill impairments and unfavorable contract adjustments, due to legacy fixed-price contracts within its Defence and Security segment. These contracts, often signed before the COVID-19 pandemic, did not account for subsequent cost escalations from inflation, supply chain disruptions, and labor issues, leading to reduced profit margins and operational execution risks. The company has undertaken measures to re-baseline this business segment.
2. Softening Demand and Simulator Utilization Rates in the Civil Aviation Segment: While the Civil Aviation Training Solutions segment is CAE's largest, it has recently experienced softness in demand for pilot training and lower-than-targeted utilization rates for its full-flight simulators (FFS), such as a 71% utilization rate falling short of an estimated 75.6%. A sustained downturn in air travel, airline profitability, or pilot training demand could directly impact this significant revenue stream.
3. High Debt Levels and Exposure to Interest Rate Volatility: CAE carries a notable debt load, with a net debt-to-adjusted EBITDA ratio of 2.77x in fiscal year 2025, and aims to reduce it to 2.5x. High-interest rate environments make the deleveraging process more costly and can impact the company's financial flexibility and bottom line.

• Growth in Civil Aviation Training Solutions: CAE is positioned for continued revenue growth in its Civil Aviation segment, supported by a long-term positive market outlook for civil aviation, projected to grow by 4-5%. The company has a record adjusted backlog of $6.1 billion in this segment, and strategic expansions, such as the increased stake in SIMCOM Aviation Training, are expected to further boost recurring revenue streams.
• Strong Performance and New Contract Wins in Defense and Security: The Defense and Security segment is a significant driver of future revenue, demonstrating strong year-over-year growth. Management anticipates more than 20% growth in adjusted segment operating income for fiscal 2026, with a long-term target of 10-11% margins. A robust book-to-sales ratio of 1.99x for FY2025 indicates substantial new business bookings, and the retirement of legacy fixed-price contracts is expected to enhance profitability and allow for a focus on higher-margin opportunities.
• Expansion into Emerging Aviation Technologies (eVTOL): CAE is actively pursuing growth in new and emerging aviation markets through strategic partnerships. Its collaboration with Volocopter GmbH to develop pilot training programs for electric vertical takeoff and landing (eVTOL) operations positions the company to capture revenue from this innovative and evolving sector.
• Leveraging a Substantial and Recurring Backlog: The company benefits from a considerable adjusted backlog, which stood at $11.7 billion as of Q3 FY2024 and C$19.19 billion more recently. With approximately 60% of its annual revenue derived from recurring training services, this extensive backlog provides strong revenue visibility and a stable foundation for consistent future growth as existing contracts are fulfilled and new ones are secured.