WestJet completes previously announced equity offering

At closing today, an aggregate of 15,398,500 Common Voting Shares and Variable Voting Shares (collectively, the "Shares") were issued at a price of C$11.20 per Share for aggregate gross proceeds of approximately C$172 million. This includes 2,008,500 Shares issued pursuant to the exercise by the underwriters of the full amount of the over-allotment option.

The syndicate of underwriters was led by CIBC and included RBC Capital Markets, TD Securities Inc., National Bank Financial Inc., Raymond James Ltd., Scotia Capital Inc., UBS Securities Canada Inc. and HSBC Securities (Canada) Inc. WestJet intends to use the net proceeds of the offering to finance the Company's capital expenditures, including future aircraft financing activities and pre-delivery payments on new aircraft; for general working capital purposes, including aircraft maintenance, spare parts and support for new systems; and to maintain its capital position to enhance its flexibility for financing future growth activities.

The Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States of America (the "United States") or to or for the benefit of U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) except in transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.