Investor Presentaiton
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MARKET FOR SECURITIES
The Variable Voting Shares and the Voting Shares are traded on the TSX under the trading symbols
"AC.A" and "AC.B", respectively. The following table sets forth the price range and trading volume of the Variable
Voting Shares and the Voting Shares as reported by the TSX for the months of November to, and including,
December 2006:
Variable Voting Shares(¹)
2006
High
November ..... $21.00
December......
$18.15
Low
$15.65
$16.25
Average
Daily
Trading
Volume
Voting Shares (1)
Average
2,324,670
306,018
Total
Monthly
Volume
23,246,703
5,814,336
High
Low
Daily
Trading
Volume
Total Monthly
Volume
$21.00
$15.63
634,778
6,347,776
$18.09
$16.20
138,366
2,628,962
(1)
The Variable Voting Shares and the Voting Shares began trading on the TSX on November 24, 2006.
TRANSFER AGENT AND REGISTRAR
The transfer agent and registrar for the Variable Voting Shares and the Voting Shares of Air Canada is CIBC
Mellon Trust Company at its principal offices in Montreal, Toronto, Vancouver, Calgary and Halifax.
DIVIDEND RECORD
The Corporation has not declared or paid dividends on its Voting Shares and Variable Voting Shares for the year
ended December 31, 2006.
Air Canada's current policy is to reinvest future earnings in order to finance the growth and development of its
business. As a result, Air Canada does not intend to pay dividends in the foreseeable future. Any future
determination to pay cash dividends is at the discretion of Air Canada's board of directors and will depend on Air
Canada's financial condition, results of operations, capital requirements and such other factors as Air Canada's board
of directors deems relevant.
DESCRIPTION OF CAPITAL STRUCTURE
The share capital of Air Canada is comprised of an unlimited number of Variable Voting Shares and Voting
Shares. The following summary describes the rights, privileges, restrictions and conditions that are attached to the
Variable Voting Shares and the Voting Shares. This summary does not purport to be complete and is subject to, and
is qualified in its entirety by, reference to the terms of Air Canada's articles of incorporation, as amended.
Variable Voting Shares
Voting
The holders of the Variable Voting Shares shall be entitled to receive notice of, and to attend and vote at, all
meetings of the shareholders of Air Canada, except where the holders of a specified class are entitled to vote
separately as a class as provided in the CBCA.
The Variable Voting Shares may only be held, beneficially owned or controlled, directly or indirectly, by
persons who are not Canadians, as such term is defined in the CTA ("Qualified Canadians") and are entitled to one
vote per Variable Voting Share unless (i) the number of Variable Voting Shares outstanding, as a percentage of the
total number of votes attaching to all issued and outstanding voting shares, exceeds 25% or (ii) the total number of
votes cast by or on behalf of holders of Variable Voting Shares at any meeting exceeds 25% of the total number of
votes that may be cast at such meeting. If either of the above noted thresholds would otherwise be surpassed at any
time, the vote attached to each Variable Voting Share will decrease proportionately such that (i) the Variable VotingView entire presentation