BBD.B: Highlights from the RBC Canadian Industrials Conference

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BBD.B: Highlights from the RBC Canadian Industrials Conference

EQUITY RESEARCH QUICK TAKE

RBC Dominion Securities Inc.

James McGarragle, CFA, CPA (Analyst)

Louis Derlis, CFA (Senior Associate)

May 19, 2026

Bombardier Inc.

Highlights from the RBC Canadian Industrials Conference

TSX: BBD.B | CAD 261.75 | Outperform | Price Target CAD 332.00

Sentiment: Neutral

This afternoon, Bart Demosky, EVP and CFO, presented.

Business Jet Demand

Demand trends remain robust. Management noted that conditions across the business aviation market are materially exceeding

original expectations, consistent with the record backlog we saw in Q1. The depth of buyer appetite is perhaps best illustrated by

the fact that used Bombardier jets under 10 years old are attracting over 50 offers within an hour of listing — a data point we view

as compelling evidence of the structural nature of this demand cycle rather than purely cyclical tailwinds. Flight hour utilization is

running approximately 6%–8% above prior-year levels, while used aircraft inventory has trended to all-time lows — dynamics that

continue to tighten pricing conditions across the platform. Against this backdrop, the company has entered what management

described as a capital deployment phase, reflecting high conviction in the forward demand outlook, and one we believe is well-

supported by the underlying market data.

Global 8000 & Product Portfolio

Solid product portfolio. The Global 8000 continues to anchor Bombardier’s positioning in the ultra-long-range segment, with a

robust backlog and meaningful pricing power relative to the 7500. Approximately 25%–30% of eligible Global 7500 customers

have expressed willingness to pursue a technical conversion to the 8000 — an uptake rate management characterized as strong,