AIR CANADA PIONAIRS BY-LAWS – RECORD OF AMENDMENTS

Article 2, Article 3, par 2 and Article 4, par 9
Approved by AGM vote April 18, 2010
Approved by Industry Canada (Corporations Directorate)
June 01, 2010

Article 1, Para -3, and Article12 Amended and Article 13 Deleted
Approved by AGM vote April 29, 2009
Approved by Industry Canada (Corporations Directorate)
June 19, 2009

Article 6, Para 3 and 6, Article 8, Para’s 2 through 10 and Article 9, Para. 1
Amended and Approved by AGM vote April 27, 2008
Approved by Industry Canada (Corporations Directorate)
June 6, 2008

Article 1, Para 3, Article 6, Para 5 and new Article 13,
Amended and Approved by AGM vote March 13, 2007
Approved by Industry Canada (Corporations Directorate)
April 11, 2007 and June 14, 2007

Article 6, para 8 and Article 11, para 2
Amended and Approved by AGM vote April 23, 2006
Approved by Industry Canada (Corporations Directorate)
May 29, 2006

Article 3, Para -3, and Article 4, Para’s -1, -6 and-8
Amended and Approved by AGM vote May 18, 2005
Approved by Industry Canada (Corporations Directorate)
July 20, 2005