“The Court’s approval for our proposed recapitalization go-private transaction builds on the strong shareholder voting support we received last week, bringing us another step closer to finalizing the transaction,” said Mark Redmond, President and CEO of SiriusXM Canada. “With the final order in hand and our shareholder approval in place, we will continue to work to secure the necessary CRTC regulatory approval to close the transaction in a timely fashion.”

The Arrangement remains subject to the receipt of regulatory approval from the Canadian Radio-television and Telecommunications Commission and the satisfaction or waiver of customary closing conditions.

Letter of Transmittal and Election Form

Enclosed with the management information circular dated July 29, 2024 (the “Circular”), and mailed to registered Company shareholders, was a letter of transmittal and election form (the “Letter of Transmittal”) explaining how registered Company shareholders can elect, subject to applicable conditions and proration, cash, shares in Sirius XM Holdings Inc. (“SIRI”), or exchangeable shares, or a combination thereof, as well as how registered Company shareholders can deposit and obtain payment for their Company shares once the Arrangement is completed. The availability of exchangeable share consideration is subject to receipt of the exemptive relief, as described in the Circular, and Company shares being exchanged for exchangeable shares having an aggregate equivalent value of at least $25,000,000. Non-registered Company shareholders should carefully follow the instructions from the intermediary that holds Company shares on their behalf in order to make an election. A copy of the Letter of Transmittal is also available on the Company’s SEDAR profile at www.sedar.com and on the Company’s dedicated transaction website atwww.siriusxmcanadatransaction.ca.

The Company will provide at least 10 business days’ notice of the deadline (the “Election Deadline”) for making an election between cash, SIRI shares, or exchangeable shares, or a combination thereof, to Company shareholders by means of a news release disseminated on a national newswire in Canada. The announcement of the Election Deadline will occur following satisfaction of conditions of the Arrangement (as further described in the Circular).