ONEX Onex Corporation

Onex Corporation (the “Company”) (TSX: ONEX) announced today that, in connection with the Company’s ongoing substantial issuer bid (the “Offer”), the Company has obtained an order from the Ontario Securities Commission granting exemptive relief from certain extension, proportionate take-up and related disclosure requirements in connection with the Offer, the details of which can be found in the offer to purchase and issuer bid circular filed by the Company in connection with the Offer (the “Circular”), which is available on SEDAR+ at www.sedarplus.ca.

Details of the Offer, including instructions for tendering subordinate voting shares of the Company (the “Subordinate Voting Shares”), are included in the Circular, letter of transmittal and the notice of guaranteed delivery (collectively, the “Offer Documents”). The Offer Documents are available on SEDAR+ at www.sedarplus.ca, as well as on the Company's website at www.onex.com. Shareholders should carefully read the Offer Documents prior to making a decision with respect to the Offer.

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell the Subordinate Voting Shares. The solicitation and the offer to buy the Subordinate Voting Shares will only be made pursuant to the Offer Documents.

ABOUT ONEX

Onex invests and manages capital on behalf of its shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies, family offices and high-net-worth individuals. In total, Onex has approximately $50 billion in assets under management, of which $8.5 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedarplus.ca.

CAUTION REGARDING FORWARD LOOKING STATEMENTS

This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.

FOR FURTHER INFORMATION:

Jill Homenuk Managing Director – Shareholder Relations and Communications Tel: +1 416.362.7711

Zev Korman Vice President, Shareholder Relations and Communications Tel: +1 416.362.7711