Mr. Paul Raymond Files an Early Warning Report

Montreal, Quebec--(Newsfile Corp. - September 2, 2026) - Mr. Paul Raymond, President and Chief Executive Officer of Alithya Group Inc. ("Alithya"), filed today an early warning report with respect to his holding of Class B multiple voting shares ("Class B Shares") of Alithya, as required by applicable securities laws.

On September 2, 2026, Mr. Raymond acquired 75,000 Class B Shares from Mr. Ghyslain Rivard, a director of Alithya, for an aggregate purchase price of $84,165.75 (the "Acquisition"). The Acquisition was made in the context of a sale, for estate planning purposes, of an aggregate of 150,000 Class B Shares to Mr. Raymond and Mr. Pierre Turcotte, Chairman of the Board of Directors of Alithya, in equal parts. The price per Class B Share was $1.12221, being the volume weighted average trading price of the Class A subordinate voting shares ("Class A Shares") of Alithya on the Toronto Stock Exchange for the 20 trading days immediately preceding the Acquisition.

Before the Acquisition, a total of 7,326,880 Class B Shares and 89,438,673 Class A Shares were issued and outstanding. Mr. Raymond personally held 508,306 Class B Shares (representing 6.94% of the issued and outstanding Class B Shares) and Fiducie Direxions ("Direxions") owned 571,832 Class B Shares (representing 7.80% of the issued and outstanding Class B Shares). This represented, in the aggregate (the "Total Class B Ownership") 1,080,138 Class B Shares beneficially owned and controlled by Mr. Raymond (representing 14.74% of the issued and outstanding Class B Shares).

Pursuant to the Acquisition, Mr. Raymond acquired 75,000 Class B Shares, representing 1.02% of the issued and outstanding Class B Shares, resulting in a Total Class B Ownership of 1,155,138 Class B Shares, representing 15.77% of the issued and outstanding Class B Shares, of which 583,306 Class B Shares are held personally and 571,832 Class B Shares are owned by Direxions.

In addition, Mr. Raymond beneficially owns and controls (a) 200,000 options to purchase Class B Shares (all of which are vested); (b) 692,693 Class A Shares; (c) 922,691 options to purchase Class A Shares (all of which are vested); (d) 936,074 restricted share units (none of which are vested); (e) 936,074 performance share units (none of which are vested); and (f) 236,786 deferred share units which settle in Class A Shares (all of which are vested, but none of which can be settled within 60 days).

Assuming (a) the exercise of the Class B Options, 200,000 Class B Shares would be issued and the Total Class B Ownership would increase to 1,355,138 Class B Shares (representing 18.00% of the issued and outstanding Class B Shares) and (b) the exercise of the Class A Options, 922,691 Class A Shares would be issued and the Total Class A ownership would increase to 1,615,384 Class A Shares (representing 1.79% of the issued and outstanding Class A Shares), and Mr. Raymond would control approximately 9.16% of the total voting rights outstanding of Alithya (based on the number of Class B Shares and Class A Shares outstanding as of the date hereof and after giving effect to the issuance of the 200,000 Class B Shares and the 922,691 Class A Shares issuable under the Class B Options and the Class A Options). Of such ownership of 1,355,138 Class B Shares and 1,615,384 Class A Shares, (i) Mr. Raymond would beneficially own and control 783,306 Class B Shares (representing 10.41% of the issued and outstanding Class B Shares) and 1,615,384 Class A Shares (representing 1.79% of the issued and outstanding Class A Shares) and (ii) Mr. Raymond would control, and Direxions would own, 571,832 Class B Shares (representing 7.60% of the issued and outstanding Class B Shares).

Assuming (a) the exercise of the Class B Options, 200,000 Class B Shares would be issued and the Total Class B Ownership would increase to 1,355,138 Class B Shares (representing 18.00% of the issued and outstanding Class B Shares) and (b) the exercise of the Class A Options, and settlement in full of the RSUs, PSUs and DSUs, 3,031,625 Class A Shares would be issued and the Total Class A ownership would increase to 3,724,318 Class A Shares (representing 4.03% of the issued and outstanding Class A Shares), and Mr. Raymond would control approximately 10.30% of the total voting rights outstanding of Alithya (based on the number of Class B Shares and Class A Shares outstanding as of the date hereof and after giving effect to the issuance of the 200,000 Class B Shares and the 922,691 Class A Shares issuable under the Class B Options and the Class A Options as well as the RSUs, the PSUs and the DSUs). Of such ownership of 1,355,138 Class B Shares and 3,724,318 Class A Shares, (i) Mr. Raymond would beneficially own and control 783,306 Class B Shares (representing 10.41% of the issued and outstanding Class B Shares) and 3,724,318 Class A Shares (representing 4.03% of the issued and outstanding Class A Shares) and (ii) Mr. Raymond would control, and Direxions would own, 571,832 Class B Shares (representing 7.60% of the issued and outstanding Class B Shares).

Mr. Raymond is a trustee of Direxions and has the sole power to direct investments and vote its securities. Direxions may be considered to be a joint actor with Mr. Raymond.

For further information or to obtain a copy of the early warning report filed by Mr. Raymond (which is available under Alithya's SEDAR+ profile at www.sedarplus.ca), please contact:

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