<SEC-DOCUMENT>0001173382-23-000037.txt : 20231103
<SEC-HEADER>0001173382-23-000037.hdr.sgml : 20231103
<ACCEPTANCE-DATETIME>20231103173036
ACCESSION NUMBER:		0001173382-23-000037
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		8
FILED AS OF DATE:		20231103
DATE AS OF CHANGE:		20231103
EFFECTIVENESS DATE:		20231103

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAE INC
		CENTRAL INDEX KEY:			0001173382
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-275323
		FILM NUMBER:		231377458

	BUSINESS ADDRESS:	
		STREET 1:		8585 COTE DE LIESSE
		CITY:			ST-LAURENT
		STATE:			A8
		ZIP:			H4T 1G6
		BUSINESS PHONE:		514-341-6780

	MAIL ADDRESS:	
		STREET 1:		8585 COTE DE LIESSE
		CITY:			ST-LAURENT
		STATE:			A8
		ZIP:			H4T 1G6
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>cae2023-formsx8xomnibuspla.htm
<DESCRIPTION>S-8
<TEXT>
<html><head>
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<title>Document</title></head><body><div id="i77f5c8ece9a149fdbe0b11bdc423f026_1"></div><div style="min-height:54pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As filed with the Securities and Exchange Commission on November 3, 2023</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:122%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Registration No. 333-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div><font><br></font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">UNITED STATES</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Washington, D.C.  20549</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">_______</font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">FORM S-8</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">REGISTRATION STATEMENT UNDER</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">THE SECURITIES ACT OF 1933</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">_______</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">CAE INC.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(Exact name of registrant as specified in its charter)</font></div><div style="padding-left:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.857%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.35pt;padding-right:3.35pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:122%">Canada</font></div><div style="padding-left:3.35pt;padding-right:3.35pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:135%">(State or other jurisdiction of incorporation or organization)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.35pt;padding-right:3.35pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:122%">Not Applicable</font></div><div style="padding-left:3.35pt;padding-right:3.35pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:135%">(I.R.S. Employer</font></div><div style="padding-left:3.35pt;padding-right:3.35pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:135%">Identification No.)</font></div></td></tr></table></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">_______</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8585 C&#244;te-de-Liesse</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Saint-Laurent, Qu&#233;bec, Canada H4T 1G6</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(Address of Principal Executive Offices)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">_______</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">CAE INC. OMNIBUS INCENTIVE PLAN,</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">effective as of May 31, 2023</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(Full title of the Plan)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">_______</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">CAE (US) Inc. </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4908 Tampa West Boulevard</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Tampa, FL 33634</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(Name and address of agent for service)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Tel&#58; (813) 885-7481 </font></div><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(Telephone number, including area code, of agent for service)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Copy to&#58;<br></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mark Hounsell<br>General Counsel, Chief Compliance Officer &#38; Corporate Secretary<br>CAE Inc.<br>8585 C&#244;te-de-Liesse</font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Saint-Laurent, Qu&#233;bec, Canada H4T 1G6  <br>Tel&#160;&#58; (514) 341-6780</font></div><div style="margin-bottom:6pt;text-indent:24.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</font></div><div style="padding-left:4.33pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.702%"><tr><td style="width:1.0%"></td><td style="width:43.228%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.994%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.397%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.994%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.397%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.392%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:29.498%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt;text-indent:-12pt"><font style="font-family:'Wingdings',sans-serif;font-size:8pt;font-weight:700;line-height:100%"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;Large&#160;accelerated&#160;filer</font></div><div style="padding-left:12pt;text-indent:-12pt"><font style="font-family:'Wingdings',sans-serif;font-size:8pt;font-weight:400;line-height:100%"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;Non-Accelerated&#160;filer</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="font-family:'Wingdings',sans-serif;font-size:8pt;font-weight:400;line-height:100%"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;Accelerated&#160;filer</font></div><div><font style="font-family:'Wingdings',sans-serif;font-size:8pt;font-weight:400;line-height:100%"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;Smaller reporting company</font></div><div><font style="font-family:'Wingdings',sans-serif;font-size:8pt;font-weight:400;line-height:100%"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;Emerging growth company</font></div></td></tr></table></div><div style="margin-bottom:6pt;text-indent:24.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"> </font></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:400;line-height:100%"> </font></div></div></div><div id="i77f5c8ece9a149fdbe0b11bdc423f026_4"></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="text-align:center"><font><br></font></div></div><div style="-sec-extract:summary;margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">EXPLANATORY NOTE</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;This Registration Statement on Form S-8 (this &#34;Registration Statement&#34;) is filed by CAE Inc. (the &#8220;Registrant&#8221;) relating to the issuance of up to 10,000,000</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">common shares, without par value, in the capital of the Registrant (the &#8220;Common Shares&#8221;), including associated Common Share purchase rights pursuant to the Registrant&#8217;s shareholder rights plan, which purchase rights will trade together with the Common Shares, available for future purchase under the CAE Inc. Omnibus Incentive Plan, as adopted on May 31, 2023 (the &#8220;Omnibus Incentive Plan&#8221;).</font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">PART I</font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ITEM 1. &#160;&#160;&#160;&#160;General Plan Information.* </font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ITEM 2. &#160;&#160;&#160;&#160;Registrant Information and Employee Plan Annual Information.* </font></div><div style="margin-bottom:12pt;text-align:center"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">*</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The documents containing the information specified in this Part 1 of Form S-8 with respect to the Omnibus Incentive Plan will be delivered to plan participants pursuant to Rule&#160;428(b)(1) of the Securities Act. Information required by Part I to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act of 1933 and the &#8220;Note&#8221; to Part I of Form S-8. These documents and the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act. The Registrant will provide a written statement to participants advising them of the availability without charge, upon written or oral request, of the documents incorporated by reference in Item 3 of Part II hereof. The written statement to all participants will indicate the availability without charge, upon written or oral request, of other documents required to be delivered pursuant to Rule 428(b) under the Securities Act, and will include the address and telephone number to which the request is to be directed.</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">PART II</font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">INFORMATION NOT REQUIRED IN PROSPECTUS</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ITEM 3.&#160;&#160;&#160;&#160;Incorporation of Documents by Reference.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The following documents previously filed by the Registrant with the Securities and Exchange Commission (the &#8220;Commission&#8221;) are incorporated by reference in this Registration Statement&#58;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">a)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.24pt">The Registrant&#8217;s Annual Report on Form 40-F filed with the Commission on June 22, 2023 (Commission File No.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1-31402)&#59; and </font></div><div style="margin-bottom:12pt;padding-left:54pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">b)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:9.67pt">The description of the Common Shares, included in the registration statement on Form F-10, filed with the Commission on November 16, 2020, as amended and supplemented (Commission File No. 333-250113).</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">In addition, all reports and documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all of such securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing of such reports or documents. The Registrant may incorporate by reference its future reports on Form 6-K by stating in those reports that they are being incorporated by reference into this Registration Statement.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Any statement contained herein or in a report or document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in any subsequently filed report or document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"> </font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ITEM 4.&#160;&#160;&#160;&#160;Description of Securities.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Not applicable.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ITEM 5.&#160;&#160;&#160;&#160;Interests of Named Experts and Counsel.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Not applicable.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ITEM 6.&#160;&#160;&#160;&#160;Indemnification of Directors and Officers.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Under the Canada Business Corporations Act (the &#8220;CBCA&#8221;), a corporation may indemnify a director or officer of the corporation, a former director or officer of the corporation or another individual who acts or acted at the corporation&#8217;s request as a director or officer of another entity against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by him or her in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of that association with the corporation or such other entity, if (a) he or she acted honestly and in good faith with a view to the best interests of the corporation or, as the case may be, to the best interests of such other entity, and (b) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, he or she had reasonable grounds for believing that his or her conduct was lawful. Where that action is by or on behalf of the corporation or that other entity, the approval of the court is also required.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">In accordance with the CBCA, the By-laws of the Registrant provide that the Registrant shall indemnify a director or officer of the Registrant, a former director or officer of the Registrant or a person who acts or acted at the Registrant&#8217;s request, as a director or officer of another entity, and the heirs and legal representatives of such a person to the extent permitted under the CBCA.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">A policy of directors&#8217; and officers&#8217; liability insurance is maintained by the Registrant which insures directors and officers of the Registrant for losses as a result of claims based upon their acts or omissions as directors and officers, including liabilities under the Securities Act of 1933, and also reimburses the Registrant for payments made pursuant to the indemnity provisions under the CBCA.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ITEM 7.&#160;&#160;&#160;&#160;Exemption from Registration Claimed.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Not applicable.</font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ITEM 8.&#160;&#160;&#160;&#160;Exhibits.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unless otherwise indicated below as being incorporated by reference to another filing of the Registrant with the Commission, each of the following exhibits is filed herewith&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:14.740%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:83.060%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Exhibit No.</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Exhibit Description</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.1</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="https://www.sec.gov/Archives/edgar/data/1173382/000117338216000049/forms-8exhibit41.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Registrant&#8217;s Articles of Amalgamation dated April 1, 2014 (incorporated by reference to Exhibit 4.1 to the Registrant&#8217;s Registration Statement on Form S-8 filed with the Commission on September 20, 2016 (Commission File No. 333-213708))</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="https://www.sec.gov/Archives/edgar/data/1173382/000117338216000049/forms-8exhibit42.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Registrant&#8217;s By-laws, adopted by the Registrant&#8217;s Board of Directors on February 6, 2015 and confirmed by the Registrant&#8217;s shareholders on August 12, 2015 (incorporated by reference to Exhibit 4.2 to the Registrant&#8217;s Registration Statement on Form S-8 filed with the Commission on September 20, 2016 (Commission File No. 333-213708))</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.3</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="https://www.sec.gov/Archives/edgar/data/1173382/000117338223000019/cae2023-form6xkomnibusince.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">CAE Inc. Omnibus Incentive Plan, as adopted on May 31, 2023 (incorporated by reference to Exhibit 10.1 to the Registrant&#8217;s Current Report on Form 6-K filed on June 22, 2023 (Commission File No. 1-31402))</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.1</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="cae2023-nrfopinionxsx8regi.htm" style="-sec-extract:exhibit;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Opinion of Norton Rose Fulbright Canada LLP</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23.1</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Consent of Norton Rose Fulbright Canada (contained in Exhibit 5.1)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="image_0.jpg" style="-sec-extract:exhibit;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Consent of PricewaterhouseCoopers LLP, Montreal, Qu&#233;bec</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24.1</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Power of Attorney (contained on signature page of this Registration Statement)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">107</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="cae2023-formsx8xex107can_d.htm" style="-sec-extract:exhibit;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Filing Fee Tables</a></font></div></td></tr></table></div><div style="margin-bottom:6pt"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ITEM 9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Undertakings.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(a)&#160;&#160;&#160;&#160;The undersigned Registrant hereby undertakes&#58;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-indent:-22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.84pt">To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement&#58;</font></div><div style="margin-bottom:12pt;padding-left:103.5pt;text-indent:-40.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(i)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:31.07pt">to include any prospectus required by Section 10(a)(3) of the Securities Act&#59;</font></div><div style="margin-bottom:12pt;padding-left:103.5pt;text-indent:-40.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(ii)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:28.3pt">to reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement (notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in this Registration Statement)&#59; and&#59;</font></div><div style="margin-bottom:12pt;padding-left:103.5pt;text-indent:-40.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(iii)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:25.53pt">to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement&#59;</font></div><div style="margin-bottom:12pt;padding-left:63pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">provided, however</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement&#59;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-indent:-22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.84pt">that, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">bona fide</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> offering thereof&#59; and</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-indent:-22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.84pt">to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></div><div style="margin-bottom:0.12pt;padding-left:18pt;text-indent:-4.5pt"><font><br></font></div><div style="margin-bottom:0.12pt"><font><br></font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(b)&#160;&#160;&#160;&#160;The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&#8217;s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">bona fide</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> offering thereof.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(c)&#160;&#160;&#160;&#160;Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</font></div><div style="margin-bottom:12pt;text-align:center"><font><br></font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">SIGNATURES</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Montreal, Province of Qu&#233;bec, Canada, on this 3</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">rd</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> day of November, 2023.</font></div><div style="margin-bottom:30pt;padding-left:243pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">CAE INC.</font></div><div style="padding-left:243pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By&#58; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">&#47;s&#47; Mark Hounsell</font></div><div style="padding-left:243pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name&#58;&#160;&#160;&#160;&#160;Mark Hounsell</font></div><div style="padding-left:279pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title&#58;&#160;&#160;&#160;&#160;General Counsel, Chief Compliance Officer and Corporate Secretary </font></div><div style="margin-bottom:18pt;padding-left:243.35pt"><font><br></font></div><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">POWER OF ATTORNEY</font></div><div style="margin-bottom:6pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Each person whose signature appears below constitutes and appoints each of Sonya Branco and Mark Hounsell as his or her true and lawful attorney-in-fact and agent, each acting alone, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any or all amendments (including post-effective amendments) to this Registration Statement on Form S-8 of CAE Inc. (and any additional registration statement related thereto permitted by Rule 462(b) promulgated under the Securities Act of 1933 (and all further amendments including post-effective amendments thereto)), and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, each acting alone, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, each acting alone, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by or on behalf of the following persons in the capacities indicated on November 3</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">rd</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">, 2023&#58;</font></div><div style="margin-bottom:0.12pt;text-indent:0.72pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.293%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.528%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.879%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Signature</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9.72pt;padding-right:9.72pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">Title</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.85pt;padding-right:8.6pt"><font><br></font></div></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Alan N. MacGibbon </font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Alan N. MacGibbon</font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chair of the Board</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Marc Parent</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Marc Parent</font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">President and Chief Executive Officer and Director (Principal Executive Officer)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:18pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Ayman Antoun</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Ayman Antoun</font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Director</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:8.6pt;padding-right:10.85pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Margaret S. (Peg) Billson</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">&#160;&#160;&#160;&#160;</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Margaret S. (Peg) Billson</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:8.6pt;padding-right:10.85pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Director</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Sophie Brochu&#160;&#160;&#160;&#160;</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Sophie Brochu</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:8.6pt;padding-right:15.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Director</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Elise Eberwein</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Elise Eberwein</font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Director</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="text-align:center"><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.293%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.528%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.879%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Marianne Harrison</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Marianne Harrison</font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Director</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15.35pt;padding-right:8.6pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Mary Lou Maher</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Mary Lou Maher</font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Director</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15.35pt;padding-right:8.6pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Fran&#231;ois Olivier</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Fran&#231;ois Olivier</font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Director</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; David Perkins</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">David Perkins</font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Director</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Michael E. Roach</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Michael E. Roach</font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Director</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15.35pt;padding-right:8.6pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Patrick M. Shanahan</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Patrick M. Shanahan</font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Director</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15.35pt;padding-right:8.6pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Andrew J. Stevens</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Andrew J. Stevens</font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Director</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Sonya Branco</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Sonya Branco</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Executive Vice President, Finance and Chief Financial Officer</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">(Principal Financial Officer)</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:6pt;padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline">&#47;s&#47; Constantino Malatesta</font></div><div style="padding-left:8.6pt;padding-right:8.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Constantino Malatesta </font></div></td><td colspan="3" style="padding:2px 1pt 2px 9.62pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Accounting Officer and Vice President, Corporate Controller (Principal Accounting Officer)</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt;text-align:center"><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font><br></font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div></div></div><div id="i77f5c8ece9a149fdbe0b11bdc423f026_7"></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exhibit 107</font></div></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">AUTHORIZED REPRESENTATIVE</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pursuant to the requirements of Section 6(a) of the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of CAE Inc., has signed this Registration Statement in the City of Tampa, State of Florida on November 3</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">rd</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">, 2023.</font></div><div style="padding-left:288pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">AUTHORIZED U.S. REPRESENTATIVE</font></div><div style="padding-left:288pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:288pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:288pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">By&#58;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;text-decoration:underline"> &#47;s&#47; Sarah M. Graves</font></div><div style="padding-left:288pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Name&#58;&#160;&#160;&#160;&#160;Sarah M. Graves</font></div><div style="padding-left:288pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Title&#58;&#160;&#160;&#160;&#160;Vice President &#38; General Counsel</font></div><div style="padding-left:288pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">&#160;&#160;&#160;&#160;Defense &#38; Security, CAE USA Inc. and Authorized Representative</font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>2
<FILENAME>cae2023-formsx8xex107can_d.htm
<DESCRIPTION>EX-FILING FEES
<TEXT>
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<title>Document</title></head><body><div id="ib6a204e08d27459ab9b6942b908d9ca1_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exhibit 107</font></div></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Calculation of Filing Fee Tables</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Form S-8</font></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Form Type)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">CAE Inc.</font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Exact Name of Registrant as Specified in its Charter)</font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Table 1 &#8211; Newly Registered Securities</font></div><div style="padding-left:71.6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:81.683%"><tr><td style="width:1.0%"></td><td style="width:1.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.854%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.884%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.915%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.506%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.359%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Security Type</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Security Class Title</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fee Calculation Rule</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Amount Registered(ii)</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Proposed Maximum Offering Price Per Share (iv)</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Maximum Aggregate Offering Price (iv)</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fee Rate</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Amount of Registration Fee</font></td></tr><tr><td colspan="6" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Equity</font></td><td colspan="3" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Common Shares(i)</font></td><td colspan="3" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rule 457(h)</font></td><td colspan="3" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,000,000 common shares(iii)</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$20.60</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$206,000,000.00</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$0.00014760</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$30,405.60</font></td></tr><tr><td colspan="15" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Offering Amounts</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$206,000,000.00</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$30,405.60</font></td></tr><tr><td colspan="15" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Fee Offsets</font></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$0.00</font></td></tr><tr><td colspan="15" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net Fee Due</font></td><td colspan="3" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$30,405.60</font></td></tr><tr><td colspan="3" style="border-top:0.75pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(i)</font></td><td colspan="24" style="border-top:0.75pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Includes associated Common Share purchase rights. The value, if any, attributable to the rights is reflected in the market price of the Common Shares.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(ii)</font></td><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), this Registration Statement also covers an indeterminate number of additional common shares of the Registrant (&#8220;Common Shares&#8221;) that may result from subdivisions, consolidations, reclassifications or similar transactions with respect to the Common Shares, the payment of share dividends by the Registrant, or other relevant changes in the capital of the Registrant in accordance with the provisions of the CAE Inc. Omnibus Incentive Plan, as adopted on May 31, 2023 (the &#8220;Omnibus Incentive Plan&#8221;).</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(iii)</font></td><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Common Shares available for future issuance under the Omnibus Incentive Plan.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(iv)</font></td><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Estimated in accordance with Rule 457(c) and 457(h) solely for purposes of calculating the registration fee. The maximum price per Security and the maximum aggregate offering price are based on the average of the&#160;$20.81&#160;(high) and&#160;$20.39&#160;(low) prices of the Registrant&#8217;s common shares as reported on the NYSE on October 27, 2023.</font></div></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.801%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td></tr></table></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>cae2023-nrfopinionxsx8regi.htm
<DESCRIPTION>OPINION OF NORTON ROSE FULBRIGHT
<TEXT>
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<title>Document</title></head><body><div id="idd9d15e13ba2493d87e731a24c5a1154_1"></div><div style="min-height:35.28pt;width:100%"><div><font><br></font></div></div><div style="margin-top:4.05pt;padding-right:6.85pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Exhibit 5.1</font></div><div style="padding-left:254.75pt"><img alt="image_0a.jpg" src="image_0a.jpg" style="height:32px;margin-bottom:5pt;vertical-align:text-bottom;width:285px"></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:38.148%"><div style="margin-top:0.4pt;padding-left:4.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 3, 2023</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="margin-top:0.05pt;padding-left:4.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">CAE Inc.</font></div><div style="padding-left:4.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">8585 C&#244;te-de-Liesse</font></div><div style="padding-left:4.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Saint-Laurent, QC H4T 1G6 </font></div><div style="padding-left:4.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Canada</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-top:8.25pt;padding-left:6pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ladies and Gentlemen&#58;</font></div></div><div style="display:inline-block;max-width:23.702%;min-width:22.702%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:38.150%"><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Norton Rose Fulbright Canada </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%">LLP</font></div><div style="margin-top:1.85pt;padding-right:82.8pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:139%">1 Place Ville Marie, Suite 2500 Montr&#233;al, Quebec H3B 1R1 Canada</font></div><div style="margin-top:6.25pt"><font style="color:#ee2923;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">nortonrosefulbright.com</font></div><div style="margin-top:0.05pt"><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Direct line</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">+1 514.847.4747</font></div><div style="margin-top:0.55pt"><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Our reference </font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1001133624</font></div><div style="margin-top:8.25pt;padding-left:6pt"><font><br></font></div></div></div><div style="margin-top:4.6pt;padding-left:6pt"><font><br></font></div><div style="margin-top:0.04pt;padding-left:4.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:100%">CAE Inc. &#8211; Registration of Common Shares on Form S-8</font></div><div style="margin-top:0.15pt"><font><br></font></div><div style="padding-left:42pt;text-indent:-36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%;padding-left:29.89pt">SCOPE AND BACKGROUND</font></div><div style="margin-top:0.55pt"><font><br></font></div><div style="padding-left:6pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Introduction</font></div><div style="margin-top:0.45pt"><font><br></font></div><div style="padding-left:77.95pt;padding-right:6.8pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:22.11pt">We have acted as Canadian counsel for CAE Inc. (the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">) in connection with the filing by the Corporation with the Securities and Exchange Commission (the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Commission</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">) of a Registration Statement on Form S-8 (the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Registration Statement</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">) under the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Securities Act of 1933</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">, as amended (the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Securities Act</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">), to register an aggregate of 10,000,000 common shares in the capital of the Corporation (the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Common Shares</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">) issuable pursuant to the CAE Inc. Omnibus Incentive Plan, effective as of May 31, 2023 (the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Plan</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">).</font></div><div style="margin-top:0.55pt"><font><br></font></div><div style="padding-left:5.95pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Examination of Documents</font></div><div style="margin-top:0.45pt"><font><br></font></div><div style="padding-left:77.95pt;padding-right:6.8pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:22.11pt">We have examined and are familiar with the Registration Statement. We have made such investigations and examined such corporate records of the Corporation as we have considered necessary or relevant for our opinion, including&#58;</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="padding-left:132pt;text-indent:-54.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.2.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:31.83pt">a certified copy of the Plan&#59;</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="margin-top:0.05pt;padding-left:131.95pt;padding-right:6.85pt;text-align:justify;text-indent:-54pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.2.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:31.78pt">a certified copy of the resolution adopted by the Corporation&#8217;s shareholders at the annual meeting of shareholders held on August 9, 2023 to approve the Plan&#59;</font></div><div style="margin-top:0.45pt"><font><br></font></div><div style="margin-top:0.05pt;padding-left:131.95pt;padding-right:6.8pt;text-align:justify;text-indent:-54pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.2.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:31.78pt">certified copies of the resolution adopted by the board of directors of the Corporation dated May 31, 2023 to approve the Plan and related matters&#59; and</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="padding-left:131.95pt;padding-right:6.8pt;text-align:justify;text-indent:-54pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.2.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:31.78pt">a certified copy of the certificate and articles of amalgamation of the Corporation dated April 1, 2014, and the by-laws of the Corporation dated February 6, 2015 and confirmed by the shareholders of the Corporation on August 12, 2015.</font></div><div style="margin-top:0.45pt"><font><br></font></div><div style="padding-left:77.95pt;padding-right:6.85pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:22.11pt">In such examination, we have assumed the genuineness of all signatures, the authenticity of all documents, certificates and instruments submitted to us as originals and the conformity with originals of all documents submitted to us as copies.</font></div><div style="height:35.28pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="idd9d15e13ba2493d87e731a24c5a1154_4"></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div style="padding-left:273.85pt"><img alt="image_1a.jpg" src="image_1a.jpg" style="height:29px;margin-bottom:5pt;vertical-align:text-bottom;width:268px"></div><div style="margin-top:0.6pt;padding-left:5.95pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">CAE Inc.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="margin-top:0.05pt;padding-left:5.95pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 3, 2023</font></div><div><font><br></font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="margin-top:4.7pt;padding-left:5.95pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Jurisdiction</font></div><div style="margin-top:0.55pt"><font><br></font></div><div style="padding-left:77.95pt;padding-right:6.9pt;text-align:justify;text-indent:-36.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:22.16pt">The opinion expressed below is limited to the laws of the Province of Quebec and the federal laws of Canada applicable therein as the same are in force at the date hereof, and we do not express any opinion herein concerning the laws of any other jurisdiction.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="padding-left:77.95pt;padding-right:6.75pt;text-align:justify;text-indent:-36.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:22.16pt">Our opinion is given as of the date hereof and we do not in any event undertake to advise you of any facts or circumstances occurring or coming to our attention subsequent to the date hereof.</font></div><div style="margin-top:0.45pt"><font><br></font></div><div style="padding-left:41.95pt;text-indent:-35.95pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%;padding-left:29.84pt">OPINION</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="padding-left:78pt;padding-right:6.9pt;text-align:justify;text-indent:-36.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:22.16pt">Based on and subject to the foregoing, we are of the opinion that the Common Shares to be issued pursuant to the Plan, if and when issued in accordance with the terms and conditions of the Plan, will be validly issued as fully paid and non-assessable shares of the Corporation.</font></div><div style="margin-top:0.55pt"><font><br></font></div><div style="padding-left:5.95pt;padding-right:6.85pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement and the references to our firm name therein. In giving this consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission.</font></div><div><font><br></font></div><div style="margin-top:0.05pt;padding-left:5.95pt"><font><br></font></div><div style="padding-left:4.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Very truly yours,</font></div><div style="margin-top:0.05pt;padding-left:5.95pt"><img alt="image_2a.jpg" src="image_2a.jpg" style="height:68px;margin-bottom:5pt;vertical-align:text-bottom;width:410px"></div><div style="margin-top:0.35pt"><font><br></font></div><div style="padding-left:5.95pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NORTON ROSE FULBRIGHT CANADA LLP</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="margin-top:4.7pt;padding-left:0.47pt;padding-right:0.47pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2</font></div><div style="height:35.28pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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<FILENAME>caeincs-8xpwcconsentnovemb.htm
<DESCRIPTION>CONSENT FROM PRICEWATERHOUSECOOPERS
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<html><head>
<!-- Document created using Wdesk -->
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<title>Document</title></head><body><div id="i133fab3a752449f3972987a0b6ab804f_1"></div><div style="min-height:156.24pt;width:100%"><div><img alt="image_0.jpg" src="image_0.jpg" style="height:77px;margin-bottom:5pt;vertical-align:text-bottom;width:101px"></div></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:125%">Consent of Independent Registered Public Accounting Firm</font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">We hereby consent to the incorporation by reference in this registration statement on form S-8 of CAE&#160;Inc. of our report dated May 31, 2023 relating to the consolidated financial statements and effectiveness of internal control over financial reporting, which appears in Exhibit&#160;99.2 of&#160;CAE Inc.&#8217;s Annual Report on form&#160;40-F for the year ended March 31, 2023.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:125%">&#47;s&#47;PricewaterhouseCoopers LLP</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Montr&#233;al, Quebec, Canada</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">November 3, 2023</font></div><div style="height:100.8pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Georgia',serif;font-size:9pt;font-weight:400;line-height:100%">PricewaterhouseCoopers LLP</font></div><div><font style="color:#000000;font-family:'Georgia',serif;font-size:9pt;font-weight:400;line-height:100%">1250 Ren&#233;-L&#233;vesque Boulevard West, Suite 2500, Montr&#233;al, Quebec, Canada H3B 4Y1</font></div><div><font style="color:#000000;font-family:'Georgia',serif;font-size:9pt;font-weight:400;line-height:100%">T&#58; +1 514 205 5000, F&#58; +1 514 876 1502, ca_montreal_main_fax&#64;pwc.com, www.pwc.com&#47;ca</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:100%">&#8220;PwC&#8221; refers to PricewaterhouseCoopers LLP, an Ontario limited liability partnership.</font></div><div><font><br></font></div></div></div></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
