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TORONTO, ONTARIO -- (Marketwired) -- 08/13/14 --

All amounts in U.S. dollars unless otherwise stated

Onex Corporation ("Onex") (TSX:OCX) today announced its consolidated financial results for the second quarter and six months ended June 30, 2014 and an update on matters following quarter-end.

Highlights

--  In July, Onex agreed to acquire York Risk Services Group ("York"), a
    premier provider of risk management, claims management and managed care
    services, in a transaction valued at $1.325 billion. 
    
--  Previously announced sales of Gates Corporation ("Gates") and The
    Warranty Group ("TWG") were completed: 
    
    --  In July, Onex and CPPIB completed the sale of Gates for $5.4
        billion. Combined with prior distributions, this resulted in a gross
        multiple of capital invested of 2.2 times and a gross IRR of 26%. In
        total Onex received proceeds of $713 million, including $53 million
        of carried interest. 
        
    --  In August, Onex completed the sale of TWG for $1.5 billion. Combined
        with prior distributions, this resulted in a gross multiple of
        capital invested of 3.1 times and a gross IRR of 19%. In total Onex
        received proceeds of $508 million, including $50 million of carried
        interest.
        
        
--  In July, ONCAP agreed to sell Mister Car Wash. The ONCAP II Group
    expects to receive net proceeds of approximately $380 million on the
    sale, of which Onex' share is expected to be approximately $150 million.
    This represents a gross multiple of capital invested of about 8.0 times
    (7.4 times in CAD) and a gross IRR of 36% (34% in CAD). 
    
--  In August, Onex sold its remaining shares in Spirit AeroSystems. Over
    the course of the nine-year investment, the Onex Group has received
    aggregate proceeds of approximately $3.2 billion, resulting in a gross
    multiple of capital invested of 8.5 times and a gross IRR of 201%. In
    total Onex received proceeds of approximately $975 million, including
    approximately $118 million of carried interest. 
    
--  In June, Onex Credit Partners ("OCP") completed its largest
    collateralized loan obligation ("CLO") to-date, offering approximately
    $1 billion in securities and loans in a private placement transaction
    that included approximately $90 million purchased by Onex. 
    
--  Including realizations and distributions, the value of Onex Partners'
    and ONCAP's private companies increased by 10% during the first six
    months of 2014. Including our public companies, the value of all
    operating businesses in the Onex Partners and ONCAP Funds, including
    realizations and distributions, increased by 9%. 
    
--  Including Onex' cash and near-cash equivalents of $2.0 billion and other
    investments, Onex' capital per share grew by 4% and 16% in the six and
    twelve months ended June 30, 2014, respectively, to $52.72 (C$56.26). 
    
--  Onex' fee-generating assets increased by 24% and 57% in the six and
    twelve months ended June 30, 2014, respectively, as a result of the
    recent success raising Onex Partners IV and several CLO issuances. 

Recent Performance

"We have never been in a better position to acquire world-class businesses. Onex Partners IV is completely untapped and Onex has plenty of liquidity for almost any acquisition," said Gerry Schwartz, Chairman and Chief Executive Officer of Onex. "Our acquisition of York Risk Services Group is a great example of a business that, with our backing, can reach new heights both through organic and acquisition growth."

York is the leading provider of insurance solutions to property, casualty, and workers' compensation specialty markets in the United States. In addition to strong organic growth prospects, Onex believes there is a compelling opportunity to expand York's business through executing on a number of accretive add-on acquisitions. The equity investment of approximately $560 million will be made by Onex Partners III, certain limited partners as co-investors, including Onex, and York's management team. The transaction is expected to close during the second half of 2014, subject to customary closing conditions.

Our success in building our businesses and the continued strength of credit and equity markets have made this a great time to realize on the value we have created. This year, Onex' share of completed and previously announced realizations and distributions will be approximately $1.8 billion, including $166 million of carried interest - a record year for the firm. Over its thirty- year history, Onex has generated a gross IRR of 28% and a gross multiple of 3.0 times capital invested from realized, substantially realized and publicly traded investments.

Onex management continues to share in the success and failure of our operating companies through the team's significant investment in everything we buy. At June 30, 2014, the value of the team's investment in Onex' businesses and its shares was approximately $1.9 billion.

Creating Value for Shareholders

Onex has two long-term goals. The first is to grow its capital per share by 15% per annum. For the twelve months ended June 30, 2014, Onex' capital per share grew by 16% to $52.72 (C$56.26). Onex' second long-term goal is to grow its fee-generating assets by 10% annually. For the twelve months ended June 30, 2014, Onex' fee-generating assets grew by 57% to $14.8 billion. This was primarily the result of raising Onex Partners IV, from which Onex started drawing management fees in August, and Onex Credit Partners' success with its CLO issuances.

If we are successful in achieving these two goals over the long-term, we believe Onex' shares will reflect both the growth in the value of our investments and the growing contribution from managing investments for our limited partners and other investors. At June 30, 2014, Onex' Subordinate Voting Shares ("SVS") closed at C$66.02, a 15% increase from December 31, 2013, and a 38% increase over the last twelve months. This compares to increases in the S&P 500 and S&P/TSX Composite Index of 6% and 11%, respectively, from December 31, 2013, and increases of 22% and 25%, respectively, over the last twelve months.

Onex paid a second-quarter dividend of C$0.05 per SVS on July 31, 2014 to shareholders of record on July 10, 2014. This represents a 33% increase in Onex' quarterly dividend, as approved by the Board of Directors in May.

In the first seven months of 2014, Onex repurchased approximately 2 million SVS for a total cost of $115 million (C$124 million), or an average cost per share of C$63.66.

Consolidated Results

Onex' quarterly and full-year consolidated financial results do not follow any specific trends due to acquisitions and dispositions of businesses, changes in the value of its publicly traded and privately held operating companies and varying business cycles at its operating companies.

On a consolidated basis for the second quarter, revenues were largely unchanged compared to the same period of the prior year at $5.2 billion. Onex reported consolidated net earnings of $39 million compared to a net loss of $718 million in the second quarter of 2013. Onex' net earnings for second quarter of 2014 include earnings from discontinued operations of $447 million compared to a loss of $93 million in 2013. Earnings from discontinued operations for 2014 reflect improved results for Spirit AeroSystems and include a gain of $310 million recognized on the partial sale of Spirit AeroSystems in June 2014.

On a consolidated basis for the six months ended June 30, 2014, revenues decreased 1% to $10.0 billion. Net earnings for the period were $138 million compared to a net loss of $989 million for the six months ended June 30, 2013. Onex' net earnings for the first half of 2014 include earnings from discontinued operations of $613 million compared to a loss of $7 million for the same period in 2013. Earnings from discontinued operations for the first six months of 2014 reflect improved results for Spirit AeroSystems and a $310 million gain recognized from the partial sale of Spirit AeroSystems in June 2014.

Attached are the Unaudited Interim Consolidated Balance Sheets, Statements of Earnings, Statements of Cash Flows and information by industry segment for three and six months ended June 30, 2014 and 2013 as prepared under International Financial Reporting Standards. The complete financial statements, including Management's Discussion and Analysis of the results, are posted on Onex' website, www.onex.com, and are also available on SEDAR at www.sedar.com. Also attached is the "How We Are Invested" schedule, which details Onex' $5.9 billion of proprietary capital and provides private company performance information.

Webcast

Onex management will host a conference call to review Onex' second-quarter 2014 results on Wednesday, August 13 at 11:00 a.m. ET. A live webcast of this conference call will be available in listen-only mode on its website, www.onex.com.

About Onex

With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. The Company has approximately $22 billion of assets under management, including $6 billion of Onex capital, in private equity and credit securities. Onex invests its capital directly and as the largest limited partner in each of its Funds.

Onex' businesses have assets of $31 billion, generate annual revenues of $24 billion and employ approximately 200,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The Company's security filings can also be accessed at www.sedar.com.

This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward- looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

                                    ONEX                                    
                                                                            
                             HOW WE ARE INVESTED                            
All dollar amounts, unless otherwise noted, are in millions of U.S. dollars.
                                                                            
                                Onex' Capital                               
                                                                            
                                                      June 30,  December 31,
As at                                                     2014          2013
----------------------------------------------------------------------------
Private Equity                                                              
Onex Partners                                                               
  Private Companies(1)                                 $ 2,199       $ 2,026
  Public Companies(2)                                      122           627
  Unrealized Carried Interest(3)                           216           202
ONCAP(4)                                                   379           337
Direct Investments                                                          
  Private Companies(5)                                     123           153
  Public Companies(2)                                      224           186
----------------------------------------------------------------------------
                                                         3,263         3,531
----------------------------------------------------------------------------
Onex Real Estate Partners(5)(6)                            233           144
Onex Credit Partners(7)                                    360           260
----------------------------------------------------------------------------
                                                           593           404
----------------------------------------------------------------------------
Other Investments                                          115           103
Cash and Near-Cash(8)                                    1,955         1,741
Onex Corporation Debt                                        -             -
----------------------------------------------------------------------------
                                                       $ 5,926       $ 5,779
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Onex' Capital per Share (June 30, 2014 -                                    
 C$56.26; December 31, 2013 - C$54.16)(9) (10)         $ 52.72       $ 50.93
----------------------------------------------------------------------------
                                                                            
(1)  Based on the fair value of the investments in Onex Partners' financial 
     statements net of the estimated Management Investment Plan ("MIP")     
     liability on these investments of $84 million (2013 - $64 million).    
                                                                            
(2)  Based on the closing market values and net of the estimated MIP        
     liability on public companies in the Onex Partners Funds of $8 million 
     (2013 - $37 million).                                                  
                                                                            
(3)  Represents Onex' share of the unrealized carried interest on public and
     private companies in the Onex Partners Funds.                          
                                                                            
(4)  Based on the C$ fair value of the investments in ONCAP's financial     
     statements net of management incentive programs on these investments of
     $26 million (2013 - $17 million) and a US$/C$ exchange rate of 1.0670  
     (2013 - 1.0636).                                                       
                                                                            
(5)  Based on the fair value.                                               
                                                                            
(6)  Onex invested $84 million in Flushing Town Center during the second    
     quarter of 2014.                                                       
                                                                            
(7)  Based on the market values of investments in Onex Credit Partners'     
     Funds and Onex Credit Partners Collateralized Loan Obligations.        
     Excludes $348 million (2013 - $343 million) invested in a segregated   
     Onex Credit Partners' unleveraged senior secured loan strategy fund,   
     which is included with cash and near-cash items.                       
                                                                            
(8)  Includes $348 million (2013 - $343 million) invested in a segregated   
     Onex Credit Partners' unleveraged senior secured loan strategy fund.   
                                                                            
(9)  Calculated on a fully diluted basis. Fully diluted shares were         
     approximately 114.6 million at June 30, 2014 (December 31, 2013 - 115.9
     million). Fully diluted shares include all outstanding Subordinate     
     Voting Shares and outstanding Stock Options that have met the minimum  
     25% price appreciation threshold.                                      
                                                                            
(10) The change in Onex' Capital per Share during the six months ended June 
     30, 2014 is driven primarily by fair value changes of Onex'            
     investments. Share repurchases and options exercised during the period 
     will have an impact on the calculation of Onex' Capital per Share. The 
     impact on Onex' Capital per Share will be to the extent that the price 
     for share repurchases and option exercises is above or below Onex'     
     Capital per Share.                                                     
                                                                            
                                                                            
                                                                            
                                                                            
                                                                            
                                                                            
                   Public and Private Company Information                   
                                                                            
Public Companies                                                            
                             Shares                                         
                            Subject                                         
                         to Carried  Shares Held               Market Value 
                           Interest      by Onex Closing Price     of Onex' 
As at June 30, 2014      (millions)   (millions)  per Share(1)   Investment 
----------------------------------------------------------------------------
Onex Partners                                                               
  Skilled Healthcare                                                        
   Group(2)                    10.7          3.5        $ 6.29         $ 22 
  Spirit                                                                    
   AeroSystems(2)               4.5          2.4       $ 33.70           82 
  Allison                                                                   
   Transmission(2)              1.2          0.8       $ 31.10           26 
----------------------------------------------------------------------------
                                                                        130 
  Estimated Management                                                      
  Investment Plan                                                           
  Liability                                                              (8)
----------------------------------------------------------------------------
                                                                        122 
----------------------------------------------------------------------------
Direct Investments -                                                        
 Celestica(3)                     -         17.8       $ 12.56          224 
----------------------------------------------------------------------------
                                                                      $ 346 
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Significant                                                                 
 Private                                                                    
 Companies                                                                  
                Onex' and                                                   
                      its                        Cumu-             Original 
                  Limited                       lative     Onex'    Cost of 
As at June 30,  Partners'       LTM      Net   Distri-  Economic      Onex' 
 2014           Ownership EBITDA(4)     Debt   butions Ownership Investment 
----------------------------------------------------------------------------
Onex Partners                                                               
  Carestream                                                                
   Health              91%    $ 432  $ 2,137   $ 1,311     33%(3)     $ 186 
  Tropicana Las                                                             
   Vegas               82%        3       49         -        18%        70 
  ResCare              98%      140      445       130        20%        41 
  JELD-WEN         80%(5)    170(6)   820(6)         -    20%(5)     217(7) 
  SGS                                                                       
   International       94%   116(8)      579         -        24%        66 
  USI                  91%    299(8)   1,692         -        25%       170 
  BBAM(9)              50%       79 (30)(10)    79(11)        13%        61 
  KraussMaffei         96%  EUR 112  EUR 256         -        24%    92(12) 
  Emerald                                                                   
   Expositions         99%   133(8)      765         -        24%       119 
----------------------------------------------------------------------------
                                                                      1,022 
----------------------------------------------------------------------------
Direct                                                                      
 Investments -                                                              
 Sitel Worldwide  86%(13)     $ 116    $ 710       $ -   86%(13)        320 
----------------------------------------------------------------------------
                                                                    $ 1,342 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
(1)  Closing prices on June 30, 2014.                                       
                                                                            
(2)  Excludes Onex' potential participation in the carried interest and     
     includes shares related to the MIP.                                    
                                                                            
(3)  Excludes shares held in connection with the MIP.                       
                                                                            
(4)  EBITDA is a non-GAAP measure and is based on the local GAAP of the     
     individual operating companies. These adjustments may include non-cash 
     costs of stock-based compensation and retention plans, transition and  
     restructuring expenses including severance payments, the impact of     
     derivative instruments that no longer qualify for hedge accounting, the
     impacts of purchase accounting and other similar amounts.              
                                                                            
(5)  Onex' and its limited partners' investment includes convertible        
     preferred shares. The ownership percentage is presented on an as-      
     converted basis.                                                       
                                                                            
(6)  LTM EBITDA and net debt are presented for JELD-WEN Holding, inc.       
                                                                            
(7)  Net of a $27 million return of capital on the convertible promissory   
     notes prior to the conversion into additional Series A Convertible     
     Preferred Stock of JELD-WEN in April 2013.                             
                                                                            
(8)  LTM EBITDA for SGS International, USI and Emerald Expositions is       
     presented on a pro-forma basis to reflect the impact of acquired       
     businesses.                                                            
                                                                            
(9)  Ownership percentages, LTM EBITDA, net debt and cumulative             
     distributions are presented for BBAM Limited Partnership and do not    
     reflect information for Onex' investments in FLY Leasing Limited (NYSE:
     FLY) or Meridian Aviation Partners Limited that were made in           
     conjunction with the investment in BBAM. The Original Cost of Onex'    
     Investment includes $5 million invested in FLY Leasing Limited and $14 
     million invested in Meridian Aviation Partners Limited.                
                                                                            
(10) Net debt for BBAM represents unrestricted cash, reduced for accrued    
     compensation liabilities.                                              
                                                                            
(11) Onex, Onex Partners III and Onex management received distributions of  
     $37 million from BBAM.                                                 
                                                                            
(12) The investments in KraussMaffei were made in euros and converted to    
     U.S. dollars using the prevailing exchange rate on the date of the     
     investments.                                                           
                                                                            
(13) The economic ownership interests of Sitel Worldwide are presented based
     on preferred shareholdings.                                            
                                                                            
                                                                            
                                                                            
                            Onex Corporation                                
                        CONSOLIDATED BALANCE SHEETS                         
                                                                            
                                                                            
(Unaudited)                                         As at              As at
(in millions of U.S. dollars)               June 30, 2014  December 31, 2013
----------------------------------------------------------------------------
Assets                                                                      
Current assets                                                              
Cash and cash equivalents               $           3,298  $           3,191
Short-term investments                                  -                754
Accounts receivable                                 3,142              3,639
Inventories                                         2,000              3,872
Other current assets                                  737              1,478
Assets held for sale                                2,029                  -
Assets held by discontinued operations              5,076                  -
----------------------------------------------------------------------------
                                                   16,282             12,934
Property, plant and equipment                       3,478              5,105
Long-term investments                               4,466              7,564
Other non-current assets                              721              2,100
Intangible assets                                   4,576              4,695
Goodwill                                            4,443              4,469
----------------------------------------------------------------------------
                                        $          33,966  $          36,867
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Liabilities and Equity                                                      
Current liabilities                                                         
Accounts payable and accrued                                                
 liabilities                            $           3,816  $           4,342
Current portion of provisions                         312                331
Other current liabilities                             903              1,621
Current portion of long-term debt of                                        
 operating companies, without recourse                                      
 to Onex Corporation                                  472                651
Current portion of warranty reserves                                        
 and unearned premiums                                  -              1,350
Current portion of Limited Partners'                                        
 Interests                                          1,373                  -
Liabilities held by discontinued                                            
 operations                                         4,245                  -
----------------------------------------------------------------------------
                                                   11,121              8,295
Non-current portion of provisions                     342                419
Long-term debt of operating companies,                                      
 without recourse to Onex Corporation              11,902             11,319
Non-current portion of warranty                                             
 reserves and unearned premiums                         -              1,779
Other non-current liabilities                       1,461              2,526
Deferred income taxes                               1,183              1,225
Limited Partners' Interests                         5,071              6,959
----------------------------------------------------------------------------
                                                   31,080             32,522
----------------------------------------------------------------------------
Equity                                                                      
Share capital                                         342                346
Non-controlling interests                           1,780              3,191
Retained earnings and accumulated                                           
 other comprehensive earnings                         764                808
----------------------------------------------------------------------------
                                                    2,886              4,345
----------------------------------------------------------------------------
                                        $          33,966  $          36,867
----------------------------------------------------------------------------
----------------------------------------------------------------------------

These unaudited interim consolidated financial statements should be read in conjunction with the 2013 audited annual consolidated financial statements.

                              Onex Corporation                              
                    CONSOLIDATED STATEMENTS OF EARNINGS                     
                                                                            
                                                                            
                                   Three months ended      Six months ended 
                                              June 30               June 30 
(Unaudited)                                                                 
(in millions of U.S. dollars                                                
 except per share data)               2014       2013       2014       2013 
----------------------------------------------------------------------------
Revenues                         $   5,195  $   5,249  $   9,991  $  10,132 
Cost of sales (excluding                                                    
 amortization of property, plant                                            
 and equipment, intangible                                                  
 assets and deferred charges)       (3,805)    (3,945)    (7,332)    (7,630)
Operating expenses                    (916)      (861)    (1,807)    (1,742)
Interest income                         37         23         68         48 
Amortization of property, plant                                             
 and equipment                        (108)      (115)      (213)      (228)
Amortization of intangible                                                  
 assets and deferred charges          (119)      (123)      (242)      (250)
Interest expense of operating                                               
 companies                            (197)      (174)      (382)      (332)
Increase in value of investments                                            
 in joint ventures and                                                      
 associates at fair value, net          33         14        388        290 
Stock-based compensation expense       (67)       (23)      (150)      (139)
Other gains                              -        170          -        170 
Other items                           (140)      (182)      (209)      (266)
Recovery (impairment) of                                                    
 intangible assets and long-                                                
 lived assets, net                      38       (114)        37       (122)
Limited Partners' Interests                                                 
 charge                               (326)      (472)      (576)      (846)
----------------------------------------------------------------------------
Loss before income taxes and                                                
 discontinued operations              (375)      (553)      (427)      (915)
Provision for income taxes             (33)       (72)       (48)       (67)
----------------------------------------------------------------------------
Loss from continuing operations       (408)      (625)      (475)      (982)
Earnings (loss) from                                                        
 discontinued operations               447        (93)       613         (7)
----------------------------------------------------------------------------
Net Earnings (Loss) for the                                                 
 Period                          $      39  $    (718) $     138  $    (989)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Earnings (Loss) from Continuing                                             
 Operations attributable to:                                                
Equity holders of Onex                                                      
 Corporation                     $    (435) $    (624) $    (518) $    (969)
Non-controlling Interests               27         (1)        43        (13)
----------------------------------------------------------------------------
Loss from Continuing Operations                                             
 for the Period                  $    (408) $    (625) $    (475) $    (982)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net Earnings (Loss) attributable                                            
 to:                                                                        
Equity holders of Onex                                                      
 Corporation                     $     (89) $    (612) $    (129) $    (920)
Non-controlling Interests              128       (106)       267        (69)
----------------------------------------------------------------------------
Net Earnings (Loss) for the                                                 
 Period                          $      39  $    (718) $     138  $    (989)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net Earnings (Loss) per                                                     
 Subordinate Voting Share of                                                
 Onex Corporation                                                           
Basic and Diluted:                                                          
  Continuing operations          $   (3.94) $   (5.48) $   (4.68) $   (8.53)
  Discontinued operations             3.14       0.10       3.52       0.45 
----------------------------------------------------------------------------
Net Loss for the Period          $   (0.80) $   (5.38) $   (1.16) $   (8.08)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

These unaudited interim consolidated financial statements should be read in conjunction with the 2013 audited annual consolidated financial statements.

                              Onex Corporation                              
                   CONSOLIDATED STATEMENTS OF CASH FLOWS                    
                                                                            
                                                      Six months ended June 
                                                                         30 
(Unaudited)                                                                 
(in millions of U.S. dollars)                            2014          2013 
----------------------------------------------------------------------------
Operating Activities                                                        
Loss for the period from continuing operations     $     (475)   $     (982)
Adjustments to loss from continuing operations:                             
  Provision for income taxes                               48            67 
  Interest income                                         (68)          (48)
  Interest expense of operating companies                 382           332 
----------------------------------------------------------------------------
Loss before interest and provision for income                               
 taxes                                                   (113)         (631)
Cash taxes paid                                           (82)          (81)
Items not affecting cash and cash equivalents:                              
  Amortization of property, plant and equipment           213           228 
  Amortization of intangible assets and deferred                            
   charges                                                242           250 
  Increase in value of investments in joint                                 
   ventures and associates at fair value, net            (388)         (290)
  Stock-based compensation expense                         91            72 
  Other gains                                               -          (170)
  Impairment (recovery) of intangible assets and                            
   long-lived assets                                      (37)          122 
  Limited Partners' Interests charge                      576           846 
  Change in provisions                                     57            45 
  Other                                                    23            95 
----------------------------------------------------------------------------
                                                          582           486 
Changes in non-cash working capital items:                                  
  Accounts receivable                                    (214)          (82)
  Inventories                                             (77)         (118)
  Other current assets                                    (71)           75 
  Accounts payable, accrued liabilities and                                 
   other current liabilities                               12            (6)
----------------------------------------------------------------------------
Decrease in cash and cash equivalents due to                                
 changes in working capital items                        (350)         (131)
Decrease in other operating activities                    (28)          (36)
Cash flows from operating activities of                                     
 discontinued operations                                  267           170 
----------------------------------------------------------------------------
                                                          471           489 
----------------------------------------------------------------------------
Financing Activities                                                        
Issuance of long-term debt                              2,825         3,289 
Repayment of long-term debt                            (1,041)       (2,064)
Cash interest paid                                       (374)         (279)
Cash dividends paid                                        (8)           (6)
Repurchase of share capital of Onex Corporation           (53)          (50)
Repurchase of share capital of operating                                    
 companies                                                (59)          (51)
Financing provided by Limited Partners                    184           341 
Issuance of share capital by operating companies           15            35 
Proceeds from sale of interests in operating                                
 company under continuing control                         171             - 
Purchase of shares of operating company under                               
 continuing control                                       (66)            - 
Distributions paid to non-controlling interests                             
 and Limited Partners                                  (1,278)         (591)
Change in restricted cash                                   -            28 
Decrease due to other financing activities                (21)          (56)
Cash flows used in financing activities of                                  
 discontinued operations                                 (177)          (49)
----------------------------------------------------------------------------
                                                          118           547 
----------------------------------------------------------------------------
Investing Activities                                                        
Acquisitions, net of cash and cash equivalents                              
 in acquired companies of $1 (2013 - $12)                (605)         (382)
Purchase of property, plant and equipment                (194)         (292)
Proceeds from sale of investment in joint                                   
 ventures and associates at fair value                  1,418           323 
Proceeds from sales of operating investments no                             
 longer controlled                                        258           217 
Distributions received from investments in joint                            
 ventures and associates                                   27            14 
Cash interest received                                     50            29 
Net purchases of investments and securities              (803)         (703)
Increase due to other investing activities                 23            58 
Cash flows used in investing activities of                                  
 discontinued operations                                 (503)         (225)
----------------------------------------------------------------------------
                                                         (329)         (961)
----------------------------------------------------------------------------
Increase in Cash and Cash Equivalents for the                               
 Period                                                   260            75 
Increase (decrease) in cash due to changes in                               
 foreign exchange rates                                     1           (24)
Cash and cash equivalents, beginning of the                                 
 period - continuing operations                         2,622         2,058 
Cash and cash equivalents, beginning of the                                 
 period - discontinued operations                         569           598 
----------------------------------------------------------------------------
Cash and Cash Equivalents                               3,452         2,707 
Cash and cash equivalents held by discontinued                              
 operations                                               154           486 
----------------------------------------------------------------------------
Cash and Cash Equivalents Held by Continuing                                
 Operations                                        $    3,298    $    2,221 
----------------------------------------------------------------------------
----------------------------------------------------------------------------

These unaudited interim consolidated financial statements should be read in conjunction with the 2013 audited annual consolidated financial statements.

                              Onex Corporation                              
                       INFORMATION BY INDUSTRY SEGMENT                      
                  FOR THE THREE MONTHS ENDED JUNE 30, 2014                  

                                                                            
(Unaudited)                                                                 
(in millions of U.S.                                                        
 dollars)                   Electronics                 Customer            
Three months ended June   Manufacturing                     Care   Building 
 30, 2014                      Services    Healthcare   Services   Products 
----------------------------------------------------------------------------
Revenues                 $        1,472  $      1,240  $     348  $     912 
Cost of sales (excluding                                                    
 amortization of                                                            
 property, plant and                                                        
 equipment, intangible                                                      
 assets and deferred                                                        
 charges)                        (1,350)         (857)      (233)      (738)
Operating expenses                  (55)         (222)       (86)      (119)
Interest income                       -             2          -          1 
Amortization of                                                             
 property, plant and                                                        
 equipment                          (14)          (29)        (7)       (28)
Amortization of                                                             
 intangible assets and                                                      
 deferred charges                    (3)          (34)        (4)        (5)
Interest expense of                                                         
 operating companies                 (1)          (54)       (28)       (20)
Increase in value of                                                        
 investments in joint                                                       
 ventures and associates                                                    
 at fair value, net                   -             -          -          - 
Stock-based compensation                                                    
 recovery (expense)                  (6)           (3)         -          4 
Other items                           4           (16)       (13)       (16)
Recovery (impairment) of                                                    
 intangible assets and                                                      
 long-lived assets, net               -             -          -         (2)
Limited Partners'                                                           
 Interests charge                     -             -          -          - 
----------------------------------------------------------------------------
Earnings (loss) before                                                      
 income taxes and                                                           
 discontinued operations             47            27        (23)       (11)
Recovery of (provision                                                      
 for) income taxes                   (6)           (8)        (3)        (9)
----------------------------------------------------------------------------
Earnings (loss) from                                                        
 continuing operations               41            19        (26)       (20)
Earnings from                                                               
 discontinued                                                               
 operations(b)                        -             -          -          - 
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $           41  $         19  $     (26) $     (20)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net earnings (loss)                                                         
 attributable to:                                                           
Equity holders of Onex                                                      
 Corporation             $            4  $         19  $     (15) $     (18)
Non-controlling                                                             
 interests                           37             -        (11)        (2)
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $           41  $         19  $     (26) $     (20)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

                                                                            
(Unaudited)                                                                 
(in millions of U.S.                                                        
 dollars)                                                                   
Three months ended June   Insurance       Credit               Consolidated 
 30, 2014                 Brokerage   Strategies    Other(a)          Total 
----------------------------------------------------------------------------
Revenues                 $      235  $         -  $      988  $       5,195 
Cost of sales (excluding                                                    
 amortization of                                                            
 property, plant and                                                        
 equipment, intangible                                                      
 assets and deferred                                                        
 charges)                         -            -        (627)        (3,805)
Operating expenses             (153)         (16)       (265)          (916)
Interest income                   -           34           -             37 
Amortization of                                                             
 property, plant and                                                        
 equipment                       (2)           -         (28)          (108)
Amortization of                                                             
 intangible assets and                                                      
 deferred charges               (37)           -         (36)          (119)
Interest expense of                                                         
 operating companies            (29)         (15)        (50)          (197)
Increase in value of                                                        
 investments in joint                                                       
 ventures and associates                                                    
 at fair value, net               -            -          33             33 
Stock-based compensation                                                    
 recovery (expense)              (4)           -         (58)           (67)
Other items                     (26)           5         (78)          (140)
Recovery (impairment) of                                                    
 intangible assets and                                                      
 long-lived assets, net           -            -          40             38 
Limited Partners'                                                           
 Interests charge                 -            -        (326)          (326)
----------------------------------------------------------------------------
Earnings (loss) before                                                      
 income taxes and                                                           
 discontinued operations        (16)           8        (407)          (375)
Recovery of (provision                                                      
 for) income taxes                7            -         (14)           (33)
----------------------------------------------------------------------------
Earnings (loss) from                                                        
 continuing operations           (9)           8        (421)          (408)
Earnings from                                                               
 discontinued                                                               
 operations(b)                    -            -         447            447 
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $       (9) $         8  $       26  $          39 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net earnings (loss)                                                         
 attributable to:                                                           
Equity holders of Onex                                                      
 Corporation             $       (9) $         8  $      (78) $         (89)
Non-controlling                                                             
 interests                        -            -         104            128 
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $       (9) $         8  $       26  $          39 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
(a)  Includes Tropicana Las Vegas, SGS International, KraussMaffei, Emerald 
     Expositions, ONCAP II, ONCAP III, Flushing Town Center, Meridian       
     Aviation and the parent company. Investments in joint ventures and     
     associates recorded at fair value include Allison Transmission (up to  
     June 2014), BBAM, Tomkins (up to April 2014) and certain Onex Real     
     Estate investments.                                                    
                                                                            
(b)  Represents the after-tax results of The Warranty Group and Spirit      
     AeroSystems.                                                           
                                                                            
                                                                            
                                                                            
                              Onex Corporation                              
                       INFORMATION BY INDUSTRY SEGMENT                      
                  FOR THE THREE MONTHS ENDED JUNE 30, 2013                  
                                                                            
(Unaudited)                                                                 
(in millions of U.S.                                                        
 dollars)                   Electronics                 Customer            
Three months ended June   Manufacturing                     Care   Building 
 30, 2013                      Services    Healthcare   Services   Products 
----------------------------------------------------------------------------
Revenues                 $        1,496  $      1,222  $     349  $     907 
Cost of sales (excluding                                                    
 amortization of                                                            
 property, plant and                                                        
 equipment, intangible                                                      
 assets and deferred                                                        
 charges)                        (1,381)         (855)      (231)      (745)
Operating expenses                  (57)         (207)       (95)      (114)
Interest income                       -             -          -          - 
Amortization of                                                             
 property, plant and                                                        
 equipment                          (16)          (31)        (8)       (28)
Amortization of                                                             
 intangible assets and                                                      
 deferred charges                    (3)          (36)        (5)        (5)
Interest expense of                                                         
 operating companies                 (1)          (60)       (22)       (18)
Increase in value of                                                        
 investments in joint                                                       
 ventures and associates                                                    
 at fair value, net                   -             -          -          - 
Stock-based compensation                                                    
 recovery (expense)                  (6)           (2)         -          1 
Other gains                           -             -          -          - 
Other items                           1           (97)        (1)        (9)
Impairment of intangible                                                    
 assets and long-lived                                                      
 assets                              (1)            -          -         (2)
Limited Partners'                                                           
 Interests charge                     -             -          -          - 
----------------------------------------------------------------------------
Earnings (loss) before                                                      
 income taxes and                                                           
 discontinued operations             32           (66)       (13)       (13)
Recovery of (provision                                                      
 for) income taxes                   (3)          (12)        (3)        (4)
----------------------------------------------------------------------------
Earnings (loss) from                                                        
 continuing operations               29           (78)       (16)       (17)
Loss from discontinued                                                      
 operations(b)                        -             -          -          - 
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $           29  $        (78) $     (16) $     (17)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                       `                    
Net earnings (loss)                                                         
 attributable to:                                                           
Equity holders of Onex                                                      
 Corporation             $            3  $        (77) $     (11) $     (15)
Non-controlling                                                             
 interests                           26            (1)        (5)        (2)
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $           29  $        (78) $     (16) $     (17)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

                                                                            
(Unaudited)                                                                 
(in millions of U.S.                                                        
 dollars)                                                                   
Three months ended June   Insurance       Credit               Consolidated 
 30, 2013                 Brokerage   Strategies    Other(a)          Total 
----------------------------------------------------------------------------
Revenues                 $      204  $         -  $    1,071  $       5,249 
Cost of sales (excluding                                                    
 amortization of                                                            
 property, plant and                                                        
 equipment, intangible                                                      
 assets and deferred                                                        
 charges)                         -            -        (733)        (3,945)
Operating expenses             (134)          (1)       (253)          (861)
Interest income                   -           19           4             23 
Amortization of                                                             
 property, plant and                                                        
 equipment                       (1)           -         (31)          (115)
Amortization of                                                             
 intangible assets and                                                      
 deferred charges               (34)           -         (40)          (123)
Interest expense of                                                         
 operating companies            (28)         (12)        (33)          (174)
Increase in value of                                                        
 investments in joint                                                       
 ventures and associates                                                    
 at fair value, net               -            -          14             14 
Stock-based compensation                                                    
 recovery (expense)              (5)           -         (11)           (23)
Other gains                       -            -         170            170 
Other items                      (5)           4         (75)          (182)
Impairment of intangible                                                    
 assets and long-lived                                                      
 assets                           -            -        (111)          (114)
Limited Partners'                                                           
 Interests charge                 -            -        (472)          (472)
----------------------------------------------------------------------------
Earnings (loss) before                                                      
 income taxes and                                                           
 discontinued operations         (3)          10        (500)          (553)
Recovery of (provision                                                      
 for) income taxes                2            -         (52)           (72)
----------------------------------------------------------------------------
Earnings (loss) from                                                        
 continuing operations           (1)          10        (552)          (625)
Loss from discontinued                                                      
 operations(b)                    -            -         (93)           (93)
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $       (1) $        10  $     (645) $        (718)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net earnings (loss)                                                         
 attributable to:                                                           
Equity holders of Onex                                                      
 Corporation             $       (1) $        10  $     (521)          (612)
Non-controlling                                                             
 interests                        -            -        (124)          (106)
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $       (1) $        10  $     (645) $        (718)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
(a)  Includes Tropicana Las Vegas, SGS International, KraussMaffei, Emerald 
     Expositions (acquired in June 2013), ONCAP II (BSN SPORTS up to June   
     2013), ONCAP III, Flushing Town Center, Meridian Aviation and the      
     parent company. Investments in joint ventures and associates recorded  
     at fair value include Allison Transmission (up to June 2014), BBAM,    
     Tomkins (up to April 2014) and certain Onex Real Estate investments.   
                                                                            
(b)  Represents the after-tax results of The Warranty Group, TMS            
     International and Spirit AeroSystems.                                  
                                                                            
                                                                            
                                                                            
                              Onex Corporation                              
                       INFORMATION BY INDUSTRY SEGMENT                      
                   FOR THE SIX MONTHS ENDED JUNE 30, 2014                   
                                                                            
(Unaudited)                                                                 
(in millions of U.S.                                                        
 dollars)                   Electronics                 Customer            
Six months ended June     Manufacturing                     Care   Building 
 30, 2014                      Services    Healthcare   Services   Products 
----------------------------------------------------------------------------
Revenues                 $        2,784  $      2,387  $     699  $   1,677 
Cost of sales (excluding                                                    
 amortization of                                                            
 property, plant and                                                        
 equipment, intangible                                                      
assets and deferred                                                         
 charges)                        (2,555)       (1,664)      (467)    (1,384)
Operating expenses                 (105)         (451)      (177)      (235)
Interest income                       -             3          -          1 
Amortization of                                                             
 property, plant and                                                        
 equipment                          (28)          (58)       (14)       (56)
Amortization of                                                             
 intangible assets and                                                      
 deferred charges                    (6)          (71)        (9)        (9)
Interest expense of                                                         
 operating companies                 (2)         (109)       (53)       (39)
Increase in value of                                                        
 investments in joint                                                       
 ventures and associates                                                    
 at fair value, net                   -             -          -          - 
Stock-based compensation                                                    
 expense                            (17)           (5)         -         (8)
Other items                           6           (13)       (15)       (21)
Recovery (impairment) of                                                    
 intangible assets and                                                      
 long-lived assets, net               -             -          -         (2)
Limited Partners'                                                           
 Interests charge                     -             -          -          - 
----------------------------------------------------------------------------
Earnings (loss) before                                                      
 income taxes and                                                           
 discontinued operations             77            19        (36)       (76)
Recovery of (provision                                                      
 for) income taxes                    1           (17)        (7)        (8)
----------------------------------------------------------------------------
Earnings (loss) from                                                        
 continuing operations               78             2        (43)       (84)
Earnings from                                                               
 discontinued                                                               
 operations(b)                        -             -          -          - 
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $           78  $          2  $     (43) $     (84)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net earnings (loss)                                                         
 attributable to:                                                           
Equity holders of Onex                                                      
 Corporation             $            8  $          3  $     (27) $     (72)
Non-controlling                                                             
 interests                           70            (1)       (16)       (12)
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $           78  $          2  $     (43) $     (84)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Total assets(c)          $        2,673  $      3,577  $     648  $   2,546 
----------------------------------------------------------------------------
Long-term debt(c)(d)     $            -  $      3,010  $     724  $     813 
----------------------------------------------------------------------------
----------------------------------------------------------------------------

                                                                            
(Unaudited)                                                                 
(in millions of U.S.                                                        
 dollars)                                                                   
Six months ended June     Insurance       Credit               Consolidated 
 30, 2014                 Brokerage   Strategies    Other(a)          Total 
----------------------------------------------------------------------------
Revenues                 $      438  $         -  $    2,006  $       9,991 
Cost of sales (excluding                                                    
 amortization of                                                            
 property, plant and                                                        
 equipment, intangible                                                      
assets and deferred                                                         
 charges)                         -            -      (1,262)        (7,332)
Operating expenses             (294)         (23)       (522)        (1,807)
Interest income                   -           62           2             68 
Amortization of                                                             
 property, plant and                                                        
 equipment                       (3)           -         (54)          (213)
Amortization of                                                             
 intangible assets and                                                      
 deferred charges               (72)           -         (75)          (242)
Interest expense of                                                         
 operating companies            (56)         (24)        (99)          (382)
Increase in value of                                                        
 investments in joint                                                       
 ventures and associates                                                    
 at fair value, net               -            -         388            388 
Stock-based compensation                                                    
 expense                         (7)           -        (113)          (150)
Other items                     (37)          (1)       (128)          (209)
Recovery (impairment) of                                                    
 intangible assets and                                                      
 long-lived assets, net           -            -          39             37 
Limited Partners'                                                           
 Interests charge                 -            -        (576)          (576)
----------------------------------------------------------------------------
Earnings (loss) before                                                      
 income taxes and                                                           
 discontinued operations        (31)          14        (394)          (427)
Recovery of (provision                                                      
 for) income taxes               12            -         (29)           (48)
----------------------------------------------------------------------------
Earnings (loss) from                                                        
 continuing operations          (19)          14        (423)          (475)
Earnings from                                                               
 discontinued                                                               
 operations(b)                    -            -         613            613 
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $      (19) $        14  $      190  $         138 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                  `                                         
Net earnings (loss)                                                         
 attributable to:                                                           
Equity holders of Onex                                                      
 Corporation             $      (18) $        14  $      (37) $        (129)
Non-controlling                                                             
 interests                       (1)           -         227            267 
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $      (19) $        14  $      190  $         138 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Total assets(c)          $    3,265  $     4,377  $   16,880  $      33,966 
----------------------------------------------------------------------------
Long-term debt(c)(d)     $    1,725  $     3,077  $    3,095  $      12,374 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
(a)  Includes Tropicana Las Vegas, SGS International, KraussMaffei, Emerald 
     Expositions, ONCAP II, ONCAP III, Flushing Town Center, Meridian       
     Aviation and the parent company. Investments in joint ventures and     
     associates recorded at fair value include Allison Transmission (up to  
     June 2014), BBAM, Tomkins (up to April 2014) and certain Onex Real     
     Estate investments.                                                    
                                                                            
(b)  Represents the after-tax results of The Warranty Group and Spirit      
     AeroSystems.                                                           
                                                                            
(c)  Total assets and long-term debt in the other segment include           
     discontinued operations.                                               
                                                                            
(d)  Long-term debt includes current portion, excludes finance leases and is
     net of financing charges.                                              
                                                                            
                                                                            
                                                                            
                              Onex Corporation                              
                       INFORMATION BY INDUSTRY SEGMENT                      
                   FOR THE SIX MONTHS ENDED JUNE 30, 2013                   
                                                                            
(Unaudited)                                                                 
(in millions of U.S.                                                        
 dollars)                   Electronics                 Customer            
Six months ended June     Manufacturing                     Care   Building 
 30, 2013                      Services   Healthcare    Services   Products 
----------------------------------------------------------------------------
Revenues                 $        2,868  $     2,377   $     714  $   1,677 
Cost of sales (excluding                                                    
 amortization of                                                            
 property, plant and                                                        
 equipment, intangible                                                      
 assets and deferred                                                        
 charges)                        (2,649)      (1,672)       (467)    (1,394)
Operating expenses                 (109)        (420)       (187)      (234)
Interest income                       -            1           -          1 
Amortization of                                                             
 property, plant and                                                        
 equipment                          (31)         (62)        (15)       (54)
Amortization of                                                             
 intangible assets and                                                      
 deferred charges                    (6)         (75)        (10)        (9)
Interest expense of                                                         
 operating companies                 (2)        (103)        (47)       (37)
Increase in value of                                                        
 investments in joint                                                       
 ventures and associates                                                    
 at fair value, net                   -            -           -          - 
Stock-based compensation                                                    
 expense                            (16)          (4)          -         (6)
Other gains                           -            -           -          - 
Other items                          (7)        (130)        (11)        10 
Impairment of intangible                                                    
 assets and long-lived                                                      
 assets                              (1)           -           -         (2)
Limited Partners'                                                           
 Interests charge                     -            -           -          - 
----------------------------------------------------------------------------
Earnings (loss) before                                                      
 income taxes and                                                           
 discontinued operations             47          (88)        (23)       (48)
Recovery of (provision                                                      
 for) income taxes                   (8)         (14)         (5)        (2)
----------------------------------------------------------------------------
Earnings (loss) from                                                        
 continuing operations               39         (102)        (28)       (50)
Loss from discontinued                                                      
 operations(b)                        -            -           -          - 
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $           39  $      (102)  $     (28) $     (50)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net earnings (loss)                                                         
 attributable to:                                                           
Equity holders of Onex                                                      
 Corporation             $            4  $      (101)  $     (20) $     (39)
Non-controlling                                                             
 interests                           35           (1)         (8)       (11)
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $           39  $      (102)  $     (28) $     (50)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
(Unaudited)                                                                 
(in millions of U.S.        Electronics                 Customer            
dollars)                  Manufacturing                     Care   Building 
As at December 31, 2013        Services   Healthcare    Services   Products 
----------------------------------------------------------------------------
Total assets(c)          $        2,639  $     3,707   $     613  $   2,483 
----------------------------------------------------------------------------
Long-term debt(c)(d)     $            -  $     3,009   $     740  $     661 
----------------------------------------------------------------------------
----------------------------------------------------------------------------

                                                                            
(Unaudited)                                                                 
(in millions of U.S.                                                        
 dollars)                                                                   
Six months ended June     Insurance       Credit               Consolidated 
 30, 2013                 Brokerage   Strategies    Other(a)          Total 
----------------------------------------------------------------------------
Revenues                 $      384  $         -  $    2,112  $      10,132 
Cost of sales (excluding                                                    
 amortization of                                                            
 property, plant and                                                        
 equipment, intangible                                                      
 assets and deferred                                                        
 charges)                         -            -      (1,448)        (7,630)
Operating expenses             (263)         (10)       (519)        (1,742)
Interest income                   -           40           6             48 
Amortization of                                                             
 property, plant and                                                        
 equipment                       (3)           -         (63)          (228)
Amortization of                                                             
 intangible assets and                                                      
 deferred charges               (69)           -         (81)          (250)
Interest expense of                                                         
 operating companies            (59)         (14)        (70)          (332)
Increase in value of                                                        
 investments in joint                                                       
 ventures and associates                                                    
 at fair value, net               -            -         290            290 
Stock-based compensation                                                    
 expense                         (7)           -        (106)          (139)
Other gains                       -            -         170            170 
Other items                     (17)           6        (117)          (266)
Impairment of intangible                                                    
 assets and long-lived                                                      
 assets                           -            -        (119)          (122)
Limited Partners'                                                           
 Interests charge                 -            -        (846)          (846)
----------------------------------------------------------------------------
Earnings (loss) before                                                      
 income taxes and                                                           
 discontinued operations        (34)          22        (791)          (915)
Recovery of (provision                                                      
 for) income taxes               13            -         (51)           (67)
----------------------------------------------------------------------------
Earnings (loss) from                                                        
 continuing operations          (21)          22        (842)          (982)
Loss from discontinued                                                      
 operations(b)                    -            -          (7)            (7)
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $      (21) $        22  $     (849) $        (989)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net earnings (loss)                                                         
 attributable to:                                                           
Equity holders of Onex                                                      
 Corporation             $      (19) $        22  $     (767) $        (920)
Non-controlling                                                             
 interests                       (2)           -         (82)           (69)
----------------------------------------------------------------------------
Net earnings (loss) for                                                     
 the period              $      (21) $        22  $     (849) $        (989)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
(Unaudited)                                                                 
(in millions of U.S.                                                        
dollars)                  Insurance       Credit               Consolidated 
As at December 31, 2013   Brokerage   Strategies    Other(a)          Total 
----------------------------------------------------------------------------
Total assets(c)          $    3,099  $     2,499  $   21,827  $      36,867 
----------------------------------------------------------------------------
Long-term debt(c)(d)     $    1,605  $     1,723  $    4,232  $      11,970 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
(a)  Includes Tropicana Las Vegas, SGS International, KraussMaffei, Emerald 
     Expositions (acquired in June 2013), ONCAP II (BSN SPORTS up to June   
     2013), ONCAP III, Flushing Town Center, Meridian Aviation and the      
     parent company. Investments in joint ventures and associates recorded  
     at fair value include Allison Transmission (up to June 2014), BBAM, RSI
     (up to February 2013), Tomkins (up to April 2014) and certain Onex Real
     Estate investments.                                                    
                                                                            
(b)  Represents the after-tax results of The Warranty Group, TMS            
     International and Spirit AeroSystems.                                  
                                                                            
(c)  Total assets and long-term debt in the other segment include           
     discontinued operations.                                               
                                                                            
(d)  Long-term debt includes current portion, excludes finance leases and is
     net of financing charges.                                              

Contacts:
Emma Thompson
Head of the Funds Group
416.362.7711

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