<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0000944388-26-000007</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0000944388</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>common shares</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>06/30/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001173382</issuerCik>
        <issuerName>CAE INC</issuerName>
        <issuerCusips>
          <issuerCusipNumber>124765108</issuerCusipNumber>
        </issuerCusips>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>8585 COTE DE LIESSE</com:street1>
          <com:city>ST-LAURENT</com:city>
          <com:stateOrCountry>A8</com:stateOrCountry>
          <com:zipCode>H4T 1G6</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>1832 Asset Management L.P.</reportingPersonName>
      <citizenshipOrOrganization>A6</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>20176009.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>20176009.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>20176009.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>6.3</classPercent>
      <typeOfReportingPerson>FI</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>MD Financial Management Inc.</reportingPersonName>
      <citizenshipOrOrganization>A6</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>236139.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>236139.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>236139.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>0.1</classPercent>
      <typeOfReportingPerson>FI</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>SCOTIA CAPITAL INC.</reportingPersonName>
      <citizenshipOrOrganization>A6</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>256302.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>256302.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>256302.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>0.1</classPercent>
      <typeOfReportingPerson>FI</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>CAE INC</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>8585 COTE DE LIESSE, ST-LAURENT, QUEBEC, CANADA, H4T 1G6.</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>1832 Asset Management L.P.
MD Financial Management Inc.
Scotia McLeod, a division of Scotia Capital Inc.

</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>Scotiabank North, 40 Temperance Street, 16th Floor, Toronto, Ontario, M5H 0B4 Canada
1870 Alta Vista Drive, Ottawa, Ontario, K1G 6R7, Canada
40 King St. West, Scotia Plaza, 52nd Floor, Toronto, Ontario, M5W 2X6, Canada</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Canadian
Canadian
Canadian</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>FI</typeOfPersonFiling>
        <otherTypeOfPersonFiling>If filing in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: investment adviser and broker dealer
</otherTypeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>20668450</amountBeneficiallyOwned>
        <classPercent>6.4295</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>20668450</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>20668450</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ? 240.14a-11.

By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Investment Fund Manager and Portfolio Manager is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>1832 Asset Management L.P.</reportingPersonName>
      <signatureDetails>
        <signature>Kevin Brown</signature>
        <title>Vice President, Asset Management Compliance, Bank of Nova Scotia</title>
        <date>08/12/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>MD Financial Management Inc.</reportingPersonName>
      <signatureDetails>
        <signature>Kevin Brown</signature>
        <title>Vice President, Asset Management Compliance, Bank of Nova Scotia</title>
        <date>08/12/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>SCOTIA CAPITAL INC.</reportingPersonName>
      <signatureDetails>
        <signature>Kevin Brown</signature>
        <title>Vice President, Asset Management Compliance, Bank of Nova Scotia</title>
        <date>08/12/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureComments>Filing Joint Agreement and POA 20241028.docx</signatureComments>
  </formData>

</edgarSubmission>
