Q3 2023 revenue of $615 million, an increase of $52 million, or 9%, over Q3 2022.  Q3 2023 Adjusted EBITDA* of $39 million, representing an Adjusted EBITDA* margin of 6%. Q3 2023 net income of $8 million or $0.35 per share compared with $11 million or $0.45 per share for the third quarter of 2022.

LASALLE, QC, Nov. 9, 2023 /CNW/ - GDI Integrated Facility Services Inc. ("GDI" or the "Company") (TSX: GDI) is pleased to announce its financial results for the third quarter ended September 30, 2023.

For the third quarter of 2023:

Revenue reached $615 million, an increase of $52 million, or 9%, over the third quarter of 2022, comprised of 7% organic growth, 1% growth from acquisitions and 1% growth from the appreciation of the U.S. dollar relative to the Canadian dollar. Adjusted EBITDA* amounted to $39 million, representing an Adjusted EBITDA* margin of 6%. Net income was $8 million or $0.35 per share compared to $11 million or $0.45 per share in Q3 2022. The decrease of net income in the third quarter of 2023 compared to 2022 is mainly attributable to lower operating income of $3 million and higher net finance expense of $2 million, partially offset by lower income tax expense of $2 million.

For the third quarters of 2023 and 2022, the business segments performed as follows:

(in millions of

Canadian dollars) Business Services
Canada (1) Business Services
USA (1) Technical Services Corporate and 
Other (2) Consolidated 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 Revenue 146 142 185 174 269 230 15 17 615 563 Organic Growth (Decline)  3 % 7 % 0 % (2 %) 15 % 12 % 0 % 18 % 7 % 7 % Adjusted EBITDA* (3) 14 17 14 12 16 15 (5) (3) 39 41 Adjusted EBITDA Margin* 10 % 12 % 8 % 7 % 6 % 7 % N/A N/A 6 % 7 %

(1) "Business Services Canada" formerly "Janitorial Canada" and "Business Services USA" formerly "Janitorial USA". (2) Comparative results have been recast to reflect a change in our reporting segments, as former Complementary Services and Corporate and eliminations segments are now grouped under Corporate and Other.  (3) Adjusted EBITDA definition now exclude the strategic information technology projects configuration and customization costs. 2022 results were recast to align with the revised definition.

___________________________ * The terms "Adjusted EBITDA" and "Adjusted EBITDA Margin" do not have standardized definitions prescribed by International Financial Reporting Standards and therefore, may not be comparable to similar measures presented by other companies. "Adjusted EBITDA" is defined as operating income before depreciation and amortization, transaction, reorganization and other costs, share-based compensation and strategic information technology projects configuration and customization costs. The Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by revenues. For more details and for a reconciliation of that measure to the most directly comparable IFRS measure, consult the "Operating and Financial Results" section of the Company's Management Discussion & Analysis (MD&A).

For the nine-month period ended September 30, 2023:



Revenue reached $1.8 billion, an increase of $231 million, or 15%, over the corresponding period of 2022, comprised of 11% organic growth, 2% growth from acquisitions and 2% growth from the appreciation of the U.S. dollar relative to the Canadian dollar. Adjusted EBITDA* amounted to $106 million, a decrease of $8 million, or 7%, over the corresponding period of 2022. Net income was $13 million or $0.55 per share compared to $27 million or $1.16 per share over the corresponding period of 2022. The decrease of net income in 2023 over the corresponding period of 2022 is mainly attributable to lower operating income of $15 million and higher net finance expense of $6 million, mostly offset by lower income tax expense of $7 million.

For the first three quarters of 2023 and 2022, the business segments performed as follows:

(in millions of

Canadian dollars) Business Services 
Canada (1) Business Services 
USA (1) Technical Services Corporate and
Other (2) Consolidated 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 Revenue 432 428 541 502 785 602 57 52 1,815 1,584 Organic Growth (Decline)  1 % 9 % (1 %) 7 % 28 % 6 % 8 % 3 % 11 % 7 % Adjusted EBITDA* (3) 41 55 39 37 39 30 (13) (8) 106 114 Adjusted EBITDA Margin* 10 % 13 % 7 % 7 % 5 % 5 % N/A N/A 6 % 7 %

(1) "Business Services Canada" formerly "Janitorial Canada" and "Business Services USA" formerly "Janitorial USA". (2) Comparative results have been recast to reflect a change in our reporting segments, as former Complementary Services and Corporate and eliminations segments are now grouped under Corporate and Other.  (3) Adjusted EBITDA definition now exclude the strategic information technology projects configuration and customization costs. 2022 results were recast to align with the revised definition.

GDI's Business Services Canada segment delivered a solid third quarter, recording $146 million in revenue while generating $14 million in Adjusted EBITDA*, representing an Adjusted EBITDA margin* of 10%. GDI's Business Services USA segment also performed well in Q3 2023, recording revenue of $185 million, and Adjusted EBITDA* of $14 million, representing an Adjusted EBITDA margin* of 8%. Both Business Services segments experienced flat to slightly positive organic revenue growth that is attributable to some customers now operating at pre-COVID-19 levels.

The Technical Services segment had another strong quarter, recording revenue of $269 million or growth of 17% over Q3 2022, including organic growth of 15%. The segment recorded Adjusted EBITDA*of $16 million compared to $15 million in Q3 2022, representing an Adjusted EBITDA margin* of 6%.

Finally, GDI's Corporate and Other segment recorded revenue of $15 million compared to revenue of $17 million in Q3 2022. The Corporate and Other segment is composed of GDI's integrated facility services business unit ("GDI IFS"), GDI's janitorial products manufacturing and distribution business as well as GDI's corporate costs and elimination of intercompany transactions.

"I am very pleased with GDI's overall performance in Q3 F2023," stated Claude Bigras, President & CEO of GDI. "On a consolidated basis, we achieved revenue growth of 9% which included organic growth of 7%. While we generated an expected reduction in Adjusted EBITDA margin* compared to 2022 due to a reduction in higher margin COVID-related services in our Business Services Canada segment, we are very encouraged by the stabilization of Adjusted EBITDA margin in the segment which stood at 10% in Q3 FY23. Our Business Services USA segment had a strong third quarter, demonstrating improved profitability year-over-year with a 1% increase in Adjusted EBITDA* margin compared to 2022. During the quarter the business successfully renegotiated a client contract to remove a large amount of no margin pass-through revenue that was recorded in the prior year which had the effect of negatively impacting organic growth in the quarter. Our Technical Services segment had a good quarter with organic growth of 15% and an Adjusted EBITDA margin* of 6%. Ainsworth continues to perform well across all its geographical areas and ended Q3 with a backlog near record levels. Our janitorial products manufacturing and distribution business is recovering from COVID-induced challenges, continuing to show consistent improvements in revenue and margin, and our GDI IFS business unit is actively pursuing new client opportunities across Canada and the USA. Additionally, I am pleased to welcome the employees of Atalian USA that joined the GDI family on October 31, 2023. The acquisition adds over 2,500 team members to our Business Services USA business and enhances our presence in the US market, and notably expands our Building Services capabilities in the New York City market where our Ainsworth business is already well established. The Atalian integration is underway and is expected to be completed by early 2024, with margin optimization efforts expected to be realized through the end of 2024.

"While I am very pleased with GDI's performance in Q3, earlier this year we had identified areas where we can improve and have been actively addressing them. The significant organic growth generated by Ainsworth in 2023 required a meaningful investment in working capital in order to support that growth. We have implemented strategies to optimize working capital requirements, which have already led to better work in progress management and improved efficiencies in billing, and we expect to realize incrementally positive effects on free cash flow in the upcoming quarters. We stabilized our debt level in the third quarter despite a 15% organic growth rate at Ainsworth. Our leverage ratios remain within our comfort zone and we increased the availability of credit by $100 million with our existing bank syndicate in Q3, allowing us greater flexibility to pursue strategic growth opportunities. With a healthy balance sheet and a positive outlook for organic and acquisition growth across all business segments, I am looking forward to GDI's performance in the quarters to come," concluded Mr. Bigras.

___________________________ * The terms "Adjusted EBITDA" and "Adjusted EBITDA Margin" do not have standardized definitions prescribed by International Financial Reporting Standards and therefore, may not be comparable to similar measures presented by other companies. "Adjusted EBITDA" is defined as operating income before depreciation and amortization, transaction, reorganization and other costs, share-based compensation and strategic information technology projects configuration and customization costs. The Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by revenues. For more details and for a reconciliation of that measure to the most directly comparable IFRS measure, consult the "Operating and Financial Results" section of the Company's Management Discussion & Analysis (MD&A).

ABOUT GDI

GDI is a leading integrated commercial facility services provider which offers a range of services in Canada and the United States to owners and managers of a variety of facility types including office buildings, educational facilities, distribution centers, industrial facilities, healthcare establishments, stadiums and event venues, hotels, shopping centres, airports and other transportation facilities. GDI's commercial facility services capabilities include commercial janitorial and building maintenance, energy advisory and system optimization, the installation, maintenance and repair of HVAC-R, mechanical, electrical and building automation systems, as well as other complementary services such as janitorial products manufacturing and distribution. GDI's subordinate voting shares are listed on the Toronto Stock Exchange (TSX: GDI). Additional information on GDI can be found on its website at www.gdi.com.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward looking information may relate to GDI's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee"; "ensure" or other similar expressions concerning matters that are not historical facts. In particular, statements regarding GDI's future operating results and economic performance, and its objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which GDI believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to the Company, they may prove to be incorrect. It is impossible for GDI to predict with certainty the impact that the current economic uncertainties may have on future results. Forward-looking information is also subject to certain factors, including risks and uncertainties (described in the "Risk Factors" section) that could cause actual results to differ materially from what GDI currently expects. Namely, these factors include risks pertaining to unsuccessful implementation of the business strategy, inherent operating risks of acquisition activity, failure to integrate, decline in commercial real estate occupancy levels, increase in costs which cannot be passed on to customers, labour shortages, disruption in information technology systems and execution issues with Strategic IT projects, increases in interest rates, deterioration in general economic conditions, prolonged armed conflict in Ukraine, COVID-19 and related pandemic, increase in competition, influence of the principal shareholders, loss of key or long-term customers, public procurement laws and regulations, legal proceedings, reputational damage, labour disputes, environmental, social and governance (ESG) considerations, goodwill and long-lived assets impairment charges, tax matters, dependence on key employees, participation in multi-employer pension plans, legislation or other governmental action, exchange rate fluctuations, disputes with franchisees, cybersecurity and data protection, data confidentiality, and public perception of our environmental footprint, many of which are beyond the Company's control. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While management may elect to, the Company is under no obligation and does not undertake to update or alter this information at any particular time, except as may be required by law.

Analyst Conference Call: November 10, 2023 at 9:00 A.M. (ET) Kindly note that Investors and Media representatives may attend as listeners only. Please use the following dial-in numbers to have access to the conference call by dialing 10 minutes before the beginning of the conference: North America Toll-Free: 1-888-664-6392 Local: 416-764-8659 (Toronto) or 514-225-6995 (Montreal) Confirmation Code: 38526691 A rebroadcast of the conference call will be available until November 17, 2023 by dialing: North America Toll-Free: 1-888-390-0541 Local: 416-764-8677 (Toronto) Confirmation Code: 526691 #

September 30, 2023 unaudited condensed consolidated interim financial statements and accompanied Management & Discussion Analysis are filed on www.sedarplus.ca.

GDI INTEGRATED FACILITY SERVICES INC. Condensed Consolidated Interim Statements of Financial Position
(Unaudited) (In millions of Canadian dollars)

As at September 30, 
2023 As at December 31, 
2022 Assets Current assets Cash 7 7 Trade and other receivables and contract assets 581 524 Current tax assets 15 7 Inventories 44 45 Other financial assets 12 11 Prepaid expenses and other 13 9 Derivatives 2 3 Total current assets 674 606 Non-current assets Property, plant and equipment 122 122 Intangible assets 127 139 Goodwill 346 344 Derivatives − 1 Other assets 10 8 Total non-current assets 605 614 Total assets 1,279 1,220 Liabilities and Shareholders' Equity Current liabilities Bank indebtedness 1 10 Trade and other payables 286 286 Provisions 24 26 Contract liabilities  34 30 Current tax liabilities 3 2 Current portion of long-term debt 40 43 Total current liabilities 388 397 Non-current liabilities Long-term debt 404 345 Long-term payables 4 5 Deferred tax liabilities 33 34 Total non-current liabilities 441 384 Shareholders' equity Share capital 380 379 Retained earnings 62 49 Contributed surplus 2 4 Accumulated other comprehensive income 6 7 Total shareholders' equity 450 439 Total liabilities and shareholders' equity 1,279 1,220

GDI INTEGRATED FACILITY SERVICES INC.
Condensed Consolidated Interim Statements of Comprehensive Income
(Unaudited) (In millions of Canadian dollars, except for earnings per share)

Three-month periods

ended September 30, Nine-month periods

ended September 30, 2023 2022 2023 2022 Revenues 615 563 1,815 1,584 Cost of services 498 453 1,478 1,263 Selling and administrative expenses 80 71 238 212 Amortization of intangible assets 6 6 17 19 Depreciation of property, plant and equipment  13 12 38 33 Strategic information technology projects configuration and customization costs 2 1 4 2 Transaction, reorganization and other costs  − 1 2 2 Operating income 16 19 38 53 Net finance expense 5 3 19 13 Income before income taxes 11 16 19 40 Income tax expense 3 5 6 13 Net income 8 11 13 27 Other comprehensive income (loss) Gains (losses) that are or may be reclassified to earnings: Foreign currency translation differences for foreign operations 6 18 (1) 23 Hedge of net investments in foreign operations, net of tax of nil (6) (15) 1 (19) Cash flow hedges, effective portion of changes in fair value, net of tax of nil and $1 (nil and ($1) in 2022) − 1 (1) 3 − 4 (1) 7 Total comprehensive income 8 15 12 34 Earnings per share: Basic 0.35 0.45 0.55 1.16 Diluted 0.35 0.44 0.54 1.13

GDI INTEGRATED FACILITY SERVICES INC. Condensed Consolidated Interim Statements of Changes in Equity
Nine-month periods ended September 30, 2023 and 2022
(Unaudited) (In millions of Canadian dollars, except for number of shares)

Share capital Retained 
earnings  Contributed 
surplus Accumulated 
other 
comprehensive 
income Total Number

(in thousands 
of shares) Amount Balance, January 1, 2022 23,121 371 13 6 1 391 Net income – – 27 – – 27 Other comprehensive income – – – – 7 7 Total comprehensive income for the period – – 27 – 7 34 Transactions with owners of the Company: Stock options exercised 185 5 – (1) – 4 Share-based compensation – – – 1 – 1 Shares repurchased for cancellation  (12) (1) – – – (1) Balance, September 30, 2022 23,294 375 40 6 8 429 Balance, January 1, 2023 23,414 379 49 4 7 439 Net income – – 13 – – 13 Other comprehensive loss – – – – (1) (1) Total comprehensive income for the period – – 13 – (1) 12 Transactions with owners of the Company: Stock options exercised 94 2 – – – 2 Share-based compensation – – – 1 – 1 Shares repurchased for cancellation  (98) (1) – (3) – (4) Balance, September 30, 2023 23,410 380 62 2 6 450

GDI INTEGRATED FACILITY SERVICES INC. Condensed Consolidated Interim Statements of Cash Flows
(Unaudited) (In millions of Canadian dollars)

Nine-month periods ended September 30, 2023 2022 Cash flows from (used in) operating activities Net income 13 27 Adjustments for: Depreciation and amortization 55 52 Equity portion of share-based compensation  1 1 Net finance expense 19 13 Income tax expense 6 13 Income taxes paid (13) (16) Net changes in non-cash operating assets and liabilities  (60) (75) Net cash used in operating activities 21 15 Cash flows from (used in) financing activities Proceeds from issuance of long-term debt  319 169 Repayment of long-term debt (269) (108) Payment of lease liabilities (24) (20) Interest paid (17) (7) Other (2) 2 Net cash from financing activities 7 36 Cash flows (used in) from investing activities Business acquisitions, net of cash acquired (2) (37) Additions to property, plant and equipment (15) (15) Additions to intangible assets (3) (5) Proceeds on disposal of property, plant and equipment 1 – Net cash used in investing activities (19) (57) Net change in cash (bank indebtedness) 9 (6) (Bank indebtedness) cash, beginning of period:  Cash  7 24 Bank indebtedness  (10) (3) (3) 21 Cash, end of period: Cash 7 15 Bank indebtedness (1) – 6 15

GDI INTEGRATED FACILITY SERVICES INC. Segmented information
(In millions of Canadian dollars)

Three-month period ended September 30, 2023 Business 
Services 
Canada Business 
Services

USA Technical 
Services Corporate 
and Other (1) Total Recurring/contractual services 125 177 21 3 326 On-call services 11 8 75 1 95 Project – – 173 – 173 Manufacturing and distribution – – – 14 14 Other revenues 7 – – – 7 Total external revenues 143 185 269 18 615 Inter-segment revenues 3 – – (3) – Revenues 146 185 269 15 615 Income (loss) before income taxes 11 8 6 (14) 11 Net finance expense – 2 1 2 5 Operating income (loss) 11 10 7 (12) 16 Depreciation and amortization 3 4 9 3 19 Transaction, reorganization, and other costs – – – – – Share-based compensation (2) – – – 2 2 Strategic information technology projects configuration and customization costs  – – – 2 2 Adjusted EBITDA (3) 14 14 16 (5) 39 Total assets 260 346 554 119 1,279 Total liabilities 68 85 265 411 829 Additions to property, plant and equipment 2 2 6 1 11 Additions to intangible assets – – – – – Goodwill recorded on business acquisition – – – – –

(1)  Comparative results have been recast to reflect a change in our reporting segments, as former Complementary Services and Corporate and eliminations segments are now grouped under Corporate and Other.  (2)  Includes stock option, performance share unit and restricted share unit plans. (3)  Adjusted EBITDA definition now exclude the strategic information technology projects configuration and customization costs.

GDI INTEGRATED FACILITY SERVICES INC. Segmented information
(In millions of Canadian dollars)

Three-month period ended September 30, 2022 Business 
Services 
Canada Business
Services

USA Technical
Services Corporate 
and Other (1)  Total Recurring/contractual services 118 160 24 3 305 On-call services 14 14 64 – 92 Project – – 137 – 137 Manufacturing and distribution – – – 17 17 Other revenues 7 – 5 – 12 Total external revenues 139 174 230 20 563 Inter-segment revenues 3 – – (3) – Revenues 142 174 230 17 563 Income (loss) before income taxes 13 7 7 (11) 16 Net finance expense – 1 – 2 3 Operating income (loss) 13 8 7 (9) 19 Depreciation and amortization 4 4 8 2 18 Transaction, reorganization, and other costs – – – 1 1 Share-based compensation (2) – – – 2 2 Strategic information technology projects       configuration and customization costs – – – 1 1 Adjusted EBITDA (3) 17 12 15 (3) 41 Total assets (4) 267 320 515 118 1,220 Total liabilities (4) 81 68 232 400 781 Additions to property, plant and equipment 4 5 12 3 24 Additions to intangible assets – 4 – 1 5 Goodwill recorded on business acquisition – 4 (1) – 3

(1) Comparative results have been recast to reflect a change in our reporting segments, as former Complementary Services and Corporate and eliminations segments are now grouped under Corporate and Other.  (2)  Includes stock option, performance share unit and restricted share unit plans. (3)  The above table was revised to reflect the fact that the Adjusted EBITDA definition now exclude the strategic information technology projects configuration and customization costs. (4) As at December 31, 2022.

GDI INTEGRATED FACILITY SERVICES INC. Segmented information
(In millions of Canadian dollars)

Nine-month period ended September 30, 2023 Business 
Services 
Canada Business
Services

USA Technical
Services Corporate 
and Other (1) Total Recurring/contractual services 370 513 63 14 960 On-call services 33 28 222 4 287 Project – – 500 – 500 Manufacturing and distribution – – – 47 47 Other revenues 20 – – 1 21 Total external revenues 423 541 785 66 1,815 Inter-segment revenues 9 – – (9) – Revenues 432 541 785 57 1,815 Income (loss) before income taxes 33 24 9 (47) 19 Net finance expense – 3 4 12 19 Operating income (loss) 33 27 13 (35) 38 Depreciation and amortization 8 12 25 10 55 Transaction, reorganization, and other costs – – 1 1 2 Share-based compensation (2) – – – 7 7 Strategic information technology projects configuration and customization costs  – – – 4 4 Adjusted EBITDA (3) 41 39 39 (13) 106 Total assets 260 346 554 119 1,279 Total liabilities 68 85 265 411 829 Additions to property, plant and equipment 6 7 19 6 38 Additions to intangible assets – – 1 3 4 Goodwill recorded on business acquisition – – 2 – 2

(1)  Comparative results have been recast to reflect a change in our reporting segments, as former Complementary Services and Corporate and eliminations segments are now grouped under Corporate and Other.  (2)  Includes stock option, performance share unit and restricted share unit plans. (3)  Adjusted EBITDA definition now excludes the strategic information technology projects configuration and customization costs.

GDI INTEGRATED FACILITY SERVICES INC. Segmented information
(In millions of Canadian dollars)

Nine-month period ended September 30, 2022 Business 
Services 
Canada Business 
Services

USA Technical
Services Corporate 
and Other (1) Total Recurring/contractual services 350 460 66 10 886 On-call services 49 41 173 2 265 Project – – 357 – 357 Manufacturing and distribution – – – 48 48 Other revenues 21 1 5 1 28 Total external revenues 420 502 601 61 1,584 Inter-segment revenues 8 – 1 (9) – Revenues 428 502 602 52 1,584 Income (loss) before income taxes 45 19 4 (28) 40 Net finance expense – 6 2 5 13 Operating income (loss) 45 25 6 (23) 53 Depreciation and amortization 10 12 23 7 52 Transaction, reorganization, and other costs – – 1 1 2 Share-based compensation (2) – – – 5 5 Strategic information technology projects configuration and customization costs  – – – 2 2 Adjusted EBITDA (3) 55 37 30 (8) 114 Total assets (4) 267 320 515 118 1,220 Total liabilities (4) 81 68 232 400 781 Additions to property, plant and equipment 6 7 17 7 37 Additions to intangible assets – 4 10 5 19 Goodwill recorded on business acquisition – 4 23 – 27

(1)  Comparative results have been recast to reflect a change in our reporting segments, as former Complementary Services and Corporate and eliminations segments are now grouped under Corporate and Other.  (2)  Includes stock option, performance share unit and restricted share unit plans. (3)  The above table was revised to reflect the fact that the Adjusted EBITDA definition now exclude the strategic information technology projects configuration and customization costs. (4)  As at December 31, 2022.

GDI INTEGRATED FACILITY SERVICES INC.

Business acquisitions

Acquisition date Company acquired Location Segment reporting 2023 Acquisition June 1, 2023 React Technical, Inc. ("React") New York, New York Technical Services 2022 Acquisitions  January 21, 2022 Gestion E.C.I. inc. and its subsidiaries ("Énergère") Montréal, Quebec Technical Services March 1, 2022 M.T.I. Mechanical Trade Industries Ltd. and its subsidiary ("MTI") Markham, Ontario Technical Services September 1, 2022 Cascadian Building Maintenance, Ltd. ("Cascadian") Bellevue, Washington Business Services USA

GDI INTEGRATED FACILITY SERVICES INC. Supplementary Quarterly Financial Information
Three-month periods
(Unaudited) (In millions of Canadian dollars, except per share data)

Three months ended (in millions of Canadian dollars, except per share data) (1) September

2023 March

2023 March

2023 December

2022 Revenue  615 609 591 588 Operating income 16 10 12 15 Depreciation and amortization 19 19 17 22 Transaction, reorganization and other costs ‒ 1 1 1 Share-based compensation 2 3 2 3 Strategic information technology projects configuration and customization costs 2 1 1 1 Adjusted EBITDA (2) 39 34 33 42 Net income for the period  8 1 4 10 Earnings per share  Basic 0.35 0.04 0.15 0.41 Diluted 0.35 0.04 0.15 0.40

Three months ended (in millions of Canadian dollars, except per share data) (1) September

2022 June

2022 March

2022 December

2021 Revenue  563 526 495 433 Operating income 19 17 18 15 Depreciation and amortization 18 18 16 15 Transaction, reorganization and other costs 1 1 ‒ 2 Share-based compensation 2 1 2 2 Strategic information technology projects configuration and customization costs 1 1 ‒ ‒ Adjusted EBITDA (2) 41 38 36 34 Net income for the period  11 10 7 7 Earnings per share  Basic 0.45 0.40 0.30 0.30 Diluted 0.44 0.40 0.30 0.29

(1) The differences between the quarters are mainly the results of business acquisitions, as well as seasonality in the Technical Services segment. (2) Adjusted EBITDA definition now exclude the strategic information technology projects configuration and customization costs. This change has no impact on the three-month periods ended December 31, 2021, and March 31, 2022.

SOURCE GDI Integrated Facility Services Inc. Cision

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