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CONVERGE TECHNOLOGY SOLUTIONS Converge Technology Solutions Reports Second Quarter 2021 Financial Results Company announces another record quarter as it positions itself for expansion into new markets . FOR IMMEDIATE RELEASE - August 11 , 2021 TORONTO , ONTARIO , CANADA and GATINEAU , QUÉBEC , CANADA Converge Technology Solutions Corp. ( " Converge " or " the Company " ) ( TSX : CTS ) ( FSE : OZB ) ( OTCQX : CTSDF ) is pleased to provide its financial results for the three and six months ended June 30 , 2021. All figures are in Canadian dollars unless otherwise stated . Q221 Highlights ☐ Second quarter revenue increased 52 % over last year to $ 345.3 million Gross profit increased 43 % over last year to $ 78.2 million Adjusted EBITDA increased 86 % to $ 21.7 million from $ 11.7 million last year Not included in our Q2 results are $ 54.6 million of revenue and $ 3.9 million of Adjusted EBITDA which are part of the Vicom Infinity and Infinity System acquisitions announced on June 30th but not yet closed Net income was $ 1.0 million compared to a loss of $ 4.4 million last year Closed $ 172.5 million equity financing at $ 7.50 per common share in June 2021 Added Doris Albiez to the European Advisory Board and appointed Darlene Kelly and Thomas Volk to the Converge Board at the Converge Annual General Meeting ☐ Completed the acquisitions of Dasher Technologies , Inc. , a leading Silicon Valley - based IT solution provider ; Exactly IT , a next generation managed IT service provider ; and signed definitive agreements to acquire both Vicom Infinity , Inc. and Infinity Systems Software Achieved Five Key 2021 IBM Awards including : the Beacon Award ; Top North America Sell Business Partner of the Year ; Top North America IBM and Red Hat Synergy Partner of the Year ; IBM Data and Al Business Unit Excellence Award for Cloud Pak for Data ; and , IBM Business Unit Excellence Award for Protect : Digital Trust Added 121 Net New Logos throughout the Quarter Achieved Titanium Partner Status with Intel Corporation ; Diamond Status with Palo Alto Networks ; Elite Partner Status with Pure Storage ; and ranked within top fifty on CRN's 2021 Solution Provider 500 List Subsequent to Quarter Completed acquisition of REDNET AG , an IT service provider headquartered in Mainz , 1