Page 1

DOREL DOREL JUVENILE Maxi - Cosi Quinny Tiny Love Safety 1st Bébé Confort Cosco Infanti DOREL SPORTS Cannondale Schwinn Caloi GT Mongoose Kid Trax DOREL HOME Dorel Home Products Cosco Home & Office Ameriwood Dorel Living Signature Sleep Little Seeds EXCHANGES TSX : DII.B , DII.A CONTACTS : Saint Victor Investments Inc Rick Leckner ( 514 ) 245-9232 Dorel Industries Inc. Jeffrey Schwartz ( 514 ) 934-3034 со м MUN I QUÉ DOREL REPORTS THIRD QUARTER RESULTS • Agreement to sell Dorel Sports unlocks significant shareholder value All segments adversely affected by supply chain disruptions and higher costs Results include US $ 61.7 million charge related to the unfavourable Luxembourg tax ruling Montréal , November 5 , 2021 Dorel Industries Inc. ( TSX : DII.B , DII.A ) today announced results for the third quarter and nine months ended September 30 , 2021 . " The third quarter was highlighted by the agreement reached to sell Dorel Sports . The transaction has accomplished our major objective of unlocking shareholder value by monetizing Dorel Sports at a time when the demand for bicycles is strong . We will provide further details of the use of net proceeds once the deal closes , which is expected before the end of the first quarter next year . Our focus now is to replicate the success achieved in our sports business at Dorel Home and Dorel Juvenile . To this end , last month we announced initiatives to strengthen Dorel Home with new equipment to facilitate domestic production at our three North American factories , as well as a strategic European acquisition which has a strong ecommerce presence in home furnishings throughout Europe . In the mid - term however , the on - going global supply chain disruptions present challenges to meet the continuing consumer demand for Dorel's products . This had a negative impact on Dorel Home's third quarter as well as on Juvenile's performance , particularly in Europe . These issues will continue in the short - term , but we are actively working on solutions and are confident in our ability to work through them , " stated Dorel President & CEO , Martin Schwartz . Third quarter revenue from continuing operations , namely Dorel Home and Dorel Juvenile , was US $ 437.2 million , down 2.4 % from US $ 447.8 million last year . Reported net loss from continuing operations was US $ 68.0 million or US $ 2.09 per diluted share , compared to a reported net income of US $ 9.3 million or US $ 0.28 per diluted share last year . Adjusted net loss¹ was US $ 66.8 million or US $ 2.06 per diluted share , compared to an adjusted net income¹ of US $ 9.1 million or US $ 0.28 per diluted share a year ago . Included in the results of the quarter is an amount of US $ 61.7 million , or US $ 1.90 per diluted share to reflect that the Luxembourg Administrative Court has levied a final judgment of € 54.6 million ( euros ) in tax ( US $ 64.2 million ) including interest . As such , Dorel must pay the Luxembourg tax authorities a remaining cash balance of € 38.6 million ( euros ) ( US $ 45.4 million ) . 1 This is a non - GAAP financial measure . Please refer to the " Non - GAAP financial measures " section at the end of this press release . 1