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GDI PRESS RELEASE Integrated Facility Services For immediate release GDI Integrated Facility Services Inc. Releases its Financial Results for the First Quarter Ended March 31 , 2021 • Q1 2021 revenue of $ 383.6 million – an increase $ 28.7 million , or 8.1 % , over Q1 2020 . • Q1 2021 Adjusted EBITDA¹ of $ 33.5 million - an increase of $ 13.5 million , or 67.2 % , over Q1 2020 . • Q1 2021 net income of $ 13.1 million or $ 0.57 per share compared with $ 4.3 million or $ 0.20 per share in the first quarter of 2020 . • Excluding The BPAC Group Inc. acquisition , long - term debt , net of cash and bank indebtedness , decreased by $ 48.9M between December 31 , 2020 and March 31 , 2021 . LaSalle , Quebec , May 6 , 2021 – GDI Integrated Facility Services Inc. ( " GDI ” or the “ Company ” ) ( TSX : GDI ) is pleased to announce its financial results for the first quarter ended March 31 , 2021 . For the first quarter of 2021 : • • • Revenue for the first quarter of 2021 was $ 383.6 million , an increase of $ 28.7 million , or 8.1 % , over the first quarter of 2020. The revenue growth came from acquisitions in the amount of 10.4 % , offset by an organic revenue decline of 0.7 % and a negative exchange rate effect of 1.6 % . The organic decline was driven by COVID - 19 pandemic related impacts . Adjusted EBITDA¹ for the first quarter of 2021 amounted to $ 33.5 million , an increase of $ 13.5 million , or 67.2 % , over the first quarter of 2020 . Net income was $ 13.1 million or $ 0.57 per share compared to $ 4.3 million or $ 0.20 per share in Q1 2020 . Acquisition of The BPAC Group Inc. ( " BP " ) closed on January 1 , 2021 , the integration is progressing well and is being implemented according to plan . Long - term debt increased by $ 20.9 million from $ 168.7 million on December 31 , 2020 to $ 189.6 million on March 31 , 2021 while cash , net of bank indebtedness , also increased by $ 24.0 million over the same period . Excluding the BP acquisition , long - term debt , net of cash and bank indebtedness , decreased by $ 48.9 million . 1 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 , Canadian Emergency Wage Subsidy and related expenses , transaction , reorganization and other costs and share - based compensation . 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 ) . 1