Page 1

Press Release Osavaria . FOR IMMEDIATE RELEASE Savaria Announces 2021 Q1 Results : Revenue up 27 % and Adjusted EBITDA up 40 % Laval , Québec , Canada , May 11 , 2021 – Savaria Corporation ( " Savaria ” ) ( TSX : SIS ) , a global leader in the accessibility industry , is pleased to announce its results for the first quarter of fiscal 2021 . Highlights • Revenue was $ 112.1M , up $ 23.7M or 26.8 % ; ⚫ Gross profit was $ 38.9M , up $ 8.8M or 29.2 % , representing 34.7 % of revenue compared to 34.1 % in Q1 2020 ; • Adjusted EBITDA was $ 17.3M , up $ 4.9M or 39.9 % compared to Q1 2020. Adjusted EBITDA margin stood at 15.4 % , compared to 14.0 % in Q1 2020 ; • Adjusted net earnings were $ 7.9M or $ 0.14 per share on a diluted basis , up $ 0.8M or 10.5 % . Q1 in thousands of dollars , except per - share amounts and percentages 2021 2020 Change Revenue $ 112,075 $ 88,419 26.8 % Gross profit $ 38,940 $ 30,142 29.2 % % of revenue 34.7 % 34.1 % n / a Adjusted net earnings¹ $ 7,934 $ 7,180 10.5 % % of revenue 7.1 % 8.1 % n / a Adjusted net earnings per share¹ $ 0.14 $ 0.14 0.0 % Adjusted EBITDA¹ $ 17,293 $ 12,357 39.9 % % of revenue 15.4 % 14.0 % Adjusted EBITDA per share¹ $ 0.31 $ 0.24 n / a 29.2 % 1 Non - IFRS measures are described in the ' Glossary ' section of the MD & A A Word from the President " During this challenging period of global pandemic , I am proud of our 2300 employees who have continued to serve our worldwide customers , all the while maintaining each other's safety . We successfully closed a game - changing acquisition with Handicare Group AB on March 4 , 2021. At over $ 520 million of enterprise value , this acquisition significantly solidified Savaria's position as the global leader in manufacturing of accessibility equipment . It has always been my vision to offer the best accessibility product portfolio to the world . From a stairlift to a wheelchair platform lift , to a luxury home elevator , a medical bed , patient lift and sling or wheelchair van , our products help people with mobility challenges , " stated Mr. Marcel Bourassa , President and Chief Executive Officer of Savaria . " We continue to work hard on synergies between Handicare , Span , Garaventa Lift and Savaria , including costs savings for materials , leveraging know - how and staffing expertise and most important , the expansion of sales . To that end , we generate sales in over 40 countries with 30 direct sales offices , over 1000 dealers and 15 manufacturing / distribution facilities , in 12 countries across almost one million square feet . PRESS RELEASE MAY 11 , 2021 PAGE 1 OF 3