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Press Release • Osavaria . FOR IMMEDIATE RELEASE Savaria Presents Q3 2021 Results : Revenue up 99 % , Adjusted EBITDA up 56 % Laval , Québec , Canada , November 10 , 2021 - Savaria Corporation ( " Savaria ” ) ( TSX : SIS ) , a global leader in the accessibility industry , is pleased to announce its results for the third quarter ended September 30 , 2021 . Highlights - Q3 2021 vs. Q3 2020 Revenue was $ 180.8M , up $ 90.0M or 99.1 % , mainly due to the acquisition of Handicare ; ⚫ Gross profit was $ 58.5M , up $ 25.9M or 79.6 % , representing 32.4 % of revenue compared to 35.9 % in Q3 2020 ; ⚫ Adjusted EBITDA was $ 26.3M , up $ 9.4M or 55.6 % ; • • Adjusted EBITDA margin stood at 14.6 % , compared to 18.6 % in Q3 2020 ; Net earnings were $ 9.1M or $ 0.15 per share on a diluted basis . Adjusted net earnings were $ 9.6M or $ 0.15 per share on a diluted basis , up $ 1.3M or 16.3 % ; • Funds available of $ 138.0M to support working capital , investments and growth opportunities ; • Savaria has now paid for 100 % of the shares of Handicare . Q3 YTD in thousands of dollars , except per - share amounts and percentages 2021 2020 Change Revenue $ 180,758 $ 90,808 2021 99.1 % $ 471,454 2020 Change $ 263,895 78.7 % Gross Profit¹ $ 58,508 $ 32,583 79.6 % $ 155,712 $ 91,994 69.3 % % of revenue 32.4 % 35.9 % n / a 33.0 % 34.9 % n / a Net earnings $ 9,125 $ 8,127 12.3 % $ 21,341 $ 19,749 8.1 % % of revenue 5.0 % 8.9 % n / a 4.5 % 7.5 % n / a Diluted net earnings per share $ 0.15 $ 0.16 ( 6.3 ) % $ 0.35 $ 0.39 ( 10.3 ) % Adjusted net earnings² $ 9,588 $ 8,241 16.3 % $ 27,014 $ 21,678 24.6 % % of revenue 5.3 % 9.1 % n / a 5.7 % 8.2 % n / a Diluted adjusted net earnings per share2 $ 0.15 $ 0.17 ( 11.8 ) % $ 0.44 $ 0.43 2.3 % Adjusted EBITDA2 $ 26,312 $ 16,914 55.6 % $ 70,999 $ 43,741 62.3 % % of revenue 14.6 % 18.6 % n / a 15.1 % 16.6 % n / a 1 Cost of sales and selling and administrative expenses of Handicare for periods prior to Q3 2021 have been restated in accordance with Savaria's accounting policies , with no impact on earnings before income tax 2 Non - IFRS measures are described in section 3 of the MD & A A Word from the President " I am very pleased with our third - quarter results for 2021 , given that we delivered strong bookings and sales year - over - year in a challenging environment . Our adjusted EBITDA for the quarter was negatively impacted by inflationary pressures , including soaring freight costs , and without these challenges , adjusted EBITDA would have exceeded $ 30 million . The good news is that we witnessed a decrease in exorbitant freight costs more recently . Our adjusted EBITDA margin , meanwhile , attained 14.6 % in the third quarter , but without the incremental costs , it would have hit approximately 17 % . " On the business side , we are on track to start producing the Handicare Freecurve stairlift in Ontario by the end of the year , providing us with a competitive advantage in production and shipping lead times for our North American dealer network . There is also encouraging data for Savaria in terms of new home construction with heightened sales expectations for new homes in the upcoming six months due to U.S. homebuilding confidence rising in October . PRESS RELEASE NOVEMBER 10 , 2021 PAGE 1 OF 5