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ISS Trading update for 1 January - 30 September 2021 Upgrade of financial outlook driven by fundamental business improvements Highlights ● Organic growth was 0.7 % in the first nine months of 2021 and 2.6 % in Q3 2021. Organic growth improved through the third quarter , predominantly in September , as customers started to return to office in some geographies , which impacted activity levels positively . Portfolio revenue showed initial signs of recovery , which more than offset a smaller decline in projects and above - base work due to lapsed ad - hoc Covid - 19 related services . Execution of the OneISS strategy progressed as planned with ISS being further streamlined and standardised for enhanced future execution . The turnaround initiatives driving recovery of the underperforming contracts and countries and the restructurings initiated in response to Covid - 19 continued to progress as planned . 12 divestments were signed or completed in the first nine months of 2021 corresponding to total net proceeds of approximately DKK 1.4 billion . The outlook for organic growth is confirmed and still expected to be positive . The outlook is upgraded for operating margin and free cash flow as a result of the continued progress of the underperforming contracts and countries and progress of the Covid - 19 restructuring initiatives : Operating margin is now expected to be around 2.5 % compared to previously " above 2 % " Free cash flow is now expected to be around DKK 1.5 billion compared to previously " above DKK 1 billion " O Company announcement no . 23/2021 Copenhagen , 4 November 2021 O Jacob Aarup - Andersen Group CEO , ISS A / S , says : " In the third quarter , we continued our work to create a healthier and fundamentally stronger ISS . I am very pleased with our ability to execute on our OneISS strategy while simultaneously navigating a challenging environment with volatile activity levels as well as high wage inflation and scarcity of qualified employees in certain regions . We are seeing customers gradually returning to the office , albeit at varying pace across geographies . We expect a continued measured pace of return in the coming period as infection levels remain high in many countries creating a sense of caution . Our turnaround initiatives are clearly paying off and the success of our execution allows us to upgrade our outlook on operating margin and free cash flow . Progress on these two financial metrics is key to create a healthy foundation and reach our turnaround targets for 2022. I want to thank all employees for achieving this important milestone and for staying agile and passionate in their support to our customers . " Revenue overview DKKm ( unless otherwise stated ) Revenue Organic growth Acquisitions & Divestments Currency adjustment Revenue growth Q3 2021 17,479 2.6 % ( 0.2 ) % 0.8 % 3.2 % ISS A / S - Trading update for 1 January - 30 September 2021 Q3 2020 16,943 ( 8.8 ) % ( 2.3 ) % ( 2.5 ) % ( 13.6 ) % YTD 2021 51,882 0.7 % ( 0.4 ) % ( 1.3 ) % ( 1.0 ) % YTD 2020 52,424 ( 5.0 ) % ( 1.9 ) % ( 1.2 ) % ( 8.1 ) % 1 of 12