Page 1

Exhibit 99.1 APi Group -API Group Reports Second Quarter and First Half 2021 Financial Results- -Net revenues , excluding Industrial Services , increased on an organic basis by 21 % in the second quarter- -Adjusted earnings per share in the second quarter of $ 0.31- -Acquisition of Chubb fire and security business expected to close around year - end 2021- New Brighton , Minnesota - August 11 , 2021 - API Group Corporation ( NYSE : APG ) ( " APG " , " API " or the " Company " ) today reported its financial results for the three and six months ended June 30 , 2021 . Second Quarter 2021 Highlights : • • Reported net revenues increased by 10.0 % or $ 89 million to $ 978 million compared to $ 889 million in the prior year period , primarily driven by general market recoveries in Safety and Specialty Services and revenue from acquisitions completed in the second half of 2020 in Safety Services , partially offset by the divestiture of two businesses in Industrial Services and the delay and suspension of certain projects in Industrial Services Adjusted net revenues increased by 15.2 % or $ 129 million to $ 978 million , compared to $ 849 million in the prior year period , primarily driven by general market recoveries in Safety and Specialty Services , offset by the delay and suspension of certain projects in Industrial Services Net revenues , excluding Industrial Services , increased on an organic basis by 21.1 % compared to the prior year period Reported gross margin was 23.7 % , representing a 415 basis point increase compared to prior year gross margin of 19.6 % , driven by a decrease in amortization expense , improved mix in Safety Services and the divestiture of two businesses in Industrial Services , partially offset by supply chain disruptions and inflation causing downward pressure on margins Adjusted gross margin was 24.2 % , representing a 27 basis point decrease compared to prior year adjusted gross margin of 24.5 % , driven by supply chain disruptions and inflation causing downward pressure on margins , partially offset by improved mix in Safety Services Reported operating income was $ 47 million , an improvement of $ 20 million from prior year operating income of $ 27 million Reported net income was $ 21 million , a $ 15 million decline from prior year net income of $ 36 million , reflecting a non - cash $ 9 million loss on the extinguishment of debt and income tax expense of $ 9 million compared to an income tax benefit of $ 12 million in the prior year period . Reported net income was $ 0.09 per diluted share Adjusted net income was $ 63 million and adjusted diluted EPS was $ 0.31 , representing a $ 0.03 decline from prior year primarily due to the increased number of shares to 206 million from 174 million in the prior year period Adjusted EBITDA was $ 106 million or 10.8 % , representing a 106 basis point decline compared to prior year adjusted EBITDA margin of 11.9 % , driven by supply chain disruptions and inflation causing downward pressure on margins and less contribution from joint ventures in Specialty Services than the prior year period First Half 2021 Highlights : Reported net revenues increased by 1.9 % or $ 34 million to $ 1.8 billion compared to $ 1.7 billion in the prior year period , primarily driven by general market recoveries in Safety and Specialty Services and revenue from acquisitions completed in the second half of 2020 in Safety Services , partially offset by the divestiture of two businesses in Industrial Services and the delay and suspension of certain projects in Industrial Services Adjusted net revenues increased by 6.7 % or $ 112 million to $ 1.8 billion , compared to $ 1.7 billion in the prior year period , primarily driven by general market recoveries in Safety and Specialty Services , offset by the delay and suspension of certain projects in Industrial Services 1