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P / W / P PERELLA WEINBERG PARTNERS Perella Weinberg Partners Reports First Quarter 2021 Results • Record First Quarter 2021 Revenues of $ 170 Million , Up 84 % from Q1 2020 • • • First Quarter 2021 GAAP Operating Income Margin of 16.5 % vs ( 3.9 % ) in Q1 2020 and Adjusted Operating Income Margin of 21.2 % vs. 4.6 % in Q1 2020 First Quarter 2021 GAAP Net Income of $ 23 Million , Up $ 27 million from Q1 2020 , and Adjusted Net Income of $ 32 Million , Up 566 % from Q1 2020 Added Six Advisory Partners , enhancing our client coverage footprint in Europe and the United States Business Combination with FinTech Acquisition Corp. IV ( " FTIV " ) Expected to Close in Second Quarter 2021 NEW YORK , NY , May 17 , 2021 – Perella Weinberg Partners ( " PWP " ) , a leading global independent advisory firm , today reported financial results for the quarter ended March 31 , 2021. The firm reported revenues of $ 169.8 million for the three months ended March 31 , 2021 , compared with $ 92.4 million for the three months ended March 31 , 2020. GAAP net income and adjusted net income were $ 22.5 million and $ 31.5 million , respectively , for the three months ended March 31 , 2021 , compared with GAAP net loss of ( $ 4.1 ) million and adjusted net income of $ 4.7 million , for the three months ended March 31 , 2020. ( 1 ) " We were pleased to see advisory activity continue to accelerate in the first quarter of 2021. We believe we benefited from an overall rise in advisory activity , rising demand for independent advice and PWP's strengthening brand in the marketplace . During the quarter , we saw robust activity across our industries and geographies of focus and in all of our advisory products . As we continue along our path towards becoming a public company , our team is focused on growing our coverage footprint and deepening our client relationship to drive sustainable growth and deliver long - term shareholder value , " stated Peter Weinberg , Chief Executive Officer . Selected Financial Data ( Unaudited ) U.S. GAAP Adjusted ( Non - GAAP ) 2021 Three Months Ended March 31 , 2020 2021 2020 Revenues Operating expenses : Total compensation and benefits Non - compensation expenses $ 169,802 $ 92,396 $ 169,802 $ 92,396 115,627 64,696 109,305 58,511 26,131 31,295 24,486 29,650 Operating income ( loss ) 28,044 ( 3,595 ) 36,011 4,235 Total non - operating income ( expense ) ( 3,513 ) 243 ( 2,479 ) 1,204 Income ( loss ) before provision for income taxes 24,531 ( 3,352 ) 33,532 5,439 Income tax benefit ( expense ) ( 2,024 ) ( 710 ) ( 2,024 ) ( 710 ) Net income ( loss ) $ 22,507 $ ( 4,062 ) $ 31,508 $ 4,729 Revenues For the first quarter 2021 , revenues were $ 169.8 million , an increase of 84 % from $ 92.4 million for the first quarter 2020 . The year - over - year growth reflects strong performance in the M & A and restructuring advisory businesses . The increase in revenue can be attributed to an increase in the number of advisory clients and the average fee size as compared to the same period last year . ( 1 ) Throughout this release , adjusted figures represent non - GAAP information . See " Non - GAAP Financial Measures " and the tables at the end of this release for an explanation of the adjustments and reconciliations to the comparable GAAP numbers . 1