12 November, 2020

TORONTO (November 12, 2020) ‐ Altus Group Limited (ʺAltus Groupʺ or “the Company”) (TSX: AIF), a leading
provider of software, data solutions and independent advisory services to the global commercial real estate
industry, announced today its financial and operating results for the third quarter ended September 30, 2020.

All amounts are in Canadian dollars and percentages are in comparison to the same period in 2019.

Third Quarter 2020 Summary:

  • Consolidated revenues were $135.0 million, up 6.4%
  •  Consolidated profit from continuing operations, in accordance with IFRS, was $9.3 million, up 102.2%
  • Consolidated earnings per share from continuing operations, in accordance with IFRS, was $0.23 per
    share basic and $0.22 per share diluted, compared to $0.12 and $0.11, respectively
  • Consolidated Adjusted EBITDA1 was $24.0 million, up 28.0%
  • Adjusted earnings per share2 (“Adjusted EPS”) from continuing operations was $0.40, compared to $0.28
  • Altus Analytics Over Time3 revenues grew 12.3% to $41.4 million (total Altus Analytics revenues
    decreased by 2.5% to $49.2 million while Adjusted EBITDA1 increased by 6.8% to $11.1 million)
  • CRE Consulting revenues grew 12.3% to $85.8 million and Adjusted EBITDA1 increased by 33.5% to $24.8
    million, driven by 18.2% revenue and 36.8% Adjusted EBITDA growth at Property Tax
  • Bank debt was $153.5 million (representing a funded debt to EBITDA leverage ratio of 1.49 times) and
    cash and cash equivalents was $91.1 million

“As the CRE industry continues to navigate through a challenging external environment, our mission critical
solutions and core services are driving significant client value in enabling our customers to better analyze, gain
insight and recognize value of their real estate investments,” said Mike Gordon, Chief Executive Officer at Altus
Group. “This is reflected in our steady topline growth, while our focus on operational improvements is
contributing to earnings growth and an improvement in our operating margins. Looking out, we remain well
positioned to deliver on long term growth through the execution of our strategy at both our Altus Analytics and
CRE Consulting segments.”

Contacts

Camilla BartosiewiczBartosiewicztoronto-hq

Vice President, Investor Relations

About Altus Group

Altus Group Limited is a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Commercial Real Estate Consulting, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,200 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include many of the world’s largest commercial real estate industry participants. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the Toronto Stock Exchange under the symbol AIF.

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