Altus Group hosts investor update conference call today and provides financial outlook for its Altus Analytics business

About Altus Group

Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services.

Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, proprietors, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle.

Altus Group is a global company headquartered in Toronto with approximately 2,700 employees across North America, EMEA and Asia Pacific. For more information about Altus (TSX: AIF) please visit altusgroup.com.

Caution regarding forward-looking statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Statements concerning Altus Group Limited’s (“Altus” or the “Company”) objectives, goals, strategies, priorities, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of Altus are forward-looking statements. The words “believe”, “expect”, “anticipate”, “estimate”, “intend”, “may”, “will”, “would”, “could”, “should”, “continue”, “plan”, “goal”, “objective”, and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Certain material factors and assumptions were applied in providing these forward-looking statements. Forward-looking information involves numerous assumptions including the following specific assumptions: the ability of Altus to meet its “Revenue”, “Recurring Revenue” and “Adjusted EBITDA Margins” targets, assumptions on Altus Analytics bookings growth, retention rates, growth in its Data Solutions and Appraisal Management businesses, assumptions on the Argus Software revenue model, license sales, subscription renewal rates, cloud conversion (including timing and rate), assumptions on other Altus Analytics contributors, expenses, operating leverage, and foreign exchange. Projections may be impacted by macroeconomic factors, in addition to other factors not controllable by the Company. Altus has also made certain macroeconomic and general industry assumptions in the preparation of such forward-looking statements. Management believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Management can give no assurance that actual results will be consistent with these forward-looking statements. Not all factors which affect the forward-looking information are known, and actual results may vary from the projected results in a material respect, and may be above or below the forward-looking information presented in a material respect.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Altus’ actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Risks related to forward-looking statements include, among other things, risks relating to cloud adoption and conversion, pricing pressure, risks relating to Altus’ Appraisal Management business and demand for implementation services; as well as general market conditions, including economic and exchange rate dynamics. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company's most recently filed Annual Information Form and the most recently filed annual MD&A for the year ended December 31, 2018, available on SEDAR at www.sedar.com, also identify additional factors that could affect the operating results and performance of the business. Forward-looking statements are based on management’s current plans, estimates, projections, beliefs and opinions, and Altus does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change except as required by applicable securities laws. All of the forward-looking statements made in this presentation are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Altus.

Non-IFRS Measures

This press release makes reference to certain non-IFRS financial measures. These non-IFRS financial measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of operations from Management’s perspective. Accordingly, non-IFRS measures should never be considered in isolation nor as a substitute to using net income as a measure of profitability or as an alternative to the IFRS consolidated statements of revenues, net income, cash flows or other IFRS statements. Management presents non-IFRS measures, specifically “Recurring Revenue”, “Adjusted EBITDA” and "Adjusted EBITDA Margin” as it believes these supplementary disclosures provide useful additional information related to the operating results of Altus Analytics and uses these measures of financial performance as a supplement to the consolidated statements of income of this business. See "Non-IFRS measures" in Altus' MD&A for the three month ended March 31, 2019 for a more complete description of “Adjusted EBITDA Margin”, for a reconciliation of Adjusted EBITDA to its most directly comparable IFRS measure and for a discussion of Altus Analytics “Recurring Revenue”, including its definition.