Mr. Mike Gordon reports

ALTUS GROUP TO UNVEIL VALUE CREATION PLAN AT INVESTOR DAY TODAY

Altus Group Ltd. is hosting an investor day today. Altus's Executive Chair and incoming CEO Mike Gordon, along with other members of the executive team, will provide an update on the company's strategic direction, followed by a Q&A (question-and-answer) session. The presentation portion of the event will begin at approximately 8:30 a.m. ET and is expected to conclude by noon.

"Altus has a tremendous opportunity ahead as it enters its next growth phase. The initiatives we are announcing today will accelerate the pace of our execution and further our position as a pure-play CRE intelligence provider," said Mike Gordon. "We look forward to sharing more about our value creation plan to reposition Altus's financial profile and drive significant value for our shareholders."

Today's presentation includes the following strategic updates:

Mid-term financial target

• The company will launch a goal to exit 2027 as a Rule of 40 company at the consolidated level, as defined by the sum of its revenue growth and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) margin.

Portfolio optimization

• The company will further streamline its portfolio around its core Argus and valuation management solutions (VMS) businesses to enhance strategic focus on higher-growth and higher-margin assets and position Altus as a pure play data analytics platform.
• The company has initiated a sale process to divest its appraisals and development advisory (A&DA) segment businesses, which the company believes will unlock more value for its employees and clients on both sides, who will benefit from a sharpened organizational focus.
• The company is actively evaluating divesting or optimizing other non-core analytics products and services that are dilutive to growth and retention rates.

Capital return

• The company's disciplined capital allocation strategy is focused on evaluating all uses of excess cash based on an incremental return profile. Currently, the most compelling opportunity is for Altus Group to seek to repurchase its shares through an increased buyback program.
• The board of directors has authorized up to $500-million to be returned to shareholders through a combination of a substantial issuer bid (SIB) and a normal course issuer bid (NCIB).
• The company intends to initiate a SIB pursuant to which the company will offer to purchase for cancellation up to $350-million of its common shares. The company expects the offer to commence on or about Nov. 26, 2025, and, on that basis, that the offer will expire on Jan. 8, 2026, unless extended, varied or withdrawn.
• The offer is expected to proceed by way of a modified Dutch auction, which will allow shareholders who choose to participate in the offer to select the price, within a price range of not less than $50 and not more than $57 per common share (in increments of 0.25). Upon expiry of the offer, the company will determine the lowest purchase price (which will not be more than $57 per common share and not less than $50 per common share) that will allow the company to purchase the maximum number of common shares properly tendered to the offer, having an aggregate purchase price not exceeding $350-million. The offer will not provide for any proportionate tenders. The directors and officers of the company have advised that they will not tender any of their common shares pursuant to the offer.
• The offer will not be conditional upon any minimum number of common shares being tendered. The offer will, however, be subject to other conditions, and the company reserves the right, subject to applicable laws, to withdraw, extend or vary the offer if, at any time prior to the payment of the purchase price of any common shares, certain events occur as will be described in the offer documents (as defined below).
• The company also intends to renew its NCIB in Q1 2026 in accordance with applicable stock exchange rules and execute purchases throughout the year.
• Given the attractive and stable financial profile of Altus Group, management believes the business can comfortably operate with modest incremental leverage. The company intends to progress toward its financed debt to EBITDA (earnings before interest, taxes, depreciation and amortization) leverage target of approximately 2.5 times.
• The company is committed to maintaining its current quarterly dividend.

New financial disclosures

• The company will introduce new financial disclosures to be reported on a quarterly basis, commencing with its Q4 FY25 financial results, including:
  • Analytics segment revenue lines: software, VMS, data and services;
  • Operating metrics: annual recurring revenue (ARR) and retention metrics for its software and VMS revenue lines;
  • Functional profit and loss (P&L) disclosures.
• The company also plans to update its adjusted EBITDA and adjusted earnings definitions in response to investor feedback and to better align with reporting peers.

United States dual-listing

• The company plans to pursue a secondary dual-listing of its common shares in the U.S. market, a strategic geography for its operations and home to the world's largest capital markets.
• Management believes that dual-listing in the U.S. will provide greater visibility for Altus Group and help deliver more opportunities for its investors and employees to participate in Altus Group's value creation.
• At this time, the company does not intend to raise capital in conjunction with the dual-listing and will be maintaining its listing on the Toronto Stock Exchange (TSX).
• The planned dual-listing is at an early stage and is expected to occur in 2027. The company will make further announcements in accordance with applicable laws and regulations, as and when appropriate.

Investor day registration and materials

A copy of the related presentation will be available on Altus Group's website under the investor relations section when the event begins at approximately 8:30 a.m. ET.

• To register for the virtual event, please visit the company website.
• An archive of the webcast of the event will be available on Altus Group's website under the investor relations section within 48 hours.

About Altus Group Ltd.

Altus connects data, analytics, applications and expertise to deliver the intelligence necessary to drive optimal CRE performance. The industry's top leaders rely on the company's market-leading solutions and expertise to power performance and mitigate risk. Altus's global team of approximately 1,800 experts are making a lasting impact on an industry undergoing unprecedented change -- helping shape the cities where we live, work and build thriving communities.

We seek Safe Harbor.