An anonymous director reports

BOYD GROUP SERVICES INC. ANNOUNCES PRICING OF C$525 MILLION SENIOR UNSECURED NOTE OFFERING

Boyd Group Services Inc. has priced a private placement offering of $525-million principal amount of senior unsecured notes due 2030 of the company at a price of $1,000 per $1,000 principal amount of notes, with an interest rate of 5.50 per cent per annum, payable semi-annually in arrears on Nov. 6 and May 6, commencing on May 6, 2026.

Boyd Group Services intends to use the net proceeds from the offering, together with proceeds from the company's previously announced equity offering, to partially finance the purchase price for the acquisition of Joe Hudson's Collision Center, a provider of automotive collision repair services, as previously announced on Oct. 29, 2025, pursuant to a definitive equity purchase agreement dated Oct. 29, 2025. In connection with the closing of the offering and the closing of the company's $780-million (U.S.) common share offering, which was announced on Oct. 29, 2025, and is expected to close on Nov. 4, 2025, the bridge facility commitments obtained by the company as a source of interim financing for the acquisition will be fully cancelled and replaced with the aggregate net proceeds of the equity offering and the offering. The closing of the acquisition is expected to occur in the fourth quarter of 2025, subject to customary closing conditions and regulatory requirements.

If the closing of the acquisition has not occurred on or prior to 5 p.m. Toronto time on April 29, 2026 (or such later date as permitted in accordance with the purchase agreement), or if, prior to such time, the purchase agreement is terminated in accordance with its terms or Boyd Group Services issues a press release announcing or notifies the trustee for the notes that it does not intend to proceed with the acquisition, as further described in the terms of the notes, the notes will be subject to a special mandatory redemption at a price equal to 100 per cent of the principal amount of the notes, plus accrued and unpaid interest, if any, to the date of such special mandatory redemption.

The offering is being made through a syndicate of underwriters led by National Bank Capital Markets, TD Securities and RBC Capital Markets as joint active bookrunners and by CIBC Capital Markets as joint passive bookrunner.

Subject to customary closing conditions, the offering is expected to close on or about Nov. 6, 2025.

About Boyd Group Services Inc.

Boyd Group Services is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. The company's shares trade on the Toronto Stock Exchange under the symbol BYD and on the New York Stock Exchange under the symbol BGSI.

About The Boyd Group Inc.

The Boyd Group is one of the largest operators of non-franchised collision repair centres in North America in terms of number of locations and sales. The company operates locations in Canada under the trade names Boyd Autobody & Glass and Assured Automotive as well as in the United States under the trade name Gerber Collision & Glass. In addition, the company is a major retail auto glass operator in the United States with operations under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority, and Autoglassonly.com. The company also operates a third party administrator, Gerber National Claims Services (GNCS), that offers glass, emergency roadside and first-notice-of-loss services. The company also operates a mobile auto solutions (MAS) service that offers scanning and calibration services.

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