Mr. Jean Paschini reports

ADF GROUP ANNOUNCES NEW CONTRACTS IN THE UNITED STATES WORTH A TOTAL OF 142 MILLION DOLLARS

ADF Group Inc. has signed a series of new orders worth a total of $142-million in the United States, including a major contract for the first phase of a construction project in the pharmaceutical industry in the Midwestern region.

This major new contract, which is the largest contract in this series of new orders, in terms of value, consists in the design and engineering of connections, fabrication, including the supply of steel and industrial coating, as well as the installation of the steel structure of a new large industrial building.

This project requires a high-volume production. Work will begin in the coming weeks at ADF's Terrebonne plant and will extend over a period of 12 months. Jean Paschini, chairman of the board of directors and chief executive officer, pointed out: "This project will be carried out largely using our new robot-assisted fabrication line and all work related to the fabrication and assembly of the complex steel components part of this building's construction are entrusted to the know-how of our production teams. Our recent investments in our infrastructure and in new technologies give us the ability to effectively meet this project's requirements and our client's ambitious targets."

Mr. Paschini added that the corporation has already begun negotiations with its client for the second phase of this construction project.

The corporation's order backlog reached $376.5-million as at Jan. 31, 2023.

Conference call with investors

A conference call with investors is scheduled for Wednesday, June 7, 2023, at 10 a.m. Montreal time to discuss the results of the corporation's first quarter ended April 30, 2023.

To join the conference call without operator assistance, you can register with your phone number on-line to receive an instant automatic reminder. You can also join the conference call with operator assistance by dialling 1-888-390-0620 a few minutes prior to the conference call scheduled start time.

A replay of the conference call will be available from 1 p.m, Wednesday, June 7, 2023, until midnight, Wednesday, June 14, 2023, by dialing 1-888-259-6562, followed by the access code 020433, followed by the number sign.

The conference call (audio) will also be available on-line. Members of the media are invited to join in listening mode.

Annual meeting of shareholders for the fiscal year ended Jan. 31, 2023

ADF Group is holding its annual meeting of shareholders on June 7, 2023, at 11 a.m. EST, which will also be available by way of a webcast available on-line.

About ADF Group Inc.

ADF Group is a North American leader in the design and engineering of connections, fabrication, including the application of industrial coatings, and installation of complex steel structures, heavy steel built-ups, as well as in miscellaneous and architectural metals for the non-residential infrastructure sector.

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