Mr. Scott Patterson reports

FIRSTSERVICE DECLARES 11% INCREASE TO QUARTERLY CASH DIVIDEND

FirstService Corp.'s board of directors has approved an 11-per-cent increase in the quarterly cash dividend on the outstanding common shares of the company over the previous 20.25 U.S. cents per common share and declared a quarterly dividend of 22.5 U.S. cents per common share. The dividend is payable on April 11, 2023, to holders of common shares of record at the close of business on March 31, 2023.

The company's dividend will be 90 U.S. cents on an annualized basis, up from 81 U.S. cents during the past year. This distribution represents the company's eighth consecutive year of at least 10-per-cent annual dividend growth, resulting in more than a doubling of its dividend over that period. FirstService's ability to drive long-term earnings and free cash flow growth while maintaining a conservative balance sheet are cornerstones of the company's successful financial record and reinforce the approval of the increased dividend.

The dividend on common shares is an eligible dividend for Canadian income tax purposes.

About FirstService Corp.

FirstService is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America's largest manager of residential communities; and FirstService Brands, one of North America's largest providers of essential property services delivered through individually branded franchise systems and company-owned operations.

FirstService generates more than $3.5-billion in annual revenues and has approximately 25,000 employees across North America. The common shares of FirstService trade on the Nasdaq and the Toronto Stock Exchange under the symbol FSV, and are included in the S&P/TSX 60 Index.

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