Mr. Marcel Bourassa reports

SAVARIA CORPORATION COMPLETES $92 MILLION EQUITY OFFERINGS OF COMMON SHARES

Savaria Corp. has completed its previously announced issue and sale of common shares pursuant to a public offering and a concurrent private placement with CDPQ for aggregate gross proceeds to the corporation of $92,029,325, which included the full exercise of the overallotment option granted to the underwriters of the offering and the additional subscription option granted to CDPQ. Marcel Bourassa, as well as his children Sebastien, Alexandre and Marie-Pierre, all of whom are actively involved in Savaria, and his brother Jean-Marie Bourassa, a director of Savaria, have participated in the offering by purchasing, collectively, $3,499,981 worth of common shares, representing 3.8 per cent of the common shares issued pursuant to the equity offerings.

The offering was completed by way of a short form prospectus dated Sept. 15, 2023, in all of the provinces of Canada by a syndicate of underwriters led by National Bank Financial Inc., co-led by Desjardins Securities Inc., Scotiabank and TD Securities Inc., and which included Cormark Securities Inc., Raymond James Ltd., Stifel Nicolaus Canada Inc., iA Private Wealth Inc. and PI Financial Corp.

The total gross proceeds from the offering to the corporation were $63,264,950 and the total gross proceeds from the concurrent private placement to the corporation were $28,764,375.

The total net proceeds of the equity offerings will be used to reduce indebtedness under the corporation's existing revolving credit facility, thereby providing financial flexibility to finance growth initiatives, and for general corporate purposes.

"We are very pleased with the success of this equity financing, which will provide further flexibility to finance Savaria's growth in the years to come. On behalf of Savaria, I would like to thank our investors for their continued support," stated Marcel Bourassa, Savaria's president and chief executive officer.

About Savaria Corp.

Savaria is a global leader in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts, and ceiling lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients. In addition, Savaria converts and adapts vehicles for personal and commercial uses. Savaria operates a sales network of dealers worldwide and direct sales offices in North America, Europe (the United Kingdom, Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic), Australia and China. Savaria employs approximately 2,250 people globally, and its plants are located across Canada, the United States, Mexico, Europe and China.

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