Mr. Jim Hannon reports

ALTUS GROUP COMPLETES THE SALE OF ITS PROPERTY TAX BUSINESS TO RYAN, LLC

Altus Group Ltd. has closed the sale of its global property tax business to Ryan LLC for total cash consideration of $700-million, subject to customary postclosing adjustments.

"This transaction accelerates our transformation into a pure-play software, data and analytics platform," said Jim Hannon, Altus Group chief executive officer. "As we have previously announced, we will use the net proceeds to pay down debt to targeted ratios, invest in innovation, return capital to shareholders and restructure corporate overhead. Our strengthened balance sheet enables us to continue evaluating high-quality strategic acquisitions. And most importantly, we are very pleased that our property tax colleagues are joining Ryan, a global leader in property tax solutions. We look forward to their continued success at Ryan as they become valued clients of our data and analytics solutions."

About Altus Group Ltd.

Altus Group is a leading provider of asset and fund intelligence for commercial real estate. The company delivers intelligence as a service to its global client base through a connected platform of industry-leading technology, advanced analytics and advisory services. Trusted by the largest commercial real estate leaders, Altus Group's capabilities help commercial real estate investors, developers, lenders and advisers manage risks and improve performance returns throughout the asset and fund life cycle. Altus Group is a global company headquartered in Toronto, with approximately 1,900 employees across North America, EMEA (Europe, the Middle East and Africa) and Asia-Pacific.

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