Q3SHAWCOR LTD. ANNOUNCES THIRD QUARTER 2020 RESULTS • Third quarter 2020 revenue was $268 million, 32% lower than the $394 million reported in the third quarter of 2019. • Adjusted EBITDA1 in the third quarter of 2020 was $17.8 million, 58% lower than the $42.4 million reported in the third quarter of 2019. • Net loss2 in the third quarter of 2020 was $18.3 million (or loss per share of $0.26 diluted) compared with a net income of $6.5 million (or $0.09 earnings per share diluted) in the third quarter of 2019. Excluding the impact of restructuring cost and the adjustment for Argentina hyperinflationary accounting, adjusted net loss1 in the third quarter of 2020 was $11.2 million (or adjusted loss per share1 of $0.16) compared with adjusted net income1 of $6.0 million (or $0.09 adjusted earnings per share1 ) in the third quarter of 2019. • The Company’s order backlog was $542 million at September 30, 2020, compared to the backlog of $553 million at June 30, 2020.