Quebecor Multi Voting Ord Shs Class A T.QBR.A

consolidated results for third quarter 2021

[Betteryear2]

MONTREAL, Nov. 4, 2021 /PRNewswire/ - Quebecor Inc. ("Quebecor" or the "Corporation") today reported its consolidated financial results for the third quarter of 2021. Quebecor consolidates the financial results of its wholly owned Quebecor Media Inc. ("Quebecor Media") subsidiary.

Third quarter 2021 highlights

• Revenues: $1.15 billion in the third quarter of 2021, up $36.5 million (3.3%) from the same period of 2020.
• Adjusted EBITDA:1 $520.3 million, up $6.9 million (1.3%) despite the $18.8 million unfavourable impact of the recognition of a onetime item in the Telecommunications segment in the third quarter of 2020.
• Net income attributable to shareholders: $173.1 million ($0.71 per basic share), an increase of $32.2 million ($0.15 per basic share).
• Adjusted income from continuing operating activities:2 $176.1 million ($0.73 per basic share), an increase of $3.0 million ($0.04 per basic share).
• Cash flows from operations:3 $365.8 million, a $19.7 million (5.7%) increase.
• The Telecommunications segment's revenues grew by $1.6 million (0.2%) in the third quarter of 2021 and its adjusted EBITDA decreased by $6.8 million (1.4%), reflecting the $18.8 million unfavourable impact of the recognition of a one-time item in the third quarter of 2020.
• Videotron Ltd. ("Videotron") significantly increased its revenues from Internet access services ($15.9 million or 5.6%) and mobile telephony ($13.4 million or 8.0%) in the third quarter of 2021.
• There was a net increase of 25,600 revenue-generating units4 ("RGUs") (0.4%) in the third quarter of 2021, including 40,900 connections (2.7%) to the mobile telephony service and 22,500 subscriptions (1.2%) to Internet access services.
• Quebecor announced, on July 29, 2021, an investment by Videotron of nearly $830.0 million in the acquisition of 294 blocks of spectrum in the 3500 MHz band across the country, including 175 blocks in four Canadian provinces outside Qubec: Ontario, Manitoba, Alberta and British Columbia.
• On August 17, 2021, Videotron launched Vrai, a new Qubec subscription platform that will meet the strong demand for unscripted lifestyle, documentary and entertainment content. Vrai offers thousands of hours of all-French, ondemand content, including more than 40 first-run exclusive original Qubec productions.
• Quebecor unveiled the new QUB digital platform, on September 15, 2021, which brings together all of its news and entertainment content in one place. Available on the Internet and via a mobile app, QUB is differentiated by its vast quantity of multisource, multiformat content, including text, music, video and audio, available live or on demand in a single, easyto navigate environment that promotes content discoverability.
• TVA Group Inc. ("TVA Group") announced, on July 16, 2021, that the studios of Canadian film and television industry leader MELS will be enlarged with the construction of MELS 4, with the support of the Government of Qubec and the City of Montral. The project will strengthen MELS' position on the market for foreign blockbusters and series.
• Videotron and TVA Sports announced, on September 9, 2021, a partnership with the Lions de TroisRivires, the new ECHL hockey team. The new Trois-Rivires arena will be named the "Colise Vidotron" and TVA Sports will be the exclusive official broadcaster of the Lions de TroisRivires' home games as they begin their first season.
• Event Management Gestev Inc., a subsidiary of the Sports and Entertainment Group, announced, on October 6, 2021, that it will be the new manager of the Cabaret du Casino de Montral. It will operate the acoustically outstanding multipurpose venue and present unique programming to its thousands of visitors.

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