Comfort Systems USA Extends Debt Facility

Comfort Systems USA, Inc. (NYSE: FIX), a leading provider of mechanical services including heating, ventilation, air conditioning, plumbing, piping and controls, today announced that it has amended its existing senior debt facility to increase the credit commitment amount to $325,000,000 and to extend the term to February 22, 2021. Wells Fargo Bank, National Association will serve as Administrative Agent for the facility. BOKF, NA dba Bank of Texas was named Syndication Agent, and Capital One, N.A. and Branch Banking and Trust Company were named Co-Documentation Agents. The Company also welcomes SunTrust Bank to its core group of lenders.

Brian Lane, Comfort Systems USA’s President and Chief Executive Officer, said, “We are very pleased that our lenders have graciously provided us with additional capacity and flexibility as we continue to seek paths to return value to our stockholders. The facility complements our rock-solid balance sheet and continues to provide an advantage in an industry where owners and general contractors value partners with strong financial foundations.”

The credit commitment under the facility has increased from $250,000,000 to $325,000,000, and the facility has a new five-year term. The facility continues to provide advantageous credit costs, reasonable covenants, and overall flexibility for the Company. This amendment also includes additional flexibility with respect to acquisitions, dividends and stock buybacks.

Mr. Lane concluded, “This long-term facility will support our operations, fund continued future growth and strengthen our resources to continue returning cash to our stockholders.”

Comfort Systems USA^® is a premier provider of business solutions addressing workplace comfort, with 94 locations in 85 cities around the nation. For more information, visit the Company’s website at www.comfortsystemsusa.com.

Certain statements and information in this press release may constitute forward-looking statements regarding our future business expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” or other similar expressions are intended to identify forward-looking statements, which are generally not historic in nature. These forward-looking statements are based on the current expectations and beliefs of Comfort Systems USA, Inc. and its subsidiaries (collectively, the “Company”) concerning future developments and their effect on the Company. While the Company’s management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that it anticipates. All comments concerning the Company’s expectations for future revenue and operating results are based on the Company’s forecasts for its existing operations and do not include the potential impact of any future acquisitions. The Company’s forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company’s control) and assumptions that could cause actual future results to differ materially from the Company’s historical experience and its present expectations or projections. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: the use of incorrect estimates for bidding a fixed-price contract; undertaking contractual commitments that exceed the Company’s labor resources; failing to perform contractual obligations efficiently enough to maintain profitability; national or regional weakness in construction activity and economic conditions; financial difficulties affecting projects, vendors, customers, or subcontractors; the Company’s backlog failing to translate into actual revenue or profits; failure of third party subcontractors and suppliers to complete work as anticipated; difficulty in obtaining or increased costs associated with bonding and insurance; impairment to goodwill; errors in the Company’s percentage-of-completion method of accounting; the result of competition in the Company’s markets; the Company’s decentralized management structure; material failure to comply with varying state and local laws, regulations or requirements; debarment from bidding on or performing government contracts; shortages of labor and specialty building materials; retention of key management; seasonal fluctuations in the demand for mechanical systems; the imposition of past and future liability from environmental, safety, and health regulations including the inherent risk associated with self-insurance; adverse litigation results; an increase in our effective tax rate; an information technology failure or cyber security breach; and other risks detailed in our reports filed with the Securities and Exchange Commission.

For additional information regarding known material factors that could cause the Company’s results to differ from its projected results, please see its filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events, or otherwise.

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