Q1 2021 Adjusted EBITDA of $55 million represented an increase of 4% compared to last year. We have had a steady rebound in performance supported by our resilient business model and continued market recovery from the impacts of the COVID-19 pandemic. Tervita’s underlying business has demonstrated stable and steady improvement over the last three quarters, with Adjusted EBITDA excluding CEWS increasing 9% from Q3 2020 to Q4 2020 and 4% from Q4 2020 to Q1 2021.Adjusted EBITDA Margin excluding the Canada Emergency Wage Subsidy (“CEWS”) increased to 38%, compared to 30% in Q1 2020.Industrial Services Divisional EBITDA grew 83% compared to the prior year, driven by strong ferrous metals pricing, disciplined cost control, business optimizations and the acquisition of Main Line Industries Ltd. (“Main Line”). Generated strong Discretionary Free Cash Flow (“DFCF”) of $35 million in Q1 2021, up 40% compared to Q1 2020, resulting in a DFCF yield(1) of 15%. Net debt of $717 million decreased by $19 million since the end of Q4 2020, driven by our significant DFCF generation and reduced growth and expansion capital spending. Growth and expansion capital additions of $8 million in the quarter were largely related to the completion of Energy Services projects to increase water disposal capacity and growing the Industrial Services business. Maintenance capital additions were $7 million, a decrease of $1 million compared to the prior year.Entered into an arrangement agreement with SECURE Energy Services Inc. (“SECURE”), which provides for the combination of SECURE and Tervita creating a leading midstream infrastructure and environmental solutions business that is expected to provide enhanced free cash flow generation resulting from greater scale, sizeable cost synergies, and improved leverage, leading to superior returns for all investors.

CALGARY, AB, April 27, 2021 /CNW/ – Tervita Corporation (“Tervita” or the “Company”) (TSX: TEV) announced today the results for the three months ended March 31, 2021. All financial figures are in millions of Canadian dollars unless otherwise noted.

“Tervita’s strong performance to start the year demonstrates the upside in our Energy Services business and the stability and growth potential of our Industrial Services business. Our disciplined focus

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