On a run-rate basis, pro-forma Adjusted EBITDA1 is $167.6 million.

Basic adjusted EPS1 of $0.50 per share for FY22, increasing from $0.35 per share in FY21.

This represents growth of over $46.6 million compared to product bookings backlog in Q3-2022 of $432.8 million and is indicative of the impact of ongoing supply chain challenges. Product bookings backlog 2 increased to $479.4 million at the end of Q4-2022.Cash on hand was $159.9 million at the end of 2022, and borrowings under the Company’s global revolving credit facility (the “Global Credit Facility”) was $420.4 million.This IFRS based accounting policy change does not reflect any business or operational performance changes, and had a nil impact on reported gross profit, net income, and Adjusted EBITDA. See “software net-down change” below for a full description of the change in accounting policy and impact on reported FY22 and FY21 results. As a result of an IFRS 15 accounting policy change, reported net revenue was impacted by $356.8 million. Net revenue for FY22 under existing reporting treatment was $2.52 billion, consistent with the Company’s preliminary release, an increase of 64.7% over reported FY21 results.Adjusted EBITDA 1 of $142.9 million compared to $94.0 million in FY21 an increase of 52%.Organic gross revenue growth 1 for FY22 was 8.6% and gross profit organic growth 1 was 10.5%.

Gross Profit for FY22 was $550.8 million compared to $345.7 million in FY21 an increase of $205.1 million or 59%.

Gross revenue 1 for FY22 of $3.09 billion compared to $1.97 billion in FY21 an increase of $1.12 billion or 57%.

All figures are in Canadian dollars unless otherwise stated. (“ Converge” or “the Company”) (TSX:CTS) (FSE:0ZB) (OTCQX:CTSDF) is pleased to provide its financial results for the full fiscal year (“FY22”) and three-month period ended Decem(“Q4-22”). Ma– TORONTO, ONTARIO, CANADA and GATINEAU, QUÉBEC, CANADA – Converge Technology Solutions Corp.

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