ADF GROUP WINS NEW MAJOR CONTRACTS WORTH A TOTAL OF $90 MILLION

    (All amounts are in Canadian dollars unless otherwise noted.)

    TERREBONNE, QC, June 7, 2022 /CNW Telbec/ - The management of ADF GROUP INC. ("ADF" or the "Corporation") (TSX: DRX), a North American leader in the fabrication of steel superstructures, is pleased to announce the signing of new major contracts in the automotive sector in the U.S. Midwest region, worth a total of $90.0 million.

    These new orders consist in the fabrication, including the supply of raw materials (steel) and industrial coating, as well as the design and engineering of connections and the delivery of steel structures used in the construction of new large surface industrial facilities.

    Fabrication work on these new high tonnage projects will begin in the coming weeks at ADF's Terrebonne plant, and is scheduled to extend until the first quarter of the fiscal year ending January 31, 2024.

    Mr. Jean Paschini, Chairman of the Board of Directors and Chief Executive Officer, pointed out that these new projects are subject to very aggressive completion schedules, and added "recently commissioned at ADF's Terrebonne plant, our brand new fully robotic fabrication line, which is unique in its kind in North America, will be the focal point in the fabrication process of these new steel structures, in interaction with our expert production and engineering teams."

    Mr. Paschini, added that "new robotics and increased automation are unequivocally the next logical step in our future development, and for this, I would like to the underline the contribution of the members of our Board of Directors who share our vision for the future and know the importance of investing in our infrastructure, for ADF Group's sustainable development. The signing of these new contracts reflects the relevancy of our $30 million investment program, which aims to further increase our productivity level, our annual fabrication capacity, and strengthen our competitive position. With the support of our Board of Directors, we have taken concrete and necessary steps to be able to achieve our long-term growth objectives."

    The Corporation's backlog stood at $373.1 million as at January 31, 2022, excluding the new contracts announced today.

    Disclosure of the results for the first quarter ended April 30, 2022 and Conference Call

    The Corporation will publish the results for its first quarter ended April 30, 2022, on June 8, 2022 at 7:00 a.m. (EST).

    In addition, an investor conference call will be held on June 8, 2022 at 10 a.m. (EST) to discuss results for the first quarter ended April 30, 2022.

    To take part in the conference call, dial 1 (888) 390-0620 a few minutes prior to the conference call scheduled start time. A replay of this conference call will be available from 1:00 p.m. on June 8, 2022, until midnight on Wednesday, June 15, 2022, by dialing 1 (888) 259-6562, followed by access code 613618 #.

    The conference call (audio) will also be available at www.adfgroup.com. Members of the media are invited to listen in.

    ANNUAL GENERAL MEETING OF SHAREHOLDERS FOR THE FISCAL YEAR ENDED JANUARY 31, 2022

    ADF Group Inc. will hold its Annual General Meeting of Shareholders via live webcast, on Wednesday, June 8, 2022, at 11 a.m. (EST) available at https://produceredition.webcasts.com/starthere.jsp?ei=1535918&tp_key=d894e14b3b

    Shareholders are encouraged to vote on the matters before the meeting by proxy and to view the meeting online by way of a live webcast. Shareholders will be able to submit questions to management of the Corporation through the webcast at any time and at the conclusion of the Meeting. To this end, a dialogue box will be available at the bottom of the screen allowing registered shareholders to write their questions.

    About ADF Group Inc. | ADF Group Inc. is a North American leader in the design and engineering of connections, fabrication, including the application of industrial coatings, and installation of complex steel structures, heavy steel built-ups, as well as in miscellaneous and architectural metals for the non-residential infrastructure sector. ADF Group Inc. is one of the few players in the industry capable of handling highly technically complex mega projects on fast-track schedules in the commercial, institutional, industrial and public sectors. The Corporation operates two fabrication plants and two paint shops, in Canada and in the United States, and a Construction Division in the United States, which specializes in the installation of steel structures and other related products.

    Forward-Looking Information | This press release contains forward-looking statements reflecting ADF's objectives and expectations. These statements are identified by the use of verbs such as "expect" as well as by the use of future or conditional tenses. By their very nature these types of statements involve risks and uncertainty. Consequently, reality may differ from ADF's expectations.

    SOURCE ADF Group Inc.

    Jean Paschini, Chairman of the Board of Directors and Chief Executive Officer, Jean-François Boursier, CPA, Chief Financial Officer, Telephone: (450) 965-1911, Website: www.adfgroup.com