ADF GROUP ANNOUNCES THE SIGNING OF A SERIES OF NEW CONTRACTS IN QUEBEC AND IN THE UNITED STATES TOTALLING $55.0 MILLION

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

TERREBONNE, QC, Sept. 24, 2024 /CNW/ - ADF GROUP INC. ("ADF" or the "Corporation") (TSX: DRX), a North American leader in the fabrication of steel superstructures, announces the signing of a series of new orders in Quebec and the U.S. Midwest totaling $55.0 million.

ADF Group announced in April 2023 and in December 2023 the award of the first and second phases of a major contract in the pharmaceutical sector in the Midwest region. As part of this contract, ADF's management announced today that it has reached another commercial agreement with its client for additional work, similar to the other contracts mentioned above announced in 2023, and which concerns the construction of the steel structure of an industrial-type building that is also part of the second phase. Fabrication work will begin in the coming months. This additional work will be carried out over a period of approximately eight months.

This series of new orders also included structural steel fabrication contracts in various regions of Quebec, all in the industrial sector.

The Corporation's order backlog stood at $ 402.3 million as at July 31, 2024, including some of the new orders announced today.

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 Statements | This press release contains forward-looking statements that reflect ADF's objectives and expectations. These statements are identified by words such as "expects" as well as by the use of future and conditional verb tenses and include, but are not limited to, the Corporation's intention to repurchase up to 3,000,000 Subordinate Voting Shares of the Corporation. By their nature, these statements involve risks and uncertainties. In particular, there can be no assurance that an agreement will be reached between the parties with respect to the proposed repurchase. Consequently, actual facts 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: [phone], Website: www.adfgroup.com