ADF GROUP INC. ANNOUNCES THE AWARD OF $30 MILLION OF ADDITIONAL WORK TO ONE OF THE CONTRACTS RECENTLY SIGNED

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

TERREBONNE, QC, Jan. 6, 2023 /CNW Telbec/ - The management of ADF GROUP INC. ("ADF" or the "Corporation") (TSX: DRX), a North American leader in the fabrication of steel superstructures, announces additional work worth a total of $30 million to the scope of work on one of the fabrication contracts recently signed in the industrial sector in the United States.

Following a request from the client, the new work was added to ADF's initial contract and is part of the project's original completion schedule, which is expected to begin shortly and extend until the end of 2023. The additional work will be carried out by ADF's team in Terrebonne.

Mr. Jean Paschini, Chairman of the Board of Directors and Chief Executive Officer, said: "We are committed to ensuring the satisfaction of our customers and meeting their expectations. We welcome this opportunity to renew our business activities with our client, and proud of their confidence in ADF".

The Corporation's order backlog stood at $344 million as at October 31, 2022, excluding contracts announced in December 2022 and today's announcement.

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: [phone], Website: www.adfgroup.com