Cervus Announces Second Quarter 2020 Results, $6 Million Increase in Adjusted Income Before Income Tax(1)

Financial Results

All financial information presented in this press release has been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are reported in Canadian dollars. This press release contains only selected financial and operational highlights and should be read in conjunction with Cervus’ unaudited condensed interim consolidated financial statements and related notes and Management’s Discussion and Analysis (“MD&A”), as at and for the three and six month periods ended June 30, 2020, which are available on SEDAR at www.sedar.com[2] and on the Company’s website at www.cervusequipment.com[3]. Additional information is contained in the Company’s filings with Canadian securities regulators, including the 2019 Annual Report and 2019 Annual Information Form, also available on SEDAR and the Company’s website.

Forward Looking Information

Information in this press release and in other filings with Canadian securities regulators and in other communications include forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). These statements include, but are not limited to, statements about the Company’s objectives, strategies and initiatives, financial performance expectations and other statements made herein, whether with respect to the Company’s businesses or the economies of the countries where the Company operates. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “planned”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases which state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will be taken”, “occur”, “be achieved”, or other similar expressions of future or conditional verbs.

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