Elevate Service Group Reports Record Q2-2026 Revenue of $20.5 Million as Operating Platform Continues to Scale

Elevate Service Group Inc. (TSXV: SERV) (FSE: Y19) (" Elevate " or the " Company ") is pleased to announce its financial results for the fiscal quarter ended June 30, 2026. Elevate delivered a significant step-change in scale during the second quarter, generating revenue of $20.5 million, compared with $7.6 million in Q1-2026, as the Company continued to execute its acquisition and integration strategy. Q2-2026 included partial-period contributions from three strategic acquisitions completed during the quarter: Think Green Solutions Inc. (" Think Green ") and JJ&A Mechanical Ltd. (" JJ&A "), both completed on April 15, 2026, and TFI Food Equipment Solutions (" TFI "), completed on May 6, 2026. Had all three acquisitions been completed on April 1, 2026, pro forma Q2-2026 revenue would have been $24.6 million. The Company has filed its quarterly financial statements, related management discussion and analysis (" MD&A ") and accompanying CEO and CFO certifications under its profile on SEDAR+. Key Financial Highlights Q2-2026 total revenue of $20.5 million, representing 170% growth from Q1-2026 revenue of $7.6 million. Pro forma Q2-2026 revenue would have been $24.6 million had TFI, Think Green and JJ&A all been acquired on April 1, 2026, highlighting the expanded scale of the operating platform following the three acquisitions completed during the quarter. Consolidated gross profit of $6.9 million, representing a gross margin of 33.8%. Q2-2026 Adjusted EBITDA (1) of $1.9 million, after adjusting reported EBITDA for acquisition-related transaction costs, non-cash share-based compensation and certain other non-recurring items that management does not consider indicative of ongoing operating performance. Adjusted EBITDA (1) margin was 9.3% for Q2-2026. Q2-2026 loss from operations of $0.9 million, primarily reflecting non-cash share-based compensation, amortization of acquired intangible assets, acquisition-related transaction costs and professional fees. Key Operating Business Highlights Completed the acquisition of Think Green Solutions on April 15, 2026, adding a complementary LED lighting supply and service capability to Elevate's growing facilities services platform. Completed the acquisition of JJ&A Mechanical on April 15, 2026, expanding Elevate's mechanical service capabilities and strengthening the Company's operating presence in British Columbia. Completed the acquisition of TFI Food Equipment Solutions on May 6, 2026, significantly expanding Elevate's national service footprint and building a leadership position in commercial restaurant equipment distribution and servicing, supported by three exclusive distribution partnerships, over 70 field service technicians and access to thousands of customer locations across major foodservice and retail brands. Strengthened the Company's balance sheet and acquisition capacity subsequent to quarter-end through an upsized $10.0 million bought deal equity offering and an announced $25.0 million acquisition credit facility, which remains on track to close in Q3-2026. "Q2-2026 was a milestone quarter for Elevate and demonstrated the pace at which we are building the platform," commented Paul Bissett, Chief Executive Officer. "Revenue increased to $20.5 million from $7.6 million in Q1, while pro forma Q2 revenue reached $24.6 million following the three acquisitions completed during the quarter. More importantly, we materially expanded our capabilities, geographic reach and field-service infrastructure. We believe we are building the foundation for a much larger national facilities management and essential commercial services platform." "Our strategy remains centered on disciplined capital allocation and building long-term shareholder value," stated Romeo Di Battista Jr., Executive Chairman. "The recently completed $10 million equity financing, together with our announced $25 million acquisition credit facility, pr...