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Press Release: Héroux-Devtek Reports Strong Third -2-

· 02/05/2021 07:00
Copyright CNW Group 2021_________________________ (1) These are non-IFRS measures. Please refer to the "Non-IFRS Measures" section at the end of this press release.

As a result, readers are advised that actual results may differ from expected results. Please see the Risk Management section in the Additional Information tab in the Corporation's MD&A for the third quarter ended December 31, 2020 for further details regarding the material assumptions underlying the forecasts and guidance. Such forecasts and guidance are provided for the purpose of assisting the reader in understanding the Corporation's financial performance and prospects and to present management's assessment of future plans and operations, and the reader is cautioned that such statements may not be appropriate for other purposes.

NON-IFRS MEASURES

Adjusted operating income, adjusted EBITDA, adjusted net income, adjusted earnings per share and free cash flow are financial measures not prescribed by International Financial Reporting Standards ("IFRS") and are not likely to be comparable to similar measures presented by other issuers. Management considers these to be useful information to assist investors in evaluating the Corporation's profitability, liquidity and ability to generate funds to finance its operations. Refer to Non-IFRS financial measures under Operating Results in the Corporation's MD&A for definitions of these measures and reconciliations to the most comparable IFRS measures.

ABOUT HÉROUX-DEVTEK

Héroux-Devtek Inc. (TSX: HRX) is an international company specializing in the design, development, manufacture, repair and overhaul of aircraft landing gear, hydraulic and electromechanical actuators, custom ball screws and fracture-critical components for the Aerospace market. The Corporation is the third-largest landing gear company worldwide, supplying both the defence and commercial sectors. Approximately 90% of the Corporation's sales are outside of Canada, including about 53% in the United States. The Corporation's head office is located in Longueuil, Québec with facilities in Canada, the United States, the United Kingdom and Spain.

SOURCE Héroux-Devtek Inc.

View original content: http://www.newswire.ca/en/releases/archive/February2021/05/c9322.html

/CONTACT:

H ux-Devtek Inc., St ane Arsenault, Vice President and Chief Financial Officer Tel.: 450-679-3330, IR@herouxdevtek.com; Investor Relations, Hugo Delorme, Tel.: 514-700-5550, ext. 555, hdelorme@mercureconseil.ca

/Web site: www.herouxdevtek.com

(END) Dow Jones Newswires

February 05, 2021 07:00 ET (12:00 GMT)