Toronto - ABC Technologies Holdings Inc. (TSX: ABCT) ('ABC Technologies', 'ABC', or the 'Company'), a leading manufacturer and supplier of custom, highly engineered, technical plastics and lightweighting innovations to the North American light vehicle industry, announced results for the three months and fiscal year ended June 30, 2021 ('Q4 Fiscal 2021' and 'Fiscal 2021', respectively) and has declared a quarterly cash dividend of C$0.0375 per share. All amounts are shown in United States Dollars ('$'), unless otherwise noted.

Q4 Fiscal 2021 Highlights

Q4 Fiscal 2021 revenue more than doubled to $233.2 million from $82.0 million in the prior year period. * Revenue growth largely driven by resumption of automotive manufacturing operations after temporary shutdowns in Q4 Fiscal 2020 due to the COVID-19 pandemic, but was partially offset by the negative impacts of global semiconductor shortages in Q4 Fiscal 2021, which affected production levels at our OEM customers and are ongoing today. * Q4 Fiscal 2021 net loss of $11.7 million compared to a net loss of $46.2 million in Q4 Fiscal 2020. * Q4 Fiscal 2021 Adjusted EBITDA1,2 of $26.9 million, compared to a loss of $30.5 million in the prior year period with improvement primarily on account of above-mentioned revenue growth. * Q4 Fiscal 2021 Free Cash Flow1,5 of negative $17.1 million largely as a result of swings in working capital. * Dividend of C$0.0375 per share declared. * Strong performance attributable to ABC's operational and manufacturing excellence, despite frequent OEM customer production stoppages and ongoing supply chain disruptions, amidst robust underlying demand for consumer light vehicles. * Recognized by General Motors as winner of the Overdrive Award and named Supplier of the Year winner in 5 product lines. * Completed the previously announced sale by ABC Group Canada LP, an affiliate of funds managed by Cerberus Capital Management, L.P, of a majority stake in the Company to funds managed by Apollo Global Management, Inc. ('Apollo') for C$10.00 per share (the 'Apollo Transaction'), which closed on June 24, 2021.

Non-IFRS Measures and Key Indicators

This press release uses certain non-IFRS financial measures and ratios. Management uses these non-IFRS financial measures for purposes of comparison to prior periods, to prepare annual operating budgets, and for the development of future projections and earnings growth prospects. This information is also used by management to measure the profitability of ongoing operations and in analyzing our financial condition, business performance and trends. These measures are not recognized measures under IFRS, do not have a standardized meaning 6 prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. We use non-IFRS financial measures including Net Debt, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Free Cash Flow and Adjusted Free Cash Flow Conversion to provide supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when using IFRS financial measures. We believe that the presentation of these financial measures enhances an investor's understanding of our financial performance as these measures are widely used by investors, securities analysts and other interested parties.

Forward Looking Statements

Some of the information in this news release may contain forward-looking information or contain statements expressing such forward-looking information ('forward-looking statements' and collectively with the forwardlooking information expressed thereby, 'forward-looking information'). We may use words such as 'may', 'would', 'could', 'should', 'will', 'unlikely', 'expect', 'anticipate', 'believe', 'intend', 'planning', 'forecast', 'outlook', 'projection', 'estimate', 'target' and similar expressions suggesting future outcomes or events to identify forward-looking information.

Forward-looking information in this document includes, but are not limited to, statements relating to: any of the Company's actions made in response to or in connection with the COVID-19 pandemic, including with respect to: employee health and safety; potential adjustments to our production plans to align with our customers' production plans, governmental orders and legal requirements the ability to attract and retain the workforce required to maintain or grow the Company's operations in the context of the effects of COVID-19 pandemic on the workforce in certain markets in which the Company operates; the timing of program launches, the growth of the Company and pursuit of, and belief in, its strategies, the ramping up and launching of any potential new business, review of potential acquisitions of assets or companies; obligations to the Company's joint ventures' partners under the current joint venture arrangements; continued investments in the Company's business and technologies; our ability to finance future capital expenditures; ability to fund anticipated working capital needs; our ability to make any recommended or competitive bonus payments on reaching certain milestones; debt obligations and other commitments; the Company's views on its liquidity and operating cash flow and ability to deal with present or future economic conditions; the potential for fluctuation of operating results, and the payment of any dividends as well as other forward-looking statements. In evaluating forward-looking statements or forward-looking information, we caution readers not to place undue reliance on any forward-looking statement or forward-looking information expressed herein, and readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements, including the risk factors listed above as well as these and other risks and uncertainties as may be described in greater detail in the Company's public filings made with the Canadian Securities Administrators and publicly available on the Company's profile at www.sedar.com, or other factors that may fall outside any list of risks and uncertainties. We do not undertake to update any forward-looking information whether as a result of new information, future events or otherwise, or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required under applicable securities laws in Canada.

About ABC Technologies

ABC Technologies is a leading manufacturer and supplier of custom, highly engineered, technical plastics and lightweighting innovations to the North American light vehicle industry, serving more than 25 original equipment manufacturer customers globally through a strategically located footprint. ABC Technologies' integrated service offering includes manufacturing, design, engineering, material compounding, machine, tooling and equipment building that are supported by an experienced engineering team of approximately 600 skilled professionals and 6,150 employees worldwide. The Company offers six product groups: HVAC Systems, Interior Systems, Exterior Systems, Fluid Management, Air Induction Systems, and Flexible & Other.

Contact:

Investor

Nathan Barton

E: investors@abctech.com

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