BOYD GROUP SERVICES INC. - BUSINESS ACQUISITION REPORT

Boyd Group Services Inc. has completed a significant business acquisition, purchasing JHCC Holdings Parent, LLC and its subsidiaries for US$1.3 billion. JHCC operates 258 collision repair centers across the United States. The acquisition was financed through a combination of equity from an IPO, senior unsecured notes, and draws on revolving credit facilities. Pro forma financial statements indicate that this acquisition, had it occurred at the beginning of 2025, would have resulted in total assets of $4,241,951 and total equity of $1,712,161. Sales for the pro forma combined entity reached $3,888,896, with a net earning of $7,491. The report includes detailed pro forma adjustments for purchase price allocation, transaction costs, and the integration of JHCC's financial data, noting differences between IFRS and US GAAP. The acquisition is expected to create synergies and growth opportunities for Boyd Group Services Inc.