AIF Altus Group Limited

Altus Group Limited (“Altus Group” or the “Company”) (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry, is pleased to announce that it has closed its previously announced bought deal financing (the “Offering”). A total of 2,783,000 common shares (the “Common Shares”) were sold pursuant to the Offering at a price of $62.00 per Common Share (the “Offering Price”) for aggregate gross proceeds to Altus Group of $172,546,000, including the full exercise of the underwriters’ over-allotment option to purchase an additional 363,000 Common Shares at the Offering Price. The Company intends to use the net proceeds of the Offering to fund the Company’s growth initiatives and for working capital and other general corporate purposes.

The Offering was led by TD Securities Inc. and BMO Capital Markets as the joint bookrunners, together with a syndicate of underwriters consisting of National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp., CIBC World Markets Inc., Cormark Securities Inc., HSBC Securities (Canada) Inc. and Stifel Nicolaus Canada Inc.

The Common Shares were offered pursuant to a short form prospectus dated September 27, 2021, filed in each of the Provinces and Territories of Canada and were offered for sale in the United States to Qualified Institutional Buyers (as defined in Rule 144A under the United States Securities Act of 1933, as amended (the "1933 Act") by way of private placement pursuant to an exemption from the registration requirements of the 1933 Act. A copy of the prospectus is available under the Company's profile on SEDAR at www.sedar.com.

The securities offered have not been and will not be registered under the 1933 Act, as amended, or applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

About Altus Group

Altus Group Limited is a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Commercial Real Estate Consulting, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,600 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include many of the world’s largest commercial real estate industry participants. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the Toronto Stock Exchange under the symbol AIF.

For more information, please visit www.altusgroup.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Camilla BartosiewiczVice President, Investor Relations(416) 641 – 9773camilla.bartosiewicz@altusgroup.com

Forward-Looking Information

Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “plan”, “would”, “could” and other similar terminology. All of the forward-looking information in this press release is qualified by this cautionary statement.

Forward-looking information includes, but is not limited to, information that relates to Altus Group’s objectives, growth initiatives, strategies and intentions, and future financial and operating performance and prospects, including expectations as to the use of proceeds from the Offering. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Altus Group at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that Altus Group identified and applied in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to: the successful execution of its business strategies and growth initiatives; consistent and stable economic conditions or conditions in the financial markets; consistent and stable legislation in the various countries in which Altus Group operates; no disruptive changes in the technology environment; the opportunity to acquire accretive businesses; the successful integration of businesses; and the continued availability of qualified professionals. The risks, uncertainties, contingencies and other factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: the general state of the economy; the continuing impacts of the COVID-19 pandemic; competition in the industry; ability to attract and retain professionals; integration of acquisitions; dependence on oil and gas sector; dependence on Canadian multi-residential market; customer concentration; currency risk; interest rate risk; reliance on larger software transactions with longer and less predictable sales cycles; success of new product introductions; ability to respond to technological change and develop products on a timely basis; ability to maintain profitability and manage growth; revenue and cash flow volatility; credit risk; protection of intellectual property or defending against claims of intellectual property rights of others; weather; fixed-price and contingency engagements; operating risks; performance of obligations/maintenance of client satisfaction; appraisal mandates; legislative and regulatory changes; the risk of future legal proceedings; insurance limits; income tax matters; ability to meet solvency requirements to pay dividends; leverage and restrictive covenants; unpredictability and volatility of Common Share price; capital investment; and the issuance of additional Common Shares diluting existing shareholders’ interests, as well as those described in Altus Group’s publicly filed documents, including the most recent annual information form dated March 30, 2021, which are available on SEDAR at www.sedar.com. These risks, uncertainties, contingencies or other factors should be considered carefully and readers of this press release should not place undue reliance on forward-looking information. Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. The information in this press release, including such forward-looking information, is made as of the date of this press release and Altus Group does not assume any obligation to update or revise any forward-looking information after the date of this press release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law. Additionally, Altus Group undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, its financial or operating results, or its securities.