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Delta, BC, May 27, 2021 (T-Net) Avcorp Industries Inc. (TSX: AVP) today announced its financial results for the quarter ended March 31, 2021. All amounts are in Canadian currency unless otherwise stated. 2021 First Quarter Highlights First quarter 2021 revenue was $23,933,000 compared to $40,205,000 in 2020. 2021 revenue decreased by $16,272,000, in comparison to 2020. Revenue was affected by lower customer requirements due to the Coronavirus ( COVID-19 ). First quarter 2021 net income was $17,390,000 compared to net loss of $10,414,000 in 2020. The net income in the first quarter of 2021 was supported by the accommodation agreement. On March 12, 2021, the Company entered into a multiparty amended and restated Accommodation Agreement with a customer and Panta Canada B.V.

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