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Revenues (US$ millions) Adjusted EBITDA (US$ millions) 2,344 185 2,110 1,852 152 1,617 1,379 115 93 62 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 Adjusted EPS (US$) Financial Leverage (Expressed in terms of net debt/EBITDA) 1.9 2.15 1.8 1.8 1.4 1.64 1.2 1.04 0.60 0.76 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 Revenue by Geography Revenue by Geography United United 59% States 59% States 15% Canada 15% Canada Australia/ 10% Europe 10% New Zealand Australia/ 10% New Zealand 5% Asia 5% Asia 10% Europe Latin Latin 1% America 1% America Financial Highlights About FirstService Corporation FirstService Corporation is a global leader in the rapidly growing FirstService generates more than US$2.3 billion in annual real estate services sector, one of the largest markets in the revenues and has more than 24,000 employees worldwide. With RevenuesRevenues (US$ millions) (US$ millions) AdjustedAdjusted EBITDA EBITDA (US$ millions) (US$ millions) world. FirstService manages more than 2.5 billion square feet of significant insider ownership and an experienced management residential and commercial properties through its three industry- team, FirstService has a long-term track record of creating value 2,3442,344 185 185 leading service platforms: and superior returns for shareholders since becoming a publically 2,110 2,110 listed company in 1993. The common shares of FirstService 1,852 1,852 152 152 • Colliers International – one of the largest global players in trade on the NASDAQ under the symbol “FSRV” and on the Toronto 1,617 1,617 commercial real estate services; 1,379 1,379 115 115 Stock Exchange under the symbol “FSV”. More information is 93 93 • FirstService Residential – North America’s largest manager available at www.firstservice.com. 62 62 of residential communities; and • FirstService Brands – one of North America’s largest providers of essential property services delivered through individually branded franchise systems and company-owned operations. 20092009 2010 20102011 20112012 20122013 2013 20092009 2010 20102011 20112012 20122013 2013 AdjustedAdjusted EPS (US$) EPS (US$) FinancialFinancial Leverage Leverage (Expressed (Expressed in terms of in net terms debt/EBITDA) of net debt/EBITDA) 1.9 1.9 Why Invest in FirstService? $2.8M+ 2.15 2.15 1.8 1.8 1.8 1.8 1.4 1.4 1.64 1.64 1.2 1.2 $100K Invested 1.04 1.04 Corporate Information 0.60 0.600.76 0.76 in 1995 is now 20% CAGR Head Office, Canada 1140 Bay Street, Suite 4000 $100K Toronto, Ontario worth $2.8M+ 1995 2013 20092009 2010 20102011 20112012 20122013 2013 20092009 2010 20102011 20112012 20122013 2013 M5S 2B4 Phone: 416.960.9500 Leader in Global Real Estate Services Proven Business Model • $2.3+ billion in revenues across three real estate (US$ thousands, except per share amounts) Year ended December 31 Head Office, United States • Essential services with highly recurring revenue streams services platforms 2013 2012 2011 2010 2009 1815 Griffin Road • Partnership philosophy aligns business leaders with Dania Beach, Florida • Real estate is one of the world’s largest markets creating shareholders Operations 33004 multiple growth opportunities Revenues $ 2,343,634 $ 2,110,466 $ 1,851,968 $ 1,617,300 $ 1,378,519 • Differentiated services drive internal growth complemented Operating earnings 90,234 80,348 56,217 46,731 (16,966) • Market leading brands, including Colliers International and by strategic acquisitions to expand service platforms Net earnings (loss) from continuing operations 47,640 42,217 76,925 17,477 (40,386) FirstService Residential Net (loss) earnings from discontinued operations (5,997) (1,328) 22,878 24,979 23,677 Registrar and Transfer Agent • Proven 18-year track record of performance in building Net earnings (loss) 41,643 40,889 99,803 42,456 (16,709) Canada - TMX Equity Transfer Services Strong Cash Flow & Balance Sheet shareholder value • Strong cash flows, low CAPEX and highly variable costs Financial Position Phone: 416.361.0930 Total assets $ 1,443,511 $ 1,317,910 $ 1,233,718 $ 1,129,541 $ 1,009,530 E-mail: [email protected] • Quarterly dividends paid on common shares Long-term debt 372,794 337,205 316,415 240,740 235,994 Three Engines for Diversified Growth Convertible debentures - 77,000 77,000 77,000 77,000 • Low leverage U.S. co-transfer agent - Registrar and • Colliers International, one of the largest global players in Shareholders’ equity 249,049 244,153 246,522 201,331 166,034 • Ample capital and liquidity to finance growth initiatives Transfer Company commercial real estate services Earnings Data • FirstService Residential, North America’s largest manager Adjusted EBITDA1 $ 185,461 $ 152,263 $ 115,317 $ 92,942 $ 61,646 Phone: 1.800.368.5948 of residential communities Successful Track Record and Stable, Adjusted EPS2 2.15 1.64 1.04 0.76 0.60 E-mail: [email protected] Diluted net (loss) earnings per common share • FirstService Brands, one of North America’s largest Committed Executive Team from continuing operations (0.46) (0.08) 1.35 (0.71) (2.67) providers of essential property services through individually • $l00,000 invested in 1995 is worth $2.8+ million today Diluted weighted average Stock Exchange Listing branded franchise systems and company-owned operations common shares outstanding (thousands) 33,262 30,376 30,551 30,367 29,516 • 20% CAGR over l8 years Cash dividends per commom share $ 0.20 $ - $ - $ - $ - NASDAQ Global Select Market – FSRV • Significant insider ownership, and xecutivee and operating Toronto Stock Exchange – FSV World Leader in Property team tenure Preferred Share Data Management Number outstanding (thousands) - 5,231 5,623 5,772 5,772 FirstService common shares are included 2013 Cash dividends per preferred share $ 0.4375 $ 1.75 $ 1.75 $ 1.75 1.75 Annual Report in the S&P/TSX Composite Dividend Index • 45% of revenue from management contracts Summary Notes • 2.5+ billion square feet of residential and commercial property 1. Adjusted EBITDA is defined as net earnings from continuing operations before income tax, interest, depreciation, amortization, goodwill impairment charges, other (income) under management expense, acquisition-related items, stock-based compensation expense, cost containment expense and reorganization charges. 2. Adjusted earnings per common share is defined as diluted net (loss) earnings per common share from continuing operations, adjusted for the effect, after income tax, of • $7.5 billion of expenditures administered annually at managed non-controlling interest redemption increment, amortization, goodwill impairment charges, acquisition-related items, stock-based compensation expense, cost containment expense, reorganization charges and deferred income tax asset valuation allowances. www.FirstService.com properties RevenueRevenue by Geography by Geography RevenueRevenue by Geography by Geography United United United United 59%59States% States 59%59States% States 15%15Canada% Canada 15%15Canada% Canada Australia/Australia/ 10%10Europe% Europe 10%10New% ZealandNew Zealand Australia/Australia/ 10%10New% ZealandNew Zealand 5%5Asia% Asia 5%5Asia% Asia 10%10Europe% Europe Latin Latin Latin Latin 1%1America% America 1%1America% America $2.8M+$2.8M+ $100K$100K Invested Invested in 1995in 1995 is now is now 20%20% CAGR CAGR worthworth $2.8M+ $2.8M+ $100K$100K 1995 1995 2013 2013 Revenues (US$ millions) Adjusted EBITDA (US$ millions) 2,344 185 2,110 1,852 152 1,617 1,379 115 93 62 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 Adjusted EPS (US$) Financial Leverage (Expressed in terms of net debt/EBITDA) 1.9 2.15 1.8 1.8 1.4 1.64 1.2 1.04 0.60 0.76 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 Revenue by Geography Revenue by Geography United United 59% States 59% States 15% Canada 15% Canada Australia/ 10% Europe 10% New Zealand Australia/ 10% New Zealand 5% Asia 5% Asia 10% Europe Latin Latin 1% America 1% America Financial Highlights About FirstService Corporation FirstService Corporation is a global leader in the rapidly growing FirstService generates more than US$2.3 billion in annual real estate services sector, one of the largest markets in the revenues and has more than 24,000 employees worldwide. With RevenuesRevenues (US$ millions) (US$ millions) AdjustedAdjusted EBITDA EBITDA (US$ millions) (US$ millions) world. FirstService manages more than 2.5 billion square feet of significant insider ownership and an experienced management residential and commercial properties through its three industry- team, FirstService has a long-term track record of creating value 2,3442,344 185 185 leading service platforms: and superior returns for shareholders since becoming a publically 2,110 2,110 listed company in 1993. The common shares of FirstService 1,852 1,852 152 152 • Colliers International – one of the largest global players in trade on the NASDAQ under the symbol “FSRV” and on the Toronto 1,617 1,617 commercial real estate services; 1,379 1,379 115 115 Stock Exchange under the symbol “FSV”. More information is 93 93 • FirstService Residential – North America’s largest manager available at www.firstservice.com. 62 62 of residential communities; and • FirstService Brands – one of North America’s largest providers of essential property services delivered through individually branded franchise systems and company-owned operations. 20092009 2010 20102011 20112012 20122013 2013 20092009 2010 20102011 20112012 20122013 2013 AdjustedAdjusted EPS (US$) EPS (US$) FinancialFinancial Leverage Leverage (Expressed (Expressed in terms of in net terms debt/EBITDA) of net debt/EBITDA)