Driving Successful Digital Change
2020 Annual Review
Who we are
Alithya is a leader in strategy and digital transformation, with more than 2,000 professionals in Canada, the US and Europe. Combining technology acumen with a customer-driven approach, we have been deploying for over 25 years leading-edge digital solutions, services, and skills to meet the unique needs of our customers in a variety of industries.

Vision

Be recognized as a trusted advisor with solid expertise in strategy and digital technology.

Mission

Advise, guide and support our clients in their pursuit of innovation, excellence and the achievement of their business objectives through the optimal use of technologies.

Values
CREATIVITY
TRUST
RESPECT
PASSION
INTEGRITY
WELL-BEING
TSX: ALYA
NASDAQ: ALYA
What We Do
GUIDING OUR CLIENTS OF TODAY TOWARDS A BRIGHTER TOMORROW
Business Strategy
  • Strategic Consulting
  • Digital Transformation
  • Organizational Performance
Application Services
  • Digital Applications Development
  • Legacy Systems Modernization
  • Control/Software Engineering
  • Cloud and Infrastructure
Enterprise Solutions
  • Enterprise Resource Planning (ERP)
  • Corporate Performance Management (CPM/EPM)
  • Customer Relationship Management (CRM/CXM)
  • Human Capital Management (HCM)
Data and Analytics
  • Business Intelligence
  • Data Management
  • Artificial Intelligence and Machine Learning
  • Internet of Things (IoT)
Main Industries we Serve
Financial Services
Manufacturing
Energy
Transportation and Logistics
Telecommunications
Healthcare
Professional Services
Government
OUR INDUSTRY-FOCUSED SOLUTIONS

Our specialized IP products help customers do business in ways they haven’t considered.

Solutions that leverage Alithya’s range of proprietary applications using AI, machine learning, and deep learning techniques to increase productivity across industries.

Complete test automation platform designed for QA specialists to quickly create tests without needing deep technical skills, while guaranteeing software quality.

A cloud-based, HIPAA-compliant platform, built to help healthcare providers maximize supply management processes.

Solutions that help nuclear plants to generate maintenance performance reports and to provide insight into opportunities for streamlining maintenance.

Secure solution that facilitates distribution of medical results to healthcare facilities, and to centralized electronic health records.

OUR MAIN TECHNOLOGY PARTNERS

Reputable partners that we do business with share our goal of making our customers’ organizations more efficient.

2020 at a Glance
Key facts
THE THREE ACQUISITIONS IN F2020 provide us with additional expertise, while generating new cross-selling opportunities and synergies to better support our customers
REVENUES FROM HIGHER VALUE-ADDED SERVICES increased as a result of the implementation of our strategy to develop services related to digital transformation
THE LARGER SCALE of the company has allowed us to leverage resources, expertise, and expanded partnerships in order to attract an increasing number of new customers
THE HIRING OF MORE PERMANENT EMPLOYEES has helped to consolidate the technical expertise of our teams and to reduce operating costs
OUR AVAILABLE LIQUIDITY AND WORKING CAPITAL provide solid foundations that will enable us to continue to execute our strategic plan and to weather uncertain economic conditions

Alithya’s experts are deeply committed to achieving the goals of our artificial intelligence projects. In recent years, Alcoa has had the privilege of working with teams of impeccable integrity and professionalism. Alithya has always demonstrated excellent work organization and strong competencies in advanced analytics and data science architecture.

Year in review
Q1
  • Laid the foundations to complete the integration of the fiscal 2019 transformative US acquisition
  • Finalist in the “2019 Microsoft Dynamics 365 for Finance and Operations Partner of the Year Award”, with winners chosen from a field of more than 2,900 entrants from 115 countries
Q2
  • Achieved the prestigious “2019/2020 Inner Circle for Microsoft Business Applications Award” for the 14th year in a row, based on our sales achievements
  • Ranked 3rd on the “2019 Top 100 VARs List” for our accomplishments as a top value-added reseller for 2019 ERP and accounting software
  • Launched a new website that presents a more integrated overview of Alithya’s global service offerings
Q3
  • Acquired Matricis Informatique Inc., which expanded our expertise in the IoT and AI spaces
  • Acquired Travercent LLC, a leading US-based cloud-focused ERP consulting group specialized in the healthcare sector
  • Officially named an Amazon Web Services cloud technology partner
  • Won the Organization of Canadian Nuclear Industries’ “2019 Customer Service Excellence Award”
Q4
  • Acquired Askida, broadening our service offering of advanced application development testing and software quality assurance
  • Implemented company-wide Microsoft Dynamics 365, providing all of our operational teams with a single, unified CRM system
  • Rolled out Oracle’s ERP solution in the US as our primary system for finance, project accounting, human capital, and business reporting
Financial Highlights
RESULTS OVER THE LAST THREE YEARS

We selected and partnered with Alithya due to their food and beverage expertise, their proven track record of successful implementations, and their willingness to be candid in advising us what to do and what not to do. With Microsoft Dynamics 365, we can easily provide our team members with the right information, at the right time, to enable them to make better decisions, which gives us a significant competitive advantage.

F2020 REVENUE DIVERSIFICATION
Executive Letters

What is the Board's assessment of the execution and performance of Alithya’s 3-5 year strategy?

Alithya's management team has a clear understanding of the many issues related to our business sector. Alithya’s performance reflects the leadership and expertise of all of our employees and confirms our belief in our ability to achieve the goals of the strategic plan. When the plan was first released, we were aware of the magnitude of the task ahead in terms of positioning Alithya judiciously in the value chain and growing the company to an ideal size. The choice was inevitable in respect to enabling Alithya to continue to evolve and to face situations of unexpected proportions.

The confidence of the Board of directors in Alithya's overall strategy has been strengthened by the significant progress of the last fiscal year, both in terms of operational efficiency and effectiveness, and the constant monitoring of established orientations and strategies. All members of the Board, including myself, firmly believe that steps taken during the fiscal year will allow Alithya to achieve solid long-term performance, thus enabling the continuation of our accelerated growth plan for the benefit of our shareholders, our partners, and our professionals. We are all aligned in our commitment to executing the plan and delivering the successes that will make Alithya a North American leader in digital transformation.

What are the next steps in respect to the strategic plan?

We are managing a growing business, and thanks to the diversification and range of high value services offered by Alithya, we will prioritize and continue to strengthen our geographic presence, our expertise, our integrated services offer, and our positioning in the value chain. Doing so will allow us to pursue our development in market segments experiencing rapid growth, primarily that of the digital transformation of organizations.

We apply our plan with rigor and discipline, and we will continue to acquire companies whose culture and service offer align with ours, while ensuring the well-being of our professionals and their personal development. In that regard, the Board is delighted with the addition of the Matricis, Travercent, and Askida teams that have joined Alithya in the past fiscal year. During the acquisitions process, Alithya’s directors provided constant support to senior management to ensure that the objectives of our overall growth strategy were met. We also monitored post-acquisition activities in order to ensure the sustainable organic growth that our investors are seeking.

Fiscal 2021 will be marked by Alithya’s ability to navigate a new environment created by an international pandemic. Was Alithya ready to face this crisis? 

Over the years, Alithya has established itself in the digital transformation sector through rapid growth and remarkable adaptability. I have served as Chairman of the Board since 2011, and I am proud of the path that Alithya has taken to transform and consolidate its service offerings. Among other factors, that development has positioned us favorably to face the new economic reality. No doubt, this is a new chapter unfolding for businesses around the globe, but we believe that there will be even greater demand for digital solutions and trusted advisors with multidisciplinary teams. The situation that we are experiencing now will undoubtedly push our current and future customers to view transformation as a necessity, rather than as an intention. The Board believes that Alithya has the strong operational capacity and exceptional leadership necessary to continue being a trusted partner sought by companies looking to achieve their business goals.

The international pandemic that arose during the fourth quarter of the fiscal year provided insight into Alithya’s strengths at all levels, as well as the quality of relationships of trust that we have established with our customers and partners. Diversification of our services, our customers, and our regional presence has also emboldened Alithya to solidly face this crisis. On that note, my colleagues on the Board of directors join me in highlighting the remarkable work that has been accomplished at all levels of the organization to protect the health of our professionals and our customer relationships since the onset of this pandemic, while ensuring the sustainability of our business. Extraordinary meetings of the Board of directors have been organized with the executive team in order to identify winning conditions that will contribute to the success of our customers in a post-COVID-19 environment.

What initiatives has the company implemented to ensure greater diversity within its ranks?

Our goal is to represent the communities that we serve, which is why we are committed to representation of both men and women on the Board of directors, and to the complementary experience and expertise necessary for ensuring the Board’s optimal functioning. Our Board consists of nine members, including two women (22%), all of whom have exceptional qualities. We have also established a goal of achieving a minimum of 30% of women among our directors.

I would like to take this opportunity to highlight the arrival of Ms. Lucie Martel and Mr. James Renacci to our Board of directors. Lucie has established a long track record in strategic human resources management and labor relations, and she chairs the Human Capital and Compensation Committee. We also believe that a diverse range of skills, perspectives, and training contributes to more effective governance. Accordingly, we sought out James’ qualifications in order to strengthen our Board’s knowledge of the American market. Mr. Renacci has extensive experience in mergers and acquisitions in several sectors, as well as a deep understanding of the workings of the American public sector.

Final word

The Board and its committees have played a vital role in advising senior management in order to ensure that Alithya's objectives are met, while maintaining a balance of interests for shareholders, customers, and our professionals. I would like to take this opportunity to thank all of my fellow directors for their unwavering commitment, and for the tremendous quality of their contributions.

We also can’t ignore the incredible leadership of Alithya's management team, including its President and Chief Executive Officer, Paul Raymond. In recognition of his management and communications skills, Paul was honored with the « Investissement Québec 2020 Distinguished CEO Award », which is the most important distinction of business leaders in Quebec’s technology industry.

We also wish to express our sincere gratitude to our shareholders. Their loyalty and trust are essential to the accomplishment of our mission. Finally, we would like to say a big thank you to all of Alithya’s teams for their excellent work, their continued commitment, and their unwavering professionalism.

Turcotte_Pierre_chairman3442-1

INTERVIEW WITH THE CHAIR OF THE BOARD

Alithya has continued to build the scale and depth it requires in order to better serve its customers and to seize new business opportunities. Its strategy provides the means to remain solid, while ensuring an offering of services sought by its customers.
Read more

We have been partnering with Alithya on a large scale, multi-faceted implementation which is projected to have an unprecedented positive impact on the visibility, timeliness and accuracy of our internal and external financial reporting processes. They have been with us in the trenches through tasks large and small, deftly managing cross-modular issues and teams. Their guidance and transfer of knowledge has been invaluable in successfully working towards our financial reporting needs.”

As businesses face a great deal of uncertainty, what key benefits of Alithya’s growth strategy allow the company to remain optimistic?

A few years ago, we had the foresight to embark on a strategic journey to prepare Alithya for the next decade. The plan addressed our underlying belief that selective and continuous expansion was required to empower us to take on any transformation project, regardless of its size, location, or complexity. Since then, we have developed new markets in three different countries, we have diversified our customer base, and we have expanded our higher value-added service offerings, all of which strengthen our position in the current climate. Additionally, digital transformation will only gain momentum as a result of this crisis. Those who have already begun their transformation will accelerate their plans, while others will now recognize the urgency, and will look for the support of a trusted and experienced partner like Alithya.

What are some of the highlights of the past year in terms of strategic wins, and how do they align with Alithya’s growth plan?

The past year has been record-setting for us on numerous fronts, with contributions from our workforce of over 2,000 dedicated professionals helping to establish new records for total revenue, gross margins, and adjusted EBITDA. Furthermore, we completed the integration of our fiscal 2019 US acquisition, Edgewater Technology, while completing three new acquisitions of niche, high quality, value-added services companies that were immediately accretive to our business. We also leveraged cross-border capabilities to foster synergies from our new acquisitions that offer additional expertise to our rapidly growing customer base. Operationally, our successful rollout of Oracle Cloud ERP, and more recently Microsoft Dynamics CRM, have helped us to manage all areas of our business with great discipline, positioning us for a strong emergence from the COVID-19 crisis. Having implemented various financial measures to protect our balance sheet, we finished the year in an excellent financial position, and all of the aforementioned strategic wins will help us to resume and accelerate our strategic growth plan moving forward.

What business priorities are key for Alithya in fiscal 2021?

It’s no longer a question of whether or not businesses ‘want’ to transform, but rather a question of how fast they can reach their goals in the current environment and ahead of the next storm. Accordingly, our main priority is to be the trusted advisor to our customers as they transition through challenging situations in a rapidly evolving digital world. In our highly fragmented IT industry, it’s important that we distinguish ourselves through our expertise. We intend to stay ahead of the curve through intelligent growth and constant improvement, inspiring confidence in our customers as an agile partner that they can trust. Our strategic framework for accomplishing that is clear, and it’s a plan that we must embrace wholeheartedly. Our business priorities remain focused on fostering best-in-class expertise, providing integrated, high-value offerings that position us judiciously in the value chain, and ensuring a strategic geographic presence. As we continue to prioritize organic growth, we will also continue to actively pursue opportunities in our geographic markets, but with a patient and disciplined approach that will ensure that any such transactions create value for our customers and our shareholders.

Can you elaborate on the importance of having been a trusted advisor during a pandemic such as the one we are experiencing?

“Resilience” is the first word that comes to mind in terms of Alithya’s response to this crisis. Since day one, our Business Continuity Plan has focused on protecting our people, protecting our clients, and protecting our company. Internal and external crisis management centers were established early on, and actions taken on all three fronts on a daily basis have allowed us to focus on our short-term challenges without compromising our long-term strategy. Resilience is a critical part of optimizing success and productivity in the workplace, and to that end we have made all of the necessary accommodations required to support the health and well-being of our people, and we will continue to do so. Resilience has also been the key to successfully migrating a global workforce to working from home in response to a growing threat, while maintaining a proactive attitude and assisting our customers who were going through similar challenges.

For our customers, resilience translates into “reliability”, and we have proved our agility to quickly intervene in extraordinary circumstances to ensure the continuity of our activities. Through our Crisis Management Center of Expertise, we have supported all our clients, providing them with direct and centralized access to our multidisciplinary team. Access to fast and effective advice has helped our customers ensure the pursuit of their businesses, while preparing for the post-COVID-19 landscape. Like Alithya, many of our customers provide essential services, so they have been forced to adapt to teleworking through remote cloud environments. As a leader in migrating customers to cloud environments as part of a digital transformation strategy, Alithya was well-positioned to accompany them.

How do you keep your team engaged and effective during a crisis like this?

Since the crisis began, we have been very transparent and forthcoming with our people. They understand and support all our pandemic related decisions. Through our web-based tool, we continuously survey and measure employee engagement and satisfaction in real-time, and I am pleased to report that our engagement and satisfaction KPIs have been increasing since this crisis began. In fact, we’ve established new records in several categories and in overall employee engagement, while receiving a 99% approval rating on our handling of the crisis. We know that there is still room for improvement, and we shall endeavor to do more.

How is Alithya building a better workplace for the future?

Undoubtedly, the current situation has reshaped the way that we work. Nevertheless, we still believe that having offices where our employees can meet and deliver solutions to our customers is highly beneficial. To that end, Alithya has invested in spacious, modern, and collaborative new digital solutions centers in Montreal, Toronto, and Quebec City. The state-of-the-art environments are conducive to developing digital solutions and adding value to the implementation of our projects and are highly adaptable to our new reality.

In terms of leadership and diversity, Alithya’s Women in Leadership initiative was launched to attract more women to our industry and our company. This initiative also raises the awareness of all our leaders to recognize unconscious biases, and to ensure the promotion of more women to management positions. While women in the IT sector account for less than 20% of the workforce, as of March 31, 2020, approximately 36% of Alithya’s senior management team was comprised of women, with women accounting for 28% of our overall workforce. Additionally, Alithya is building a better workplace for the future by investing in the continuous development of its employees. The Alithya Leadership Academy, comprised of several modules, espouses initiatives focused on training and developing our leaders. Each module addresses a specific theme, empowering our managers to be effective leaders in all situations, and helping them grow as individuals.

Conclusion

In closing, I would like to take this opportunity to express my gratitude to the multitude of people who advance Alithya’s mission on a daily basis. The unwavering engagement, dedication, flexibility, and diversity of our skilled professionals continues to lead Alithya forward through innovation. Our talented workforce is also the beating heart behind who we are as a company. They continue to reinforce that notion through their selfless acts, such as representing Alithya in large numbers for the Make-a-Wish 48-Hour Ride for sick kids, and by raising record donations for the many causes that our people hold dearly, across all of our geographic territories.

I would like to thank our loyal customers for the trust and confidence that they continue to invest in Alithya. We consider ourselves fortunate to be associated with industry leaders who challenge us every day to be better. I would also like to thank our shareholders, our strategic financial partners and other business partners who have stood by us throughout this past year. We continue to do our best every day to earn that trust.

Finally, given the extraordinary circumstances surrounding this particular annual reporting period, I would like to take the time to thank our incredible healthcare workers and other front-line emergency responders who remain out there, 24/7, trying to make our lives better during these extremely challenging times.

Raymond_Paul_CEO3229

INTERVIEW WITH THE PRESIDENT AND CEO

While our vision has always been bold and ambitious, our commitment to being a leader in strategy and digital transformation continues to forge ahead. By supporting our customers in the achievement of their digital transformation goals pre-COVID-19, we’ve strengthened our position for accompanying them through this unprecedented period and beyond.
Read more

Alithya Askida designed a custom application adapted to Groupe Forget's growth strategy. They distinguished themselves through their simple approach and their focus on clearly understanding their customers’ needs in order to provide the most suitable technology. The Alithya Askida experts responded to our needs and enabled our professionals to optimize their processes, to improve productivity, and to analyze performance. In addition to sharing their in-depth industry knowledge with us, the application that they delivered provided us with a fresh look at our operations.

3-5 Year Strategic Plan
OUR THREE STRATEGIC OBJECTIVES
Increasing scale through organic growth and complementary acquisitions
  • Sustaining organic growth through innovation, higher-value offerings and client-relationships based on trust
  • Strategic acquisitions by way of a North America geographic expansion to complement current market presence, while progressively adding major integrated enterprise solutions offerings and selected specialized expertise
Achieving best-in-class employee engagement
  • Fostering a culture of collaboration and ownership
  • Cultivating employee well-being and personal growth
  • Investing in the development of our leaders and employees
Providing our investors, partners and stakeholders with long-term growing return on investment
  • Strengthening our existing relationships with clients, as a key trusted advisor, by generating long-term profitable growth
  • Investing in innovation and higher value service offerings
  • Acting responsibly, with a sustainable and respectful vision for our stakeholders
  • Sustaining organic growth through innovation, higher-value offerings and client-relationships based on trust
  • Strategic acquisitions by way of a North America geographic expansion to complement current market presence, while progressively adding major integrated enterprise solutions offerings and selected specialized expertise
  • Fostering a culture of collaboration and ownership
  • Cultivating employee well-being and personal growth
  • Investing in the development of our leaders and employees
  • Strengthening our existing relationships with clients, as a key trusted advisor, by generating long-term profitable growth
  • Investing in innovation and higher value service offerings
  • Acting responsibly, with a sustainable and respectful vision for our stakeholders

We partnered with Alithya to support our Oracle ERP and HCM project. We saw added value from the relationship with Alithya due to their experience across our business functions of HR, finance, and supply chain operations as well as their industry specific tools like Capsure RF. The Alithya team worked as dedicated partners to help us achieve our Oracle deployment.

Strategy
A PROVEN GROWTH STRATEGY

A recognized consolidator with a successful integration history, as well as strong organic growth

Since 2015, Alithya has been working hand in hand with our Novatech teams to manage our databases. Alithya’s remarkable expertise, in conjunction with Oracle, provides us with a 360-degree vision of our database architecture. The relevance of their interventions ensures that we are able to make informed decisions and that we improve the functioning of our operations while carrying out numerous acquisitions.

Corporate Responsibility
THREE PILLARS
  • PROTECTING OUR PEOPLE
  • PROTECTING OUR CLIENTS
  • PROTECTING THE COMPANY

MANAGING THE CRISIS AND COMING OUT TOGETHER

Alithya’s Crisis Management Expertise Centre was set up to support businesses during the COVID-19 pandemic, and to provide them with direct and centralized access to a multidisciplinary team. They benefited from fast and effective advice to ensure the continuity of their businesses and to prepare for the post-COVID-19 period.

Maximizing the potential of individuals

MAXIMIZING THE POTENTIAL OF INDIVIDUALS AND THE COMMUNITY

Alithya and its employees were involved in numerous local causes, including Make-A-Wish (more than $100,000 for the cause), the Terry Fox Run, the Atlanta Community Food Bank, and France’s World Clean Up Day.

Our teams at Purkinje enjoy privileged relationships with those of Alithya, based on trust and respect for our mutual skills. Alithya’s digital applications provide transparency and agility that meet the challenges of the healthcare sector. We rely on their collaborative leadership to develop, integrate, and deploy applications, not to mention the impetus that their Agile Academy provides to our teams.

DEVELOPING WORLD-CLASS TALENTED LEADERS

  • The Alithya Leadership Academy brings our learning and development programs under one umbrella for all of our managers around the world. In 2019, 93% of our Canadian, American, and French managers gathered in Montreal for a two‑day training session.

BUILDING A WORKPLACE FOR THE FUTURE

  • We built spacious new offices in Montreal (BOMA Best Silver), Toronto (BOMA Best Silver), and Quebec City that invite our employees to interact in numerous collaborative spaces featuring state-of-the-art lighting. These environments are home to 60% of our professionals.

ENSURING DIVERSITY AND INCLUSION IN OUR WORKFORCE
  • As part of our gender diversity focus, we launched the Women in Leadership initiative. Our objectives are to have more women join our organization, and to train our managers to recognize unconscious bias.
  • Female diversity: 36% of Alithya’s overall senior management team, and 28% of its team members, are women. The Board has set a target that at least 30% of directors on the Board should be women. Alithya has not yet achieved its target, but is progressing towards that goal.

This is my third major ERP re-vamping of a company and I have never seen the level of success and relatively smooth transition that this one had. Alithya, we can’t thank you enough for the time, energy, thoughtfulness and thoroughness that you and the whole team brought to the game.

Leadership
Nathalie Forcier
Chief Legal Officer & Corporate Secretary

Senior legal executive with strong experience acquired with two large international publicly-traded services, technology and IT firms, and with a national law firm.

Robert Lamarre
Chief Information Officer

Seasoned executive in the digital industry, in the integration of acquisitions, the management of real estate portfolios and procurement processes.

Natalie Piccinin
Senior Vice President, Human Capital

Human Resource executive with a solid background in organizational efficiency, talent and performance management, as well as employee engagement for several companies.

Paul Raymond
President and CEO

A former officer in the Canadian Armed Forces and an accomplished executive who held several key senior management positions in a major IT firm, namely as leader of their US North-Eastern operations.

Claude Rousseau
Chief Operating Officer

Senior executive with extensive experience and expertise in overseeing large firms’ business operations in sectors such as information technology and telecommunications.

Claude Thibault
Chief Financial Officer

Experienced executive who served as CFO for a variety of companies, both private and publicly traded, operating in Canada and the US.

Board of directors
Dana Adès-Landy
Director
Robert Comeau
Lead Director and President of the Audit and Risk Management Committee
Fredrick DiSanto
Director
Lucie Martel
Director and President of the Human Capital and Compensation Committee
Paul Raymond
President and CEO, and Director
James Renacci
Director
Ghyslain Rivard
Director
C. Lee Thomas
Director
Pierre Turcotte
President of the Board and President of the Corporate Governance and Nominating Committee
Why Alithya
1
Experienced executive team
2
Operating within faster growing segments of the overall IT sector
3
Solid financial position
4
Proven industry consolidator in highly fragmented market
5
Short-term synergies and cross-selling with acquisitions
6
Expanded geographic presence in the US

Alithya implements best practices to support Vergers Leahy’s digital transformation. Thanks to the unparalleled rigor of their exceptional team, our agri-food company is successfully modernizing its systems to make them smarter, while improving competitiveness. Vergers Leahy is pleased to be able to rely on a leading partner like Alithya that ensures transparent communication and excellent risk management.

Forward-looking statements

Certain statements contained herein may constitute “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other applicable U.S. safe harbours (collectively “forward-looking statements”). These statements may include, without limitation, estimates, plans, expectations, opinions, forecasts, projections or other statements regarding the future growth, results of operations, performance and business prospects of Alithya that do not exclusively relate to historical facts or which refer to the characterizations of future events or circumstances, including information or statements regarding our ability to generate sufficient earnings to support our operations, our ability to expand our capacities and broaden the scope of our service offering, our strategy, future operations, and prospects, our expectations regarding our financial performance, and the impact on Alithya of, and the response of Alithya to, the occurrence of the COVID-19 pandemic.

Although management believes the expectations reflected in Alithya’s forward-looking statements were reasonable as at the date they were made, forward-looking statements are based on the opinions, assumptions and estimates of management and, as such, are subject to a variety of risks and uncertainties and other factors, many of which are beyond Alithya’s control, and which could cause actual events or results to differ materially from those expressed or implied in such statements. Such risks and uncertainties include but are not limited to those discussed in Alithya’s annual Management’s Discussion and Analysis for the year ended March 31, 2020 and other materials made public, including documents filed with Canadian and U.S. securities regulatory authorities from time to time and which are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Forward-looking statements contained herein are expressly qualified in their entirety by these cautionary statements and are made only as of the date of Alithya’s annual Management’s Discussion and Analysis for the year ended March 31, 2020. Alithya expressly disclaims any obligation to update or revise any forward-looking statements, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by applicable law. Investors are cautioned not to place undue reliance on forward-looking statements since actual results may vary materially from them.

Certain measures disclosed herein have also not been prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. These measures should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with IFRS. Please refer to Alithya’s Management's Discussion and Analysis for the year ended March 31, 2020 for further details.