Black Diamond Group Limited Reports Results for the Third Quarter Ended September 30, 2013

CALGARY, ALBERTA – Nov. 6, 2013 – Black Diamond Group Limited (TSX:BDI) (“Black Diamond” or the “Company”) is pleased to announce its financial and operational results for the three and nine months ended September 30, 2013.

THIRD QUARTER 2013 CONSOLIDATED HIGHLIGHTS

Black Diamond realized increases in revenue generation for the three months ended September 30, 2013 (“Period”) compared to the three months ended September 30, 2012 (“Comparative Period”). Revenue generation in the Period was $78.1 million compared to $74.9 million in the Comparative Period, or a 4% increase. EBITDA of $33.1 million in the Period increased from $31.2 million in the Comparative Period, or a 6% increase.

The Company realized a significant revenue increase from the rental platform of the business. Rental revenue generated for the Period was $37.9 million, 61% higher than the Comparative Period, due in part, to a strong capital expenditure program. Non-rental revenue was $25.4 million for the Period, 19% lower than the Comparative Period. Lodging revenue was $14.8 million for the Period, or 25% lower than the Comparative Period.

The decrease in non-rental revenue and lodging revenue relative to the Comparative Period was due to completion of several large projects in Q2 and modest field level delays of newly contracted projects. This has caused non-rental revenue relating to ancillary services and lodging revenue relating to operations from these projects to decrease.

THIRD QUARTER 2013 BUSINESS UNIT HIGHLIGHTS

STRUCTURES BUSINESS UNIT

The Structures Business Unit ended the Period with 2,975 workforce accommodation units in the rental fleet which averaged 85% utilization for the Period. The workforce accommodation bedcount reached 11,932 during the Period and the space rentals units reached 3,246 with an 80% average utilization during the Period.

The Business Unit generated $51.8 million in revenue during the Period compared to $45.6 million in the Comparative Period of 2012. Rental revenue increased significantly from $18.3 million in the Comparative Period to $29.9 million in the Period. Non-rental revenue decreased to $21.9 million in the Period from $27.3 million in the Comparative Period.

EBITDA increased to $29.5 million in the Period from $21.9 million in the Comparative Period.

LOGISTICS BUSINESS UNIT

The Logistics Business Unit ended the Period with a managed bedcount of 3,035. The total bedcount for the business unit increased from prior year, however occupancy decreased in the Period due to project timing. The Business Unit generated $14.8 million in lodging revenue in the Period compared to $19.8 million in the Comparative Period. The decrease was in line with management’s expectations with one substantial full service camp winding down in Q2 2013.

EBITDA decreased from $7.8 million in the Comparative Period to $4.3 million in the Period.

ENERGY SERVICES BUSINESS UNIT

The Energy Services Business Unit ended the Period with 288 drilling accommodation units in the fleet which averaged 65% utilization, a drilling accommodation bedcount of 890 and 2,330 units in the surface rental fleet which averaged 32% utilization during the Period. The Business Unit generated $6.8 million in revenue in the Period compared to $9.5 million in the Comparative Period, largely due to lower market pricing and utilization of assets.

EBITDA decreased from $3.6 million in the Comparative Period to $2.5 million in Period.

INTERNATIONAL BUSINESS UNIT

The International Business Unit generated total revenue of $4.7 million in the Period including rental revenue of $3.0 million and non-rental revenue of $1.7 million. The International fleet rental revenue in the Period was consistent with prior quarters on a local currency basis. The Business Unit ended the Period with 1,124 workforce accommodation and space rental units in the fleet which averaged 81% utilization during the Period. The workforce accommodation bedcount for the business unit was 1,610 at the end of the Period.

EBITDA for the Period was $2.1 million. There is no Comparative Period figure as this is a new operating unit.

DIVIDENDS

Black Diamond paid dividends of $0.07 per share per month during the Period, resulting in a payout ratio of 28% compared to 24% for the Comparative Period during which the Company paid $0.06 per share per month.

OUTLOOK

Financial results for the third quarter of 2013 were in-line with management’s expectations – moderately stronger than both the second quarter of 2013 and third quarter of 2012. As expected, the continued significant investment in the rental fleets has contributed to a 61% increase in rental revenue from the Comparative Period and an increase of 52% relative to the nine month period ended September 30, 2012.

Management’s outlook is positive for the remainder of 2013 and 2014, due to the performance and continued growth of the rental platform, demand for Black Diamond’s products and services, a robust sales platform and recently announced significant contract awards. Considerable increases in revenue and EBITDA are anticipated in both the Structures and Logistics Business Units as several large-scale, longer-term contracts come on-line to service resource development in western Canada. Within the Energy Services Business Unit, management expects increasing revenue and earnings for Q4 2013 and Q1 2014 due to the higher activity winter drilling season. Management expects the Australian financial results to be stable for the last quarter of 2013 as the business continues to establish itself by solidifying the support team and building both the brand and operations for growth.

To date, Black Diamond has committed substantially all of its previously announced $117 million 2013 capital budget, with spending focused primarily on remote, large scale infrastructure and resource related projects. The Company forecasts 2014 capital expenditures of approximately $100 million, which will be funded entirely out of operating cash flow. The Company’s balance sheet continues to have significant capacity to meet current and anticipated market demand for fleet additions as well as potential strategic opportunities.

SUMMARY FINANCIAL STATEMENTS

The following is a summary of the Company’s unaudited condensed consolidated interim statement of financial position as at September 30, 2013 and December 31, 2012 and the Company’s unaudited condensed consolidated interim statements of net income and cash flows for the three month periods ended September 30, 2013 and 2012. These summary statements should be read in conjunction with the Company’s unaudited condensed consolidated interim financial statements including the accompanying notes for the three and nine month periods ended September 30, 2013 and 2012 as filed on SEDAR.

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