Contact:    Patrick Suehnholz                        
    Director of Investor Relations                 
    Greenhill & Co., Inc.
    (212) 389-1800                                        


Quarterly revenues of $56.0 million, down 36% from prior year’s third quarter due to the continued impact of the global pandemic on M&A activity

Total year to date revenues of $170.9 million, down 12% due to impact of pandemic on global M&A and capital advisory activity, partially offset by increased restructuring activity

Compensation ratio for quarter and year to date higher as a result of lower revenues

Non-compensation costs for quarter down 11% and year to date down 13% despite duplicate rent charge during the build out of our new headquarters location

Repaid in advance during the third quarter the principal term debt installment of $3.1 million due in December 2020

NEW YORK, NEW YORK, November 2, 2020 – Greenhill & Co., Inc. (NYSE: GHL) today reported revenues of $56.0 million, a net loss of $9.4 million and loss per share of $0.49 for the quarter ended September 30, 2020.

The Firm’s third quarter 2020 net loss and loss per share compare to net income of $14.9 million and income per share of $0.63 for the third quarter 2019.

For the nine months ended September 30, 2020, revenues of $170.9 million compare to revenues of $194.3 million in the comparable period in 2019, a decrease of $23.4 million, or 12%. For the first nine months of 2020, a net loss of $31.9 million and a loss per share of $1.69 compare to a net loss of $13.2 million and a loss per share of $0.54 for the same period in 2019.

The third quarter and year to date 2020 per share figures were negatively impacted by our share count that (due to our loss) reflects basic shares outstanding figures, which are 3.3 million and 3.6 million shares, respectively, lower than a fully diluted share count would have been if we had reported income.
The Firm’s revenues and net income can fluctuate materially depending on the number, size and timing of completed transactions on which it advised and other factors. Accordingly, the revenues and net income in any particular period may not be indicative of future results.

The following information was filed by Greenhill Co Inc (GHL) on Monday, November 2, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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