Exhibit 99.1


PAE Reports Fourth-Quarter and Full Year 2020 Financial Results


Fourth-quarter revenue of $787.8 million; $2.7 billion for the year
Fourth-quarter operating income of $20.5 million; $90.8 million for the year
Fourth-quarter net loss of $6.1 million; $15.3 million net income for the year
Fourth-quarter adjusted EBITDA1 of $44.0 million (margin of 5.6%1 of revenue); $180.2 million (margin of 6.6% of revenue) for the year
Fourth-quarter cash flows provided by operations of $8.7 million; $100.9 million cash flows provided by operations for the year
Fourth-quarter net bookings of $526 million (0.7x book-to-bill); $3.1 billion for the trailing 12 months (1.2x book-to-bill)
Company issues fiscal 2021 financial guidance

FALLS CHURCH, Va., March 11, 2021
— PAE Incorporated (“PAE” or the “Company”) (NASDAQ: PAE, PAEWW) today announced fourth-quarter and full year 2020 financial and operating results.

CEO Commentary

PAE President and CEO John Heller said, “We delivered strong organic year-over-year revenue growth of 7.4% (before the impact of acquisitions) and profitability that exceeded expectations for the quarter. Despite the challenges presented by the pandemic in 2020, we successfully executed against our objectives of increasing profit margins, lowering our cost of debt and completing strategic, accretive acquisitions. We have favorable tailwinds entering 2021 with recent flagship contract wins, including positions on the Global Support Strategy 2.0 and MEGA V IDIQ contracts, along with the anticipated successful integrations of CENTRA and Metis.”

COVID-19 Financial Impact

We estimate the fourth-quarter negative impact from the COVID-19 pandemic to be approximately $62.1 million of revenue and an immaterial net impact to adjusted EBITDA and cash flow provided by operations. These impacts were primarily driven by disruptions to logistics operations and by limitations on the ability of PAE employees and subcontractors to access facilities to perform on customer contracts. Since the onset of the COVID-19 pandemic, PAE has operated as an essential business, continuing to support our customers in a resilient market.

Fourth -Quarter 2020 Results

1 Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. A reconciliation of adjusted EBITDA and adjusted EBITDA margin to their most directly comparable GAAP financial measure, net income (loss), and a discussion of Adjusted EBITDA, Adjusted EBITDA margin and other non-GAAP financial measures, is contained in the “Non-GAAP Financial Measures” section of this release.

The following information was filed by Pae Inc (PAE) on Thursday, March 11, 2021 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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