Montréal, Quebec, September 13, 2021

CGI (TSX: GIB.A) (NYSE: GIB) announced today that it has priced an offering of Canadian dollar denominated senior unsecured notes.

CGI will issue C$600 million aggregate principal amount of 7-year senior unsecured notes. The notes will bear interest at the rate of 2.100% per annum. The offering is expected to close on or about September 16, 2021, subject to customary closing conditions.

This offering supplements the previously announced offering of US$1.0 billion in aggregate principal amount of senior unsecured notes, consisting of US$600 million aggregate principal amount of 5-year notes and US$400 million aggregate principal amount of 10-year notes expected to close on or about September 14, 2021, subject to customary closing conditions.

The net proceeds from the offering of the Canadian dollar denominated senior unsecured notes are expected to be approximately C$595.3 million after deducting the agents’ fees and estimated offering expenses. CGI intends to use the aggregate net proceeds from the Canadian dollar denominated and U.S. dollar denominated offerings to repay in full its unsecured committed term loan credit facility maturing in March 2023 in an amount of US$1,250 million, and any balance for general corporate purposes.

The Canadian dollar denominated senior unsecured notes are being offered in Canada on an agency basis by a syndicate of agents led by Scotia Capital Inc., TD Securities Inc., CIBC World Markets Inc. and Desjardins Securities Inc.

The Canadian dollar denominated senior unsecured notes will be offered on a private placement basis in each of the provinces of Canada in reliance upon exemptions from the prospectus requirements of applicable securities laws. Such notes have not been, and will not be, registered under the Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the Canadian dollar denominated notes in the United States or any other jurisdiction where such offering or sale would be unlawful.

The U.S. dollar denominated notes have not been registered under the U.S. Securities Act or any state securities laws and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The U.S. dollar denominated notes have not been qualified by way of prospectus in any province or territory of Canada and may not be offered or sold in Canada except pursuant to an exemption from, or in a transaction not subject to, the prospectus requirements of applicable Canadian securities laws. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the U.S. dollar denominated notes in any jurisdiction where such offering or sale would be unlawful.

About CGI

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 78,000 consultants and other professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2020 reported revenue is C$12.16 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB).

Forward-looking information and statements

This press release contains "forward-looking information" within the meaning of Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable United States safe harbors. All such forward-looking information and statements are made and disclosed in reliance upon the safe harbor provisions of applicable Canadian and United States securities laws.

Forward-looking information and statements include all information and statements regarding CGI's intentions, plans, expectations, beliefs, objectives, future performance, and strategy, as well as any other information or statements that relate to future events or circumstances and which do not directly and exclusively relate to historical facts. Forward-looking information and statements often but not always use words such as "believe", "estimate", "expect", "intend", "anticipate", "foresee", "plan", "predict", "project", "aim", "seek", "strive", "potential", "continue", "target", "may", "might", "could", "should", and similar expressions and variations thereof.

These information and statements are based on our perception of historic trends, current conditions and expected future developments, as well as other assumptions, both general and specific, that we believe are appropriate in the circumstances. Such information and statements are, however, by their very nature, subject to inherent risks and uncertainties, of which many are beyond the control of CGI, and which give rise to the possibility that actual results could differ materially from our expectations expressed in, or implied by, such forward-looking information or forward-looking statements.

These risks and uncertainties include but are not restricted to: risks related to the market such as the level of business activity of our clients, which is affected by economic conditions, and our ability to negotiate new contracts; risks related to our industry such as competition and our ability to attract and retain qualified employees, to develop and expand our services, to penetrate new markets, and to protect our intellectual property rights; risks related to our business such as risks associated with our growth strategy, including the integration of new operations, financial and operational risks inherent in worldwide operations, foreign exchange risks, income tax laws, our ability to negotiate favorable contractual terms, to deliver our services and to collect receivables, and the reputational and financial risks attendant to cybersecurity breaches and other incidents; as well as other risks identified or incorporated by reference in this press release, in CGI's annual and quarterly MD&A and in other documents that we make public, including our filings with the Canadian Securities Administrators (on SEDAR at www.sedar.com) and the U.S. Securities and Exchange Commission (on EDGAR at www.sec.gov).

Unless otherwise stated, the forward-looking information and statements contained in this press release are made as of the date hereof and CGI disclaims any intention or obligation to publicly update or revise any forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. While we believe that our assumptions on which these forward-looking information and forward-looking statements are based were reasonable as at the date of this press release, readers are cautioned not to place undue reliance on these forward-looking information or statements.

Furthermore, readers are reminded that forward-looking information and statements are presented for the sole purpose of assisting investors and others in understanding our objectives, strategic priorities and business outlook as well as our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

Further information on the risks that could cause our actual results to differ significantly from our current expectations may be found in the section titled "Risk Environment" of CGI's annual and quarterly MD&A, which is incorporated by reference in this cautionary statement.

We also caution readers that the above-mentioned risks and the risks disclosed in CGI's annual and quarterly MD&A and other documents and filings are not the only ones that could affect us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial could also have a material adverse effect on our financial position, financial performance, cash flows, business or reputation.

For more information:

Investors

Maher Yaghi
Vice-President, Investor Relations
maher.yaghi@cgi.com
+1 514-415-3651

Media

Emilie Proulx
Manager, Media and public relations
emilie.proulx@cgi.com
+1 514-206-2851