Atlas Reports Second Quarter 2020 Results

    --  Delivered Funds From Operations (FFO)((1)) per Share, Diluted, of $0.64
        and Adjusted EBITDA((1)) of $238.9 million for the quarter; introduced
        as new key performance metrics


    --  Declared dividend of $0.125 per common share; 15 years of consistent
        distributions


    --  Achieved record quarterly revenue of $363.8 million in first full
        quarter of APR ownership


    --  Liquidity of $382.9 million at quarter end; extended $150.0 million
        revolving credit facility


    --  Seaspan agreed to acquire two vessels backed by long-term charters, with
        contracted revenue of over $150.0 million; secured charters for full
        fleet of 125 vessels


    --  APR achieved COD on all 8 turbines over three peaking power plants in
        Mexicali
    --  Seaspan achieved investment grade BBB- Senior Secured rating((2))

LONDON, Aug. 11, 2020 /PRNewswire/ - Atlas Corp. ("Atlas") (NYSE: ATCO) announced today its results for the three and six months ended June 30, 2020.

Comments from Management
Bing Chen, CEO of Atlas, commented, "I am proud of how our businesses responded to the unprecedented global challenges during the second quarter and truly appreciate our entire team's efforts in delivering best-in-class customer service. The results are evident in Seaspan's fully contracted fleet and our successful transfer of over 800 crew members during global port challenges. Likewise, we continue to deliver operational excellence at APR to achieve COD on three new power plants despite the logistical challenges around the world. Atlas' resilient business model, with $4.6 billion of long-term contracted revenue, is well positioned to take advantage of future opportunities as the market shock accelerates consolidation in the containership space, as well as the need for temporary and fast-track power."

Ryan Courson, CFO of Atlas, said, "The recent announcement of our agreement to acquire two additional containerships on long-term charters, marks approximately $3.4 billion in capital deployed since the beginning of 2018. During this period, we have prudently allocated capital toward deleveraging our balance sheet, reinvesting into assets with strong risk-adjusted returns, and returning cash to our investors through our dividend. We have accomplished all of this while remaining disciplined with our balance sheet, finishing the quarter with over $380 million of liquidity and also achieving an external investment grade credit rating on a central component of Seaspan's capital structure. We remain confident in the resiliency of our business model, tightening and reaffirming our 2020 guidance for Seaspan and APR respectively, and delivering FFO per Share of $0.64 during the second quarter."



            (1)            This is a non-GAAP financial
                              measure. Refer to "Definitions
                              and Non-GAAP Financial
                              Measures" and the Appendices for
                              a definition of this term and a
                              reconciliation of this non-GAAP
                              financial measure, as used in
                              this release, to the financial
                              measures under GAAP.



            (2)            Kroll Bond Rating Agency rated
                              Seaspan's Portfolio Financing
                              Program BBB- and provided
                              Corporate Rating of BB

Consolidated Results

The following tables summarize Atlas' consolidated results for the three months ended June 30, 2020, March 31, 2020, and June 30, 2019.


                                        
            
         Three Months Ended



                     (in millions of US June 30,                   March 31,         June 30,
                      dollars, except      2020                              2020(1)                2019
                      per share
                      amounts,
                      percentages and
                      ratios,
                         unaudited
                                )




                     GAAP Financial

    ---


       Revenue                                    $
          363.8                              $
       308.4 $
       275.4


        Net earnings                                        82.7                                    51.9       40.0


        Earnings per
         share, diluted                                     0.26                                    0.15       0.10




                     Non-GAAP
                      Financial

    ---

        Adjusted EBITDA(2)                                 238.9                                   196.4      173.8



       FFO(2)                                             161.3                                   124.8       91.7


        FFO per Share,
         Diluted(2)                                         0.64                                    0.53       0.42


        Net Debt to
         Adjusted
         EBITDA(2)                                   
          5.2x                               
       5.5x  
       3.3x




                     Financial Position

    ---

        Ending
         Liquidity(3)                                      382.9                                   393.7      868.4


        Ending Contracted
         Revenue(4)                                      4,625.0                                 4,784.3    4,306.7


        Total
         Borrowings(2)                                   4,268.5                                 4,157.6    3,697.8




                     Operational

    ---

        Vessel Utilization                                  97.4                                    97.9       98.8
                                                               %                                      %         %


        Power Fleet                                         68.4                                    65.4       72.3
         Utilization(5)                                        %                                      %         %




              (1)              APR's contribution for the
                                  quarter ended March 31, 2020 is
                                  limited to the period from and
                                  including February 29, 2020, the
                                  day after the closing of the
                                  acquisition, to March 31, 2020.



              (2)              This is a non-GAAP financial
                                  measure. Refer to "Definitions
                                  and Non-GAAP Financial
                                  Measures" and the Appendices for
                                  a definition of this term and a
                                  reconciliation of this non-GAAP
                                  financial measure, as used in
                                  this release, to the financial
                                  measures under GAAP.



              (3)              This is the total cash and cash
                                  equivalents balance plus the
                                  total available undrawn
                                  committed revolving credit
                                  facilities at period end.



              (4)              Ending contracted revenue is on a
                                  fully delivered fleet basis,
                                  including the two new vessels
                                  purchased on July 6, 2020.



              (5)              Power fleet utilization in
                                  comparative periods has been
                                  adjusted to reflect average
                                  utilization during the quarter.

Guidance 2020

The following table is based on Atlas' current expectations. Seaspan's revenue guidance for 2020 has been tightened, and APR's guidance has been reaffirmed, compared to 2020 guidance provided on May 5, 2020.


                    Operating
                     Metrics      Previous Guidance                   Updated Guidance

                    (in millions
                     of US
                     dollars)



                                         Low                     High                               Low High


                    Seaspan

    ---

        Revenue                                     $
       1,185.0                       $
       1,225.0          $
       1,190.0 $
       1,220.0


        Operating
         expense                                           245.0                              255.0                 245.0        250.0


        G&A expense                                         35.0                               40.0                  35.0         40.0


        Operating
         lease
         expense                                           145.0                              155.0                 145.0        150.0


        Adjusted
         EBITDA                                                                                                   750.0        795.0




                    APR

                    (for period
                     from
                     February 29,
                     2020 to
                     December 31,
                     2020)

    ---

        Revenue                                       $
       190.0                         $
       220.0            $
       190.0   $
       220.0


        Operating
         expense                                            40.0                               54.0                  40.0         54.0


        G&A expense                                         38.0                               40.0                  38.0         40.0


        Operating
         lease
         expense                                             3.0                                4.0                   3.0          4.0


        Adjusted
         EBITDA                                                                                                   110.0        130.0

Seaspan Corporate Developments
In April 2020, Seaspan took delivery of the remaining two 12,000 TEU containerships as part of a $367.0 million transaction for four vessels, all on long-term charters with a leading global liner. In connection with these deliveries, Seaspan closed financing arrangements with total proceeds of $340.0 million and initial terms of ten years.

In April 2020, Seaspan took delivery of a 9,600 TEU vessel on long-term charter with a leading global liner.

In June 2020, Seaspan completed its scrubber retrofitting project for five 10,000 TEU vessels and five 14,000 TEU vessels on time and on budget, in partnership with two leading global liners.

On July 2, 2020, Seaspan extended its $150.0 million revolving credit facility. The revolving credit facility matures in July 2022 and may be increased up to a maximum of $200.0 million.

On July 23, 2020, Seaspan announced an agreement to purchase two 13,000 TEU containerships for approximately $146.0 million. These vessels are secured on long-term charters with contracted revenue of over $150.0 million, and are expected to be delivered in the third quarter of 2020. Upon delivery, Seaspan's fleet will consist of 125 containerships.

In June 2020, Torsten Holst Pedersen was appointed as Chief Operating Officer of Seaspan.

In August 2020, Seaspan received an issuance rating of BBB- related to its cornerstone portfolio financing program and corporate rating of BB from Kroll Bond Rating Agency.

APR Corporate Developments
In June 2020, Brian Rich was appointed as President & Chief Operating Officer of APR Energy.

In June 2020, APR mobilized three peaking power gas-fired plants in Mexicali, Baja California, Mexico (265MW), for COD in the second and third quarters of 2020.

Distribution
The Board of Directors of Atlas declared a quarterly distribution on Atlas' common shares in the amount of $0.125 per share, paid on July 30, 2020, unchanged from the prior quarter. Regular quarterly dividends on the Preferred Shares Series D, Series E, Series G, Series H and Series I were also paid.

Segmental Financial Results

The following table summarizes segmental financial results for the three months ended June 30, 2020.


                                                                          
      
     Three Months Ended June 30, 2020



                            (in millions of         Containership                               Mobile Power                      Elimination
                             U.S. dollars,                                                                                             and        Total
    unaudited)                              Leasing                                  Generation                          Other(3)



               Revenue                                            $
       303.8                                    $
      60.0                      
     $         $
       363.8


               Operating
                expense                                                 56.7                                        10.3                                        67.0


               G&A expense                                               6.4                                        10.3                              3.1        19.8


               Operating lease
                expense                                                 37.2                                         1.0                                        38.2


               Adjusted
                EBITDA(1)                                              203.3                                        38.0                            (2.4)      238.9


               FFO(1)                                                  152.3                                        26.8                           (17.8)      161.3


               Net earnings                                             77.5                                         7.0                            (1.8)       82.7


               Ending
                Contracted
                Revenue(2)                                           4,222.4                                       402.6                                     4,625.0




              (1)              This is a non-GAAP
                                  financial measure. Refer
                                  to "Definitions and Non-
                                  GAAP Financial Measures"
                                  and the Appendices for a
                                  definition of this term
                                  and a reconciliation of
                                  this non-GAAP financial
                                  measure, as used in this
                                  release, to the
                                  financial measures under
                                  GAAP.



              (2)              Ending contracted revenue
                                  on a fully delivered
                                  fleet basis, including
                                  the two new vessels
                                  purchased on July 6,
                                  2020.



              (3)              Elimination and other
                                  include amounts relating
                                  to preferred shares,
                                  corporate headquarters
                                  and elimination of
                                  intercompany
                                  transactions.

Financial Results Summary

Revenue increased by 32.1% to $363.8 million for the three months ended June 30, 2020, compared with the same period in 2019. 21.8% of the increase in revenue was due to a full quarter of APR revenue contribution. Seaspan revenue growth contributed 10.3% of the increase, primarily due to the delivery of eleven vessels between December 2019 and April 2020, which contributed $26.1 million in the three months ended June 30, 2020.

Adjusted EBITDA was $238.9 million, a $65.1 million increase relative to the same period in 2019. This was driven by the full quarter contribution of APR and increased Seaspan contribution from the delivery of eleven vessels noted above, in addition to lower operating lease expense due to lower LIBOR.

FFO increased by $69.6 million for the three months ended June 30, 2020, compared with the same period in 2019. The increase was primarily due to improvements in Adjusted EBITDA and lower interest expense from improvements to Seaspan's cost of debt and lower LIBOR.

Liquidity
As of June 30, 2020, Atlas had total liquidity of $382.9 million, consisting of $221.8 million of cash and cash equivalents and $161.1 million of availability under undrawn committed revolving credit facilities. As of June 30, 2020, Atlas had an unencumbered asset base including 30 vessels with a book value of $1.05 billion((1)).



              (1)              Balance Sheet value as
                                  at June 30, 2020.

Common Shares Outstanding
As of August 11, 2020, there were 246.8 million common shares outstanding, excluding Holdback Shares ("Holdback Shares"). During the quarter ended June 30, 2020, the APR Sellers agreed to surrender their rights to receive 0.6 million Holdback Shares as part of purchase price adjustments. There are now 6.1 million Holdback Shares reserved for future issuance. The amount of Holdback Shares to be issued to the APR sellers will be determined upon settlement of certain purchase price adjustments and specified indemnification obligations over a period of between 90 days to five years after the date of acquisition.

Conference Call and Webcast
Atlas will host a conference call and webcast presentation for investors, analysts, and interested parties to discuss its second quarter results on August 11, 2020 at 8:30 a.m. ET. Participants should call 1-877-246-9875 (US/Canada) or 1-707-287-9353 (International) and request the Atlas call (conference ID: 3439874). The live webcast and slide presentation are available under "Events & Presentations" at www.atlascorporation.com.

A replay will be available until August 26, 2020. The replay telephone numbers are: US/Canada 1-855-859-2056 and International 1-404-537-3406 and the replay passcode is: 3439874.

About Atlas
Atlas is a leading global asset management company, differentiated by its position as a best-in class owner and operator with a focus on deploying capital to create sustainable shareholder value. We target long-term, risk adjusted returns across high quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. For more information visit atlascorporation.com

About Seaspan
Seaspan is a leading independent owner and operator of containerships. We charter our vessels primarily pursuant to long-term, fixed-rate time charters to the world's largest container shipping liners. Seaspan's fully delivered fleet will consist of 125 containerships, representing total capacity of approximately 1,049,000 TEU. For more information visit seaspancorp.com

About APR
APR provides rapidly deployable, large-scale power and fast-track mobile power to underserved markets and industries. APR's mobile, turnkey power plants help run industries, cities and countries globally in both developed and developing markets. For more information, please visit aprenergy.com.


                                                     
            
                ATLAS CORP.

                                            
          
              UNAUDITED CONSOLIDATED BALANCE SHEETS

                                              
             
              (IN MILLIONS OF US DOLLARS)




                                                June 30, 2020                                       December 31,
                                                                                                         2019




     Assets



     Current assets:



     Cash and cash equivalents                                              $
              221.8                        $
         195.0



     Accounts receivable                                                                107.8                                18.7



     Inventories                                                                         74.1                                14.2



     Prepaid expenses and other                                                          29.2                                17.6



     Net investment in lease                                                             10.3                                35.2



     Acquisition related assets                                                          81.0



                                                                                         524.2                               280.7




      Property, plant and equipment                                                    6,965.9                             5,707.7



     Right-of-use assets                                                                902.7                               957.2



     Net investment in lease                                                            424.5                               723.6



     Goodwill                                                                            88.5                                75.3



     Deferred tax assets                                                                 17.2



     Other assets                                                                       303.1                               172.5



                                                              $
              
                9,226.1                   $
     
          7,917.0



      Liabilities and shareholders' equity



     Current liabilities:


      Accounts payable and accrued
       liabilities                                                           $
              216.1                         $
         83.4



     Deferred revenue                                                                    17.2                                20.3



     Income tax payable                                                                 108.1



     Long-term debt - current                                                           256.8                               363.7


      Operating lease liabilities -current                                               160.6                               159.7


      Other financing arrangements -current                                               46.8                               134.6



     Other liabilities - current                                                         32.7                                 7.8



                                                                                         838.3                               769.5





     Long-term debt                                                                   3,289.7                             2,696.9



     Operating lease liabilities                                                        728.8                               782.6



     Other financing arrangements                                                       624.4                               373.9



     Deferred tax liabilities                                                             8.8



     Derivative instruments                                                              73.0                                50.2



     Other liabilities                                                                   43.5                                11.2



                                                                                       5,606.5                             4,684.3





     Shareholders' equity:



     Share capital                                                                        2.4                                 2.5



     Treasury shares                                                                                                       (0.4)



     Additional paid in capital                                                       3,845.6                             3,452.9



     Deficit                                                                          (207.5)                            (200.7)


      Accumulated other comprehensive loss                                              (20.9)                             (21.6)



                                                                                       3,619.6                             3,232.7



                                                              $
              
                9,226.1                   $
     
          7,917.0


                                                                             
              
                ATLAS CORP.

                                                                
         
                UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

                                                     
            
         (IN MILLIONS OF US DOLLARS, EXCEPT SHARES IN THOUSANDS AND PER SHARE AMOUNTS)




                                          Three Months Ended                                                  Six Months Ended

                                               June 30,                                                       June 30,



                                                        2020                                2019                                          2020    2019






     Revenue                                                     $
              363.8                                         $
              275.4              $
         672.2     $
           560.7




      Operating expenses (income):



     Operating expenses                                                       67.0                                                      55.9                     126.8              113.6


      Depreciation and amortization                                            88.5                                                      63.4                     160.7              125.9


      General and administrative                                               19.8                                                       6.9                      30.2               15.7



     Operating leases                                                         38.2                                                      38.8                      76.7               78.0


      Income related to modification of
       time charters                                                                                                                                                            (227.0)



                                                                              213.5                                                     165.0                     394.4              106.2






     Operating earnings                                                      150.3                                                     110.4                     277.8              454.5





     Other expenses (income):



     Interest expense                                                         50.8                                                      58.0                     100.4              118.2



     Interest income                                                         (1.1)                                                    (3.1)                    (2.5)             (6.3)


      Loss on derivative instruments                                            7.0                                                      14.4                      31.8               15.6



     Other expenses                                                            4.8                                                       0.8                       5.5                1.1



                                                                               61.5                                                      70.1                     135.2              128.6






     Income tax expense                                                        6.1                                                       0.3                       8.0                0.6





     
                Net earnings                              $
       
                82.7                             $
              
                40.0          $
     
           134.6 $
     
             325.3




      Dividends -preferred shares                                            (16.7)                                                   (18.2)                   (33.5)            (36.4)



      Net earnings attributable to common
       shares                                                      $
              66.0                                          $
              21.8              $
         101.1     $
           288.9





      Weighted average number of shares,
       basic                                                                247,210                                                   216,044                   237,187            212,821


      Effect of dilutive securities:



     Share-based compensation                                                   68                                                       572                       146                341



     Fairfax warrants                                                                                                                 4,095                     2,975              2,914



     Holdback shares                                                         6,087                                                                              4,114



      Weighted average number of shares,
       diluted                                                              253,365                                                   220,711                   244,422            216,076






     Earnings per share, basic                                    $
              0.27                                          $
              0.10               $
         0.43      $
           1.36



      Earnings per share, diluted                                  $
              0.26                                          $
              0.10               $
         0.41      $
           1.34


                                                                                                                     
              
                ATLAS CORP.


                                                                                                   
              
                UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS


                                                                                                             
              
                (IN MILLIONS OF US DOLLARS)




                                                                                 Three Months Ended                                                    Six Months Ended

                                                                                      June 30,                                                             June 30,



                                                                                               2020                                                       2019                                 2020               2019




     Cash from (used in):



     Operating activities:



     Net earnings                                                                                        $
              82.7                                                        $
              40.0                     $
         134.6 $
            325.3



     Items not involving cash:



     Depreciation and amortization                                                                                   88.5                                                                    63.4                            160.7           125.9



     Change in right-of-use asset                                                                                    29.6                                                                    27.9                             58.8            55.4


      Non-cash interest expense and accretion                                                                         10.0                                                                     7.8                             18.9            14.9


      Unrealized change in derivative instruments                                                                      2.1                                                                     6.5                             22.9


      Amortization of acquired revenue contracts                                                                       4.2                                                                     3.8                              8.1             5.8



     Other                                                                                                            2.2                                                                     3.7                              2.0             4.6


      Change in other operating assets and
       liabilities                                                                                                  (60.6)                                                                  216.8                          (116.6)         (32.7)




     Cash from operating activities                                                                                 158.7                                                                   369.9                            289.4           499.2






     Investing activities:


      Expenditures for property, plant and
       equipment                                                                                                   (203.9)                                                                  (4.8)                         (453.1)          (6.9)



     Short-term investments                                                                                                                                                                                                                 2.4


      Payment on settlement of interest swap
       agreements                                                                                                    (5.3)                                                                 (10.5)                           (8.1)         (17.2)


      Cash and restricted cash acquired from APR
       Energy acquisition                                                                                                                                                                                                    50.6



     Other assets                                                                                                  (12.4)                                                                  (1.5)                          (50.0)          (5.1)



      Cash used in investing activities                                                                            (221.6)                                                                 (16.8)                         (460.6)         (26.8)






     Financing activities:


      Repayments of long-term debt and other
       financing arrangements                                                                                      (132.7)                                                                (945.5)                         (791.3)      (1,255.3)


      Issuance of long-term debt and other
       financing arrangements                                                                                        238.2                                                                   619.0                          1,036.9           619.0



     Notes and warrants issued                                                                                                                                                                                             100.0           250.0


      Proceeds from exercise of warrants                                                                                                                                                                                                   250.0



     Financing fees                                                                                                 (6.1)                                                                 (14.7)                          (19.0)         (15.7)



     Dividends on common shares                                                                                    (30.8)                                                                 (26.6)                          (57.7)         (48.5)



     Dividends on preferred shares                                                                                 (16.7)                                                                 (17.7)                          (33.5)         (35.4)



      Cash from (used in) financing activities                                                                        51.9                                                                 (385.5)                           235.4         (235.9)





      (Decrease) increase in cash, cash
       equivalents and restricted cash                                                                              (11.0)                                                                 (32.4)                            64.2           236.5


      Cash, cash equivalents and restricted cash,
       beginning of period                                                                                           272.5                                                                   640.3                            197.3           371.4



      Cash, cash equivalents and restricted cash,
       end of period                                                                                     $
              261.5                                                       $
              607.9                     $
         261.5 $
            607.9







      The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the amounts shown in the consolidated statements of
       cash flows:


                                                                                      June 30,                                                       June 30,


                                                                                               2020                                                       2019




     Cash and cash equivalents                                                                          $
              221.8                                                       $
              592.4



     Restricted cash                                                                                                 39.7                                                                    15.5



      Total cash, cash equivalents and restricted
       cash shown in the


      consolidated statements of cash flows                                                              $
              261.5                                                       $
              607.9


                                                                
           
              ATLAS CORP.


                                                            
           
             FUNDS FROM OPERATIONS




                                                          
           
           Three Months Ended



                            (in millions of                                                         March 31,
                             U.S. dollars,                                                           2020(1)
                             except shares in June 30, 2020                                                          June 30, 2019
    thousands and per share amounts,
     unaudited)

                                                                                                                               ---

                            GAAP Net Earnings                $
           
             82.7                           $
      
               51.9 $
     
           40.0




               Preferred share dividends                                    (16.7)                                        (16.8)         (18.2)



              Gain on sale                           (0.6)


               Unrealized change in fair
                value of derivative
                instruments                                                    2.1                                           20.8             6.5


               Change in contingent
                consideration asset(2)                                         0.7                                          (3.3)


               Loss on foreign currency
                repatriation(3)                         4.6


               Depreciation and amortization                                  88.5                                           72.2            63.4



                            FFO                             $
           
             161.3                          $
      
               124.8 $
     
           91.7

                                                                                                                                              ---

               Weighted average shares
                outstanding, diluted                                       253,365                                        236,413         220,711



                            FFO per Share,
                             Diluted                         $
           
             0.64                           $
      
               0.53 $
     
           0.42

                                                                                                                                              ---


                                                                
     
         Three Months Ended June 30, 2020



                  (in millions of
                   U.S. dollars,
                   unaudited)               Containership                                  Mobile Power                  Elimination  Total
                                    Leasing                                     Generation                   and Other(4)



                  GAAP Net Earnings                        $
      
       77.5                                   $
             
                7.0        $
      
        (1.8)  $
      
         82.7





     Preferred share
      dividends                                                                                                                                    (16.7)          (16.7)


     Gain on sale                                                                                                              (0.6)                                (0.6)


     Unrealized change
      in fair value of
      derivative
      instruments                                                   2.1                                                                                                2.1


     Change in
      contingent
      consideration
      asset(2)                                                                                                                                        0.7              0.7


     Loss on foreign
      currency
      repatriation(3)                                                                                                            4.6                                   4.6


     Depreciation and
      amortization                                                 72.7                                                          15.8                                  88.5



                  FFO                                     $
      
       152.3                                  $
             
                26.8       $
      
        (17.8) $
      
         161.3




     (1) APR's contribution for the quarter ended March 31,
            2020 is limited to the period from and including
            February 29, 2020, the day after the closing of
            the acquisition, to March 31, 2020.



     (2) The change in contingent consideration asset
            relates to the mark to market impact of contingent
            consideration related to the acquisition of APR
            Energy. Pursuant to the acquisition agreement, the
            sellers of APR Energy agreed to compensate the
            Company for losses on cash repatriation from a
            foreign jurisdiction related to cash generated
            from specified contracts less relevant costs (the
            "Contingent Asset Arrangement"). The
            indemnification will end on April 30, 2022 or
            earlier if certain other conditions in the
            agreement are met. The value of compensation
            receivable from the sellers is accounted for as a
            contingent consideration asset.



     (3) Loss on foreign currency repatriation relates to
            losses recognized on cash repatriation from a
            foreign jurisdiction, where compensation is
            receivable through the Contingent Asset
            Arrangement. Compensation is made by the sellers
            in cash or return of previously issued equity,
            which is offset against the contingent
            consideration asset when received and therefore,
            is not reflected in the income statement.



     (4) Elimination and other include amounts relating to
            preferred shares, corporate headquarters and
            elimination of intercompany transactions.


                                                           
              
                ATLAS CORP.


                                                         
              
                ADJUSTED EBITDA




                                                  
        
          Three Months Ended



                   (in millions of   June 30,                                                    March 31,                 June 30,
                    U.S. dollars,       2020                                                       2020(1)                      2019
                    unaudited)

                                                                                                                                ---

                   GAAP Net Earnings           $
        
          82.7                                            $
      
         51.9            $
      
          40.0





     Interest expense                                    50.8                                                      49.5                       58.0



     Interest income                                    (1.1)                                                    (1.4)                     (3.1)



     Income tax expense                                   6.1                                                       1.9                        0.3


      Depreciation and amortization                       88.5                                                      72.2                       63.4



     Gain on sale                      (0.6)


      Loss on derivative
       instruments                                         7.0                                                      24.8                       14.4


      Change in contingent
       consideration asset(2)                              0.7                                                     (3.3)


      Loss on foreign currency
       repatriation(3)                    4.6



     Other expenses                                       0.2                                                       0.8                        0.8



                   Adjusted EBITDA            $
        
          238.9                                           $
      
         196.4           $
      
          173.8

                                                                                                                                                ---


                                                                
     
         Three Months Ended June 30, 2020



                  (in millions of
                   U.S. dollars,
                   unaudited)               Containership                                  Mobile Power                  Elimination  Total
                                    Leasing                                     Generation                   and Other(4)



                  GAAP Net Earnings                        $
      
       77.5                                   $
             
                7.0       $
     
     (1.8)  $
      
        82.7




     Interest expense                                              45.9                                                           6.2            (1.3)           50.8


     Interest income                                              (0.3)                                                        (0.8)                          (1.1)


     Income tax expense                                             0.3                                                           5.8                             6.1


     Depreciation and
      amortization                                                 72.7                                                          15.8                            88.5


     Gains on sale                                                                                                             (0.6)                          (0.6)


     Loss on derivative
      instruments                                                   7.0                                                                                          7.0


     Change in
      contingent
      consideration
      asset(2)                                                                                                                                   0.7             0.7


     Loss on foreign
      currency
      repatriation(3)                                                                                                            4.6                             4.6


     Other expenses                                                 0.2                                                                                          0.2



                  Adjusted EBITDA                         $
      
       203.3                                  $
             
                38.0       $
     
     (2.4) $
      
        238.9




     (1) APR's contribution for the quarter ended March 31,
            2020 is limited to the period from and including
            February 29, 2020, the day after the closing of
            the acquisition, to March 31, 2020.



     (2) The change in contingent consideration asset
            relates to the mark to market impact of contingent
            consideration related to the acquisition of APR
            Energy. Pursuant to the acquisition agreement, the
            sellers of APR Energy agreed to compensate the
            Company for losses on cash repatriation from a
            foreign jurisdiction related to cash generated
            from specified contracts less relevant costs (the
            "Contingent Asset Arrangement"). The
            indemnification will end on April 30, 2022 or
            earlier if certain other conditions in the
            agreement are met. The value of compensation
            receivable from the sellers is accounted for as a
            contingent consideration asset.



     (3) Loss on foreign currency repatriation relates to
            losses recognized on cash repatriation from a
            foreign jurisdiction, where compensation is
            receivable through the Contingent Asset
            Arrangement. Compensation is made by the sellers
            in cash or return of previously issued equity,
            which is offset against the contingent
            consideration asset when received and therefore,
            is not reflected in the income statement.



     (4) Elimination and other include amounts relating to
            preferred shares, corporate headquarters and
            elimination of intercompany transactions.


                                                                           
             
                ATLAS CORP.


                                                                    
            
                NET DEBT TO ADJUSTED EBITDA




                   (in millions of                                                                                March 31,
                    U.S. dollars,                                                                                  2020(1)
                    unaudited)                 June 30, 2020                                                                                June 30, 2019

                                                                                                                                                      ---

      Long-term debt                                                  $
            3,546.5                                                $
              3,588.1            $
           3,042.4


      Other financing arrangements                                              671.2                                                              520.7                       615.4


      Deferred financing fee                                                     50.8                                                               48.8                        40.0



                   Total Borrowings                                           4,268.5                                                            4,157.6                     3,697.8


      Debt discount and fair value
       adjustment                                                               141.1                                                              146.2                       160.9


      Cash and cash equivalents                                               (221.8)                                                           (213.7)                    (592.4)



     Restricted cash                                                          (39.7)                                                            (58.8)                     (15.5)



                   Net Debt                                  $
          
              4,148.1                                          $
       
                4,031.3      $
       
             3,250.8




                                                                  
          
              Twelve Months Ended



                   (in millions of                                                                                March 31,
                    U.S. dollars,                                                                                  2020(1)
                    unaudited)                 June 30, 2020                                                                                June 30, 2019

                                                                                                                                                      ---

                   Net Earnings                                         $
            248.4                                                  $
              205.6              $
           468.4



     Interest expense                                                          201.2                                                              208.4                       233.9



     Interest income                                                           (5.5)                                                             (7.5)                      (8.7)



     Income tax expense                                                          8.6                                                                2.8                         0.6


      Depreciation and amortization                                             289.0                                                              264.0                       255.7



     Gain on sale                                     (0.6)


      Loss on derivative instruments                                             51.4                                                               58.8                        25.3


      Change in contingent
       consideration asset(2)                                                   (2.6)                                                             (3.3)


      Loss on foreign currency
       repatriation(3)                                   4.6



     Other expenses                                                              1.8                                                                2.4                         2.5



                   Adjusted EBITDA                             $
          
              796.3                                            $
       
                731.2        $
       
             977.7

                                                                                                                                                                                 ---



                   Net Debt to Adjusted EBITDA          5.2x                                                                5.5x                           3.3x




     (1) APR's contribution for the quarter ended March 31,
            2020 is limited to the period from and including
            February 29, 2020, the day after the closing of
            the acquisition, to March 31, 2020.



     (2) The change in contingent consideration asset
            relates to the mark to market impact of contingent
            consideration related to the acquisition of APR
            Energy. Pursuant to the acquisition agreement, the
            sellers of APR Energy agreed to compensate the
            Company for losses on cash repatriation from a
            foreign jurisdiction related to cash generated
            from specified contracts less relevant costs (the
            "Contingent Asset Arrangement"). The
            indemnification will end on April 30, 2022 or
            earlier if certain other conditions in the
            agreement are met. The value of compensation
            receivable from the sellers is accounted for as a
            contingent consideration asset.



     (3) Loss on foreign currency repatriation relates to
            losses recognized on cash repatriation from a
            foreign jurisdiction, where compensation is
            receivable through the Contingent Asset
            Arrangement. Compensation is made by the sellers
            in cash or return of previously issued equity,
            which is offset against the contingent
            consideration asset when received and therefore,
            is not reflected in the income statement.


                                                                                 
             
                ATLAS CORP.


                                                                           
             
                SUPPLEMENTAL INFORMATION


                                                                
              
               FUTURE CONTRACTED REVENUE AS AT JUNE 30, 2020





     The following table shows the committed revenue by type for the future period:


                                                                               
             
                June 30, 2020



                   (in millions of                            Containership                                                          Mobile Power
                     U.S. dollars,                              Leasing(1)                                                            Generation
                        unaudited)                                                                                                                       Total

                                                                                                                                                            ---

      Remainder of
       2020                                                                                 $
              582.9                                         $
       122.9            $
         705.8



     2021                                                                                          1,020.4                                              152.9                 1,173.3



     2022                                                                                            798.3                                               88.7                   887.0



     2023                                                                                            570.6                                               38.1                   608.7



     2024                                                            406.1                                                                                      406.1



     Thereafter                                                      693.5                                                                                      693.5



                   Total                                                      $
             
                4,071.8                                     $
     
         402.6       $
     
          4,474.4

                                                                                                                                                                                   ---




              (1)              Ending contracted revenue is as
                                  at June 30, 2020 and does not
                                  include the two vessels expected
                                  to be delivered in Q3 2020.


                                                                                                                 
       
                ATLAS CORP.


                                                                                                           
           
            SUPPLEMENTAL INFORMATION


                                                                                                    
              
         ASSET FLEET DETAIL AS AT JUNE 30, 2020





         The following table summarizes key facts regarding Seaspan's fleet as of June 30, 2020:


                       Vessel Class                             # Vessels                           # Vessels                                   Average
                                                                  (Total                          (unencumbered)                                   Age
                                                                  Fleet)                                                                       (Years)(7)                 Average               Average             Days               Total
                                                                                                                                                            Remaining                 Daily
                                                                                                                                                                                       Charter                Off-           Ownership
                    
              
                (TEU)                                                                                                            Charter                 Rate (in
                                                                                                                                                                                      thousands
                                                                                                                                                                                       of USD)              Hire(5)           Days(6)
                                                                                                                                                              Period
                                                                                                                                                            (Years)(1)(7)

    ---                                                                                                                                                                                                                                  ---

        
             2500-3500                                            14                                       6                                      12.1                      0.7                   11.2               34                 1,274


                 4250-5100(2)                                          33                                      18                                      13.1                      0.7                   11.2              138                 3,003


                 8500-9600(3)                                          16                                       2                                      10.5                      3.2                   33.4               39                 1,455


                10000-11000(4)                                         33                                       2                                       4.7                      4.5                   31.5               49                 3,003


                 12000-13100                                           12                                       0                                       6.6                      3.8                   50.3                1                 1,039


          
              14000+                                           15                                       2                                       4.6                      5.3                   48.3               25                 1,365

                                                                                                                                                                                                                                         ---

                       Total/Average                                  123                                      30                                       7.2                      3.7                   31.0              285                11,139

                                                                                                                                                                                                                                         ---




              (1)              Excludes options to extend charter.



              (2)              Includes 1 vessel on bareboat charter.



              (3)              Includes 3 vessels on bareboat charter.



              (4)              Includes 8 vessels on bareboat charter.



              (5)              Days Off-Hire includes scheduled and
                                  unscheduled days related to vessels being
                                  off-charter. For the three months ended
                                  June 30, 2020.



              (6)              Total Ownership Days for time charters and
                                  bareboat charters exclude days prior to the
                                  initial charter hire date. For the three
                                  months ended June 30, 2020.



              (7)              Averages shown are weighted by TEU.


                       
        The following table summarizes key facts regarding APR's mobile power fleet as of June 30, 2020:




               Asset      Fleet                                      Contracted                                       Contracted                        Average
                Type       Size                                         Fleet                                           Revenue                        Remaining
                     (MW)                                   (MW)                                                                               Term
                                                                                                                                            (Years)(1)
                                                                                                                    (USD millions)

    ---

        Mobile
        Power
        Fleet             1,407                                            1,131                                                   $
     402.6                      1.6




              (1)              Average
                                  remaining
                                  contract
                                  term
                                  excludes
                                  extensions;
                                  weighted by
                                  MW
                                  installed.


              
              
                ATLAS CORP.


                               SUPPLEMENTAL INFORMATION


           
              
                ASSET UTILIZATION


                            Seaspan Vessel Utilization


               The following table summarizes Vessel
                Utilization for the quarter ended June 30,
                2020, and its comparative quarters.




               Vessel Utilization decreased 1.4% for the
                quarter ended June 30, 2020, compared with
                the same period in 2019. 1.3% of the
                decrease in utilization was due to an
                increase in Scheduled Dry-Docking days.



                                        2018                2019         2020



                                     Q3        Q4        Q1         Q2        Q3         Q4          Q1   Q2



                  Vessel
                   Utilization:


     Total Ownership
      Days(1)(2)                        10,304    10,304          10,080          10,192      10,304       10,314      10,715       11,139


     Less Off-Hire
      Days:


     Scheduled Dry
      Docking                              (8)     (22)           (13)           (54)       (36)        (59)      (131)       (195)


     Unscheduled Off-
      Hire(3)                            (146)    (240)          (166)           (71)        (3)        (36)       (90)        (90)



                  Ownership Days On-
                   Hire(4)              10,150    10,042           9,901          10,067      10,265       10,219      10,494       10,854





                  Vessel Utilization      98.5      97.5            98.2            98.8        99.6         99.1        97.9         97.4


                                             %        %              %              %          %           %          %           %




              (1)              Ownership Days include
                                  time charters and
                                  bareboat charters and
                                  exclude days prior to
                                  the initial charter
                                  hire date.



              (2)              Ownership Days are the
                                  number of days a
                                  vessel is owned and
                                  available for
                                  charter. The primary
                                  driver of Ownership
                                  Days is the increase
                                  or decrease in the
                                  number of vessels in
                                  the fleet.



              (3)              Unscheduled off-hire
                                  includes days related
                                  to vessels being off-
                                  charter.



              (4)              Ownership Days On-
                                  Hire are the number
                                  of days a vessel is
                                  available to the
                                  charterer for use.


                            APR Power Fleet Utilization


               The following table summarizes the
                Power Fleet Utilization for the
                quarter ended June 30, 2020, and its
                comparative quarters.




               Power Fleet Utilization increased for
                the quarter ended June 30, 2020,
                compared with the quarter ended March
                31, 2020. The increase was primarily
                due to the commencement of two
                projects in Mexicali, Baja California,
                Mexico.

                                                2018               2019       2020



                                             Q3        Q4       Q1       Q2        Q3       Q4       Q1 Q2





                                 Power Fleet


     Average
      Megawatt On-
      Hire(1)                                    1,332    1,413         1,203         1,180    1,300      1,075     934     966


     Average
      Megawatt
      Capacity(2)                                1,994    1,863         1,653         1,633    1,604      1,536   1,428   1,413



                  Power Fleet                     66.8     75.8          72.8          72.3     81.0       70.0    65.4    68.4
                   Utilization(3)

                                                     %       %            %            %       %         %      %       %




              (1)              Average
                                  Megawatt On-
                                  Hire is the
                                  amount of
                                  capacity that
                                  is under
                                  contract and
                                  available to
                                  the customer
                                  for use post
                                  COD.



              (2)              Average
                                  Megawatt
                                  Capacity is
                                  the average
                                  maximum
                                  megawatts
                                  that can be
                                  generated by
                                  the power
                                  fleet.



              (3)              Power fleet
                                  utilization
                                  in
                                  comparative
                                  periods has
                                  been adjusted
                                  to reflect
                                  average
                                  utilization
                                  during the
                                  quarter.


             
              
                ATLAS CORP.


                               SUPPLEMENTAL INFORMATION


                                OPERATING COST PER DAY


               The following table summarizes Seaspan's
                operating cost per day for the last eight
                quarters:

                  (in millions of
                   US dollars,
                   except for
                   days and cost
                   per day,
                   unaudited)                2018                       2019                2020



                                  Q3                Q4               Q1              Q2          Q3               Q4               Q1         Q2



                  Operating Cost:


     Time Charter
      Ownership
      Days(1)                                 9,844            9,844                  9,630                 9,737            9,844               9,791         9,646         10,047


     Vessel
      Operating
      Costs                               $
       55.4         $
      55.6              $
       57.7              $
      55.9         $
      56.8         $
         59.4      $
      56.8      $
       56.7



                  Operating Cost
                   per Day(2)        $
     
         5,624    $
     
        5,648         $
     
         5,993         $
     
        5,743    $
     
        5,770    $
     
           6,067 $
     
        5,888 $
     
         5,643


     __________________________



     (1)              Time Charter Ownership Days include leased vessels and
                         exclude vessels under bareboat charter; bareboat charters
                         are not operated by Seaspan and thus have no operating
                         expense associated with them.



     (2)              Operating Cost per Day relates to vessels on time charter.


                                                                            
              
             ATLAS CORP.


                                                                         
          
             SUPPLEMENTAL INFORMATION


                                                                            
              
             BORROWINGS




                                                                 
      
          As at June 30,



                                                            2019                                                    2020



                   (in millions of U.S. dollars,
                    unaudited)                   
     
        Total                                              Interest                     Years to
                                                                                               Rate (2)                     Maturity(3)
                                                     Outstanding






     Credit facilities(1)(7)                                         $
        2,656.3                                            $
             3,047.9 2.7

                                                                                                                                                  %    4.00


      Senior unsecured notes(4)(7)                                             80.0                                                          80.0 7.1

                                                                                                                                                  %    7.32



     Fairfax notes(5)(7)                                                     500.0                                                         600.0 5.5

                                                                                                                                                  %    5.35


      Debt discount and fair value
       adjustment                                                           (160.9)                                                      (141.1)


      Other financing arrangements(6)(7)                                      622.4                                                         681.7 3.4

                                                                                                                                                  %   12.11



                   Total borrowings                              $
      
          3,697.8                                      $
       
               4,268.5




              (1)              As of June 30, 2020, $2,774.0 million was
                                  secured by vessels.



              (2)              As at June 30, 2020, three month average
                                  LIBOR on the revolving facilities and term
                                  loan credit facilities were 0.3% and 1.2%
                                  respectively.



              (3)              Represents maturity date for credit
                                  facilities and notes; represents purchase
                                  obligation date for other financing
                                  arrangements.



              (4)              These are the 7.125% senior unsecured notes
                                  due 2027.



              (5)              These are the 5.50% senior notes due 2025,
                                  2026 and 2027.



              (6)              These are the long-term obligations under
                                  other financing arrangements.



              (7)              These exclude deferred financing fees.

Definitions and Non-GAAP Financial Measures

This release includes various financial measures that are non-GAAP financial measures as defined under the rules of the SEC. These non-GAAP financial measures which include FFO, FFO Per Share, Diluted (FFO Per Share), and Adjusted EBITDA, are intended to provide additional information and should not be considered substitutes for measures of performance prepared in accordance with GAAP.

FFO and FFO Per Share represents net earnings adjusted for depreciation and amortization, gain on sale, unrealized change in fair value of derivative instruments, loss on foreign currency repatriation, change in contingent consideration asset and certain other items that the Company believes are not representative of its operating performance. FFO and FFO Per Share is a useful performance measure because it excludes those items that the Company believes are not representative of its performance. Please refer to the Funds From Operation section of this release for a reconciliation of these non-GAAP financial measures to net earnings attributable to shareholders.

FFO and FFO Per Share are not defined by GAAP and should not be considered as an alternative to net earnings attributable to shareholders, earnings per share or any other indicator of the Company's performance required to be reported by GAAP. In addition, this measure may not be comparable to similar measures presented by other companies.

Adjusted EBITDA represents net income before interest, taxes, depreciation and amortization, impairments, write-down and loss on sale, unrealized gains/(losses) on derivative instruments, loss on foreign currency repatriation, realized losses on interest rate swaps, realized losses on interest rate swap amendments and terminations, and change in contingent consideration asset.

Adjusted EBITDA provides useful information to investors in assessing the Company's results of operations. The Company believes that this measure is useful in assessing performance and highlighting trends on an overall basis. The Company also believes that this performance measure can be useful in comparing its results with those of other companies, even though other companies may not calculate this measure in the same way. The GAAP measure most directly comparable to Adjusted EBITDA is net earnings. Adjusted EBITDA is not defined by GAAP and should not be considered as an alternative to net earnings or any other indicator of the Company's performance required to be reported by GAAP.

The Company is unable to provide reconciliations of forward-looking Adjusted EBITDA to their most directly comparable GAAP financial measures on a forward-looking basis without unreasonable effort because items that impact those GAAP financial measures are out of the Company's control and/or cannot be reasonably predicted. These items include, but are not limited to, income tax expense, gain on sale, loss on derivative instruments, change in contingent consideration asset and loss on foreign currency repatriation. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

Net Debt represents total borrowings before debt discount and fair value adjustments, net of cash and cash equivalents and restricted cash. Total Borrowings represents long-term debt and other financing arrangements, excluding deferred financing fees.

Net Debt and Total Borrowings provide useful information to investors in assessing the Company's leverage. The Company believes this measure is useful in assessing the Company's ability to settle contracted debt payments. The Company also believes that this leverage measurement can be useful in comparing its position with those of other companies, even though other companies may not calculate this measure in the same way. The GAAP measure most directly comparable to Net Debt and Total Borrowings is the total of long-term debt and other financing arrangements. Net debt and Total Borrowings are not defined by GAAP and should not be considered as an alternative to long-term debt and other financing arrangements or any other indicator of the Company's financial position required to be reported by GAAP.

STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act) concerning Atlas' operations, cash flows, and financial position, including, without limitation, Atlas' financial guidance and its ability to grow its business over the near and long-term. Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "will," "may," "potential," "should" and similar expressions are forward?looking statements. These forward-looking statements represent Atlas' estimates and assumptions only as of the date of this release and are not intended to give any assurance as to future results. As a result, you are cautioned not to rely on any forward-looking statements. Forward-looking statements appear in a number of places in this release. Although these statements are based upon assumptions Atlas believes to be reasonable based upon available information, they are subject to risks and uncertainties. These risks and uncertainties include, but are not limited to:

    --  Atlas' future operating and financial results;
    --  Atlas' growth prospects;
    --  Atlas' business strategy and capital allocation plans, and other plans
        and objectives for future operations;
    --  Atlas' primary sources of funds for short, medium and long-term
        liquidity needs;
    --  potential acquisitions, financing arrangements and other investments,
        and the expected benefits from such transactions;
    --  Atlas' financial condition and liquidity, including its ability to
        borrow and repay funds under its credit facilities, its ability to
        obtain waivers or secure acceptable replacement charters under the
        credit facilities, its ability to refinance existing facilities and
        notes and to obtain additional financing in the future to fund capital
        expenditures, acquisitions and other general corporate activities;
    --  conditions in the public equity market and the price of Atlas' shares;
    --  changes in governmental rules and regulations or actions taken by
        regulatory authorities, and the effect of governmental regulations on
        Atlas' business;
    --  the financial condition of Seaspan's and APR's customers, lenders and
        other counterparties and their ability to perform their obligations
        under their agreements with Seaspan and APR, respectively;
    --  the continued ability to meet specified restrictive covenants in Atlas'
        and its subsidiaries' financing and lease arrangements, notes and
        preferred shares;
    --  any economic downturn in the global financial markets and potential
        negative effects of any recurrence of such disruptions on the demand for
        the services of Seaspan's containerships or APR's mobile power solutions
        or on our customers' ability to charter our vessels, lease our power
        generation assets and pay for our services;
    --  the length and severity of the recent novel coronavirus (COVID-19)
        outbreak and its impact on Atlas' business;
    --  a major customer experiencing financial distress, particularly related
        to the COVID-19 pandemic;
    --  disruptions in global credit and financial markets as the result of the
        COVID-19 pandemic;
    --  Atlas' expectations as to impairments of Seaspan's vessels and power
        generation assets, including the timing and amount of potential
        impairments;
    --  the future valuation of Seaspan's vessels, APR's power generation assets
        and goodwill;
    --  future time charters and vessel deliveries, including future long-term
        charters for certain existing vessels;
    --  estimated future capital expenditures needed to preserve the operating
        capacity of Seaspan's containership fleet and comply with regulatory
        standards, as well as Atlas' expectations regarding future dry-docking
        and operating expenses, including ship operating expense and expenses
        related to performance under our contracts for the supply of power
        generation capacity, and general and administrative expenses;
    --  expectations about the availability of vessels to purchase and the
        useful lives of Seaspan's vessels;
    --  availability of crew, number of off-hire days and dry-docking
        requirements;
    --  general market conditions and shipping market trends, including charter
        rates and other factors affecting supply and demand;
    --  Seaspan's continued ability to maintain, enter into or renew primarily
        long-term, fixed-rate time charters for its vessels and leases of our
        power generation assets;
    --  the potential for early termination of long-term time charters and
        Seaspan's potential inability to enter into, renew or replace long-term
        time charters;
    --  Seaspan's ability to leverage to its advantage its relationships and
        reputation in the containership industry;
    --  the values of Seaspan's vessels and other factors or events that trigger
        impairment assessments or results;
    --  taxation of Atlas and of distributions to its shareholders;
    --  Atlas' exemption from tax on U.S. source international transportation
        income;
    --  the continued availability of services, equipment and software from
        subcontractors or third-party suppliers required to provide APR's power
        generation solutions;
    --  APR's ability to protect its intellectual property and defend against
        possible third-party infringement claims relating to its power
        generation solutions;
    --  potential liability from future litigation; and
    --  other factors detailed from time to time in Atlas' periodic reports.

Forward-looking statements in this release are estimates and assumptions reflecting the judgment of senior management and involve known and unknown risks and uncertainties. These forward-looking statements are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond Atlas' control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Accordingly, these forward-looking statements should be considered in light of various important factors listed above and including, but not limited to, those set forth in "Item 3. Key Information--D. Risk Factors" in Atlas' Annual Report for the year ended December 31, 2019 on Form 20-F filed on April 13, 2020 and in the "Risk Factors" in Reports on Form 6-K that are filed with the Securities and Exchange Commission from time to time relating to its quarterly financial results.

Atlas does not intend to revise any forward-looking statements in order to reflect any change in its expectations or events or circumstances that may subsequently arise. Atlas expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in Atlas' views or expectations, or otherwise. You should carefully review and consider the various disclosures included in Atlas' Annual Report and in Atlas' other filings made with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect Atlas' businesses, prospects and results of operations.

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SOURCE Atlas Corp