 Sustainable Performance Improvements Delivered as Growth Resumes in Industrial Segments, Margins Remain Strong, and Cash Balances Improve DECATUR, AL ACCESSWIRE June 9, 2021 Lakeland Industries, Inc. NASDAQ:LAKE the Company or Lakeland, a leading global manufacturer of protective clothing for industry, healthcare and to first responders on the federal, state and local levels, today announced financial results for its fiscal 2022 first quarter ended April 30, 2021. Fiscal 2022 First Quarter Financial Results Highlights Net sales for 1Q22 of 34.1 million, compared with 1Q21 of 45.6 million and 36.9 million in 4Q21 COVID-19 demand contributed sales of approximately 4.4 million in 1Q22 Traditional industrial economic growth strengthening as COVID-19 related sales decline; international markets continue to outpace domestic growth High Performance Wear, Fire and Woven product lines in 1Q22 increase over 1Q21 when PPE demand initially shifted to Disposables and Chemical garments for COVID-19 Gross profit for 1Q22 of 14.4 million, compared with 22.1 million in 1Q21 Gross margin as a percentage of net sales in 1Q22 was 42.2, compared to 48.6 in 1Q21 Operating expenses of 8.1 million in 1Q22, down from 9.8 million in 1Q21 and 8.8 million in 4Q21 Operating profit of 6.2 million in 1Q22, compared with 12.4 million in 1Q21 Net income of 4.6 million or 0.580.57 per basicdiluted common share in 1Q22, from 8.6 million or 1.081.07 per basicdiluted common share in 1Q21 Adjusted earnings before interest, taxes, depreciation, and amortization Adjusted EBITDA of 7.1 million in 1Q22, compared with 12.9 million in 1Q21 Capital expenditures for 1Q22 of 0.1 million, down from 0.2 million in 1Q21 Solid current ratio of 7.8:1 at 43021 No shares were acquired in 1Q22 as part of the Companys 5.0 million stock repurchase program Performance Bolstered by Sustainable Improvements Investments in digital transformation: ERP, CRM and IT systems Operating leverage opportunities through fixed and variable cost benefits Improved working capital and cash management Growth Strategy Advancements Cash of 60.3 million at 43021, up by 7.7 million or 15 from beginning of fiscal year No debt at end of first quarter with up to 17.5 million available under credit facilities Filled newly created position for VP of Corporate Development Investments in IT and capacity expansion provide fixed cost absorption and margin enhancement opportunities EBITDA and Adjusted EBITDA are non-GAAP financial measures. 