Exhibit 99.2

Interim Condensed Consolidated Financial Statements of

CGI INC.

For the three and nine months ended June 30, 2024 and 2023

(unaudited)

Interim Consolidated Statements of Earnings

For the three and nine months ended June 30

(in thousands of Canadian dollars, except per share data) (unaudited)

		Three months ended June 30					Nine months ended June 30
	Notes	2024			2023		2024		2023
			$			$		$		$
Revenue	10		3,671,977			3,623,428		11,015,761		10,789,024
Operating expenses
Costs of services, selling and administrative			3,070,655			3,037,083		9,199,955		9,050,008
Acquisition-related and integration costs	8d		100			13,032		2,423		53,401
Cost optimization program	6		—			—		91,063		—
Net finance costs	7		8,765			12,808		23,495		46,315
Foreign exchange (gain) loss			(1,510	)		1,524		286		(686	)
			3,078,010			3,064,447		9,317,222		9,149,038
Earnings before income taxes			593,967			558,981		1,698,539		1,639,986
Income tax expense			153,843			144,002		441,747		423,213
Net earnings			440,124			414,979		1,256,792		1,216,773
Earnings per share
Basic earnings per share	5c		1.94			1.78		5.49		5.18
Diluted earnings per share	5c		1.91			1.75		5.40		5.11

See Notes to the Interim Condensed Consolidated Financial Statements.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 1

Interim Consolidated Statements of Comprehensive Income

For the three and nine months ended June 30

(in thousands of Canadian dollars) (unaudited)

	Three months ended June 30						Nine months ended June 30
	2024			2023			2024			2023
		$			$			$			$
Net earnings		440,124			414,979			1,256,792			1,216,773
Items that will be reclassified subsequently to net earnings (net of income taxes):
Net unrealized gains (losses) on translating financial statements of foreign operations		106,602			(211,361	)		222,132			211,936
Net (losses) gains on cross-currency swaps and on translating long-term debt designated as hedges of net investments in foreign operations		(20,936	)		49,624			(50,555	)		(31,341	)
Deferred gains (costs) of hedging on cross-currency swaps		5,746			(12,876	)		6,947			(4,106	)
Net unrealized gains (losses) on cash flow hedges		6,346			(2,559	)		5,746			(19,206	)
Net unrealized gains (losses) on financial assets at fair value through other comprehensive income		368			(738	)		2,238			647
Items that will not be reclassified subsequently to net earnings (net of income taxes):
Net remeasurement (losses) gains on defined benefit plans		(7,877	)		(12,231	)		2,220			(13,712	)
Other comprehensive income (loss)		90,249			(190,141	)		188,728			144,218
Comprehensive income		530,373			224,838			1,445,520			1,360,991

See Notes to the Interim Condensed Consolidated Financial Statements.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 2

Interim Consolidated Balance Sheets

(in thousands of Canadian dollars) (unaudited)

	Notes		As at June 30, 2024		As at September 30, 2023
				$		$
Assets
Current assets
Cash and cash equivalents		9c and 11		1,155,400		1,568,291
Accounts receivable				1,483,900		1,425,117
Work in progress				1,191,867		1,143,685
Current financial assets		11		45,912		103,463
Prepaid expenses and other current assets				216,992		198,377
Income taxes				3,216		6,067
Total current assets before funds held for clients				4,097,287		4,445,000
Funds held for clients				540,608		488,727
Total current assets				4,637,895		4,933,727
Property, plant and equipment				370,885		389,276
Right-of-use assets				456,965		482,321
Contract costs				331,852		308,446
Intangible assets				602,498		623,103
Other long-term assets				101,774		84,776
Long-term financial assets				171,947		147,968
Deferred tax assets				175,296		105,432
Goodwill				8,944,799		8,724,450
				15,793,911		15,799,499
Liabilities
Current liabilities
Accounts payable and accrued liabilities				881,655		924,659
Accrued compensation and employee-related liabilities				1,145,040		1,100,566
Deferred revenue				576,979		488,761
Income taxes				166,376		250,869
Current portion of long-term debt				480,058		1,158,971
Current portion of lease liabilities				177,421		198,857
Provisions				37,575		24,965
Current derivative financial instruments		11		2,649		4,513
Total current liabilities before clients’ funds obligations				3,467,753		4,152,161
Clients’ funds obligations				542,738		493,638
Total current liabilities				4,010,491		4,645,799
Long-term debt				1,957,403		1,941,350
Long-term lease liabilities				430,721		443,106
Long-term provisions				18,728		19,198
Other long-term liabilities				282,177		243,592
Long-term derivative financial instruments		11		1,339		1,700
Deferred tax liabilities				15,548		31,081
Retirement benefits obligations				179,896		163,379
				6,896,303		7,489,205
Equity
Retained earnings				6,739,886		6,329,107
Accumulated other comprehensive income		4		347,703		158,975
Capital stock		5a		1,450,952		1,477,180
Contributed surplus				359,067		345,032
				8,897,608		8,310,294
				15,793,911		15,799,499

See Notes to the Interim Condensed Consolidated Financial Statements.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 3

Interim Consolidated Statements of Changes in Equity

For the nine months ended June 30

(in thousands of Canadian dollars) (unaudited)

	Notes		Retained earnings			Accumulated other comprehensive income		Capital stock			Contributed surplus			Total equity
				$			$		$			$			$
Balance as at September 30, 2023				6,329,107			158,975		1,477,180			345,032			8,310,294
Net earnings				1,256,792			—		—			—			1,256,792
Other comprehensive income				—			188,728		—			—			188,728
Comprehensive income				1,256,792			188,728		—			—			1,445,520
Share-based payment costs				—			—		—			50,601			50,601
Income tax impact associated with share-based payments				—			—		—			4,245			4,245
Exercise of stock options		5a		—			—		70,066			(11,580	)		58,486
Exercise of performance share units		5a		775			—		13,575			(29,231	)		(14,881	)
Purchase for cancellation of Class A subordinate voting shares		5a		(846,788	)		—		(43,022	)		—			(889,810	)
Purchase of Class A subordinate voting shares held in trusts		5a		—			—		(66,847	)		—			(66,847	)
Balance as at June 30, 2024				6,739,886			347,703		1,450,952			359,067			8,897,608
	Notes		Retained earnings			Accumulated other comprehensive income		Capital stock			Contributed surplus			Total equity
				$			$		$			$			$
Balance as at September 30, 2022				5,425,005			39,746		1,493,169			314,804			7,272,724
Net earnings				1,216,773			—		—			—			1,216,773
Other comprehensive income				—			144,218		—			—			144,218
Comprehensive income				1,216,773			144,218		—			—			1,360,991
Share-based payment costs				—			—		—			45,734			45,734
Income tax impact associated with share-based payments				—			—		—			15,999			15,999
Exercise of stock options		5a		—			—		90,991			(15,202	)		75,789
Exercise of performance share units		5a		(2,880	)		—		13,657			(24,627	)		(13,850	)
Purchase for cancellation of Class A subordinate voting shares		5a		(411,714	)		—		(41,348	)		—			(453,062	)
Unrealized commitment to purchase Class A subordinate voting shares				1,276			—		103			—			1,379
Purchase of Class A subordinate voting shares held in trusts		5a		—			—		(74,455	)		—			(74,455	)
Balance as at June 30, 2023				6,228,460			183,964		1,482,117			336,708			8,231,249

See Notes to the Interim Condensed Consolidated Financial Statements.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 4

Interim Consolidated Statements of Cash Flows

For the three and nine months ended June 30

(in thousands of Canadian dollars) (unaudited)

			Three months ended June 30						Nine months ended June 30
	Notes		2024			2023			2024			2023
				$			$			$			$
Operating activities
Net earnings				440,124			414,979			1,256,792			1,216,773
Adjustments for:
Amortization, depreciation and impairment				131,535			126,271			413,809			381,551
Deferred income tax recovery				(27,236	)		(27,840	)		(89,077	)		(92,503	)
Foreign exchange (gain) loss				(4,832	)		1,218			(6,533	)		(537	)
Share-based payment costs				18,921			12,540			50,601			45,734
Gain on lease terminations				—			(26	)		—			(3,065	)
Net change in non-cash working capital items and others		9a		(61,787	)		(118,032	)		(49,670	)		(64,438	)
Cash provided by operating activities				496,725			409,110			1,575,922			1,483,515
Investing activities
Net change in short-term investments				112,866			(78,326	)		84,055			(76,857	)
Business acquisitions (net of cash acquired)		8		(764	)		(9,041	)		(50,155	)		(13,039	)
Loan receivable				1,898			1,701			5,520			(17,600	)
Purchase of property, plant and equipment				(27,878	)		(37,597	)		(86,348	)		(125,314	)
Additions to contract costs				(22,691	)		(26,233	)		(71,865	)		(77,497	)
Additions to intangible assets				(40,569	)		(37,673	)		(120,850	)		(99,235	)
Purchase of long-term investments				(6,511	)		(5,275	)		(11,104	)		(93,275	)
Proceeds from sale of long-term investments				10,498			13,631			40,552			33,961
Cash provided by (used in) investing activities				26,849			(178,813	)		(210,195	)		(468,856	)
Financing activities
Increase of long-term debt				—			—			—			948
Repayment of long-term debt		11		(960	)		(3,041	)		(679,085	)		(8,830	)
Settlement of derivative financial instruments		11		—			—			18,087			—
Payment of lease liabilities		11		(40,169	)		(39,203	)		(118,349	)		(117,498	)
Repayment of debt assumed from business acquisition				—			—			—			(56,994	)
Purchase for cancellation of Class A subordinate voting shares		5a		(499,284	)		(53,062	)		(885,399	)		(463,353	)
Issuance of Class A subordinate voting shares		5a		6,841			17,496			58,486			75,789
Purchase of Class A subordinate voting shares held in trusts		5a		—			—			(66,847	)		(74,455	)
Withholding taxes remitted on the net settlement of performance share units		5a		(613	)		(166	)		(14,881	)		(13,850	)
Net change in clients’ funds obligations				14,818			(35,630	)		48,743			69,478
Cash used in financing activities				(519,367	)		(113,606	)		(1,639,245	)		(588,765	)
Effect of foreign exchange rate changes on cash, cash equivalents and cash included in funds held for clients				16,699			(34,536	)		24,008			8,773
Net increase (decrease) in cash, cash equivalents and cash included in funds held for clients				20,906			82,155			(249,510	)		434,667
Cash, cash equivalents and cash included in funds held for clients, beginning of period				1,567,667			1,823,696			1,838,083			1,471,184
Cash, cash equivalents and cash included in funds held for clients, end of period				1,588,573			1,905,851			1,588,573			1,905,851
Cash composition:
Cash and cash equivalents				1,155,400			1,468,832			1,155,400			1,468,832
Cash included in funds held for clients				433,173			437,019			433,173			437,019

See Notes to the Interim Condensed Consolidated Financial Statements.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 5

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

1.    Description of business

CGI Inc. (the Company), directly or through its subsidiaries, provides managed information technology (IT) and business process services, business and strategic IT consulting, and systems integration services, as well as software solutions to help clients effectively realize their strategies and create added value. The Company was incorporated under Part IA of the Companies Act (Québec), predecessor to the Business Corporations Act (Québec) which came into force on February 14, 2011 and its Class A subordinate voting shares are publicly traded. The executive and registered office of the Company is situated at 1350 René-Lévesque Blvd. West, Montréal, Québec, Canada, H3G 1T4.

2.    Basis of preparation

These interim condensed consolidated financial statements have been prepared in accordance with International Accounting Standard (IAS) 34, Interim Financial Reporting, as issued by the International Accounting Standards Board (IASB). In addition, the interim condensed consolidated financial statements have been prepared in accordance with the accounting policies set out in Note 3, Summary of material accounting policies, of the Company’s consolidated financial statements for the year ended September 30, 2023 which were consistently applied to all periods presented, except for the new accounting standard amendments adopted on October 1, 2023, as described below in Note 3, Accounting policies.

These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Company for the year ended September 30, 2023.

The Company’s interim condensed consolidated financial statements for the three and nine months ended June 30, 2024 and 2023 were authorized for issue by the Board of Directors on July 30, 2024.

3.    Accounting policies

ADOPTION OF ACCOUNTING STANDARD

The following standard amendments have been adopted by the Company on October 1, 2023:

Definition of Accounting Estimates – Amendments to IAS 8

In February 2021, the IASB amended IAS 8 Accounting Policies, Changes in Accounting estimates and Errors to introduce a definition of accounting estimates and to help entities distinguish changes in accounting policies from changes in accounting estimates. This distinction is important because changes in accounting policies must be applied retrospectively while changes in accounting estimates are accounted for prospectively.

Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12

In May 2021, the IASB amended IAS 12 Income Taxes, to narrow the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences.

The implementation of these standard amendments resulted in no impact on the Company’s interim condensed consolidated financial statements.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 6

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

3.    Accounting policies (continued)

ADOPTION OF ACCOUNTING STANDARD (CONTINUED)

International Tax Reform – Pillar Two Model Rules – Amendments to IAS 12

On May 23, 2023, the IASB amended IAS 12 Income Taxes, to address the Pillar Two model rules for domestic implementation of a 15% global minimum tax. The standard amendments introduced a temporary recognition exception in relation to accounting and disclosure for deferred taxes arising from the implementation of the international tax reform, which was applied as of that date.

Starting for the reporting period ended March 31, 2024, the Company is subject to additional disclosure requirements on current tax expense related to Pillar Two income taxes, as well as qualitative and quantitative information about the exposure to Pillar Two income taxes. The Company has performed an assessment of its potential exposure to Pillar Two income taxes based on the most recent country-by-country reporting and financial statements for its constituent entities.

The Pillar Two Model Rules – Amendments to IAS 12 have no significant impact on the Company’s interim condensed consolidated financial statements.

FUTURE ACCOUNTING STANDARD CHANGES

The following standard amendments have been issued and will be effective as of October 1, 2024 for the Company, with earlier application permitted. The implementation of these standard amendments will result in no impact on the Company’s consolidated financial statements.

Classification of Liabilities as Current or Non-current and Information about long-term debt with covenants – Amendments to IAS 1

In January 2020, the IASB amended IAS 1 Presentation of Financial Statements, clarifying that the classification of liabilities as current or non-current is based on existing rights at the end of the reporting period, independent of whether the Company will exercise its right to defer settlement of a liability. Subsequently, in October 2022, the IASB introduced additional amendments to IAS 1, emphasizing that covenants for long-term debt, regardless whether the covenants were compliant after the reporting date, should not affect debt classification; instead, companies are required to disclose information about these covenants in the notes accompanying their financial statements.

Supplier Finance Arrangements – Amendments to IAS 7 and IFRS 7

In May 2023, the IASB amended IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures to introduce new disclosure requirements to enhance the transparency on supplier finance arrangements and their impact on the Company’s liabilities, cash flows and liquidity exposure. The new disclosure requirements will include information such as terms and conditions, the carrying amount of liabilities, the range of payment due dates, non-cash changes and liquidity risk information around supplier finance arrangements.

The following standard amendments have been issued and will be effective as of October 1, 2026 for the Company, with earlier application permitted. The Company will evaluate the impact of these standard amendments on its consolidated financial statements.

Classification and measurement of Financial Instruments – Amendments to IFRS 9 and IFRS 7

In May 2024, the IASB issued Amendments to the Classification and Measurement of Financial Instruments, which amend IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures. The standard amendments clarify that a financial liability is derecognized on the settlement date, specifically when the related obligation is discharged or cancelled or expires or the liability otherwise qualified for derecognition. Furthermore, they clarify the treatment of non-recourse assets and contractually linked instruments and they introduce additional disclosures for financial assets and liabilities with contractual terms that reference a contingent event, and equity instruments classified at fair value through other comprehensive income. The new requirements will be applied retrospectively. An entity is required to disclose information about financial assets that change their measurement category due to the standard amendments.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 7

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

3.    Accounting policies (continued)

FUTURE ACCOUNTING STANDARD CHANGES (CONTINUED)

The following standard has been issued by the IASB and will be effective as of October 1, 2027 for the Company, with earlier application permitted. The Company will evaluate the impact of this standard on its consolidated financial statements.

IFRS 18 - Presentation and Disclosure in Financial Statements

In April 2024, the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements which is set to replace IAS 1 Presentation of Financial Statements. The new IFRS accounting standard is aimed to improve comparability and transparency of communication in financial statements. While a number of sections from IAS 1 have been brought forward to IFRS 18, the standard introduces new requirements on presentation within the statement of profit or loss, including specified totals and subtotals. It also requires disclosure of management-defined financial performance measures used in public communications outside financial statements and includes new requirements for aggregation and disaggregation of financial information based on the identified roles of the primary financial statements and the notes. Retrospective application is required in both annual and interim financial statements.

4.    Accumulated other comprehensive income

	As at June 30, 2024			As at September 30, 2023
		$			$
Items that will be reclassified subsequently to net earnings:
Net unrealized gains on translating financial statements of foreign operations, net of accumulated income tax expense of $43,852 ($44,867 as at September 30, 2023)		756,453			534,321
Net losses on cross-currency swaps and on translating long-term debt designated as hedges of net investments in foreign operations, net of accumulated income tax recovery of $54,097 ($49,991 as at September 30, 2023)		(376,204	)		(325,649	)
Deferred gains of hedging on cross-currency swaps, net of accumulated income tax expense of $3,096 ($1,754 as at September 30, 2023)		20,488			13,541
Net unrealized gains on cash flow hedges, net of accumulated income tax expense of $6,012 ($3,953 as at September 30, 2023)		17,270			11,524
Net unrealized losses on financial assets at fair value through other comprehensive income, net of accumulated income tax recovery of $460 ($1,189 as at September 30, 2023)		(1,174	)		(3,412	)
Items that will not be reclassified subsequently to net earnings:
Net remeasurement losses on defined benefit plans, net of accumulated income tax recovery of $24,309 ($25,173 as at September 30, 2023)		(69,130	)		(71,350	)
		347,703			158,975

For the nine months ended June 30, 2024, $10,087,000 of the net unrealized gains on cash flow hedges, net of income tax expense of $3,541,000, previously recognized in other comprehensive income, were reclassified in the consolidated statements of earnings ($12,746,000, net of income tax expense of $4,568,000, were reclassified for the nine months ended June 30, 2023).

For the nine months ended June 30, 2024, $2,978,000 of the deferred gains of hedging on cross-currency swaps, net of income tax expense of $455,000, were also reclassified in the consolidated statements of earnings ($9,239,000, net of income tax expense of $1,411,000, were reclassified for the nine months ended June 30, 2023).

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 8

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

5.    Capital stock, share-based payments and earnings per share

a) Capital stock

	Class A subordinate voting shares						Class B shares (multiple voting)						Total
	Number			Carrying value			Number			Carrying value			Number			Carrying value
				$						$						$
As at September 30, 2023		206,714,497			1,440,286			26,445,706			36,894			233,160,203			1,477,180
Release of shares held in trusts1		—			13,575			—			—			—			13,575
Purchased and held in trusts1		—			(66,847	)		—			—			—			(66,847	)
Issued upon exercise of stock options2		999,434			70,066			—			—			999,434			70,066
Purchased and cancelled3		(6,258,658	)		(43,022	)		—			—			(6,258,658	)		(43,022	)
Conversion of shares4		2,322,948			3,241			(2,322,948	)		(3,241	)		—			—
As at June 30, 2024		203,778,221			1,417,299			24,122,758			33,653			227,900,979			1,450,952

¹  During the nine months ended June 30, 2024, 165,603 shares held in trust were released (171,735 during the nine months ended June 30, 2023) with a recorded value of $13,575,000 ($13,657,000 during the nine months ended June 30, 2023) that was removed from contributed surplus.

During the nine months ended June 30, 2024, the Company settled the withholding tax obligations of the employees under the performance share unit (PSU) plans for a cash payment of $14,881,000 ($13,850,000 during the nine months ended June 30, 2023).

During the nine months ended June 30, 2024, the trustees, in accordance with the terms of the PSU plans and Trust Agreements, purchased 463,364 Class A subordinate voting shares of the Company on the open market (640,052 during the nine months ended June 30, 2023) for a cash consideration of $66,847,000 ($74,455,000 during the nine months ended June 30, 2023).

As at June 30, 2024, 2,607,504 Class A subordinate voting shares were held in trusts under the PSU plans (2,310,026 as at June 30, 2023 and 2,309,743 as at September 30, 2023).

² The carrying value of Class A subordinate voting shares includes $11,580,000 which corresponds to a reduction in contributed surplus representing the value of accumulated compensation costs associated with the stock options exercised during the nine months ended June 30, 2024 ($15,202,000 during the nine months ended June 30, 2023).

³  On January 30, 2024, the Company’s Board of Directors authorized and subsequently received regulatory approval from the Toronto Stock Exchange (TSX) for the renewal of its Normal Course Issuer Bid (NCIB), which allows for the purchase for cancellation of up to 20,457,737 Class A subordinate voting shares on the open market through the TSX, the New York Stock Exchange (NYSE) and/or alternative trading systems or otherwise pursuant to exemption orders issued by securities regulators. The Class A subordinate voting shares were available for purchase for cancellation commencing on February 6, 2024, until no later than February 5, 2025, or on such earlier date when the Company has either acquired the maximum number of Class A subordinate voting shares allowable under the NCIB or elects to terminate the bid.

On February 23, 2024, the Company entered into a private agreement with the Founder and Executive Chairman of the Board of the Company, as well as a wholly-owned holding company, to purchase for cancellation 1,674,930 Class A subordinate voting shares under its current NCIB for a total cash consideration of $250,000,000, excluding transaction costs of $370,000. The excess of the purchase price over the carrying value in the amount of $244,821,000 was charged to retained earnings. The 1,674,930 Class A subordinate voting shares purchased for cancellation on February 23, 2024, included 1,266,366 Class B shares (multiple voting) converted into Class A subordinate voting shares on February 23, 2024, by a holding company wholly-owned by the Founder and Executive Chairman of the Board of the Company. The repurchase transaction was reviewed and recommended for approval by an independent committee of the Board of Directors of the Company following the receipt of an external opinion regarding the reasonableness of the financial terms of the transaction, and ultimately approved by the Board of Directors. The purchase was made pursuant to an exemption order issued by the Autorité des marchés financiers and is considered within the annual aggregate limit that the Company is entitled to purchase under its current NCIB.

During the nine months ended June 30, 2024, the Company purchased for cancellation 1,627,300 Class A subordinate voting shares (390,100 during the nine months ended June 30, 2023) under its previous and current NCIB for a total cash consideration of $225,852,000 ($53,062,000 during the nine months ended June 30, 2023). The excess of the purchase price over the carrying value in the amount of $212,373,000 was charged to retained earnings ($49,923,097 during the nine months ended June 30, 2023).

During the nine months ended June 30, 2024, the Company purchased for cancellation 2,887,878 Class A subordinate voting shares under its current NCIB from the Caisse de dépôt et placement du Québec (CDPQ) for a total cash consideration of $400,000,000 (3,344,996 and $400,000,000, respectively during the nine months ended June 30, 2023). The excess of the purchase price over the carrying value in the amount of $375,636,000 was charged to retained earnings ($361,791,000 during the nine months ended June 30, 2023). The purchase was made pursuant to an exemption order issued by the Autorité des marchés financiers and is considered within the annual aggregate limit that the Company is entitled to purchase under its current NCIB.

During the nine months ended June 30, 2024, the Company paid for and cancelled 68,550 Class A subordinate voting shares under its previous NCIB, with a carrying value of $558,000 and for a total consideration of $9,177,000, which were purchased but were neither paid nor cancelled as at September 30, 2023 (100,100 Class A subordinate voting shares, $778,000 and $10,291,000, respectively, during the nine months ended June 30, 2023, which were purchased, or committed to be purchased, but were neither paid nor cancelled as at September 30, 2022).

On June 20, 2024, the Canadian government enacted new legislation to implement tax measures on equity repurchased by public companies. The legislation requires a company to pay a 2% tax on the fair market value of their repurchased shares. This tax liability can be offset by the issuance of new equity during the relevant taxation year. The tax applies retroactively to repurchases and issuances of equity that occurred on or after January 1, 2024. As of June 30, 2024, the Company has complied with this new legislation, and has adjusted its financial reporting accordingly by recording $13,588,000 of accrued liabilities related to shares repurchased, with a corresponding reduction to retained earnings.

⁴  On May 28, 2024, the Co-Founder and Advisor to the Executive Chairman of the Board of the Company converted a total of 900,000 Class B shares (multiple voting) into 900,000 Class A subordinate voting shares.

During the nine months ended June 30, 2024, a holding company wholly-owned by the Founder and Executive Chairman of the Board of the Company converted a total of 1,422,948 Class B shares (multiple voting) into 1,422,948 Class A subordinate voting shares.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 9

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

5.    Capital stock, share-based payments and earnings per share (continued)

b) Share-based payments

i) Performance share units (PSUs)

During the nine months ended June 30, 2024, 799,418 PSUs were granted, 269,717 were exercised and 239,049 were forfeited. The PSUs granted in the period had a weighted average grant date fair value of $137.90 per unit.

ii) Stock options

During the nine months ended June 30, 2024, 999,434 stock options were exercised (Note 5a) and 10,984 were forfeited.

c) Earnings per share

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended June 30:

									Three months ended June 30
	2024						2023
	Net earnings		Weighted average number of shares outstanding1		Earnings per share		Net earnings		Weighted average number of shares outstanding1		Earnings per share
		$				$		$				$
Basic		440,124		227,154,246		1.94		414,979		233,075,350		1.78
Net effect of dilutive stock options and PSUs2				3,386,720						3,808,084
Diluted		440,124		230,540,966		1.91		414,979		236,883,434		1.75

									Nine months ended June 30
	2024						2023
	Net earnings		Weighted average number of shares outstanding1		Earnings per share		Net earnings		Weighted average number of shares outstanding1		Earnings per share
		$				$		$				$
Basic		1,256,792		229,023,242		5.49		1,216,773		234,752,090		5.18
Net effect of dilutive stock options and PSUs2				3,584,746						3,591,429
Diluted		1,256,792		232,607,988		5.40		1,216,773		238,343,519		5.11

¹ During the three months ended June 30, 2024, 3,506,678 Class A subordinate voting shares purchased for cancellation and 2,607,504 Class A subordinate voting shares held in trusts were excluded from the calculation of the weighted average number of shares outstanding as of the date of the transaction (390,100 and 2,310,026, respectively, during the three months ended June 30, 2023). During the nine months ended June 30, 2024, 6,258,658 Class A subordinate voting shares purchased for cancellation and 2,607,504 Class A subordinate voting shares held in trusts were excluded from the calculation of the weighted average number of shares outstanding as of the date of the transaction (3,835,196 and 2,310,026, respectively, during the nine months ended June 30, 2023).

²  For the three and nine months ended June 30, 2024 and 2023, no stock options were excluded from the calculation of the diluted earnings per share as all stock options were dilutive.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 10

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

6. Cost optimization program

During the three months ended September 30, 2023, the Company initiated a cost optimization program to accelerate actions to improve operational efficiencies, including the increased use of automation and global delivery, and to rightsize its global real estate portfolio.

As at March 31, 2024, the Company completed its cost optimization program for a total cost of $100,027,000, of which $91,063,000 was expensed during the six months ended March 31, 2024, and nil during the three months ended June 30, 2024. These amounts included costs for terminations of employment of $69,500,000 accounted for in severance provisions, and costs of vacating leased premises of $21,563,000.

7. Net finance costs

	Three months ended June 30						Nine months ended June 30
	2024			2023			2024			2023
		$			$			$			$
Interest on long-term debt		11,510			12,878			35,695			40,572
Interest on lease liabilities		7,139			7,276			21,809			21,749
Net interest costs on net defined benefit obligations or assets		1,998			1,102			5,977			3,263
Other finance costs		3,661			2,846			6,800			6,903
Finance costs		24,308			24,102			70,281			72,487
Finance income		(15,543	)		(11,294	)		(46,786	)		(26,172	)
		8,765			12,808			23,495			46,315

8. Investments in subsidiaries

a)  Acquisitions and disposals

On October 10, 2023, the Company acquired all of the outstanding units of Momentum Industries Holdings, LLC. (Momentum), for a purchase price of $53,341,000. Momentum is an IT and business consulting firm specializing in digital transformation, data and analytics and managed services, based in the U.S. and headquartered in Miami, Florida. The acquisition is reported under the U.S. Commercial and State Government operating segment. The purchase price is mainly allocated to goodwill that is deductible for tax purposes, and represents the future economic value associated with the acquired workforce and synergies with the Company’s operations, as well as client relationships. The purchase price allocation is preliminary and is expected to be completed as soon as management gathers all the significant information available that is considered necessary in order to finalize this allocation.

This acquisition was made to further expand CGI’s footprint in the region and to complement CGI’s proximity model.

Cash acquired as part of the acquisition represented $5,072,000. As at June 30, 2024, an amount of $462,000 of the consideration remains payable.

b)  Commitment

On June 22, 2024, the Company entered into a definitive purchase agreement to acquire Aeyon LLC (Aeyon), subject to customary closing conditions and regulatory approvals. Aeyon is a digital transformation, data management and analytics, and intelligent automation services partner to the U.S. Federal Government, based in the U.S. and headquartered in Vienna, Virginia, and will be reported under the U.S. Federal operating segment upon closure. The acquisition will add approximately 725 professionals to the Company.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 11

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

8. Investments in subsidiaries (continued)

c)  Business acquisitions realized in the prior fiscal year

In November 2023, the Company paid $2,348,000 related to an acquisition realized in a prior fiscal year.

d)  Acquisition-related and integration costs

During the three and nine months ended June 30, 2024, the Company incurred $100,000 and $2,423,000, respectively, of acquisition-related and integration costs. These costs were mainly related to costs of rationalizing the redundancy of employment of $100,000 and $380,000, respectively, and costs of vacating leased premises of nil and $798,000, respectively.

During the three and nine months ended June 30, 2023, the Company incurred $13,032,000 and $53,401,000, respectively, of integration costs. These costs were mainly related to costs of rationalizing the redundancy of employment of $7,842,000 and $23,226,000, respectively, and costs of vacating leased premises of $2,062,000 and $11,173,000, respectively.

9. Supplementary cash flow information

a) Net change in non-cash working capital items and others is as follows for the three and nine months ended June 30:

		Three months ended June 30						Nine months ended June 30
	2024			2023			2024			2023
		$			$			$			$
Accounts receivable		(46,550	)		(58,357	)		(22,984	)		(117,847	)
Work in progress		37,427			(15,009	)		(23,932	)		(22,652	)
Prepaid expenses and other assets		(23,110	)		(3,395	)		(6,399	)		4,096
Long-term financial assets		(3,422	)		(6,425	)		(21,948	)		(12,228	)
Accounts payable and accrued liabilities		(9,552	)		(18,583	)		(36,477	)		(130,615	)
Accrued compensation and employee-related liabilities		81,176			50,532			11,225			(54,904	)
Deferred revenue		(75,852	)		(106,259	)		86,072			93,011
Income taxes		(9,739	)		37,518			(70,446	)		165,859
Provisions		(19,624	)		(5,758	)		10,538			(9,484	)
Long-term liabilities		4,232			5,454			20,741			17,907
Derivative financial instruments		261			(421	)		182			(629	)
Retirement benefits obligations		2,966			2,671			3,758			3,048
		(61,787	)		(118,032	)		(49,670	)		(64,438	)

b) Interest paid and received and income taxes paid are classified within operating activities and are as follows for the three and nine months ended June 30:

		Three months ended June 30						Nine months ended June 30
	2024			2023			2024			2023
		$			$			$			$
Interest paid		9,594			18,932			65,637			82,691
Interest received		16,154			19,689			60,512			54,174
Income taxes paid		184,372			133,533			549,248			333,904

c) Cash and cash equivalents consisted of unrestricted cash as at June 30, 2024 and September 30, 2023.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 12

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

10. Segmented information

The following tables present information on the Company’s operations which are managed through the following nine operating segments: Western and Southern Europe (primarily France, Spain and Portugal); United States (U.S.) Commercial and State Government; Canada; U.S. Federal; Scandinavia and Central Europe (Germany, Sweden and Norway); United Kingdom (U.K.) and Australia; Finland, Poland and Baltics; Northwest and Central-East Europe (primarily Netherlands, Denmark and Czech Republic); and Asia Pacific Global Delivery Centers of Excellence (mainly India and Philippines) (Asia Pacific).

The operating segments reflect the management structure and the way that the chief operating decision-maker, who is the President and Chief Executive Officer of the Company, evaluates the business. Effective October 1, 2023, as part of the cost optimization program, the Company centralized some internal administrative activities under a corporate function, which were previously presented in revenue under the Asia Pacific segment. The Company has restated the Asia Pacific segmented information for the comparative period to conform with this change.

			For the three months ended June 30, 2024
	Western and Southern Europe		U.S. Commercial and State Government		Canada		U.S. Federal		Scandinavia and Central Europe		U.K. and Australia		Finland, Poland and Baltics		Northwest and Central- East Europe		Asia Pacific		Eliminations			Total
		$		$		$		$		$		$		$		$		$		$			$
Segment revenue		643,571		592,233		506,750		499,046		409,950		390,041		220,231		212,849		241,597		(44,291	)		3,671,977
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1		78,097		94,282		110,169		83,515		28,407		62,292		37,155		33,318		75,597		—			602,832
Acquisition-related and integration costs (Note 8d)																							(100	)
Net finance costs (Note 7)																							(8,765	)
Earnings before income taxes																							593,967

¹ Total amortization and depreciation of $131,386,000 included in the Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, Scandinavia and Central Europe, U.K. and Australia, Finland, Poland and Baltics, Northwest and Central-East Europe and Asia Pacific segments is $17,877,000, $25,431,000, $16,439,000, $14,288,000, $20,893,000, $10,772,000, $9,567,000, $8,867,000 and $7,252,000, respectively, for the three months ended June 30, 2024.

							For the three months ended June 30, 2023
	Western and Southern Europe		U.S. Commercial and State Government		Canada		U.S. Federal		Scandinavia and Central Europe		U.K. and Australia		Finland, Poland and Baltics		Northwest and Central- East Europe		Asia Pacific		Eliminations			Total
		$		$		$		$		$		$		$		$		$		$			$
Segment revenue		656,796		569,829		518,792		492,371		416,672		381,513		211,245		193,594		228,591		(45,975	)		3,623,428
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1		80,778		98,365		115,843		87,125		29,027		55,526		22,740		23,158		72,259		—			584,821
Acquisition-related and integration costs (Note 8d)																							(13,032	)
Net finance costs (Note 7)																							(12,808	)
Earnings before income taxes																							558,981

¹  Total amortization and depreciation of $126,066,000 included in the Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, Scandinavia and Central Europe, U.K. and Australia, Finland, Poland and Baltics, Northwest and Central-East Europe and Asia Pacific segments is $20,072,000, $21,760,000, $14,122,000, $14,531,000, $22,150,000, $9,330,000, $9,974,000, $7,901,000 and $6,226,000, respectively, for the three months ended June 30, 2023.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 13

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

10. Segmented information (continued)

			For the nine months ended June 30, 2024
	Western and Southern Europe		U.S. Commercial and State Government		Canada		U.S. Federal		Scandinavia and Central Europe		U.K. and Australia		Finland, Poland and Baltics		Northwest and Central- East Europe		Asia Pacific		Eliminations			Total
		$		$		$		$		$		$		$		$		$		$			$
Segment revenue		1,979,354		1,748,997		1,522,671		1,478,563		1,265,045		1,163,509		656,131		623,142		709,122		(130,773	)		11,015,761
Segment earnings before acquisition-related and integration costs, cost optimization program, net finance costs and income tax expense1		269,056		244,210		352,300		228,660		115,173		189,341		94,775		98,043		223,962		—			1,815,520
Acquisition-related and integration costs (Note 8d)																							(2,423	)
Cost optimization program (Note 6)																							(91,063	)
Net finance costs (Note 7)																							(23,495	)
Earnings before income taxes																							1,698,539

¹ Total amortization and depreciation of $395,108,000 included in the Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, Scandinavia and Central Europe, U.K. and Australia, Finland, Poland and Baltics, Northwest and Central-East Europe and Asia Pacific segments is $53,416,000, $77,974,000, $46,007,000, $43,840,000, $63,260,000, $33,074,000, $28,397,000, $27,582,000 and $21,558,000, respectively, for the nine months ended June 30, 2024. Amortization includes an impairment in U.S. Commercial and State Government segment of $7,926,000 related to a business solution. This asset was no longer expected to generate future economic benefits.

							For the nine months ended June 30, 2023
	Western and Southern Europe		U.S. Commercial and State Government		Canada		U.S. Federal		Scandinavia and Central Europe		U.K. and Australia		Finland, Poland and Baltics		Northwest and Central- East Europe		Asia Pacific		Eliminations			Total
		$		$		$		$		$		$		$		$		$		$			$
Segment revenue		1,999,398		1,710,729		1,555,308		1,445,425		1,256,750		1,079,789		635,149		568,800		672,384		(134,708	)		10,789,024
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1		277,510		244,782		350,117		232,135		106,634		155,879		83,200		75,400		214,045		—			1,739,702
Acquisition-related and integration costs (Note 8d)																							(53,401	)
Net finance costs (Note 7)																							(46,315	)
Earnings before income taxes																							1,639,986

¹ Total amortization and depreciation of $378,951,000 included in the Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, Scandinavia and Central Europe, U.K. and Australia, Finland, Poland and Baltics, Northwest and Central-East Europe and Asia Pacific segments is $65,112,000, $62,214,000, $40,802,000, $44,441,000, $67,523,000, $28,334,000, $28,555,000, $23,255,000 and $18,715,000, respectively, for the nine months ended June 30, 2023.

The accounting policies of each operating segment are the same as those described in Note 3, Summary of material accounting policies, of the Company’s consolidated financial statements for the year ended September 30, 2023. Intersegment revenue is priced as if the revenue was from third parties.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 14

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

10. Segmented information (continued)

GEOGRAPHIC INFORMATION

The following table provides external revenue information based on the client’s location which is different from the revenue presented under operating segments, due to the intersegment revenue, for the three and nine months ended June 30:

	Three months ended June 30				Nine months ended June 30
	2024		2023		2024		2023
		$		$		$		$
Western and Southern Europe
France		556,656		572,172		1,718,697		1,748,780
Spain		29,886		29,333		90,031		88,575
Portugal		30,057		30,729		88,991		88,181
Others		12,778		14,403		42,779		41,695
		629,377		646,637		1,940,498		1,967,231
U.S.1		1,156,239		1,117,689		3,406,403		3,302,976
Canada		549,100		560,674		1,649,993		1,681,664
Scandinavia and Central Europe
Germany		232,197		235,227		718,452		688,563
Sweden		174,884		176,758		537,204		541,531
Norway		28,926		27,953		85,815		97,791
		436,007		439,938		1,341,471		1,327,885
U.K. and Australia
U.K.		425,354		410,521		1,267,847		1,175,960
Australia		18,681		20,986		54,087		65,454
		444,035		431,507		1,321,934		1,241,414
Finland, Poland and Baltics
Finland		215,912		208,526		642,599		627,708
Others		17,777		13,328		52,762		34,896
		233,689		221,854		695,361		662,604
Northwest and Central-East Europe
Netherlands		160,145		145,511		475,763		425,111
Denmark		24,686		24,516		69,541		75,831
Czech Republic		20,299		18,915		60,454		53,962
Others		17,421		15,144		48,421		47,679
		222,551		204,086		654,179		602,583
Asia Pacific
Others		979		1,043		5,922		2,667
		979		1,043		5,922		2,667
		3,671,977		3,623,428		11,015,761		10,789,024

¹  External revenue included in the U.S. Commercial and State Government and U.S. Federal operating segments was $655,181,000 and $501,058,000, respectively, for the three months ended June 30, 2024 ($623,462,000 and $494,227,000, respectively, for the three months ended June 30, 2023). External revenue included in the U.S. Commercial and State Government and U.S. Federal operating segments was $1,921,310,000 and $1,485,093,000, respectively, for the nine months ended June 30, 2024 ($1,851,292,000 and $1,451,684,000, respectively, for the nine months ended June 30, 2023).

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 15

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

10. Segmented information (continued)

INFORMATION ABOUT SERVICES

The following table provides revenue information based on services provided by the Company for the three and nine months ended June 30:

	Three months ended June 30				Nine months ended June 30
	2024		2023		2024		2023
		$		$		$		$
Managed IT and business process services		2,003,192		1,950,289		5,981,887		5,745,818
Business and strategic IT consulting, and systems integration services		1,668,785		1,673,139		5,033,874		5,043,206
		3,671,977		3,623,428		11,015,761		10,789,024

MAJOR CLIENT INFORMATION

Contracts with the U.S. federal government and its various agencies, included within the U.S. Federal operating segment, accounted for $497,155,000 and 13.5% of revenues for the three months ended June 30, 2024 ($488,159,000 and 13.5% for the three months ended June 30, 2023) and $1,473,088,000 and 13.4% of revenues for the nine months ended June 30, 2024 ($1,434,179,000 and 13.3% for the nine months ended June 30, 2023).

11. Financial instruments

FAIR VALUE

All financial instruments are initially measured at their fair value and are subsequently classified either at amortized cost, at fair value through earnings or at fair value through other comprehensive income.

The Company has made the following classifications:

Amortized cost

Trade accounts receivable, long-term receivables within long-term financial assets, short-term investments included in funds held for clients, accounts payable and accrued liabilities, accrued compensation and employee-related liabilities, long-term debt and clients’ funds obligations.

Fair value through earnings (FVTE)

Cash, cash equivalents, cash included in funds held for clients, derivative financial instruments and deferred compensation plan assets within long-term financial assets.

Fair value through other comprehensive income (FVOCI)

Short-term investments included in current financial assets, long-term bonds included in funds held for clients and long-term investments within long-term financial assets.

FAIR VALUE HIERARCHY

Fair value measurements recognized in the consolidated balance sheet are classified in accordance with the following levels:

Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2: inputs other than quoted prices included in Level 1, but that are observable for the asset or liability, either directly or indirectly; and

Level 3: inputs for the asset or liability that are not based on observable market data.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 16

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

11. Financial instruments (continued)

FAIR VALUE MEASUREMENTS

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Valuation techniques used to value financial instruments are as follows:

- The fair value of the 2014 U.S. Senior Notes, the 2021 U.S. Senior Notes, the 2021 CAD Senior Notes, the unsecured committed revolving credit facility, the unsecured committed term loan credit facility (repaid in December 2023) and the other long-term debt is estimated by discounting expected cash flows at rates currently offered to the Company for debts of the same remaining maturities and conditions;

- The fair value of long-term bonds included in funds held for clients and in long-term investments is determined by discounting the future cash flows using observable inputs, such as interest rate yield curves or credit spreads, or according to similar transactions on an arm’s-length basis;

- The fair value of foreign currency forward contracts is determined using forward exchange rates at the end of the reporting period;

- The fair value of cross-currency swaps and interest rate swaps is determined based on market data (primarily yield curves, exchange rates and interest rates) to calculate the present value of all estimated cash flows;

- The fair value of cash, cash equivalents, cash included in funds held for clients and short-term investments included in current financial assets is determined using observable quotes; and

- The fair value of deferred compensation plan assets within long-term financial assets is based on observable price quotations and net assets values at the reporting date.

There were no changes in valuation techniques during the nine months ended June 30, 2024.

The following table presents the financial liabilities included in the long-term debt measured at amortized cost categorized using the fair value hierarchy:

		As at June 30, 2024				As at September 30, 2023
	Level	Carrying amount		Fair value		Carrying amount		Fair value
			$		$		$		$
2014 U.S. Senior Notes	Level 2		479,121		477,515		473,808		464,806
2021 U.S. Senior Notes	Level 2		1,359,187		1,206,522		1,342,714		1,132,649
2021 CAD Senior Notes	Level 2		597,041		541,170		596,550		503,984
Other long-term debt	Level 2		2,112		1,941		10,363		9,839
			2,437,461		2,227,148		2,423,435		2,111,278

For the remaining financial assets and liabilities measured at amortized cost, the carrying values approximate the fair values of the financial instruments given their short term maturity.

In December 2023, the Company repaid in full the unsecured committed term loan credit facility of U.S. $500,000,000, for a total amount of $670,350,000. The Company also settled the related cross currency swaps with a notional amount of $670,039,000 for a net gain of $18,087,000, for which $311,000 related to the cash flow hedge was recorded in net finance costs and $17,776,000 related to the net investment hedge was recognized in other comprehensive income and will be transferred to earnings when the net investment is disposed of.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 17

Notes to the Interim Condensed Consolidated Financial Statements

For the three and nine months ended June 30, 2024 and 2023

(tabular amounts only are in thousands of Canadian dollars, except per share data) (unaudited)

11. Financial instruments (continued)

FAIR VALUE MEASUREMENTS (CONTINUED)

The following table presents financial assets and liabilities measured at fair value categorized using the fair value hierarchy:

	Level		As at June 30, 2024		As at September 30, 2023
				$		$
Financial assets
FVTE
Cash and cash equivalents		Level 2		1,155,400		1,568,291
Cash included in funds held for clients		Level 2		433,173		269,792
Deferred compensation plan assets		Level 1		111,178		88,076
				1,699,751		1,926,159
Derivative financial instruments designated as hedging instruments
Current derivative financial instruments included in current financial assets		Level 2
Cross-currency swaps				31,384		83,626
Foreign currency forward contracts				11,251		12,505
Long-term derivative financial instruments		Level 2
Cross-currency swaps				12,124		16,130
Foreign currency forward contracts				12,852		5,875
				67,611		118,136
FVOCI
Short-term investments included in current financial assets		Level 2		3,277		7,332
Long-term bonds included in funds held for clients		Level 2		107,435		138,935
Long-term investments		Level 2		23,840		17,113
				134,552		163,380
Financial liabilities
Derivative financial instruments designated as hedging instruments
Current derivative financial instruments		Level 2
Cross-currency swaps				1,256		2,183
Foreign currency forward contracts				1,393		2,330
Long-term derivative financial instruments		Level 2
Foreign currency forward contracts				1,339		1,700
				3,988		6,213

There were no transfers between Level 1 and Level 2 during the nine months ended June 30, 2024.

12. Subsequent events

On July 3, 2024, the Company acquired the assets of Celero Solutions’ credit union business, consisting of master services agreements that span managed services, core banking, digital banking and related IT services, based in Canada, for a purchase price of $13,036,000, which will be accounted for as a business acquisition.

On July 30, 2024, the Board of Directors of the Company approved a dividend program for its Class A subordinate voting shares and Class B shares (multiple voting). The decision of whether to pay future dividends and the amounts will be at the discretion of the Board of Directors.

CGI Inc. – Interim Condensed Consolidated Financial Statements for the three and nine months ended June 30, 2024 and 2023 18