Exhibit 99.1

Exa Reports Third Quarter Fiscal 2013 Financial Results

Revenue increases 9% from third quarter of 2012 and 13% on a constant currency basis

Burlington, Mass., December 3, 2012 – Exa^® Corporation (NASDAQ: EXA), a global innovator of fluids simulation solutions for product engineering, today announced financial results for the third quarter of fiscal 2013, which ended October 31, 2012.

“Revenue in the third quarter grew by 9%, from Q3 a year ago, and 13% on a constant currency basis, which was slightly below the low end of our guidance due to what we believe are near-term budget constraints at many of our customers, delaying new project and license activity,” said Stephen Remondi, President and Chief Executive Officer of Exa. “Lower than anticipated revenue was a primary factor affecting profitability in the third quarter that was also below our guidance. We believe customers became incrementally more cautious with expenses going into calendar year-end due to increased macroeconomic uncertainty, particularly in the manufacturing markets we serve. This revenue shortfall is not the result of lost opportunities due to competitive issues or cancellation of significant customer programs. With new budgets opening up in the New Year and short-term deliverables which still must be met at many customers, we are optimistic that these delays will be short-lived. Furthermore, we are confident that the long-term drivers of our growth remain firmly intact and that Exa is well positioned to lead our customers’ efforts in simulation-based design in order to meet their increasingly stringent requirements for fuel efficiency, noise, and thermal management.”

Third Quarter Fiscal 2013 Financial Highlights

Revenue

Profitability

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Balance Sheet

Business Outlook

“We remain optimistic about Exa’s prospects over the longer-term and believe we are strongly positioned to capitalize on the opportunities ahead of us,” continued Remondi. “We expect that our customers will continue to experience some short-term budgetary pressure and may delay some activity in response. We’re optimistic that as new budget cycles open up in the New Year, customers will resume much of the delayed activity as they address pent up demand to meet their ever more challenging design and regulatory requirements.”

Based on information available as of December 3, 2012, Exa is issuing guidance for the fourth quarter and full year fiscal 2013 as follows:

Fourth Quarter Fiscal 2013:

Full Year Fiscal 2013:

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The above guidance assumes an exchange rate of 1.3 US dollars per Euro and 80.9 Japanese Yen per US dollar for the balance of fiscal year 2013. A reconciliation of forward-looking adjusted EBITDA and non-GAAP net income to GAAP net income is provided in the attachments to this press release.

Conference Call Information

Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements, which are presented on a GAAP basis, we disclose revenue on a constant currency basis, Non-GAAP Income from Operations, Non-GAAP Net Income, Non-GAAP Net Income per Diluted Share and Adjusted EBITDA. These non-GAAP measures are not in accordance with, or an alternative for, amounts determined in accordance with generally accepted accounting principles in the United States. The GAAP measure most comparable to revenue on a constant currency basis is GAAP revenue. The GAAP measure most comparable to Non-GAAP Income from Operations is GAAP income from operations, The GAAP measure most comparable to Non-GAAP Net Income and Adjusted EBITDA is GAAP net income. The GAAP measure most comparable to Non-GAAP Net Income per Diluted Share is GAAP Net Income per Diluted Share. A reconciliation of these non-GAAP financial measures to the corresponding GAAP measure is included below.

We define revenue on a constant currency basis as GAAP revenue, adjusted to reverse the impact of changes in the average exchange rates of currencies in which our international operations generated revenue and incurred expenses.

We define Non-GAAP Net Income as net income, excluding the after tax impact of stock-based compensation expense and the amortization of acquired intangibles. We define EBITDA as net income, excluding depreciation and amortization, interest expense, other income (expense), foreign exchange gain (loss) and provision for income taxes, and we define Adjusted EBITDA as EBITDA, excluding non-cash share-based compensation expense.

Our management uses these non-GAAP measures when evaluating our operating performance and for internal planning and forecasting purposes. We believe that these measures help indicate underlying trends in our business, are important in comparing current results with prior period results, and are useful to investors and financial analysts in assessing our operating performance. For example, our international operations generate revenue and incur expenses that are denominated in foreign currencies. These amounts could be materially affected by currency fluctuations. Our principal

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exposures are to fluctuations in exchange rates for the United States dollar versus the Euro, British pound, Japanese yen, Chinese yuan and Korean dollar. Changes in currency exchange rates that are beyond our control can significantly affect our consolidated results of operations. We believe that disclosure of our revenue on a constant currency basis is useful as an indicator of demand for our solutions independent of the influence of currency exchange fluctuations. Management considers Adjusted EBITDA to be an important indicator of our operational strength and the performance of our business and a good measure of our historical operating trends. The non-GAAP financial information presented here should be considered in conjunction with, and not as a substitute for, or superior to, the financial information presented in accordance with GAAP and, in particular, should not be considered a measure of our liquidity. There are significant limitations associated with the use of non-GAAP financial measures. Further, these measures may differ from the non-GAAP information, even where similarly titled, used by other companies and therefore should not be used to compare our performance to that of other companies. Investors should carefully consider the attached reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures.

About Exa Corporation

Exa Corporation develops, sells and supports simulation software and services to enhance product performance, reduce product development costs and improve the efficiency of design and engineering processes. Our simulation solutions enable our customers to gain crucial insights about design performance early in the design cycle, thus reducing the likelihood of expensive redesigns and late-stage engineering changes. As a result, our customers realize significant cost savings and fundamental improvements in their engineering development process. Our products include, PowerFLOW^®, PowerDELTA^®, PowerCLAY^®, PowerVIZ^®, PowerSPECTRUM^®, PowerACOUSTICS^®, PowerINSIGHT^®, PowerCASE™, PowerCOOL^® and PowerTHERM^® along with professional engineering consulting services. A partial customer list includes: AGCO, BMW, Ford, Hyundai, Kenworth, MAN, Nissan, Peterbilt, Renault, Scania, Toyota, Volkswagen, and Volvo Trucks.

Safe Harbor Statement

This press release, including the section entitled “Business Outlook,” contains forward-looking statements describing our expectations concerning future events and our future financial performance. These statements are only predictions and may be inaccurate. Actual events or results may differ materially. In evaluating these statements, you should specifically consider various factors, including the risks outlined under “Risk Factors” in our Registration Statement on Form S-1, file number 333-176019, and in our other SEC filings. These factors may cause our actual results to differ materially from those described in our forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, our future results, levels of activity, performance or achievements may differ from our expectations. Other than as required by law, we do not undertake a

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responsibility to update any of the forward-looking statements after the date of this press release, even though our situation may change in the future.

Media Contact:

Michelle Murray-Ross, Exa Corporation

+1 (781) 564-0251

michelle@exa.com

Investor Relations Contact:

Garo Toomajanian, ICR

+1 (781) 564-0337

investor@exa.com

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UNAUDITED FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Exa Corporation

Consolidated Balance Sheets

(Unaudited)

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Exa Corporation

Consolidated Statements of Operations and Comprehensive Income Statement

(Unaudited)

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Exa Corporation

Consolidated Statements of Cash Flows

(Unaudited)

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Exa Corporation

Reconciliation of historical Non-GAAP to GAAP measures

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Exa Corporation

Reconciliation of forward looking Non-GAAP financial measures:

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