Chubb Acquisition

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APi Group

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Safety Services & Life Safety

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6/30/2021

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#1APIO Group Investor Presentation FEBRUARY 2022 POWERED BY API Group USA RELIABLE MODEL G 4CHECK VALVE#2Forward Looking Statements and Disclaimers This presentation does not constitute or form part of any offer, invitation, prospectus or prospectus equivalent document to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities. The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrictions. The preliminary annual 2021 financial estimates are based on information available to management as of the date of this presentation, remain subject to the completion of normal year-end accounting procedures and adjustments, and are subject to change. The Company's independent registered public accounting firm has not completed its audit of the Company's results for the year ended December 31, 2021. During the course of the preparation of our consolidated financial statements and related notes, and completion of the Company's financial close and procedures for the year ended December 31, 2021, adjustments to the preliminary estimates may be identified, and such adjustments may be material. In addition, other developments may arise between now and the time the financial statements for the year ended December 31, 2021 are finalized. Please note that in this presentation, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of API Group Corporation ("APi" or the "Company"). Such discussion and statements may contain words such as "expect," "anticipate, "will," "should," "believe," "intend," "plan," "estimate,” “predict," "seek," "continue," "pro forma" "outlook," "may," "might," "should," "can have," "have," "likely," "potential," "target," "indicative," "illustrative," and variations of such words and similar expressions, and relate in this presentation, without limitation, to statements, beliefs, projections and expectations about future events. Such statements are based on the Company's expectations, intentions and projections regarding the Company's future performance, anticipated events or trends and other matters that are not historical facts, including expectations regarding: (i) the potential benefits of the acquisition of Chubb Limited's fire and security businesses ("Chubb" or the "Chubb Business") by API, including the global expansion of the Company's business, cross selling and cost synergy opportunities, a positive effect on the Company's service mix and organic growth and margin expansion opportunities; (ii) the future investment into the Chubb Business; (iii) the Company's ability to drive long-term growth through organic expansion or M&A activities; (iv) the impact of characteristics of the Company's markets and market trends on growth; (v) the impact of the Company's focus on inspection and maintenance services, including statutorily required services, on future revenues; (vi) the impact of diversity in the Company's client base across geographies and end markets and low customer concentration; (vii) the Company's ability to manage results in volatile circumstances, including the expected impact of flexibility in the Company's cost structure, relatively short project duration and lower capital investments; (viii) future revenue and margin expansion through various initiatives, including growing inspection revenue, reduced costs, performance improvements, disciplined project and customer selection, mix of work, pricing initiatives, potential acquisitions, improved operational excellence or other means; (ix) the ability of the Company to achieve key financial targets, including organic revenue growth, adjusted EBITDA margin targets, margin goals, targeted average adjusted free cash flow conversion rates; or long-term leverage ratio targets; and (x) the Company's future net working capital, free cash flow, taxes, interest expenses, and capital expenditures. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: (i) economic conditions, competition and other risks that may affect the Company's future performance, including the impacts of the COVID-19 pandemic on the Company's business, markets, supply chain, customers and workforce, on the credit and financial markets, on the alignment of expenses and revenues and on the global economy generally; (ii) the ability to recognize the anticipated benefits of the Company's acquisitions, including its ability to successfully integrate and make necessary capital investments to support additional acquisitions, and the Company's ability to take advantage of strategic opportunities; (iii) changes in applicable laws or regulations; (iv) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (v) the trading price of the Company's common stock, which may be positively or negatively impacted by market and economic conditions, including as a result of the COVID-19 pandemic, the availability of the Company's common stock, the Company's financial performance or determinations following the date of this presentation to use the Company's funds for other purposes; and (vi) other risks and uncertainties, including those discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Reports on Form 10-Q for the quarters ended June 30, 2021 and September 30, 2021 under the heading "Risk Factors." Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. Additional information concerning these risks, uncertainties and other factors that could cause actual results to vary is, or will be, included in the periodic and other reports filed by the Company with the Securities and Exchange Commission. Forward-looking statements included in this presentation speak only as of the date hereof and, except as required by applicable law, the Company does not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or circumstances after the date of this presentation. 2 BUILDING GREAT LEADERS® APIO Group#3Non-GAAP Financial Measures This presentation contains non-U.S. GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. The Company uses certain non-U.S. GAAP financial measures that are included in this presentation and the additional financial information both in explaining its results to shareholders and the investment community and in its internal evaluation and management of its businesses. The Company's management believes that these non-U.S. GAAP financial measures and the information they provide are useful to investors since these measures (a) permit investors to view the Company's performance using the same tools that management uses to evaluate the Company's past performance, reportable business segments and prospects for future performance, (b) permit investors to compare the Company with its peers and (c) determine certain elements of management's incentive compensation. Specifically: Earnings before interest, taxes, depreciation and amortization ("EBITDA") is the measure of profitability used by management to manage its segments and, accordingly, in its segment reporting. The Company supplements the reporting of its consolidated financial information with certain non-U.S. GAAP financial measures, including EBITDA and adjusted EBITDA, which is defined as EBITDA excluding the impact of certain non-cash and other specifically identified items ("adjusted EBITDA"). The Company believes these non-U.S. GAAP measures provide meaningful information and help investors understand the Company's financial results and assess its prospects for future performance. The Company uses EBITDA and adjusted EBITDA to evaluate its performance, both internally and as compared with its peers, because it excludes certain items that may not be indicative of the Company's core operating results. Consolidated EBITDA is calculated in a manner consistent with segment EBITDA, which is a measure of segment profitability. The Company's management believes that adjusted EBITDA, which excludes business transformation and other expenses for the integration of acquired businesses, the impact and results of businesses classified as assets held-for-sale and businesses divested, and one-time and other events such as impairment charges, share-based compensation, transaction and other costs related to acquisitions, amortization of intangible assets and depreciation remeasurements associated with acquisitions, net COVID-19 relief, and certain tax benefits from the acquisition of API Group, Inc. (the "API Acquisition"), is useful because it provides investors with a meaningful perspective on the current underlying performance of the Company's core ongoing operations. The Company does not provide reconciliations of forward-looking non-U.S. GAAP adjusted EBITDA and organic net revenues growth to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including adjustments that could be made for acquisitions and divestitures, business transformation and other expenses for the integration of acquired businesses, one-time and other events such as impairment charges, transaction and other costs related to acquisitions, amortization of intangible assets, net COVID-19 relief, and certain tax benefits from the APi Acquisition, and other charges reflected in the Company's reconciliation of historic numbers, the amount of which, based on historical experience, could be significant. While the Company believes these non-U.S. GAAP measures are useful in evaluating the Company's performance, this information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with U.S. GAAP. Additionally, these non-U.S. GAAP financial measures may differ from similar measures presented by other companies. 3 BUILDING GREAT LEADERS® APIO Group#44 BUILDING GREAT LEADERSⓇ Who We Are APIO Group#5APIO Group * Who We Are We are a global, market- leading business services provider of safety and specialty services We provide statutorily-mandated and other contracted services to a strong base of long-standing customers across industries We have a winning leadership culture driven by entrepreneurial business leaders to deliver innovative solutions for our customers 5 BUILDING GREAT LEADERS® APİ Group#6Our Culture OUR PURPOSE OUR VALUES Who We Are THE RESULTS BUILDING GREAT LEADERS + ☐ Safety, health and well- being of all our leaders Caring and enduring relationships with others Honesty and integrity Excellence, nothing less Joy in our work and in each other Combining individual company agilities with large company advantages $ Shareholder Value Creation 6 BUILDING GREAT LEADERS® API Group#7What We Believe Great leaders are a competitive advantage and create shareholder value LIFT 14 2 INTERNATIONA 49174 Who We Are Everyone is a Leader Everyone should have the opportunity to develop as a Leader We each own our development Leadership is the single biggest differentiator between average and excellent Leaders develop Leaders 7 BUILDING GREAT LEADERS® API Group#8Company Timeline Who We Are 1926 2002 2003 2007 2018 2019 2020 2022 Reuben L. Anderson established small plumbing company in St. Paul, MN Russ Becker joins API Group as President Leader Development Program created Established goal of 50%+ revenue from service Inspection first mindset established Acquired by J2 Acquisition Ltd. Listed on the NYSE under the ticker APG Proud evolution from local contracting firm to global industry leader with recurring services-focused business model 8 BUILDING GREAT LEADERS® Completed acquisition of Chubb fire and security business API Group#9Broad Geographic Footprint 8 800 P ° ited States Mexico Guatemala Cuba Puerto Rico Nicaragua Caribbean Sea Venezuela Colombia Guyana Suriname ~20 Countries Ecuador 500+ Peru Locations Brazil Chile orth antic cean 425+ Portugal United Finland Norway Gibraltar Tunisia Latvia Lithuania Belarus Ukraine Moldova Hungary Slovenia Croatia Cyprus Kazakhstan Uzbekistar Turkmenistan. Kyrgyzstan Tajikistan Afghanist Iran Morocco Algeria Libya Egypt Western Sahara Mauritania Mali Niger Sudan Chad Burkina Esen Guinea Nigeria Ghana Saudi Arabia Oman Yemen Gulf of Aden Arabian Se Ethiopia South Sudan Somalia Kenya Locations for Safety Services 75+ Paraguay Argentina Uruguay Gabon DRC Tanzania Angola Zambia Mozambique Namibia Zimbabwe Botswana Locations for Specialty Services Ocean South Africa New Delhi Nepal India Kolkata Hyderabad Sri Lanka Laccadive Saa Madagascar Indian Ocean Russia Bhutan Bangladesh Myanmar (Burma) Mongolia Who We Are North Korea saat Japan Seoul South Korea Busan Osaka Japan Yellow See 大阪 China 부산 Thand Taipei 台北 Kong Talwan Vietnam China Sea Luzon Bangkok Bay of Bengal Cambodia Andaman Sea Gul of LEGEND Safety Services Specialty Services Single Office 9 BUILDING GREAT LEADERS® Thailand Malay Kuala Lu Singapore Jakarta East China Sea Philippines Panay Fatawan Negros Mindanao Basilan Island Celebes Sea Indonesia Java Sea Surabaya 00 Banda Sea WESTERN AUSTRALIA Tanor Sa Philippine Sea A NORTHERN Australia. Multiple Offices SOUTH AUSTRALIA Bering S Sea of Okhotsk Bismarck Sea Papua New Guinea QUEENSLAND NEW SOUTH WALES Solomon Sea Coral Se 800 Tam Auckland New Zealand API Group#10Who We Are Stability Through Significant Recurring Service Revenue Mission-critical nature of services and regulatory-driven inspection requirements provide predictable, recurring revenue stream opportunities Continuing to increase the proportion of revenue derived from maintenance- related services remains a key initiative GROWING SERVICE REVENUE CONTRIBUTION High proportion of revenue from repeat customers translates into stable cash flow generation -80% 2008 (1) -20% ~57% 2021(2) ~43% Service Revenue Non-Service Revenue 50% + Service Revenue API+Chubb Group On average, service and inspection revenue generates ~10%+ higher gross margin than contract revenue (1) Data based on APi net revenues for Life Safety companies as of December 31, 2008. (2) Data based on APi preliminary net revenues for Life Safety companies as of December 31, 2021. 10 BUILDING GREAT LEADERS® API Group#11APi vs. APi + Chubb APi Group API + Chubb Group Diversified, global business GEOGRAPHY (1) ■ United States ■ Canada & Europe LOCATIONS 200+ (1) Data based on APi preliminary 2021 net revenues. (2) Data based on estimated 2022 net revenues. 11 BUILDING GREAT LEADERS® Who We Are APi Group API+Chubb Group Increases safety services GEOGRAPHY (2) SEGMENT (1) SEGMENT (2) ■ United States ■ Canada & Europe ■ APAC & Other ■Safety Services Specialty Services ■Industrial Services LOCATIONS A 500+ EMPLOYEES 8-13,000 ■Safety Services ■ Specialty Services EMPLOYEES -26,000 API Group#12Safety Services at a Glance 080 NV AB MT ° WY NE UT ted States CO KS Mexico OK W Gulf of Mexico Cuba Puerto Rico Labrador Sea Guatemala Caribbean Sea Nicaragua Venezuela Guyana Colombia Suriname Ecuador North Atlantic Ocean AM MA PA CE RN PB Brazil PE Peru RO TO BA GO Bolivia MS MG Denmark United ngdom Belarus Ireland 15 Poland hy Ukraine Austria Kazakhstan Frang Romania Italy Greece Turkey Portugal Uzbekistan Kyrgyzstan Turkmenistan Syria Tunisia Afghanistan Iraq Iran Pakistan Nepal Myanmar (Burma) Who We Are Safety Services Multiple Offices Single Office Sea of Japan Japan China South Korea East China Sea Philippine Sea Thand Bay of Bengal Gulf of Thailand South China Sea Vietnam Philippines Morocco Algeria Libya Egypt Western Sahara Mauritania Mali Niger Sudan Chad Burkina Faso Guinea Nigeria Ghana Gulf of Guinea Gabon DRC Tanzania Saudi Arabia India Oman Yemen Gulf of Aden Arabian Sea Ethiopia South Sudan Laccadive Sea Somalia Kenya. SEGMENT STATISTICS Maysia Indonesia Banda Sea Papua New Guinea Arafura Sea Angola Zambia Mozambique Namibia Zimbabwe Coral Sea Botswana Madagascar Indian Ocean OLD Australia WA SA NSW 10 425+ Locations Worldwide ~20,000 Employees (1) (1) Data as of December 31, 2021. Includes employees for Chubb fire and security business. (2) Includes Chubb fire and security business. ~$5,000 Average Project Size(2) 12 BUILDING GREAT LEADERS® Great Australian Bight Tasman Sea New Zealand Bering S API Group#13Who We Are Differentiated Business Model APIO Group API's strategy in Safety Services is to sell inspection work first, for which every $1 leads to $3 - $4 of service work(1), and ultimately to relationship based, higher margin new contract revenue opportunities ☑ Target inspection work at existing facility $3 $4 of service work generated for every $1 of inspection work(1) ☑ Proposals submitted to general contractors hired by building owners for new construction opportunity > (1) Based on management estimate. 13 BUILDING GREAT LEADERS® COMPETITORS 588 Relationship based, higher margin, new contract revenue opportunities Subcontractors begin work on new construction opportunity Begin targeting service and inspection work on building that is nearly complete API Group#14Specialty Services at a Glance SEGMENT STATISTICS (1) BRITISH COLUMBIA 75+ Locations in North America Seattle 0 ~4,500 Employees (2) ~$75,000 Average Project Size ALBERTA Canada SASKATCHEWAN MANITOBA 6 ONTARIO QUEBEC NB Who We Are NEWFOUNDLAND AND LABRADOR Montreal MAINE NOVA SCOTIA WASHINGTON RTH DAKOTA MON ANA 4 SOUTH DAKOTA WISCON OREGON IDAHO 6 WYOMING WA 8000.** Ottawa O о Toronto MICHIGAN NEW YORK icago NEBRASKA 6 ILLINOIS PE OHIO NEVADA UTAH COLORADO United Stoes INDIANA MD KANSAS MISSOURI WEST VIRGINIA KENTUCKY VIRGI DE NJ CALIFORNIA oLas Vegas OKLAHOMA TENNESS NORTH CAROLINA Los Angeles ARKANSAS ARIZONA NEW MEXICO MISSISSIPPI SOUTH CAROLINA San Diegoo ALABAMA TEXAS GEORGIA LOUISIANA Houston (1) Includes Industrial Services which was combined with Specialty Services effective January 1, 2022. (2) Data as of December 31, 2021. 14 BUILDING GREAT LEADERS® Gulf of California Mexico Guadalajara Mexico City York Specialty Services Labrador Sea FLORIDA Gulf of Mexico Multiple Offices Single Office Cuba Dominican Republic APİ Group#15Revenue Diversification CONSOLIDATED -9% SAFETY SERVICES -3% ~6% -19% -10% -21% ~8% END MARKET (2) END MARKET ~14% -8% -10% ~8% ~4% ~7% Commercial / Education / Entertainment Distribution & Fulfillment Centers Industrial / Manufacturing ~14% Who We Are SPECIALTY SERVICES (1) -6% -19% ~12% ~32% -8% (2) END MARKET ~1% ~1% ~5% ~9% ~16% -39% ~11% Government / Infrastructure Healthcare High Tech (1) Includes Industrial Services which was combined with Specialty Services effective January 1, 2022. (2) Estimated based on 2021 preliminary net revenues. Data does not include Chubb fire and security business. 15 BUILDING GREAT LEADERS® Integrity/Transmission Telecom / Utilities Other API Group#16Safety: Our Commitment to Zero TEN CORE VALUES 1 Zero is achievable and is the expectation of everyone who works on our team. 2 We care about each other. The safety and well-being of our team and their families is vitally important to us. Who We Are KEY SAFETY METRICS Everyone has the personal responsibility, authority and support to stop work if it is unsafe. 3 Every person is responsible for their team's safety. 4 Every person should strive to improve the safety awareness of those around them. 5 6 All incidents are preventable. There is always a cause from which we can learn. 7 We will not take shortcuts that compromise safety. 8 9 Everyone is encouraged to voice opinions and ideas. Good catches and incidents shall be shared so that we can learn to be safer. Everybody wins. Safety, quality and production are achievable together. 10 Safety never quits. Our families, friends and teammates need us to be safe all day, every day. 0.8 Total Recordable Incident Rate (TRIR) (1) (1) Data as of December 31, 2021. Includes Chubb fire and security business. 16 BUILDING GREAT LEADERS® API Group#17The New API and Chubb Acquisition 17 BUILDING GREAT LEADERS® APIO Group#18Strategic Rationale APi Group Chubb Acquisition + Chubb Expands on asset light, low capex, high free cash flow conversion services platform Supports API's goal of increasing service mix to 50%+ of net revenues via meaningful recurring revenue Enhances services platform with complementary offerings & cross-selling opportunities Organic growth & margin expansion opportunity utilizing API operating platform Adds internationally recognized Chubb brand to the API family of companies Highly accretive transaction with compelling synergies. Transforms APi into the world's leading life safety services provider APIO Group 18 BUILDING GREAT LEADERS®#19O Chubb Acquisition Chubb Meets Our Stated Investment Criteria Market Leaders in Niche Markets ☑ Combination forms a leading life safety services provider Leading fire and security market positions in each of top 6 geographies (1) Global trusted brand boasting strong, tenured customer relationships History of Strong Free Cash Flow Generation $ Low capital intensity business, with strong free cash flow conversion Stable margin profile with organic expansion opportunity Over 60% of Chubb's revenue is recurring in nature KEY INVESTMENT CRITERIA Experienced Management Team Incentivized and aligned leadership team with performance culture consistent with APi Re-energized team as business shifts from non- core to strategic priority Robust entrepreneurial spirit at branch level Recurring Revenue Profile with Diversified End Market Exposure до Recurring revenue base, with long-term visibility Well diversified across geographies, end markets, and clients Product-agnostic service offerings and strong relationships with key OEMs Value Accretive Compelling valuation at 13.9x LTM 6/30/2021 Adjusted EBITDA excluding synergies Transaction is expected to be immediately accretive to API Meaningful revenue and cost synergy opportunities Chubb is an iconic, market-leading safety brand globally with a 200+ year history of providing statutorily required and route-based services (1) Top six markets are France, UK/Ireland, Australasia (includes Australia and New Zealand), Canada, Hong Kong / China / Macau and Benelux (includes Netherlands and Belgium). BUILDING GREAT LEADERS® 19 API Group#20Chubb Acquisition Highly Strategic Acquisition with Significant Upside Potential We believe Chubb is a sleeping 1 2 giant and will be a 3 core asset for us that we plan to 4 invest behind 20 BUILDING GREAT LEADERS® 5 Integrate and enhance combined corporate culture and values to bring out the best of both organizations Greater investment and increased support to the Chubb team to drive improvements in the organization and realize financial profile in line with API's Safety Services segment Access to Blackstone's substantial commercial property portfolio in the U.S. and internationally as a result of Blackstone's preferred equity investment Drive operational improvements and reinvest free cash flow to achieve best in class returns Near-term capital allocation plan focused on deleveraging through asset-light, high free cash flow conversion operating model APİ Group#21Chubb Acquisition End-to-End Business Model Delivering Predictable Revenue 1 Experienced technicians engage directly with customers to develop and install a bespoke integrated system Establishes the foundation for future recurring revenue "Do & Charge" pull through revenue 4 from customer maintenance visits 60%+ recurring revenue, drives high degree of revenue visibility "Do & Charge' " * Design and Installation Customer Engagement Technical Expertise in Complex Solutions Integrated Systems 2 Service & Maintenance System Upgrades Break and Fix Pull Through Revenue Chubb Recurring Contractual Revenue Frequent Customer Interaction Recurring Contractual Revenue Highly Responsive Emergency Management 2 3 Multi-year service contracts to maintain and update systems acquired through Chubb installation and service Provides robust portfolio value and predictable recurring revenue Technicians increasingly able to perform maintenance remotely Secure, connected network of 20+ monitoring centers provides 24/7 fire and security monitoring Enables security coverage without an on-site presence 3 Monitoring Chubb's operating model drives predictable recurring revenue and a consistent sales cycle 21 BUILDING GREAT LEADERS® API Group#22Underlying Addressable Market Growth Chubb Organic Growth Potential Growth Levers O Chubb Acquisition Fire Safety Electronic Security Cross-Selling Opportunities Investment in Salesforce Route Optimization Remote Service Delivery Volume and Pricing Opportunity 22 BUILDING GREAT LEADERS® EBITDA Revenue Full Organic Growth Potential APİ Group#23An A The Path Forward 23 BUILDING GREAT LEADERSⓇ APIO Group#24The Path Forward Strong Margin and Cash Flow Profile with Clear Path to Margin Expansion Deliver long-term organic revenue growth above industry average 1 ΟΟΔ 00⭑ ⭑OA + Improve Mix Grow inspection revenue by 10%+ annually KEY FINANCIAL TARGETS Expand adjusted EBITDA margin to 13% + BY YE 2025 Maintain average adjusted free cash flow conversion of Long-term net leverage ratio of -80% 2.0x-2.5x ILLUSTRATIVE PATH TO ADJUSTED EBITDA MARGIN EXPANSION 2 3 4 24 BUILDING GREAT LEADERS® Disciplined Project and Customer Selection Improve contract loss rate + + Pricing Opportunities Strategic M&A Synergies Leverage SG&A/COGS Procurement Shared services = Operational Excellence Just be better 5 Adjusted EBITDA Margin Expansion Opportunity API Group#25Driving Long-Term Growth $ ORGANIC EXPANSION GROW Recurring service revenue Geographic expansion Expansion into adjacencies Channel expansion CAPITALIZE Improved project and customer selection Increase market share Pricing opportunities Investment in back- office infrastructure Increase margins SCALE Expand core business and service offerings Sister company cross-selling Grow national accounts Win more share of entire facility life cycle Leverage scale and drive margins 25 BUILDING GREAT LEADERS® + The Path Forward M & A SEEK Disciplined, opportunistic and accretive acquisitions Incremental customer base Add capabilities in adjacencies API Group#26Financial Highlights 26 BUILDING GREAT LEADERS® 20/8 X 1-1/2 APIO Group#272022 Guidance NET REVENUES $6.3 - $6.5 billion 27 BUILDING GREAT LEADERS® ADJUSTED EBITDA Financial Highlights $650 – $700 million - о API Group#282022 Guidance Financial Highlights 2022 net revenues between $6.3 to $6.5 billion driven by API's relentless focus on growing recurring service revenue Growth in net revenues on an organic basis at fixed currencies of 6 - 7%, in line with historical performance о 2022 adjusted EBITDA between $650 to $700 million, which will be largely dependent on the speed in which we finalize and implement certain integration activities across our platform 28 BUILDING GREAT LEADERS® API Group#2929 BUILDING GREAT LEADERS® Appendix APIO Group#30Segment Overview Appendix Safety Services Life Safety Access control Backflow devices Emergency and exit lighting Emergency fire suppression systems Fire alarm and detection systems Fire pumps Personal emergency response services Remote monitoring Security and surveillance systems Temperature scanning HVAC Services Controls technology and entry systems HVAC systems and service and maintenance Plumbing engineering and installation Specialty Services Infrastructure / Utility Electric and gas utility maintenance Fiber optic and cellular system installation and maintenance Natural gas line distribution services Underground electrical and fiber optic cable installation Water line and sewer installation Specialty Contracting Insulation, ventilation and temperature control Plant maintenance and outage services Specialty industrial and commercial ductwork Fabrication Structural fabrication and erection Industrial Asphalt paving and production Concrete flat work and bridges Leak repair and pipeline replacement Pipeline work and integrity testing 30 BUILDING GREAT LEADERS® API Group#31Chubb Safety Services Overview SECURITY SERVICES 31 Integrated Security Solutions Monitoring, Video Verification and Remote Guarding Intruder Detection Access Control A wwww Chubb ano Chubb W I Detection and Alarm Systems Fire Protection Equipment Fire Suppression Systems Water Mist Systems Consultancy, Installation, Maintenance, Remote Services and Training BUILDING GREAT LEADERS® Appendix LIFE SAFETY API Group#3240174 STON DARGE Driving Recurring Revenue 32 BUILDING GREAT LEADERS® 0000 ODDD Appendix Stable, higher margin recurring revenue Economic resiliency Statutorily mandated Multiplier effect (3-4x) service return (1) Clearly defined objectives and goals $ Pricing opportunities (1) Based on management estimate. API Group#33API's Disciplined Acquisition Strategy KEY CRITERIA DEAL SOURCING Alignment of values and culture fit History of strong free cash flow generated Experienced management team with proven record Service growth component Accretive to API's financial profile Industry associations Track record Company leader referrals Cold calls Brokers/investment banks 85+ accretive acquisitions successfully completed since 2005 33 BUILDING GREAT LEADERS® Appendix API Group#34SCRAFF G OWNCONG 50% ん 0.5% 3-16 ON TO AUX DRAN ACCESS PANEL 74 PF TYP x19% doct th OFF L B-Z A21 48 ◉ Value of APi Platform 34 BUILDING GREAT LEADERS® APLO INTEGRATION OVERVIEW Appendix ■ ■ ◉ ■ Focused integration activity to drive and capture. cost savings Drive cultural integration with fully engaged employees • Leverage purchasing power Drive longer-term revenue synergies through cross-selling opportunities. Sharing of best practices Pricing opportunities POWERED BY API Group APİ Group#35Best-in-Class Leadership Development ACCELERATED READINESS PROGRAM ("ARP") 20-month cohort program to accelerate the readiness of individuals to successfully lead business units, branch offices, or large departments within operating companies and API Group ~$25 - $30 million Spend on Leadership Development Over the Last Five Years FIELD LEADER DEVELOPMENT Appendix ADDITIONAL LEADERSHIP OPPORTUNITIES Field FMI Field Leader Day Leader Institute Inclusive access to online learning technology 650+ Field Leaders Sent to FMI Field Leadership Institute Since 2014 ~2,500 Attendees of One-Day Leading Self Program Executive coaching ■Leadership compass Learning management system ■ Succession development EQI, DISC, and 360 assessments, debriefs and workshops. 35 BUILDING GREAT LEADERS® APİ Group

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