#1bird bir 3RD 1 LOCAL 27 bird TED REID bird bird bird We bring life to vision Creating great things with you Q2 2023 Investor Presentation August 10, 2023 Bird Construction Inc. (TSX:BDT)#2Disclaimer bird This presentation contains forward-looking statements and information ("forward-looking statements") within the meaning of applicable Canadian securities laws. The forward-looking statements contained in this presentation are based on the expectations, estimates and projections of management of Bird Construction Inc. ("Bird" or "The Company") as of the date of this presentation unless otherwise stated. The use of any of the words "believe", "expect", "anticipate", "contemplate", "target", "plan", "outlook", "potential", "estimated", "intend", "consensus", "future", "may", "will", "should" and similar expressions are intended to identify forward-looking statements. More particularly and without limitation, this presentation contains forward-looking statements concerning: anticipated financial performance; the outlook for 2023; expectations with respect to anticipated revenue growth, growth in earnings per share and adjusted EBITDA in 2023 and margin improvements; the Company's ability to grow profitably; sufficiency of working capital; and with respect to Bird's ability to convert Pending Backlog to Backlog. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to the risks associated with the industries in which the Company operates in general such as: operational risks, industry and inherent project delivery risks; ability to hire and retain qualified and capable personnel; global pandemics; delays or changes in plans with respect to growth projects or capital expenditures; costs and expenses; health, safety and environmental risks; commodity price, interest rate and exchange rate fluctuations; compliance with environmental laws risks; competition, ethics and reputational risks; ability to access sufficient capital from internal and external sources; repayment of credit facility; collection of recognized revenue; performance bonds and contract security; potential for non-payment and credit risk and ongoing financing availability; regional concentration; regulations; dependence on the public sector; client concentration; labour matters; loss of key management; subcontractor performance; unanticipated shutdowns, work stoppages, strikes and lockouts; maintaining safe worksites; cyber security risks; litigation risk; corporate guarantees and letters of credit; volatility of market trading; failure of clients to obtain required permits and licenses; payment of dividends; economy and cyclicality; Public Private Partnerships project risk; design risks; completion and performance guarantees/design-build risks; ability to secure work; estimating costs and schedules/assessing contract risks; quality assurance and quality control; accuracy of cost to complete estimates; insurance risk; adjustments and cancellations of backlog; joint venture risk; internal and disclosure controls; Public Private Partnerships equity investments; failure to realize anticipated synergies; and changes in legislation, including but not limited to tax laws and environmental regulations. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on other factors that could affect the operations or financial results of the parties, and the combined company, are included in reports on file with applicable securities regulatory authorities, including but not limited to Bird's Annual Information Form and Management's Discussion and Analysis for the year ended December 31, 2022, each of which may be accessed on Bird's SEDAR profile, at www.sedar.com and on the Company's website at www.bird.ca. The forward-looking statements contained in this presentation are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. www.bird.ca BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 2#3Disclaimer bird TERMINOLOGY AND NON-GAAP & OTHER FINANCIAL MEASURES Throughout this presentation, management uses certain terminology and financial measures that do not have standard meanings under IFRS and are considered specified financial measures. These include non-GAAP financial measures, non-GAAP financial ratios, and supplementary financial measures. These measures may not be comparable with similar measures presented by other companies. Further information on these financial measures can be found in the "Terminology and Non-GAAP & Other Financial Measures" section in Bird's most recently filed Management's Discussion & Analysis for the period ended June 30, 2023, prepared as of August 9, 2023. This document is available on Bird's SEDAR profile, at www.sedar.com and on the Company's website at www.bird.ca. • • • • "Backlog" is a term representing the total value of all contracts awarded to the Company, less the total value of work completed on these contracts as of the date of the most recently completed quarter. The Company's Backlog equates to the Company's remaining performance obligations as disclosed in the Company's most recent notes to the financial statements filed on SEDAR. Additions to remaining performance obligations are also referred to by the Company as "Securements". "Pending Backlog" is a supplementary financial measure representing the total potential revenue of awarded but not contracted projects including where the Company has been named preferred proponent, where a contract has not been executed and where the letter of intent or agreement received is non-binding. It may also include amounts for agency relationship construction management projects, pre-construction activities and estimated future work orders to be performed as part of multi-year MSA, maintenance, task order, and similar contractual arrangements". "Gross Profit Percentage" is a supplementary financial measure representing the percentage derived by dividing gross profit by construction revenue. "Adjusted Earnings" is a non-GAAP financial measure defined as IFRS net income excluding asset impairments, acquisition, integration and restructuring (as defined in accordance with IFRS) costs and the income tax effect of these costs. "Adjusted Earnings Per Share" is a non-GAAP financial ratio calculated by dividing Adjusted Earnings by the basic weighted average number of shares. "Adjusted EBITDA" is a non-GAAP financial measure representing earnings before taxes, interest, depreciation and amortization, finance and other costs, finance income, asset impairment charges, gain or loss on sale of property and equipment, restructuring and severance costs outside of normal course, and acquisition, integration and restructuring (as defined in accordance with IFRS) costs. "Adjusted EBITDA Margin" or "Adjusted EBITDA Percentage" is a non-GAAP financial ratio representing the percentage derived by dividing Adjusted EBITDA by construction revenue. www.bird.ca BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 3#4Disclaimer bird TERMINOLOGY AND NON-GAAP & OTHER FINANCIAL MEASURES (continued) • • • • "Current Ratio" is a supplementary financial measure representing the percentage derived by dividing total current assets by total current liabilities. "General and Administrative expenses as a percentage of revenue" is a supplementary financial measure representing the percentage derived by dividing general and administrative expenses by construction revenue. "Adjusted Net Debt" is a non-GAAP financial measure defined as current and long-term loans and borrowings as disclosed in the Company's statement of financial position, less accessible cash, as disclosed in the Company's notes to the financial statements. Management uses this as a measure of financial leverage and is part of its assessment of the Company's capital structure. At June 30, 2023, Adjusted Net Debt of $17,463 is calculated as: Loans and borrowings (non-current) $65,867 plus Current portion of loans and borrowings $6,656 minus Accessible cash $55,060. "Adjusted Net Debt to TTM Adjusted EBITDA" is a non-GAAP financial ratio calculated by dividing Adjusted Net Debt by the Company's trailing twelve-month Adjusted EBITDA. Management uses this as a measure of financial leverage and is part of its assessment of the Company's capital structure. "LT Loans & Borrowings to Equity" is a supplementary financial measure calculated as non-current loans and borrowings divided by total shareholders' equity, as disclosed in the Company's consolidated statement of financial position www.bird.ca BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 4#5Positioned For Growth on Strong Business Foundation bird Bird Construction | TSX: BDT Bird is a leading Canadian construction service and maintenance company, providing integrated solutions and delivering best-in- class execution through a collaborative, safety-first approach. Our comprehensive services encompass end-to-end, full-project lifecycle solutions for a diverse range of clients in the industrial, infrastructure, and institutional markets. Our dynamic workforce, of over 5,000 individuals, is united by our shared values, and together we have built a reputation for world-class quality and relationships founded on respect, humility, and honesty. Rooted in our purpose of bringing life to vision and creating greatness together, we prioritize safety as non-negotiable, foster an inclusive workplace that unlocks our collective potential, and embrace growth with solution-focused thinking to navigate an evolving world. Through our commitments to a more sustainable future, we focus on reducing environmental impact, promoting social responsibility, and enhancing the communities we serve. Our passion for excellence extends from our work to our relationships, nurturing a culture where greatness grows. A healthy and safe work environment is non-negotiable Growing revenue, 00 solid profitability $ Approximately 90% of projects are low to medium-risk projects Well-capitalized balance sheet www + Team of 5000+ Experienced management team Strong operational cash flows > 70% of combined backlog and pending backlog has a collaborative delivery model Organic and acquisitive growth, driving diverse services and larger self- perform scopes www.bird.ca BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 5#6bird Constructing a Strong Foundation Created a Strong Foundation Improved geographic and end market diversification Increased recurring revenue Reduced risk profile of backlog Limited exposure to fixed-priced contracts Acquired transformational business: Stuart Olson Acquired accretive tuck-in: Dagmar Key Near-Term Strategic Priorities Enhance cross-selling opportunities Continue to improve margins Maintain financial flexibility Enhance ESG framework Continue to deliver superior shareholder returns BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 6#7bird Experienced Multidisciplinary Team Strong Team of Constructors - - - Leveraging our talent leadership team Deep bench strength and recruiting for the future Robust people programs supporting continuous learning and development Continuous improvement and innovation focus Committed to Diversity and Inclusion#8Values bird WE PUT SAFETY FIRST A healthy and safe work environment is non- negotiable. We build a culture of operational and psychological safety through engagement, learning and leadership. WE LEAD WITH HONESTY We speak and act with integrity, clarity and care so people can trust our word and our work. Being honest means we can deliver the best outcomes and consistent results. WE ARE STRONGER TOGETHER Success is a team effort. Our inclusive workplace enables our combined expertise, humility and creativity to unlock our greater potential. WE ARE DRIVEN TO DO GREAT WORK We built our name on quality. We have a passion for excellence in our work and relationships that honours our businesses and our industry. WE CREATE OPPORTUNITY Rooted in a solid foundation, we adapt and grow to face the future. We are committed to elevating each other to chart the best path forward in an evolving world. www.bird.ca BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 8#9Sustained Momentum, Revenue Growth, Record Combined Backlog Confidence in 2023 margin improvements Significant y/y revenue growth and positive outlook for improved earnings $ Growing combined Backlog and Pending Backlog, strengthening margin profile with collaborative, lower-risk projects, and significant self-perform work Healthy liquidity position with strong operational cash flows. funding growth and supporting strategic investments in productivity and capex Q2 2023 Highlights $686.4M Q2 2023 Revenue $29.5M Adjusted EBITDA (2) $3.0B Backlog(1) 19.0% $15.7M bird $0.26 $0.29 $13.7M Year-over-year growth Net Income EPS 4.3% Adjusted EBITDA Margin (1) $3.1B ~$1.0B Pending Backlog(1) Securements Q2 2023 Revenue Disaggregation Construction Management Integrated Project Delivery Cost-Plus 46% Adjusted Earnings (2) Adj. EPS (1) $80M Y/y increase in cash flows from op. activities Stipulated Sum Unit Price Public Private Partnership Design-Build-Finance Complex Design-Build Specified Design-Build 44% 6% 4% www.bird.ca (1) Refer to the Disclaimer slides for more information on Terminology and Non-GAAP & Other Financial Measures. (2) Adjusted Earnings and Adjusted EBITDA are non-GAAP financial measures. Refer to the Disclaimer slides for more information on Terminology and Non-GAAP & Other Financial Measures. Lower risk Higher risk#10What Sets Us Apart Q2 2023 Revenue +19.0% Y/Y Disciplined and strategic revenue growth • Strong organic revenue growth within a wide range of sectors. o Diverse revenue streams in high- demand, higher- margin sectors, with a balanced public/private client mix. Q2 2023 TTM Adj. EBITDA 4.2% Positive momentum on margin growth o Minimal exposure to high-risk lump sum turn-key projects and interest rate sensitive sectors. • Increased specialized, self- perform capabilities, focus on higher-margin potential sectors and collaborative contracts. +19% YTD Growth in Combined Backlog Significant recurring revenue contracts o 2023 second quarter-end Backlog $3.0B, Pending Backlog $3.1B. o Risk-balanced contracts across sectors and geographies. o $1.1B recurring revenue contracts at end of second quarter 2023. Q2 2023 Working Capital +10% Y/Y Strong balance sheet & financial flexibility 。 Well-positioned for capital allocation priorities. 。 Very positive return and capital efficiency metrics: Current Ratio, ROE, ROIC, ROCE(1) Track Record for Strong Integration and Retention Track record of accretive M&A • Successful integrations, growing volume of cross-selling. o 2023 - Trinity Communications, key growth market. o 2021 - Dagmar, delivered strong post-acquisition growth. 。 2020 - Transformational Stuart Olson Acquisition. bird + Growing Energy Transition Portfolio Elevated sustainability profile 。 Delivering energy transition projects and sustainable new build and retrofit services. 。 Implemented ESG strategy, positioning for future reporting. 。 2022 ESG Overview released May 9, 2023. 2023 Outlook: Low double-digit organic growth for 2023 www.bird.ca Further opportunity to improve margins through 2023 & 2024 Strong future revenue visibility with over 70% of combined backlog in a collaborative model (1) Financial metrics: Return on Equity (ROE), Return on Invested Capital (ROIC), Return on Capital Employed (ROCE). Positioned for growth and positive FCF generation Accretive, tuck-ins in key sectors; remain open to large opportunities and will be opportunistic BIRD CONSTRUCTION INC. Significant portfolio of sustainability projects INVESTOR PRESENTATION 10#11Highly Collaborative, Diverse Backlog Mix Strong visibility to continued revenue and margin growth Backlog expected to 67% convert into Revenue over the next 12 months $7,000 >70% Collaborative delivery models in Backlog and Pending Backlog in millions of Canadian dollars Growing Portfolio of Recurring Revenue Contracts in Pending Backlog bird MSA and other multi-year recurring contracts representing a recurring revenue stream over the next three to seven years $6,000 $1,100 $1,100 $5,000 ~$1.1 Billion $900 $800 $4,000 $600 $2,003 $1,897 $825 $1,590 $1,036 $3,000 Combined MSA and other multi-year recurring contracts 3-7 Years Average contract term $2,000 $625 $300 $3,003 $2,991 $2,682 $2,637 $2,695 $1,000 $1,547 $1,296 $0 2018 2019 2020 2021 2022 ■Backlog ■Pending Backlog Q1 2023 Q2 2023 ■Recurring Revenue ($) Growing recurring revenue supporting visibility and outlook www.bird.ca Tier one MRO contractor Growing nuclear recurring revenue portfolio Commodities related MSAs BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 11#12Expanded Capabilities Aligned to High Growth Sectors Executing Well on Strategic Pillars • • TEAM World class safety program Highly engaged, high-performance team with industry leading people programs that promote a culture of hungry, humble, and smart Strategic internal and external partnerships and collaborative contracting methods PERFORM Culture of operational excellence Innovative client solutions • Common and scalable technology platform that 0 ° • builds efficiencies Robust financial and risk management Consistent profitability and balanced backlog DIVERSIFY Diverse service offerings, market reach and geography with new and current clients Leverage integrated services nationally • Increase self-perform capabilities Promote positive relationships with Indigenous partners and communities Strong brand with balanced ESG strategy bird Positioned for growth with a significant pipeline of projects and a robust bidding environment for disciplined pursuit of new work. ~$1.0 billion in securements added in the second quarter July - Institutional: Post-Secondary and healthcare projects with a Combined Value of over $350M July - Industrial: Energy and Mining Sector Contracts with a Combined Value of over $180M May - Transportation: BC Ferries' Maintenance Facility Redevelopment Contract May - Mining: Heavy Civil Works at One of Canada's Largest Iron Ore Mines for New Client, Quebec Iron Ore May - Modular: Bird awarded Canada's tallest modular construction building under BC Housing's Permanent Supportive Housing Initiative - $50M April - Energy and Mining: MRO team awarded $300M in new agreements and additional scope to be executed under MSAs BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 12#13Significant Demand Trends - Public and Private Clients Budgets support significant growth in infrastructure FEDERAL INFRASTRUCTURE INVESTMENT PROGRAMS & BUDGET 2023 Canada Infrastructure Bank: Budget 2023 announced an investment of at least $20 billion to support building major clean electricity and clean growth infrastructure projects. Investing in Canada Plan: >$33 billion in funding for public infrastructure across the country including water and wastewater, transit, and other community facilities. BRITISH COLUMBIA: $37.5B over three years to be allocated to various infrastructure and capital projects including 3.4B over three years towards the replacement and construction of secondary and elementary schools; an additional $5.5B over three years to build capacity for post-secondary institutions; $11.2B investment for health facility upgrades; and $13.3B for transportation network improvements. ALBERTA: $6.9 billion over 3 years for municipal infrastructure including LRTS and water and wastewater facilities; $3.1B for health care and additional funding for education facilities. SASKATCHEWAN: $3.7 billion to build schools, hospitals, highways, municipal and 2.7 billion for Crown infrastructure including power generation and distribution, natural gas distribution, and telecommunications networks. MANITOBA: $14B capital investment plan over the next five years with $3 billion for 2023/2024; investing in education and healthcare, as well as highways and water treatment. www.bird.ca Sources: Provincial Budget Summaries; CIB Modular Building Institute's 2023 Permanent Modular Construction Report bird $3.0B over 13 years to support a more sustainable, secure, and affordable electricity grid. $1.5B for Critical Minerals Infrastructure Fund. $500M over ten years to the Strategic Innovation Fund to support the development and application of clean technologies. $2.7B for Canada's trade corridor including bridges, railways, ports and airports. Ontario: $70.5 billion for transit and over $48 billion in hospital infrastructure over the next 10 years; $15 billion in capital grants to expand and renew schools; nearly $4 billion to ensure every community across the province has access to high-speed internet by the end of 2005; and investing in exploration and innovation to support critical minerals including those in the Ring of Fire. QUEBEC: Infrastructure investments of $150 billion over ten years for education and healthcare infrastructure, transportation and public transit, and affordable housing. ATLANTIC: Significant spending for improving energy efficiency of buildings, affordable housing, healthcare, education and transportation infrastructure. TERRITORIES: YT - $480 million in capital projects; NT $328 million in infrastructure projects; NU - $338 million in capital projects; spending targeted to highways, housing, healthcare and LTC, renewable energy, and connectivity. BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 13#14Positioned to Capture Growth in Key Sectors Future Energy Services Buildings Construction Services Horizontal Civil Works Structural Civil Works Diverse range of services and self- perform scopes Heavy Civil Services Powerline & Telecoms Electrical and Instrumentation One Pass Trenching / Utilities Installations www.bird.ca Mechanical Renewables Self-Perform Modular Construction Fabrication Deep Energy Retrofits High Voltage Testing & Commissioning Insulation and Cladding General Contracting BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 14#15Permanent Modular Construction: Achieving New Heights Increasing awareness of the benefits of modular construction Bird has a growing portfolio of permanent modular projects. The modular approach provides cost savings and enhanced cost predictability, as well as a substantially reduced construction schedule facilitating faster occupancy than traditional builds. Modular construction delivers quality units on a rapid, repeatable scale, while still allowing for customization to meet clients' needs and delivering a final product with a look and feel comparable to traditional builds. Modular is an efficient solution for Canada's housing crisis and long-term care capacity challenges as well as rapid delivery of other important infrastructure that has a repeatable design format. Market Sectors bird • Affordable housing • Long-term Care • Hospitality Correctional facilities Recent Announcements Bird awarded Canada's tallest modular tower: BC Housing's Permanent Supportive Housing Initiative project on East King Edward Avenue in Vancouver, BC. The 14-storey modular project is valued at approximately $50 million. • The permanent modular construction industry topped $12 billion in North America in 2022, accounting for 6.03 percent of all new construction starts(1). (1) Modular Building Institute's 2023 Permanent Modular Construction Report www.bird.ca BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 15#16Energy Transition Partner Delivering critical energy solutions bird The evolving energy landscape demands significant investment in electrical infrastructure to achieve decarbonization goals. Bird has been a key long-term partner for many clients constructing and maintaining the energy systems that power the country. Bird's electrical capabilities and diverse self-perform scopes position the company to deliver this critical infrastructure. Wind .co. Carbon Capture Utilization and Storage (CCUS) Solar Nuclear/ SMR Power Plant Organic Waste/Biosolids Future Energy Hydroelectric Biogas & RNG Solutions & Pumped Storage • • Energy Globally over the next 3 decades greater than $125T is required in clean energy investment(1) Nuclear $50B, Renewables $550B(2) 2,000+ bird Electrical personnel (3) NUCLEAR Currently working with all of Ontario's active nuclear operators Hydrogen Production & Blending Battery Storage (1) International Energy Agency, Net Zero by 2050: A Roadmap for the Global Energy Sector (2021). (2) International Energy Agency, Net Zero by 2050: A Roadmap for the Global Energy Sector (2021): 'Sustainable Development Scenario 2015- 2030. (3) The company through its affiliated subsidiaries has an average of over 2000 electricians, linemen, technologists and technicians and access to other personnel through a variety of labour platforms. www.bird.ca Buildings Net Zero buildings opportunities (Deep energy retrofit of non-residential) 00 Multi-disciplinary expertise for deep energy retrofit solutions. bird Ccentre bird for building performance Mass Timber MacKimmie Tower Redevelopment 80% reduction in energy consumption and zero carbon building LLLL Toronto Western Hospital 90% of annual heating and cooling needs supplied by thermal energy from wastewater BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 16#17Leveraging Innovation and Technology Building Information Modelling & Virtual Design and Construction Maintenance, Repair, and Operation Management Leveraging Innovative Solutions Daily SHEEN 15 Aug 3016 C bird Desi Romsd Buising 12 Cato a TALA 55 Camorn Not Caven 21.8 ROSA Cedar Library BEPL SEM GHG 2018 B 2014 2012 2010 2009 Smart Building Performance Technology Budget Tracker Eles. Com Ou $5,500- Thresho $ 4.500x Deviation $1,000 Utilizing integrated multi-disciplinary performance models such as BIM/VDC to mitigate risk, enhance processes, and support the bottom line of our business, and our clients. Multi-year maintenance and turnaround contracts supporting major oil & gas clients through bundled service offerings, facility maintenance, and predictive technologies. Leveraging a variety of tools from virtual reality, drones, infrared scanning, and automated project software to strengthen our service offerings and save our clients time and money. Lifecycle building performance services through optimization, and integrated technologies from the planning stages, through to commissioning, and post-warranty. www.bird.ca BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 17 10 >#18Innovation and Technology Value bird Stack Modular Integrated solution bridging the gap between site and modular construction. Structural steel modular buildings up to 40-storeys for multi- family, hospitality, senior (long-term care) and student housing, and resource clients. Rapid Delivery Across Canada & The USA Opportunities Market Poised For Growth Schedule and Cost Certainty & Predictability Green - Reduced Waste and High Energy Efficiency Product BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 18#19Innovation and Technology Value bird Mass Timber Bird is a North American leader in wood construction with unmatched expertise, experience, and supply chain knowledge. ~1.2B 26 Completed Projects >$3B Targeted Mass Timber Pursuits ~$460M 6 Projects Under Construction in Canada Updated as of February 2023. BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 19#20Environmental, Social, Governance Launch Employee Resource Groups Pride Bird, Women@Bird, Indigenous@Bird, and MentalHealth@Bird Test GHG emission sources Calculate GHG emission baseline according to GHG Protocol and ISO standards Ongoing tracking and reporting of ESG KPIs Sustainable Construction Future Energy BUILD GREEN Stack Modular WORK GREEN LIVE GREEN 00 Prefabrication Formalize Board's ESG oversight role in Charters | OUR ESG JOURNEY Digital Construction Centre for Building Performance Supply Chain Management Waste Management Ongoing pilots to test ESG initiatives Identify and collect KPI data across sites and offices Release first annual Sustainability Overview Launch Three Year ESG Roadmap Launch ESG Working Groups Establish ESG governance structures O O O O O O Health, Safety & Environment Indigenous Relations Community investment People & Culture DEI Stakeholder Engagement COMMITMENT TO GOVERNANCE Risk Management Oversight Board Independence Board Diversity www.bird.ca Investigate global and industry approaches to ESG Value chain mapping, gap analysis, and internal strategic alignment Map material Develop ESG strategy and vision ESG topics Peer benchmarking alignment Stakeholder engagement BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 20#212022 ESG Highlights DIVERSITY AT BIRD bird 34% European origins 34% North American origins 28.5% African, Asian, Caribbean, or 3.5% Latin, Central and South American origins Indigenous Canadian origins Full-time salaried employees in 2022 who chose to disclose their ethnic origins 5,000+ Total Employees(2) 10,002,845 +30 Total internal work hours 4 New Employee Resource Groups WOMEN@BIRD WOMEN 30% Salaried employees 22.7% Leadership 30% Promotions PRIDE@BIRD LGBTQ2S+ Network Indigenous@Bird Indigenous Network (3) MentalHealth@Bird Mental Health Network (3) $17,500 Total scholarship spend Women's Network 97% Canadian suppliers engaged Hours training per employee (1) C 1 LTI >8,800 Tool Box Talks Lost Time Incident 0.02 LTIF Lost Time Incident Frequency BOARD 25% Women on the Board 8% Indigenous representation on the Board 66% Board Committee Chairs are Women 92% Independent Board Members >$800,000 Total community investment >$132,000 Indigenous community investment spend >$26M Total spend with Indigenous subcontractors and suppliers (in O 101,620 Total Audience 24.2% Total Audience Growth 99,970 Engagements 300.7% Increase in Video Views 2,638,373 Impressions 51,058 Post Link Clicks 21#22Q2 2023 Financial Highlights bird Three Months Ended June 30, 2023 Y/Y Change Six Months Ended June 30, 2023 Y/Y Change $ Millions (except per share amounts) Revenue $686.4 19.0% $1,222.9 16.8% Gross Profit $54.5 7.9% of Revenue (1) 25.5% $94.4 11.0% 7.7% of Revenue (1) $36.2 16.7% General and Administrative 5.3% of Revenue (1) $67.8 5.5% of Revenue (1) 8.7% Adjusted EBITDA(2) $29.5 4.3% of Revenue (1) 37.0% $13.7 (2.8%) Net Income Adjusted Earnings (2) $0.26 EPS $15.7 $0.29 Adj. EPS(1) 84.7% $21.0 $0.39 Adj. EPS(1) $45.5 3.7% of Revenue (1) $18.9 $0.35 EPS (7.8%) 39.3% 15.8% www.bird.ca (1) Refer to the Disclaimer slides for more information on Terminology and Non-GAAP & Other Financial Measures. (2) Adjusted Earnings and Adjusted EBITDA are non-GAAP financial measures. Refer to the Disclaimer slides for more information on Terminology and Non-GAAP & Other Financial Measures. BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 22#23Sustained, Strong Financial Position Q2 2023 23.4% Long-term Loans & Borrowings to Equity(1) 1.22 Current Ratio(1) bird in millions of Canadian dollars June 30, 2023 0.08x Adjusted Net Debt/ TTM Adjusted EBITDA (1) Accessible cash Restricted cash Held in joint operations accounts Cash and cash equivalents Syndicated Credit Facility $ $220M Committed Revolving Credit Facility UP TO $50M Non-committed Accordion Feature $47.5M Committed Non-revolving Term Debt Facility Syndicated Credit Facility Maturity December 15, 2025 (1) Refer to the Disclaimer slides for more information on Terminology and Non-GAAP & Other Financial Measures. (2) Adjusted Net Debt is a non-GAAP financial measure. Refer to the Disclaimer slides for more information on Terminology and Non-GAAP & Other Financial Measures. www.bird.ca $ 55 $ 31 $22 $ 107 Loans and borrowings (current and long-term) $ 73 Adjusted Net Debt (2) $ 17 Working Capital $ 177 Shareholders' equity $ 281 BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 23#24in millions of Canadian Dollars Capital Allocation Highlights Balancing profitable growth, significant financial strength, investments in the business and M&A Cash Generation Operating Cashflow (1) ― $140 $120 $100 $80 $60 $114 $103 $40 $72 $20 A $30 $25 $29 $29 2020 2021 2022 2022 Q2 2023 Q2 Capex bird Dividends 10% dividend increase - on positive outlook in December 2022 Increased monthly dividend commenced in March 2023 Expected dividend payout ratio below 40% of net income for the year Historical Dividend Payout Ratio of 2022 2021 Net Income M&A Positioned to execute on the right M&A opportunities - Three strategic acquisitions in past 3 years Track record as a strong integrator and for retention of skilled teams Continue to seek out accretive opportunities, that add capabilities and generate cash flows $20 $15 $28 $10 $14 $5 $12 $8 $6 $- 2020 2021 2022 2022 Q2 2023 Q2 $ -- 2020 20% 40% 60% $0.0358 per month, per share www.bird.ca (1) Operating cash flow - Refer to the consolidated statement of cash flows - "Cash flows from operations before changes in non-cash working capital". (2) Capital expenditures ("Capex") - Refer to the consolidated statement of cash flows - "Additions to property and equipment and intangible assets”. stuartolson DAGMAR CONS INC. RUCTION AJAX - ONT TRINITY BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 24#25AUPE - Growth and Margin Trends Support 2023 Outlook High demand for Bird's services and disciplined project selection driving growth: significant government funding for infrastructure and institutional projects; active commodities market with a significant pipeline of major projects; solid opportunities for sustainability and energy transition-related projects Primarily collaborative and diversified mix of complex projects in growing combined Backlog and Pending Backlog with improving embedded margins bird Raised expectations for full-year revenue growth from high-single digit to low-double digit organic revenue growth for 2023 Growth expectations for EPS sufficient to achieve an expected dividend payout ratio below 40% of net income for the year Gross profit margin improvement and further leverage on cost structure helping to drive higher EBITDA margins Earnings per share and adjusted EBITDA growth are expected to outpace revenue growth for the full year Healthy balance sheet, strong operational cash flows, significant credit capacity Tuck-in M&A strategy to seek out high-growth potential businesses with strong margin and cash flow profiles 676 676 bird#26Appendix bi 11-542 HyFle 0- FLANGES win G 10010 UG B17 <2997#27$2,500 $2,000 $1,500 $1,000 $500 $1,504 Revenue, Net Income, and Adjusted Earnings REVENUE $2,378 $2,220 +19% $60 NET INCOME $0.93 $0.80 $0.80 $50 $40 +16% $30 bird ADJUSTED EARNINGS(¹) $0.96 $1.00 $60 $0.92 $0.86 $0.90 $50 $0.80 $0.70 $40 $0.60 $1.00 $0.90 $0.80 $0.70 $0.60 $0.50 $30 $0.50 $50 $0.38 $0.35 $0.40 $51 $0.39 $0.40 $43 $46 $20 $36 $0.26 $0.26 $20 $42 $0.30 $0.29 $0.28 $0.30 $0.20 $21 $19 $10 $14 $14 $0.10 $0.16 $0.20 $21 $16 $15 $0.10 $9 $1,223 $1,052 $10 $686 $577 $- $0 $0.00 $0 2020A 2021A 2022A 2022 2023 YTD YTD Q2 Q2 2022 2023 2020A 2021A 2022A 2022 Revenue Revenue Growth Net Income 2023 YTD YTD Q2 Q2 2022 2023 -EPS 2020A 2021A 2022A 2022 2023 YTD YTD Q2 Q2 2022 2023 Adj. Earnings -Adj. EPS (1) Adjusted Earnings is a non-GAAP financial measure and Adjusted EPS is a non-GAAP financial ratio. Refer to the Disclaimer slides for more information on Terminology and Non-GAAP & Other Financial Measures. www.bird.ca BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 27 $0.00#28Sector Volume Diversification 2022 Balanced Sector Diversification Balanced work programs between commercial and institutional work, while largely maintaining Industrial work to drive stronger growth. The current composition of Bird's Backlog and Pending Backlog, as well as sector diversification between Institutional, Industrial, and Commercial contracts, appropriately balances customer concentration, contract size, contracting method, and end-market diversification. - Wayne Gingrich, Chief Financial Officer www.bird.ca bird 26% 24% 34% 37% 37% 43% 44% 43% 56% 53% 66% 19% 15% 37% 20% 22% 18% 15% 15% 17% 15% 57% 13% 51% 43% 39% 41% 41% 42% 37% 29% 30% 21% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Institutional Commercial Industrial BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 28#29Higher risk Diversifying Risk - Revenue by Contract Type $29 $15 • Public Private Partnership $59 $135 $102 $101 (PPP) $177 $179 • bird in millions of Canadian dollars $55 $121 Design-Build-Finance Complex Design-Build $1,236 $1,342 $943 $792 • Stipulated Sum Unit Price $806 Specified Design-Build $910 • Construction Management $860 Lower risk $432 • Integrated Project Delivery $261 $305 • Cost-Plus • 2018A 2019A 2020A 2021A 2022A Increased diversification across services, end-markets and geographies; well-balanced portfolio of low-to-medium risk projects Over 92% of 2022 revenue is considered low-to-medium risk and supports the company balanced revenue mix target Focus on maintaining balanced profile and driving a higher share of collaborative contracting methods with our clients to balance the risk transfer between parties www.bird.ca BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 29#30Capital Markets Overview $8.94 ~4.8% Price as of August 4, 2023 Dividend Yield(1) BDT.TSX $5.79/$9.55 53,774,639 52 Week Low/High Shares Outstanding ~480M Market Capitalization bird ANALYST COVERAGE Firm ATB Capital Analyst Contact Firm Analyst Contact Chris Murray 416.520.0267 [email protected] Canaccord Genuity Yuri Lynk 514.844.3708 National Bank Financial Raymond James Maxim Sytchev 416.869.5617 Frederic Bastien 604.659.8232 [email protected] CIBC Capital Markets Jacob Bout 416.956.6766 Stifel GMP Ian Gillies Industrial Alliance Securities Naji Baydoun [email protected] 514.830.8077 TD Securities Michael Tupholme Laurentian Bank Securities [email protected] [email protected] (1) Dividend yield based on the March 2023 dividend of $0.0358 per share, payable in April. www.bird.ca [email protected] [email protected] 416.943.6108 [email protected] 416.307.9389 [email protected] Jonathan Lamers 416.577.1755 BIRD CONSTRUCTION INC. INVESTOR PRESENTATION 30#31bird Q2 2023 Investor Presentation Bird Construction Inc. (TSX:BDT)