Investor Presentation
Disclaimer
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 March 31, 2023, prepared as of May 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.
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"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.
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BIRD CONSTRUCTION INC.
INVESTOR PRESENTATION
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