Investor Presentaiton

Detailed Transaction Overview Pro-Forma Valuation 112.575 $10.00 $1,126 (325) 115 $915 Bridger Offers an Attractive Valuation without Requiring a PIPE Investment or Minimum Cash Threshold Valuation and Capital Structure Fully diluted pro-forma enterprise value of $915 million Transaction is expected to generate $325 million of cash to the balance sheet (assuming no redemptions) which will serve as dry powder for fleet expansion and proprietary strategic investments The 2023 growth plan is fully funded and not contingent on any SPAC proceeds ■ Existing Bridger Shareholders are rolling 100% of their existing equity (1) Illustrative Pro-Forma Ownership (2)(3)(5)(7)(8)(9)(10) JCIC Sponsor and Independent Directors 7% (3)(7)(8) Pro Forma Shares (1)(2)(3)(7)(8) Assumed Share Price Pro Forma Equity Value Less: Net Cash Proceeds Plus: Existing Net Debt (4) Pro Forma Enterprise Value JCIC Public Shareholders 28% (2)(3) Estimated Sources (1) Cash in Trust (2) 349 Stock Consideration to Existing Bridger Shareholders (1) 725 Existing Bridger Shareholders 65% (7)(9)(10) Total Sources $1,074 Estimated Uses Stock Consideration to Existing Bridger Shareholders (1) Estimated Fees & Expenses (6) 725 24 Cash to Balance Sheet Total Uses 325 $1,074 Note: Share and $ amounts shown in millions, except for share price and ownership percentages (1) Includes ~30.1 million shares in respect of Bridger's existing Series C shares (assumes conversion of outstanding balance prior to deSPAC of ~$331.1 million at a $11.00/share conversion price) and 39.3 million shares in respect of the other Bridger existing equityholders. (2) Assumes no redemptions and includes 34.5 million JCIC public shares but excludes the impact of 17.3 million outstanding out-of- the-money JCIC public warrants (with exercise price of $11.50). (3) Excludes the impact of 9.4 million outstanding out-of-the-money JCIC sponsor warrants (with exercise price of $11.50). (4) Includes USDA debt of $36.0 million, plus bank debt of $25.0 million and Gallatin County Municipal Bond debt of $160.0 million less balance sheet cash of $106.0 million as of Q3 2022. (5) Percentages may not sum to 100% due to rounding. (6) Fees and expenses are subject to change and excludes $6.0 million deferred underwriting fees related to the JCIC initial public offering after the waiver by J.P. Morgan Securities LLC upon its resignation. (7) Subject to adjustment if (i) the amount in the JCIC trust account remaining after redemptions is less than $20 million and (ii) the aggregate transaction expenses of either Bridger or Jack Creek, respectively, exceed $6.5 million. See footnote 1 on Slide 40 for additional information. (8) includes the 20% of JCIC's sponsor's shares subject to potential forfeiture based on a performance-based vesting schedule. (9) Includes additional pre-Closing equity grants to Bridger's management of up to 10% of the post-Closing outstanding shares, or 11.3 million shares assuming no redemptions. (10) See footnote (5) on Slide 16. 33

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