Investor Presentaiton

Reiterating Our 2023 Guidance KEY EXPECTED DRIVERS Price Strategy to Align with Costs and Value of Products/Services Operational Discipline - Targeted Bid Strategy, Cost Focus Select Infrastructure Tailwinds INCOME STATEMENT GUIDANCE REVENUE $2.5 BN-$2.7 BN EBITDA $300 MM $350 MM - CASH USAGE Record First Quarter Backlog of $959 MM CAPITAL EXPENDITURES $125 MM Note: EBITDA, Adj. EBITDA and Cash Flow are non-GAAP measures, see Appendix for reconciliation. Reflects 2023 guidance as disclosed on 5/4/2023. KNIFE RIVER 47

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