Positioned for Strong Recovery in FY2023 & Beyond

Balance Sheet and Cash Flow ($ Millions) Cash Debt Liquidity¹ FY2023-Q1 FY2022-Q1 B/(W) $5.7 $4.1 $1.6 $(149.1) $(165.3) $16.2 $84.4 $92.8 $(8.4) Operating Cash Flow $19.9 $(33.1) $53.0 Adj. Free Cash Flow2 $19.6 $(34.1) $53.7 Trade Working Capital* $33.8 $(24.0) $57.8 Positive Free Cash Flow for Q1, primarily due to Trade Working Capital BLUE BIRD * Inventories, accounts receivable and accounts payable 1Minimum liquidity covenant for FY23-Q1 of $30M 2 See appendix for additional detail regarding non-GAAP measures 27 22

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