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INDUSTRY DIGITIZATION INDEX McKinsey&Company DIGITIZATION SCALE HIGH but Inefficient and in the Early Stages of Digitization 1% annual growth rate in construction labor productivity over the past two decades, less than half the cross-industry average of 2.8% LOW --- SECTORS Information & Communicatio Technology Media Professional Services Finance and Insurance $500B+ the cost of rework spent globally in 2018 of which 52% was caused by data/miscommunication poor Wholesale Trade Advanced Manufacturing CERDAS THE Oil & Gas Utilities Pharmaceuticals Chemicals & Basic Goods Manufacturing Mining Real Estate Transportation & Warehousing $1.6T potential to add $1.6T of global GDP annually from productivity gains Education Retail Trade Sources: McKinsey Global Institute, Reinventing Construction (2017), McKinsey Global Institute, Imagining Construction's Digital Future (2016), Gartner, Forecast: 1Q21 Update, March 2021 (Used to obtain total IT spend across all industries), FMI Industry Report: Construction Disconnected (2018). The total cost of rework globally in 2018 was $538B. HELLE PROCORE Entertainment & Recreation Personal & Local Services Government Construction er Enterprise IT Spending by Vertical Industry Market, Worldwide, 2019-2025, Agriculture & Hunting PROPRIETARY AND CONFIDENTIAL | 5

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