Slide 1: Investor Presentation
INVESTOR PRESENTATION May 29, 2020 Teri McKibbon President & Chief Executive Officer Wayne Gingrich Chief Financial Officer
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking information that is based on current expectations and are subject to a number of uncertainties and risks, and actual results may differ materially. These uncertainties and risks include, but are not limited to: industry cyclicality; competition;
Slide 3: Proudly Marking 100 Years of Building Canada
PROUDLY MARKING 100 YEARS 2010s: Acquisition of OF BUILDING CANADA HJ O’Connell Nason and Stack Modular 1990s: Bird plays major role in Walmart’s Canadian roll-out 2020s: Diverse 1970s: Bird begins foray portfolio of into Alberta oilsands projects across construction 2000s: Acquisition Canada 1950s:
Slide 4: Build Bird Strategy
BUILD BIRD STRATEGY Build the Build Business Relationships ✓Diversification ✓Customer First ✓Profitable Growth Approach ✓Efficient Processes & ✓ESG Cost Structure ✓Integrated ✓Safe Production Bird Teams Build the Team ✓National Builder ✓Grow Our Talent ✓2021 – 2023 Strategic ✓Employer of Planning un
Slide 5: Why Invest in Bird - BDT 2020 Q1
WHY INVEST IN BIRD - BDT 2020 Q1 $1.4B Backlog that is geographically dispersed Diversified Diversified Backlog and Pending Backlog across multiple sectors $321.6M Portfolio and contract types Revenue Minimal (<1%) exposure to oil sector Strong focus on project execution $1,427M Balanced Backlog Low
Slide 6: Diverse Expertise
DIVERSE EXPERTISE BUILDINGS LIGHT INDUSTRIAL NATURAL RESOURCES A leading builder with offices from coast-to-coast serving a broad scope of end- MODULAR POWER TRANSPORTATION markets. ENVIRONMENTAL UTILITIES INDUSTRIAL MAINTENANCE
Slide 7: Flexible Diversity Supporting Resilience
FLEXIBLE DIVERSITY Contract Diversification (Revenue) SUPPORTING RESILIENCE ▪ Gross Profit Q1 2020 – 5.3% 120 Volume Diversification (Revenue) 25.0% 100 20.0% 80 43 53 66 15.0% 60 18 10.0% 40 17 ▪ Q1 2020 Revenue included 4.8% from PPP 13 5.2% 5.0% ▪ LNG - fully mobilized/well-positioned for future
Slide 8: Mass Timber
MASS TIMBER Bird is a North American leader in wood construction with un- matched expertise, experience, and supply chain knowledge. >$185M completed or under construction >$175M pre construction >$1B opportunities across Canada
Slide 9: Stack Modular
STACK MODULAR Turnkey solution bridging the gap between site and modular construction. Structural steel modular buildings up to 40 storeys for multi-family, hospitality, senior (long-term care) and student housing, and resource clients. Opportunities market poised for growth Schedule and Cost certai
Slide 10: Strong Backlog and Pending Backlog
STRONG BACKLOG 2,500 March 31, 2020 AND PENDING BACKLOG in millions of Canadian dollars ▪ Backlog 11.2% higher y/y 2,000 625 ▪ Six sequential quarters of 750 600 625 improving TTM Adjusted 1,500 500 EBITDA % 300 225 ▪ Higher risk contract revenue (1) contribution 1,000 down y/y (16.1% Q1 2020 1,547
Slide 11: Strong Balance Sheet and Cash Position
STRONG BALANCE SHEET March 31, 2020 AND CASH POSITION ▪ Strong year-over-year improvement in cash flows from operations before changes in non-cash working capital 26.7% 1.12X ▪ Balance sheet positions us well to continue to invest LT Debt to equity Current ratio in long-term growth through organic a
Slide 12: Adjusted EBITDA 2020 Q1
ADJUSTED EBITDA 2020 Q1 Trailing Twelve Month (TTM) Adjusted EBITDA in millions of Canadian dollars 2.79% TTM Adjusted EBITDA Q1 2020 6 Sequential quarters of improving TTM Adjusted EBITDA % Adjusted EBITDA and Adjusted EBITDA % are non-GAAP measures. “Adjusted EBITDA” represents earnings (loss) bef
Slide 13: Bringing value to the communities where we live, work and build
Bringing value to the communities where we live, work and build Environmental Stewardship Social Responsibility Corporate Governance ▪ LEED certified projects and ▪ Support for health care foundations, ▪ A strong culture of ethical professionals food and clothing banks, community conduct ▪ First Zer
Slide 14: 2020/2019 Awards and Recognition
2020/2019 AWARDS AND RECOGNITION CONTRACTOR OF THE DESIGN EXCELLENCE award FIRST ZERO CARBON YEAR award for the Cedar finalist for the RCMP Forensics certification in Canada for the Valley Lodge team awarded by Lab project in BC. Humber College North Campus JGC / Fluor on the LNGC project Building,
Slide 15: COVID-19 Response
COVID-19 RESPONSE Employee ✓Initiated a pandemic response plan combined with a rigorous COVID-19 health and safety program ✓Best practices developed and implemented for managers and site teams - self-assessment tools, Health and enhanced cleaning protocols and hygiene measures, physical distancing p
Slide 16: Capitalization May 29, 2020
CAPITALIZATION May 29, 2020 $5.69 6.85% $42.52M Price as of May 29 Dividend Yield Shares Outstanding in Canadian dollars ▪ Business fundamentals - continuous $241.92M $3.97 / $7.31 improvement Market Capitalization 52 Week Low / High ▪ Liquidity improved year over year ▪ EDC performance guarantees u
Slide 17: Modular, Industrial, Energy & Resources
Modular Commercial Industrial Energy & Resources Institutional Mass Transportation Timber Utilities