Everus Construction Group, Inc. · NYSE:ECG
Everus Construction — Investor Presentation (March 2026)
32 slides from Everus Construction's investor presentation, March 2026
Slide 1: Investor Presentation March 2026
Investor Presentation March 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation, and oral comments that Everus may make, contain or incorporate by reference certain “forward-looking statements” within the meaning of the securities laws. All statements that reflect Everus’ expectations, assumptions or projections about the future, oth
Slide 3: Our Mission and Values
OUR MISSION Safely Building America’s FutureⓇ as an industry-leading construction services provider while achieving sustained growth. OUR VALUES INTEGRITY RESPECT SAFETY TEAMWORK 3
Slide 4: Leading Construction Services Provider
Leading Construction Services Provider National Platform of 19 Market-Leading Local Brands ~9,400 85% ~4,000 ~44,000 No. 12 of 600 Employees Employees in Unions Customers Projects in 2025 Specialty Contractors Electrical & Mechanical Transmission & Distribution T&D Electrical and Revenues: 23%(1) Ut
Slide 5: Electrical & Mechanical ("E&M")
Electrical & Mechanical (“E&M”) $2,921M $2,844M(1) $247M 8.5% Revenues Backlog EBITDA EBITDA Margin Segment Overview Services End Markets(2) Construction and maintenance of electrical and Electrical construction communication wiring and infrastructure, fire Fire protection suppression systems, renew
Slide 6: Transmission & Distribution ("T&D")
Transmission & Distribution (“T&D”) $848M 56% $384M(1) $115M 13.5% Revenues MSA Revenues % Backlog EBITDA EBITDA Margin Segment Overview Services End Markets(2) Construction and maintenance services for Equipment utility and communication infrastructure, as well as transportation-related lighting Ex
Slide 7: Strong Positioning Across Diversified End Markets
Strong Positioning Across Diversified End Markets Commercial Utility Institutional Industrial Service & Transportation Renewables Other $2,074M $749M $353M $317M $114M $99M $63M LTM Revenues LTM Revenues LTM Revenues LTM Revenues LTM Revenues LTM Revenues LTM Revenues 55% 20% 9% 8% 3% 3% 2% % of Con
Slide 8: Scaled National Platform of Market-Leading Local Brands
Scaled National Platform of Market-Leading Local Brands National Platform Operations across the United States Proven ability to deploy capital for innovation and to set industry standards Systematic platform-wide sharing of best practices and expertise Local Expertise 19 market-leading local brands
Slide 9: Employees Value Execution Relationships
Employees Value Execution Relationships Attract, retain Create long-term Lead the industry Maintain and grow and train value with sustained in safety and consistent customer premier talent profitable growth high-quality execution relationships 9
Slide 10: Value Creation Framework
Value Creation Framework Targeted Commercial Growth Operational Excellence Disciplined Capital Allocation Grow share within existing end Strategically deploy assets in Invest in high-return organic markets higher-margin projects and growth initiatives end markets Further penetrate Pursue strategic a
Slide 11: Multiple Levers to Drive Growth
Multiple Levers to Drive Growth Grow Share Within Further Penetrate Existing End Markets Higher-Growth Submarkets Increase local share through strong Leverage expertise with critical customer relationships and a and complex projects to expand proven track record of execution within higher-growth sub
Slide 12: Operational Excellence Drives Repeatable High-Quality Results
Operational Excellence Drives Repeatable High-Quality Results HIGH-QUALITY OUTCOMES High Employee Leverage Unique Retention Continuously Position Safety as Pre-Construction Train and Develop a Core Value, not Design-Assist Workforce Skills Only a Priority Capabilities High Customer Retention New Pro
Slide 13: Pre-Fabrication Drives Productivity and Cost Savings
Pre-Fabrication Drives Productivity and Cost Savings Benefits of Pre-Fabrication Early Adopter of Pre-Fabrication Why Everus Wins Improved safety Project-planning standards that identify pre-fabrication opportunities Greater labor efficiency Robust communication and knowledge- and lower labor co
Slide 14: Disciplined Capital Allocation For Long-Term Value Creation
Disciplined Capital Allocation For Long-Term Value Creation NEAR-TERM PRIORITIES 1 Grow share within existing end markets and higher-growth submarkets Organic Growth Grow with existing customers in new geographies Investment CapEx target between 2.0% and 2.5% of revenues Complementary busine
Slide 15: Long-Term Expectations
Employees Value Execution Relationships LONG-TERM EXPECTATIONS 5% – 7% 7% – 9% Organic Revenue CAGR EBITDA CAGR 2.0% – 2.5% 1.5x – 2.0x CapEx as % of Revenue Net Leverage 15
Slide 16: Fourth Quarter and Full-Year 2025 Results
FOURTH QUARTER AND 16 FULL-YEAR 2025 RESULTS
Slide 17: Fourth Quarter 2025 Highlights – Continued Strength
Fourth Quarter 2025 Highlights – Continued Strength Strong Revenue Growth Solid EBITDA Growth Revenue growth of 33% driven by Total EBITDA increased 45% from prior continued momentum in E&M, particularly year, inclusive of incremental stand-alone data center submarket, and growth in T&D operating co
Slide 18: Fourth Quarter 2025 Highlights – End Market Momentum
Fourth Quarter 2025 Highlights – End Market Momentum E&M Momentum Free Cash Flow E&M revenues increased 44% driven by 2025 free cash flow was $100.0 million, down continued momentum in data center work; from $128.8 million last year, as strong operating EBITDA increased 57% with 70 bps results were
Slide 19: Fourth Quarter and Full-Year 2025 Performance Summary
Fourth Quarter and Full-Year 2025 Performance Summary Performance Fourth Quarter and Full-Year Revenues Fourth Quarter and Full-Year EBITDA ($MM) highlighted by strong ($MM) $319.8 E&M growth, $3,746.4 continued backlog $2,849.7 + 31.5% $232.2* + 37.7% momentum, project execution $58.3 $84.8 $1,011.
Slide 20: Fourth Quarter and Full-Year 2025 Segment Summary
Fourth Quarter and Full-Year 2025 Segment Summary E&M Revenues T&D Revenues E&M Highlights ($MM) ($MM) $848.5 • Fourth quarter revenues $837.1 $2,920.7 increased 44% due to strength in commercial, particularly in data + 1.4% $2,031.5 center submarket + 43.8% • Fourth quarter EBITDA increased $791.6
Slide 21: Fourth Quarter 2025 Balance Sheet and Liquidity
Fourth Quarter 2025 Balance Sheet and Liquidity Ample financial Net Debt Net Leverage ($MM) flexibility to pursue strategic objectives $230 $242 $228 1.0x 1.0x 0.8x $159 $132 0.5x • 4Q25 net debt of $132 million, 0.4x down from 3Q25 reflecting strong operating results and disciplined capital managem
Slide 22: 2026 Financial Guidance
2026 Financial Guidance 2026 Drivers 2026 Guidance Guidance reflects strong backlog trends, continued business momentum Revenues $4.1B – $4.2B Strong demand for E&M driven by data center, hospitality and high tech re-shoring; T&D driven by grid modernization and hardening EBITDA Strong momentum with
Slide 23: Compelling Investment Thesis
Compelling Investment Thesis Benefit From Multiple Proven Leadership Team Scaled National Platform Skilled Workforce, Diversified Revenue Base Growth Drivers and Executing 4EVER of Market-Leading Local People-First Culture & & Disciplined Capital Industry Megatrends Strategy Brands Repeatable Playbo
Slide 24: Appendix
APPENDIX 24
Slide 25: Non-GAAP Financial Guidance
Non-GAAP Financial Guidance We are unable to reconcile forward-looking non-GAAP financial guidance relating to full-year 2026 EBITDA margin and long-term targets of organic revenue, organic revenue growth, EBITDA, EBITDA growth and net leverage to their respective nearest U.S. GAAP measure because w
Slide 26: Reconciliations of net income to EBITDA and EBITDA margin
Reconciliations of net income to EBITDA and EBITDA margin Reconciliations of net income to EBITDA and EBITDA margin. Three months ended December 31, Year ended December 31, 2025 2024 Change 2025 2024 Change (In millions, except percentages) Net income $ 55.3 $ 34.4 60.8% $ 201.8 $ 143.4 40.7% Intere
Slide 27: Reconciliations of net income to EBITDA by segment
Reconciliations of net income to EBITDA by segment Reconciliations of net income to EBITDA by segment. Three months ended December 31, 2025 Year ended December 31, 2025 Corporate and Corporate and E&M T&D Other Total E&M T&D Other Total (In millions) Net income $ 50.6 $ 17.4 $ (12.7) $ 55.3 $ 185.4
Slide 28: Reconciliations of EBITDA and EBITDA margin by segment
Reconciliations of EBITDA and EBITDA margin by segment Reconciliations of net income to EBITDA and EBITDA margin by segment. Three months ended December 31, Year ended December 31, 2025 2024 % change 2025 2024 % change Operating revenues: (In millions, except percentages) E&M $ 791.6 $ 549.8 44.0% $
Slide 29: Reconciliation of EBITDA guidance
Reconciliation of EBITDA guidance EBITDA guidance reconciliation for the full-year 2026. Low High (In millions) Net income $ 205.0 $ 215.0 Interest expense, net 15.0 15.0 Income taxes 70.0 75.0 Depreciation and amortization 30.0 30.0 EBITDA $ 320.0 $ 335.0 29
Slide 30: Reconciliations of trailing 12-month EBITDA and net leverage
Reconciliations of trailing 12-month EBITDA and net leverage Reconciliations of trailing-twelve-month EBITDA as of December 31, 2025 and 2024. Twelve months Twelve months ended December ended December 31, 2025 31, 2024 (In millions) Net income $ 201.8 $ 143.4 Interest expense, net 16.9 14.0 Income t
Slide 31: Reconciliations of free cash flow
Reconciliations of free cash flow Reconciliations of cash provided by operating activities to free cash flow Year ended December 31, 2025 2024 (In millions) Net cash used in investing activities $ (56.8) $ (37.1) Net cash used in financing activities $ (15.5) $ (41.9) Net cash provided by operating
Slide 32: investors@everus.com
Contact: investors@everus.com 32
Everus Construction Group — Investor Presentation (March 2026) on 6ix