Slide 1: Q2 2025 Earnings Call Presentation
Q2 2025 Earnings Call Presentation August 14, 2025 Bird Construction Inc. (TSX:BDT) Q2 2025 Earnings Call Presentation
Slide 2: Disclaimer
Disclaimer Terminology and non-GAAP & other financial measures Throughout this presentation, management uses certain terminology and financial measures that do not have standard meanings under IFRS and are considered specified financial measures. These include non-GAAP financial measures, non-GAAP
Slide 3: Financial Highlights
Financial Highlights Q2 2025 in millions of Canadian dollars Adj. EBITDA1 & Adj. • Continued Margin Expansion – Driven by Revenue EBITDA Margin2 diversification in high-demand sectors, 2.6% y/y 17.9% y/y infrastructure growth, and increased self- $1,000 perform work. 6.5% 6.0% $874 $851 5.3% • Recor
Slide 4: Sustained EBITDA Margin Momentum
Sustained EBITDA Margin growth trajectory supported by strategic Momentum mix in economically resilient sectors. QUARTERLY Adj. EBITDA ($M) Q2 margin expansion driven by Q2 $55 6.5% infrastructure growth and diversification 2025 into higher margin sectors. Q2 $47 5.3% 2024 Diverse, highly collab
Slide 5: Sustained, Diversified, and Risk-Balanced
Sustained, Diversified, and Risk-Balanced BACKGROUND BACKLOG BREAKDOWN Backlog Characterizations Securements across our business units with +19% growth in-line or above market growth y/y Book to Bill Ratio1 18% $800 Additional work packages on large capital investment projects CAGR2 $900 $900 $2,989
Slide 6: Key Strategic Sectors
Key Strategic Sectors Well-positioned to Benefit from Significant 2025 Announcements: Significant Long-term Demand Defence Strategic focus on economically resilient sectors supported by longer-term drivers, Transportation infrastructure such as: defence spending; transportation infrastructure; p
Slide 7: Operational Excellence Driving Growth on Large Capital Investment Projects
Operational Spotlight Projects Excellence Driving Woodfibre LNG Project Growth on Large Key construction subcontractor on $5.1B project for world’s first net-zero LNG export facility; notably, completed over $1B in work at the Kitimat LNG Project. Capital Investment Bruce and Darlington Nuclear Faci
Slide 8: Q2 2025 Financial Highlights
Q2 2025 Financial Highlights Continued margin accretion and delivering earnings improvements that significantly outpaced revenue growth. Seasonal investment in non-cash working capital. Three Months Ended Y/Y Six Months Ended Y/Y June 30, 2025 Change June 30, 2025 Change Revenue $850.8 (2.6%) $1,568
Slide 9: Strong Cash Flow Generator
Strong Cash Flow Generator Solid, sustained financial foundation with flexibility for continued growth Cash Flows from Operating Activities Expanding Free Cash Flow Robust liquidity and capital 47% Generation efficiency metrics CAGR1 $114 $76 $90 $43 2022 2023 2024 $6 Q2'24 Q2'25 55.9% 1.28 Current
Slide 10: Disciplined Capital Allocation Strategy
Disciplined Capital Allocation Strategy Uses of capital Capital Expenditures1 (2022-2024) $30 215% increase $20 to monthly $31 $34 $28 dividend $10 $16 $17 27% Smart capital investments to $- 34% support further 2022 2023 2024 Q2'24 YTD Q2'25 YTD productivity and in millions of Canadian Dollars ~$30
Slide 11: Outlook
Committed to Our Strategic Plan – Bird’s strategic focus on diversifying its work programs geographically and across industrial, building and infrastructure markets, as well as the Outlook Company’s strategic focus on key sectors with long-term demand drivers, position Bird to manage current market
Slide 12: Appendix
Appendix
Slide 13: Capital Markets Overview
$29.04 ~2.9% Capital Share Price(1) Dividend ~$1.6B Market Markets Yield Capitalization (1) Overview $17.52/$32.67 52 Week Low / High (1) 55,382,831 Shares Outstanding (1) Organic and M&A Firm Analyst Contact Revenue Growth ATB Capital Chris Murray 647.776.8246 cmurray@atb.com BMO Capital Markets Jo
Slide 14: Building on the foundation of operational excellence and safe execution
Building on the foundation of operational excellence and safe execution, considerable growth and sustained momentum from the Company's 2022- 2024 Strategic Plan. Q2 2025 Earnings Call Presentation
Slide 15: 2025-2027 Strategic Plan Targets
2025-2027 Strategic Plan Targets Revenue Adj. EBITDA Dividends 10% +/- 2% 8.0% 33% Organic revenue growth CAGR Adjusted EBITDA Margin for full- year 2027 Dividend payout ratio of Net (with 2025 receiving an additional 5% growth from the full year of Jacob Bros. revenue, when compared to 2024) Income
Slide 16: Q2 2025 Earnings Call Presentation
Q2 2025 Earnings Call Presentation Bird Construction Inc. (TSX:BDT) Q2 2025 Earnings Call Presentation 15