Brightview Holdings, Inc. · NYSE:BV
Brightview — CJS Securities Virtual NDR (December 2025)
28 slides from Brightview's conference presentation, Dec 12, 2025
Slide 1: Investor Presentation
Investor Presentation December 2025
Slide 2: Forward Looking Statements
Forward Looking Statements Forward Looking Statements without stockholder approval; the fact that the holders of our Series A Preferred Stock may have different interests from This presentation contains “forward-looking statements” within the meaning of the safe harbor provision of the U.S. and vote
Slide 3: BrightView Today
BrightView Today • Founded in 1939 • Headquartered: Blue Bell, PA States with BrightView Branches • Employees: ~19,000 Corporate Headquarters Maintenance Branches • Revenue: $2.7B (FY 2025) Development Branches Shared Branches • Jobs: ~20,000 • Branch Locations: 265+ Note: Branch locations include s
Slide 4: BrightView – Much More Than Just Mowing
BrightView – Much More Than Just Mowing Maintenance Mowing Gardening Mulching Snow Services Tree Care Water Mgmt. & Irrigation Lake & Pond Landscape Disaster Sports Golf Course Landscape Management Installation Recovery Fields Maintenance Design Development Design & Pre- Landscape Masonry + Hardscap
Slide 5: BrightView's Early Days…
BrightView’s Early Days… Not Growing Profitability, Combined Two Limited Cash, Legacy Stuck In Place Companies to Create a National Presence Initial Public Offering Focused on Revenue Growth, but not Profitable Growth 5
Slide 6: …Led to These Financial Results
…Led to These Financial Results 380 15.0 370 14.5 Revenue ($Ms) 360 Adj. EBITDA ($Ms) 14.0 +~$420M or 350 & EBITDA % (~$12M) & +18% 340 (240bps) 13.5 2,775 330 12.8% 13.0 12.7% 320 2,554 12.5 310 305 300 302 300 12.0 2,405 2,354 290 288 11.8% 11.5 280 11.0 270 260 10.5 10.4% 250 10.0 2018 2019 2021
Slide 7: BrightView's Refreshed Focus…
BrightView’s Refreshed Focus… Increased Employee & Customer Focus, While Delivering Record EBITDA Not Growing Results Profitability, Combined Two Limited Cash, Legacy Stuck In Place Top-Line Growth Companies Fueling to Create a Transformation National Presence New Leadership, One Rock Partnership, N
Slide 8: …Positions BrightView for Long Term Profitable Growth
…Positions BrightView for Long Term Profitable Growth Prioritizing our employees and a customer-centric focus producing momentum Revenue ($Ms) 2026 Revenue Guidance Assumptions Maintenance Land Growth: ~ +1% to ~ +2% Adj. EBITDA ($Ms) & EBITDA % Development Growth: ~ Flat to ~ +2% Snow Revenue: ~$19
Slide 9: FY 2025 Adjusted EBITDA (from November '25 Earnings Call)
FY 2025 Adjusted EBITDA (from November ‘25 Earnings Call) Operational efficiencies drive continued margin expansion across all segments $MMs 2H’25 Salesforce Ramp 13.2% 11.7% Minor differences may exist due to rounding $MMs FY 2025 FY 2024 Commentary Total Adjusted EBITDA $352.3 $324.7 • ~ 8% increa
Slide 10: Key Investment Highlights
Key Investment Highlights KEY INVESTMENT HIGHLIGHTS Unifying BrightView Market leader with size, scale and strategy to compound competitive advantages Prioritizing our employees to become employer and service provider of choice Sustainable business model with recurring revenue and intense customer f
Slide 11: Opportunity Abounds in Large & Highly Fragmented Market
Opportunity Abounds in Large & Highly Fragmented Market U.S. Market Structure BrightView 2025 Revenue: $2.7B ~$140B U.S. Commercial Landscaping, Snow and Development Development ~$125B U.S. Commercial Landscaping and Snow ~30% ~70% Maintenance U.S. Commercial ~$105B Landscaping Services BrightView:
Slide 12: Driving Profitable Growth…
Driving Profitable Growth… Sustainable Revenue Growth National Accounts Development Improved Conversions Employee Turnover Sales Force Ramp Ancillary Profitable Higher Offerings Streamlined Ops Structure Customer Top Line Growth Sales / Ops Alignment Realigned Comp Plans Retention 12
Slide 13: …by Operating as One BrightView
…by Operating as One BrightView Early in the Journey of Transforming BECOMING CUSTOMER UNLOCKING STRATEGIC INVESTMENT BrightView THE CENTRIC SIZE AND CAPITAL OF CHOICE EMPLOYER FOCUS SCALE ALLOCATION OF CHOICE 13
Slide 14: Continuing To Prioritize Our Employees
BECOMING THE EMPLOYER OF Continuing To Prioritize Our Employees (from November ‘25 Earnings Call) CHOICE Prioritizing and investing in our front line delivers sequential employee turnover improvement Trucks / Flexible Advanced PTO Mowers Schedules Pay Service Affordable Boots HRIS Benefits Hours 14
Slide 15: Continuing To Deliver Best in Class Customer Service
Continuing To Deliver Best in Class Customer Service CUSTOMER CENTRIC FOCUS (from November ‘25 Earnings Call) Unwavering customer service yields sequential customer retention improvement Reduced Improved Best-in-class Efficient / Turnover Communication service Unified 15
Slide 16: This is the Winning Formula…
This is the Winning Formula… Employee Customer Adjusted Turnover = Retention FCF Generation, Strategic Customer Growing Capital Retention = Branches Allocations, Long-Term Shareholder More Bigger Value Branches = Profitable Branches 16
Slide 17: 2030 Aspirational Targets (from February '25 Investor Day)
2030 Aspirational Targets (from February ’25 Investor Day) Clear path to KEY INVESTMENT HIGHLIGHTS achieve long-term ~$4B*+ ~$650M+ Market leader with size, Prioritizing our employees targets and drive Total Revenue Adjusted EBITDA scale and strategy to to become employer and shareholder value compo
Slide 18: Appendix
Appendix 18
Slide 19: FY 2026 Guidance (from November '25 Earnings Call)
FY 2026 Guidance (from November ‘25 Earnings Call) 2026 Guidance $2.670B – Total Revenue $2.730B Guidance Assumptions Maintenance Land Growth ~ +1% to ~ +2% Adjusted EBITDA $363M – $377M Revenue Development Growth ~ Flat to ~ +2% Snow Revenue ~$190 to ~ $220M Adj. EBITDA Margin Maintenance ~ +50 to
Slide 20: Accelerating Investments in Salesforce Through G&A Savings
Accelerating Investments in Salesforce Through G&A Savings UNLOCKING SIZE AND SCALE (from November ‘25 Earnings Call) Meaningful progress already made…but more to come Seller Updates • FY’25 G&A savings partially reinvested back into expanding our salesforce • Tenure of salesforce to improve as we r
Slide 21: Maintenance Land Revenue To Inflect in FY26
Maintenance Land Revenue To Inflect in FY26 (from November ‘25 Earnings Call) Maintenance revenue metrics continue to improve after Q3 macro related headwinds Investments in Steady progress in Macro related 4Q25 Land revenue salesforce to drive Land revenue trajectory dynamics created trended back t
Slide 22: Fleet Investments Providing Meaningful Benefits
Fleet Investments Providing Meaningful Benefits (from November ‘25 Earnings Call) Capital allocation strategy delivering multi-faceted benefits Fleet Management Strategy EBITDA Margin = • Prioritize refreshing our most aged fleet first Growth Expansion • Assets disposed at optimal time producing hig
Slide 23: Leadership
Leadership Inspiring & Unifying ~19,000 Employees to Operate as One BrightView DALE ASPLUND BRETT URBAN MANDY ORDERS MICHAEL DOZIER JONATHAN GOTTSEGEN Chief Executive Officer Chief Financial Officer Chief Human Chief Commercial Officer Chief Legal Officer & Resources Officer Corporate Secretary Sale
Slide 24: Path to ~$4B in Revenue (from February '25 Investor Day)
Path to ~$4B in Revenue (from February ’25 Investor Day) 1 Land Maintenance ~3% to ~6% Growth per Annum (Retention, Route Density, Cross Selling, Ancillary Offerings) 2 Development ~4% to ~5% Growth per Annum (Continued momentum in backlog) 3 Accretive M&A ~$400M to ~$500M in Accretive Mergers & Acq
Slide 25: Path to 16%+ EBITDA Margins (from February '25 Investor Day)
Path to 16%+ EBITDA Margins (from February ’25 Investor Day) 1 Top-Line Growth ~20%+ Flowthrough on Top-Line Growth Drivers 2 Efficiencies +~250bps margin expansion driven by FSM*, procurement, fleet & SG&A leverage 3 Accretive M&A Flowthrough on ~$450M of Accretive Mergers & Acquisitions 12.3% CAGR
Slide 26: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation Fiscal Year Ended September 30 (In millions) 2025 2024 2023 2022 2021 2020 2019 2018 Adjusted EBITDA Net income (loss) $ 56.0 $ 66.4 $ (7.7) $ 14.0 $ 46.3 $ (41.6) $ 44.4 $ (15.1) Plus: Interest expense, net 53.7 62.4 97.4 53.3 42.3 64.6 72.5 97.8 Income tax expense (
Slide 27: Non-GAAP to GAAP Reconciliation (cont.)
Non-GAAP to GAAP Reconciliation (cont.) Total Financial De bt and Total Ne t Financial De bt Fiscal Ye ar Ende d Se pte mbe r 30 (In millions) 2025 2024 2023 2022 2021 2020 2019 2018 Long-term debt, net $ 790.2 $ 802.5 $ 888.1 $ 1,330.7 $ 1,130.6 $ 1,127.5 $ 1,134.2 $ 1,141.3 Plus: Current portion o
Slide 28: Thank you
BrightView P Inspiring People. Nurturing Landscapes. Thank you BV LISTED NYSE
BrightView Holdings — CJS Securities Virtual NDR (December 2025) on 6ix